Menara Tun Perak, Former Menara Maybank, Offered for Sale

Menara Tun Perak, formerly known as Menara Maybank, is being offered for full or partial sale, bringing one of Kuala Lumpur’s most recognisable commercial landmarks to the investment market following Maybank’s relocation to Merdeka 118.

The 55-storey office tower, located at 100 Jalan Tun Perak, served as the headquarters of Malayan Banking Bhd (Maybank) for nearly four decades. It is now being marketed as a potential investment and asset repositioning opportunity.

Knight Frank Malaysia and CBRE|WTW have been jointly appointed to advise on the proposed transaction, according to a sponsored investment announcement published by Mingtiandi on 27 October 2026. The sale was subsequently reported by Malay Mail on 29 October.

Investors may explore acquiring the entire property or participating through a partial investment structure. No asking price or completed transaction has been announced.

A 55-Storey Landmark Enters the Investment Market

Completed in 1988, Menara Tun Perak stands approximately 244 metres tall and was Malaysia’s tallest building until the Petronas Twin Towers surpassed it in 1998.

Designed by renowned Malaysian architect Hijjas Kasturi, the tower has long been associated with Kuala Lumpur’s financial district and Maybank’s corporate identity.

The building provides approximately 1.09 million sq ft of net lettable area, making it a substantial commercial asset rather than a conventional strata office investment.

According to The Edge’s reporting, Maybank’s 2025 annual report recorded a book value of approximately RM65.87 million for the property.

However, that figure represents an accounting value and should not be interpreted as the building’s current market valuation or expected transaction price.

The eventual consideration would depend on factors including existing occupancy, rental income, building condition, redevelopment potential and investor demand.

The availability of partial investment arrangements may also broaden the range of potential participants, although the ownership structure and transaction terms have not been publicly detailed.

Maybank’s Move to Merdeka 118 Changes the Building’s Role

The proposed sale follows Maybank’s relocation to Menara Merdeka Maybank within the Merdeka 118 precinct.

The banking group moved its headquarters in May 2026, ending the long-standing association between its corporate headquarters and the Jalan Tun Perak tower.

On 28 July 2026, Maybank formally announced that its new headquarters would be named Menara Merdeka Maybank, while the previous Menara Maybank would become Menara Tun Perak.

The renaming created a separate identity for the older building as Maybank established its headquarters in a newer commercial development.

Importantly, the headquarters relocation did not mean that all banking activities at the former tower had ceased.

Maybank previously confirmed that its Kuala Lumpur Main Branch would continue operating at Menara Tun Perak until further notice, with customer services unaffected by the headquarters move. No subsequent closure date was identified in the sale announcement.

The proposed disposal therefore represents a new stage in the property’s commercial life rather than simply the closure of a former headquarters.

Jalan Tun Perak Offers Established Rail and City Connectivity

Menara Tun Perak occupies a prominent location within Kuala Lumpur’s historic commercial centre, close to Dataran Merdeka, Chinatown, Petaling Street and Central Market.

Its position also provides access to the wider Merdeka 118 precinct, where newer commercial and hospitality developments are changing the character of the surrounding district.

Public transport is an important part of the property’s investment proposition.

According to the appointed advisers’ marketing announcement, Masjid Jamek LRT station is approximately 450 metres away, while Plaza Rakyat LRT station is approximately 550 metres from the building.

Together, the nearby connections provide access to the Kelana Jaya, Ampang and Sri Petaling LRT lines.

This accessibility could be relevant to future office tenants, hotel operators or other commercial occupiers seeking a central Kuala Lumpur address without relying exclusively on private vehicles.

The surrounding area also benefits from its established concentration of tourism, retail and cultural destinations.

However, proximity to visitor attractions does not automatically translate into commercial viability. Any future use must be assessed against actual customer demand, operating costs and the building’s physical suitability.

Office Repositioning, Hospitality and Mixed-Use Options

The advisers have identified several possible directions for Menara Tun Perak, including continued commercial use, refurbishment and alternative-use conversion.

Retaining the property as an office tower could involve upgrading building systems, improving energy efficiency, modernising common areas and adapting floor plates to contemporary tenant requirements.

Such an approach would need to compete with newer office developments offering modern workplace infrastructure and sustainability features.

Another possibility is repositioning part or all of the building towards hospitality or serviced accommodation.

The tower’s proximity to Chinatown, major transport connections and Kuala Lumpur’s heritage attractions provides a location-based argument for exploring these uses.

Nevertheless, converting an established office building into a hotel or serviced residence can involve significant technical challenges.

Potential purchasers would need to assess plumbing and drainage systems, fire safety, vertical circulation, ventilation, structural configurations and the ability to introduce appropriate guest or residential facilities.

Any conversion would also require the relevant planning, building and regulatory approvals.

A mixed-use concept could potentially distribute commercial risk across different occupancy categories, but its feasibility would depend on capital expenditure, operating arrangements and market demand.

At this stage, these are possible investment strategies rather than confirmed redevelopment plans.

What the Proposed Sale Means for Kuala Lumpur’s Older Office Stock

Menara Tun Perak’s availability highlights an issue facing established commercial buildings as major corporations migrate towards newer offices.

Modern corporate occupiers increasingly evaluate workplace efficiency, building services, environmental performance, transport connectivity and the overall employee experience.

Older office towers may need additional investment to remain competitive, even when they occupy highly accessible locations.

For Menara Tun Perak, its architectural identity and location provide characteristics that a newly constructed building cannot easily replicate.

Yet a recognisable address does not eliminate the costs associated with operating and maintaining a building completed almost four decades ago.

A prospective buyer would need to establish the tower’s current occupancy profile, existing leases, capital expenditure requirements and income potential before deciding on an appropriate acquisition structure.

The absence of a disclosed asking price also means it is premature to determine whether the proposed sale represents an attractive investment opportunity.

Menara Tun Perak Begins a New Commercial Chapter

The proposed full or partial sale of Menara Tun Perak places a historically significant Kuala Lumpur office asset back into the commercial property spotlight.

Following Maybank’s headquarters relocation, the building now has the opportunity to establish a different long-term identity, whether as an upgraded office address or a repositioned commercial property.

Its central location, substantial floor area and established architectural profile provide a starting point for investor consideration.

The key question is no longer simply who will acquire the former Menara Maybank, but whether the eventual investment strategy can deliver a commercially viable future for the 1988 landmark.

Until an asking price, purchaser or definitive redevelopment proposal is announced, Menara Tun Perak remains a marketed investment opportunity rather than a confirmed property transaction.