News about REIT

“We are excited by the potential of our existing assets and the vast opportunities to acquire high quality accretive assets with strong recurring rental income to expand our portfolio,” said KIP REIT chief executive officer Valerie Ong Pui Shan.

Its property operating expenses stood at RM11.

It also saw net profit for the quarter increase 2.

In February this year, CLMT acquired three prime freehold ready-built factories in Nusajaya Tech Park in Iskandar Malaysia from Nusajaya Tech Park Sdn Bhd for a total RM27 million, marking the trust's entry into the industrial market, as it diversified its geographical footprint to Johor.

This is AME REIT’s second acquisition from AME Elite within 10 months.

"This resilience is partly due to increased disposable income from EPF Account Three withdrawals, which has helped mitigate some living cost pressures,” said Tan Choon Siang, the chief executive officer of the trust's manager, CapitaLand Malaysia REIT Management Sdn Bhd.

CLMT attributed the improved earnings mainly to contribution from Queensbay Mall, which it acquired in March 2023, and better performances of Gurney Plaza, Sungei Wang Plaza, 3 Damansara and Valdor Logistics Hub.

In a note on Wednesday, the research house said the results were within house and consensus full-year estimates at 48%.

Revenue for the quarter ended June 30, 2024, rose 11.

The property, located within Subang Jaya in USJ1, boasts a 12-storey purpose-built building fitted for educational purposes, held under a freehold tenure.