Click HERE for the Mandarin version of the deal update.

Lukman Sheriff Alias, Teh Hooi Woon and Alya Irdeena Idzwan from Zul Rafique & Partners’ Energy & Utilities practice group has advised and acted for Lembaga Tabung Haji (TH) for the purchase of a 20 storey corporate building known as VSQ Tower 1 from Bukit Damansara Development Sdn. Bhd., for the total consideration of MYR147 Million.

VSQ Tower 1 is located in Petaling Jaya, a fast -growing city with over 600,000 inhabitants. The strategic position supported by the highway network makes it a popular location for real estate buyers and investors.

Group Managing Director and Chief Executive Officer of TH, Datuk Nik Mohd Hasyudeen Yusoff in a statement, said that the latest investment is expected to provide a return of 5.5% based on the full occupancy agreement and long-term lease of the building.

The transaction was also featured in:
Please click HERE to download the press release from Lembaga Tabung Haji.

For more insight into this area of law, please contact out Partners in the Energy & Utilities practice group:
Lukman Sheriff Alias
Teh Hooi Woon
Hamdi Abdullah

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