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Real estate industry

IGB REIT Proposes Acquisition of Mid Valley Southkey Mall for RM2.65 Billion

Strategic Insights

— 1 min read

The IGB Real Estate Investment Trust (IGB REIT) has announced a proposed acquisition of the Mid Valley Southkey mall in Johor, along with related assets and rights, for a purchase consideration of RM2.65 billion. This move is part of IGB REIT's strategy to expand its portfolio and increase its presence in the Malaysian retail market. The proposed acquisition is conditional on various factors, including the satisfactory completion of due diligence and the approval of Bursa Malaysia. Maybank IB and HLIB, the joint bookrunners, have submitted an application for the listing and quotation of the consideration units on the Main Market of Bursa Securities.

Key Takeaways:

  • The proposed acquisition is valued at RM2.65 billion, making it one of the largest property deals in recent years.
  • The acquisition is conditional on due diligence, regulatory approvals, and other factors.
  • IGB REIT aims to expand its presence in the Malaysian retail market through this acquisition.
  • Maybank IB and HLIB are the joint bookrunners for the proposed acquisition.
  • The proposed acquisition is expected to be listed and quoted on the Main Market of Bursa Securities following approval.
  • The transaction is subject to the satisfactory completion of various conditions.
  • IGB REIT's announcement dated 24 June 2025 provides further details on the proposed acquisition.

Statistics:

  • The proposed acquisition is valued at RM2.65 billion.
  • The acquisition involves the purchase of the Mid Valley Southkey mall and related assets and rights.
  • The transaction is expected to be completed following approval from Bursa Malaysia.
  • The consideration units will be listed and quoted on the Main Market of Bursa Securities following approval.

Sources:

  • IGB REAL ESTATE INVESTMENT TRUST. (2025, June). TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) - RELATED PARTY TRANSACTIONS IGB REAL ESTATE INVESTMENT TRUST ("IGB REIT") PROPOSED ACQUISITION BY MTRUSTEE BERHAD.
  • Maybank IB and HLIB. (2025, July). Application for Listing and Quotation of Consideration Units.

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