KUALA LUMPUR: Malaysia will host the third round of the 2026 World Cup Asian Zone Qualifiers match between Palestine and Jordan at Kuala Lumpur Football Stadium, Cheras on Sept 10.
has entered into a conditional sale and purchase agreement with Tenaga Nusantara Sdn Bhd to acquire Kluang Mall located in Kluang, Johor for RM158mil.
The property is a free-standing four-storey shopping complex with a gross floor area of approximately 808,000 sq. ft. and a net lettable area of about 360,000 sq. ft. It has approximately 920 car park bays. According to Sunway REIT, the property is expected to generate an indicative net property income yield of approximately 6.8% based on the purchase consideration, in comparison to Sunway REIT’s portfolio NPI yield of 5.7% for the financial year ended Dec 31, 2023.
“We are pleased to be adding another asset to our growing portfolio and expanding our geographical footprint to central Johor. Kluang Mall has recorded strong and stable occupancy over the past years, supported by healthy growth in footfalls and a well-established presence in the area,” Sunway REIT Management Sdn Bhd chief executive officer Clement Chan said.
Property Sunway REIT Kluang Mall Johor Clement Chen
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