UOA Corporate Tower, which is being acquired by UOA REIT. (Photo: Google Maps)

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.

Dear subscribers, please login to continue reading this article.

Don’t miss out on information beyond mainstream media reports that may impact your investments.
Login or sign-up for a free 25-day trial here. Why subscribe?

By Shariffa Al-Habshee

Shariffa joined REITsWeek in 2017, and monitors Asia-Pacific REITs for the publication.