Mammoth to sell Empire Shopping Gallery

Property developer cum owner and operator of hotels and malls Mammoth Empire Holdings Sdn Bhd (MEH) is ready to divest Empire Shopping Gallery in Subang Jaya, Selangor, should it receive a desirable and concrete offer. Empire Shopping Gallery has a gross built-up of RM600,000sf and a net lettable area of 350,000sf spread over 5 levels. It has 98% occupancy. The mall valued at RM510 million 2 years ago, while the latest valuation is RM583 million. The tenancy agreements are typically renewed every three years and the rental yield is between 6.5% and 7%.


(The Edge Property, 07/06/2016)

British American Tobacco sells PJ factories and land for RM218 million

British American Tobacco (M) Bhd (BAT), wholly-owned subsidiary Tobacco Importers and Manufactures Sdn Bhd (TIM) entered into sale and purchase agreement (SPA) with LGB Properties (M) Sdn Bhd for the disposal of two parcels of leasehold land measuring 5.3-ha (13.1 acres) in Virginia Park, Petaling Jaya, Selangor, for RM218 million cash. The land was sold together with its existing buildings including offices, warehouse, cafeteria and factory. The land comes with 99-year lease which will expire in 2060 and 2062, and part of the land was leased to Tenaga Nasional Berhad (TNB) until 2032. Upon signing the SPA, the building will be rented out to BAT’s subsidiary for RM1.09 million per month. Currently, the property’s market value stands between RM262.5 million, where RM216.8 million for the land and RM45.7 million for the buildings.


(Property Guru, 09/06/2016)

Magna Prima to buy Shah Alam land for condo project

Magna Prima Bhd’s has entered into a conditional sale and purchase agreement with Regalia Raintree Sdn Bhd, to buy a piece of leasehold land measuring 5.25 acres in Bandar Shah Alam, Selangor for RM43 million. The company plans to develop The View Residence, comprising 3 blocks of 15-storey condominiums, with a total of 315 units, 5 units of shop offices and 953 parking bays. Total estimated gross development value is RM220.81 million, with the gross development cost of RM180.69 million will give them gross profit of RM40.12 million.


(The Edge Property, 10/06/2016)

LTKM Bhd buys CN Asia land for RM58.4 million

LTKM Bhd plans to buy four parcels of adjoining land measuring 6.38 acres, worth RM58.4 million for future property development. A 2.389-acre leasehold land houses CN Asia’s existing factory, the others 3 parcels are all vacant.

(iProperty, 14/06/2016)

Hap Seng buys Kuala Selangor plots for RM228.75 millon

Hap Seng Consolidated Bhd is buying 36 parcels of freehold agricultural land with an aggregate land size of 1,449.52 acres in Kuala Selangor, for RM228.75 million to develop a mixed development with an estimated gross development value (GDV) of RM9.3 billion. Hap Seng unit Euro-Asia Brand Holding Company Sdn Bhd is buying 20 plots of land which collectively measure 734.82 acres from Shalimar for RM121.54 million or RM165 per acre. It also acquired another 16 plots, from Indo Malay measuring 714.7 acres for RM107.21 million or RM150 per acre. All the 36 plots it is acquiring are located in the Kuala Selangor district and can be easily accessed via the Latar Expressway. Hap Seng intends to develop the GDV of RM5 billion land with “sought-after modern guarded-and-gated lifestyle residential properties and commercial components” on Shalimar plots. The land parcels also close to the Royal Kampung Kuantan Golf Club and University of Selangor in Batang Berjuntai. The deals are expected to be completed in 3Q16.


(The Edge Property, 16/06/2016)

MSC acquires land and properties in Westport for RM50 million

Malaysia Smelting Corp Bhd (MSC) subsidiary, M Smelt (C) Sdn Bhd is buying three parcels of land at Pulau Indah Industrial Park, Westport – along with plant and machinery on the properties for RM50 million from Metal Reclamation (Industries) Sdn Bhd. The company is paying RM32.5 million for the three plots of leasehold land, with aggregate land size of 12.05 acres and the buildings built thereon, and RM17.5 million for the plant and machinery.


(The Edge Property, 16/06/2016)

AmanahRaya REIT buys property in Cyberjaya for RM40 million

AmanahRaya Real Estate Investment Trust (REIT) is acquiring a land together with a 4-storey office building in Cyberjaya for RM40 million from Cyberview Sdn Bhd and Setia Haruman Sdn Bhd. The freehold land is 2.05 acres in size while the building has a gross floor area of approximately 93,804sf. The property has tenancy agreement for a tenure of five years with a potential for extension for another three years. It also provides an initial net yield of 7.19% per annum.


(The Edge Property, 16/06/2016)

PR1MA to buy affordable homes from Gabungan AQRS for RM314m

PR1MA Corp Malaysia plans to buy 1,140 units of affordable homes, along with the 19.03-acre land on which they will be built, from AQRS Bhd for RM314 million. The project sits on a leasehold land in Putra Perdana Sepang, Selangor. It comprises 4 blocks of 19-storey apartments by a lake side with three different built-up areas of 850sf, 950sf and 1,050sf. The project is estimated to be completed in 3.5 years.


(The Edge Property, 23/06/2016)

Ideal Sun City to buy commercial buildings for RM50 million

Penang-based Ideal Sun City Holdings plans to invest RM50 million to acquire commercial buildings in Penang, Kuala Lumpur and Selangor. Currently, the group has 58 units of stratified properties in Penang and 12 light industrial units in the Klang Valley. It is also pursuing a mixed development project in Selangor.

(The Edge Property, 28/06/2016)

Mapletree Logistics Trust to acquire Shah Alam warehouse for RM160 million

Mapletree Logistics Trust (MLT) is acquiring a warehouse facility in Malaysia (Mapletree Shah Alam Logistics Parks) at a price of RM160 million from Mapletree Investments. The 3 blocks of single-storey multi-tenanted warehouse with mezzanine offices, has a total gross floor area about 60,905sm and is designed with modern building specifications. It offers net property income yield of 7.5%.

(The Edge Property, 29/06/2016)