Work starts on CentralPlaza@i-City shopping mall
Construction on i-Bhd’s joint venture project, CentralPlaza@i-City shopping mall at i-City, Shah Alam has begun, with estimated completion within 13 months. The mall has a GDV of RM850 million, and is expected to open by August 2018. Thailand’s leading retail property developer Central Pattana Pcl has a 60% stake while i-Bhd has a 40% share. I-Bhd will also launch two property projects early this year: Hyde Towers @i-City and 8Kia Peng @KLCC. (The Star Online)

Newly opened Dorsett Putrajaya targets 75% occupancy rate
The latest addition to Dorsett Hospitality International, Dorsett Putrajaya Hotel, is looking to achieve a 75% occupancy rate this year. General manager Alfred Paulsen said the target was achievable due to its strategic location in the federal administrative capital. The four-star hotel, which features 218 rooms and suites as well as a scenic lakeview backdrop, is the 22nd hospitality property owned by Dorsett. The company expects to generate RM30 million revenue by the end of this year when the hotel officially opens in May, together with the connecting four-storey Palladium Mall. (The Malaysian Insider)

AmFirst REIT to acquire Penang land with RM250mil loan
AmFirst Real Estate Investment Trust (AmFirst REIT) has secured a RM250 million loan from Public Bank Bhd and AmBank (M) Bhd for the acquisition of six pieces of land in Seberang Perai Tengah, Penang. The land parcels come together with a three-storey hyper mall. The tenure of the borrowing is five years, with an option to extend at the discretion of the lenders. According to its 1HFY16 results, the REIT has RM1.35 billion worth of assets under management and RM541.8 million in borrowings. (The Edge Markets)

First international youth hotel in Cyberjaya
The first international youth hotel in Malaysia, developed by BND Global Development and managed by Container Hotel Group and Everly Group, will be located in Roppongi @ Cyberjaya. The 300-room hotel will sit on a 10ha land in Roppongi, which will be the education hub in Malaysia and includes SEGI College, Cyberjaya University College of Medican Sciences, as well as an international school. It is expected to be completed by 2020. (New Straits Times Online)

PLB acquires Penang property developer for RM23.5mil
PLB Engineering Bhd has acquired Penang-based property developer Phoenix Residences Sdn Bhd (PRSB) for RM23.5 million through its unit PLB Land Sdn Bhd. The announcement did not specify the size nor the exact locations PRSB’s landbank. However, it mentioned that the property included approved development plans and license, making the asset a very marketable property. (The Star Online)

Acoustech to sell Klang property for RM11mil
Acoustech Bhd is disposing its property in Klang to Full Sprint Sdn Bhd for RM11 million under a sale and lease back agreement. Acoustech’s wholly owned subsidiary Formosa Prosonic Technics (FPT) has signed a tenancy agreement with Full Sprint to rent the property for a monthly rental of RM68,044.50 (80 sen per sq ft). Last year, FPT disposed of its manufacturing assets and ceased major operation in Sungai Petani, consolidating its manufacturing activity in Port Klang to rationalise group assets in view of the economic situation. (The Sun Daily)

Two more officers charged with bribery from illegal bauxite miners
Two more Pahang Land and Mines Department officers have been charged with allegedly accepting bribes from an illegal bauxite miner. The MACC said in a statement that civil assistant Mohd Nurfirdaus Rahmad, 28, was charged with accepting RM8,500 from Anurul Hiraq Abu Bakar as inducement to protect the latter’s illegal mining by selling him transport forms, while assistant land administrator Abdul Rahim Sulaiman, 53, was charged with abetting Nurfirdaus. Last week, two officers were charged with accepting bribes from an unlicensed bauxite miner. (The Malaysian Insider)

Duo charged with acquiring property for IS terrorists
Two men have been charged at the High Court for arranging to facilitate acquisition and control of property for IS terrorists. The two men, one working as chef in Singapore and the other a financial consultant, allegedly committed the offence at a bank between December 2013 and July 2014. The consultant stands accused of soliciting property for IS terrorists through a blog, while the other allegedly abetted him by allowing his account to be used for the purpose. (Malay Mail Online)