News about reit

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.

Net profit for the January-June period of RM150 million accounted for 44% of the consensus full-year estimate, though analysts expect earnings to catch up with forecasts on the back of higher tourist arrivals, year-end shopping season, and improved occupancy rates.

Pavilion REIT, whose share price has risen 14.

The retail REIT sector is facing challenges from the recent increase in the sales and service tax (SST) to 8%, weak consumer spending, sustained elevated inflation, and fuel subsidy rationalisation.

Notably, WCT recently secured an external job consisting of a RM249.