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The upcoming development will feature 520 residential units, with an estimated gross sales value of RM492 million.

The company said the sale will not affect its ongoing project on the remaining land, which includes the development of eight factory buildings and a worker dormitory.

In a separate filing, Chin Hin stated the revocation and said the land would be sold to a new third-party buyer instead.

Cheng Kiat, 77, established Bina Puri in 1975 and has served on its board since Nov 5, 1990.

In a statement, the ministry also said that the building will be temporarily closed starting Thursday “in the interest of visitor safety and comfort, and to provide space for the new management to carry out maintenance and improvement works”.

The sale of the property to an investment firm, Airique Property Sdn Bhd, is expected to be completed by the third quarter of 2025, with an estimated net pro forma gain of RM4.

SkyWorld is buying the land, which could fit about 10 Olympic-sized swimming pools, from M S Tan Corporation Sdn Bhd, a wholly-owned subsidiary of MS Tan Holdings Sdn Bhd.

Datuk Amar Awang Tengah Ali Hasan, who is also the Minister for Natural Resources and Urban Development II and Minister for International Trade, Industry and Investment, said that surveying will only proceed once related cases have been withdrawn from court.

Seri Kembangan terrace house with limited units available | DONE DEAL Damansara Heights office unit with private lift rented | DONE DEAL Average transacted prices for landed residential properties in Bukit Damansara saw an increase of around 21.

Running from 10am to 6pm on April 19 and 20 at APW Bangsar, the festival offers young Malaysians a platform to engage with pressing questions around property ownership, financial independence and how cities can better serve the next generation.