Cuscapi to purchase commercial space in Empire City for RM20m

PETALING JAYA: Cuscapi Bhd is purchasing a 33,340 square feet commercial space within the podium below MYEG Tower, Empire City from Cosmopolitan Avenue Sdn Bhd for RM20.0 million.
The deal comes with a clause for Cuscapi to sell back the space to Cosmopolitan for RM13.3 million within six months from the date of delivery of vacant possession. This option will only be exercised should there be any unforeseen circumstances beyond Cuscapi’s control which may impact the group’s operations.
The space is part of the shopping mall which is being developed as part of a 23 acre self-contained integrated mixed development at Empire City @ Damansara. The completion rate of the building is at 55%.
Cuscapi does not own any property and is currently leasing two levels of building from a third party. The acquisition provides Cuscapi space for future expansion and an investment opportunity for the group to own commercial space in a strategic location of a shopping mall at an attractive price.