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 moreKOTA BHARU (Nov 27): The Madani government has allocated RM156 million for various development projects across Kelantan, said Housing and Local Government Minister Nga Kor Ming. Nga said the funding would support infrastructure improvements and public facility upgrades throughout the state, as part of the Sentuhan Kasih 2.0 tour in the state on Wednesday. “This...
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 moreGEORGETOWN: Rackson Group has unveiled a landmark RM1.5 billion gross development value (GDV) project in Bayan Lepas, featuring Le Meridien Penang Airport and Avion Serviced Apartments. Scheduled for completion by the fourth quarter of 2027, the project promises to transform the skyline near Penang International Airport (PIA). Rackson Group chief executive officer Kelvin Lor said the...
Read moreCYBERJAYA: The Selangor State Development Corp (PKNS) is set to launch 12 projects with a gross development value (GDV) of RM1.5bil next year, reflecting its commitment to advancing Selangor’s property market, says group chief executive officer Datuk Mahmud Abbas. Speaking at the PKNS Pilih Karnival at Selangor Cyber Valley (SCV) last Saturday, he said six...
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