♦ Record price for Bukit Bintang land? Over the past few days, it was widely reported
that the latest land deal in Kuala Lumpur Bukit Bintang by CDL Hotels (M) S/B (a unit of London-based Millenium & Copthorne Hotels, which is 53% owned by Singaporean
billionaire Kwek Leng Beng) to Urusharta Cemerlang (owns and operates the Pavilion KL
Mall) was transacted at record high price of RM7,209 psf. The land is said to be the last empty lot in the prime location of Jalan Bukit Bintang. The price is more than three times higher than the latest transaction price of RM2,200 psf for a piece of 0.65 ha land in Jalan Perak by Kuok Brothers and FFM Bhd in May 2010.
Property Sector Update : Latest Land Deal Not Reflective of Market Value - 20/09/2010
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