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H Simon Real Estate offers unique property in UK

Extract from Borneo Post (21/3/2015)

KUCHING: H.Simon Real Estate is offering Kuchingites a unique opportunity to invest alongside one of Australia’s billionaires via international developer, Golden Sands Development.

Platinum One is the best investment in UK. It is a mixed development located at Bradford, UK and only a minute walk to the Bradford University.

To highlight its attractiveness, a total of 37 units of studios and one bedroom have been sold last week.

For a total of RM280,000, the fully furnished apartment directly opposite Bradford University comes with an eight per cent guaranteed rental return for five years.

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Eco World on track to achieve RM3 bln in property sales

Extract from Borneo Post (21/3/2015)

KUCHING: Eco World Development Group Bhd (Eco World) is on track to achieve RM3 billion worth of property sales in financial year 2015 (FY15).

Analysts are optimistic that the property developer will be able to achieve its sales target in FY15 supported by strong unbilled sales amounted to RM3.1 billion and sales from new property launches.

AllianceDBS Research Sdn Bhd (AllianceDBS Research) yesterday said Eco World will be launching four new projects in FY15.

Those projects amongst others include a luxurious eco-themed mixed development project known as EcoSanctuary which is located south of Kota Kemuning in Shah Alam, Selangor with a gross development value (GDV) of RM8 billion, a residential enclave named EcoTropics at Iskandar Malaysia, Johor with GDV of RM3.4 billion, Eco Business Park 3 at Iskandar Malaysia with GDV of RM2 billion and a mixed residential development called EcoTerraces located at the Paya Terubong district in Penang with GDV of RM340 million.

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InvestPerak, Admanco to develop 80.93ha green aerospace park

Extract from The Star (20/3/2015)

PETALING JAYA: Perak’s principal agency InvestPerak has signed a memorandum of understanding (MoU) with Advance Manufacturing Co Sdn Bhd (Admanco) to develop a 80.93ha green aerospace park in Perak.

The park, known as Green Asia Aerospace Technology Park (GAATP), is situated in Sri Iskandar and will be developed in five phases.

“Clustering of high technology companies will reduce spatial disparities between the urban and rural areas.

“The cluster ecosystem allows for agglomeration where firms benefited from economies of scale and network effects,” InvestPerak deputy chairman Datuk Mohammad Zahir Abdul Khalid said during the MoU signing ceremony at the Langkawi Aerospace and Maritime 2015.

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Forest City size revised, GDV now cut to RM450bil

Extract from The Star (20/3/2015)

PETALING JAYA: Work at the high-profile Forest City project, which has seen its gross development value (GDV) cut by 25% to RM450bil, has recommenced after a halt since June 16 last year.

The acreage of the development, which has been revised twice, was reduced from its original 1,978ha to 1,386ha, the developer of the project Country Garden Pacificview (CGPV) said in a statement.

With the downsizing, the GDV of the project was expected to decrease to RM450bil from RM600bil initially.

It said construction work on the project had started again after the Department of Environment’s approval on the detailed environmental impact assessment (DEIA) in January and environmental management plan last month.

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Trading ideas: Paramount, Eco World, Pentamaster, PBA

Extract from The Star (20/3/2015)

KUALA LUMPUR: JF Apex Research expects Paramount, Eco World, Pentamaster and PBA Holdings to see some trading interest on Friday.

It said Paramount expects a double-digit growth in its topline and bottomline in the next five years, supported by strong property projects in its pipeline with a gross development value (GDV) of RM9.1bil. It also plans to increase its recurring income from its education business.

Eco World Development intends to launch four new projects in the upcoming months of its current financial year in order to achieve RM3bil sales target.

JF Apex Research said Pentamaster had purchased a piece of land in Seberang Perai to build a factory to cater for increase in production activities.

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1MDB Real Estate in partnership with Lend Lease

Extract from The Star (20/3/2015)

PETALING JAYA: 1MDB Real Estate (1MDB RE), the master developer of Tun Razak Exchange (TRX) in Kuala Lumpur, and international property group Lend Lease have sealed their partnership to develop the international financial district’s Lifestyle Quarter.

Both parties signed joint-venture agreements and a sale and purchase agreement yesterday in the presence of Prime Minister Datuk Seri Najib Tun Razak.

The Lifestyle Quarter will be developed in a 60:40 partnership, with Lend Lease having a majority stake.

With a gross development value of about RM8bil, it will be a mixed-use project of over 17 acres comprising a retail mall, residential towers and a hotel connected to a multi-layer central park and the largest mass rapid transit station in Kuala Lumpur.

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1MDB Real Estate, lend lease seal partnership to develop TRX Lifestyle Quarter

Extract from Bernama (19/3/2015)

KUALA LUMPUR: 1MDB Real Estate and Australian headquartered Lend Lease, have sealed their partnership to develop the Tun Razak Exchange's (TRX) lifestyle quarter, which will have a forecast gross development value (GDV) of RM8 billion upon completion.

1MDB Real Estate, the master developer for the TRX, will own 40 per cent of the partnership and Lend Lease, the rest.

"With this Lifestyle Quarter partnership sealed, 1MDB Real Estate will focus on delivering major infrastructure upgrades for the TRX and the Imbi area.

"This is with a view of accelerating the development of the TRX to meet strong and tangible demand," chief executive officer (CEO), Datuk Azmar Talib said.

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Investment properties lift Glomac profit

Extract from The Star (19/3/2015)

PETALING JAYA: Glomac Bhd posted a 3% increase in its net profit to RM23.4mil for the third quarter ended Jan 31 against RM22.71mil it recorded in the same quarter a year ago, on the back of a fair value gain on investment properties.

However, revenue during the quarter fell 40% to RM110.96mil, compared with RM183.72mil mainly due to the completion of Damansara Residences and tail-end projects in Bandar Saujana Utama.

While Glomac thinks the environment moving forward will be challenging, it hopes to perform satisfactorily with the unbilled sales in hand and future launches.

Nine-month net profit was 33% lower at RM57.41mil while revenue recorded a 39% decline to RM303.79mil from RM501.79mil.

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Eco World on track to achieve RM7b sales target

Extract from The Star (19/3/2015)

KUALA LUMPUR: Eco World Development Group Bhd is on track to achieve its RM7bil sales target over the financial years FY15 and FY16.

It said on Thursday the target would be supported by its six on-going projects and four new projects this year and several others planned for launch in 2016.

The four projects are Eco Sanctuary in Shah Alam, Eco Terraces in Penang, Eco Tropics and Eco Business Park III in Iskandar Malaysia.

“Eco Sanctuary in Shah Alam is slated to be the group’s flagship luxury eco township in the Klang Valley whilst Eco Terraces, an exclusive condominium development in Ayer Itam, will be the Group’s first project launch in Penang. 

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Hunza Properties climb to highest since December 2013

Extract from The Star (19/3/2015)

KUALA LUMPUR: Shares of Penang-based Hunza Properties Bhd rose to a high of RM2.18 on Thursday – the highest since December 2013 in the absence of any fresh corporate developments.

At 4.12pm, it was up 17 sen to RM2.11. There were 1.90 million shares traded at prices ranging from RM1.96 to RM2.18.

The FBM KLCI rose 10.42 points or 0.58% to 1,807.99. Turnover was 1.77 billion shares valued at RM1.376bil. There were 427 gainers, 360 losers and 306 counters unchanged.

At RM2.11, it is trading at a price-to-earnings of 11.56 times.

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