PETALING JAYA: Sime Darby Property Bhd
(SimeProp) has accepted a binding letter of offer from Permodalan Nasional Bhd for the proposed acquisition of Wisma Universiti Tun Abdul Razak (Wisma UniRazak) for RM160mil.
Sitting on a freehold 1.46-acre site along Jalan Tun Razak, the asset currently comprises a 15-storey office building with one level of basement carpark.
Subject to approval of development plans, SimeProp says the group intends to redevelop the asset into a premium mixed-use project with an estimated gross development value of RM900mil.
“The proposed development is targeted to be launched in 2028 and is expected to be completed within five years from the launch date,” it said.
SimeProp said the acquisition is expected to strengthen the group’s presence in one of Kuala Lumpur’s most sought-after locations, building on the success of previous launches such as Jendela Residences and The Ophera at the Kuala Lumpur Golf and Country Club.
