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SunREIT to double value of Putra Place.
Byline: Vasantha Ganesan
PETALING JAYA: Sunway Real Estate Investment Trust Bhd (SunREIT) expects to almost double the value of The Putra Place following an asset enhancement.
The Putra Place, to be renamed Sunway Putra Place, was bought via auction by OSK Trustee Bhd for RM513.95 million.
Sunway Reit Management Sdn Bhd's chief executive officer Datuk Jeffrey Ng said the value of the property could be RM1 billion as a result of a capital expenditure of between RM100 million to RM200 million to enhance the property.
"There will be additional retail space. After enhancement, the rental and occupancy rates will be more, in line with the market," Ng …
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