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KUALA LUMPUR** — YTL Hospitality REIT (YTL REIT) has entered into a long-term lease agreement for its hotel property in Puchong, Selangor—now operating as AC Hotel Puchong—with Prisma Tulin Sdn Bhd, a wholly owned subsidiary of YTL Corporation Berhad.
According to a filing with Bursa Malaysia, the lease will take effect on 1 April 2026 and spans 15 years, with an option to renew for an additional 15-year term.
The agreement outlines a structured rental scheme, starting at RM3.64 million annually for the first five years. This will increase to RM3.822 million for years six to ten, and RM4.013 million for years eleven to fifteen. Additionally, the lease includes a 5% rental escalation every five years, reflecting a steady income growth strategy for the REIT.
Prisma Tulin Sdn Bhd, as a subsidiary within the YTL Group, reinforces the group’s integrated approach to managing hospitality assets. The arrangement allows for operational continuity while optimizing asset value under the broader YTL ecosystem.
The move is seen as part of YTL REIT’s ongoing efforts to strengthen its portfolio performance through stable, long-term leasing arrangements, particularly within the hospitality sector.
2026-03-30T01:09:00Z
Source Link: YTL REIT leases AC Hotel Puchong to YTL Corp unit | The Star