KUALA LUMPUR (Jan 13): Selangor Dredging Bhd (KL:SDRED) is acquiring a freehold commercial land in Petaling Jaya for RM63 million to expand its land bank, with the site earmarked for a proposed development carrying an estimated gross development value (GDV) of RM507 million.
The hotel, formerly Eastin Hotel Kuala Lumpur, was sold by CP Group to a private vehicle linked to former investment banker Datuk Lim Kheng Yew, founder of KYM Holdings Bhd KUALA LUMPUR (Dec 29): Marriott Hotels, the flagship brand of Marriott Bonvoy, announced the opening of the 393-key Petaling Jaya Marriott Hotel.
“On the surface, this revenue-sharing scheme seems lopsided and demands further detailed disclosures,” they said, noting that Petaling Jaya alone is projected to face a revenue shortfall of around RM10 million under the proposed deal.
The property includes a two-storey factory, a three-storey office block, a two-storey warehouse, and a guardhouse, situated on approximately 6,182 sq m of land.
The rising rents could be a double-edged sword, on one hand signalling the appeal of the once-forgotten areas, but also threatening to price out those who jump-started the vitality.
Damansara Kim is well-located within Petaling Jaya, for both commercial and residential properties.
Asian Pac said the proposed acquisition aligns with its strategy to invest in retail malls, with the objective of increasing net property income.
Find out the y-o-y median transacted price movements of four of PJ’s most popular locales as of Oct 31, 2024 — based on EdgeProp Research and EPIQ platform.
DONE DEAL: Semidee, Bukit Damansara, Kuala Lumpur DONE DEAL: Terrace house, Ara Damansara, Selangor Our most recent data shows that average transacted prices for industrial properties in Petaling Jaya have increased by 67.
“You can’t buy everything you land on but be selective.
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