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GuocoLand’s JB Parade sells Johor Bahru hotel property for S$46M to YTL Hotels & Properties unit

Mary Alavanza
By Mary Alavanza

JOHOR BAHRU: GuocoLand Limited has sold its property in Bandar Johor Bahru, Malaysia, for S$46 million (RM150 million) through its wholly-owned subsidiary, JB Parade. The property was sold to Restoran Kisap, a wholly owned subsidiary of YTL Hotels & Properties.

According to the Singapore Business Review, the property is a plot of leasehold land of about 24,040 square metres (sq m), which has a hotel on it. The sale also included a plant, equipment, fixtures, and fittings at the property.

In a bourse filing, GuocoLand said the purchaser is not related to the group or its subsidiaries.

GuocoLand also said the transaction is not expected to have any material effect on its consolidated net tangible assets or earnings per share for the financial year ending Jun 30, 2026. /TISG

Read also: Former Lifebrandz, Autagco, exits F&B business as it shuts last Superfood Kitchen outlet

Featured image by Depositphotos (for illustration purposes only)

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