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Malaysia's first education REIT taking shape


The sale-lease marks the start of the first education REIT in the country. Paramount said the disposal was in line with plans to pursue an asset light strategy.

The sale-lease marks the start of the first education REIT in the country. Paramount said the disposal was in line with plans to pursue an asset light strategy.

PETALING JAYA: Paramount Corp Bhd is proposing to dispose of the company’s private and international schools, Sekolah Sri KDU and Sri KDU International School, to unlisted Alpha Real Investment Trust (REIT) for RM165mil.

Paramount said in a stock exchange filing that the company had entered into a master agreement and triple net lease with Alpha REIT to dispose of the properties in Pekan Baru, Sungai Buloh in Selangor.

Paramount , Alpha , leaseback

   

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