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Looking forward, the REIT said the primary challenge for Malaysia’s retail sector is still the escalating cost of living affecting consumers across income brackets.

“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.

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.

The target is to build 2,000 to 3,000 units of affordable houses with solar power on the roofs, two-metre wide walkway and bicycle lanes with internet connectivity.

Park Homes is neither a terraced nor a semi-detached home.

HLIB said that while the mall is currently loss making, it sees value in this acquisition.

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

DONE DEAL: Condo, Verticas Residensi, Bukit Bintang, Kuala Lumpur DONE DEAL: Serviced residence, United Point, Segambut, Kuala Lumpur We’ve established that land use in Damansara Heights is mostly dedicated to landed residential properties, so what about the other categories? Approximately 3.