China developer pays RM2.4b for Iskandar plot
Kuala Lumpur
CHINA'S state-owned Greenland Group is buying a 128-acre (51-hectare) prime waterfront land in Malaysia's Iskandar from Malaysian property developer Iskandar Waterfront City Bhd for RM2.4 billion (S$886.3 million).
This marks Greenland's second land deal in Malaysia. The Shanghai-based company in April bought a plot of land in the southern state of Johor for RM600 million for residential and commercial use. Greenland Group executive vice-chairman Xu Jing said that it was "extremely upbeat" about growth prospects in Iskandar Malaysia, just across Singapore, according to a statement issued by Iskandar Waterfront on Wednesday.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
US 30-year mortgage rate falls for first time since March
Government probes ‘misleading’ and ‘unrealistic’ resale listings for S$2 million HDB flats
German commercial property prices drop 9.6% in Q1
Swedish home prices swell with buyers expecting rate cuts
Blackstone, Starwood split on commercial property market risks
No bids for Pine Grove’s mega en bloc sale at S$1.95 billion price