“The overall year-on-year improvement in 1H22 was mainly due to improving retail sales arising from better shopper footfall with the transition to endemicity. Both properties – the Midvalley Megamall and the Gardens Mall’s occupancy remained robust, at more than 99% while gearing stood at 23%,"
KUALA LUMPUR: IGB Real Estate Investment Trust
’s (IGB-REIT) prospects continue to be bright amid the lifting of restrictions and reopening of international borders.
Following IGB-REIT’s announcement of its first-half 2022 (1H22) earnings, Hong Leong Investment Bank (HLIB) Research said shopper traffic in the REIT’s properties of the Midvalley Megamall and the Gardens Mall will continue to be elevated.
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