Tag: UNIRAZAK

Sime Darby Property buys Wisma UNIRAZAK for RM160 million

KUALA LUMPUR. July 7 -- Sime Darby Property Bhd has purchased Wisma Universiti Tun Abdul Razak (UNIRAZAK) from Permodalan Nasional Bhd (PNB) for RM160 million. The company plans to redevelop the site as a premium mixed-use development that is expected to have an estimated gross development value (GDV) of RM900 million.     In a statement to Bursa Malaysia on Monday, the property developer said its wholly-owned unit, Sime Darby Property (KLGCC Resort) Sdn Bhd, had received a binding offer letter from PNB for the proposed purchase of the 0.59 hectare freehold property along Jalan Tun Razak. "The proposed development is targeted to be launched in 2028 and is expected to be completed within five years from the launch date," said Sime Darby Property. Group Managing Director and Chief Executive Officer, Datuk Seri Azmir Merican said the purchase of Wisma UNIRAZAK was a significant achievement for the group, marking their entry into the Kuala Lumpur City Centre (KLCC) market. “Located within the Jalan Tun Razak-KLCC corridor, it strengthens the group’s position in a prime urban area and provides a rare opportunity to unlock long-term potential value from a highly strategic site and limited land,” he said. -- BERNAMA

KUALA LUMPUR , July 7 — Sime Darby Property Bhd has purchased Wisma Universiti Tun Abdul Razak (UNIRAZAK) from Permodalan Nasional Bhd (PNB) for RM160 million. The company plans to redevelop the site as a premium mixed-use development that is expected to have an estimated gross development value (GDV) of RM900 million.     In a statement […]