04 Apr '11, 2pm

Starhill Global Reit to redevelop Malaysia mall: By Jonathan Kwok STARHILL Global Real Estate Invest... #realestate

STARHILL Global Real Estate Investment Trust (Reit) is redeveloping one of its shopping centre properties in Malaysia. The Reit, which owns the Wisma Atria mall in Singapore, will add about 8,100 sq ft of net lettable area to its Starhill Gallery in Kuala Lumpur. The redevelopment is expected to be completed by the second quarter of this year. The rejuvenated Starhill Gallery will have a new facade, according to a statement by YTL Starhill Global, the Reit's manager. It will also offer a better range of luxury merchandise. The redevelopment is expected to cost RM25 million (S$10.4 million) and add about RM1.7 million to net property income each year. It will be financed by working capital and the remaining proceeds of the Reit's rights issue completed in 2009.

Full article: http://www.straitstimes.com/BreakingNews/Money/Story/STIS...

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