Landmark REIT has announced a 2.8% increase in gross revenue, reaching S$103m for the first half of 2026. This growth is attributed to positive rental reversions and improved leasing across its portfolio, according to the manager, Landmark REIT Management Ltd. Rental revenue also saw a 3.5% rise to S$56.5m, whilst net property income climbed 4.9% to S$61.1m.
The Trust’s portfolio maintained a healthy occupancy rate of 86.5%, supported by ongoing asset enhancement activities and tenant optimisation efforts. Chief Executive Officer James Liew highlighted the strategic focus on enhancing the quality and resilience of the portfolio, stating, “Through a series of major refurbishments and targeted asset enhancement initiatives, we have enhanced the competitiveness of our malls.”
Significant refurbishments are underway at key locations such as Lippo Icon Cibubur and Lippo Mall Nusantara, aimed at elevating the shopper experience. The Trust also reported a positive rental reversion of 2.4% and successfully renewed 79.3% of expiring leases.
Financially, Landmark REIT improved its capital structure, reducing total debt by 11.5% to S$574.6m and lowering its gearing ratio to 39.63%. The Trust plans to resume distributions to unitholders in FY2027, contingent upon continued financial improvements.
Looking ahead, the Trust remains focused on disciplined execution amidst global market volatility and geopolitical uncertainties, prioritising asset enhancement and prudent capital management.
