Tabung Haji website says TH own Sydney apartment block which former THP CEO Roszali said was handed over to purchasers

by Ganesh Sahathevan

From the Tabung Haji website:

TH ventures into property investment abroad for long-term and stable revenues. This portfolio has placed TH in the same league as other Government-linked Investment Companies (GLICs).

Amongst the properties acquired by TH are as follows :

United Kingdom	Australia	Saudi
Centrica Global Headquarters United Kingdom	Imperial Hurstville Sydney	Hajar Tower Makkah
10 Queen Street Place London	-	Rawda Ajyad Hotel Makkah
Unilever House United Kingdom	-	Rayyana Hotel Makkah
Chilworth Lancaster Gate London	-	Al-Haram Hotel Madinah
-	-	Al-Saha Hotel Madinah
-	-	Al-Aqiq Hotel Madinah

However, in 2018 then TH Properties  Group managing director Datuk Roszali Othman told The Star:

“Meanwhile, the Imperial Hurstville (229 apartments and retail lots) is targeted for completion in May 2018. Currently, 223 units of the project have been sold,” he said.

What The Star has reported and what is published on the TH website with regards the Imperial Hurstville asset are two different things. Note that the information on TH website does not say that the Imperial Hurtsville was acquired as a business for development but a property that would yield rental income, This is strange for most developers in Sydney would rather sell off-the-plan and exit the development. Being a rent collecting landlord is not easy, especially when the landlord is far away in another country. 

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