Piling specialist Econpile Holdings Bhd has bagged a RM24.6 million contract from Berjaya Construction Bhd to undertake sub-structure work for a proposed 41-storey block of service suites in Jalan Imbi here.
This is the second abandoned project that the company has taken over there.
YNH Property Bhd proposes an asset-backed securitisation exercise to raise up to RM500 million fresh capital, seven months after it issued Islamic sukuk to raise RM323 million.
These properties have a total gross floor area of 256,828 sq ft and are located in AME Elite’s industrial parks.
The first transaction involved 1.06 million shares.
It may be challenging for older office buildings in the Klang Valley, which have been left vacant as their owners or tenants move to newer developments, to be filled up, as more new office buildings spring up and more companies move out of the older buildings, said experts in the property sector.
Menara Maybank appears to have an advantage over its fellow older buildings in terms of securing tenants in the Klang Valley when owner Malayan Banking Bhd (Maybank) moves its head office to Merdeka 118 in 2025.
The property sector has shown signs of recovery in the first half of this year (1H2022) as the economy reopened, but office and retail segments remained challenging amid a supply glut, according to the National Property Information Centre's (Napic) semi-annual report.
It is not immediately clear if Zainal Iskandar, 48, is retaining his CEO position.
Fitters Diversified Bhd is divesting 18.97-hectare agriculture land with residential development potential in Rawang for RM36 million.
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