News about REIT

The 21-storey property has remained vacant since 2018, marking the revival of a key hospitality asset in Kedah.

While Pavilion REIT continues to benefit from a rebound in tourism with expected drive spending and traffic at key assets such as Pavilion Kuala Lumpur and Pavilion Elite, the research house said the recent share price rally had already priced in much of this optimism and “tilted its risk-reward to be less compelling”.

The disposal will be undertaken by Everise Project Sdn Bhd, a 60%-owned subsidiary of UOA Development, which signed the sales and purchase agreements with RHB Trustees Bhd, the trustee of UOA REIT.

Teh, 47, was appointed in April 2022, replacing Yong Su-Lin, who stepped down after six years.

Under the programme, the REIT can issue multiple series of notes, each with a minimum term of one year from its date of issue.

Proceeds from the debt notes to be issued under the programme will finance the REIT’s investment activities, refinance maturing sukuk wakalah under the programme, and fund requisite deposit in a sukuk trustee reimbursement account.

Last Thursday (Sept 4), the trust said it was buying the property, comprising a factory, warehouse and office, with a combined gross floor area of 240,600 sq ft in the Bandar Sultan Suleiman industrial area.

The property comprises 3.

The commercial segment, via IGB Commercial REIT, saw revenue expand 14.

Quarterly net rental income rose 3.