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The transaction was executed via Dynamic Gates Sdn Bhd, a special purpose vehicle formed under Paramount Corporation Bhd’s earlier securitisation exercise, and the group plans to develop a high-rise project on the site as part of its broader expansion strategy in the Northern Region.

Mah Sing said it believes the land price is reasonable given its prime location, potential gross development value, and contribution to expanding the group’s presence in Penang.

SIDSB, which is developing a 1,300-acre mixed-use area in Pendas as part of Sunway City Iskandar Puteri (SCIP), lodged the programme with the Securities Commission of Malaysia.

The five-star hotel is the first component to open at KL Midtown, which will also feature 500,000 sq ft of retail space, signature and corporate towers and residential apartments.

Held in conjunction with the International Architecture, Interior Design and Building Exhibition (Archidex) 2025, the week-long initiative is themed “Reviving the City’s Heartbeat”, aiming to transform old Kuala Lumpur into a walkable showcase of public installations, design trails, sketching sessions and curated food stops.

Hotel facilities include 16 function rooms that feature a pillarless ballroom, to cater to various functions like weddings, conferences and meetings.

Blueprint for Wellness is a special edition from EdgeProp Malaysia that highlights developments that are leading the way in health-oriented designs across the nation.

The group said this in a bourse filing as it reported a 38.

In recent years, the Penang Turf Club has signalled its intent to sell its land, potentially fetching up to RM6 billion.

Facilities in the hotel include lounge areas, co-working spaces and event spaces for community gatherings, pop-up events and creative workshops.