Reit

F896A4B5 BA7F 4B6A 9560 C94B9C7FC20F

Boost Your Lifestyle at Pavilion KL – Malaysia’s Top Shopping Destination

In the heart of Kuala Lumpur, amidst a fiercely competitive retail environment, Pavilion Real Estate Investment Trust (PavREIT) continues to dominate with its flagship properties, Pavilion KL and the adjoining Pavilion Elite. Despite the buzz surrounding the new The Exchange TRX, PavREIT maintains a stronghold with an impressive occupancy rate surpassing 95%. Strategic Innovation Drives...

epf kwsp

EPF Expected to Profit RM46 Million from Retail Property Sales

The Employees Provident Fund (EPF) is set to yield a profit of RM46 million from the disposal of six retail properties located in Klang Valley and Johor. The properties being sold include the Giant Bandar Kinrara, Giant Putra Heights, Giant USJ, Giant Klang, Giant Ulu Klang buildings, along with the Giant Plentong building in Johor, amounting to a total valuation of RM520 million. Deputy Finance Minister...

menara celcomdigi

Sentral REIT Sets Sight on Menara CelcomDigi for Portfolio Expansion

Sentral Real Estate Investment Trust (Sentral REIT) has announced its intention to acquire the 27-story Menara CelcomDigi, previously known as Menara Celcom, from the Malaysian Resources Corp Bhd (MRCB). Sentral REIT's management company, Sentral REIT Management Sdn Bhd, has accepted a letter of intent from MRCB, kick-starting the negotiations for the proposed acquisition. Although the exact acquisition...

StGiles MidValley

IGB Bhd Anticipates Hotel Segment Recovery Driven by Boulevard Hotel Reopening

IGB Bhd is expecting a positive turn in its hotel sector, largely driven by the reopening of its 390-room Boulevard hotel nestled in Mid Valley City, scheduled for July 2023. The company's hotel segment will also be boosted by a year-round contribution from St. Giles Southkey hotel in Johor Bahru, which commenced operations on August 31, 2022. The St. Giles Southkey is part of the Mid Valley Southkey,...

F896A4B5 BA7F 4B6A 9560 C94B9C7FC20F

Pavilion REIT’s 1Q property income rises 11.5% amid increased occupancy, rental income

Pavilion Real Estate Investment Trust (REIT)’s net property income rose 11.5% to RM104.8 million in the first quarter ended March 31, 2023 (1QFY2023) from RM93.99 million in the same quarter a year earlier, as it reported stronger revenue thanks to higher rental income due to increased occupancy, rent revenue, and advertising and marketing income at its retail malls. Revenue grew 16.23% to...

IGBCommercialREIT

IGB REIT’s 1Q property income up 10% as rental earnings climb; pays 2.80 sen DPU

IGB Real Estate Investment Trust (IGB REIT), which operates the Mid Valley Megamall and The Gardens Mall here, posted a net property income of RM118.56 million for the first quarter ended March 31, 2023 (1QFY2023), up 10% from RM107.71 million in the same quarter a year ago, as the REIT recorded higher rental income. Revenue grew 15.55% to RM154.62 million from RM133.81 million,...

EB3ED00B F3AE 4E53 A886 3384CEA6A88E

Sunway REIT’s 4Q NPI rises 19% to RM146m; declares five sen DPU

Sunway Real Estate Investment Trust’s net property income (NPI) for the fourth quarter ended Dec 31, 2022 (4QFY2022) rose 18.8% to RM146.19 million from RM123.1 million a year ago, due to higher revenue and reversal of doubtful debts resulting from improved rental collection in the retail segment.  Quarterly revenue increased by 18.34% to RM186.73 million compared to RM157.8 million, the...

F896A4B5 BA7F 4B6A 9560 C94B9C7FC20F

Pavilion REIT to buy Pavilion Bukit Jalil mall from Malton for RM2.2 bil

An agreement has finally been inked to facilitate Pavilion Real Estate Investment Trust's (Pavilion REIT) purchase of Pavilion Bukit Jalil mall (PBJ mall) from Malton Bhd. Both groups have been in talks regarding the purchase since December last year. Malton's executive chairman and major shareholder Tan Sri Desmond Lim is also the chairman and non-independent executive director of Pavilion REIT...

F896A4B5 BA7F 4B6A 9560 C94B9C7FC20F

Pavilion REIT’s 3Q NPI jumps 90% on higher revenue, lower property operating expenses

Pavilion Real Estate Investment Trust, which is still in the midst of discussion to buy Pavilion Bukit Jalil mall from Malton Bhd, posted a higher net property income (NPI) of RM90.22 million in the third quarter ended Sept 30, 2022 (3QFY22). This is 90% higher than the RM47.47 million NPI recorded in 3QFY21, thanks to increased revenue as well as lower property operating expenses. Earnings per...

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