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Market News

15 Jun 2016 MSC acquires land and properties in Westport for RM50m 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.
14 Jun 2016 LGB Properties mulls mixed-use development on BAT land 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.
14 Jun 2016 Sapura to bank on Lot 91 KLCC project PETALING JAYA: Sapura Resources Bhd is banking on its latest Lot 91 KLCC project to be the key driver of the group’s earnings now that it has sold off its education business for RM246.99mil.
06 Jun 2016 S'pore building sold in largest-ever single-tower real estate deal in Asia-Pacific region SINGAPORE: BlackRock Inc has agreed to sell a 43-storey office building in Singapore to Qatar Investment Authority, a sovereign wealth fund, for S$3.4 billion ($2.5 billion), in what the U.S. firm said was the largest-ever single-tower real estate deal in the Asia-Pacific region.
02 Jun 2016 UOL to expand Malaysian hospitality portfolio SINGAPORE-listed property firm UOL Group Ltd, which owns and operates the Parkroyal and Pan Pacific brands, will see its hospitality portfolio in Malaysia grow in the next two to three years as it adds two new hotels and expands an existing hotel asset in Kuala Lumpur.
25 May 2016 Binastra Land to launch flagship integrated development in Chan Sow Lin PETALING JAYA (May 28): Contractor-cum-property developer Binastra Land Sdn Bhd aims to launch its flagship and largest project – the RM1.3 billion Trion Kuala Lumpur – in Chan Sow Lin, an industrial area in Kuala Lumpur, at the end of the year.
24 May 2016 IGB Corp in talks to sell Renaissance KL ESTABLISHED property company and hotelier, IGB Corp Bhd, is believed to be in talks to dispose of its 20-year-old, 910-room Renaissance Kuala Lumpur hotel to a little-known Singapore company for just below RM800 million. Should the deal materialise, it would create history as the country’s most expensive hotel transaction.
17 May 2016 Tabung Haji drops office rents below prevailing rates near KLCC A RECENT move by Lembaga Tabung Haji to lease its office space in Menara TH Platinum at Platinum Park, Kuala Lumpur, at way below market rental rates caught everyone by surprise and shocked real estate agents and office building owners. At RM5 psf, the rate is less than half that — about RM11 psf — fetched by Petronas Tower 3 and Integra Tower @ The Intermark, which are located nearby.
09 May 2016 Moderate growth seen for industrial property sector PETALING JAYA: The industrial property sub-sector is anticipated to grow moderately this year, boosted by ongoing Government initiatives to boost investments and stable opportunities within this segment.
06 May 2016 LRT 3 project starts this month, 96 companies shortlisted for packages worth RM9bil KUALA LUMPUR: The RM9bil light rail transit line three (LRT 3) project from Bandar Utama to Johan Setia, Klang will kick off this month, with some 96 companies being shortlisted for the various jobs.