PETALING JAYA: Sentral Real Estate Investment Trust
(Sentral-REIT) is acquiring 38 stratified retail units and 1,432 car park bays as part of the Arcoris Plaza Development from UEM Sunrise Bhd for RM70mil.
In a filing with Bursa Malaysia, Sentral-REIT said the property is strategically located in Mont Kiara, Kuala Lumpur.
“Sentral-REIT will be able to take advantage of greater economies of scale in the Mont Kiara neighbourhood with the purchase of the property.
“This enables the company to leverage its existing resources (property management and leasing team) to manage the operations at the property.”
Sentral-REIT said the prospects of the property are expected to be positive in view of its strategic location, good accessibility and steady income stream.
