PETALING JAYA: UOA Real Estate Investment Trust (UOA REIT) saw its net profit rise 76.8% to RM16.21mil for the third quarter ended Sept 30, 2021 (Q3’21), from RM9.17mil in Q3’20, in tandem with higher revenue

       During the quarter in review, UOA REIT’s revenue grew 62.1% to RM30.04mil from RM18.53mil in Q3’20.

       In its filing with Bursa Malaysia, UOA REIT said against the corresponding quarter last year, its gross rental has increased by 62.2%, whereas total expenditure increased by 62.8%.

       “The increase in gross rental and total expenditure was mainly due to the acquisition of UOA Corporate Tower at the end of 2020,” it said.

       UOA REIT said the market remains uncertain despite the reopening of the economy.

       Nevertheless, it would continue its effort to maximise yield for unitholders by actively managing the properties in the portfolio and prudently manage the capital.

       “The manager will continue to source for opportunities to further acquire real estate that meets the objective of the UOA REIT,” it said.