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Tabung Haji buying UOA Devt's boutique office building
by hlk Wed 11 Jul 2012, 01:12
KUALA LUMPUR: Lembaga Tabung Haji is buying a 13-storey boutique office building in Bangsar South here for RM102.20mil from UOA Development Bhd.
UOA
Development said on Tuesday the purchase price for the one year old
building was about RM700 per square foot based on gross area of 146,000
sq ft.
"The current book value is RM75mil. The proposed disposal
is expected to generate an estimated gain on disposal of approximately
RM20.86mil," it said.
UOA Devt added the proposed sale of the
building would enable it to realise the fair value of its investment
property and enable the company to look for potential acquisition of
investment property, which might provide better yield.
"In the
interim, the proceeds from the proposed disposal will be put into fixed
deposit accounts with financial institutions," it said.
UOA
Development said on Tuesday the purchase price for the one year old
building was about RM700 per square foot based on gross area of 146,000
sq ft.
"The current book value is RM75mil. The proposed disposal
is expected to generate an estimated gain on disposal of approximately
RM20.86mil," it said.
UOA Devt added the proposed sale of the
building would enable it to realise the fair value of its investment
property and enable the company to look for potential acquisition of
investment property, which might provide better yield.
"In the
interim, the proceeds from the proposed disposal will be put into fixed
deposit accounts with financial institutions," it said.
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