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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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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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SkyWorld Development introduces Solution+ for home buyers

SkyWorld Development introduces Solution+ for home buyers

SkyWorld Development Group has launched Solution Plus (Solution+), Malaysia’s first ecosystem and enhanced e-commerce platform that connects SkyWorld homeowners and traders. According to its chief executive officer Lee Chee Seng, gone are the days whereby one needs to painstakingly search for contacts, recommendations, and price comparison for interior design, renovations, furniture, and other home solutions....

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Malaysia-UK collaboration set to drive smart cities

Malaysia-UK collaboration set to drive smart cities

Malaysian firms are collaborating with companies from the United Kingdom (UK) to offer smart cities solutions, develop innovative smart mobility projects, and help tackle transport challenges, following the Covid-19 pandemic. During the recent Virtual UK Smart Cities Mission to Malaysia, Metrobinaya Sdn Bhd and UK-based Interactive Coventry Ltd announced a partnership to provide smart cities...

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Elsoft to sell property in Penang for RM38m

Elsoft to sell property in Penang for RM38m

Elsoft Research Bhd is selling a property in Barat Daya, Penang for RM38 million, proceeds of which will be used for business expansion, a production facility, general working capital, and a special dividend. The group, via wholly-owned unit Siangtronics Technology Sdn Bhd, entered into an agreement with manufacturer of industrial equipment SRM Integration (Malaysia) Sdn...

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