CapitaLand Malaysia Trust’s proposed disposal of 12-storey office building “3 Damansara Office Tower” for RM52 million
Advised CapitaLand Malaysia Trust (“CLMT”), a real estate investment trust listed on the Main Market of Bursa Securities, in respect of the disposal of a 12-storey office building known as “3 Damansara Office Tower” (“Property”) to Lagenda Harta Sdn Bhd, a wholly-owned subsidiary of Lagenda Properties Berhad for a total cash consideration of RM52 million. 3 Damansara Office Tower forms part of an integrated commercial development, which also includes a 4-storey shopping mall together with its car park components known as “3 Damansara” and the residential tower together with its car park components known as “the Tropics”.
As the Property is part of an integrated commercial development where common facilities and car parks are being shared by various parcel owners, various commercial, legal and regulatory issues were required to be resolved to meet the client’s business and commercial objectives.
Advising CLMT was Partner Joycelyn Ang.
