Sunway REIT to acquire land and buildings for RM91.5mil

PETALING JAYA: Sunway Real Estate Investment Trust (SunREIT) has entered into a conditional sale and purchase agreement with Champion Edge Sdn Bhd to acquire a piece of land and buildings in Shah Alam for RM91.5mil in cash.

“The proposed acquisition is in line with the key investment objective of Sunway REIT Management Sdn Bhd or the manager to continuously pursue an acquisition strategy to acquire and invest in properties that are yield-accretive with the potential to contribute to the long-term growth in SunREIT’s distribution per unit (DPU) or net asset value (NAV) per unit,” said the company in its filing with Bursa Malaysia yesterday.