Sunway REIT’s 1Q NPI rises 16% to RM138m driven by retail segment
Gross revenue for the retail segment was 28.
Gross revenue for the retail segment was 28.
Its portfolio occupancy improved to 89.
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.