Ideal to acquire 1st Avenue Mall in George Town for RM153m
IUBIB proposes to acquire 1st Avenue Mall in George Town at RM153 million. — Picture courtesy of Google Maps
The company’s subsidiary, I Homes Properties Sdn Bhd , entered into a conditional sales and purchase agreement with 1st Avenue Mall Sdn Bhd for the proposed acquisition of the property located along Magazine Road based on a willing-buyer willing-seller basis. 1st Avenue Mall, opened nine years ago, has 407,076 sq ft of net lettable space and is sited within the inner city of George Town. It is connected to Komtar and another mall, Prangin Mall, through indoor pedestrian bridges.
“As such, IUBIB will seek approval from the shareholders of the company at an Extraordinary General Meeting for the proposed diversification in conjunction with the proposed acquisition,” it said.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Police investigate fracas between MBPP, food truck owner | The Malaysian InsightViral videos capture George Town enforcement op hitting sour note, as council officers, hawker get physical.
Read more »
NRD officer ‘sold MyKad’GEORGE TOWN: Police have busted a syndicate selling Malaysian birth certificates and MyKad to foreigners.
Read more »
Mid-Autumn Festival lantern protests to light up Hong KongProtesters plan a series of lantern-carrying human chains and sit-ins at subway shopping malls, at the city's scenic Victoria Peak and Lion Rock. FMTNews
Read more »
Turtle to be nursed back to healthGEORGE TOWN: The first loggerhead turtle (Caretta caretta) rescued near Pulau Kendi will be released once it is nursed back to health.
Read more »
Penang tells schools to stop all outdoor activities as haze hits 137GEORGE TOWN: The Penang state government has directed schools and sports organisations to stop all outdoor activities in view of the haze.
Read more »