Glomac gears up for challenges ahead

By THE STARGLOMAC Bhd has, over the past 20 years, emerged from a mere township developer to become a niche, high-end property player. The recent en bloc sale of its 40-storey Glomac Tower for RM577mil (a record breaking RM1,120 per sq ft), is another outstanding achievement for the Bursa Malaysia main board company. …


Bangunan MAS to become hotel, apartment complex

By BUSINESS TIMESPERMODALAN Nasional Bhd (PNB) plans to redevelop the Bangunan MAS which it bought from Malaysia Airlines (MAS) two years ago, into a hotel and apartments.President and group chief executive Tan Sri Hamad Kama Piah Che Othman said work is expected to start soon.”We hope to do it as soon as possible, once we [...]


PJD sees brisk sales

By THE STARKUALA LUMPUR: PJ Development Holdings Bhd (PJD) has sold all 185 serviced apartments in one of two blocks for its Swiss-Garden Residences project.Executive director Yap Yoon Kong said the 33-storey Tower A was fully sold when the 1.7-acre freehold development at Jalan Galloway, off Jalan Pudu here was launched on May 31.“We launched [...]


PNB plans to tuen MAS building into hotel

By THE STARKUALA LUMPUR: Permodalan Nasional Bhd (PNB) intends to convert the 30-storey Malaysia Airlines building in Jalan Sultan Ismail here into a hotel or apartments.Group president and chief executive officer Tan Sri Hamad Kama Piah said a study on the proposal would be completed soon.“We hope to undertake the project as soon as possible,” [...]


Housing in US set to recover

By THE STARAMIDST all the doom and gloom so prevalent nowadays, it is very easy to lose one’s sense of perspective.After reading all the bearish news and high-profile bearish forecasts, one can easily become convinced that the world or the economy is coming to an end.Fortunately or unfortunately, there are independent folks out there like [...]


CapitaLand buys 62% of Sungei Wang Plaza

By THE STARPETALING JAYA: Singapore-listed CapitaLand Ltd has acquired 61.9% of Sungei Wang Plaza, a popular retail mall sited within the Bukit Bintang shopping precinct, for RM595mil.The acquisition is the third by CapitaLand, which is planning to set up a pure-play Malaysian retail real estate investment trust (REIT) by the year-end.StarBiz reported on May 17 [...]