AEON REIT Investment Corporation

Securities Code:3292

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M-1

AEON Taman Universiti Shopping Centre

  • AEON Taman Universiti Shopping Centre1
  • AEON Taman Universiti Shopping Centre2
  • AEON Taman Universiti Shopping Centre3
Property number M-1
Property name AEON Taman Universiti Shopping Centre
URL http://www.aeonretail.com.my/promotion/store-locations/store-and-shopping-centre/location_detailTU.php
Location Daerah Johor Bahru, Negeri Johor. Malaysia
Type Regional shopping center (RSC)

We own a portion of AEON Taman Universiti Shopping Centre located in Johor Bahru, the state capital of Johor in Malaysia.

Property Features

A Shopping Center with Name Value in Malaysia

●This property, which opened in August 2002, is the first shopping center in the Iskandar Malaysia district operated by AEON Group. The two-story building was built on 8.7 acres (approximately 35,070 m2) of land and the total floor space is 246,184 square feet (approximately 22,870 m2).
●The property is a type of shopping mall targeting the mass end of the market, including a shopping center operated by AEON Group as the anchor tenant. It hosts approximately 60 specialty stores.
●The AEON shopping center, with its name value and large variety of merchandise, continues to have a strong hold on the shoppers from the local communities.

Characteristics of Malaysia

●Malaysia's GDP grew at an average annualized rate of 5.7% between 1999 and 2012 as the economy was led by its strong domestic demand. The rise in disposable income has led to an increase in the consumption power of the country's residents. The GDP grew year on year 4.7% in 2013, 6% in 2014 and 5.0% in 2015 respectively.
●Johor, the state where this property is located, is host to a large-scale comprehensive development project known as the Iskandar Malaysia, which is currently underway in the Iskandar district in the south, and Johor is showing significant economic growth as a result.
●This property is located in Taman Universiti, which is one of the largest towns in the Iskandar Malaysia district, and lies adjacent to residential areas such as Taman Universiti, Tiara Lini and Taman Sutera Utama. Including households that already use the shopping center, there is estimated to be more than 12,000 households living within a 3 km radius, with a potential customer population estimated to be more than 78,429 people. Also, the area within the 3 to 5 km radius is relatively undeveloped, so there is ample room for new residential development.

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Key Property Data

Property name AEON Taman Universiti Shopping Centre
Address Lot 49045, Mukim Pulai, Daerah Johor Bahru, Negeri Johor, Malaysia
Type of specified asset Trust beneficiary interests created in accordance with overseas laws and ordinances
Acquisition date June 25,2014
Acquisition price ¥658 million (RM 20million)
Land Lot area 35,070.00㎡
Building Completion date May 30, 2002
Structure / Floors Reinforced concrete
Total floor area 22,870.00 m2
Property management company AEON CO. (M) BHD.
Master lease company AEON CO. (M) BHD.
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