PETALING JAYA: Pavilion Real Estate Investment Trust
(Pavilion-REIT) has received unitholder approval to acquire Banyan Tree Kuala Lumpur (BTKL) and Pavilion Hotel Kuala Lumpur (PHKL) for RM480mil, a move expected to enhance its long-term performance and reinforce its presence in Bukit Bintang.
Pavilion-REIT, in a statement, said the resolutions passed at the unitholders’ meeting will allow MTrustee Bhd, on behalf of the REIT, to proceed with the acquisition of the properties from Lumayan Indah Sdn Bhd and Harmoni Perkasa Sdn Bhd.
