Sunway and Hoi Hup awarded 2ha land in Singapore for S$423mil housing development

KUALA LUMPUR: Sunway Bhd’s unit and Singapore-based Hoi Hup Pte Ltd, have been awarded a 2-hectare land to develop a 99-year lease term executive condominium housing development worth S$423.38 million in Tengah, Singapore by the Housing and Development Board of Singapore. Sunway’s subsidiary, Sunway Developments Pte Ltd (SDPL)  and Hoi Hup jointly tendered for the...

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UOA, CapitaLand ink JV for US$247m property project in Vietnam

SINGAPORE (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%,...

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Centurion disposes of two Malaysian assets for RM227 mil

Centurion 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....

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China’s property lifeline exposes banks to big losses, job cuts

(Nov 28): China’s escalating push to have its banking behemoths backstop struggling property firms is adding to a maelstrom of woes for the US$57 trillion (RM266.33 trillion) sector. Already stung by soaring bad loans and record low net interest margins, lenders such as Industrial and Commercial Bank of China Ltd (ICBC) may soon be asked...

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Sunway unit wins Singapore land tender for condo project worth RM1.2bil

PETALING JAYA: Sunway Bhd’s Singapore subsidiary Sunway Developments Pte Ltd (SDPL) has won the tender for a land parcel at Tengah Plantation Close, Singapore, together with Hoi Hup Realty Pte Ltd, for an executive condominium housing development with a bid of S$348.5 million (RM1.2 billion). The project was awarded by Singapore’s Housing and Development Board...

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Mitbana and Intiland launch township development in Tangerang, Indonesia

SINGAPORE (EDGEPROP) – Mitbana – a joint venture between Mitsubishi Corp and Surbana Jurong – together with Indonesian property developer Intiland Development, has launched Green Bestari Park, an integrated township and transit oriented development located in Talaga Bestari in Tangerang, within Indonesia’s Greater Jakarta area. Mitbana holds a 70% stake in Inti Mitbana Development, a...

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SkyWorld Viet job marks firm’s overseas foray

PETALING JAYA: SkyWorld Development Bhd is seeking to develop a 24-storey residential apartment in Vietnam, marking its first overseas venture, to ride on the urbanisation in Vietnam. Yesterday, the property developer’s wholly-owned subsidiary SkyWorld Development (Vietnam) Co Ltd (SkyWorld Vietnam) proposed to acquire 1.3 acres of land in Ho Chi Minh City for RM67.9mil cash...

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