Wisma AmFirst, a property under the portfolio of AmFirst REIT.Wisma AmFirst, a property under the portfolio of AmFirst REIT. (Photo: AmFirst REIT)

Malaysia-listed AmFirst REIT announced on 21 November that its realised gross revenue for 2Q FY2024 was lower by 3.8% compared to preceding year’s corresponding quarter.

This was mainly due to the disposal of Menara AmFIRST effective from 15 November 2022.

In addition to that, there was lower average occupancy at Wisma AmFIRST and Menara AmBank due to non-renewal and downsizing of tenancies.

Notwithstanding, the REIT registered higher average occupancy at The Summit Retail and Office including Jaya 99, which has partially offset the above reduction in revenue, it added.

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By Shariffa Al-Habshee

Shariffa joined REITsWeek in 2017, and monitors Asia-Pacific REITs for the publication.