Parkway Life Reit Divest Malaysian Property Rm2009 Mil

Parkway Life REIT’s Malaysia subsidiary, Parkway Life Malaysia, has recently entered into a sale and purchase agreement for the disposal of strata units and lots at MOB Specialist Clinics in Kuala Lumpur. The agreement, valued at RM20.09 million ($6.09 million), is expected to result in a gain of approximately $100,000 for the REIT upon completion.

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The property, which spans 2,444 sqm and has a freehold land tenure, comprises three ground-floor units, three medical-consulting suite units, and car-park lots. As of now, the property is the only asset owned by Parkway Life Malaysia and contributes 0.2% to its asset value. Upon completion of the divestment, Parkway Life REIT will no longer have any investments in Malaysia.

According to Parkway Life REIT, the sale consideration amount represents a 25.6% increase from the original purchase price of RM16 million in 2012. Additionally, it is 4.6% higher than the average of the latest property valuation at RM19.2 million as of December 31, 2024.

The divestment is part of the REIT manager’s asset recycling strategy, aimed at rebalancing and strengthening the overall quality and growth potential of the portfolio. The divestment is also in line with Parkway Life REIT’s focus on expanding its healthcare real estate portfolio in Japan.

This news was first reported on The Business Times.