Extract from The Star (16/5/2015)
Property transactions seen declining, prices to remain flattish
The property market has been in a grind this year and according to projections, it’s not about to free up any time soon.
According to a report early this year by research house JF Apex Research, property transactions are expected to decline by about 10%, with house prices remaining flattish or rising slightly by 3% to 5% upon the implementation of the goods and services tax (GST) on building materials.
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- Created on Monday, 18 May 2015 10:09
Extract from The Star (15/5/2015)
PETALING JAYA: Western Australia property developer, Psaros, expect Asian investors, including Malaysians, to take up 30% of its Park Avenue development in Perth, Australia.
Park Avenue development comprises 93 apartments and four commercial units with a gross development value of A$60 million (A$1=RM2.89).
Chief Executive Officer Danny Psaros said based on the take up rate from its previous launches there was strong demand from Asia.
"Asians like to send their children to Perth for education and we believe by building apartments close to some of Perth's schools will be highly attractive for them," he told reporters said a briefing on the Park Avenue project.
- Created on Monday, 18 May 2015 09:33
Extract from Bernama (17/5/2015)
KUALA LUMPUR: DK Group Properties Sdn Bhd has won multiple awards in the Asia Pacific categories, including Best High-Rise Commercial Development Malaysia, for its D'Twist residential development in Bandar Sunway, Selangor.
The International Property Awards (IPA) which recognises and rewards the finest of property, architecture and interior design in the world, was held here on May 8.
"D'Twist is set to be one of the tallest residential developments within ASEAN countries and a major tourism landmark in Selangor," DK Group's Managing Director Danny Koek said in a statement Sunday.
Other awards scooped by D'Twist were Best New Hotel Construction & Design Malaysia, Best Office Development Malaysia, Highly Commended High-Rise Architecture Malaysia, Highly commended Mixed Use Architecture Malaysia and Highly commended Mixed Use Development Malaysia.
- Created on Monday, 18 May 2015 09:09
Extract from Bernama (15/5/2015)
SINGAPORE: Eco World Development Group Bhd (EcoWorld Bhd), one of Malaysia's fastest growing property developer, is making a foray into Singapore with the opening of its first international EcoWorld Gallery@Singapore.
Located on St Martin's drive, the EcoWorld Gallery@Singapore will showcase EcoWorld projects in Malaysia and overseas.
Currently, the group has 15 projects located in three key economic regions in Malaysia namely the Klang Valley, Iskandar Malaysia and Penang.
Through its associates, EcoWorld will also launch its first project in London by end-May and another in Sydney before the year-end.
- Created on Monday, 18 May 2015 08:49
Extract from The Star (14/5/2015)
KUALA LUMPUR: JF Apex Research expects Tan Chong Motor Holdings, Perisai Petroleum, Guinness Anchor Bhd and property developers with sizeable exposures in Iskandar Malaysia to be in focus on Thursday.
It said Tan Chong group posted lower-than-expected 1Q15 net earnings while Perisai posted a net profit of RM7.03mil as drilling operations of its new jack-up drilling rig, Perisai Pacific 101, started in August 2014.
Guinness Anchor’s 3QFY15 net profit increased 11% on-year, mainly due to improved cost efficiencies and higher revenue.
JF Apex Research said property developers having sizeable exposures in Iskandar Malaysia such as UEM Sunrise, Sunway, Tropicana, could see trading action on news reports that the Johor government will postpone the approvals to build serviced apartments to counter an oversupply.
- Created on Friday, 15 May 2015 17:53
Extract from Bernama (13/5/2015)
SINGAPORE: The 10th iProperty.com International Property and Investment Expo, featuring an array of properties and a line-up of investment seminars, is set to take place here on at Hall 403, Suntec Convention Centre on May 16-17 from 10am to 8pm.
In a statement, iProperty said overseas projects and developments from Australia, Indonesia, Japan, Malaysia, Thailand and the United Kingdom (UK) will be exhibited.
It said established industry experts such as Khalil Adis will also provide insights on overseas property investments.
iProperty.com Singapore general manager, Sean Tan said: "Our research shows that Malaysia, Australia, the UK and Thailand have the highest level of interest for people buying outside of Singapore; 59 per cent intend to purchase within the next two years."
- Created on Friday, 15 May 2015 12:34
Extract from The Star (14/5/2015)
PETALING JAYA: 1Malaysia Development Bhd (1MDB) has roped in Indonesian property firm Mulia Group to build the Signature Tower at the Tun Razak Exchange (TRX) project in Kuala Lumpur.
This comes a year after the fund announced it would partner Export-Import Bank of China (China Eximbank) to develop the 74-storey building.
In a statement released yesterday, TRX’s master developer 1MDB Real Estate Sdn Bhd said it had signed a sale and purchase agreement with Mulia Group for the development rights of the designated plot within the 70-acre TRX project.
The land transaction for the Signature Tower project is valued at RM665mil, 1MDB revealed, without providing details of the transaction. It also did not offer any updates on the project or what had happened to the previous agreement with China Eximbank.
- Created on Friday, 15 May 2015 10:47
Extract from Bernama (14/5/2015)
KUALA LUMPUR: IOI Properties Group Bhd's pre-tax profit for the third quarter ended March 31, 2015 rose to RM163 million from RM115 million in the same quarter last year.
Its revenue increased to RM468.4 million from RM365.8 million previously.
In a filing to Bursa Malaysia today, the group said the 28 per cent or RM102.6 million increase in revenue was due to higher progress of works and sales from the group's ongoing and completed development projects including the recently launched Bandar Puteri Bangi township.
IOI Properties said it will continue to focus on affordable housing and landed properties in its existing and new townships.
- Created on Friday, 15 May 2015 08:24
Extract from The Star (14/5/2015)
PETALING JAYA: Property developer Mulpha Land Bhd is planning to raise about RM18.7mil via a private placement exercise to finance the advances provided for the acquisition of land under joint-venture entity Mayfair Ventures Sdn Bhd.
It said in a Bursa Malaysia filing that the private placement was also to repay borrowings. Mulpha Land said the placement exercise could raise up to RM18.7mil based on the indicative issue price of the placement shares of 82 sen, which represented a discount of around 9.89% to the five-day weighted average market price up to and including the latest practicable date of 91 sen.
However, the company has yet to identify the targeted third-party investor to take up the new shares.
The proposed private placement proceeds involves 10% of its issued and paid-up share capital totalling about 22.8 million new shares at a price that would be determined later.
- Created on Thursday, 14 May 2015 17:45
Extract from The Star (13/5/2015)
KUALA LUMPUR: Kimlun Corp Bhd plans to undertake a residential property project in Kota Tinggi, Johor following the purchase of 29 parcels for RM28.30mil cash.
It had on Wednesday it had inked a sale agreement with two individuals to en bloc purchase 29 parcels of contiguous freehold land measuring about 140.8 acres.
The next stage for Kimlun is to convert the agricultural land to residential status a year after it completed the acquisition.
Kimlun said the development application would be submitted to the relevant authorities for approval after getting the go-ahead from the state authority which includes the conversion application and finalisation of the development planning.
- Created on Thursday, 14 May 2015 17:33