KUALA LUMPUR: Lim Seong Hai Capital Bhd
(LSH Capital) has formalised the signing of a 20-year lease agreement with the Federal Lands Commissioner.
In a statement, LSH Capital said this aligned with the concession granted by the Government, which covered the management, operation, and maintenance of the nation's iconic Kuala Lumpur Tower and its surrounding areas.
The lease agreement was signed by LSH Service Master Sdn Bhd (LSHSM), a joint venture between LSH BEST Builders Sdn Bhd (LSHBB) and Service Master (M) Sdn Bhd (SMMSB), with LSHBB holding 70% and SMMSB 30%.
The 20-year lease, running from April 1, 2025 to March 31, 2045, allows LSHSM to modernise and manage Kuala Lumpur Tower.
It also grants access to 10.08 acres of land, including the tower, Tower Terrace, and surrounding areas near Bukit Nanas Forest Reserve, Jalan Raja Chulan, and Jalan P. Ramlee.
“We are deeply honoured to be entrusted with this national asset. This lease signing marks the beginning of an ambitious chapter – one where Kuala Lumpur Tower and its surrounding lands will be reimagined into a world-class destination that celebrates both innovation and heritage,” non-executive chairman Tan Sri Datuk Seri Lim Keng Cheng said.
“We see this as a golden opportunity to contribute meaningfully to Malaysia’s urban landscape and tourism appeal."
The Kuala Lumpur Tower project marks the first facility management services project for LSH Capital, aimed at establishing a stable base of long-term recurring income stream for the group.
