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PETALING JAYA: The news on Wednesday that the Finance Ministry (MoF) has called off a deal to sell 60% of Bandar Malaysia – a mega property development project estimated to have a gross development value of RM160bil when completed in 20 years – has sent shockwaves through the country and the region.
PETALING JAYA: The race for a majority stake in Bandar Malaysia, the property redevelopment project by 1Malaysia Development Bhd (1MDB) in Sungai Besi, may develop into a three-way fight. Sources said a third bidder comprising a local company backed by the Qatar government’s investment arm had expressed strong interest in the project.
KUALA LUMPUR: CIMB Equities Research is maintaining its underweight for the construction sector on news the government decided to reinstate the Bandar Malaysia project, which was abruptly terminated in May 2017.
KUALA LUMPUR: The Bandar Malaysia project, which will be developed under the public-private partnership (PPP) model with an estimated cumulative gross development value of RM150bil, has the potential to be a catalyst for future economic growth, said master developer TRX City Sdn Bhd.
PETALING JAYA: Opportunities for construction and infrastructure works worth up to RM50bil are up for grabs, as Bandar Malaysia plans to roll out the transit-oriented development (TOD) and launch project tenders in 2017, according to CIMB Research.
KUALA LUMPUR: The Bandar Malaysia Fund will accelerate the development of the major city centre project, which has a gross development value of RM200bil and will be built over 15 to 25 years, according to Iskandar Waterfront Holdings Sdn Bhd (IWH) group executive vice-chairman Tan Sri Lim Kang Hoo.
PETALING JAYA: 1MDB Real Estate Sdn Bhd (1MDB RE) has received the planning approval for its Bandar Malaysia development in Sungai Besi from Dewan Bandaraya Kuala Lumpur.
PUTRAJAYA: A new master developer will take over Bandar Malaysia and the termination of the previous agreement is final.