Beach resort hotel to be sold for RM145mil

KUALA LUMPUR: AmanahRaya Real Estate Investment Trust (AmanahRaya- REIT) has entered into a sale and purchase agreement with Plenitude Bhd’s wholly owned unit Plenitude Gateway Sdn Bhd for the proposed disposal of Holiday Villa Beach Resort and Spa Langkawi for RM145mil.

The proposed sale of the four-star beach resort hotel building with 238 rooms would represent an opportunity to repay existing borrowings and optimise the trust’s gearing level, said AmanahRaya-REIT in a filing with Bursa Malaysia. — Bernama