Recovery in tourism sector to spur Sunway-REIT

UOBKH Research said for 2024, it expects both revenue and earnings to increase by 6% and 10%, respectively.

PETALING JAYA: Despite a slight improvement in its topline, Sunway Real Estate Investment Trust’s (Sunway-REIT) performance for the fourth quarter of financial year 2023 (4Q23) was dragged by higher costs.

However, several research houses remain optimistic on the REIT’s performance in financial year 2024 (FY24), led by the recovery in the country’s tourism sector as higher tourist arrivals continue to boost its hotel occupancies and support tenant sales and footfall among its prime malls.