AmanahRaya Real Estate Investment Trust (“AmanahRaya REIT”) announced its financial results for the first quarter ended 31 March 2026 (“Q1 FY2026”), delivering a stronger set of operational and earnings performance, driven by improved occupancy, higher rental contributions, and continued asset enhancement and leasing initiatives.
For the current quarter, AmanahRaya REIT recorded total rental income of RM23.20 million, representing an increase of 16.4% from RM19.92 million in the corresponding quarter last year.
The improved performance was mainly attributable to higher occupancy at Vista Tower and Menara Dana 13, alongside improvement on rental contributions from properties. Earnings were further supported by contributions from the newly acquired industrial asset in Telok Panglima Garang, following the completion of the acquisition in December 2025.
Net property income (“NPI”) rose 28.6% year-on-year to RM16.38 million from RM12.73 million previously, supported by higher rental revenue and improved operational efficiency. Net income for Q1 FY2026 increased by 61.4% to RM5.44 million from RM3.37 million in the corresponding quarter last year, reflecting stronger core operating performance across the Trust’s portfolio.
Meanwhile, property operating expenses declined by 5.2% to RM6.82 million from RM7.19 million previously, primarily due to improved contract management and ongoing cost optimisation initiatives across several properties. Total trust expenses increased 14% to RM10.66 million from RM9.37 million, in tandem with increase of total rental income which include manager and agency fees and borrowing facility for new asset acquisition in December 2025.
As at 31 March 2026, AmanahRaya REIT’s Net Asset Value (“NAV”) stood at RM720.73 million, translating into a NAV per unit of RM1.2573, compared to RM1.2479 as at 31 December 2025. The Trust’s gearing ratio remained manageable at 45.92%.
Datuk Mohd Iskandar Dzulkarnain Ramli, Managing Director of AmanahRaya-Kenedix REIT Manager Sdn. Bhd. (“AKRM”) said,
“The improved quarterly performance reflects the resilience of AmanahRaya REIT’s diversified property portfolio and the effectiveness of our ongoing asset enhancement and leasing initiatives. The recovery in occupancy levels and contribution from newly acquired assets continue to strengthen recurring income visibility and operational stability.”
Looking ahead, the Manager remains focused on enhancing portfolio quality through asset rejuvenation, tenant optimisation and prudent capital management initiatives alongside efforts to revitalise selected assets within the portfolio and recycle capital from ageing properties, are expected to support the Trust’s longer-term income sustainability and portfolio value creation.
