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“This strategic partnership is set to accelerate the development of LIDO into a dynamic, world-class metropolis in the heart of Malaysia’s Southern region.

During the nationwide sales campaign, approximately 30 of Setia’s flagship townships will host lifestyle events across their respective sales galleries in Klang Valley, Penang, Johor, and Sabah, including Setia Alam, Setia AlamImpian, Setia EcoHill, Setia Fontaines, Setia Eco Gardens and Setia Aeropod.

Paradigm REIT will start off with three shopping malls, and the trust could potentially acquire four more assets, chief executive officer Selena Chua Kah Noi said at the same press conference on Friday.

MRCB said the project was awarded to its wholly owned subsidiary, Lembaran Prospek Sdn Bhd, and will span a development period of 48 months.

Khaya Residences will comprise 795 serviced apartment units in a 61-storey L-shaped block.

The IPO, indicatively priced at RM1 per share, comprises retail and institutional offerings, according to the prospectus unveiled on Friday.

Civil proceedings should be commenced to recover the millions in waived penalties, as the developer had unfairly benefitted from the sale of these properties and had obtained “unlawful enrichment”.

Housing and Local Government Minister Nga Kor Ming said that urban renewal is not merely a ministry initiative, but a vital national agenda.

The building is proposed to stand 62 storeys tall, with service apartments taking up 35 floors, while the hotel takes up nine floors.

“Klebang is selected due to its strategic location within the Straits of Melaka Waterfront Economic Zone (SM-WEZ), which offers significant growth potential through its coastal accessibility, expanding infrastructure, and alignment with Melaka’s long-term economic transformation agenda,” stated LBS Bina.