KUALA LUMPUR, Sunway Real Estate Investment Trust (Sunway REIT), through its manager Sunway REIT Management Sdn Bhd, has completed the acquisition of AEON Mall Seri Manjung in Perak.
Sunway REIT Management Sdn Bhd said Sunway Real Estate Investment Trust (Sunway REIT) has completed the acquisition of Sunway Seri Manjung Mall, formerly known as AEON Mall Seri Manjung.
In a statement today, Sunway REIT said the newly acquired asset is a two-storey retail complex situated on 12.24 hectares (30.25 acres) of prime freehold commercial land, featuring ample parking facilities.
The mall is fully tenanted by AEON Co (M) Bhd under a long-term lease agreement, which offers income certainty with 12 years remaining until December 2037.
Sunway REIT said the property is expected to be yield-accretive, providing an initial net property income (NPI) yield of 6.5%, with an average yield of 7% projected over the remaining lease term.
Ng Bee Lien, Sunway REIT’s acting chief executive officer and chief financial officer, said the acquisition is part of the trust’s ongoing strategy to strengthen its portfolio with high-quality, income-generating assets.
“AEON Mall Seri Manjung offers immediate earnings contribution through a stable, long-term lease with a leading retail operator and enhances the resilience of our earnings with an attractive yield profile,” she said.
Ng added that the acquisition reinforces Sunway REIT’s position as one of the country’s leading real estate investment trusts and reflects its proactive approach to securing assets with strong fundamentals and long-term income visibility.
“We remain committed to identifying similar opportunities that enhance our portfolio quality and support our long-term growth strategy,” she said.
