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Malaysia’s Hunza eyes mall rental income from 2013

Developed by Hunza Properties Bhd, a well established property developer in the northern Malaysia, Gurney Paragon is the most eagerly awaited shopping centre by Penangites and foreigners.

Hunza Executive Chairman Datuk Khor Teng Tong said the development of Gurney Paragon was in line with the group’s plan to transform itself from a property developer to one which is also a real estate landlord.

"Hunza is expecting rental income from Gurney Paragon beginning next year of between 10 and 12 percent earnings before interest, taxes, depreciation and amortisation returns on investment in the first three years. The rental income stream from the mall will enable Hunza to have a strong base for recurring income," he said.

(Source: Business Times)