Analysts remain sanguine on IGB REIT’s prospects going forward
IGB REIT said revenue for 1QFY2024 rose 5.
IGB REIT said revenue for 1QFY2024 rose 5.
Looking ahead, IGB REIT expects the retail sector to record a 3.
The strong profit growth was driven by higher contributions from all its operating segments, namely the property investment of commercial and retail, property development and hotel businesses.
Both REITs set Feb 15 as the ex-date for their DPUs, with the amount to be disbursed to unitholders on Feb 29.
IGB REIT Management also announced that Lee Chen Chong and Tan Boon Lee will be standing down as directors come Dec 31, as part of the board reorganisation to facilitate independence and diversity in the boardroom.
Yong was later appointed as the executive director of MVC in 2003 and served as its chief executive officer, responsible for overseeing the management and operations of Mid Valley Megamall.
The earnings growth was mainly supported by higher tenant sales and positive rental reversion due to high shopper footfall at the Mid Valley Megamall and The Gardens Mall, they said.
The REIT, whose portfolio includes the Mid Valley Megamall and The Gardens Mall, posted a 6.
St Giles Boulevard, which is part of the Mid Valley City mixed-use integrated development in Kuala Lumpur, is 28 storeys high and comprises 390 rooms.