News by Halim Yaacob

A 253-acre freehold landbank in Alor Gajah, Melaka — bought for RM45.60 million in 2023 to develop mixed residential and commercial properties — is now the centrepiece of an indicative US$1.1 billion (RM4.36 billion) Artificial General Intelligence (AGI) data centre development, after DPS Resources Bhd's wholly-owned subsidiary signed a memorandum of understanding (MoU) with an Alibaba Group-affiliated technology firm.

The retail and office arms of the IGB group both reported stronger first-quarter results, though the scale of their performances diverged sharply — with IGB Real Estate Investment Trust's (IGB REIT) malls posting blockbuster growth on the back of a new acquisition, while IGB Commercial Real Estate Investment Trust (IGB Commercial REIT) delivered a steady, organic improvement across its office portfolio, according to its Bursa Malaysia announcements.

Tropicana Corp Bhd is deepening its bet on Langkawi's tourism-driven property market, with its wholly-owned subsidiary Tropicana Scenic Development Sdn Bhd (TSDSB) acquiring two separate parcels of land on the island for a combined consideration of RM195.88 million, according to the company's announcements on Bursa Malaysia.

Avaland Bhd is expanding its footprint in Kuala Lumpur's luxury residential segment, with its indirect wholly-owned subsidiary Nexus Advertising Sdn Bhd (NASB) signing a conditional sale and purchase agreement (SPA) yesterday (April 28) to acquire three adjoining parcels of freehold development land in the prestigious Taman U-Thant embassy enclave for RM86,039,000, according to its announcement on Bursa Malaysia.

The company said it remains open to revisiting the acquisition should suitable opportunities arise.

The land was acquired from five individual vendors. 

Over the same period, the company facilitated more than 116,000 property transactions across the country.

Framing the project within Sepang’s broader urban agenda, Ani highlighted the role of such developments in enhancing liveability and environmental resilience.

Prices start from RM591,000, with completion targeted for 2029. 

Gross revenue for the quarter rose 11.4% to RM13.27 million from RM11.91 million in 1Q2025.