The Qatar Investment Authority (QIA), through its unit QPBJ Sdn Bhd, purchased a stake in Malaysia’s Pavilion Bukit Jalil mall from listed property developer Malton Bhd.
Under the agreement, QIA will inject fresh capital of RM407 million ($97 million) through subscription of redeemable preference shares in Regal Path Sdn Bhd, which will acquire a 49-percent stake in the mall from Malton for RM1.48 billion ($353 million).
Malton’s wholly owned subsidiary Khuan Choo Realty and Desmond Lim via his private vehicle Jelang Tegas also will invest RM207 million ($49 million) and RM216 million ($51.5 million), respectively.
Pavilion Bukit Jalil mall is currently under development; it is to become one of the country’s largest regional shopping hubs, spanning up five stories with two levels of basement parking. It is part of the 50-acre Bukit Jalil City development.
