, has completed the acquisition of a freehold seven-storey mall known as “163 Retail Park” for a purchase consideration of RM215mil, rebranded it as “Sunway 163 Mall.”
Sunway 163 is expected to be yield-accretive to Sunway REIT’s portfolio with an estimated initial net property income yield of 6.5%. Sunway REIT Management Sdn Bhd Chief Executive Officer Clement Chan stated that the company is delighted to have completed the acquisition of the most prominent retail asset in Mont’ Kiara, which will further strengthen its retail portfolio.
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