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The industrial mould manufacturer said it signed an agreement on Tuesday to sell the land, measuring 4,716 sq m, to Exsim Putra Permai 45 Sdn Bhd.

"The information from the Sistem Pangkalan Data Utama (Padu) database could be utilised to ensure a sustainable real estate market via the residual approach.

The sustainability sukuk is priced at a yield of 5% with a periodic distribution of 5% per annum.

GEM Residences also consists of 15 commercial units on the ground floor which are to be leased out.

"We have given the commitment to signing the supplementary concession agreement, so that they can plan to invest in their assets.

Ho will continue to serve as executive director of the company until March 31, 2024 to facilitate a smooth transition.

Some of the brands are Jaya Grocer, Harvey Norman, The Coffee Bean & Tea Leaf, Nak Nak, Inside Scoop, Kenny Hills Bakers, Jibby & Co, Chica Bonita, Sushi Zanmai, Para Thai, Super Saigon, Dolly Dim Sum, Watsons, Toys“R”Us, Twigs Bookshop, Lavender Bakery, Nyonya Colors, Ali, Muthu & Ah Hock, The Bike Artisan, Pets Wonderland and Happy Fish.

Loke said the supplementary concession agreement is seen as a win-win situation between ERL and users, where the best service can be provided by ERL without burdening the operation in terms of costs.

“Landed residential is Sime Darby Property’s forte.

Rapid Synergy said the land in question is a freehold piece of land that was amalgamated from three parcels in Sri Hartamas here.