Genting Malaysia proposes sale of Miami land for RM5.4bil

KUALA LUMPUR: Genting Malaysia Bhd expects to realise a gain on disposal of US$966mil (RM4.29bil) from the sale of four parcels of land measuring about 15.47 acres in Miami for US$1.23bil (RM5.43bil) cash.

In a filing with Bursa Malaysia, the group said its wholly-owned subsidiary Resorts World Miami LLC had entered into a conditional sales and purchase agreement with Smart Miami City LLC to dispose of the land, known collectively as Miami Herald land as it was formerly the location of the Miami Herald building.