Share
JOHOR BAHRU (Feb 10): KIP Real Estate Investment Trust has officially reopened KIPMall Tampoi following the completion of a comprehensive asset enhancement initiative (AEI) exercise.
According to a press statement dated Feb 8, the AEI aimed to enhance shopper experience, improve tenant productivity and support income resilience through upgrades to layout, operations and infrastructure.
Upgrades included the transformation of the fresh market into a farmer-market-style environment, modernisation of common areas, and introduction of new local and regional tenants such as The Chicken Rice Shop, ZUS Coffee, CU Mart, Guardian and Mixue.
The refurbishment also created a more functional centre court to support community events, promotional activities and cultural engagement.
Sustainability features integrated into the AEI include expanded solar photovoltaic capacity, chiller system upgrades in collaboration with KJTS, installation of LED lighting, improved ventilation, upgraded drainage and recycling facilities, in line with GreenRE Gold certification requirements.
“This AEI reflects our disciplined capital allocation strategy to strengthen income sustainability and long-term value,” said KIP REIT CEO Valerie Ong in the statement.
She said the AEI also aligns with the company’s long-term strategy to preserve asset relevance and contribute to local economic vibrancy through prudent reinvestment and operational upgrades.
“Asset enhancement is a key pillar of KIP REIT’s value creation strategy and our role as a market leader in transforming existing assets into future-ready buildings,” she said.
Unlock Malaysia’s shifting industrial map. Track where new housing is emerging as talents converge around I4.0 industrial parks across Peninsular Malaysia. Download the Industrial Special Report now.
