KUALA LUMPUR: S P Setia Bhd said the privatisation agreement between its 50%-owned unit Setia Federal Hill Sdn Bhd (formerly Sentosa Jitra Sdn Bhd), the government and Syarikat Tanah dan Harta Sdn Bhd has become unconditional.

KUALA LUMPUR: PJ Development Holdings Bhd (PJD), through its 75%-owned subsidiary Yarra Park City Pte Ltd, has entered into a put and call option deed with an Australian developer for the purchase of a piece of freehold land measuring 2.026ha in Southbank, Melbourne for A$145 million (RM439.8 million) cash.

The proposed transaction works out to RM2,013 per sq ft.

HONG KONG: Citigroup Inc paid a record HK$5.4 billion (US$697 million or RM2.25 billion) to a unit of Wheelock & Co for a Hong Kong office tower that will bring most of its 5,000 employees in the city under one roof.

KUALA LUMPUR: Businessman Tan Sri Clement Hii, who in February emerged as a major shareholder of Golsta Synergy Bhd with a 27.27% stake, has plans for the company to enter the property market in the near future.

Today, Hii owns 52.21% of Golsta, whose principal business is in heavy machine manufacturing.

KUALA LUMPUR: Mitrajaya Holdings Bhd said it remains on track to meet its RM1.5 billion order book target for its construction division in its financial year ending Dec 31, 2014 (FY14).

Its outstanding order book currently stands at RM1.1 billion.

KUALA LUMPUR: GW Plastics Holdings Bhd, which is in the midst of a reverse takeover (RTO) by property developer MCT Consortium Bhd (MCTCB) for RM1.21 billion, said it does not expect the property market slowdown to have a material impact on its earnings post-reverse merger.

KUALA LUMPUR: Details of the 50-acre (20.23ha) development in Bukit Jalil, dubbed “Pavilion 2”, to be co-developed by Ho Hup Construction Co Bhd and Malton Bhd will be out by the third quarter of this year, according to Ho Hup’s management.

KUALA LUMPUR: Sunsuria Bhd has allowed to lapse the heads of agreement (HOA) in relation to the acquisition of property development assets in Selangor and Johor from its executive chairman and major shareholder Datuk Ter Leong Yap.

BUTTERWORTH: One of the last remaining urban villages by the sea, Kampung Bagan Ajam, will cease to exist soon. The 122 households in the village have been served with a notice by developer Tah Wah Assets Sdn Bhd asking them to vacate the homes built by their forefathers more than 80 years ago.

KUALA LUMPUR: Property developer Emkay Group, founded by Tan Sri Mustapha Kamal Abu Bakar, is expected to rake in RM1 billion in property sale transactions this year, driven by new launches and new phases of ongoing projects, said its chief operating officer Mazrita Mazlan.