KUALA LUMPUR: KIP Real Estate Investment Trust
(REIT) has completed the RM320mil acquisition of D'Pulze Shopping Centre in Cyberjaya.
According to KIP REIT, this latest acquisition, completed ahead of schedule, will further boost the group’s bottomline.
D’Pulze Shopping Centre generated a net property income (NPI) of RM22.8mil in its previous financial year, with a yield of 7.1%.
KIP REIT recorded a total NPI of RM77.8mil in its financial year ended June 30, 2024.
D'Pulze Shopping Centre, a fully occupied seven-storey retail asset located in Cyberjaya, Selangor, has a lettable area of 311,499 sq ft.
This will boost the group’s total net lettable area by about 15% to over 2.4 million sq ft.
"With its prime location in Cyberjaya and a robust tenancy profile, this asset is poised to contribute significantly to our income generation and further support our commitment to deliver consistent returns to our unitholders.
"As our 13th property, D’Pulze strengthens our presence in high-potential urban hubs, reinforcing our strategic focus on sustainable and long-term growth,” said CEO Valerie Ong Pui Shan in a statement.
She added that the group is moving closer to its target of RM2bil in total assets under management.
