KUALA LUMPUR: IGB Real Estate Investment Trust
(IGB REIT) carried out a revaluation on two of its properties resulting in a revaluation surplus of RM166mil.
“The portfolio of IGB REIT’s properties is revalued at RM5.186bil or a revaluation surplus of RM166mil from RM5.02bil previously,” IGB REIT said in a filing with Bursa Malaysia.
The market value of Mid Valley Megamall is RM3.79bil while The Gardens Mall is valued at RM1.396bil as at Sept 30.
IGB REIT said the revaluation was carried out by Henry Butcher Malaysia Sdn Bhd.
The new valuations will be reflected in IGB REIT’s unaudited interim financial results for the third quarter of 2023.
“The net asset value per unit of IGB REIT will be RM1.1223 upon incorporation of the revaluation surplus of RM166mil,” it said.
