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| Malaysia |
In April 2006, GLM established a Real Estate Investment Trust ("REIT") known as Tower REIT, with the investment objectives of acquiring and investing in a portfolio of quality yield-accretive commercial real estate which will provide a stable income and medium to long term capital appreciation to unitholders as well as provide a stable recurring income to GLM. Tower REIT was listed on the Main Board of Bursa Securities on 12 April 2006.
Tower REIT currently comprises three commercial buildings located in Kuala Lumpur, namely HP Towers, Menara HLA and Menara ING. HP Towers and Menara HLA were the two initial properties sold by subsidiaries of GLM to Tower REIT, while the purchase of Menara ING was made in Oct 2006.
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Menara HLA :: Kuala Lumpur
Located in the heart of Kuala Lumpur’s Golden Triangle, the 32-storey office tower with a 4 levels basement car park is diagonally opposite the Kuala Lumpur Convention Centre. Menara HLA blue chip tenants such as Hong Leong Assurance Berhad and Aker Kvearner Engineering SEA Sdn Bhd, which is engaged in the oil and gas industry.
| Building Type |
Commercial |
| Net Leasable Area |
396,820 sqft |
| Occupancy |
94% |
| Location |
City Centre |
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HP Towers :: Kuala Lumpur
The building comprises two blocks of 9 storeys and 21 storeys and 3 levels of connecting podium. Tenants include Hewlett-Packard (M) Sdn Bhd and Dagang Net Technologies Sdn Bhd.
98%.
| Building Type |
Commercial |
| Net Leasable Area |
350,056 sqft |
| Occupancy |
98% |
| Location |
Bukit Damansara |
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Menara ING :: Kuala Lumpur
Menara ING is situated at Jalan Raja Chulan, an established office address within the Golden Triangle area of Kuala
Lumpur. As at 30 June 2008, Tower REIT owned 78.3% of the total share unit entitlement of the building or about 151,395 square
feet and 100% of the carpark bays. Tower REIT’s share of the building and carpark bays are 100% leased to the ING Insurance Berhad group of companies.
| Building Type |
Commercial |
| Net Leasable Area |
151,395 sqft |
| Occupancy |
100% |
| Location |
Jalan Raja Chulan |
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