Court rules SunREIT rightful owner of Putra Place

KUALA LUMPUR: The Court of Appeal has ruled that Sunway Real Estate Investment Trust (SunREIT) is the rightful owner of Putra Place building and dismissed the appeal by Metroplex Holdings Sdn Bhd.

Sunway group in a statement on Tuesday, Sept 27 said the Court of Appeal had dismissed Metroplex's appeal against the High Court's orders granted on June 28.

"With the dismissal of the appeal, it is affirmed that OSK Trustees Bhd (as trustee for SunREIT) is the rightful owner of Putra Place," it said.

Sunway REIT Management Sdn Bhd, the manager of SunREIT, and the trustee will take delivery of control and management of Putra Place and to enforce the High Court's order that Metroplex is to pay mesne profits from April 19, until it hands over the building.

Sunway group said OSK Trustees, on behalf of SunREIT, had successfully bid for Putra Place on March 30 at a public auction held at the High Court for RM513.94 million where the reserve price was fixed by the High Court.

Looking for properties to buy or rent? With >150,000 exclusive listings, including undervalued properties, from vetted Pro Agents, you can now easily find the right property on Malaysia's leading property portal EdgeProp! You can also get free past transacted data and use our proprietary Edge Reference Price tool, to make an informed purchase.