Skrine Advised KIP REIT On RM160 Million Expansion Of AEON Mall Kinta City
Skrine advised KIP REIT on RM160 Million Expansion of AEON Mall Kinta City
The Malaysian law firm Skrine has advised KIP Real Estate Investment Trust (KIP REIT), through its trustee Pacific Trustees Berhad, in entering into an agreement with AEON CO. (M) BHD for the RM160 million expansion of AEON Mall Kinta City in Ipoh, Perak Darul Ridzuan.
The expansion will increase the mall's net lettable area by 30% to approximately 580,000 square feet and is expected to be completed in Q4 2027. AEON will extend its lease by 25 years until 2055, and upon completion, KIP REIT is expected to generate approximately RM12.8 million in annual gross rental income under its lease to AEON.
The Skrine team consisted of Jesy Ooi (Partner), Richard Khoo (Partner), Rachel Chiah (Partner), and Cynthia Lam (Associate).
Skrine is one of Malaysia’s largest and oldest full-service law firms. Founded on May 1, 1963, the firm is headquartered in Kuala Lumpur and is currently led by approximately 48 partners with over 110 lawyers.
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