REIT to buy Sunway Clio Property

Sunway Real Estate Investment Trust (Sunway REIT) is acquiring Sunway Clio Property for RM340 million. Sunway REIT Management, the manager of the REIT, said RHB Trustees Bhd had entered into a conditional sale and purchase agreement with Sunway Forum Hotel, a wholly-owned subsidiary of Sunway Bhd for the acquisition. Sunway Clio consists of a 19-storey fourstar rated hotel with 401 hotel rooms known as Sunway Clio Hotel, a three-storey retail space with net lettable area of 88,384 sq ft and a car park with 732 bays.