CapitaLand acquired Tropicana properties for RM540 million

CapitaLand Malaysia Mall REIT Management Sdn Bhd (CMMT) purchased Tropicana properties for RM540 million, which include Tropicana City Mall, Tropicana City Office Tower as well as Gurney Plaza in Penang and East Cost Mall in Kuantan, Pahang.

(The Star, 15/04/2016)

Cautious view maintained on REIT players’ outlook

A cautious view is reiterated on the overall operating environment amidst subdued consumer sentiment. As the overall sentiment remains weak the management have taken a more cautious stance in guiding lower rental reversion on the upcoming renewals. On the office properties, the market is rather soft with potential tenants taking longer time to take up spaces and rental reversion for office space is likely to be slow. The situation is further dampened by the huge NLA supply in the pipeline.

(The borneo post, 26/04/2016)

Hektar REIT eyeing malls in second-tier cities

Hektar Real Estate Investment Trust (REIT) is identifying potential acquisition targets across the country to widen its portfolio under management. Its portfolio currently comprises shopping malls: Subang Parade in Subang Jaya, Mahkota Parade in Melaka, Wetex Parade in Muar, Johor, Central Square and Landmark Central in Kedah. They had a total net lettable area (NLA) of 1.8 millionsf, with average occupancy rate of 96.6% as at Dec 31, 2015. Currently, the trust manager is keen to purchase a neighbourhood mall in one of the country’s second-tier cities and has allocated RM20 million to raise the overall NLA of Landmark Central in Kulim, Kedah by 20,000sf to 300,000sf.

(The edge property, 26/04/2016)