Property developer Tropicana Corp Bhd has redeemed the second tranche of its sukuk wakalah programme worth RM179 million due on Friday.

The Johor Bahru retail market landscape is poised for exciting growth with the upcoming Johor Bahru-Singapore Rapid Transit System (RTS) Link, which is expected to transport around 10,000 passengers per hour in each direction, according to Allan Soo RE Consultants principal, Allan Soo.

Inta Bina Group Bhd’s unit Inta Bina Sdn Bhd has received a RM100.50 million contract to develop a 24-storey commercial building in Shah Alam, Selangor.

Jasa Kita Bhd is disposing of a parcel of land for cash consideration of RM43.08 million in a related party transaction.

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).

Noteworthy:

• Freehold
• Built-up size: 1,710 sq ft
• 4 bedrooms, 4 bathrooms
• Semi-furnished
• Nearby amenities : convenience stores, schools,Mid Valley Megamall, The Gardens Mall, LRT Sri Petaling, LRT Bukit Jalil
• Accessibility: Kesas highway, NPE highway

When: April 2023

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.