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Berjaya Assets looks to raise RM1bil for reclamation works in JB CONSTRUCTION

BAssets executive director Koh Huey Min said at an investors briefing that BAssets had obtained the rights to reclaim 55 acres of seabed for development, situated beside its existing development Berjaya Waterfront Sdn Bhd. Reclamation works are expected to begin in 2018 after the necessary approvals are obtained. BAssets owns entities such as Berjaya Times Square in Kuala Lumpur

(BAssets) is looking to raise close to RM1bil via the equity markets to fund reclamation works for its 55-acre piece of land in Johor Baru, although the timeline is still fluid.

BAssets executive director Koh Huey Min said at an investors briefing that BAssets had obtained the rights to reclaim 55 acres of seabed for development, situated beside its existing development Berjaya Waterfront Sdn Bhd.

Reclamation works are expected to begin in 2018 after the necessary approvals are obtained.

BAssets intends to establish a mixed development comprising hotels, high-end residential units and a hospital on this piece of reclaimed land.

Koh also said that BAssets is mulling the potential listing of Berjaya Waterfront in via a real estate investment trust (REIT).

BAssets has set a target to increase Berjaya Waterfront’s existing occupancy rate of 50% to 70% by the end of the year.

It is understood that BAssets would like Berjaya Waterfront to first achieve higher occupancy rates and yields before the Reit exercise is considered.
 

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Somehow I don't buy it.
Uncle Vince are going to build a glassy nice looking building? Really?
 

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Corellian YT-1300
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Somehow I don't buy it.
Uncle Vince are going to build a glassy nice looking building? Really?
Lol, at first I thought you were talking about our resident cynical JB forumer who posts loads of negative stuff here... Then I realize you meant the guy with the ironic company name whose malls never seem to succeed! :lol:

And good to tear that Berjaya Waterfront Hotel down, it's aging badly and wasting the prime straits view location... This triple tower looks really good though, and certainly better looking than the Tri Tower (Capri by Fraser) project nearby! :banana:
 

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people will say that the towers look like marina bay sands but for me it is better than most of the buildings proposed and constructed in JB. At least it is much better than PRC developers which make JB looks like plastic
 

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Maintenant ou Jamais
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the 'boat' on MBS is fully supported by 3 towers,this one is like half attached to the middle of the towers,i dont think this one is build separately like MBS tho rather than part of the building itself???!!!
 
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