The Star - 15th October 2025
Urban Collection will lease the 150,000 sq ft hotel for a 15-year term (structured as three consecutive terms), with tenancy commencing on March 29, 2026 and operations expected to begin by May 1, 2026.

The tenancy is structured as a double net lease with a 10% rental escalation upon each renewal term, providing steady income growth for the trust throughout the lease period.

ARREIT reported a 14.7% increase in net rental revenue, reaching RM39.0 million, driven by new tenancies, higher occupancy at Vista Tower, new rental income from Sekolah Tinta, and stable renewals at Selayang Mall. Property expenses rose by 26.45% to RM15.3 million due to maintenance and operational activities. Trust expenses increased to RM6.2 million, mainly from higher Manager's fees and administrative costs. Borrowing costs decreased by 7.0% to RM13.2 million, as lower interest was due to a recent drawdown of RM33.9 million, resulting in no interest charge for the quarter.