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Al-Salam REIT buys Mydin hypermarket in Terengganu


One of Mydin hypermarkets in Terengganu.

One of Mydin hypermarkets in Terengganu.

KUALA LUMPUR: Al-Salam Real Estate Investment Trust (REIT) is buying a Mydin double-storey hypermarket in Gong Badak, Kuala Terengganu, for RM155mil in cash.

Johor Corp’s unit Damansara REIT Managers Sdn Bhd, which manages the Islamic REIT, told Bursa Malaysia that AmanahRaya Trustees Bhd, acting on behalf of Al-Salam REIT, had on Monday inked a conditional agreement with Mydin Wholesale Cash and Carry Sdn Bhd to acquire Mydin Hypermarket Gong Badak.

   

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