KUALA LUMPUR: YTL Group is looking at expanding its global and hospitality real estate investment trusts (REIT) as it has reached six to seven per cent in its yield, said Joseph Yeoh, vice-president of YTL Land & Development Bhd and YTL Hotels and Properties.
“For our global and hospitality REIT, we are looking to expand on a case-by-case basis.
“We have reached our six to seven per cent yield,” Yeoh said after the launch of “A Journey Through Time
VIII” (AJTT), here, yesterday.
On speculations of slow growth in property sales after the implementation of the Goods and Services Tax (GST) next April, Yeoh said demand for high-end property would not be affected.
“People are expecting a downtrend in the property sales. However, the appetite for middle to high-end properties is still there,” he added.
This year’s AJTT will be held on November 21-28 and the showcase of luxury watch brands and exquisite jewellery by internationally renowned watch brand, Jaeger-LeCoultre will feature 12 exclusive pieces, each worth RM1.25 million.
The event, now in its eighth edition, previously attracted more than a million visitors with over RM1 billion worth of luxury pieces put on display.
It is part of efforts to establish Malaysia as a luxury shopping destination and boost shopping receipts to 35 per cent by 2020.
Malaysia is expected to record 36 million tourist arrivals and RM168 billion in tourism receipts by 2020.