PETALING JAYA  (May 12): UOA Development Bhd has confirmed the formal rescission of three sale and purchase agreements (SPAs) involving the proposed RM200 million sale of commercial properties to UOA Real Estate Investment Trust (UOA REIT), after unitholders voted down the deal.

In a Bursa Malaysia filing today, UOA Development said its 60%-owned subsidiary Everise Project Sdn Bhd had accepted the rescission on May 8, following the failure of the condition precedent — unitholder approval — at UOA REIT's adjourned unitholders' meeting on April 29.

Read also:
UOA REIT unitholders vote down RM200m acquisition of three commercial properties

The three properties, located within UOA Business Park in Glenmarie, Shah Alam, were to be acquired by RHB Trustees Bhd as trustee of UOA REIT. The SPAs are now null and void, and neither party shall have any claims against the other arising from the agreements, save for any antecedent breach.

The proposed deal, which had been in the pipeline since October 2025, was to be partly funded via RM110.5 million in new UOA REIT units.

..........

EdgeProp's monthly print edition is out! Free delivery is available for selected regions. Subscribe now.

SHARE
SPONSORED CONTENT
Why residents are finding a sense of completeness at Setia homes

For Malaysia’s younger, family-oriented homeowners, the meaning of “home” is evolving. Beyond shelter, it is increasingly viewed as a space that supports family traditions, personal development and everyday functionality.

read more
RELATED POSTS
  1. UOA Development terminates care services joint venture at Komune Living and Wellness Centre in Cheras
  2. UOA REIT releases FY2025 annual report, sets April 29 for AGM
  3. UOA Development’s 4Q profit surges on revaluation gains