Thursday, 3 August 2017

(NST) Sunway REIT acquires Sunway Clio Property for RM340mln

KUALA LUMPUR: Sunway Real Estate Investment Trust (Sunway REIT) is acquiring mixed-use Sunway Clio Property for RM340 million.

Sunway REIT Management, the manager of the REIT, said RHB Trustees Bhd has entered into a conditional sale and purchase agreement with Sunway Forum Hotel, a wholly-owned subsidiary of Sunway Bhd for the proposed acquisition.

Sunway Clio consists of a 19-storey 4-star rated hotel comprising 401 hotel rooms known as Sunway Clio Hotel, a 3-storey retail space with net lettable area of 88,384 sq ft and a multi-storey car park with 732 bays.

The property is strategically located at Sunway City fronting the New Pantai Expressway and within the sprawling 800 acres of Malaysia’s first fully integrated green township certified by the Green Building Index.

Sunway Clio Property is connected to Sunway Pyramid Mall through a pedestrian sky bridge and underground car park.

Sunway City is located approximately 20 minutes from the Kuala Lumpur city centre and well connected to the cities of Shah Alam, Petaling Jaya and Klang via an extensive network of road and espressways such as the Federal Highway, the Shah Alam Expressway, the New Klang Valley Expressway, the North-South Expressway Central Link and the Damansara-Puchong Expressway.