First REIT has officially announced the much-anticipated sale of the Imperial Aryaduta Hotel & Country Club (IAHCC) for SGD 25.9 million. This transaction marks a significant achievement for the REIT, as it realizes a 22.2% premium over the original purchase price. This strategic move is part of First REIT’s ongoing efforts to streamline its portfolio and enhance its financial stability.
On 17 October 2025, the Singapore-based healthcare REIT revealed that two of its wholly-owned subsidiaries have entered into a conditional sale and purchase agreement. This agreement facilitates the divestment of 100% of the share capital of PT Karya Sentra Sejahtera, the entity that owns the hotel property. This decision underscores First REIT’s commitment to optimizing its asset base and focusing on core investments that align with its long-term growth strategy.
In recent months, First REIT has been actively working to improve its financial metrics and operational efficiency. The sale of IAHCC is a crucial step in this direction, allowing the REIT to reallocate resources and potentially invest in more lucrative opportunities. The premium achieved on this sale reflects the strong demand for quality hospitality assets in the region, further validating First REIT’s strategic approach to asset management.
Related: First REIT secures higher rent for Imperial Aryaduta amid attempts at divestment
