IOI Properties buys PJ mall for RM680mil

Quick Summary:

IOI Properties Group Bhd (IOIProp) is purchasing Tropicana Gardens Mall in Petaling Jaya for RM680mil, in addition to three other acquisitions over the past eight months.

The two hotels purchased will add 349 room keys to the existing 2,355, totalling 2,704 room keys of all eight hotels under the group’s hospitality and leisure segment, while the land in Pantai Kok is bought for another hotel development project.

Other major acquisitions over the past eight months by IOIProp include the 150-room W Kuala Lumpur hotel for RM270mil, 199-room Courtyard by Marriott Penang for RM165mil, and a freehold land measuring 9.86 acres in Pantai Kok, Langkawi, for RM90.1mil.

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Article Details

Category: EconomyBusiness

Markets: MalaysiaChinaSingapore

Topics: /Business/Business News RetailExpansion IOIProperties TropicanaGardensMall Corporate News IOIMall MallAcquisition

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-24 @ 00:00:00 (10 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 653 words

Reading Time: 4 minutes read

Sentences: 19 lines

Sentence Length: 35 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Star

News ID: 21755857

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