Not bad, 8.2% return on investment is a rather attractive figure, but property investment just ain’t my cup of tea.I would rather consider land investment, since you don’t have to worry that those oil palm trees or rubber trees running away! :-D
Property Times on the purchase of the City Square Centre…
Situated in a strategic location of KL at the intersection of Jalan Ampang and Tun Razak and near the Petronas Twin Towers, the property comprising the 61-storey Empire Tower, the 28-storey, 571-room Crown Princess Hotel and the 11-storey City Square Shopping Centre was purchased for a total of RM680 million.The price, a slight 3.9 per cent discount from its market value of RM708 million, was made up of RM270 million for the office tower, RM240 million for the hotel and RM170 million for the shopping component.
Based on AP Land?? 2005 annual report as well as from rent estimates, the total revenue that can be generated by the components could be about RM56 million a year, implying an attainable yield of 8.2 per cent.
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CC Ng