Wednesday, December 7, 2011

Pavilion REIT active, up on debut

KUALA LUMPUR (Dec 7): Pavilion Real Estate Investment Trust, which made its debut on the Main Market of Bursa Malaysia on Wednesday, was the most active in early trade.

At 9.25am, Pavilion REIT was up 10 sen to RM1 with 70.1 million units done.

Pavilion REIT's most valuable asset is Pavilion KL Mall (with 1.3 million sq ft of net lettable area (NLA)), which is valued at RM3.4 billion.

The REIT also manages Pavilion Tower ' a 20-storey office tower with 167,400 sq ft of NLA valued at RM128.0 million.

Pavilion KL Mall has a diversified tenant base, ranging from supermarkets/department stores (Parkson, Mercato) to high-end fashion outlets (Prada, Gucci, Michael Kors) only available in 1-2 malls in Malaysia.

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