Alliance Bank to move HQ to Oxley Towers

KUALA LUMPUR: Alliance Bank Malaysia Bhd (ABMB) will relocate to its new Malaysian headquarters at the Oxley Towers in Kuala Lumpur. In a filing to Bursa Malaysia today, ABMB said it had entered into a Sale and Purchase Agreement with Oxley Rising Sdn Bhd for the acquisition of office suites together with retail lots, all located at Tower 3 (Menara C) of the Oxley Towers mixed commercial cum residential development along Jalan Ampang, Kuala Lumpur City Centre.

The acquisition will include 24 floors of office suites from Level 6 to Level 29 with a floor area of 315,711 sq ft; and four adjoining retail lots consisting of two duplex units located on the ground and first floors, and two units on the gound floor of the two-storey retail podium, measuring a total floor area of 9,569 sq ft. The properties will house the new corporate office of the ABMB Group.

ABMB said the purchase price of RM405.8 million will be fully funded via the capital market and internal funds.

ABMB added that the reasons for the acquisition include; the opportunity to improve visibility and branding of ABMB due to the strategic location at the commercial centre of KLCC and a dedicated building name of Alliance Bank will improve the visibility and branding of ABMB; enhancement to staff working environment and well-being; and moving to a building which is earmarked as a Green certified building forms part of the ABMB’s policy to be a more sustainable and resilient organisation.

ABMB expects Tower 3 to be completed by the end of Nov, 2024, which is also the date when the acquisition is expected to fully completed.