UOA REIT to raise MYR280 million for office tower acquisition

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Malaysia-listed UOA REIT has entered into a conditional sale and purchase agreement to acquire UOA Corporate Tower, which is located in Kuala Lumpur.

The 38-storey office building is being acquired from Distinctive Acres Sdn Bhd, a subsidiary of the REIT’s sponsor, UOA Development.

The purchase consideration that will be paid by the REIT is MYR700 million (USD168 million), a slight discount to the property’s last appraised value of MYR718 million.


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