Hektar Goup has announced the listing of Hektar Real Estate Investment Fund (REIT) on the main board of Bursa Securities tentatively on 4th December 2006. Hektar Group is offering 159 million new reits at a retail price of RM1.05 per unit or indicative institutional price of RM1.11 per unit begining from 15 Nov 2005 to 22 Nov 2006.
Hektar REIT comprises of 2 retail / shopping complexes namely Subang Parade in Klang Valley and Mahkota Parade in Melaka. Both buildings have a total net lettable area of 944,000 square feet valued at RM523 million. The projected distribution yield is 8.00% to 8.80% per annum over the next 3 years. The prospectus of Hektar REIT can be downloaded here .
Izrin &Tan Properties Sdn Bhd (I &T) is the appointed Property Management Company (PMC) of Hektar REIT. Read more on PMC .
For more info on Hektar Reit, click here .