News by theedgemalaysia.com

Sunway Bhd has clarified that there was no valuation made by independent registered valuer on the 559-acre prime industrial land in Batu Kawan, Penang which it acquired from Penang Development Corp (PDC).

Unitholders of KIP Real Estate Investment Trust (KIP REIT) on Wednesday voted in favour of the REIT’s proposal to acquire KIPMall Kota Warisan in Sepang for RM80 million.

Hong Leong Investment Bank (HLIB) Research has maintained its “buy” rating for IOI Properties Group Bhd (IOIPG) at RM1.67, with a higher target price (TP) of RM2.48 (from RM2.10).

YLI Holdings Bhd’s subsidiary, Laksana Wibawa Sdn Bhd, has accepted and received RM97.84 million in compensation for its land in Hulu Serendah, Selangor that was compulsorily acquired for a rail project.

RHB Research is still upbeat on industrial real estate investment trusts (REITs), as the demand and supply dynamics in the sector remain in favour of landlords, despite acquisitions declining after a sharp rise in valuations during the Covid-19 pandemic, which had compressed yields.

Matrix Concepts Holdings Bhd has achieved 30% take-up rate for Levia Residences since its soft launch last August, said Matrix Concepts founder and group executive deputy chairman Datuk Seri Lee Tian Hock during the sale and purchase agreement (SPA) signing ceremony with the Malaysia Basketball Association (Maba) at Wisma Maba, Kuala Lumpur on Tuesday.

On Sept 27, Sunway Bhd, through a statement, announced that its 70% owned subsidiary, Umech Land Sdn Bhd, had entered into a joint development agreement with PDC to develop a 559-acre prime industrial land in Batu Kawan, Penang, in exchange for a land entitlement of RM646.02 million.

“We are hopeful that Budget 2024 will bring about significant change, and positively influence the sentiment in the property market through the introduction of stimulus packages."

Econpile said its wholly-owned subsidiary Econpile (M) Sdn Bhd has accepted the letter of award from Suriamega Development Sdn Bhd for the job.