UOA REIT gets offer for building

By BERNAMA

UOA Asset Management Sdn Bhd, the management company of UOA Real Estate Investment Trust (REIT), announced yesterday it has received a letter of offer from UOA Holdings Sdn Bhd on the sale of the UOA Pantai office building for RM86 million.

The five-storey building, owned by UOA Holdings’ subsidiary Magna Tiara Development Sdn Bhd, has an approximate lettable area of 157,481 square feet with 272 car park bays, UOA Asset Management said in a statement.

The offer followed from the rights of first refusal granted by UOA Holdings to UOA REIT to acquire suitable properties from the group, it added.

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