KUALA LUMPUR: IGB Corp Bhd, controlled by the Tan family, yesterday announced that it is selling off the five-star Renaissance Kuala Lumpur Hotel for RM765 million cash after purchasing the property for RM506.6 million in 1996. This confirms reports by The Edge weekly on May 23 and The Edge Financial Daily yesterday.
KUALA LUMPUR: Mass Rapid Transit Corporation Sdn Bhd (MRT Corp) is looking to have a third line named MRT Line 3 to connect its MRT Line 1 and Line 2. MRT Corp chief executive officer Datuk Seri Shahril Mokhtar said the company is currently in the midst of completing the feasibility study for Line 3 which is expected to be completed by year-end.
PETALING JAYA (Aug 10): The KL fringe and Selangor office markets are expected to remain subdued while KL city is expected to face downward pressure underpinned by persistent low oil prices, said property consultancy firm Knight Frank Malaysia in its “Real Estate Insights research report for 1H2016”.
KUALA LUMPUR: Scomi Engineering Bhd (SEB) has sold a parcel of industrial in Sungai Choh, Selangor, and the complex on it to Axis Real Estate Investment Trust (Reit) trustee, RHB Trustees Bhd, for RM42mil and will lease back the properties.
LONG-established Concorde Hotel Kuala Lumpur — which is linked to Sultan of Selangor Sultan Sharafuddin Idris Shah, entrepreneur Tan Sri Syed Yusof Syed Nasir and Singaporean tycoon Ong Beng Seng — may be torn down to make way for a multibillion-ringgit integrated project, documents show.
PETALING JAYA (July 8): The iconic “OCBC Building” located at Jalan Hang Kasturi was sold last year in July to building management services company Shen & Sons Sdn Bhd for RM921 psf — translating into RM21 million — JLL Malaysia country head, YY Lau told TheEdgeProperty.com.
SEVERAL of those taking the newly launched LRT service between the Kelana Jaya and Putra Heights stations were first-timers who had never
SOVEREIGN wealth fund Qatar Investment Authority (QIA) has purchased Asia Square Tower 1 for S$3.4 billion (US$2.45 billion) from BlackRock. The deal announced on June 6 is said to be the single-largest office building transaction in the city state and Asia-Pacific so far.
PETALING JAYA: Sapura Resources Bhd is banking on its latest Lot 91 KLCC project to be the key driver of the group’s earnings now that it has sold off its education business for RM246.99mil.
THE office market in Kuala Lumpur and beyond KL (Selangor) remained mostly static and unglued in the first quarter of the year, in the light of the slowing local economy, and the situation looks set to continue for the rest of the year.