CapitaMalls gets offer to purchase Tropicana City Mall, office tower

By THE STAR

KUALA LUMPUR: Tropicana Corporation Bhd is offering for sale its Tropicana City Mall and office tower in Petaling Jaya to CapitaMalls Malaysia REIT Management Sdn Bhd.

CapitaMalls Malaysia REIT Management said on Friday it had received a letter of intent from Tropicana City’s unit Tropicana City Sdn Bhd to look into purchasing the properties.

Tropicana City Mall is a four-storey mall with basements which can accommodate 1,759 cars while Tropicana City office tower is a 12-storey building.

“With the signing of the letter of intent, an exclusive period for the due diligence will be granted to CMMT and upon being satisfied with the results, CMMT shall proceed to enter into negotiations on the terms for the proposed acquisition,” it said.

CapitaMalls Malaysia REIT Management is the manager of CapitaMalls Malaysia Trust.

– Malaysia Real Estate News

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