Mindef lost RM258m in land swap deal with Syed Mokhtar — sources

KUALA LUMPUR (Feb 22): The Ministry of Defence (Mindef) allegedly lost RM258 million by selling the Royal Malaysian Air Force base in Kinrara, Puchong at a 34% discount to tycoon Tan Sri Syed Mokhtar Albukhary in a politically motivated land swap deal, said sources contacted by The Edge Financial Daily yesterday.

READ MORE

Medical tourism supporting Penang’s hotel sector

KUALA LUMPUR (Feb 21): Medical tourism will continue to support the growth of Penang’s hotel property sector which could also create multiplier effects on the northern region’s economy, said CBRE|WTW Penang branch director Peh Seng Yee.

READ MORE

DONE DEAL: Industrial land, Kundang, Selangor

Sold for: RM6 million (RM90 psf) Concluded by: Desmond Chia (REN 19255) of Hartamas Real Estate OUG Sdn Bhd (012-987 9117) When: November 2018 Noteworthy: ● land size: 6,266 sq m (about 67,446 sq ft) ● Freehold industrial land ● Flat and empty land ● 10 minutes to NKVE interchange According to Desmond Chia, the real estate negotiator who closed the deal, the seller has owned the land for 10 years and decided to unlock its value by selling it.

READ MORE