Amanahraya REIT Is Selling Langkawi Hotel for RM145 Million

News about AmanahRaya-Kenedix REIT

Amanahraya REIT is announcing the sale of Holiday Villa Langkawi, a beach resort, for RM145 Million:

The proposed sale of the four-star beach resort hotel building with 238 rooms would represent an opportunity to dispose of the property to repay existing borrowings and optimise the trust’s gearing level, said AmanahRaya REIT in a filing with Bursa Malaysia today.

AmanahRaya-Kenedix REIT
Price0.405 MYR
NAV1.277 MYR
Yield (4 quarters)6.40%
Gearing45.1%