KUALA LUMPUR: Sime Darby Property Bhd has signed a new build-and-lease agreement with Pearl Computing Malaysia Sdn Bhd, a wholly-owned subsidiary of a multinational technology company, to develop additional data centre facilities. In a statement, Sime Darby Property said the data centre facilities will be developed to meet customised specifications and infrastructure requirements, on a 77-acre site...
Read moreKUALA LUMPUR: Capitaland Malaysia Trust (CLMT) is acquiring a freehold automated logistics property in Elmina Business Park, Selangor, from PTT Logistics Hub 1 Sdn Bhd, for RM180mil. In a statement, CLMT said the acquisition is expected to contribute positively to its income with the Elmina Logistics Hub expected to generate an annual gross rent of RM12.3mil with...
Read moreKUALA LUMPUR: The Crowne Plaza Penang Straits City, the inaugural project within the RM3 billion Straits City Future City waterfront development, has officially opened in Penang, marking the debut of the Crowne Plaza brand in the state. Introduced by global hospitality leader IHG Hotels & Resorts, the RM250 million hotel adds a new dimension to...
Read moreKUALA LUMPUR: Eastern & Oriental Bhd (E&O) is open to collaborating with potential joint venture partners to develop its Andaman Island project in Penang, said group managing director Kok Tuck Cheong. He said the project on the artificial island has a gross development value (GDV) of RM60 billion and is projected to take approximately 30...
Read moreKUALA LUMPUR; IJM Corporation Berhad has proposed to acquire a 50 per cent stake in JRL Group Holdings Ltd for £50 million (about RM283 million) for further expansion into the United Kingdom’s (UK) construction sector. Datuk Lee Chun Fai, group chief executive officer and managing director (MD) of IJM, said, “This investment is a strategic...
Read moreKUALA LUMPUR (Nov 25): Radium Development Bhd, through its indirect wholly-owned subsidiary Radium J Velodrome Sdn Bhd, has entered into a conditional sale and purchase agreement to acquire three parcels of contiguous leasehold land in Cheras for RM458 million. According to a media release by Radium, the land is within a transit-oriented development (TOD) zone...
Read moreLand disposals worth over RM1bil have led to a surge in S P Setia Bhd’s pre-tax profit by 2.3 times year-on-year to RM853mil in the nine months ended Sept 30, 2024 (9M24). In the period, the property developer sold land in Glengowrie, Semenyih; Taman Pelangi Indah, Johor Baru and Setia Alam, Shah Alam that yielded...
Read moreBANGKOK: Buyers from Myanmar have been snapping up condominiums in Bangkok and other parts of Thailand, providing a bright spark for the kingdom’s sluggish real-estate market, as they look to move money out of an economy battered by civil war. Thai condominium unit sales to Myanmar nationals in the first nine months of 2024 tripled...
Read moreSunway Property is set to expand the 1,350-acre Sunway City Ipoh township in Perak with an additional RM4 billion in investments, leveraging its unique build-own-operate business model. Chong Sau Min, chief executive officer for the central and northern regions, said that this strategy aligns with the company’s role as a master community developer and co-investor...
Read moreKUALA LUMPUR (Nov 19): Matrix Concepts Holdings Bhd’s (KL:MATRIX) Levia Residence condominium in Cheras has achieved a take-up rate of 70% since its official launch in January, according to a press statement on Tuesday. Spread across a 4.7-acre tract and with a gross development value of RM522 million, Levia Residence offers two 36-storey towers, consisting...
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