Lagenda Properties Bhd saw its third quarter net profit decline 21.54% to RM35.73 million from RM45.54 million a year earlier, mainly due to upfront costs incurred in preparation for future project launches and the provision for prosperity tax.
The property, known as The Heritage Tower @ Mines Wellness City, has a gross floor area of 29,886 sq metres and a net lettable area of about 14,167 sq metres
Looking ahead, Sunway REIT Management Sdn Bhd — the manager of Sunway REIT — said it remains optimistic on the group’s outlook for FY2022, underpinned by strong growth in its retail segment, gradual recovery in the hotel segment and the new income contribution.
YNH announced the disposal sum of RM270.5 million for 163 Retail Park shopping centre in Mont’Kiara, Kuala Lumpur; and RM152 million for Aeon Seri Manjung in Perak.
For the property development division, Kobay expects positive performance in FY23, on the back of completion of its maiden Langkawi projects by year-end.
Hektar Real Estate Investment Trust (Hektar REIT)’s third quarter net property income (NPI) rose 77.2% to RM18.31 million from RM10.34 million a year earlier, mainly due to higher revenue recognition and improved NPI margin, besides reversal of impairment losses of trade receivables.
Hana Residences is slated for completion in the third quarter of 2025 and has a total gross development value of RM403 million.
This is the REIT's second cash call in less than a year after it completed a private placement on Dec 20, 2021, which raised gross proceeds of RM334.72 million.
The kitchen cabinet manufacturer said the entitlement date will be determined later.