Onn Mahmud-linked Firm To Acquire Sheraton Imperial

The real estate agent says it cannot confirm the acquisition as it signed a non-disclosure agreement with the company buying over the building for RM250 million

Onn Mahmud-linked Firm To Acquire Sheraton Imperial

One of Kuala Lumpur's most recognisable structures, the five-star Sheraton Imperial Kuala Lumpur Hotel, was reportedly sold for roughly RM250 million to a corporation connected to Tan Sri Datuk Wira Onn Mahmud, the brother of Sarawak Governor Tun Abdul Taib Mahmud.‌‌

The Edge yesterday said it has learned that the 33-story hotel has been purchased by the Achi Jaya Group of Companies.‌‌

After signing a non-disclosure agreement, Sarkunan Subramaniam, managing director of Knight Frank Malaysia, the real estate company hired to conduct the sales transaction, stated the company was unable to comment.