IGB REIT well-prepared to face uncertainties

For tenancies expiring in FY21 – namely 44% of Mid Valley’s net lettable area (NLA), and 35% of The Garden’s NLA – the group has achieved an average 50% renewal rate based on unchanged rental rates, CGS-CIMB said.

PETALING JAYA: IGB Real Estate Investment Trust (REIT) is in a better position to weather uncertainties as it has a lean balance sheet, said UOB Kay Hian Research.

“We continue to like IGB REIT with a low gearing level of 0.23 times, which is still well below the threshold set by the Securities Commission of 0.6 times (limit is increased to 0.6 times from 0.5 times until December 2022), ” UOB Kay Hian said in its report.