Sar Sau Yee

Partner
Head, Real Estate

Key Practices

Qualifications

  • Professional education from the Council of Legal Education (Inns of Court School of Law) in England
  • Barrister-at-Law, Lincoln’s Inn
  • Advocate & Solicitor, High Court of Malaya

Sau Yee’s area of practice includes acquisitions and disposals of real property, share sale and purchase of real property companies, subscription and shareholders’ agreements for property-based companies, joint ventures for property developments, joint development agreements for real property, development rights agreements, privatisation agreements for real property, and commercial leases.

Shareholders’ Agreements (Joint-Ventures)

  • Shareholders’ Agreement - Battersea Power Station site, London

In the year 2012, acted for S P Setia Berhad, one of the 3 ultimate shareholders of Battersea Project Land Company Limited, a Jersey-incorporated company that acquired the Battersea Power Station site in London, England for a cost of £400 million. Advised S P Setia Berhad in respect of the Shareholders’ Agreement made amongst the ultimate shareholders (the other such shareholders being Sime Darby Berhad and The Employees Provident Fund Board of Malaysia). S P Setia Berhad is one of the largest property developers listed on the Main Market of the Malaysian Stock Exchange.

  • Shareholders’ Agreement - BBCC Development Sdn Bhd

In the year 2015, advised Eco World Development Group Berhad, another large property developer listed on the Main Market of the Malaysian Stock Exchange, in respect of a subscription and shareholders’ agreement with UDA Holdings Berhad (“UDA”) and The Employees Provident Fund Board (“EPF”) pursuant to which Eco World, UDA and EPF agreed to invest and fund and BBCC Development Sdn Bhd as the vehicle to undertake the joint development of a piece of land in the city of Kuala Lumpur, measuring approximately 78,485.73 square metres or 19.4 acres (“Said Land”).

  • Shareholders’ Agreement - MFBBCC Retail Mall Sdn Bhd

Advised Eco World in the year 2016 in the joint-venture agreement (“JVA”) between Eco World Development Group Berhad, UDA Retail Sdn Bhd (“UDACo”, a wholly-owned subsidiary of UDA Holdings Berhad), Naungan Sentosa Sdn Bhd (“EPFCo”, a wholly-owned subsidiary of The Employees Provident Fund Board), Retail Investment Two Pte Ltd (“MFACo”, a wholly-owned subsidiary of Mitsui Fudosan (Asia) Pte Ltd) in respect of the joint-venture company known as MFBBCC Retail Mall Sdn Bhd for the purpose of the acquisition of strata space for the construction of a retail mall.

Joint-Developments and Development Rights

  • Joint Development Agreement - BBCC Development Sdn Bhd

Advised BBCC who entered into a joint-development agreement with UDA (“JDA”) to develop the Said Land into a mixed residential and commercial development comprising, amongst others, a retail mall, an entertainment block, strata offices, office towers, a hotel and serviced residences (“Development”). Pursuant to the JDA, UDA, being the owner of the Said Land, has granted to BBCC the development rights to carry out the Development for a total consideration of approximately RM1.013 billion.

  • Development Rights Agreement - Eco World Development Group Berhad

Acted for Eco World Development Group Berhad (“Eco World”) in the year 2014 in its acquisitions of (a) 2 companies from Eco World Development Sdn Bhd and (b) the development rights of 8 projects with a combined GDV of RM30 billion from subsidiaries of Eco World Development Sdn Bhd, for a total net consideration of RM1.78 billion.

Disposals and Acquisitions

  • Disposal of Strata Space for Retail Mall

Advised BBCC Development Sdn Bhd (“BBCC”) in its disposal of the spaces and areas, above and under, in and through part of the land within the development known as BBCC Project to MFBBCC Retail Mall Sdn Bhd, for a consideration of RM472,482,500, within which a retail mall with an estimated gross floor area of 1,349,950 square feet together with 2,400 car-park bays have been constructed by MFBBCC Retail Mall Sdn Bhd.

  • Acquisition of Properties

Represented Paramount Property (Cityview) Sdn Bhd (PPCV), a wholly-owned subsidiary of Paramount Corporation Berhad, a property developer listed on the Main Market of the Malaysian stock exchange, who has, on 16 July 2020, entered into the sale and purchase agreements in respect of 2 contiguous properties for a total consideration of RM243,800,000.00 from 2 Malaysian subsidiaries of Wing Tai Holdings Limited (Singapore).

After the completion of the said acquisitions, PPCV intends to re-develop the properties into a premium high-rise residential development consisting of approximately 650 units of condominiums for sale, with a projected gross development value of RM863,000,000 to be generated from the proposed development over a period of five years.

  • Acquisition of Development Land

Represented CLM ISLE INVESTMENT PTE LTD, a subsidiary of CapitaLand Limited, Singapore, in its joint-venture with 2 other companies for the acquisition of development land in Johor Baru, Malaysia for a total consideration of RM810,871,200. For this transaction, we also advised the joint-venture company in its capacity as purchaser of the said development land.

Asialaw Leading Lawyers (2014 – 2016)

Construction and Real Estate – Leading Lawyer

Head of the real estate practice, Sar Sau Yee, is described as “very hands on and turns around a draft very quickly.” One client adds: “With Ms Sar advising the client, we can be assured that our interest is protected.” – Asialaw Profiles 2015

Market-leading lawyer “Sau Yee Sar is pragmatic [and] able to provide practical solution[s] to almost any situations within just a minute”, adds another client. – Asialaw Profiles 2018

Asialaw Leading Lawyers (2017 – 2019)

Construction and Real Estate – Market Leading Lawyer

The Legal 500 Asia-Pacific (2009 - 2020)

Real Estate and Construction – Recommended Lawyer

At Shearn Delamore & Co, practice head Sar Sau Yee is ‘very experienced, and provides very practical advice on complex real estate matters’. - The Legal 500 Asia-Pacific 2015

Asialaw Leading Lawyers (2020 and 2021)

Real Estate – Distinguished Practitioner

Expert Guide (2019)

Real Estate – Leading Practitioner

Chambers Asia-Pacific (2020)

Real Estate – Spotlight Table

  • Member, Malaysian Bar
  • Member, International Bar Association (IBA)