Blog Entries tagged 'The Edge'

I-Bhd Inks Deal with Everbright to Develop Last Parcels of i-City

ella@thinkproperty.my — Mon, 19 Dec 2011 09:05:35 +0100

PETALING JAYA: I-Bhd has inked an agreement with Everbright International China to co-develop the remaining 30 acres of land in i-City, Shah Alam. Everbright will hold a 70% stake in the deal, while I-Bhd will hold the remaining 30%.

Under the agreement, Everbright will finance the entire construction and lead a consortium of China-based companies to set up operations in i-City, while I-Bhd would be responsible for providing the land, as well as ensuring that the subsequent developmen [...]

More Developers to Build Homes with PR1MA

ella@thinkproperty.my — Mon, 19 Dec 2011 08:52:39 +0100

SEREMBAN: More large developers are expected to work with the government to build afforable homes under the Projek Perumahan Rakyat 1Malaysia (PR1MA) housing scheme. Prime Minister Datuk Seri Najib Razak — who launched PR1MA's collaboration with Sime Darby Bhd to build 2,200 houses in Labu, Seremban on Tuesday — told reporters, "They are coming on board one by one. Sime Darby is the first because they have land and are prepared to launch.

So we gave them the [...]

Ekovest-MRCB JV Gets River of Life project

ella@thinkproperty.my — Wed, 14 Dec 2011 09:32:11 +0100

PETALING JAYA: Ekovest-MRCB JV Sdn Bhd, a 60:40-joint venture between Ekovest Bhd and Malaysian Resources Corp Bhd (MRCB), has finally been appointed the project delivery partner (PDP) of the RM2.2 billion Klang river rehabilitation and beautification project, known as the River of Life project. The JV first obtained the letter of intent from the government for the job back in February. According to the announcements made by both Ekovest and MRCB on Tuesday, the JV as the PDP will receive 1% of [...]

Singapore�s Property Game Changes

ella@thinkproperty.my — Fri, 09 Dec 2011 09:09:07 +0100

KUALA LUMPUR: Malaysian developers that enthusiastically expanded across the Causeway could hit a bump in their plans, following the latest move by Singapore to further cool its property market by making buyers, particularly foreigners, pay more in taxes. Singapore’s government had on Wednesday announced that foreigners buying private homes will have to fork out an additional stamp duty amounting to 10% of the property’s value.

Singapore permanent residents meanwhile will [...]

10 New Hotels in M'sia for Accor

ella@thinkproperty.my — Thu, 03 Nov 2011 07:44:14 +0100

PUTRAJAYA: International hotel operator Accor announced its plans to establish 10 new hotels in Malaysia as part of its robust expansion plan in the country.

According to Accor Malaysia, Indonesia & Singapore vice president Gerard Guillouet, the ten new hotels will add significantly to Accor's presence in Malaysia, as the success of its four existing hotels provides the confidence to aggressively expand its network of hotels in Malaysia.

"The success of these v [...]

CBRE: Oversupply of Office Space by 2014

ella@thinkproperty.my — Wed, 02 Nov 2011 07:39:29 +0100

KUALA LUMPUR: The mega projects to build more skyscrapers in Kuala Lumpur city centre that are in the pipeline will result in an oversupply of office space in the Klang Valley by 2014, said CB Richard Ellis (M) Sdn Bhd executive chairman Christopher Boyd.

“We are looking at a picture where supply [of office space] is going to likely outstrip demand,” he said at a luncheon talk hosted by MIDF Amanah Investment Bank Bhd last October 31.

“This year alone, new [...]

Zerin Sees Stable 2012 for Real Estate Market

ella@thinkproperty.my — Fri, 28 Oct 2011 08:28:27 +0100

KUALA LUMPUR: With about two months to go till 2012, Zerin Properties Sdn Bhd CEO Previndran Singhe is expecting real estate transactions to slow down before picking up again in the middle of next year.

