First Real Estate Investment Trust (First REIT) announced on Mar, 13 2026 that indirect subsidiary PT Graha Pilar Sejahtera has signed an extension letter with PT East Jakarta Medika to prolong the master lease for Siloam Hospitals Lippo Cikarang.

The renewed term runs from Jul, 1 2026 to Dec, 31 2026, with a further six-month option through Jun, 30 2027, subject to lender and trustee approvals and potential divestment of the property.

Rent for the initial extension is based on an annual figure of about 4.49 million Singapore dollars, equivalent to 2.24 million Singapore dollars for the six months. The optional period would be priced on an annual rate of roughly 4.58 million Singapore dollars, or 2.29 million Singapore dollars for that half-year.

The tenant must maintain a security deposit of approximately 1.12 million Singapore dollars during the first extension and 1.14 million Singapore dollars if the option is exercised.

First REIT said the short-term renewal secures income while it continues a strategic review announced on Jan, 13 2025. The trust’s audit and risk committee deemed the terms to be on normal commercial grounds. The deal is classified as an interested person transaction, bringing total such transactions for the current financial year to about 4.5 million Singapore dollars, representing 0.8% of the trust’s latest audited net tangible assets.