Sime Darby Property Acquires Wisma UNIRAZAK for RM160 Million, Plans KLCC Redevelopment

Sime Darby Property is set to acquire Wisma UNIRAZAK for RM160 million through its subsidiary, Sime Darby Property (KLGCC Resort) Sdn. Bhd. This strategic purchase marks the property giant's debut in the prime Kuala Lumpur City Centre (KLCC) market.

The 15-story office building, situated on a 0.59-hectare freehold land along Jalan Tun Razak, will be redeveloped. Sime Darby Property plans to transform the site into a premium, integrated mixed-use development. The company anticipates a Gross Development Value (GDV) of RM900 million for the new project, with a targeted launch in 2026 and completion within five years.

Datuk Seri Azmir Merican, Group Managing Director and Chief Executive Officer of Sime Darby Property, stated that the acquisition is a significant milestone. He believes it will strengthen the company's position in the strategic Jalan Tun Razak-KLCC corridor. The development aims to leverage the company's expertise in lifestyle-oriented projects, similar to KLGCC Resort, to create a distinctive development reflecting the location's prestige and enhancing their presence in the luxury segment.

The proposed mixed-use development is expected to attract a high-end market, including professionals, high-net-worth individuals, expatriates, and foreign investors. The site's connectivity is a key advantage, with easy access via Ampang Park LRT and MRT stations, and proximity to major landmarks, embassies, and shopping centers like Suria KLCC and Pavilion Kuala Lumpur. This move is a forward step in Sime Darby Property's SHIFT32 transformation strategy, supporting long-term portfolio expansion and sustainable revenue and profit growth.

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This move positions us well to deliver a distinctive development that reflects the prestige of this location, while further strengthening our presence in the luxury segment.