KIP REIT’s RM435 Million Setapak Deal Lifts Portfolio to 20 Properties

Kuala Lumpur, 30 September 2026 – KIP Real Estate Investment Trust has completed its RM435 million purchase of Setapak Central Mall, taking its portfolio to 20 properties and assets under management to RM2.2 billion. The transaction gives the trust its first property in Kuala Lumpur and moves it past a RM2 billion asset target originally set for 2027, according to its release. Bursa Malaysia confirmed completion on 30 September after settlement of the balance purchase consideration.

The acquired three-storey mall, now renamed KIPMall Setapak, has 514,777 square feet of net lettable area plus a basement car park. It sits in an established catchment of households and students within the wider Klang Valley. The addition raises the trust’s total net lettable area by about 16% to 3.8 million square feet, increasing exposure to urban retail rather than simply adding another suburban asset.