After regaining firm footing in FY2022, Sunway REIT eyes more positive upside from post-Covid reopening
Sunway REIT chief executive officer Datuk Jeffrey Ng Tiong Lip: “Sunway REIT has recovered well from Covid-19 pandemic.
Sunway REIT chief executive officer Datuk Jeffrey Ng Tiong Lip: “Sunway REIT has recovered well from Covid-19 pandemic.
The trust aims to grow its asset value to between RM14 billion and RM15 billion by 2027, from RM9.
Pavilion Kuala Lumpur Mall remained the REIT's biggest overall revenue contributor as well as for its mall segment, with gross revenue rising 18.
The office rental market remains challenging with the over-supply of office space particularly in the Klang Valley as more organisations, especially multinational corporations, continue to re-evaluate their workplace strategies and requirements, the REIT said.
It was the second distribution whereby AME REIT distributed 100% of the quarter’s distributable income to its unitholders.
UOA REIT invests in office buildings across Klang Valley.
The REIT said the southern region remained as the highest revenue contributor, with the three malls located in the region reporting a gross revenue of RM10.
Axis REIT’s manager is optimistic that in view of the satisfactory performance of the REIT’s existing property portfolio and its growth strategy to actively pursue quality investments, it will be able to maintain its current performance for FY2023.
The group said property expenses for 4QFY2023 were higher by 18.
In a note on Thursday (April 13), the research house initiated a target price of RM1.