KUALA LUMPUR (Sept 13): Mah Sing Group Bhd is disposing of 13,695 sq metres of freehold land in Georgetown, Penang for RM66.33 million cash. In a bourse filing yesterday, Mah Sing said its wholly-owned subsidiary Klassik Tropika Development Sdn Bhd is selling the plot located in Pykett Avenue to Morningjoy Sdn Bhd. It said the land was acquired...
Read moreKUALA LUMPUR: Property developer Tropicana Corporation Bhd has signed a hotel management agreement with Marriott International Inc to build a five-star 270-key Sheraton Langkawi Resort & Spa at Tropicana Cenang, Langkawi. Tropicana said the collaboration came as Langkawi saw increasing tourist and investor interest, with the potential to reach a pre-pandemic tourism peak of four...
Read moreKUALA LUMPUR (Oct 12): Sunway City Ipoh has a RM4 billion expansion plan to support the city’s sustainable socio-economic growth. Sunway City Ipoh executive director Wong Wan Wooi revealed this plan during a private buyer’s appreciation night held recently at Sunway Onsen Suites in Ipoh. Wong said that to date, Sunway City Ipoh is worth RM2 billion in gross development value,...
Read morePETALING JAYA: A new highway is being planned for 2024 which will serve as the missing link between the eastern and north traffic corridors of the Klang Valley, according to a works ministry official. Called the Kuala Lumpur Northern Dispersal Expressway (or KL Node), the highway is expected to ease congestion on the Middle Ring...
Read moreKEPALA BATAS: The Ministry of Housing and Local Government (KPKT) hopes its application for 100 per cent stamp duty exemption for ownership of first-time homeowners of properties priced above RM500,000 and RM1 million would be approved at the tabling of Budget 2023 next month. Its Minister, Datuk Seri Reezal Merican Naina Merican said that for...
Read morePETALING JAYA: Covid-19 has left property market players clueless about the supply and demand situation. The pandemic has totally disrupted market forces and distorted what should have been the norm, according to Real Estate and Housing Development Association (Rehda) acting president NK Tong. “As a result, it has made it difficult for us to decide...
Read morePUTRAJAYA: The most anticipated moment is finally here. IOI City Mall Phase 2 will be opening its doors to patrons on Aug 25. Strategically located at IOI Resort City, it enjoys a potential population catchment of 3.1 million from nearby townships in southern Klang Valley, namely, Putrajaya, Cyberjaya, Kajang, Bangi, Sepang, Puchong and Seri Kembangan....
Read moreAS the Oct 7 date for tabling the Budget 2023 in Parliament approaches, LBS Bina Group Bhd (LBS) has a wishlist that it hopes the Government will consider for the property sector. Although hailed as the year of recovery for many economies worldwide after two years of pandemic restrictions, 2022 is proving to be equally...
Read moreKUALA LUMPUR (Sept 29): Loss-making Nexgram Holdings Bhd is acquiring Wings By Croske Resort Langkawi for RM90 million, to be paid via issuance of redeemable convertible preference shares (RCPS) by its subsidiary Medic Asset Group Sdn Bhd (MAG). MAG will acquire the 218-room resort from its 80% shareholder Croske Hotels Sdn Bhd, and Flyboys Club...
Read moreHCK Capital Group Bhd (HCK) is to step in to revive the ailing Remix 1 project in USJ1 after its original developer True Renaissance Sdn Bhd which is a unit of Mammoth Empire Holding Sdn Bhd ran into financial difficulties. This move was overwhelmingly endorsed at a creditor’s meeting on Sept 29 where buyers holding...
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