Residensi 22, Kuala Lumpur condo unit sold for RM2.55m | DONE DEAL
Ijok, Selangor industrial land sold for RM6.
Ijok, Selangor industrial land sold for RM6.
Housing and Local Government Minister Nga Kor Ming said the strict action was taken as premises owners had been given ample time to understand the new policy introduced by the government.
The facility is to partially finance costs and expenses incurred related to the capital expenditure works of its wholly owned subsidiary, Plaza on Hyde Park Ltd, to meet general corporate working capital requirements and to refinance certain existing Malaysian banking facilities.
The Ayu Residences comprises 11-storey low-rise blocks, beginning with Block 1, which is now available.
Ivory Properties will continue to operate as an unlisted entity following its delisting.
As a result, the project went ahead under the Land Acquisition Act 1970, with 67% of landowners agreeing and the remaining 33% facing compulsory acquisition.
Minister in the Prime Minister’s Department (Federal Territories) Datuk Seri Dr Zaliha Mustafa said residents themselves agreed to redevelop the area, selected the developer, and signed a deal without government interference.
The joint venture will allow S P Setia to reduce its capital outlay for the project and comes at a time when the company is targeting to lower its financial leverage, according to MIDF Amanah Investment Bank and Kenanga Investment Bank.
Both organisations aim to facilitate capacity-building and training programmes for developers in Sabah, support the certification of residential and commercial projects under the GreenRE framework, and enhance industry awareness of the economic and environmental advantages of sustainable development.
The freehold project is located about 3km from the upcoming Johor Bahru–Singapore Rapid Transit System (RTS) Link and next to Sunway Commercial Square.