PHB increases assets through new property acquistions

Pelaburan Hartanah Bhd (PHB) has increased its total asset values to about RM1.5 billion, following its acquisition of two retail buildings, two levels of basement carparks and three office buildings in Peremba Square in Shah Alam.

PHB said it has entered into a sale and purchase agreement (SPA) with Axaregal Sdn Bhd to acquire the assets in Peremba Square.

It added that 90 percent of the office blocks were currently occupied by local and international companies. The agreement gives PHB the right to own 85 percent of Peremba Square (Block A, B, D, E, F and G) except Block C which is owned by another entity.

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