Sunway REIT expects stable outlook

Sunway's iconic pyramid

PETALING JAYA: Sunway Real Estate Investment Trust (REIT) is expected to see stable outlook for its office and other divisions, says MIDF Research following a virtual meeting with its managers.

“Performance of the office division was stable in the first quarter of financial year 2021 (FY21) by recording a 10% increase in net property income. The office division is expected to remain stable in the near-term as rental reversion is expected to be flattish, ” it said.

“Earnings from the services segment is expected to remain encouraging as rental reversion of Sunway Medical Centre and Sunway university and college campus will remain in positive territory due to fixed annual rental reversion, ” it added.

Sunway REIT is looking to expand its portfolio mainly in services and the industrial segment through asset acquisitions or mergers and acquisitions to achieve its target asset size of RM13bil to RM15bil by the year 2025 from RM8bil.

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