China Evergrande will sell its interest in Crystal City Project for 3.66 billion yuan (US$575.45 million), according to a Hong Kong Stock Exchange filing on Wednesday, as the group’s liquidity issues dampen the progress of its projects. The embattled developer plans to dispose of the state-owned construction land-use right for its under-construction Crystal City Project...
Read morePETALING JAYA (March 29): Malaysia Grand Bazaar (MGB) which is Kuala Lumpur’s first artisanal mall and part of Bukit Bintang City Centre (BBCC) urban regeneration project will open its doors on March 31, 2022. With 100,000 sq ft, the artisanal mall has been developed to pay homage to Malaysian creators and crafters. The mall has...
Read moreThe Queen’s Wharf Brisbane integrated casino and resort complex, backed by a pair of Hong Kong heavyweights including Malaysian billionaire Tan Sri David Chiu’s the Far East Consortium, is set to open gradually beginning in mid-2023 and transform Brisbane’s riverfront. Far East’s partner in the A$3.6 billion complex is New World Development chairman Henry Cheng’s...
Read moreKUALA LUMPUR (March 28): AME Elite Consortium Bhd has obtained the approval from the Securities Commission Malaysia (SC) for the proposed establishment and listing of an industrial real estate investment trust (REIT), AME REIT, on the Bursa Malaysia Main Market. AME REIT, an Islamic REIT on the Main Market, will have an initial fund size...
Read moreKUALA LUMPUR (March 28): Tile manufacturer cum property developer Seacera Group Bhd is partnering Ikhlas Al Dain Sdn Bhd, the indirect wholly owned unit of Mlabs Systems Bhd, to develop holiday villas in Kemaman, Terengganu that will have an estimated gross development value (GDV) of RM156.46 million. In a bourse filing, Seacera said it on...
Read moreDATA centre (DC) real estate investment trusts (REITs) invest in facilities that store servers and other data-based equipment. To be both secure and reliable for the companies that rely on them, these data centres are required to have dependable power sources, top-notch security and state-of-the-art cooling equipment. While DCs are a relatively newer asset class,...
Read moreSelangor Mentri Besar Datuk Seri Amirudin Shari is optimistic that the upcoming East Coast Rail Link (ECRL) project will bring economic development to the state’s northern part, such as Serendah and Batang Kali. “The ECRL’s northern alignment will turn Serendah into a rail transportation hub,” he said. The ECRL project, which will include construction of...
Read moreThe KL Wellness City mega project in Bukit Jalil, Kuala Lumpur, is envisioned as a world-class medical and wellness township with a gross development value (GDV) of nearly RM12 billion. According to Datuk Dr. Colin Lee, managing director of KL Wellness City Sdn Bhd (KLWC), the 10.73-hectare development will be the first in Southeast Asia...
Read moreAmendments to the Strata Titles Act 1985 (Act 318) are being drafted to address the issue of dilapidated buildings in the country, said Housing and Local Government Minister Datuk Seri Reezal Merican Naina Merican. He said the amendment involved consent by unit owners, as well as procedure for the termination of strata scheme, to allow...
Read moreKUALA LUMPUR (March 22): The Federal Land Development Authority (Felda), which owns 62.3% of Encorp Bhd, has entered into a joint-venture (JV) agreement with the latter to jointly complete the development of a project involving low- and medium-cost housing for Felda settlers in Chuping, Perlis for an estimated total cost of RM57.32 million. In a...
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