AME-REIT likely to maintain 100% occupancy rate

TheStar Fri, Nov 10, 2023 12:00am - 3 months View Original


PETALING JAYA: AME Real Estate Investment Trust (AME-REIT) will likely deliver commendable results in the financial year 2024 (FY24) even as its occupancy rate is maintained at 100%, according to Hong Leong Investment Bank Research (HLIB Research).

The research house noted that seven out of its 12 leases, which are set to expire in FY24, were renewed while it also had a new tenant replacement.

It noted that the company was expecting a 100% renewal rate for the remaining of its four properties.

“Post-completion of Plot 16 @ Indahpura acquisition, combined with an average rental reversion of 7% to 8% for the renewed leases, the AME-REIT should be able to deliver decent results for the remainder of FY24,” the research house said.

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