PETALING JAYA: Sunway Real Esate Investment Trust (Sunway-REIT) posted a net property income (NPI) of RM89.1mil, a marginal slide of 3.1% year-on-year for the quarter ended Sept 30 (3Q24), although turnover was up 9.3% to RM192.1mil.
Cumulatively for the nine-month period (9M24), however, NPI climbed 23.2% y-o-y to RM321.2mil, as revenue also increased 4% to RM546.3mil.
The investment manager attributed the 9M24 results primarily to robust performance from retail and hotel segments, along with resilient performance from the other segments.
Accordingly, Sunway-REIT said the retail segment’s positive trajectory is expected to continue in the coming quarters, supported by the opening of Oasis wing at Sunway Pyramid Mall.
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