Genting Malaysia acquired the land in 2011, which incurred a cost of investment of US$259mil.
expects to realise a gain on disposal of US$966mil from the sale of four parcels of land measuring about 15.47 acres in Miami for US$1.23bil cash.
The four parcels of land are located directly across the Adrienne Arsht Center for the Performing Arts of MiamiDade County, one of the largest performing arts centres in the US. "The Miami property market has grown significantly since Genting Malaysia’s acquisition of the Miami Herald Land in 2011, with the Miami Home Price Index nearly tripling to 398.56 as at Dec 1, 2022.
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