News by theedgemalaysia.com

Plenitude Bhd, which owns 10 hospitality assets, is acquiring its second hotel in South Korea for 32 billion won (RM114.3 million), in a bid to expand its footprint there.

Puncak Niaga Holdings Bhd is selling three parcels of leasehold land in Selangor for RM306.07 million cash, to monetise its assets as part of the group's "broader strategic thrust of sustainable value creation" for its shareholders.

Sunway Real Estate Investment Trust (Sunway REIT)’s net property income (NPI) for the second quarter ended June 30, 2023 (2QFY2023) increased by 8.7% to RM116.18 million from RM106.89 million a year earlier, primarily driven by its hotel, retail, services as well as industrial and other segments. 

Debt-ridden Perak Corp Bhd, a 52.9%-owned subsidiary of the Perak State Development Corp, will jointly develop four pieces of land in Hulu Bernam Timor, Muallim, Perak, with ARX-YSC Sdn Bhd, a private limited company engaged in construction, property consultancy services and real estate activities — nearly four years after the two companies signed a joint venture agreement (JVA).

Real Estate and Housing Developers’ Association (Rehda) president Datuk NK Tong suggested that banking institutions consider implementing cross-subsidies to help homebuyers own affordable homes.

Berjaya Corp Bhd (BCorp) founder and adviser Tan Sri Vincent Tan and BCorp's unit Berjaya Land Bhd (BLand) have obtained a restraining order against Kedah Menteri Besar Datuk Seri Muhammad Sanusi Md Nor which prevents him from making similar defamatory remarks relating to the Selangor Maritime Gateway (SMG) project.

Tropicana Corp Bhd is planning to launch SouthPlace 2 Shoppes & Residences at its 88-acre Tropicana Metropark development in Subang Jaya in the fourth quarter of 2023 (4Q2023), following the strong 90% take-up of its earlier SouthPlace Shoppes & Residences project, the developer announced in a statement.

Hextar Technologies Bhd (HexTech) has agreed to terminate the deal to sell two parcels of land measuring a total of 235,213 sq ft, located in Pasir Gudang and Klang, to SWS Capital Bhd for RM23.66 million.

LFE Corp Bhd's unit signed a deal on Wednesday (Aug 16) to jointly develop a housing project on 175 hecatres land in Gurun, Kedah.

Country Heights Holdings Bhd, the property developer founded by tycoon Tan Sri Lee Kim Yew, has defaulted on the payment of Islamic term financing facilities totalling RM89.67 million provided by MBSB Bank Bhd.