Amanah Raya Real Estate Investment Trust (“AmanahRaya REIT”) recently announced its ambitious goal to achieve a minimum of 90% portfolio occupancy rate by the financial year ending December 31, 2025 (FY2025).
This announcement was made during the Annual General Meeting today by the Managing Director of Amanah Raya REIT, YM Tunku Rozita, underscoring the firm’s dedication to enhancing value for unitholders and solidifying its position as a listed REIT on Bursa Malaysia.
The rise in occupancy rates, particularly for Vista Tower, is expected to significantly augment AmanahRaya REIT’s earnings potential.
In her speech, Tunku Rozita said, “We aim to attain at least 90% occupancy rates for the Fund’s portfolio by FY2025. Presently, we are engaged in active discussions with numerous potential tenants, and the prospects appear promising.”
Additionally, she said, “As the largest asset within the portfolio, we anticipate Vista Tower’s occupancy rate to surge to 60% by July 2024, up from 35% at the close of FY2023, primarily attributed to the influx of new tenants.
Looking ahead, we are optimistic that this positive momentum will persist throughout FY2024, with the potential to reach at least 70% occupancy rates.”
AmanahRaya REIT’s current portfolio encompasses 11 properties, including educational assets such as SEGI University Kota Damansara, SEGI College Subang Jaya, and Help University campuses. The portfolio also spans properties in the industrial, retail, and hospitality sectors.
In line with its strategic direction, Amanah Raya REIT has announced its decision to fully divest from the hospitality sector. Tunku Rozita highlighted, “We remain focused on enriching our portfolio with high-quality assets. Our priority is to ensure that any acquisition significantly contributes to our earnings and overall yield.”
She added, “Our attention will primarily be on educational assets, industrial properties, particularly in logistics, and wellness facilities. We are ready to seize attractive opportunities that can drive our earnings growth.”
