CAREIT Secures Approval for Westlite Ubi Expansion: 540 New Beds and 1.5% FY28 DPU Accretion Expected 1

Posted on February 12, 2026 at 10:56 am (GMT+8)

Broker Name: DBS
Excerpt from DBS report

CAREIT has received approval to develop an additional 6-storey block at Westlite Ubi, increasing bed capacity by 540 (from 1650 to 2190).
Development work starts in 2Q26, taking 1.5 years, with costs estimated at SGD27-32m and funded internally, raising gearing by a manageable +1.8ppt.
Expected full-year accretion to FY28 DPU is +1.5% on completion, highlighting management’s strong execution and making CAREIT a top sector pick with a target price of SGD1.30.

above is an excerpt from a report by DBS. Clients of DBS can be the first to access the full report from the DBS website: https://www.dbs.com.sg

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