Pavilion REIT has unveiled plans to acquire two landmark hospitality assets, the Banyan Tree Kuala Lumpur (BTKL) and Pavilion Hotel Kuala Lumpur (PHKL), in a deal valued at MYR480 million.
These acquisitions mark a significant expansion of Pavilion REIT’s portfolio into the high-growth hospitality sector.
MTrustee Berhad, acting on behalf of Pavilion REIT, entered into conditional agreements with Lumayan Indah Sdn Bhd and Harmoni Perkasa Sdn Bhd for the purchase of BTKL and PHKL at MYR140 million and MYR340 million, respectively.
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