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AmanahRaya REIT Re-Aligns Its Portfolio Whilst Seeing Occupancy Rate Turnaround For Vista Tower

AmanahRaya REIT

AmanahRaya Real Estate Investment Trust (“AmanahRaya REIT”) targets to achieve at least 90% of its portfolio occupancy rate by the financial year ending 31 December 2025 (FY2025). 

At the Annual General Meeting today, AmanahRaya REIT’s Managing Director, YM Tunku Rozita said that the ambitious target reflects AmanahRaya REIT’s commitment to maximising value for unitholders and strengthening its position as a listed REIT on Bursa Malaysia. 

The increase in occupancy rates for Vista Tower is poised to significantly bolster the earnings potential for AmanahRaya REIT.

YM Tunku Rozita in her remarks, said ‘We aim to achieve at least 90% occupancy rates for the Fund’s portfolio by the financial year ending 2025. Currently, we are in active discussions with numerous potential tenants, and the outlook is quite promising. Being the largest asset within the portfolio, we anticipate that the occupancy rate for Vista Tower to reach 60% by July 2024, up from 35% at the end of FY2023, primarily due to the influx of new tenants.’

‘Looking ahead, we are confident that this positive trend will continue throughout FY2024, with the potential to reach at least 70% occupancy rates. The new leases we are securing have tenures ranging from 2 to 3 years, providing stability, and contributing to our long-term growth strategy,’ she added.

AmanahRaya REIT’s current portfolio comprises 11 properties, including the educational assets of SEGi University Kota Damansara, SEGi College Subang Jaya and Help University campuses. The portfolio also encompasses a variety of properties in the industrial, retail, and hospitality sectors. 

Moving forward, AmanahRaya REIT has announced its strategic decision to fully divest from the hospitality sector, aligning with its ongoing initiative to optimise the portfolio by acquiring high-yielding assets and divesting non-core strategic assets. 

YM Tunku Rozita, commenting on growth strategy, emphasised, ‘We remain focused on enhancing our portfolio with good quality assets. While evaluating numerous proposals, our priority is to ensure that any acquisition contributes significantly to our earnings and overall yield. 

Our focus will primarily be on educational assets, industrial properties, particularly in logistics, and wellness facilities. We are prepared to seize attractive opportunities that can drive our earnings growth.’

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