Two big transactions, land negotiations took place over the past 10 days in KL OVER the past 10 days, two interesting deals were closed, both involving one of Kuala Lumpur’s finest mixed integrated property known as The Intermark located at the Jalan Ampang-Jalan Tun Razak intersection.
PETALING JAYA: Real estate tycoon Asok Kumar Hiranandani of the Royal Group has bought DoubleTree Hotel, the second parcel of The Intermark to be sold in a week.
KUALA LUMPUR (Apr 7): Malaysian Resources Corporation Bhd (MRCB) is acquiring the German Embassy land here for RM259.16 million. According to MRCB's filing with Bursa Malaysia today, the purchase of the 1.8661 acres (0.76 ha) freehold tract along Jalan Kia Peng would help MRCB grow its property development operations.
KUALA LUMPUR (Apr 6): Hong Leong Financial Group Bhd (HLFG) has proposed to acquire Hong Leong Bank Bhd (HLB) Menara Raja Laut (formerly known as Menara EON Bank) and the parcel of land it sits on for a cash consideration of RM220 million.
PETALING JAYA: There is no shortage of takers for one million sq ft of office space coming onstream in Pusat Bandar Damansara at prices that are setting a new benchmark in the area despite the soft demand for this category of property.
KUALA LUMPUR, April 1 (Bernama) -- Kumpulan Wang Persaraan (KWAP) has completed the RM1.065 billion acquisition of Integra Tower, its first property investment in the domestic market.
KUALA LUMPUR: 1MDB Real Estate and Australian headquartered Lend Lease, have sealed their partnership to develop the Tun Razak Exchange's (TRX) lifestyle quarter, which will have a forecast gross development value (GDV) of RM8 billion upon completion.
The Goods and Services Tax (GST) will not be imposed on rentals of commercial units below RM500,000 a year, says Datuk Seri Najib Razak.
PETALING JAYA: With the pilot project of the elevated Bus Rapid Transit (BRT) Sunway Line set to be operational by June 9 this year, Prasarana Malaysia Bhd (Prasarana) says more can be expected to be built at various locations in the future.
PETALING JAYA: Rental rates for office space in the Klang Valley is expected to remain stagnant in 2015 due to anticipated incoming supply of nearly six million sq ft this year.