Pavilion-REIT Q1 earnings increase

Pavilion-REIT said the growth in quarterly revenue was mainly due to higher contribution from rental income, spurred by increased occupancy, revenue rent, advertising and marketing income for retail malls.

PETALING JAYA: Pavilion Real Estate Investment Trust (Pavilion-REIT) expects consumer spending in retail sales to stay resilient, despite concerns of the rising cost of living.

Citing data by Retail Group Malaysia (RGM), Pavilion-REIT told Bursa Malaysia that the country’s retail industry had recovered to 2019 levels, which recorded a positive growth rate of 33% for 2022.