Sunway REIT completes acquisition of Sunway 163 Mall in Mont’Kiara

• Sunway 163 is presently 99% occupied, with over 100 tenants and brands with a diverse range of retail offerings, catering to a catchment encompassing Mont’ Kiara, Hartamas and Segambut.
• Sunway 163 is anchored by Jaya Grocer alongside lifestyle and entertainment offerings such as health and beauty services, a cinema, an ice-skating rink and more.

KUALA LUMPUR (Oct 11): Sunway REIT Management Sdn Bhd, the manager of Sunway Real Estate Investment Trust, announced on Oct 9  that Sunway REIT has completed the acquisition of 163 Retail Park for a purchase consideration of RM215 million and rebranded the mall as Sunway 163 Mall.

Sunway 163 is located in the heart of Mont’ Kiara with access via major highways such as the Sprint Expressway and Duta-Ulu Kelang Expressway (DUKE).

Sunway 163 is presently 99% occupied, with over 100 tenants and brands with a diverse range of retail offerings, catering to a catchment encompassing Mont’ Kiara, Hartamas and Segambut.

Sunway 163 is anchored by Jaya Grocer alongside lifestyle and entertainment offerings such as health and beauty services, a cinema, an ice-skating rink and more.

Sunway 163 is expected to be yield-accretive to Sunway REIT’s portfolio with an estimated initial net property income yield of 6.5%.

“We are delighted to complete our acquisition of the most prominent retail asset in Mont’ Kiara, which would strengthen our retail portfolio further. Efforts to improve maintenance and traffic circulation at Sunway 163 will commence imminently to elevate the shoppers’ experience, while longer term plans to enhance the asset via tenant mix optimisation and floor space reconfiguration are being formulated to ensure Sunway 163 will become the premier lifestyle destination in North Kuala Lumpur,” said CEO of Sunway REIT Management, Clement Chen.

“The recent MRT3 alignment announcement augurs well for Sunway 163 as the proposed Sri Hartamas station is located within walking distance and would further enhance accessibility to the mall upon completion of the line. Exciting times await Sunway 163 and its shoppers,” he added.

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