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Property News

Sime buying 30pc of E&O for RM766m

Sime buying 30pc of E&O for RM766m

Sime Darby Bhd, a Malaysian palm oil company, is acquiring a 30 per cent “strategic” stake in Eastern and Oriental Bhd, at RM2.30 per share or RM766 million, according to a statement to the stock exchange.Business Times had earlier reported that sources said Sime had agreed to buy the 30 ... Read More
MP: Relocate golf course to make way for housing

MP: Relocate golf course to make way for housing

GEORGE TOWN: An independent MP has proposed that a golf course which sits on a state-owned land in Bukit Jambul here should be relocated so that the land can be used for a housing project.Bayan Baru MP Datuk Seri Zahrain Mohd Hashim said such a move would benefit some 5,000 ... Read More
BM Residence - Terrace & Semi-D

BM Residence – Terrace & Semi-D

This is part of BM Residence project by Tambun Indah in Bukit Mertajam. 2-storey Semi-detached Land area : 34' X 84' (standard lot) Built up area : 24' X 45' 11' backyard 4 + 1 bedrooms 3-storey Terrace  Land area : 20' X 70' Built up area : 20' X ... Read More
Integrate traffic impact studies, says councillor

Integrate traffic impact studies, says councillor

PROPERTY developers should channel funds into a common pool for the Penang Municipal Council (MPPP) to appoint independent consultants for traffic impact studies.MPPP councillor Dr Lim Mah Hui said that the studies up to now have been quite ineffective because consultants were appointed by individual developers.“We should consider a new ... Read More
Flat residents fume over smoky issue

Flat residents fume over smoky issue

RESIDENTS of Desa Green flats in Penang are frustrated with a fellow resident who has installed a flue outside his unit, causing smoke to travel to the other units.Desa Green management committee chairman Krishnamoorthy Muthuveloo, who spoke on behalf of the residents, said they tried to get the owner to ... Read More
Sime Darby agrees to acquire 30pc of E&O

Sime Darby agrees to acquire 30pc of E&O

Kuala Lumpur: Conglomerate Sime Darby Bhd has agreed to buy 30 per cent of Eastern & Oriental Bhd (E&O), a developer with large projects on Penang island, sources said. Sime will buy the shares from two parties, believed to be GK Goh Holdings Ltd and Puan Sri Nik Anida Nik ... Read More
Great buys from DNP Land

Great buys from DNP Land

MAKING its mark as DNP Land’s first mega commercial project, the Impiana Commercial Hub is poised to revolutionise the developing township of Alma in Bukit Mertajam. DNP Land Sdn Bhd senior marketing manager Joe Ang Kean Joo said that the 20ha commercial centre offers a diverse range of commercial properties ... Read More
Gurney Paragon Mall’s first phase to be ready soon

Gurney Paragon Mall’s first phase to be ready soon

GEORGE TOWN: The first phase of the RM450mil Gurney Paragon Mall will be ready by the end of this year. Group executive chairman Datuk Khor Teng Tong said the 25 retail tenants in that phase would be Italiennes restaurant, Coffee Bean, Pacific Coffee, and TGIF. The first phase has a net lettable ... Read More
Amanresorts awaiting govt approval for Penang Hill project

Amanresorts awaiting govt approval for Penang Hill project

GEORGE TOWN: World-class hotelier Amanresorts International Pte Ltd's plans to manage and market a proposed resort on Penang Hill are still on track and awaiting government approval. The company told Business Times yesterday that despite news reports that the luxury Aman Resorts chain may be sold, plans or operations of ... Read More
Selangor Dredging: 50pc of income from S'pore projects goal

Selangor Dredging: 50pc of income from S'pore projects goal

KUALA LUMPUR: Former mining concern turned property developer Selangor Dredging Bhd (SDB) expects revenue contribution from Singapore projects to grow to 50 per cent over the next two years. "We hope that 50 per cent of our income will come from Singapore," its managing director Teh Lip Kim said. Currently, ... Read More