PETALING JAYA: IGB Real Estate Investment Trust
(IGB-REIT) has carried out a revaluation on two of its investment properties resulting in a revaluation surplus of RM264mil.
The portfolio of IGB-REIT’s properties is revalued at RM5.45bil as of Dec 31, 2024, or a revaluation surplus of RM264mil from RM5.186bil as of Sept 30. The market value of Mid Valley Megamall is RM4bil, while The Gardens Mall is valued at RM1.45bil as at Dec 31.
“Based on the unaudited results for the financial year ended Dec 31, 2024, the net asset value or NAV per unit of IGB-REIT was RM1.18 (after accounting for the total fair value gain of RM225.01mil),” it said in a filing with Bursa Malaysia.
The valuation exercise was carried out by One Asia Property Consultants (KL) Sdn Bhd.
