1MK 1 Mont Kiara, Mont Kiara, RM 670,000 Kuala Lumpur
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KUALA LUMPUR: The enbloc sale of 1 Mont'Kiara (1MK) for RM333 million by Aseana Properties Ltd to a real estate fund management company affiliated with Hong Kong's Cheung Kong Group marks the return of foreign institutional interest in Mont'Kiara area properties.
An analyst said this could potentially benefit Sunrise Bhd, the area's largest developer and owner of several investment assets, notably the Publika mall at Solaris Dutamas, that could be monetised. The Publika mall, which will open early next year, has over 335,000 sq ft of net lettable space, some 5,000 car park bays and a district cooling system.
Aseana's sale of 1MK for RM333 million is understood to be for the retail mall with net lettable area of 250,000 sq ft, about 185,000 sq ft of office space and over 1,000 car park bays. The exact breakdown pricing for the different components, however, is not available.
The analyst said the sale was more notable for the fact that it signalled a return of foreign investors to Mont'Kiara after a slew of aborted deals during the recent global financial crisis. (News from The EDGE Financial Daily)
