Apex Equity completes RM50m acquisition of Bangsar South office building for group HQ

PETALING JAYA (May 12): Apex Equity Holdings Bhd has completed the RM50 million acquisition of a boutique office building in Bangsar South City, Kuala Lumpur, with all conditions precedent fulfilled and the balance of the purchase price released to the vendor today.

According to its Bursa announcement yesterday, the property — Building No. 9, Horizon Phase 1, The Horizon mixed-commercial development in Bangsar South — was acquired by Apex Development Sdn Bhd, a wholly-owned subsidiary of Apex Equity Holdings, from Noah Foundation. 

The building measures approximately 54,876 sq ft in total floor area, translating to an acquisition price of approximately RM911 psf, representing a discount to its indicative market value of RM52 million as appraised by PA International Property Consultants (KL) Sdn Bhd.

The acquisition was first announced on Dec 30, 2024, and was funded via RM40 million in bank borrowings and RM10 million in internally-generated funds. 

Read also:
Apex Equity buys office building in Bangsar South for RM50 mil for relocation

The building, which was vacant at the time of purchase, will serve as the new headquarters for Apex Group and its subsidiaries, following the expiry of the group's existing tenancy in the second quarter of this year. Any remaining unoccupied floors will be made available for lease.

Apex Equity Holdings is principally involved in stockbroking, property development, and money lending services.

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