PETALING JAYA, DECEMBER 21, 2020 - Lembaga Tabung Haji (TH) signed a purchase offer for an office tower from Bukit Damansara Development Sdn Bhd, a wholly-owned company of Johor Corporation (JCorp) for RM147 million.

VCQ Tower 1 is a 20-storey office tower in Petaling Jaya, Selangor and serves as the headquarters of QSR Brands, the entity managing KFC and Pizza Hut fast-food restaurant chain in Malaysia. 

Group Managing Director and Chief Executive of TH, YBhg. Datuk Nik Mohd Hasyudeen Yusoff said that the latest investment was expected to bring a return of 5.5 percent based on the full occupancy agreement and long-term rental of the building.

“As the trustee of the depositors, TH will continue to look for opportunities in making new investments directly or indirectly to increase the property portfolio which can provide a recurring and stable income, thus providing a sustainable return to 9 million TH depositors,” he said.