Pavilion Real Estate Investment Trust has announced the successful conclusion of the acquisition of Pavilion Bukit Jalil, following the fulfilment of all conditions precedent as set out in the earlier Sale and Purchase Agreement and oversubscription of its first private placement,
“The successful acquisition of Pavilion Bukit Jalil signals a strategic expansion in Pavilion REIT’s portfolio, bringing total assets under management to RM8.3 billion and the start of another new chapter for Pavilion REIT,” stated Dato’ Philip Ho, the Chief Executive Officer of Pavilion REIT Management Sdn Bhd. Dato’ Philip added that Pavilion Bukit Jalil’s robust tenant strategy, combined with its role as the host of numerous local and international events, has successfully driven the mall’s occupancy rate to over 82% in a relatively short span and that this positive momentum is expected to continue.
Pavilion Bukit Jalil will also soon play host to the Japan Expo Malaysia 2023, the biggest all-Japan event from August 18 to 20. The event is expected to draw enthusiasts for all things Japanese and will incorporate a number of zones including music, food, travel, arts, education, health and wellness, anime, and cosplayers.
