AL-SALĀM Real Estate Investment Trust (REIT) has entered into an agreement to sell a commercial property at Jalan Kuchai Lama, Kuala Lumpur, for RM14.7 million in cash.

The property, which includes a single-storey building with a drive-through, is currently leased to QSR Stores Sdn Bhd and has a net book value of RM14.6 million.

The purchaser of the property is Winfar Builders Sdn Bhd.

The sale is expected to result in a small gain of RM100,000 for Al-Salām REIT. — TMR