Previndran said the market in 2012 will be stable. “I am of the opinion that 2012 will be a stable year. Prices will remain stable, with asking prices, not values, becoming more reasonable as owners check their values to real pricing,” he said.

Despite the uncert [...]

Somerset Puteri Harbour to be Managed by Ascott

ella@thinkproperty.my — Wed, 26 Oct 2011 09:24:30 +0100

KUALA LUMPUR: The Ascott Ltd has been appointed managers of the Somerset Puteri Harbour serviced residences in Johor upon its completion.

Scheduled to be launched next month, the 204-unit serviced residences — located in the waterfront development of Puteri harbour in Nusajaya, Johor — is being developed by Nusajaya Consolidated Sdn Bhd (NCSB), a joint venture between United Malayan Land Bhd (UM Land) and UEM Land Holdings Bhd. The units range from studios to three bedroo [...]

Strong Response to �The Mansions�

ella@thinkproperty.my — Thu, 19 May 2011 08:04:43 +0100

Maintain overweight: Desa Park City’s latest offering — The Mansions, comprising 127 units of terrace houses — was launched over the weekend with about 85% of the units sold at average pricing of RM620psf to RM650psf. The Mansions came in three variants — 2½-storey, 3-storey and 3½-storey units.

The 2½-storey houses — 33 units on offer — have been expected to sell well given the overwhelming interest. Hence, the sale was d [...]

Viva Home: 90% Occupancy Next Month

ella@thinkproperty.my — Sat, 14 May 2011 12:07:21 +0100

Extract from The Edge (13/05/11)

KUALA LUMPUR: Viva Home, the first mall of its kind in the country that pools home furnishing retailers under one roof, expects to see an occupancy rate of 90% when it officially opens next month. The mall has already soft-opened and is currently about 65% occupied.

In an exclusive tour with The Edge Financial Daily, Kha Seng group PR & Communications manager Candice Foong said the mall is targeted at [...]

No Surprises from Two Largest REIT

ella@thinkproperty.my — Thu, 12 May 2011 07:53:57 +0100

Extract from The Edge (11/05/11)

Underscoring their defensive characteristics, earnings results for 1Q2011 for the two largest real estate investment trusts (REIT) on the local bourse were broadly in line with market expectations. No major surprises.

CMMT cmpletes first post-listing acquisition

CapitaMalls Malaysia Trust (CMMT) — the second largest REIT on the local bourse by market capitalisation — has just completed its first property acquisition si [...]

Bertam Alliance Inks Deal for RM400m Mixed Development Project

ella@thinkproperty.my — Tue, 10 May 2011 07:22:43 +0100

Extract from The Edge (09/05/11)

KUALA LUMPUR: BERTAM ALLIANCE BHD []’s unit has inked a joint development agreement for a mixed development project of residential and commercial shoplots in Johor with a gross development value (GDV) estimated at no less than RM400 million.

In a statement Monday, May 9, Bertam said its wholly owned unit UH Capital Sdn Bhd had entered into an agreement with GJH Development Sdn Bhd for the joint development of 270 acres of land at Mukim [...]

Naza TTDI to Launch TTDI Grove East by Year-End

ella@thinkproperty.my — Sat, 30 Apr 2011 08:49:37 +0100

Extract from The Edge (29/04/11)

KUALA LUMPUR: Naza TTDI Sdn Bhd, the property arm of the Naza Group, plans to launch a premium phase of its 113-acre (45.73ha) TTDI Grove project in Kajang, Selangor, by year-end.

To be known as TTDI Grove East, the premium phase will feature 36 semi-detached homes and 128 link houses on terraces carved into slopes, said senior general manager of marketing and sales Mohd Johan Shadzli Mohd Daud.

The semi-detached units [...]

