KIP Real Estate Investment Trust announced that the Employees Provident Fund has emerged as a substantial unitholder following the successful completion of the Group's recent private placement. With its current stake of over 6%, EPF now stands as the substantial unitholder.

The private placement involved the issuance of up to 180.0 million placement units at RM0.825 per unit, raising gross proceeds of up to RM146.70 million. The funds will be utilised to partly finance the RM320 million acquisition of D'Pulze Shopping Centre in Cyberjaya and cover related expenses.

Expressing on the milestone achievement, KIP REIT Chief Executive Officer Valerie Ong Pui Shan shared, "We are thrilled to welcome EPF as a substantial unitholder. Its confidence in KIP REIT is a testament to our strong fundamentals, income-generating capabilities, and strategic growth initiatives. This is a pivotal moment in KIP REIT's journey, as we continue to attract esteemed institutional investors like EPF. Its support strengthens our position as a trusted investment platform and fuels our commitment to achieve sustained growth and deliver exceptional value to all stakeholders."

With EPF among its key unitholders, KIP REIT is better positioned to advance its growth strategy, enhance its portfolio, and create long-term value for its unitholders. In the financial year ended 30 June 2024, KIP REIT's net property income grew by 25.2% to RM77.8 million. This success is driven by its strategically diversified portfolio of retail and industrial properties located across Malaysia. Recent acquisitions, such as TF Value-Mart in Gerik, and the addition of D'Pulze Shopping Centre, reaffirm KIP REIT's commitment to expand its footprint in high-growth locations and deliver consistent returns.