This article first appeared in The Edge Malaysia Weekly on September 29, 2025 - October 5, 2025

WISMA HELP, a 12-storey commercial building located at the intersection of Jalan Dungun and Jalan Gelenggang in Damansara Heights, Kuala Lumpur, has been put up for sale via a tender exercise.

According to documents sighted by The Edge, the now-vacant building has a gross floor area (GFA) of 222,000 sq ft and occupies a 1.04-acre freehold site, offering significant redevelopment potential. The property, which was built in 1983,  also includes 185 parking bays. It is understood that the tender will tentatively end in late October.

Sources say the property could fetch more than RM50 million, or about RM540 psf.

Real estate consultancy and property management firm ExaStrata Solutions Sdn Bhd CEO Adzman Shah Ariffin tells The Edge that the asset could command a higher price of around RM60 million. This translates into roughly RM550 psf based on a net lettable area (NLA) of 93,000 sq ft — equivalent to RM51 million for the building itself — with the remaining value attributed to an estimated RM50,000 per parking bay.

“The building has redevelopment potential with a higher plot ratio. Currently, based on GFA, the plot ratio is 1:5. The local plan may allow up to six or even seven upon redevelopment,” Adzman adds.

CBRE | WTW has been appointed the exclusive marketing agent for Wisma HELP. When contacted, the agent declined to comment.

A title search reveals that the property is owned by private education provider HELP International Corp Bhd (HIC). Companies Commission of Malaysia’s (SSM) data reveals that HIC is wholly-owned by Better Education Enterprise Sdn Bhd.

When contacted, Adam Chan Eu-Khin, deputy chairman of HELP Education Group Sdn Bhd (HEG), clarifies that Wisma HELP is not one of the subsidiaries acquired when the Chan family-led consortium regained control of HIC from Singapore-based private equity firm Southern Capital Group Ltd in April last year.

The Edge reported in June 2024 that the consortium had regained control of HIC, which had been taken private by Southern Capital in 2014. The Chan family’s investment vehicle, CL Heritage Sdn Bhd, acquired a 70% stake in HIC’s subsidiaries.

A company search shows CL Heritage has since been renamed HEG, which now fully owns HELP University Sdn Bhd. The top shareholder of HEG is CL Heritage SPV Sdn Bhd, whose shareholders are listed as Adam, his mother Datin Low Kam Yoke, Zero Zero Capital Sdn Bhd and Corston-Smith Asset Management Sdn Bhd.

HELP University, originally founded as HELP Institute and later known as HELP University College, was established in 1986 by Datuk Paul Chan Tuck Hoong and his wife, Low. The acronym HELP stands for Higher Education Learning Philosophy.

In a June 2024 interview with The Edge, Adam said the group plans to invest around RM120 million in completing the second phase of its 22-acre Subang campus and is considering the public listing of HIC by 2026 to help fund the expansion.

“Because we just bought over, we will need this year (2024) to tidy things up, then we will have two years of nice growth, and then 2026 is a good time for us to go to market. The first round, why we had an IPO [in 2007] was because my parents, being the founders, wanted to let the staff who had been with them for 20 years or so to also benefit from the growth of the school.

“Similarly, I think in the last 10 years, there have also been a lot of people with us. And we also want to reward them [via an IPO]. So, it is a combination of rewarding our loyal staff, raising money and having a platform for growth,” Adam said.

When asked if the listing plan was still on track, Adam confirms: “We plan to list in 2026 or 2027, depending on market conditions. We’ve already engaged an architect for our Subang campus, which will increase capacity by 600 students and include a new sports hub. This is all part of our five-year plan.”

The Edge also understands that Wisma CL, located in Jalan Semantan and just minutes away from Wisma HELP, too is up for sale now. The Damansara Heights campus of HELP University operates out of this building.

According to Adam, Wisma CL is privately owned by the Chan family. “While it is available for sale, we’re in no rush,” he says.

In the surrounding area, several transactions have taken place recently. In April this year, Widad Group Bhd sold a 12-storey office building next to Wisma CL for RM41.5 million cash to Richfield Builder (M) Sdn Bhd, a wholly-owned unit of Dhaya Maju Infrastructure (Asia) Sdn Bhd. The 28-year-old leasehold property includes six levels of elevated parking.

Additionally, the long-vacant 16-storey Wisma Damansara was acquired last year by BRDB Developments Sdn Bhd from Selangor Properties Bhd. While the sale price was undisclosed, industry experts estimated it to be between RM320 million and RM470 million, translating into more than RM800 psf. BRDB has announced plans to redevelop the nearly eight-acre site into a mixed-use development, comprising residential, retail and community spaces. 

Save by subscribing to us for your print and/or digital copy.

P/S: The Edge is also available on Apple's App Store and Android's Google Play.