Tuesday, December 04, 2007

CIMB to sells its HQ and then leases back

CIMB decides to capitalize on the high property price these days, to sell off its Menara Bumiputera Commerce, which is scheduled to be ready by end of 2008.

The price for that 39 storey building is very good at RM460 million or RM730 per square foot. The purchaser is Pelaburan Hartanah Bumiputera Berhad (PHBB).

CIMB would then lease back the HQ for 10 years at a undisclosed amount.

The HQ is currently being constructed by IJM.

For full news, read from Forbes

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