LSH Capital Secures 20-year Lease To Manage KL Tower

KUALA LUMPUR, March 26 (Bernama) -- Lim Seong Hai Capital Bhd (LSH Capital) has signed a 20-year lease agreement with the Federal Lands Commissioner to modernise and manage one of Malaysia’s most iconic landmarks, the Kuala Lumpur Tower (KL Tower), and its surrounding areas.

The property developer and construction company stated that it plans to rejuvenate and enhance KL Tower and its vicinity, transforming the entire precinct into a vibrant, integrated destination for tourism, retail, and cultural engagement.

LSH Capital said the lease agreement aligns with the concession granted by the government, which covers the management, operation, and maintenance of KL Tower and its surroundings. The agreement, effective from April 1, 2025, to March 31, 2045, grants LSH Capital rights over about ten acres of land, including the KL Tower site, Tower Terrace, and adjacent areas.

Its non-executive chairman Tan Sri Lim Keng Cheng described the project as a golden opportunity to contribute meaningfully to Malaysia’s urban landscape and boost its tourism appeal.

The lease agreement was signed by LSH Service Master Sdn Bhd, a joint venture between LSH BEST Builders Sdn Bhd (LSHBB) and Service Master (M) Sdn Bhd (SMMSB), with LSHBB holding a 70 per cent stake and SMMSB the remaining 30 per cent.

LSH Capital noted that this marks its first foray into facility management services, and aims to establish a stable base of long-term recurring income for the group.

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“LSH Capital is committed to expanding this new business segment to create sustainable growth while providing high quality, integrated services that contribute to Malaysia's infrastructure development,” the company said in a stock exchange filing.

-- BERNAMA