Suntec Real Estate Investment Trust (Suntec Reit) has sold its 30 per cent interest in 9 Penang Road, formerly known as Park Mall, to Haiyi Holdings.

The buyer will pay about S$89.9 million for the 15 million ordinary shares and 678 redeemable preference shares that Suntec Reit held in the joint venture (JV) company, which indirectly owns the property.