News about MIA

Jorge Perez, the chief executive officer of Related Group, one of Miami’s largest builders, told the WSJ that he “passed” on the deal because Genting wanted the whole acquisition price upfront rather than in stages.

On Thursday (June 22) morning, GenM disclosed that the purchaser, Smart Miami City LLC, had decided to end its current bid after requesting an extension of the exclusivity period and amendments to the commercial terms of the Sale and Purchase Agreement — requests that GenM chose not to grant.

“GenM has seen the value of its investment in Miami increase approximately 400% in just over a decade, and firmly believes in the sustained strength and growth of the Miami market.

In a note, Nomura analysts Tushar Mohata and Alpa Aggarwal said the sale was a very positive development for the company and its parent, Genting Bhd.

Genting Malaysia said the Miami Herald land is close to the commercial, residential and shopping areas in Miami, Florida, and is located directly across the street from the Adrienne Arsht Center for the Performing Arts of Miami-Dade County, one of the largest performing arts centres in the US.

Located on Allison Island, the 10,632-sq ft property has 110ft of water frontage and “stellar views of the palm-lined Miami shore”.

PUTRAJAYA (June 3): A three-member Court of Appeal (CoA) today allowed the appeal by the Kelantan government and ruled that the federal government has no legal standing to act for the Temiar Orang Asli tribe over its purported customary land in Pos Simpor, Gua Musang.

KUALA LUMPUR (Oct 21): The Miami-Dade Board of County Commissioners in the US state of Florida has approved an interim contract of up to US$14 million (about RM58.

KUALA LUMPUR (May 21): Miami-Dade commissioners have warned that they wanted a final plan for a cheaper price tag than the current US$59 million yearly tab for the Miami-South Beach monorail system, according to the Miami Herald.

KUALA LUMPUR (May 15): The Genting Group wants Miami-Dade to fund a US$770 million (RM3.