AMFIRST REAL ESTATE INVESTMENT TRUST

What AMFIRST REAL ESTATE INVESTMENT TRUST does

AmFIRST Real Estate Investment Trust is a Malaysian real estate investment trust constituted under Malaysian law and listed on the Main Market of Bursa Malaysia (Stock Code: 5120, Stock Name: AMFIRST). It is externally managed by AmREIT Managers Sdn Bhd (Registration No. 200601011214 (730964-X)), a wholly-owned subsidiary of AmBank Group, with AmBank (M) Berhad itself acting as the largest unitholder at 26.73%. The trust's stated purpose is to acquire, hold and manage income-producing commercial real estate in Malaysia.

The trust's portfolio comprises eight commercial properties totalling roughly 2.3 million square feet of net lettable area: six office buildings (Bangunan AmBank Group, Menara AmBank, Wisma AmFIRST, Prima 9, Prima 10 and Jaya 99), one mixed-use asset combining retail, office and hotel components (The Summit Subang USJ, with the hotel under operational management by Mana Mana Holdings, an Exsim Group unit, from 2025), and one retail mall (Mydin Hypermall Bukit Mertajam, fully leased to Mydin Mohamed Holdings Berhad). Portfolio occupancy ranges from approximately 77% (Prima 9) to 100% (Mydin Hypermall), with multiple long-dated 99-year leasehold interests extending to 2094 and 2109.

Revenue is generated predominantly through rental income from office, retail and hotel tenants, distributed and reported on a regulatory REIT framework. FY2025 financials show revenue of RM 104.8 million, net property income of RM 61.0 million, realised net income of RM 16.4 million and NAV per unit of RM 1.2. Go-to-market activity is split between an investor-relations channel (Bursa announcements, IR website at ir2.chartnexus.com/amfirstreit, email alerts) for unitholders and leasing-side activity (handled via internal Head of Marketing & Leasing together with property managers Knight Frank and Savills) for tenant origination and retention. The unit price traded at RM 0.340 on 28 July 2026, with the top 30 unitholders collectively owning 50.33% of total units.

Name

AMFIRST REAL ESTATE INVESTMENT TRUST

Legal name

AmFIRST Real Estate Investment Trust

Website

https://amfirstreit.com.my

Company type

Public

Founded year

2006

Operating status

Operating

Headcount range

11–50 employees

Short description

AmFIRST Real Estate Investment Trust is a Malaysian REIT (Bursa: 5120) managed by AmREIT Managers Sdn Bhd (AmBank Group), owning eight income-producing commercial properties—offices, a mixed-use asset and a retail mall—across Kuala Lumpur, Selangor, Penang, Melaka and Cyberjaya for institutional and retail unitholders.

Ownership category

akta.pro rank

Product category

Commercial Real Estate Investment Trust

NAICS

Funds, Trusts, and Other Financial Vehicles (525)

SIC

Real Estate Investment Trusts (6798)

akta.pro primary industry

REITs & Listed Real Estate Securities (FSAAAKAD)

Keywords

• Commercial real estate
• Real estate investment trust
• Property asset management
• Office building leasing
• Retail mall operations

Headquarters

HQ city

Petaling Jaya

HQ country

Malaysia

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Others, Marketing or Sales

Revenue model

1. Rental Income from Properties: Primary revenue is generated from rental income collected from tenants across office, retail, and hotel segments. The trust holds 8 properties in Malaysia including office buildings, retail malls, and a hotel.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

AmFIRST REIT owns and leases a portfolio of eight income-producing commercial properties in Malaysia — six office buildings, one mixed-use retail/office/hotel complex, and one retail hypermarket — generating rental and hospitality income that is distributed to public unitholders. The trust is managed by AmREIT Managers Sdn Bhd, which provides asset management, leasing strategy, financial reporting, and investor relations for unitholders trading on Bursa Malaysia.

Product overview

AmFIRST REIT is a Real Estate Investment Trust operating as a single, unified portfolio of eight commercial properties across Malaysia. The REIT holds six office buildings (Bangunan AmBank Group, Menara AmBank, Wisma AmFIRST, Prima 9, Prima 10, Jaya 99), one mixed-use property combining retail, office and hotel (The Summit Subang USJ), and one retail mall (Mydin Hypermall Bukit Mertajam). The portfolio is managed by AmREIT Managers Sdn Bhd, with Knight Frank and Savills serving as property managers. FY2025 financials show revenue of RM104.8 million, net property income of RM61.0 million, realised net income of RM16.4 million, and NAV per unit of RM1.2.

