News by Shawn Ng

Many people think that their well-renovated homes which are secured with window grilles are a safe sanctuary for them to live in, but they may not realise that the fancy renovations and fixed grilles can kill them under certain circumstances.

The property developer has entered into a conditional sale and purchase agreement with PNB subsidiary Seriemas Development Sdn Bhd to acquire the land for the purchase price of approximately RM447.58 million, plus a share of the future profit before taxation from the development of the land, up to a maximum of RM3 psf.

S P Setia Bhd, Permodalan Nasional Bhd (PNB) and Amanahraya Trustees Bhd (as trustee for Amanah Saham Bumiputera) have entered into a non-binding Memorandum of Intent to commence negotiations on the proposed acquisition of I&P Group Sdn Bhd by S P Setia.

Sold for: RM2.46 million (RM1,277 psf); Concluded by: Chris Lee (REN 11554) of Prestige Realty Sdn Bhd (010-899 8303); When: November 2016

US-based Horizon Group Properties (HGP) expects the Horizon Village Outlets in Sepang, Selangor to attract 10 million visitors within 12 months after it opens in mid-2018, said its managing director of international business, David Nelson.

VGH said the acquisition sees the company gaining control of B.I.G.’s chain of grocery outlets.

Property developers have to come up with relevant products that meet the expectations of millennials, said Triterra Metropolis Sdn Bhd (Triterra) joint chairman Datuk Seri Michael Yam at a press conference after the signing ceremony between Triterra and Naza TTDI Sdn Bhd today.

Naza TTDI Sdn Bhd has forged a strategic partnership with Triterra Metropolis Sdn Bhd (Triterra) to kick-start an office development dubbed The MET Corporate Towers at the 75.5-acre KL Metropolis in Jalan Duta, Kuala Lumpur.

To be called Yarra One, it will have an estimated gross development value (GDV) of A$218 million (RM728.3 million).

There are several ways property owners can keep their property managers on their toes to ensure their property is well-managed, said Malaysian Institute of Professional Property Managers (MIPPM) president Sarkunan Subramaniam.