Titijaya Land Bhd is disposing of its logistics hub in Bayan Lepas, Penang, to government-linked property investor Pelaburan Hartanah Bhd for RM300 million, in a deal expected to unlock significant value for the property developer.

The proposed disposal price is nearly double the property’s net book value of RM156 million as at June 30, 2026. The transaction is expected to generate a net gain of approximately RM143 million after estimated expenses.

In a Bursa Malaysia filing, Titijaya said its wholly owned subsidiaries, Aman Duta Sdn Bhd and City Meridian Development Sdn Bhd, entered into a conditional sale and purchase agreement with Pelaburan Hartanah on October 26.

The property comprises 7.06 acres of leasehold land housing Penang Logistics Hub 5, a three-storey logistics commercial complex with a gross floor area of 300,726 sq ft. The facility is currently leased to DHL Properties (Malaysia) Sdn Bhd until October 2034.

Titijaya said the divestment aligns with its strategy of selectively monetising completed investment properties at optimal prices, allowing it to unlock asset value and recycle capital into future growth opportunities.

The sale is also expected to reduce the group’s finance costs following the settlement of the remaining borrowings secured against the property. Upon completion, Titijaya’s net assets per share would increase from RM0.97 to RM1.08, while its gearing ratio would decline from 0.18 times to 0.06 times.

Pelaburan Hartanah is owned by Yayasan Pelaburan Bumiputra, a government-linked entity focused on increasing Bumiputera economic participation and wealth creation. Its activities include investment in commercial real estate, property development, and property and asset management.

The proposed disposal does not require shareholder approval and is expected to be completed in the first half of 2027.

BYD Mansion Macalister Penang has won the “Interior Builders: Medium Projects” category at the REKA Awards 2026, recognising its interior design and approach to heritage preservation.

Presented by the Malaysian Institute of Interior Designers (MIID), the awards recognise achievements in interior design, with entries evaluated by a panel of industry professionals.

Located within a restored century-old building in George Town, BYD Mansion Macalister combines historic architecture with a contemporary automotive showroom. The space incorporates dedicated consultation lounges, digital touchpoints and personalised customer areas designed to support the customer experience.

The project demonstrates how a heritage building can be adapted for modern commercial use while retaining its architectural character. Its recognition at the REKA Awards highlights the role of interior design in bringing together heritage conservation, contemporary functionality and customer-focused spaces.

Proposed landed residential development on a 9.6 acres of land along Jalan Fajar Indah in Nibong Tebal. It is just a stone’s throw away from Universiti Sains Malaysia Engineering Campus, 5 minutes drive to Nibong Tebal Town centre. Surrounding communities include Taman Minamah and Taman Keramat Permai.

The proposed development will comprise 134 landed residential units, consisting of 112 double-storey terrace houses and 22 double-storey semi-detached houses. A single-storey community hall is also included in the development plan to serve residents.

The project is still in its planning stage and more details will be available upon official launch.

Project Name : (to be confirmed)
Location : Nibong Tebal
Property Type : Residential
Tenure: (to be confirmed)
Land Area: 9.6 acres
Built-up Size: (to be confirmed)
Total Units : 112 (terrace), 22 (semi-detached)
Indicative Price : (to be confirmed)
Developer : (Follow us to find out more)

DISCLAIMER: This article is solely based on research done using publicly available data. This is not an advertisement. Any claim, statistic, quote or other representation about a project or service should be verified with the developer, provider, or party in question.

About Maris @ Andaman Island

A freehold, 49-storey serviced apartment development by E&O Berhad on Andaman Island, marking the island’s first high-rise coastal development. Located along Gurney Green, the project offers views of Gurney Drive and convenient connectivity to Seri Tanjung Pinang, Gurney Drive and George Town, with essential amenities within approximately five minutes by car. The development comprises 516 fully furnished units across five layout types, with built-up sizes ranging from 979 to 1,356 sq ft, featuring two or three bedrooms and two bathrooms. Indicative prices start from RM950,000, offering residents a coastal lifestyle in one of Penang’s emerging waterfront destinations.

Find out more about Maris @ Andaman Island

Taman Kejiranan Jalan Cheeseman in Jelutong has become the first park in Penang to be completed under the Taman Rekreasi Madani initiative, bringing upgraded recreational facilities and improved accessibility to the local community.

State Local Government and Town and Country Planning Committee chairman Jason H’ng Mooi Lye said RM3 million has been allocated for six Taman Madani projects across Penang, with three under the Penang Island City Council (MBPP) and another three under the Seberang Perai City Council (MBSP).

The Jalan Cheeseman park upgrade received RM412,580 and covered approximately 3,200 square metres. Work began on April 16, 2026, and was completed on October 15, 2026.

The improvements include children’s playground equipment, six outdoor exercise stations, upgraded pedestrian walkways, 10 park benches, two solar-powered lights, mobile CCTV surveillance and six bollards to control vehicle access.

Universal design features, including ramps and seating for persons with disabilities (OKU), were also incorporated to make the park more accessible to people of different ages and abilities, including senior citizens.

One of the notable features retained in the upgrade is the park’s traditional merry-go-round, which is estimated to be more than 50 years old. The equipment dates back to the park’s establishment in 1968 and was preserved following requests from local residents, with improvements made to its safety and appearance.

H’ng congratulated MBPP and the local community for their cooperation in completing the project, highlighting the initiative’s aim of providing safer, more comfortable and inclusive public recreational spaces.

The completion of the Jalan Cheeseman park marks the first milestone in Penang’s wider effort to improve neighbourhood parks and create better recreational spaces for residents.

Images Source: Buletin Mutiara