- UOA REIT expects office space demand to improve gradually, supported by its completed and ongoing asset enhancement initiatives aimed at revitalising older buildings through 2025.
KUALA LUMPUR (July 23): UOA Real Estate Investment Trust (KL:UOAREIT), which mainly manages commercial properties, saw its net rental income increase 8.9% to RM17.96 million for the second quarter ended June 30, 2025 (2QFY2025), compared with RM16.48 million a year ago, driven by improved occupancies.
The trust declared an interim income distribution of 3.03 sen per unit for 2QFY2025, up from 2.9 sen a year ago.
It expects office space demand to improve gradually, supported by its completed and ongoing asset enhancement initiatives aimed at revitalising older buildings through 2025.
In its bourse filing on Wednesday (July 23), UOA REIT also reaffirmed its focus on yield-accretive acquisitions aligned with strategic objectives, while maintaining gearing within regulatory thresholds.
During the quarter in review, its gross rental income increased 9% to RM30.09 million, up from RM27.59 million a year before.
Property operating expenses rose 9.2% to RM12.13 million due to higher maintenance costs, while non-property expenses saw increases in borrowing costs and administrative expenses to RM5.97 million and RM598,162, from RM5.69 million and RM106,106, respectively.
Its net profit surged 34.5% to RM10.89 million in 2QFY2025 against RM8.1 million a year ago.
For the first half of FY2025 (1HFY2025), UOA REIT’s net rental income increased 2.3% to RM35.77 million from RM34.96 million in 1HFY2024, while gross rental improved 11.1% to RM59.78 million versus RM53.81 million during the same period.
Its net profit rose 5.7% to RM20.89 million in 1HFY2025 from RM19.76 million in 1HFY2024.
At Wednesday’s market close, shares of UOA REIT were unchanged at 84.5 sen, valuing the trust at RM570.9 million.
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