Artist impression of the upcoming asset enhancement initiative at KIPMall Tampoi, slated for completion by 1QFY26
KUALA LUMPUR: Unitholders of KIP Real Estate Investment Trust
(REIT) have given the green light at its extraordinary general meeting (EGM) for the RM118mil acquisition of four retail properties in Kuantan and Selangor as well as a RM132mil private placement to fund part of the purchase and subsequent enhancements.
The target properties comprise KIPMall Desa Coalfields, Lotus’s Indera Mahkota, and two commercial buildings within an integrated development in Kuantan, which are projected to contribute a combined revenue of RM11.3mil and net property income of RM8mil in the first full year of operations.
