Sunway REIT acquires industrial property in Penang for RM66.8mil

KUALA LUMPUR: Sunway Real Estate Investment Trust’s (Sunway REIT) trustee RHB Trustees Bhd has inked a conditional sale and purchase agreement with Best Corridor Venture Sdn Bhd to acquire an industrial property in Prai, Penang for RM66.8 million.

In a statement, Sunway REIT said the property is located on land spanning 4.21 hectares with leasehold tenure expiring on Oct 22, 2052, and to be extended to 60 years after the completion of the proposed acquisition.