KWAP is looking beef up its property portfolio with more office buildings. CEOWan Kamaruzaman Wan Ahmad said the fund is close to securing its maiden property deal in the heart of Kuala Lumpur that will also house its new headquarters.
The completed office tower, eyed by KWAP, is already partly tenanted.
“This would allow us to get immediate rental income once the transaction is completed,’’ Kamaruzaman says.
KWAP bought its first property in Australia in 2010.
It now has six properties in big cities in Australia and in London. (see table)
Kamaruzaman says the fund is currently doing a due diligence on a potential property acquisition in the United States.
He laments the hassle and slow process of buying properties in Malaysia.
“It is easier and quicker for us to complete an acquisition in developed countries,’’ he says.
Kamaruzaman says KWAP is also looking for opportunities to acquire plots of land with development potential in the Klang Valley.
“We have revised our investment guidelines to allow for land acquisition, undertake construction risk and property development project,’’ he says.
Another area that the fund is keen to venture into is ownership of infrastructure assets that provide steady recurring income.
Kamaruzaman says the fund is interested to invest in highways, ports and power plants, although an expansion into this type of investment will probably be confined to domestic assets.
“Infrastructure asset fits well into our investment strategy,’’ he says. - The Star
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