DONE DEAL: Agricultural land, Tanarimba, Janda Baik, Pahang DONE DEAL: Serviced residence, Residensi Lucentia, Kuala Lumpur The Pearl is situated in the highly sought-after and esteemed district of the city, adjacent to renowned landmarks like the Petronas Twin Towers and the Pavilion Kuala Lumpur.
The existing property is a luxury condominium with a gross development value (GDV) of RM820 million.
"The group has expressed interest in exploring global assets to add to its portfolio, but would prioritise improving the efficiency of its local operations first.
"These office assets continued to anchor the group’s stable performance, recording an increase in revenue and PBT of RM145.
Bloomberg reported that ICD Brookfield Place's owners, Brookfield Asset Management and state-owned Investment Corp of Dubai, may sell a stake of as much as 49% in the office tower, whose tenants include JPMorgan Chase & Co and Bank of America Corp.
The redevelopment project will result in the expansion of the retail space of an approximate 50,000 square feet (sq ft) of net lettable area (NLA).
“We see TRX as a city-defining project.
The group — comprising KLCCP and KLCC REIT — saw quarterly revenue grow 18.
The group recorded a net profit of RM782.
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