(The edge property, 26/04/2016)
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Wednesday 11 May 2016
Hektar REIT eyeing malls in second-tier cities
Hektar Real Estate Investment Trust (REIT) is identifying potential acquisition targets across the country to widen its portfolio under management. Its portfolio currently comprises shopping malls: Subang Parade in Subang Jaya, Mahkota Parade in Melaka, Wetex Parade in Muar, Johor, Central Square and Landmark Central in Kedah. They had a total net lettable area (NLA) of 1.8 millionsf, with average occupancy rate of 96.6% as at Dec 31, 2015. Currently, the trust manager is keen to purchase a neighbourhood mall in one of the country’s second-tier cities and has allocated RM20 million to raise the overall NLA of Landmark Central in Kulim, Kedah by 20,000sf to 300,000sf.
(The edge property, 26/04/2016)
(The edge property, 26/04/2016)
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