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Monday, April 16, 2012

IGB proposes REIT, comprising The Gardens Mall, Mid Valley

KUALA LUMPUR: IGB Corp Bhd has proposed to set up and list a real estate investment trust (REIT) on the Main Market, comprising of two malls in Kuala Lumpur.

It said on Monday the initial properties would comprise of The Gardens Mall -- which is eight-storey retail mall -- and Mid Valley Megamall, which is a five-storey retail mall with one mezzanine floor.

These properties are currently owned by IGB's subsidiary, KrisAssets Bhd.

“In conjunction with the proposed REIT establishment and listing, IGB has today acquired a newly established subsidiary, IGB REIT Management Sdn Bhd, to act as the proposed management company for IGB REIT,” it said.

By The Star

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