Commercial news in Damansara Performing Arts Centre Dpac Selangor
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Foreign businesses push up rents in Mont Kiara and Sri Hartamas
In Kuala Lumpur's Mont Kiara and Sri Hartamas areas, an influx of Korean and Chinese businesses is driving up commercial rents, with some newcomers offering well above asking prices for shop lots. Local SMEs say landlords now expect unrealistic rents, making it hard for them to compete.
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Country Heights unit's Kajang commercial property up for RM55mil auction
A subsidiary of Country Heights Holdings Bhd, Country Heights Commercial Development Sdn Bhd, faces a judicial auction of a 2.60-hectare commercial property in Kajang, Selangor, with a reserve price of RM55 million. The property was pledged as collateral for an S$11.5 million loan from CGS International Capital Singapore, and the auction is scheduled for Sept 21, 2026, after a previous attempt at RM69.85 million failed.
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Federal Court refuses developer leave to appeal Cyberjaya bungalow project ruling
The Federal Court in Putrajaya has refused Lakefront Residence Sdn Bhd and Timeless Hectares Sdn Bhd leave to appeal a Court of Appeal decision that halted a commercial project near 28 luxury bungalows and villas in Cyberjaya. The April ruling found the developer breached sale and purchase agreements by converting residential units to commercial use, and the applicants were ordered to pay RM50,000 in costs.
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Paramount Corp opens 11th Co-labs Coworking outlet at Sunway Square
Paramount Corp Bhd has opened its eleventh Co-labs Coworking outlet at Sunway Square Corporate Tower 1 in Petaling Jaya. The 19,000 sq ft space on Level 9 offers 268 seats and is currently 30% occupied, with two more multinational companies expected to bring it to 50% by month-end. Two more outlets are planned next year in Johor Bahru and the Klang Valley.
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Chin Hin Property enters industrial segment with RM449m Kota Damansara hub
Chin Hin Group Property Bhd has entered the industrial property development segment with The NeX, an integrated industrial-commercial hub in Kota Damansara with an estimated GDV of RM449.4 million. The project follows shareholders' approval of the group's RM66 million acquisition of a 16,222 square metre leasehold industrial site. The development is expected to be completed by 2029.