PETALING JAYA (July 8, 2026): IGB Commercial Real Estate Investment Trust (IGB Commercial REIT or IGBCR) has reported a slight increase in the value of its investment property portfolio following its latest independent valuation exercise, with total portfolio value rising to RM3.253 billion as at June 30, 2026, compared with RM3.247 billion at the end of 2025.
According to a Bursa Malaysia filing, the valuation was conducted by Knight Frank Malaysia Sdn Bhd, an independent professional valuer registered with the Board of Valuers, Appraisers, Estate Agents and Property Managers Malaysia.
Portfolio records modest appreciation
The valuation exercise resulted in a gross fair value increase of RM6 million across IGB Commercial REIT's investment properties during the first half of 2026.
After accounting for capitalised asset enhancement initiatives and deferred lease incentives, the trust recorded a net fair value gain of RM841,000 for the six-month period.
As at June 30, 2026, the REIT reported an unaudited net asset value (NAV) of RM0.9603 per unit.
Prime commercial portfolio in Kuala Lumpur
IGB Commercial REIT owns a portfolio of premium office and commercial assets located primarily in Mid Valley City and Kuala Lumpur.
The Mid Valley City portfolio comprises:
Menara IGB & IGB Annexe
Centrepoint South
Centrepoint North
Boulevard Offices & Retail
The Gardens South Tower
The Gardens North Tower
Southpoint Offices & Retail
Its Kuala Lumpur portfolio includes:
Menara Tan & Tan
GTower
Hampshire Place Office
Three properties recorded higher valuations
Most of the REIT's investment properties maintained their previous market values during the latest valuation exercise.
However, three assets registered valuation gains:
Centrepoint North increased by RM1 million to RM197 million.
The Gardens North Tower recorded the largest increase, rising RM4 million to RM392 million.
Southpoint Offices & Retail increased by RM1 million to RM640 million.
The remaining properties retained their previous valuations:
Menara IGB & IGB Annexe – RM190 million
Centrepoint South – RM194 million
Boulevard Offices & Retail – RM81 million
The Gardens South Tower – RM400 million
Menara Tan & Tan – RM255 million
GTower – RM726 million
Hampshire Place Office – RM178 million
Collectively, the portfolio's market value increased by RM6 million, reaching RM3.253 billion.
Adjustments to fair value
The gross valuation increase was adjusted for:
RM5.769 million in capitalised asset enhancement initiatives.
RM610,000 in deferred lease incentives, reflecting lease straight-lining requirements under Malaysian Financial Reporting Standard (MFRS) 16.
Following these accounting adjustments, the REIT recognised a net fair value increase of RM841,000 for the six months ended June 30, 2026.
Key Takeaways
IGB Commercial REIT's property portfolio increased in value from RM3.247 billion to RM3.253 billion, reflecting the resilience of its prime commercial assets.
The overall RM6 million gross valuation gain was driven by higher values for Centrepoint North, The Gardens North Tower and Southpoint Offices & Retail.
Most of the REIT's office assets maintained stable valuations, indicating continued resilience in Kuala Lumpur's Grade A commercial property market.
After accounting for capital expenditure and lease accounting adjustments, the REIT recorded a net fair value gain of RM841,000.
The REIT reported an unaudited NAV of RM0.9603 per unit, providing investors with an updated measure of underlying asset value.
The valuation reflects the stability of well-located, income-producing office assets in established commercial hubs such as Mid Valley City and central Kuala Lumpur.
The modest valuation uplift demonstrates that high-quality commercial properties continue to preserve value despite a competitive office market, supported by strong locations and established tenant demand.
Yao Mu Realty, based in Kuala Lumpur, Malaysia, specializes in industrial real estate for factories and land, delivering professional and efficient solutions.
Posted by Yao Mu Realty Sdn Bhd on 8 Jul 26
Malaysia