IGB-REIT property portfolio up RM166mil

The market value of Mid Valley Megamall is RM3.79bil.

KUALA LUMPUR: IGB Real Estate Investment Trust (IGB-REIT) carried out a revaluation on two of its properties resulting in a revaluation surplus of RM166mil.

“The portfolio of IGB-REIT’s properties is revalued at RM5.186bil or a revaluation surplus of RM166mil from RM5.02bil previously,” IGB-REIT said in a filing with Bursa Malaysia.

The market value of Mid Valley Megamall is RM3.79bil while The Gardens Mall is valued at RM1.396bil as at Sept 30.

IGB-REIT said the revaluation was carried out by Henry Butcher Malaysia Sdn Bhd.

The new valuations will be reflected in IGB-REIT’s unaudited interim financial results for the third quarter of 2023.

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