Residential Property Prices May See Some Correction This Year

ella@thinkproperty.my — Sat, 30 Apr 2011 08:38:36 +0100

Extract from The Edge (29/04/11)

KUALA LUMPUR: Residential property prices may see corrections this year. Having escalated too quickly last year, property prices may soften for certain products in certain locations, said Swhengtee International Sdn Bhd founder and president Gavin Tee.

“It will depend on the type of property and location. You have seen prices rising since 2007, and last year’s level was especially high. Areas that don’t normally have high a [...]

Guocoland Sells 40% of Commerce One Before Launch

ella@thinkproperty.my — Sat, 30 Apr 2011 08:35:26 +0100

Extract from The Edge (29/04/11)

KUALA LUMPUR: Guocoland (Malaysia) Bhd’s Commerce One corporate office development along Jalan Klang Lama, Kuala Lumpur, has been 40% sold ahead of its launch next week.

The developer said the 21-storey office building will house 222 units of modern office suites with sizes between 500 sq ft and 1,700 sq ft. Prices are from RM430 psf.

Units with built-up from 1,138 sq ft facing Jalan Klang Lama (5th mile) c [...]

Swiss-Garden to Open More Hotels in Malaysia

ella@thinkproperty.my — Sat, 30 Apr 2011 08:25:24 +0100

Extract from The Edge (29/04/11)

KUALA LUMPUR: Swiss-Garden International Hotels, Resorts & Inns will open five new hotels in Malaysia in the next two to three years. The hotels will be in Butterworth, Penang; Cameron Highlands; Senai, Johor; Kota Kinabalu, Sabah; and Kuantan, Pahang.

“We are also looking for opportunities to set up hotels in countries like Vietnam, Cambodia and Thailand in the next three to five years,” said group general ma [...]

Melaka�s New RM2b Landmark

ella@thinkproperty.my — Sat, 30 Apr 2011 08:00:18 +0100

Extract from The Edge (29/04/11)

KUALA LUMPUR: Hatten Group Sdn Bhd is stamping its mark in Melaka with a RM2 billion mixed commercial development known as Hatten City.

“The 20-acre project will be the largest new development in the historical city,” said Hatten Group managing director Colin Tan.

The project is situated just 2km from Dataran Pahlawan Melaka Megamall in Melaka Raya, currently the largest mall in Melaka, also by the developer.

Cautious Optimism in KL Property Market

ella@thinkproperty.my — Sat, 23 Apr 2011 08:37:02 +0100

Extract from The Edge (22/04/11)

KUALA LUMPUR: Sentiment in the Kuala Lumpur residential property market is a mix of optimism and caution as prices of new property launches continue to escalate while affordability is declining for the average house buyer, according to DTZ Research�s Property Times KL 1Q2011 report.

�Developers are generally optimistic with planned new launches. However, with prices and affordability moving in different directions, the [...]

OCR�s First Residential High-Rise Project a Success

ella@thinkproperty.my — Sat, 23 Apr 2011 08:29:54 +0100

Extract from The Edge (22/04/11)

KUALA LUMPUR: A 25-storey condominium project with an interesting concept is coming up off the Old Klang Road in Kuala Lumpur.

Since it started selling in early January, Residence 8 @ Kuala Lumpur has achieved a 70% take-up rate, its developer, Ong Chong Realty Sdn Bhd (OCR) managing director, Billy Ong, told The Edge Financial Daily. OCR is confident that the development will be fully sold by the end of the year.

Situat [...]

MDC Wants the My First Home Scheme to be Expanded

ella@thinkproperty.my — Sat, 23 Apr 2011 08:13:19 +0100

Extract from The Edge (22/04/11)

KUALA LUMPUR: The Malaysian Developers’ Council (MDC) wants the government to expand the coverage of the newly launched My First Home Scheme.

It proposed that the RM100,000 minimum housing price for eligibility under the scheme be lowered to benefit lower income homebuyers of medium low-cost housing, said MDC in a statement. The eligibility however, should exclude low-cost housing.

Under the scheme launched by the government [...]