Latest news with #SentralRealEstateInvestmentTrust
The Star
27-05-2025
- Business
- The Star
Sentral-REIT buys retail units for RM70mil
PETALING JAYA: Sentral Real Estate Investment Trust (Sentral-REIT) is acquiring 38 stratified retail units and 1,432 car park bays as part of the Arcoris Plaza Development from UEM Sunrise Bhd for RM70mil. In a filing with Bursa Malaysia, Sentral-REIT said the property is strategically located in Mont Kiara, Kuala Lumpur. 'Sentral-REIT will be able to take advantage of greater economies of scale in the Mont Kiara neighbourhood with the purchase of the property. 'This enables the company to leverage its existing resources (property management and leasing team) to manage the operations at the property.' Sentral-REIT said the prospects of the property are expected to be positive in view of its strategic location, good accessibility and steady income stream.
The Star
27-05-2025
- Business
- The Star
Sentral REIT acquires retail units in Mont Kiara for RM70mil
PETALING JAYA: Sentral Real Estate Investment Trust (Sentral REIT ) is acquiring 38 stratified retail units and 1,432 car park bays as part of the Arcoris Plaza Development from UEM Sunrise Bhd for RM70mil. In a filing with Bursa Malaysia, Sentral REIT said the property is strategically located in Mont Kiara, Kuala Lumpur. 'Mont Kiara is a mature neighbourhood with a large expatriate population, and it fulfils the criteria of a strategic location with good infrastructure, reputable international schools, bustling commercial centres, entertainment and leisure facilities. 'Sentral REIT will be able to take advantage of greater economies of scale in the Mont Kiara neighborhood with the purchase of the property. This enables the company to leverage its existing resources (property management and leasing team) to manage the operations at the property.' Sentral REIT said the prospects of the property are expected to be positive in view of its strategic location, good accessibility, good income stream. 'Premised on the above, the manager believes that the property will add value to the unitholders in the long run.'
The Star
09-05-2025
- Business
- The Star
Sentral REIT to diversify assets to mitigate risks, maximise portfolio
KUALA LUMPUR: Sentral Real Estate Investment Trust (REIT) will be transitioning to a diversified asset base as part of its strategic growth and portfolio rebalancing strategy. In a statement accompanying its first-quarter results, Sentral REIT Management Sdn Bhd CEO Derek Teh Wan Wei said there will be a diversification across office, retail, industrial, education and healthcare asset classes. "While maintaining Sentral's strong office portfolio, the diversification direction is expected to mitigate sector-specific risks, improve property income streams, and maximize portfolio growth potential," he said. Simultaneously, Tan said the REIT will continue to explore opportunistic divestment options to ensure sustainable long-term returns to unitholders. In the first quarter ended March 31, 2025 (1QFY25), Sentral REIT recorded a net profit of RM19.61mil, down from RM19.9mil in the year-ago quarter. Earnings per share slipped to 1.64 sen from 1.66 sen in the comparative quarter. Revenue also declined, from RM49.69mil in 1QFY24 to RM47.46mil in the quarter under review. Sentral REIT has about 460,000 sq ft or 21% of its total committed lettable space due for renewal in 2025. Of this space, 20,000 sq ft of leases will expire in 1Q25, out of which 85% have been successfully renewed. According to Teh, the average occupancy rate was healthy at 84% with a weighted average lease term to expiry at 4.74 years. "Early negotiations for upcoming lease renewals and advanced marketing of vacant spaces are already in progress, with the aim to sustain and improve the portfolio occupancy this year,' he said.
