Image source: www.simedarbyproperty.com
Sime Darby who had recently sold two parcels of prime land in Kuala Lumpur and Penang with a total combined figure of approximately RM60 million, is now planning on the sale of an office building in Ara Damansara that is estimated to be worth about RM200 million.
While sales of the land in Kuala Lumpur and Penang were confirmed, the official figures were not released. Considered as non-core lands to the Group, these parcels were not under the company’s key development focus area due to their small sizes.
The monies from these lands will be used for the company's future developments in key growth areas. Bids for the land in U-Thant, Kuala Lumpur and an affluent area in Pulau Tikus, Penang, were opened in 2018 and closed on 29th August 2018.
According to The Edge Malaysia, the parcel of land in U-Thant was sold to Kuching-based Paramount Oracle Sdn Bhd for RM33.33 million. And while the buyer for the 1.71 acres of land in Penang remains undiscovered, it is said that the land was sold to a mid-sized developer. The market value of the land is estimated at RM37 million, as stated in the Sime Darby Property November 2017 listing prospectus.
Sales of the office building and parking lots in Ara Damansara by Sime Darby has been confirmed by a spokesperson. According to the spokesperson, “Sime Darby Brunsfield Holdings Sdn Bhd, a 60% subsidiary of Sime Darby Property and the developer of Oasis Corporate Park, is planning to unlock the value of its development from the disposal of Block F through an open tender.
"Oasis Corporate Park, which opened in 2015, is a thriving residential, commercial and retail development in Petaling Jaya that benefits from excellent connectivity and its strategic location in the mature township of Ara Damansara.”
The building for sale fronts Jalan Lapangan Terbang Subang and stands 12 storeys tall with a net lettable area of 177,000 sf. The closing date for the tender is 13th March 2020.
(4 February 2020)
