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NewsSunway REIT invests nearly RM1b in Sunway Putra Place
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Sunway REIT invests nearly RM1b in Sunway Putra Place
by Cals Fri 14 Feb 2014, 17:21
Published: Friday February 14, 2014 MYT 3:07:00 PM
Updated: Friday February 14, 2014 MYT 4:19:26 PM
Sunway REIT invests nearly RM1b in Sunway Putra Place
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KUALA LUMPUR: Sunway REIT Management Sdn Bhd, which bought the Sunway Putra Place property in Kuala Lumpur during a public auction in 2011 for RM522mil, plans to inject RM460mil to enhance the assets.
Unveiling the accelerated refurbishment plan for the property - which includes a retail mall, hotel and office tower - on Friday, it said the move was to reap the full synergies and compatibility of the three-in-one mixed use asset upon its expected completion in the first half of 2015.
The refurbishment of Sunway Putra Place involves enhancing the architecture, comprehensive space reconfiguration and improving the infrastructure. This would create additional net lettable are of about 15% to 580,000 sq ft for Sunway Putra Mall.
Sunway Putra Hotel's refurbishment would involve modernising the lobby, ballroom, function and meeting rooms, restaurants and upgrading rooms and suites.
As for the Sunway Putra Tower, the common areas would be enhanced and this would involve improved facilities and security.
Sunway REIT Management Sdn Bhd CEO Datuk Jeffrey Ng described Sunway Putra Place as an "undiscovered gem for use to exhibit in turning around an underperforming and depressed asset".
Updated: Friday February 14, 2014 MYT 4:19:26 PM
Sunway REIT invests nearly RM1b in Sunway Putra Place
[You must be registered and logged in to see this image.]
KUALA LUMPUR: Sunway REIT Management Sdn Bhd, which bought the Sunway Putra Place property in Kuala Lumpur during a public auction in 2011 for RM522mil, plans to inject RM460mil to enhance the assets.
Unveiling the accelerated refurbishment plan for the property - which includes a retail mall, hotel and office tower - on Friday, it said the move was to reap the full synergies and compatibility of the three-in-one mixed use asset upon its expected completion in the first half of 2015.
The refurbishment of Sunway Putra Place involves enhancing the architecture, comprehensive space reconfiguration and improving the infrastructure. This would create additional net lettable are of about 15% to 580,000 sq ft for Sunway Putra Mall.
Sunway Putra Hotel's refurbishment would involve modernising the lobby, ballroom, function and meeting rooms, restaurants and upgrading rooms and suites.
As for the Sunway Putra Tower, the common areas would be enhanced and this would involve improved facilities and security.
Sunway REIT Management Sdn Bhd CEO Datuk Jeffrey Ng described Sunway Putra Place as an "undiscovered gem for use to exhibit in turning around an underperforming and depressed asset".
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» Putra Place sale ruled legal
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