KIP Reit To Purchase Mall In Sepang For RM80 Million

KIP REIT is in talks with Cahaya Serijaya Sdn Bhd for the proposed acquisition of KIPMall Kota Warisan in Sepang for a cash purchase consideration of RM80.0 million.

In conjunction with the proposed acquisition, the trustee also proposes to undertake a private placement to raise gross proceeds of approximately RM10.0 million.

The mall sits on a piece of freehold land in the District of Sepang, State of Selangor, measuring 41,048 square metres (approximately 441,837 square feet) on which its basically one and a half-storey retail centre comprising a single
storey commercial centre with a mezzanine floor, a drive-thru fast food restaurant, a refuse chamber and a bin centre with a total gross floor area of 28,015.71 square metres.

KIPMall Kota Warisan is situated along Jalan Warisan Sentral 3, KIP Sentral, Kota Warisan within the commercial development identified as “KIP Sentral @ Sepang”. KIP Sentral @ Sepang comprises KIPMall Kota Warisan, 2 towers of 466 units of serviced residence/SOHO units and 132 units of semi-detached and terraced boutique shoplots.

Kota Warisan is an integrated self-contained township comprising mainly double storey terraced houses, 2 to 4-storey shop offices, double storey detached houses, sing

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