News by M

The Mutiara Line Light Rail Transit (LRT) project has shown positive progress, with land acquisition for Segments 1 and 2 currently underway in stages, thus reflecting the continued progress of Penang's high-impact public transportation project.

When MLDC Bhd acquired the ageing Kempas Residences within Genting View Resort six years ago, the developer quickly realised that cosmetic refurbishment alone would not be enough to revive the 20-year-old asset.

Batu Kawan has rapidly evolved from a former agricultural enclave into one of Penang’s most active development corridors, underpinned by rising high-rise residential transactions, strengthening commercial property values, and sustained industrial expansion across the area.

IOI Properties Group Bhd (IOI Properties) has formally announced the proposed establishment of IOIPG Malaysia Real Estate Investment Trust (IOIPG REIT), with a total portfolio disposal consideration of approximately RM7.58 billion — one of the largest REIT IPOs in Malaysian history.

PE Land Group will anchor Capstone Corporate Suites with a 35,000-sq ft regional office upon completion, marking a key milestone for the 36-storey Grade-A office tower in Bandar Cassia, and reinforcing Batu Kawan’s emergence as Penang mainland’s business hub.

The High Court has fixed Dec 16 to deliver its decision on the amount of compensation the Malaysian government must pay to Semantan Estate (1952) Sdn Bhd. The compensation will be assessed based on 1956 market rates, following a long-running dispute over the government’s acquisition of the prime “Duta enclave” land along Jalan Duta here.

Penang on Tuesday launched its Publicity and Public Participation Programme for the Final Report of the Draft of the Penang Silicon Island Local Plan (RTPSI) 2050, which was specifically designed for a greenfield area or fully reclaimed development.

Nestcon Bhd is venturing into property development for the first time, proposing to acquire three parcels of freehold commercial land in Iskandar Puteri, Johor Bahru for a total of RM95 million through its indirect 70%-owned subsidiary, Nestcon Iskandar Puteri Sdn Bhd.

Sunsuria Bhd has completed its acquisition of an additional 41% equity interest in KL City Gateway Sdn Bhd (KLCG), raising its total shareholding from 20% to 61%, and consolidating KLCG as a subsidiary of the group.