Lendlease Global Commercial REIT - Maybank Research 2026-05-19: PLQ Mall Reconfiguration To Drive Next Leg of Growth

• Few financials were disclosed in Lendlease REIT's FY3Q26 business update. Retail rental reversion remained strong at 12.2%, while Milan office rental uplift turned positive at 1.5%. Portfolio occupancy improved, while tenant sales continued to strengthen following the full acquisition of PLQ Mall. Cost of debt trended down q-o-q and gearing was further optimised on a pro-forma basis.

Robust operating metrics

• - Read this at SGinvestors.io -
• - Read this at SGinvestors.io -

• Tenant sales rose 17.6% y-o-y following the consolidation of PLQ Mall and increased 2.5% on a like-for-like basis excluding PLQ Mall, supported by stronger footfall and festive seasonality.

Perps to be refinanced

• Read more at SGinvestors.io.

Above is an excerpt from a report by Maybank Research.
Clients of Maybank Securities may be the first to access the full PDF report @ https://www.maybanktrade.com.sg/.

Previous report by Maybank:
2026-03-15 Lendlease Global Commercial REIT - PLQ Fully Online; Shifting Focus Back To SG.

Price targets by 3 other brokers at Lendlease REIT Target Prices.

Listing of research reports at Lendlease REIT Analyst Reports.

Relevant links:
Lendlease REIT Share Price History,
Lendlease REIT Announcements,
Lendlease REIT Dividend Payout Dates & Corporate Actions,
Lendlease REIT News