OCS Group confirms joint venture deal with £8bn Malaysian investment fund
International facilities services provider, OCS Group, has signed a UK joint venture agreement with THP Sinar the property management arm of Tabung Haji, the Malaysian investment fund which has over £8bn of assets under management.
Under the terms of the deal, the new joint venture will provide building management and facilities services for the growing portfolio of UK assets owned by Tabung Haji, as well as developing new business to manage other Malaysian-owned buildings in the UK.
Tabung Haji has reportedly invested around £370m in UK property assets in the last 18 months. The London portfolio comprises the City offices of law firm SJ Berwin at 10 Queen Victoria Street EC4, which Tabung Haji acquired in September 2012 and 151 Buckingham Palace Road SW1 purchased in 2013.
“In the premium office market of London, occupiers’ expectations of their facilities are going up all the time. Properties are getting more complex and the technology component of building management and security systems is increasing. In order to support Tabung Haji we have joined up with OCS to provide a complete facilities services solution” said Dato Azizan Abdul Rahman, Chairman of TH Properties.
OCS says that this new joint venture in the premium property sector is part of a broader strategy to expand the scope of the services it offers to property owners and building operators.
“OCS has been providing property services for over 100 years and we understand the needs of high grade property owners and their clients. For large and sophisticated Malaysian landlords like Tabung Haji, OCS, together with THP Sinar, is able to offer a single point of contact and ensure reliability and consistency of service across their estate. OCS Group has over 25 years of experience in the ASEAN region and we are delighted to be working with such a prestigious partner as Tabung Haji back in the UK,” said Martin Gammon, chief executive officer, UK and Europe, for OCS.
About Tabung Haji
Lembaga Tabung Haji (Pilgrims Fund Board) is a Malaysian statutory body responsible for the management of the annual Haj pilgrimage. It manages depositors’ funds with an investment size of £8 billion and achieves its growth objectives through the use of Shariah-compliant investment vehicles.
The TH Properties Group is an integrated group focusing on property development, construction and facilities management, wholly owned by Lembaga Tabung Haji. It’s projects in hand exceed £200 million in value.
THP Sinar is the property and facilties management arm, and manages the Tabung Haji property portfolio in Malaysia, and other buildings, hospitals and hotels in Malaysia.