News about REIT

Sunway REIT said the sale is part of its ongoing capital recycling strategy to optimise portfolio quality and long-term value creation.

Its distributable income or total realised income available for distribution was RM58.

Retail-focused IGB REIT reported a 9.

The trust announced a distribution per unit of 1.

The 21-storey property has remained vacant since 2018, marking the revival of a key hospitality asset in Kedah.

While Pavilion REIT continues to benefit from a rebound in tourism with expected drive spending and traffic at key assets such as Pavilion Kuala Lumpur and Pavilion Elite, the research house said the recent share price rally had already priced in much of this optimism and “tilted its risk-reward to be less compelling”.

The disposal will be undertaken by Everise Project Sdn Bhd, a 60%-owned subsidiary of UOA Development, which signed the sales and purchase agreements with RHB Trustees Bhd, the trustee of UOA REIT.

Teh, 47, was appointed in April 2022, replacing Yong Su-Lin, who stepped down after six years.

Under the programme, the REIT can issue multiple series of notes, each with a minimum term of one year from its date of issue.

Proceeds from the debt notes to be issued under the programme will finance the REIT’s investment activities, refinance maturing sukuk wakalah under the programme, and fund requisite deposit in a sukuk trustee reimbursement account.