IGB REIT Q2 profits rise on Mid Valley
IGB REIT posted a 50%+ jump in Q2 2026 net profit to RM139.27 million and revenue to RM240.95 million, with net property income at RM181.2 million, helped by Mid Valley Southkey and higher rents from Mid Valley Megamall and The Gardens Mall; IGB Commercial REIT followed with Q2 net income of RM35.01 million on RM71.24 million revenue, up 10.3%. For the first half, group revenue rose about 51% and NPI about 53%, and both REITs signaled ongoing focus on high occupancy, proactive leasing and asset enhancements to sustain resilience, with quarterly distributions declared.
Business · 6 sources · Jul 22, 2026Read itThe journal
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About The Gardens Mall
The Gardens Mall is a two-story, enclosed shopping mall in Palm Beach Gardens, Florida. The mall features Macy's, Bloomingdale's, Saks Fifth Avenue, and Nordstrom. A former anchor store, Sears, closed in February 2024. Dick's Sporting Goods has attempted to operate out of the space for sometime now and eventually was able gain approval to after Sears abruptly closed down. The space is set to become a Dick's House of Sport by Spring 2028.
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