PETALING JAYA: The Qatar Investment Authority is planning to participate in the ownership of Malton Bhd’s Pavilion Bukit Jalil development.
“Qatar Investment Authority had, via its letter dated Jan 3 which was received on Jan 19, informed that they have obtained principle approval from their Investment Committee,“ Malton said in a stock exchange filing.
This, it said, is subject to the completion of due diligence and execution of legal definitive agreements.
The news comes after Pavilion Real Estate Investment Trust decided not to participate in the ownership of the Pavilion Bukit Jalil mall.
Pavilion Bukit Jalil is an ongoing development by Malton’s wholly owned subsidiary Pioneer Haven Sdn Bhd.
The project comprises one block of retail mall with five levels of retail spaces and two levels of basement parking. It houses everything from the finest fashion and home furnishing to entertainment and culinary delights.
It is expected to start operating by 2020.
