KUALA LUMPUR: KIP Real Estate Investment Trust
(KIP-REIT) has completed its latest acquisition of a prime retail property in Gerik, Perak as part of its effort to cast a wider footprint across Malaysia.
Calling the latest addition “strategic”, the group reported that the transaction will inflate its portfolio to 12 assets, including seven KIPMalls across Malaysia, AEON Mall Kinta City in Perak, and key industrial properties in Pulau Indah, Klang.
In a statement yesterday, it said: “This newly acquired asset which comprises a single-storey hypermarket, basement carpark and office space, spans 4,663 sq m with a total net lettable area of 60,895 sq ft.”
KIP-REIT said that the acquisition enhances its capacity to generate long-term returns and deliver stable, high-yield income for unitholders.
