Sunway REIT acquires academic properties for USD131 million


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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