KUALA LUMPUR: Aqar Australia Pty Ltd, a wholly-owned subsidiary of Al-`Aqar Healthcare REIT (Al-‘Aqar) has entered into a land sale contract (LSC) with Principal Healthcare Finance Pty Ltd to dispose of lands and buildings of Jeta Gardens Aged Care Facility in Australia for approximately RM74.9 million.
In a filing with Bursa Malaysia today, Al-`Aqar said the proceeds will be utilised for apportionment to Jade Aged Care Facility, buildings owned by Jeta Gardens, capital recycling and redemption of Al-`Aqar’s financing facilities as well as expenses related to the proposed disposal.
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