REIT Outlook Remains Positive With Retail Shining In 2H
REIT Outlook Remains Positive With Retail Shining In 2H
Occupancy rates in shopping complexes have rebounded, reaching 77.6% in 1QCY24, driven by increased shopper footfall and tenant sales. However, office occupancy rates remain subdued at 72%, reflecting ongoing challenges in the office segment due to surplus office space and evolving work environments.The Malaysian REIT sector demonstrates resilience and growth potential, supported by a positive performance across various REITs. According to MIDF Amanah Investment Bank (MIDF) in their report today (July 17, Wednesday), the sector has seen an encouraging earnings recovery, particularly in retail and hotel segments, driven by higher tourist arrivals and economic reopening.
基於各種不同的REIT表現積極，馬來西亞信託部門展示出彈性和增長潛力。MIDF Amanah投資銀行（MIDF）今天（7月17日，星期三）在其報告中表示，該部門已經看到一個令人鼓舞的收益復甦，特別是在零售業和酒店業領域，這是由於更高的遊客到訪和經濟復甦所推動的。
MIDF maintains a POSITIVE outlook on the REIT sector, citing stable earnings expectations and optimistic prospects. Sunway REIT and Pavilion REIT are highlighted as top picks with BUY ratings and revised target prices.
MIDF對信託部門保持積極的展望，稱穩定的盈利預期和樂觀的前景。 Sunway REIt和Pavilion REIt是買入評級和修訂目標價的首選。
Notabaly, several REITs have recorded significant share price increases year-to-date, including YTL Hospitality REIT (+21.6%), Capitaland Malaysia Trust (+21.1%), Pavilion REIT (+20.7%), and IGB REIT (+15.8%). These gains reflect robust earnings recovery and investor confidence amidst sector-wide improvements.
值得注意的是，一些REITs今年迄今已經記錄了顯著的股價增長，包括YTL Hospitality REIt（+21.6％），Capitaland Malaysia Trust（+21.1％），Pavilion REIt（+20.7％）和IGb REIt（+15.8％）。這些收益反映了強勁的收益復甦和投資者對整個部門的信心。
Occupancy rates in shopping complexes have rebounded, reaching 77.6% in 1QCY24, driven by increased shopper footfall and tenant sales. However, office occupancy rates remain subdued at 72%, reflecting ongoing challenges in the office segment due to surplus office space and evolving work environments.
購物中心的入住率反彈，2024年第1季度達到77.6％，主要受到購物者流量和租戶銷售增長的推動。然而，辦公室內的入住率仍然保持在72％的水平，反映出辦公段行業的持續挑戰，由於存在辦公場所過剩和工作環境不斷髮展的情況。
The sector is set for further expansion, with upcoming REIT listings anticipated from property companies seeking to unlock asset values. This initiative is expected to enhance market vibrancy and provide additional investment opportunities in Malaysia's REIT sector.
該部門有望進一步擴展，預計房地產公司將推出即將到來的REIT上市計劃，以實現資產價值的提升。這項倡議有望提高市場活力，併爲馬來西亞的REIT行業提供更多的投資機會。
Sunway REIT anticipates normalised earnings from FY25 onwards following strategic reconfigurations at Sunway Pyramid, while Pavilion REIT has reported strong growth in First Quarter Fiscal Year of 2024 (1QFY24) (+18.7% year-on-year) driven by Pavilion Bukit Jalil and positive rental reversions at Pavilion KL Mall.
Sunway REIt預計在Sunway Pyramid進行了戰略重新配置後，從FY25開始獲得規範化收益，而Pavilion REIt在Pavilion Bukit Jalil和Pavilion KL Mall的積極租金回歸推動下，報告了2024財年第一季度（1QFY24）的強勁增長（同比增長18.7％）。
The earnings outlook for 2QCY24 remains positive, with retail-focused REITs poised to benefit from sustained high shopper footfall and favourable rental trends. Axis REIT also maintains a stable earnings trajectory, supported by robust demand for industrial spaces.
2QCY24的盈利前景仍然樂觀，以零售爲重點的REITs有望從持續高水平的購物者流量和良好的租賃趨勢中受益。 Axis REIt也保持穩健的收益軌跡，這得益於對工業空間的強勁需求。
譯文內容由第三人軟體翻譯。