KPJ Healthcare buying 36-storey Menara 238 for RM206m

KUALA LUMPUR: KPJ Healthcare Bhd is buying the 36-storey Menara 238 here for RM206mil in a move to house all non-revenue generating services occupying its hospitals to the building.

KPJ said on Thursday it was buying the property, formerly Menara Marinara, from Danaharta Hartanah Sdn Bhd.

On the funding for the purchase, KPJ said of the RM206mil price tag, RM41mil would be from its own funds and RM164.80mil from borrowings.

It also said the building had since undergone a massive refurbishment and it was converted from office, commercial and apartment use into commercial and office use.

“The company also views that it has the capacity to manage and turn the property into a revenue centre on its own through its strategy of attracting the right tenants hence maximising its rental income,” it said.

KPJ planned to move all non-revenue generating services occupying KPJ hospitals to the building, whereby the hospitals could use the space to generate more revenue.

“The proposed acquisition will be the catalyst for KPJ’s future expansion with regards to its strength and niche in the private healthcare industry in Malaysia.

“This property will be the centre of all its healthcare activities throughout the country. It will serve as the headquarters and a center of excellence for services relating to the industry,” it said. 

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