KUALA LUMPUR (Aug 4): Despite the tough operating landscape and recent slowdown in retail spending due to the Covid-19 pandemic, Pavilion KL is expecting new brands to open in its mall. The local research house added that Pavilion KL’s occupancy rate remained strong at 96.4% in June versus last year’s 95.6%. Meanwhile, CGS-CIMB Research noted that half of the roughly 200 tenants at Pavilion Mall were still negotiating their leases as at the end of June. For the six months ended June 30, 2020, Pavilion REIT declared a dividend per unit of 1.61 sen. Aside from Pavilion KL, Pavilion REIT's other assets are Intermark Mall, Elite Pavilion Mall, and Pavilion Tower here, and DA MEN Mall in Subang Jaya.

Source: The Edge Markets August 04, 2020 02:26 UTC