Putra Mall to re-open by mid-2015
http://www.thesundaily.my/news/889255
Posted on 25 November 2013 - 02:39pm
Last updated on 25 November 2013 - 02:48pm
sunbiz@thesundaily.com
PETALING JAYA (Nov 25, 2013): Putra Mall in Kuala Lumpur, which forms part of Sunway Putra Place that includes the Legend Hotel and an office tower, is targeted to complete in early 2015 and to re-open by the middle of the same year, said Sunway Real Estate Investment Trust (REIT).
In a note to clients today, HLIB Research said there will be no changes to Putra Mall's positioning as a mid-upper end lifestyle mall. Due to its integrated nature, Sunway Putra Place is envisioned to capture family, office and tourist markets in a synergistic fashion.
"Sunway REIT is guiding for fashion outlets to account for 40% of tenants, while food and beverage will be 20%. The balance 40% will be spread across various trades such as information technology, fitness and entertainment outlets," it said following an analyst briefing by Sunway REIT.
"Previously, Sunway REIT intended to carry out the refurbishment of the mall, hotel and office in stages, but will now refurbish all three concurrently. This will allow Sunway Putra Place to be marketed to tenants as a holistic and rebranded package deal," added HLIB Research.
In March 2011, Putra Place was bought by Sunway REIT for RM513.94 million in a public auction, some three years after the property was first put up for auction. The property, which has been renamed Sunway Putra Place, is currently going through a refurbishment.
Sunway REIT is spending RM459 million on refurbishment costs, of which RM307 million is for Putra Mall, RM123 million for Putra Hotel and RM29 million for Putra Tower.
Upon completion, Sunway REIT is expecting Sunway Putra Place to generate between RM70 million and RM80 million in stable net property income, translating to a return on investment in the 7.5-8.5% range, said analysts.
"Sunway REIT is guiding for post refurbishment net property income of RM70-80 million, in line with our RM72 million estimate. Average rental for the mall is expected to increase from RM4-4.50 per sq ft to RM6-7 per sq ft, the office rental from RM2.40 per sq ft to RM3 per sq ft, and hotel room rates rising from RM190 per day to RM350-RM370 per day," said HLIB Research, which has a "hold" rating on Sunway REIT with a RM1.26 target price.
HwangDBS Vickers Research Sdn Bhd said occupancy will not be an issue for Putra Mall as prospective tenants would be those currently within Sunway REIT's existing portfolio.
"We understand the REIT may not acquire another asset this year, but potential retail and hospitality plays in the market may drum up interest," it added, maintaining a "buy" call on Sunway REIT with a RM1.60 target price.
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相信未来一年，还有机会逢低加码股价少于RM1.30的Sunreit。
当看到Sunreit跌破RM1.30， 歪歪又开始算算手上的闲钱，看看有多少可以用来作为加码Sunreit的子弹。
为的就是提高2014年passive income.
距离2013年结束，剩下一个月又几天，今年能为2014年付出多少的努力，就尽量去做。
也许你也有兴趣阅读以下文章；
http://www.thesundaily.my/news/889255
Posted on 25 November 2013 - 02:39pm
Last updated on 25 November 2013 - 02:48pm
sunbiz@thesundaily.com
PETALING JAYA (Nov 25, 2013): Putra Mall in Kuala Lumpur, which forms part of Sunway Putra Place that includes the Legend Hotel and an office tower, is targeted to complete in early 2015 and to re-open by the middle of the same year, said Sunway Real Estate Investment Trust (REIT).
In a note to clients today, HLIB Research said there will be no changes to Putra Mall's positioning as a mid-upper end lifestyle mall. Due to its integrated nature, Sunway Putra Place is envisioned to capture family, office and tourist markets in a synergistic fashion.
"Sunway REIT is guiding for fashion outlets to account for 40% of tenants, while food and beverage will be 20%. The balance 40% will be spread across various trades such as information technology, fitness and entertainment outlets," it said following an analyst briefing by Sunway REIT.
