Kuala Lumpur: IGB Real Estate Investment Trust (REIT) has announced a rise in its net profit for the first quarter ended March 31, 2025, amounting to RM106.58 million, up from RM99.61 million in the same period in 2024. Revenue for the period increased by 5.4 percent, reaching RM171.44 million compared to RM162.56 million previously, as reported by IGB REIT Management Sdn Bhd in a filing with Bursa Malaysia.

According to BERNAMA News Agency, the net property income (NPI) also saw an increase, rising by 7.1 percent to RM133.1 million in the first quarter of 2025 from RM124.2 million in the first quarter of 2024. The growth in both revenue and NPI was largely attributed to higher rental income during the period.

The management of IGB REIT has proposed a distribution per unit (DPU) of 3.19 sen for the first quarter of 2025, which is an increase of 0.23 sen or 7.8 percent compared to the first quarter of 2024. This results in an annualised distribution yield of 5.75 percent, based on IGB REIT’s unit price of RM2.25 as of March 31, 2025.

Looking forward, IGB REIT is committed to delivering long-term value to its stakeholders through continuous property upgrades, management of tenancy mix, and sustainability-linked improvements. The trust owns two major retail assets, Mid Valley Megamall and The Gardens Mall, situated in Mid Valley City within the Klang Valley.

Focusing on customer experience and cost efficiency, the manager has indicated that both malls are undergoing asset enhancement initiatives aimed at upgrading their spaces and streamlining operations. IGB REIT is managed by IGB REIT Management, which is dedicated to increasing income and enhancing asset value over time, with the objective of maximising returns from its investments.