KUALA LUMPUR: UOA Real Estate Investment Trust (UOA REIT) is selling Wisma UOA Bangsar to Makmal Capital Sdn Bhd for RM32 million cash, the REIT’s first property disposal since its inception. UOA REIT’s manager, UOA Asset Management Sdn Bhd said the consideration represented a RM10.35 million or 48% profit over the property’s net book value (NBV) of RM21.65 million as at June 30, 2007. The disposal came just a day after UOA REIT announced plans to buy Wisma UOA Pantai from UOA Holdings Sdn Bhd Magna Tiara Development Sdn Bhd, a sister company of UOA Asset Management, for RM86 million. As at June 16, 2006, UOA Bangsar was fully occupied. Its three tenants were Volkswagen Group Malaysia Sdn Bhd, Petra Equities Sdn Bhd and Apertio Asia Pacific Sdn Bhd. By The EDGE
Friday, November 9, 2007
UOA REIT to sell UOA Bangsar for RM32m
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