KIP REIT to acquire DPulze Shopping Centre in Cyberjaya for RM320m

KIP REIT’s retail property portfolio consists of eight community-centric malls, including KIPMall Bangi. – KIP REIT picKIP Real Estate Investment Trust has entered into a conditional sale and purchase agreement with DPulze Ventures Sdn Bhd for the proposed acquisition of DPulze Shopping Centre in Cyberjaya for RM320 million cash.

KIP REIT said in a filing with Bursa Malaysia yesterday that it is buying the property with a RM1 million discount as the property has been valued at RM321 million. “The actual issue price for the placement units will be determined later and may be higher or lower than the illustrative issue price of 81.5 sen per unit,“ it added.

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