CapitaMalls Asia Ltd is required to buy the Gurney Plaza extension block and certain car park bays, along Gurney Drive on Penang Island, for RM215 million from Gurney Plaza Sdn Bhd.
CapitaMalls Malaysia REIT Management Sdn. Bhd. said on Monday, July 5 that Gurney Plaza Sdn Bhd had exercised the put option to require CapitaRetail Gurney Sdn Bhd, a unit of CapitaMalls, to buy and complete the nine-storey extension block.
The acquisition of the extension block must be completed by April 15, 2011.
Written by Joseph Chin
The Edge Malaysia
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