Pavilion REIT unitholders approve RM2.2bil Bukit Jalil mall acquisition

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Pavilion REIT unitholders approve RM2.2bil Bukit Jalil mall acquisition FMTNews FMTBusiness

The acquisition of the Pavilion Bukit Jalil Mall is expected to raise Pavilion REIT’s portfolio base to RM8.3 billion from RM6 billion.

This involves a RM720 million tranche scheduled to be completed in the second quarter of this year, and a RM550 million tranche to be completed latest by the second quarter of 2025. This remains comfortably under the gearing limit of 50% as permitted under the listed REIT guidelines, which would still allow Pavilion REIT headroom to explore potential acquisitions, the statement said.

 

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