News by M

IOI Properties Group Bhd is acquiring Mayang Development Sdn Bhd and Nusa Properties Sdn Bhd for RM1.58 billion from the Lee family, under a cash and share deal.

The federal government's Projek Rumah 1Malaysia (1Malaysia Housing Project) or PR1MA in Penang may see the take over of projects by other developers, Penang Federal Action Council chairman Datuk Seri Zainal Abidin Osman said today.

1MDB Real Estate Sdn Bhd (1MDBRE) yesterday awarded WCT Holdings Bhd a RM754.8 million contract to build infrastructure and roadway works for the Tun Razak Exchange (TRX).

East of Kuala Lumpur city, the Ampang municipality of Selangor is one of the Klang Valley’s oldest ’hoods . Many low-cost flats dot its housing estates while upmarket residences converge around Kelab Darul Ehsan golf course and along Jalan Ampang.

The gross revenue improved mainly due to the completion of the acquisition exercise of Tropicana City Mall and Office Tower, as well as higher rental at East Coast Mall following an asset enhancement exercise.

Chief Minister Incorporated (CMI) signed a Management Collaboration Agreement with the Aga Khan Trust for Culture (AKTC) and Think City Sdn Bhd today in Chantilly, France.

In a joint statement today, the Land Public Transport Commission (SPAD) and Singapore’s Land Transport Authority (LTA) said these companies and consortia come from across the HSR value chain and include entities based in Malaysia, Singapore, Asia-Pacific, Europe, the Middle East and North America.

Upon completion of the proposed disposal, Vintage Heights is expected to realise a net gain on disposal of approximately RM290 million. About RM116 million is expected to be attributable to Guocoland.

Company has land bank in Negeri Sembilan, Penang and in Kedah where it hopes to build a township.

Najib said the future developments of Kampung Baru would benefit the Malays with poor living standards, such as those living in squatter homes and underdeveloped areas.