Landmark REIT lifts Q1 income 5.7% as occupancy strengthens

Portfolio occupancy stood at 87.5% as at 31 March 2026.

Landmark REIT reported net property income of $30.8M for the first quarter (Q1) ended 31 March 2026, up 5.7% from a year earlier, supported by higher occupancy and tenant optimisation across its portfolio.

Portfolio occupancy stood at 87.5% as at 31 March 2026, with nearly 70% of assets recording occupancy above 85%, according to the REIT manager.

The REIT, formerly Lippo Malls Indonesia Retail Trust and rebranded as Landmark REIT in March 2026, attributed the performance to ongoing asset enhancement initiatives and active tenant management.

Gross revenue rose 4.6% year on year (YoY) to $52.2m, whilst rental revenue increased 4.0% to $28.5m.

Aggregate leverage declined to 40.22% following the deployment of rights issue proceeds and repayment of borrowings, including full redemption of $28.94m (USD22.6m) notes in February 2026.

The manager said the rebranding reflects a broader strategy to diversify beyond Indonesia-focused retail malls into a wider real estate portfolio across Indonesia and other Asian markets over time, whilst retaining retail as its core asset class.

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