Monday, 2 July 2012

Malaysia – After Retail, IGB Plans For Office, Hotel REIT

IGB Corp Bhd (IGB) will list IGB REIT based on two of Malaysia’s most prized mall assets, generating RM 800 million cash for the company.







Two of the most prized mall assets in Malaysia will be opened to investors come September 2012 as IGB REIT gets listed. Formed from Mid Valley Megamall and The Gardens shopping centre – two shopping malls with a combined value of RM 4.6 billion – the REIT will issue 3.4 billion units, which is expected to raise RM 800 million in cash for IGB.
In terms of asset value, IGB REIT will be the largest REIT in Malaysia, leading Pavilion REIT, Sunway REIT and Capitamalls Malaysia Trust (CMMT).

Quote from CommercialAsia.com 29 June 2012
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