Axis REIT's 3Q net property income rises 12%, declares 2.35 sen DPU
For the first nine months of FY2024 (9MFY2024), the REIT posted an 11.
For the first nine months of FY2024 (9MFY2024), the REIT posted an 11.
The distribution per unit (DPU) rose to 2.
For the 9MFY2024, the REIT’s NPI rose 24% to RM191.
Quarterly revenue grew 4% to RM207.
At end-September, the retail segment contributed about 94% to the REIT’s total revenue while occupancy rates of the seven KIPMalls stood at 90.
The independent adviser noted the RM119.
Sunway 163 is presently 99% occupied, with over 100 tenants and brands with a diverse range of retail offerings, catering to a catchment encompassing Mont’ Kiara, Hartamas and Segambut.
The REIT sector is expected to deliver core earnings growth of 8.
MRMA chair and Axis REIT Managers Bhd chief executive officer Leong Kit May said that M-REIT commercial sub-sectors were bolstered by proactive government policies such as the 30-day visa exemption for China and India visitors.
Shares of WCT have more than doubled so far this year, tracking strong gains in the construction sector, and partly boosted by news of the planned REIT listing in recent months.