IGB REIT revenue rose 50.5% in the second quarter to 241 million ringgit
Key Facts
IGB REIT’s revenue rose 50.5% year on year to 241 million Malaysian ringgit in the second quarter of 2026, compared with 160.1 million ringgit in the same period of 2025, according to The Edge Malaysia. These figures relate to the second quarter, not the third quarter as stated in the previous draft. The fund’s official open announcements page lists second-quarter results on July 22, 2026, alongside first-quarter results on April 29, with no announcement of third-quarter results. The fund describes its portfolio as retail properties, while IGB Commercial REIT is a separate fund.
The second-quarter report said the increase in property income came from several sources within the portfolio. Mid Valley Southkey Mall contributed additional income, alongside higher rental revenue at Mid Valley Megamall and The Gardens Mall. The Edge quoted the report as saying the increase was “driven by additional income from Mid Valley Southkey Mall and higher rental revenue at Mid Valley Megamall and The Gardens Mall.” BernamaBiz reported that the fund’s management attributed revenue and profit growth in the second quarter mainly to Southkey’s contribution and higher rents at the other two malls. The reported growth was therefore linked to the contribution of a specific mall and improved rents at two existing assets.
The third-quarter results for 2025 provide an earlier year-on-year comparison: the fund’s revenue then was 165.2 million ringgit, up 6.4% from 155.3 million ringgit in the third quarter of 2024, according to an IGB REIT statement. The fund manager also approved a distribution of 2.77 cents per unit in the third quarter of 2025, totaling 100.5 million ringgit. These figures relate to the corresponding period of the previous year and do not establish a distribution amount for the third quarter of 2026. The open announcements record shows that the second-quarter results for 2026 were listed on July 22, while the first-quarter results were listed on April 29. No announcement of third-quarter results appeared on the open page.
In its sector outlook, IGB REIT said Malaysia’s retail sector would remain resilient in 2026, citing domestic economic growth, tourism and stable employment, according to The Edge. In its second-quarter report, the fund’s management had said that a full financial year of contribution from Southkey Mall, along with ongoing asset enhancement initiatives, would support the portfolio. The fund said the mall’s full contribution and enhancement initiatives “will continue to support the portfolio.” These factors put management’s outlook in the context of expanding asset contributions and improvements, alongside the demand indicators it cited for the sector. The available information in the open official announcements does not establish third-quarter results or a distribution.
The fund’s units reached a high of 3.16 ringgit on May 15, 2026, before retreating to close at 2.75 ringgit on August 28, according to coverage by The Edge. The price movement provides context on unit trading during the year, but does not establish a reaction to third-quarter results. On occupancy, a report published in October 2026 said the rate stood at 99.8% at Mid Valley Megamall, 99.1% at The Gardens Mall and 100% at Mid Valley Southkey at the end of 2025. These figures show occupancy levels at the three assets at the end of that year, while third-quarter 2026 results remain unconfirmed in the open announcements record.