KUALA LUMPUR (Dec 19): Sunway Real Estate Investment Trust’s (Sunway REIT) trustee RHB Trustees Bhd has inked a conditional sale and purchase agreement with Best Corridor Venture Sdn Bhd to acquire an industrial property in Prai, Penang, for RM66.8 million. In a statement, Sunway REIT said the property is located on land spanning 4.21 hectares with...
Read moreKUALA LUMPUR (Dec 19): Majuperak Holdings Bhd is disposing of 2.01 acres of land in Ipoh to a wholly-owned unit of the Perak State Agriculture Development Corporation (PPPNP) for RM18.4 million as part of its business regularization plan. Majuperak, a 51.41%-owned subsidiary of the Perak State Development Corp, said its wholly-owned subsidiary, Syarikat Majuperak Bhd,...
Read moreThis article first appeared in The Edge Malaysia Weekly on December 11, 2023 – December 17, 2023 IOI Properties Bhd signed a sale and purchase agreement last week to buy W Kuala Lumpur from Tropicana Corp Bhd for RM270 million. However, the two companies have yet to end talks as two more assets have been...
Read moreKUALA LUMPUR (Dec 15): SkyWorld Development Bhd is collaborating with Universiti Malaya (UM) through a memorandum of agreement (MOA) to develop an Application Programming Interface (API) that will revolutionise the data integration ecosystem within the property development sector, according to a press statement issued on Thursday (Dec 14). The MOA outlines a two-year (1Q2024 until 4Q2025) collaboration...
Read moreSINGAPORE (Dec 11): Malaysia-headquartered property company United Overseas Australia (UOA) said on Monday its Vietnamese unit had inked a joint-venture (JV) agreement with CapitaLand (Vietnam) Holdings for a US$247.1 million (RM1.16 billion) property project. Under the deal, UOA Vietnam BDC will hold a 30% stake in the JV entity, with CapitaLand (Vietnam) holding the remaining 70%,...
Read moreKUALA LUMPUR (Dec 13): S P Setia Bhd is partnering with Mitsui Fudosan (Asia) Malaysia Sdn Bhd, which operates the Mitsui Outlet Park KLIA, in a joint venture to develop two parcels of commercial land measuring 2.67 acres in Setia Federal Hill, Bangsar. The development, which has an estimated gross development value (GDV) of RM1.4...
Read moreCenturion has entered into sale and leaseback agreements with Kumpulan Wang Persaraan (Diperbadankan) or KWAP, Malaysia’s public sector pension fund. The agreements involve two of Centurion’s Malaysia assets, Westlite Bukit Minyak and Westlite Tampoi. On Dec 4, Centurion announced that its indirect wholly-owned subsidiaries, Westlite Dormitory (Bukit Minyak) Sdn. Bhd. and Westlite Dormitory (Tampoi) Sdn....
Read moreKUALA LUMPUR (Dec 8): Axis Real Estate Investment Trust (Axis-REIT) has proposed to acquire a two-storey shopping mall in Temerloh, Pahang, for RM25.75 million cash. The REIT said the acquisition of Temerloh Mall in Taman Damai, from Amal Mewah Development Sdn Bhd, will be funded by its existing bank financing. The freehold property with a...
Read moreKUALA LUMPUR (Dec 6): Property developer IOI Properties Group Bhd plans to acquire five-star hotel W Kuala Lumpur (W KL) in Jalan Ampang, Kuala Lumpur for RM270 million, cash, from property group Tropicana Corp Bhd. IOI Properties, via its indirect subsidiaries IOI PFCC Hotel Sdn Bhd and Flora Development Sdn Bhd, has signed a sale and purchase agreement...
Read moreKUANTAN (Dec 6): The Pahang government, through the State Economic Planning Division, is in the process of acquiring the site for the Pulau Tioman Airport upgrading project, which involves extending the runway from 850 metres to 1.3 kilometres. State Public Works, Transport, Health and Local Government Committee chairman Datuk Mohammad Fakhruddin Mohd Ariff told the state assembly...
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