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China Evergrande to sell stake in Crystal City Project for US$575mil

China Evergrande to sell stake in Crystal City Project for US$575mil

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...

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Far East Consortium’s casino & resort complex in Brisbane will gradually open beginning mid next year

Far East Consortium’s casino & resort complex in Brisbane will gradually open beginning mid next year

The 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...

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AME Elite gets green light from SC for industrial REIT listing

AME Elite gets green light from SC for industrial REIT listing

KUALA 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...

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Can M’sia have its own data centre REITs?

Can M’sia have its own data centre REITs?

DATA 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,...

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Rail project to bring progress to northern S’gor

Rail project to bring progress to northern S’gor

Selangor 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...

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RM12 billion KL Wellness City set to spur medical tourism sector

RM12 billion KL Wellness City set to spur medical tourism sector

The 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...

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