PHB buys hospital for RM87mil

KUALA LUMPUR: Pelaburan Hartanah Bhd (PHB), a subsidiary of Yayasan Amanah Hartanah Bumiputra, has acquired the nine-storey DEMC Specialist Hospital in Shah Alam, Selangor, for RM87mil.

PHB managing director-cum-CEO Datuk Kamalul Arifin Othman said DEMC could be a valuable asset for the company and was suitable for inclusion in its Amanah Hartanah Bumiputra fund.

“The property also offers sectoral variety to PHB’s property portfolio which now encompasses office, retail and industrial buildings,” he said in a statement.

With the DEMC acquisition, PHB expects RM106mil in annual gross rental income and total asset value to total RM1.35bil.

By Bernama