SUNWAY REIT DECLARES RECORD HIGH FY2025 DPU OF 14.48 SEN, FULL YEAR NPI UP 15.5%

SUNWAY REIT DECLARES RECORD HIGH FY2025 DPU OF 14.48 SEN, FULL YEAR NPI UP 15.5%

Key Highlights:
o Full year revenue and NPI rose by 16.6% and 15.5% respectively in FY2025, driven by contributions from new acquisitions and strong performance across the Retail and Industrial & Others segments.
o Sunway REIT proposes its highest-ever DPU of 14.48 sen for FY2025, up from 10.0 sen in FY2024.

Sunway City Kuala Lumpur, 29 January 2026 – Sunway REIT Management Sdn. Bhd., the Manager of Sunway Real Estate Investment Trust (“Sunway REIT”) is pleased to release its financial results for the fourth quarter ended 31 December 2025 (“Q4 2025”).

Sunway REIT recorded revenue growth of 3.1% in Q4 2025 to RM227.6 million, compared with RM220.9 million in Q4 2024. Net property income (“NPI”), however, edged marginally lower by 0.4% to RM165.0 million from RM165.6 million in the corresponding quarter last year. For the financial year ended 31 December 2025 (“FY2025”), Sunway REIT reported revenue of RM894.3 million and NPI of RM658.0 million. The strong full-year performance was primarily driven by full-year contributions from properties acquired in 2024, the acquisition of AEON Mall Seri Manjung during the year, and robust performances across the Retail and Industrial & Others segments.

In Q4 2025, the Retail segment sustained its strong growth momentum, with revenue rising 16.2% to RM173.1 million from RM149.0 million in Q4 2024. The increase was primarily driven by new income contributions from Sunway Kluang Mall and AEON Mall Seri Manjung, acquired in December 2024 and July 2025 respectively. Performance was further supported by the completion of the phased refurbishment of Sunway Carnival Mall’s existing wing in May 2025, as well as the refurbishment of the Oasis precinct at Sunway Pyramid Mall in November 2024. As a result, the segment’s NPI climbed 17.0% to RM121.2 million, compared with RM103.5 million in the corresponding period last year. The Retail segment’s positive momentum is expected to strengthen further in the coming quarters with the Government’s recent announcement of a 2% reduction in service tax for rental and leasing services from 8% to 6%, underpinned by full-year contributions from AEON Mall Seri Manjung.

The Hotel segment recorded a 7.2% increase in revenue to RM29.9 million in Q4 2025, up from RM27.9 million in Q4 2024, driven by stronger tourism activity, particularly during the festive season and year-end holidays. Correspondingly, NPI rose by 7.3% to RM28.7 million from RM26.8 million a year earlier. The improved performance was largely supported by higher occupancy levels at Sunway Resort Hotel and Sunway Hotel Seberang Jaya, underpinned by increased leisure travel during the quarter.

In Q4 2025, the Office segment recorded a slight revenue decline of 3.0% to RM19.9 million, compared with RM20.5 million in the corresponding quarter last year. NPI also fell by 6.8% to RM11.5 million from RM12.4 million. The softer performance was mainly attributable to the non- renewal of a tenant at Wisma Sunway in June 2025, as well as a temporary dip in occupancy at Sunway Putra Tower during the year. Despite this, the Office segment is expected to remain resilient in 2026, underpinned by secured tenancies at Sunway Putra Tower raising its occupancy from 68% in Q3 2025 to 82% as at Q4 2025.

Following the disposal of Sunway university & college campus on 30 September 2025, there was no income reported in the Services segment for Q4 2025.

In Q4 2025, the Industrial & Others segment delivered strong growth, with revenue and NPI rising by 34.9% and 20.1% to RM4.7 million and RM3.5 million respectively. The improved performance was driven by rental contributions from new tenants at Sunway REIT Industrial – Petaling Jaya 1, as well as a full-quarter contribution from Sunway REIT Industrial – Prai. The Industrial & Others segment is expected to continue performing well in 2026, supported by committed tenancies at Sunway REIT Industrial – Petaling Jaya 1.

The Manager proposed a record-high distribution per unit (“DPU”) of 8.80 sen for the second half of FY2025, of which 3.98 sen for Q3 2025 was paid on 24 December 2025, with the balance payable on 27 February 2026. This brings the total DPU for the full financial year to 14.48 sen, exceeding the realised earnings per unit attributable to unitholders of 13.18 sen, mainly due to the crystallisation of unrealised fair value gains from prior years following the disposal of Sunway university & college campus. Meanwhile, Sunway REIT’s unit price increased by 46 sen, or 24.9%, from RM1.85 at the end of FY2024 to RM2.31 at the end of FY2025. Based on the closing unit price of RM2.31, the total DPU of 14.48 sen represents a distribution yield of 6.3% and total returns of 31.2% to unitholders for FY2025.

Commenting on Sunway REIT’s FY2025 performance, the Chief Executive Officer of Sunway REIT Management Sdn. Bhd., Derek Teh Wan Wei, said “Sunway REIT delivered a record-high DPU of 14.48 sen for FY2025, underpinned by a 15.5% increase in net property income to RM658.0 million driven by contributions from new acquisitions and the successful completion of asset enhancement initiatives for Sunway Carnival Mall. In addition, Sunway REIT generated a distribution yield of 6.3% and total returns of 31.2% for the financial year, while its unit price rose 24.9% year-on-year to close at RM2.31 as at 31 December 2025, reflecting consistent execution in portfolio management and continued investor confidence in Sunway REIT’s strategy.”

He added, “On the business development front, Sunway REIT has completed the acquisition of AEON Mall Seri Manjung on 25 July 2025, marking our second property in the state of Perak. As part of capital recycling initiative, the disposal of the Sunway university & college campus was completed on 30 September 2025 at a consideration of RM613 million, resulting in a total gain of RM41 million. This comprised RM20 million of cumulative fair value gains recognised over prior years and a disposal gain of RM21 million, inclusive of incidental disposal costs. Additionally, Sunway REIT has announced the proposed disposal of Sunway Hotel Seberang Jaya to Sunway Medical Penang Sdn. Bhd. to facilitate the development of a new Sunway Hotel Seberang Jaya integrated atop the Sunway Carnival Mall, which is expected to enhance guest convenience and drive higher footfall to the mall. The proposed disposal is expected to be completed in the fourth quarter of 2027.”

“In terms of achievements, Sunway REIT attained a FTSE4Good score of 4.0, placing it in the second-highest tier of the FTSE4Good assessment. During the year, six green buildings were certified, with Sunway Putra Tower and Sunway Pyramid Hotel achieving GreenRE Platinum certification. In addition, Sunway REIT was awarded a Gold accolade at the NACRA Awards ceremony held on 27 November 2025. These achievements underscore Sunway REIT’s strong commitment to sustainability and reinforce its standing as one of the leading REITs in terms of sustainability performance.”

He concluded, “Looking ahead, we remain focused on disciplined capital management, proactive asset optimisation and selective acquisitions to sustain income resilience and long- term growth. Supported by a diversified, high-quality portfolio and a strong balance sheet, Sunway REIT is well positioned to navigate market uncertainties while continuing to deliver stable distributions and value creation for our unitholders.”

— end of press release —

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