Sentral Real Estate Investment Trust (Sentral REIT) has announced its intention to acquire the 27-story Menara CelcomDigi, previously known as Menara Celcom, from the Malaysian Resources Corp Bhd (MRCB).
Sentral REIT’s management company, Sentral REIT Management Sdn Bhd, has accepted a letter of intent from MRCB, kick-starting the negotiations for the proposed acquisition. Although the exact acquisition value has not been disclosed, it’s speculated that the building is worth over RM500 million.
Previously known as MRCB-Quill Real Estate Investment Trust (MQREIT), Sentral REIT has shown interest in acquiring Menara Celcom Digi since its construction phase in 2016, aiming to expand its portfolio.
As of now, Sentral REIT boasts nine assets valued at approximately RM2.06 billion. These include well-known properties such as Menara Shell, Wisma TechnipFMC, Platinum Sentral, Lotuss Building Penang, Quill Building 1 (DHL), Quill Building 4 (DHL), and Quill Building 3 (BMW).
The total net lettable area (excluding the car park area) of Sentral REIT’s assets is 2.11 million square feet as of March 31, 2023. Their portfolio exhibits a solid occupancy percentage of 77%.
Their primary tenants come from diverse sectors including oil and gas, logistics, information technology/electronics, and hypermarkets/supermarkets.
Developed by MRCB’s fully owned subsidiary, Puncak Wangi Sdn Bhd, the Menara CelcomDigi building was handed over to Celcom Axiata Bhd in September 2018.
The building, strategically located in Section 52, Petaling Jaya, Selangor, is currently leased to Celcom Bhd for a period of 15 years, extendable for two more terms of three years each.
With a gross floor area of 1.06 million square feet, the leasehold office skyscraper includes three levels of basement parking with 788 car parking bays and 287 motorcycle parking bays. The property also hosts the headquarters of Celcom and significantly supports its operations.
