Sunway REIT has announced that it had successfully completed the acquisition of a freehold seven-storey mall known as "163 Retail Park" for a purchase consideration of RM215 million and rebranded the mall as "Sunway 163 Mall"

Sunway 163 is located in the heart of Mont' Kiara, a residential enclave situated 11 kilometres from Kuala Lumpur City Centre, with convenient access via major highways such as the Sprint Expressway and Duta-Ulu Kelang Expressway ("DUKE"). An affluent neighbourhood in Kuala Lumpur, Mont' Kiara is a highly sought-after residential area for expatriates and upper-middle-
class families with top international schools situated within the neighbourhood.

The mall is presently 99% occupied, with over 100 tenants and brands across a diverse range of retail offerings, catering to a captive market catchment encompassing Mont' Kiara, Hartamas and Segambut. Serving the varied needs of the surrounding community, Sunway 163 is anchored by Jaya Grocer, a renowned premium supermarket, and complemented by an extensive selection of food and beverage ("F&B") outlets, alongside lifestyle and entertainment offerings such as health and beauty services, a cinema, an ice-skating rink and more.

The mall is expected to be yield-accretive to Sunway REIT's portfolio with an estimated initial Net Property Income ("NPI") yield of 6.5%.