Sunway REIT sees big returns from Putra Place

Sunway REIT's media briefing by Datuk Jeffery Ng Tiong Lip. From Left to Right: CEO Datuk Jeffery Ng, CFO Wai Sow Fun.

PETALING JAYA: Sunway Real Estate Investment Trust (REIT) Management Bhd, the manager of Sunway REIT, expects its close to RM1bil investment in Sunway Putra Place in Kuala Lumpur to contribute positively to its income with the property’s scheduled opening next year.

“We are very confident that there will be a quantum leap in earnings after the mixed development is completed and there will also be a capital revaluation potential given the NAV (net asset value) upside. This is a very positive milestone for growth in our financial numbers,” chief executive officer Datuk Jeffrey Ng told a press briefing yesterday.