The proposed Bandar Malaysia real estate project is on a 194ha (486 acre/21.17 million sq ft) tract within the old airport site in Sungai Besi here.

Malaysian Resources Corp Bhd (MRCB) said its major shareholders Employees Provident Fund (EPF) and Gapurna Sdn Bhd (GSB) will avoid triggering any mandatory general offer (MGO) while they apply for excess rights shares and warrants under the group’s cash call exercise.

For the acquisition, S P Setia is proposing a cash call plus private placement to raise the required funding.

Sold for: RM690,000 (RM653 psf); Concluded by: Teoh Peng Peng (PV1436) of Hartamas Real Estate Sdn Bhd (018-206 7122); When: March 2017

The Edge Property has garnered US$4 million (RM17.16 million) funding from various prominent investors.

Country Garden Pacificview announced on June 20 that the US$280 million (S$389.3 million or RM1.2 billion) Stage 2 development of Forest City in Iskandar Malaysia, Johor, is on track.

Jaks Resources Bhd, whose profitability was dragged down by its loss-making property division in the financial year ended Dec 31, 2016 (FY16) and first quarter ended March 31, 2017 (1QFY17), said it would take some time for the division to start bearing profits.

Wanda Group had in May this year been reported to have expressed "desire" to participate in the Bandar Malaysia development.

The 50:50 joint venture submitted the highest bid of S$1.132 billion (RM3.49 billion) for the 99-year leasehold land located next to Woodleigh MRT Station.

The group has in hand, eight property projects split between Melaka, Pahang, Selangor, Kuala Lumpur and Negeri Sembilan.