Solarvest buys office and retail space for RM48.73mil

KUALA LUMPUR: Solarvest Holdings Bhd has proposed to acquire a four-level office space and a rooftop retail unit with a built-up area of 39,375 sq ft for RM48.73mil cash.

In a filing with Bursa Malaysia, Solarvest said Solarvest Energy Sdn Bhd, a wholly-owned subsidiary of Atlantic Blue Sdn Bhd, which in turn is a wholly-owned subsidiary of the company entered into three separate conditional sales and purchase agreements (SPAs) with BK Alliance Sdn Bhd to acquire 4 levels of office space on Levels 26 to 29 with 200 parking bays and a rooftop retail unit on Level 31 of the Solarvest Tower in Kuala Lumpur.

The Solarvest Tower, located within the Bangsar South vicinity, is currently under construction and is approximately 40% completed as at May 23, 2024. It is expected to be completed in March 2028.

Solarvest currently rents an office in Petaling Jaya, Selangor for its headquarters. The proposed acquisition will let the company establish its new headquarters and own a permanent business location to expand its business, operations, and staff.