Damansara-Shah Alam (DASH) elevated expressway was concluded

The Selangor government has agreed to include the Damansara-Shah Alam (DASH) elevated expressway alignment into the Petaling Jaya City Plan 2 (RTPG 2). This was concluded at the Selangor state exco meeting on May 13.

However, the state government has agreed to include parts of the alignment that is not subject to any protest from residents. The objections are from the Damansara Perdana and Mutiara Damansara residents. The residents had been objecting to DASH since 2012 because it was too close to residential homes in their area, with some barely 30 metres away from the expressway.

DASH, costing about RM4 billion, will be a 20.1km, three-lane expressway. The areas along the proposed route for DASH are Shah Alam's Puncak Perdana U10, Alam Suria, Denai Alam, Kampung Melayu Subang, Rubber Research Institute Malaysia, Kota Damansara, Mutiara Damansara and Damansara Perdana.

It will then link users to the Lebuhraya Damansara Puchong (LDP) and Sprint highways.

The expressway will also serve motorists from Puncak Perdana, Alam Suria, Denai Alam, Kampung Melayu Subang, Jalan Sungai Buloh, the Rubber Research Institute Malaysia, Kota Damansara, Damansara Perdana and Mutiara Damansara.

Damansara-Shah Alam (DASH) elevated expressway was concluded

MENARA RAJA LAUT (FORMERLY KNOWN AS MENARA EON BANK) FOR SALE AT RM220MIL

Hong Leong Financial Group Bhd (HLFG) has proposed to acquire Hong Leong Bank Bhd (HLB)'s Menara Raja Laut and the parcel of land it sits on for a cash consideration of RM220 million.

HLFG’s entered into a sale and purchase agreement with HLB for the proposed acquisition.

The proposed acquisition is expected to be completed by the first half of this year, barring any unforeseen circumstances, it said.

MENARA RAJA LAUT (FORMERLY KNOWN AS MENARA EON BANK) FOR SALE AT RM220MIL

Currently, 41% of the office building is occupied by tenants, of which 36% comprised HLB and its subsidiaries. Part of the land is leased to Tenaga Nasional Bhd.

Upon completion of the proposed acquisition, HLB is expected to lease its occupied office space from HLA with a rental payment of about RM5.14 million per annum. The proposed acquisition is in line with HLA’s “strategic asset allocation” as it may provide long-term yield and/or capital appreciation potential. The group may consider proposals to refurbish and redevelop the building including collaborations with a property developer to do so.

Some basic details on Menara Raja Laut (formerly known as Menara Eon Bank)

Location :

Located at Jalan Raja Laut , matured commercial area with good accessibility via Jalan Kuching, Jalan Sultan Ismail and Jalan Tun Razak

Public transports within 1 km radius – STAR and PUTRA LRT Lines, KTM & Monorail StationsWide Catchment Area

Project land area : 1.4 acres

Net lettable area : 400,000sf

Car park bays : 625 bays

Tenure : Freehold

Tabung Haji is to sell land in TRX

Tabung Haji is to sell land in TRX within two weeks from mid of May.

Lembaga Tabung Haji, which is planning to sell the 0.66 hectare piece of land in the Tun Razak Exchange (TRX), has received three offers from interested buyers.

One potential buyer has offered RM188.5 million, the price Tabung Haji paid to purchase the land from 1Malaysia Development Bhd (1MDB), but with an additional profit of RM5 million.

By looking at the Gross Development Value of RM828 milion, and deducting the Gross Development Cost of RM650.5 milion, Tabung Haji is able to make a gain of RM177.5 million.

Abdul Azeez also said the value of the land at RM2,774 per sq foot was lower than several other transactions done nearby at more than RM3,000 per sq ft including Malaysian Resources Corporation Bhd’s purchase of land belonging to the German Embassy.

Todate, Pilgrims fund Lembaga Tabung Haji has yet to finalise the sale of its parcel of land at the Tun Razak Exchange (TRX) project, which it bought from 1Malaysia Development Bhd (1MDB) in April, Putrajaya said today. Minister in the Prime Minister's Department Datuk Seri Jamil Khir Baharom said Tabung Haji was still evaluating potential buyers, even though its chairman Datuk Seri Abdul Azeez Abdul Rahim had in early May said that the sale will be completed in "a week or two". Tabung Haji is still evaluating all the offers in its effort to make the best decision so that the whole process remains Shariah compliant.

The minister did not provide a specific timeline as to when the sale will be completed. "We must be very thorough and careful in this sale, it involves the interests of the Muslims, so it's important that we look after their interests