Paragon Globe sells Johor industrial land for RM64.47mil
PGB plans to allocate the proceeds toward disposal-related expenses, partial repayment of bank borrowings and working capital.
PGB plans to allocate the proceeds toward disposal-related expenses, partial repayment of bank borrowings and working capital.
Bayu Timur Residences will house a total of 518 units spread across four blocks.
The units have built-ups ranging from 953 to 1,527 sq ft and selling prices start from RM650 psf.
The property will mark both IHG’s brand debut in Malaysia under the Vignette Collection and its first hotel in the state of Pahang.
The transaction was executed via Dynamic Gates Sdn Bhd, a special purpose vehicle formed under Paramount Corporation Bhd’s earlier securitisation exercise, and the group plans to develop a high-rise project on the site as part of its broader expansion strategy in the Northern Region.
Bina Puri said the subsidiary is seeking legal and tax advice and will “take all necessary steps to oppose and defend against the petition”.
The group said the development will comprise 1,673 residential units and a commercial net sellable area of 87,500 sq ft.
This year, the light festival will tell eight stories using “an evocative world where light is both art form and storyteller”.
YTL Hotels had announced the acquisition of the Thistle Johor Bahru hotel from GuocoLand Ltd for RM150 million in September this year.