Sunday, May 26

The property portfolio of IGB REIT increased by RM166 million

Two of the properties owned by IGB Real Estate Investment Trust (IGB REIT) were revalued, resulting in a revaluation surplus of RM166 million.

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

As of September 30, Mid Valley Megamall was worth RM3.79 billion, while The Gardens Mall was worth RM1.396 billion.

The revaluation, according to IGB REIT, was done by Henry Butcher Malaysia Sdn Bhd.

The unaudited interim financial results of IGB REIT for the third quarter of 2023 will reflect the new valuations.

“The net asset value per unit of IGB REIT will be RM1.1223 upon incorporation of the revaluation surplus of RM166mil,” it said.

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