KUALA LUMPUR: Sunway Real Estate Investment Trust (Sunway REIT) plans to acquire Sunway Hotel Georgetown and Wisma Sunway office building for a combined RM134 million from subsidiaries of Sunway Bhd.

In a filing with Bursa Malaysia yesterday, Sunway REIT will be paying RM74 million for Sunway Hotel Georgetown, Penang — a 4-star, 250-room hotel located in Penang.

KUALA LUMPUR (Dec 8): Datuk Kamaluddin Abdullah, son of former prime minister Tun Abdullah Ahmad Badawi, and businessman Datuk Mazlin Md Junid have launched a mandatory takeover offer of property firm Perduren (M) Bhd, controlled by Tan Sri Law Tien Seng, for the remaining 30.7% they do not own.

KUALA LUMPUR: KSL Holdings Bhd is set to end the year with a record high net profit, and its executive chairman Ku Hwa Seng is confident of breaking another record next year.

KUALA LUMPUR: Capital Trend Asia Sdn Bhd (CTA) expects 2.5 million visitors a year to its first retail development, Amerin Mall, in Balakong, Selangor upon completion in 2016.

SINGAPORE: Asians and UK buyers tied as the third-largest buyers in central London, according to Black Brick Property Solutions LLP.

Out of 35 nationalities, Africans formed the majority of buyers at 43.7%, followed by Middle-Eastern buyers at 17.1%, Asians and the UK (10% each).

KUALA LUMPUR: Property developers United Malayan Land Bhd (UM Land) and Mah Sing Group Bhd took home five and three awards respectively at The Malaysian Reserve Property Press Awards (MRPPA) 2014 last Friday. The award was held to recognise exemplary players in the Malaysian property industry.

KUALA LUMPUR: Australian property developer Crown Group achieved total sales of A$173.1 million (RM501.6 million) or 95% of its 220-unit Sydney by Crown apartments during its same-day local and overseas sales launch on Nov 22.

The success of the launch reflects the growing demand for high-end properties in Sydney, said Crown Group chief executive officer Iwan Sunito.

KUALA LUMPUR: UK property developer Berkeley Homes has brought its Waterfront I development in London to Malaysia. Its marketing agent, Knight Frank Malaysia, has been showcasing the development on a private appointment basis starting Monday.

LONDON: British Finance Minister George Osborne on Wednesday said he will cut a tax on nearly all property purchases, removing a long-standing grievance of homebuyers five months before an election.

KUALA LUMPUR: Magna Prima Bhd is postponing its RM1.8 billion mixed development called Iconic Towers on the Lai Meng school land on Jalan Ampang here by a year to make way for two other upcoming projects, said its chief executive officer Datuk Rahadian Mahmud Mohammad Khalil.