This article first appeared in The Edge Malaysia Weekly on December 31, 2018 - January 6, 2019

THE sale of The International School of Kuala Lumpur (ISKL) has emerged as the most anticipated deal for 2019, according to a survey of seven leading real estate experts by The Edge.

The school, with a long-standing history in Malaysia, has placed two of its campuses — in Ukay Heights in Kuala Lumpur and Melawati in Selangor — up for sale after moving to its new campus in Ampang Hilir in Kuala Lumpur. The total estimated value of the assets is RM180 million.

“The eventual sale of ISKL’s parcels reflects an increasing interest in alternative asset classes,” JLL Malaysia country head Y Y Lau says in explaining why she chose it as her most anticipated deal.

Rahim & Co director of real estate agency Robert Ang says the sites are likely to see the “eventual redevelopment of a well-known landmark in the quiet neighbourhood of Taman TAR”.

Property experts are eagerly awaiting the setting up of the world’s first airport real estate investment trust. The government hopes to raise RM4 billion from selling a 30% stake in the REIT to private institutional investors, Finance Minister Lim Guan Eng said during the tabling of Budget 2019.

Industry players are also keen to see a deal for the sale of Axiata Tower in Kuala Lumpur Sentral, estimated at RM530 million, by the Employees Provident Fund. They also hope to see the sale of Menara Prestige, at the corner of Jalan P Ramlee and Jalan Pinang, by Kuwait Finance House. The 36-storey office building is estimated to be worth RM700 million to RM750 million.

Other anticipated deals include asset disposals by the Federal Land Development Authority and Lembaga Tabung Haji as well as the potential sale of 1MDB’s assets. The experts are looking forward to a new era of open tenders for asset sales.

Other transactions to look out for are the location for the third national car project, the designation of 380 acres in Pulau Indah, Selangor, as a free trade zone to support and catalyse shipping and logistic activities in Port Klang and the redevelopment of Subang SkyPark.

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