IGB REIT Q2 profits rise on Mid Valley

IGB Real Estate Investment Trust reported a strong Q2 2026 performance, boosted by the full-quarter contribution from The Mall, Mid Valley Southkey, and higher rentals at Mid Valley Megamall and The Gardens Mall, with NPI up about 51% to RM181.2 million and revenue up roughly 50.5% to RM241 million. IGB Commercial REIT also posted solid quarterly gains, with NPI up 18.5% to RM45.1 million and revenue up 10.3% to RM71.23 million, supported by higher occupancy and improved rental rates. For the first half of 2026, IGB REIT’s net profit rose to RM302.08 million and revenue to RM502.29 million, while IGB Commercial REIT delivered RM35.01 million in quarterly profit on RM71.235 million in revenue. The groups say they remain confident in the resilience of Malaysia’s retail sector and will focus on maintaining high occupancy, proactive leasing, cost discipline, asset enhancements, and value creation for unitholders, aided by the ongoing contribution from MVS Mall. Distributions were declared for the period, with IGB REIT at 3.44 sen per unit and IGB Commercial REIT at 1.35 sen per unit. The outlook emphasizes continued asset management and sustainable growth to support the portfolio’s long-term performance amid a selective spending environment and economic uncertainty.