TheStar
KUALA LUMPUR: Sunway City Bhd plans to set up the country’s biggest real estate investment trust (REIT) worth RM3bil in the second half of next year.
“We will be evaluating our options next month” on where the REIT should be listed, group financial controller Koong Wai Seng said in a phone interview.
Money raised from the REIT would be used to fund the acquisition of more land, he said.
Sunway City would sell properties including two of its hotels, a shopping mall, a university campus and houses to the REIT. – Bloomberg
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