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.
Arika@Kubang Kerian comprises 668 fully furnished residential units and 26 commercial shoplots.
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”.
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.
Located within the Ibrahim International Business District (IIBD), the southern corridor’s core economic nucleus, Quayside JBCC is a 195-metre ultra-luxury freehold development, comprising 482 serviced suites, 24 commercial retail units and 200 hotel suites.
In an exchange filing, YNH Property said its wholly owned units Kar Sin Bhd and YNH Hospitality Sdn Bhd, together with RHB Trustees Bhd, the trustee of Sunway REIT, have mutually agreed to extend the conditional period of their sale and purchase agreement (SPA) signed on Jan 20, 2025.
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