‘Renaissance KL deal likely to be sealed this week’
Details about the deal remains sketchy, but The Edge Financial Daily has learnt that the hotel will likely be sold at RM765 million or RM840,659 per room.
More shopping centres to go on sale
With saturation and lower retail sales, the number of shopping centres that have been put up for sale or have been sold has been visibly higher over the past nine months. And this trend is expected to continue.
Mammoth Empire plans bonds to raise working capital
Mammoth Empire Holdings Sdn Bhd, the property developer and asset manager behind Empire Shopping Gallery in Subang, Selangor, plans to raise funds through a maiden issue of bonds.
Concorde KL to be demolished to unlock land value
Long-established Concorde Hotel Kuala Lumpur — which is linked to Sultan of Selangor Sultan Sharafuddin Idris Shah, entrepreneur Tan Sri Syed Yusof Syed Nasir and Singaporean tycoon Ong Beng Seng — may be torn down to make way for a multibillion-ringgit integrated project, documents show.
Buyer for land near palace?
All eyes on the price tag MoF could fetch amid property market slowdown.
Berjaya Assets is seller of Imbi land
Tan Sri Vincent Tan Chee Yioun’s Berjaya Assets Bhd is looking at a potential sale of a freehold land in Imbi for some RM130 million. Measuring 41,990 sq ft, the land, located next to the integrated Berjaya Times Square commercial development, was acquired 22 years ago.
Mammoth to sell Empire Shopping Gallery at the right price
Property developer cum owner and operator of hotels and malls Mammoth Empire Holdings Sdn Bhd (MEH) is ready to divest Empire Shopping Gallery in Subang Jaya, Selangor, should it receive a desirable and concrete offer.
UOL to expand Malaysian hospitality portfolio
Singapore-listed property firm UOL Group Ltd, which owns and operates the Parkroyal and Pan Pacific brands, will see its hospitality portfolio in Malaysia grow in the next two to three years as it adds two new hotels and expands an existing hotel asset in Kuala Lumpur.
IGB Corp in talks to sell Renaissance KL
Established property company and hotelier, IGB Corp Bhd, is believed to be in talks to dispose of its 20-year-old, 910-room Renaissance Kuala Lumpur hotel to a little-known Singapore company for just below RM800 million. Should the deal materialise, it would create history as the country’s most expensive hotel transaction.
Tabung Haji drops office rents below prevailing rates near KLCC
A recent move by Lembaga Tabung Haji to lease its office space in Menara TH Platinum at Platinum Park, Kuala Lumpur, at way below market rental rates caught everyone by surprise and shocked real estate agents and office building owners. At RM5 psf, the rate is less than half that — about RM11 psf — fetched by Petronas Tower 3 and Integra Tower @ The Intermark, which are located nearby.
