KUALA LUMPUR: Sunway Real Estate Investment Trust
(SunREIT) has a cautiously optimistic outlook for 2026, underpinned by a strengthened portfolio following acquisitions in previous years and the continued execution of asset enhancement initiatives, it said in a results filing to Bursa Malaysia today.
In the first quarter of its financial year, SunREIT posted a net profit of RM109.04mil, up from RM98.56mil in the year-ago quarter, which translates to an earnings per share of 3.18 sen as compared to 2.88 sen previously.
Quarterly revenue rose to RM223.01mil from RM218.86mil in the previous comparative quarter.
According to the filing, the REIT's retail segment in 1Q26 saw a 10% year-on-year increase to RM185mil due to resilient consumer spending during the festive periods, coupled with incremental rental contributions from the newly acquired AEON Mall Seri Manjung commencing July 2025, as well as the full re-opening of Sunway Carnival Mall's old wing in May 2025.
SunREIT's hotel segment logged a 19% lower revenue of RM13mil compared to 1Q25, as travel activity subsided after the year-end and Middle East conflicts led to flight disruptions and elevated fuel costs.
The office segment registered a 1% marginal decline in revenue to RM20.3mil due to lower occupancy in Wisma Sunway. It noted, however, that the property is expected to achieve full occupancy by 4Q26.
Revenue for the industrial and others segment in 1Q26 surged 15% to RM4.8 million, largely supported by higher occupancy at Sunway REIT Industrial – PJ 1.
“We are pleased to report that Sunway REIT delivered a stronger performance in the first quarter of FY2026, underpinned by the continued strength of our Retail segment and steady contributions from our diversified portfolio," said Sunway REIT Management Sdn Bhd CEO Derek Teh Wan Wei in a statement.
"We are delighted to report the strong er performance of Sunway Carnival Mall, where retail sales per sq. ft. grew by over 16% y-o-y in Q1 2026 and established its position as the preferred retail destination in the mainland Penang. This milestone underscores the success of
our asset enhancement strategy and validates our decision to proceed with the full refurbishment.”
Moving forward, he said the Manager will continue to focus on operational excellence, proactive asset enhancement initiatives, tenant mix optimisation, and sustainability-driven improvements to strengthen the long-term competitiveness of our assets and deliver sustainable value creation for our unitholder.