Differentiator

Problem solved

Functional benefit

Products and services

• Bangunan AmBank Group A 39-year-old office building located in the Kuala Lumpur Golden Triangle, with 360,166 square feet of net lettable area, 93.4% occupancy rate and a latest revaluation of RM268.9 million. Leased to corporate tenants including AmBank Group, Shook Lin & Bok and Syed Alwi, Ng & Co.
• Menara AmBank A 46-storey prominent office building along Jalan Yap Kwan Seng in the Kuala Lumpur Golden Triangle, located 0.05km from KLCC, with 453,962 square feet of net lettable area and 79.1% occupancy. Tenants include Summer Healthcare Group Sdn Bhd and IWG HQ Co-working Centre.
• Wisma AmFIRST Office building in SS7 Kelana Jaya, Petaling Jaya, with 291,265 square feet of net lettable area, 92.4% occupancy rate and latest revaluation of RM122.2 million, held under a 99-year leasehold interest expiring February 2094. Anchor tenant is AmBank (M) Berhad.
• The Summit Subang USJ A mixed-use property in UEP Subang Jaya comprising retail (578,056 sf), office (135,865 sf) and hotel (286,600 sf) components, with a total net lettable area of 1,000,521 square feet and 1,952 car park bays. The hotel component is being rebranded and operated by Mana Mana Holdings (an Exsim unit) per an August 2025 announcement.
• Prima 9 Office building in Cyberjaya's Multimedia Super Corridor, with 111,150 square feet of net lettable area, 77.1% occupancy rate and a latest revaluation of RM75.3 million. Tenants include Medical Device Authority Ministry of Health Malaysia and AirAsia Berhad.
• Prima 10 Office building in Cyberjaya's Multimedia Super Corridor, with 100,272 square feet of net lettable area, 92.1% occupancy rate and a latest revaluation of RM62.0 million. Tenant includes NexG Berhad.
• Jaya 99 Office building along Jalan Tun Sri Lanang in Melaka, with 212,067 square feet of net lettable area, 89.1% occupancy rate, and a 99-year leasehold interest expiring October 2109. Tenants include Prudential Assurance Malaysia Berhad and AIA Berhad.
• Mydin Hypermall Bukit Mertajam Retail mall in Bukit Mertajam, Penang, with 536,507 square feet of net lettable area, 100% occupancy (single-tenant fully leased to Mydin Mohamed Holdings Berhad) and a latest revaluation of RM283.0 million.
• AmFIRST REIT Unitholder Investment (Bursa Malaysia-listed REIT units) Tradable REIT units on the Main Market of Bursa Malaysia (Stock Code 5120), providing public unitholders with regular income distributions, NAV exposure to eight Malaysian commercial properties, and professional asset management by AmREIT Managers Sdn Bhd. Unit price RM0.340 as at 28 July 2026, with top 30 unitholders holding 50.33% of total unitholdings as at 31 March 2026.

Named customers11 records

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Seven partnerships are on record, tiered core.

• Maybank Trustees BerhadcoreOthersServes as the Trustee for AmFIRST REIT, holding the assets of the trust on behalf of unitholders and ensuring compliance with the trust deed and regulatory requirements.
• Knight Frank Property Management Sdn BhdcoreImplementation/ SI/ Consulting PartnerOne of two property managers overseeing property management activities for AmFIRST REIT's portfolio.
• Savills (KL) Sdn BhdcoreImplementation/ SI/ Consulting PartnerOne of two property managers providing property management services for the REIT's properties.
• Ernst & Young PLTcoreOthersServes as the external auditor for AmFIRST REIT, providing independent audit services.
• PricewaterhouseCoopers Taxation Services Sdn BhdcoreOthersProvides tax advisory services to AmFIRST REIT.
• Boardroom Share Registrars Sdn BhdcoreOthersProvides share registration and unit registrar services for AmFIRST REIT.
• Boardroom Corporate Services Sdn BhdcoreOthersProvides company secretarial services to AmREIT Managers Sdn Bhd.

Scale indicators6 records

Recent moves4 records

Expansion highlights3 records

Direct peers

• IGB REIT: Malaysian REIT primarily holding Mid Valley Megamall and The Gardens Mall. Comparable as a Malaysian commercial REIT with office-adjacent retail exposure and a similar Bursa-listed investor base.
• Sunway REIT: Diversified Malaysian REIT with office, retail, hotel and healthcare assets. Comparable to AmFIRST's diversified eight-asset portfolio spanning office, retail and hospitality across Malaysia.
• YTL REIT: Malaysian hospitality and commercial REIT with hotels and office buildings. Comparable to AmFIRST's hotel exposure at The Summit Subang USJ and similar diversified commercial asset mix.
• Hektar REIT: Malaysian retail-centric REIT with suburban malls. Comparable as a Bursa-listed Malaysian REIT in the small-cap segment with similar institutional-unitholder dynamics and discount-to-NAV profile.
• KLCC Stapled Group: Largest Malaysian REIT stapled group focused on prime KLCC office towers and Suria KLCC retail mall. Directly comparable as a Malaysian office-and-retail REIT with similar tenant profile (banks, insurers, premium retailers) and prime KL Golden Triangle exposure.
• Al-Salam REIT: Shariah-compliant Malaysian REIT with office and retail assets. Comparable as a smaller Malaysian commercial REIT with similar Bursa Malaysia listing and institutional sponsorship structure.
• CapitaLand Malaysia Trust: Malaysian REIT sponsored by CapitaLand with office and retail assets in KL and Penang. Comparable as a Bursa-listed diversified commercial REIT operating in similar Malaysian submarkets.
• Pavilion REIT: Malaysian REIT anchored by Pavilion Kuala Lumpur mall and corporate office tower. Comparable as a KL-focused commercial REIT with similar premium retail and Grade A office exposure.

Regional players

• Starhill Global REIT: Singapore-listed REIT with retail and office assets primarily in Malaysia and Singapore. Comparable as a regional REIT with Malaysian commercial real estate exposure serving similar institutional investors.

Broad incumbents

• Mapletree Pan Asia Commercial Trust: Large Singapore-listed REIT with diversified pan-Asian office and retail assets. Comparable as a regional incumbent with overlapping office/retail exposure and a broader portfolio scale benchmark for Asian commercial REITs.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/amfirst-real-estate-investment-trust

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about AMFIRST REAL ESTATE INVESTMENT TRUST