"Previously, Sunway REIT intended to carry out the refurbishment of the mall, hotel and office in stages, but will now refurbish all three concurrently. This will allow Sunway Putra Place to be marketed to tenants as a holistic and rebranded package deal," added HLIB Research.
In March 2011, Putra Place was bought by Sunway REIT for RM513.94 million in a public auction, some three years after the property was first put up for auction. The property, which has been renamed Sunway Putra Place, is currently going through a refurbishment.
Sunway REIT is spending RM459 million on refurbishment costs, of which RM307 million is for Putra Mall, RM123 million for Putra Hotel and RM29 million for Putra Tower.
Upon completion, Sunway REIT is expecting Sunway Putra Place to generate between RM70 million and RM80 million in stable net property income, translating to a return on investment in the 7.5-8.5% range, said analysts.
"Sunway REIT is guiding for post refurbishment net property income of RM70-80 million, in line with our RM72 million estimate. Average rental for the mall is expected to increase from RM4-4.50 per sq ft to RM6-7 per sq ft, the office rental from RM2.40 per sq ft to RM3 per sq ft, and hotel room rates rising from RM190 per day to RM350-RM370 per day," said HLIB Research, which has a "hold" rating on Sunway REIT with a RM1.26 target price.
HwangDBS Vickers Research Sdn Bhd said occupancy will not be an issue for Putra Mall as prospective tenants would be those currently within Sunway REIT's existing portfolio.
"We understand the REIT may not acquire another asset this year, but potential retail and hospitality plays in the market may drum up interest," it added, maintaining a "buy" call on Sunway REIT with a RM1.60 target price.
------------
相信未来一年，还有机会逢低加码股价少于RM1.30的Sunreit。
当看到Sunreit跌破RM1.30， 歪歪又开始算算手上的闲钱，看看有多少可以用来作为加码Sunreit的子弹。
为的就是提高2014年passive income.
距离2013年结束，剩下一个月又几天，今年能为2014年付出多少的努力，就尽量去做。
也许你也有兴趣阅读以下文章；
时间过得真快转眼又要到2014了。加油！
回复删除谢谢：）
删除近来yy很努力地为sunway和sunreit奔波，希望两间公司都能为你带来不错的回酬，水星吃饭吃粥还是吃包就靠你了 :p
回复删除从我开始学买股票，就有陆续跟进Sunway。这些年的领悟，如果从一开始就积股买Suncity, 我会走快很多。
删除所以，现在机会摆在我面前，就不想再错过：）
Sunway的管理层不错的，而且会照顾股东。
你的财富已经够你天天吃芙蓉烧螃蟹，何必还要吃粥吃饭？：）
想当初我也看好suncity，无奈子弹不足XD
删除第一天，你的子弹多得是，随便动动，就会压扁人，哪里会子弹不足：）
删除我的子弹全部用完了，现在的子弹是借的 :P
删除天天吃燒包和螃蟹不健康啊！不及天天吃粥來得好 :)
删除水星应该是天天nestcafe + hup seng饼干
删除第一天，
删除1800的市借钱买股，危机很高。。。。
是milo+hupseng餅乾吧？
删除不清楚，要问水星本人了，我看他现在抱着饼干桶都会笑着入睡。：P
删除此评论已被作者删除。
回复删除YY每次找子弹的速度通常都很快...几天后很快就可以加码了.哈哈.
回复删除我的收入不是月发薪的。
删除如果不拿去买股，我就会觉得自己很有钱，会拿去花掉。。。
如果明年加息，那REIT 相比之下INCOME DISTRIBUTION 就可能不再那么吸引。
回复删除如果2015年，sunway puta mall从新开张后；
删除如果the pinnacle在2014年成功招到租户；
如果brt 顺利在2015年完成；
那么，2015年就应该买不多现在价格的Sunreit了：）