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.
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”.
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 taken the train before. The service officially began yesterday at 6am but most of the passengers strolled in after 9.30am.
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.
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.
KUALA LUMPUR (June 15): Malaysia Smelting Corporation Bhd (MSC) is buying three parcels of land at Pulau Indah Industrial Park, Westport — along with plant and machinery on the properties — for RM50 million.
PETALING JAYA (June 13): LGB Properties (M) Sdn Bhd, a subsidiary of LGB Group, is planning a mixed-use development on a parcel in Virginia Park, Section 13 here that is currently occupied by British American Tobacco (M) Bhd’s (BAT) factory, said LGB Group director Lim Chin Sean.