First Real Estate Investment Trust (“First REIT”) is Singapore's first healthcare real estate investment trust. Listed on the Singapore Exchange Securities Trading Limited on 11 December 2006, First REIT is managed by First REIT Management Limited, which is 60% owned by OUE Limited and 40% owned by OUE Healthcare Limited.

The Trust has a portfolio of 32 properties across Asia, with a total asset value of S$1.14 billion as at 31 December 2023. These include 15 properties in Indonesia comprising 11 hospitals, 2 integrated hospitals & malls, 1 integrated hospital & hotel, and 1 hotel & country club; 3 nursing homes in Singapore; and 14 nursing homes in Japan. First REIT remains committed to executing its ‘2.0 Growth Strategy’ and targets for developed markets to comprise more than 50% of its portfolio by 2027.