Our Corporate Real Estate Partners, Ainal Marlinda Md Said, and Nuramira Syahida Mazlan with the support of our associate, Abdul Rahman Zakaria were pleased to have advised URUSHARTA JAMAAH SDN. BHD. (“UJSB“) in connection with two significant disposals to LEMBAGA TABUNG HAJI undertaken as part of the parties’ partial redemption of their existing Sukuk arrangement reflecting the continued efforts of both UJSB and Lembaga Tabung Haji to restructure and optimise their respective asset holdings in line with their long-term financial and investment strategies.
The first of these transactions involved the disposal of a parcel of freehold land located within the Tun Razak Exchange (TRX), Kuala Lumpur, for a total consideration of RM270 million. The second involved the disposal of 100% of the shares in UJ ESTATES (HOLDINGS) SDN. BHD., for a total consideration of RM695 million. Together, these transactions represented a combined value of approximately RM965 million and formed a key part of the broader restructuring arrangement between UJSB and Lembaga Tabung Haji.
We are honoured to have had the opportunity to support UJSB on these strategically important transactions, and to have played a part in advancing its wider investment objectives through the successful structuring and completion of both disposals. Given the scale and complexity of the matters, spanning both real estate and corporate share disposal considerations where the transactions required close coordination across multiple work streams to ensure a seamless and timely outcome for our client.
The successful completion of these transactions reaffirms the Firm’s continued commitment to delivering strategic, solutions-oriented legal counsel to its clients, and further underscores the depth of experience and capability of its Corporate Real Estate Practice Group in managing complex, high-value, and multi-faceted matters of this nature.
