IGB Real Estate Investment Trust (KL:IGBREIT) on Tuesday announced that it is planning to buy the Mid Valley Southkey Mall in Johor Bahru for RM2.65 billion in a cash-and-units deal, marking its maiden foray into Johor.
Hektar Real Estate Investment Trust (KL:HEKTAR) plans to acquire a 90% equity stake in Terramark Sdn Bhd, which owns a 197.76-acre leasehold land in Perlis earmarked for a private solar farm project.
UEM Sunrise Bhd (KL:UEMS) no longer plans to build a data centre at the 74-acre site of its botched Logos Infrastructure Holdco Pte Ltd deal, with officer-in-charge and chief financial officer Hafizuddin Sulaiman saying that it is in talks to sell the land.
UEM Sunrise Bhd (KL:UEMS) expects little impact from the expanded Sales and Service Tax (SST) as most of its new projects are residential and mostly exempt from the 6% tax on construction services, said its officer-in-charge and chief financial officer Hafizuddin Sulaiman.
Noteworthy:
When: January 2025
Putrajaya Corporation (PPj) president Datuk Fadlun Mak Ujud said the project is a federal government initiative following an in-depth study which identified an urgent need for affordable housing, particularly for civil servants.
Spanning approximately 43,000 sq ft, the new facility marks Harvey Norman’s first standalone, solar-powered outlet in Malaysia and is scheduled to open in October 2025.
The project, located at Lot 104295, Jalan Tiara in Taman Mutiara Bukit Jalil, was awarded by Sunway Flora Sdn Bhd.
The 600-acre site is located in SD Guthrie’s Sengkang Estate in the district of Port Dickson.
Biswas said Tuesday’s Court of Appeal decision does not follow the 2009 High Court decision that was upheld by the Court of Appeal and Federal Court—namely that the company "retains beneficial ownership of the land".
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