Apex Equity to acquire property in The Horizon in Bangsar South for RM50mil

KUALA LUMPUR: Apex Equity Holdings Bhd's wholly-owned subsidiary Apex Development Sdn Bhd has inked a deal with Noah Foundation to acquire a parcel of boutique building in Phase 1 of The Horizon mixed-commercial development in Bangsar South, Kuala Lumpur, measuring about 54,876 sq ft in total floor area for RM50mil.

In a filing with Bursa Malaysia, Apex said it plans to relocate its business into the acquired property in light of the expiry of the lease of its current tenancy in the second quarter of 2026.

It added that the proposed acquisition is expected to be funded via RM40mil in bank borrowings and RM10mil in internally generated funds.