“On the surface, this revenue-sharing scheme seems lopsided and demands further detailed disclosures,” they said, noting that Petaling Jaya alone is projected to face a revenue shortfall of around RM10 million under the proposed deal.
The property includes a two-storey factory, a three-storey office block, a two-storey warehouse, and a guardhouse, situated on approximately 6,182 sq m of land.
The rising rents could be a double-edged sword, on one hand signalling the appeal of the once-forgotten areas, but also threatening to price out those who jump-started the vitality.
Damansara Kim is well-located within Petaling Jaya, for both commercial and residential properties.
Asian Pac said the proposed acquisition aligns with its strategy to invest in retail malls, with the objective of increasing net property income.
Find out the y-o-y median transacted price movements of four of PJ’s most popular locales as of Oct 31, 2024 — based on EdgeProp Research and EPIQ platform.
DONE DEAL: Semidee, Bukit Damansara, Kuala Lumpur DONE DEAL: Terrace house, Ara Damansara, Selangor Our most recent data shows that average transacted prices for industrial properties in Petaling Jaya have increased by 67.
“You can’t buy everything you land on but be selective.
Magna Prima said the disposal consideration of RM65 million was arrived at after taking into account the negative net current liabilities of RM68.
While the termination of the controversial Petaling Jaya Dispersal (PJD) Link was welcomed by many Petaling Jaya residents and non-governmental organisations who have been calling for the project to be scrapped due to environmental and social concerns, Parti Pribumi Bersatu Malaysia (Bersatu), one of the main component parties of Perikatan Nasional (PN), has questioned the right of the caretaker Selangor government led by Menteri Besar Datuk Seri Amirudin Shari in making such an impactful decision ahead of the polls.
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