IGB-REIT to acquire Johor’s largest mall

The purchase would raise IGB-REIT's total investment properties value to more than RM8bil.

PETALING JAYA: IGB Real Estate Investment Trust (REIT) is acquiring Johor’s largest mall for RM2.65bil and this will be funded by a RM1bil debt and the issuance of new IGB-REIT units.

The proposed acquisition of The Mall, Mid Valley Southkey will raise IGB-REIT’s gearing level, albeit manageable, to 26.49% as total borrowings will increase to RM2.24bil.