Malaysia's first education REIT taking shape

Long-term rates: Paramount says the proposed lease would lock in rental rates over a period of ten years.

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.