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KUALA LUMPUR (Jan 21): KIP Real Estate Investment Trust (KL:KIPREIT) saw its net property income (NPI) rise 49.9% in the second quarter from a year earlier, bolstered by new assets.
NPI for the three months ended Dec 31, 2025 (2QFY2026) rose to RM32.41 million from RM21.62 million a year earlier, mainly driven by the performance of the DPulze Shopping Centre in Cyberjaya and KIPMall Desa Coalfields in Sungai Buloh.
KIP RIET acquired the DPulze Shopping Centre in December 2024 and KIPMall Desa Coalfields in August 2025. The DPulze Shopping Centre contributed 21.9%, or RM7.1 million, of its NPI for the latest quarter.
The retail-centric REIT’s revenue rose 44.9% to RM43.47 million from RM30 million previously.
It declared a distribution per unit of 1.7 sen for the quarter, payable on March 3.
For the six months ended Dec 31, 2025 (6MFY2026), NPI rose 50.5% to RM62.13 million from RM41.29 million in the same period a year earlier, as revenue increased 48.6% to RM84.24 million from RM56.71 million.
Malls under the REIT's portfolio are expected to see increased footfall in the coming quarter, given the upcoming festive seasons, coupled with the Sara scheme rollout in February, KIP REIT CEO Valerie Ong said.
“The Sara scheme directly benefits essential spending categories such as fresh markets and value retailers, which form a core part of our tenant mix, thereby supporting repeat visits and tenant sales,” Ong said in a statement on Wednesday.
“Coupled with the grand reopening of the transformed KIPMall Tampoi and improving economic conditions, we remain positive about our trajectory for the year,” she added.
Units in KIP REIT ended half a sen or 0.54% higher at 93.5 sen on Wednesday, valuing it at RM896.3 million.
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