Queensbay Shopping mall is a free-standing 8-storey shopping center with a lower ground floor and also a lower ground mezzanine consisting of 5 floors of retail area and parking area. It is one of Penang’s largest malls, with a web lettable location of 883,111 sq ft. As of Oct 7, the shopping mall has a committed occupancy of 95%.
Upon completion, CLI is expected to receive proceeds of about RM987.0 million (concerning $299.2 million) as well as realise an estimated gain of RM59.3 million (regarding $18.0 million). CLI states it intends to take up its pro-rata entitlement for the proposed exclusive placement included as part of the funding for CLMT to get Queensbay Shopping mall. As at Nov 3, CLI had a considered rate of interest of around 39.3% in CLMT.
Yuan Ching Road Chip Eng Seng Condo
“Concerning 87% of this worth is obtained by CLI’s provided as well …