Among facilities that will be acquired by Sunway REIT at Jalan Universiti. (Photo: Sunway)

Malaysia-listed Sunway REIT has entered into a conditional sale and purchase agreement to acquire land, and properties from a subsidiary of its sponsor for MYR550 million (USD131 million).

This agreement entails the acquisition of three parcels of leasehold land at Jalan Universiti, Bandar Sunway, Selangor, and properties that are situated on these lots.

The properties comprise of three academic blocks, four walk-up hostel apartments, and ancillary sports facilities including a football field, a basketball court, a netball court, and a tennis court.

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By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.