IGB Commercial Real Estate Investment Trust, the country's largest standalone office REIT by net lettable area, reported a marginal 3% increase in its net property income for its second quarter ended June 30, 2023 (2QFY2023) to RM31.11 million from RM30.08 million a year ago, as it recorded higher revenue on higher occupancy rate.
IGB Real Estate Investment Trust’s (REIT) net property income (NPI) for the second quarter ended June 30, 2023 (2QFY2023) fell 2.76% to RM102.79 million, from RM105.72 million a year ago, due to higher utility expenses and higher reversal for impairment of trade receivables in the same period last year.
Noteworthy:
When: May 2023
Demand for offices in KL Fringe and KL City submarkets will continue to be high for the second quarter of 2023, according to JLL Property Services (M) Sdn Bhd’s Greater Kuala Lumpur Property Market Monitor 2Q2023.
Come Aug 1, KLIA Ekspres trains that connect KL Sentral to KLIA Terminal 1 and 2 will run every 20 minutes every day, including national holidays, said its operator Express Rail Link Sdn Bhd (ERL).
Penang-based Ideal Property Group has inked a memorandum of understanding with lithium battery separator industry player ShenZhen Senior Technology Material Co Ltd to develop Penang Technology Park (PTP)@ Bertam.
SCP Property Services Sdn Bhd’s first build-then-sell project, Societe in Desa Sri Hartamas, is more than 60% sold following its official launch on July 15.
Tropicana Corp Bhd is ‘Redefining the Art of Highland Living’ with a “grand masterplan” for the 596-acre Tropicana WindCity in Genting Highlands, comprising Tropicana Grandhill, Tropicana Paradise and Tropicana Avalon.
Setia EcoHill in Semenyih is rewarding its existing and new homebuyers with special rebates for a limited time.
Noteworthy:
When: March 2023
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