Hektar REIT 3Q net property income up 77% on improved revenue, NPI margin
Hektar REIT said the Malaysian retail landscape showed steady recovery, as it inches back to the pre-pandemic levels, and this is evident across the REIT’s portfolio.
Hektar REIT said the Malaysian retail landscape showed steady recovery, as it inches back to the pre-pandemic levels, and this is evident across the REIT’s portfolio.
Axis REIT said the latest placement involves issuing up to 100 million new units, representing up to 6.
The group's largest contributor, the office segment, logged a marginal 0.
It said the lower income recorded for 9MFY22 was mainly due to lower revenue contributions from Wisma Technip and Quill Building 2, which were partially offset by increase in revenues from Menara Shell and Plaza Mont Kiara, lower property expenses and finance costs.
The acquisition of Queensbay Mall will deepen CLMT’s presence in Penang, thus strengthening its foothold in the northern region of Malaysia, where it already owns Gurney Plaza and is targeting to complete the acquisition of its first logistics property in Penang in the fourth quarter of this year.
The REIT, which owns the Mid Valley Megamall and The Gardens Mall, declared a distribution per unit of 2.
Quarterly revenue grew 26.
Going forward, executive director Datuk Eric Ong Kook Liong said the REIT's core strategy will be to continue to pursue high quality accretive acquisitions to support sustainable distribution payout to unitholders.
The real estate investment trust (REIT) said distributable income for the quarter amounted to RM22.
Industry leaders and experts were invited to share and discuss issues that could impact the industry globally as well as domestically.