SunREIT buying hypermarkets for RM520mil

TheStar Fri, Mar 17, 2023 12:00am - 1 year View Original


SunREIT said its property value will increase to RM9.69bil upon completion of the proposed acquisition (from RM9.1bil as at Dec 31, 2022) and cement its position as the second-largest listed REIT in Malaysia.

PETALING JAYA: Sunway Real Estate Investment Trust (SunREIT) is acquiring six hypermarkets, five within the Klang Valley and one in Johor, for RM520mil.

In a statement yesterday, SunREIT said the hypermarkets are located in Kinrara, Putra Heights, USJ, Klang, Ulu Kelang and Plentong.

Collectively, the properties will have a total land area and total gross floor area of 56 acres and 2.35 million sq ft, respectively with GCH Retail (M) Sdn Bhd as the lessee.

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