Pavilion REIT's 1Q net property income climbs 5% on stronger rental contribution
The REIT's distributable income came in at RM98.
The REIT's distributable income came in at RM98.
Post-acquisition, the hotels will comprise approximately 5.
This low-density, freehold project is directly connected to Pavilion Bukit Jalil Mall and is in proximity to the 80-acre Bukit Jalil Recreational Park.
The REIT’s distributable income for 4QFY2024 stood at RM88.
After acquiring two premier hotels namely Banyan Tree Hotel and Pavilion Hotel in Kuala Lumpur for a sum of RM480 million.
Pavilion REIT said the acquisitions align with its commitment to deliver premium offerings while capitalising on synergistic opportunities with Pavilion KL mall.
Quarterly revenue grew 4% to RM207.
Net profit for the January-June period of RM150 million accounted for 44% of the consensus full-year estimate, though analysts expect earnings to catch up with forecasts on the back of higher tourist arrivals, year-end shopping season, and improved occupancy rates.
Pavilion REIT, whose share price has risen 14.
Shares in Pavilion REIT edged up 1.