KUALA LUMPUR: Aqar Australia Pty Ltd, a wholly-owned subsidiary of Al-’Aqar Healthcare REIT, has entered into a land sale contract with Principal Healthcare Finance Pty Ltd to dispose of land and buildings of Jeta Gardens Aged Care Facility in Australia for RM74.9mil.
In a filing with Bursa Malaysia, Al-’Aqar said the proceeds will be utilised for apportionment to Jade Aged Care Facility, buildings owned by Jeta Gardens, capital recycling and redemption of Al-’Aqar’s financing facilities as well as expenses related to the proposed disposal.
The disposal is expected to be completed in the second half of 2024. — Bernama
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