Property News

I-Berhad is shaping up its i-City project in the heart of Selangor's golden triangle with a new wave of development and investment in Artificial Intelligence (AI) technology. Executive chairman Tan Sri Lim Kim Hong told NST Property that in spite of a challenging market environment, I-Berhad will continue to invest in i-City because of strong investor confidence in the development. The ...

 The Malaysian economy is expected to see a contraction -2.0% at its worst and growth of 0.5% at its best in 2020, compared to 4.3% in 2019, against a highly challenging global economic outlook. Bank Negara Malaysia (BNM) in its 2019 Economic Monetary Review on Friday said the domestic economy will be impacted by the necessary global and domestic actions taken to contain the ...

 Mah Sing Group Bhd  is on track to achieve its RM1.5 billion sales target for this year, having achieved RM1.13 billion in sales in the nine-month period ended Sept 30, 2019. In a statement today, the property developer said its balance sheet remains healthy, with cash and bank balances of approximately RM1 billion which allows the group ...

Tropicana Corporation Bhd will continue to focus on delivering long-term value to its stakeholders by targeting new launches with a gross development value (GDV) of RM3 billion in the financial year ending Dec 31, 2020 (FY20).  These new launches, which are expected to contribute positively to the group’s earnings in the coming year, include the strategically-located ...

UEM Sunrise Bhd expects to garner up to RM4 billion in potential unbilled sales in the next two years from the groups ongoing and new projects, said managing director and chief executive officer, Anwar Syahrin Abdul Ajib. The leading property developer aims to launch new projects with a gross development value (GDV) of RM2 billion this year, in addition to RM1.23 billion worth of ongoing as well ...

MAH SING GROUP BHD has completed an issuance of secured and unrated sukuk murabahah of RM600mil in nominal value under the sukuk murabahah programme. The secured and unrated Islamic medium term notes has a tenure of five years and carries a fixed profit rate of 4.35% per annum payable semi annually. The sukuk murabahah issuance has been oversubscribed, the company said in a filing with the ...

LOSS-MAKING AVILLION BHD has received an offer for its land in Port Dickson from a China-based investment group. Sources say that a group called Guangxi East Hangyang Investment Group has made an offer of about RM380mil to purchase six parcels of land that Avillion owns in Port Dickson, Negri Sembilan. The offer includes the piece of land that houses one of Avillion’s main ...

 MAH SING GROUP BHD is aiming for a minimum sales target of RM1.6bil for 2020 with a key focus on the affordable homes segment as around 84% of its target is from residential properties priced below RM700,000. In a press release issued yesterday, Tan Sri Leong Hoy Kum said affordable homes located at strategic locations remain highly sought given the growing interest from young ...

KUALA LUMPUR, March 23 -- Access to affordable housing is more of a demand-supply issue which calls for a carefully designed strategy of policy intervention rather than the general perception of access to financing. On the supply side, the housing market has not provided an adequate supply of affordable housing for the lower and middle-income households. In 2014, the shortage of affordable ...

KUALA LUMPUR (March 2): Bank Negara Malaysia maintained the overnight policy rate (OPR) at 3% as the central bank evaluated risks to the country's economic growth and inflation. Bank Negara said in a statement today its monetary policy committee (MPC) maintained the OPR at 3%, a level deemed accommodative and supportive of economic activity. "At the current level of the OPR, the stance ...

PETALING JAYA (Feb 27): The aggrieved buyers of Sri Istana Condo on Jalan Kuchai Lama, Kuala Lumpur have succeeded in defending their rights to claim liquidated ascertained damages (LAD) for the delay in delivering vacant possession to them. The buyers who were represented by a legal team from the National House Buyers Association (HBA) was granted an Order of Certiorari to quash the ...

PETALING JAYA (Feb 27): Mah Sing Group Bhd (Mah Sing) unveiled its new corporate logo and tagline during the company’s annual dinner at the Majestic Hotel, Kuala Lumpur, recently. According to a press release today, the new logo is the company’s third since its inception and symbolises Mah Sing’s identity — a company that strives for excellence in product delivery, ...

KUALA LUMPUR: Property developer SP Setia Bhd will continue to launch more mid-priced landed properties and affordable homes this year. President and chief executive officer Datuk Khor Chap Jen said on Thursday the mid-priced landed propertisles will consist of terrace units ranging from RM600,000 to RM800,000 in the Klang Valley and Johor. While the group remains cautious amid the ...

PETALING JAYA (Feb 17): Property investment and holding company KL 33 Properties Sdn Bhd has acquired Menara Prudential (pictured) in Kuala Lumpur city centre for RM125 million, according to JLL Malaysia who is the transaction advisor on behalf of the seller — OCBC Properties (M) Sdn Bhd. “We are pleased to have supported both the seller and buyer on their exit and growth strategy ...

KUALA LUMPUR (Feb 14): Sunway Property, the property division of Sunway Bhd, is looking to launch RM2 billion worth of properties this year with 90% of the launches in Malaysia, while the remaining will be in Tianjin, China. According to managing director of Sunway Bhd’s property development division for Malaysia and Singapore Sarena Cheah, this will amount to between 10 and 12 launches ...

KUALA LUMPUR: Sunway Property's unit has purchased an 8.45 acre leasehold land in Jalan Peel, Cheras where it will jointly undertake a property project with an estimate gross development value (GDV) of RM2.5bil. Sunway City Sdn Bhd (SunCity) had on Friday inked a joint venture agreement to develop the leasehold land, which is opposite its iconic Sunway Velocity development. Under the ...

PETALING JAYA: M101 has appointed China Huashi Enterprises Co. Ltd. (China Huashi) as the main contractor for the development of M101 Skywheel, a project with a gross development value (GDV) of RM1.8bil. M101 Skywheel is a mixed development which will stand at a height of 316 m and is headed for completion by 2020. Speaking after the signing ceremony with Huashi, M101 Datuk Seth Yap said this ...

PETALING JAYA (Feb 10): Property prices in Johor’s Iskandar Malaysia is expected to drop in 2017 due to weak market sentiments and other challenges, but there are opportunities for developers to target buyers from overseas, said Landserve (Johor) Sdn Bhd executive director Wee Soon Chit. “There will still be a slight downward adjustment in property prices this year,” he told ...

PETALING JAYA (Feb 8): Chinese developers and investors have bought a total US$1.8 billion (RM7.99 billion) worth of Australian residential development sites in 2016, amounting 38% of total sales, according to international real estate firm Knight Frank. “This is up 12% in comparison with 2015, and up 36% from 2012,” said Knight Frank in its latest report “The Rise of Chinese ...

PROPERTY developer and asset manager Mammoth Empire Holdings Sdn Bhd has signed on the dotted line to sell its flagship Empire Shopping Gallery in Subang Jaya, Selangor, to Pelaburan Hartanah Bhd (PHB) for RM570 million cash. With the agreement, which was sealed late last week, MEH will be able to raise some much-needed funds and quash rumours of further delays in the completion of its ...