News about REIT

The retail REIT sector is facing challenges from the recent increase in the sales and service tax (SST) to 8%, weak consumer spending, sustained elevated inflation, and fuel subsidy rationalisation.

Notably, WCT recently secured an external job consisting of a RM249.

This will allow the group to unlock the value of its investments in the properties, the construction and property group said in a bourse filing.

PHBAM, the wholly-owned subsidiary of Pelaburan Hartanah Bhd (PHB), is replacing Maybank Asset Management Sdn Bhd (MAM) as the manager for AHB fund.

YNH Property in January announced its plan to sell the seven-storey retail shopping centre to Sunway REIT for RM215 million in cash.

The building, which AmanahRaya REIT has owned for almost eight years, is a four-storey purpose-built office building with one basement level.

Johari, 52, has decided to step down to pursue new opportunities after holding the CEO post for two years.

The REIT may include retail complexes, office buildings, schools and a convention centre, S P Setia said in a statement.

MRMA was established in May 2010, as a collective representation of the Malaysian real estate investment sector and to establish an environment for more investments into high quality real estate in Malaysia.

The acquisition, which is the REIT's largest acquisition since its listing on the Main Market of Bursa Malaysia in 2017, is scheduled to be completed by the first quarter of 2025.