Ivory Properties buys hotel in Penang for RM75m cash

Ivory Properties buys hotel in Penang for RM75m cash

The Edge Markets - Malaysia·2020-12-14 15:04

KUALA LUMPUR (Dec 14): Ivory Properties Group Bhd has acquired Copthorne Orchid Hotel & Resort in Penang for RM75 million cash to expand its land bank and strengthen its foothold in the property market there. 

The hotel sits on a parcel of freehold land measuring at 2.5 acres, and has ceased operations.  

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