The acquisition is expected to be completed by the first quarter of 2024.
“Upon completion of the acquisition, which is expected to be by the first quarter of 2024, it will expand KIP REIT’s portfolio to 11 assets in contrast to the existing seven KIPMalls, located in Bangi, Tampoi, Kota Tinggi, Masai, Senawang and Melaka as well as AEON Mall Kinta City in Ipoh and 3 industrial properties in Pulau Indah, Port Klang,” it said in a statement.
The mall has been installed with 980,000 kilowatt peak solar photovoltaic systems for the generation of electricity which results in carbon emission avoidance of 3,040 tonnes. Based on the certificate of valuation issued by CBRE WTW Valuation & Advisory Sdn Bhd dated May 17, the market value of KIPMall Kota Warisan is RM80mil.
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