Extract from The Star (25/2/2014)
KUALA LUMPUR: The oversupply of real estate in the country is only a short-term situation, which will clear over time, says Malaysian Institute of Estate Agents president Siva Shanker.
As long as the local economy is healthy and not in a tailspin, the property market will withstand the pressures of speculation and the curbs imposed by Budget 2014, he said.
“Mont Kiara (excluding the surrounding Segambut areas) has in the last 20 years built an estimated 20,000 units. Iskandar Malaysia, on the other hand, has built some 40,000 units in the last three years. All this has created a lot of pressure on supply and the market has already adjusted by staying away,” he told a press conference.
“In the short term, this oversupply will continue to run its course. Many units that will be placed in the market won’t sell. But in the second half following this period of consolidation, people will come to terms with the market, so 2015 will see an upturn in the property sector, which will continue into 2016. Even in the medium term, much of the oversupply will sort itself out,” Siva said.
- Created on Tuesday, 25 February 2014 06:57
Extract from New Straits Times (24/2/2014)
MORE BALD PATCHES APPEARING: It wants full mapping of the area to be carried out
GEORGE TOWN: THE state government should stop all developments earmarked for Penang Hill pending a detailed study by the authorities to prevent further land clearing by owners.
Penang Malaysian Nature Society (MNS) chapter adviser D. Kanda Kumar said full mapping of the hill land must be carried out.
The public must be informed about hillslope developments.
Kanda said this would enable eco-friendly and sustainable development for the hill.
- Created on Monday, 24 February 2014 05:56
Extract from New Straits Times (22/2/2014)
KUALA LUMPUR: Pan Malaysian Industries Bhd's wholly-owned Fairway Properties Sdn Bhd has completed the sale of land and a 15-storey building in Jalan Changkat Ceylon, Kuala Lumpur, for RM60 million.
The company said in a filing to Bursa Malaysia yesterday the assets were sold to Admiral Gateway Sdn Bhd, a land and property investment company.
- Created on Monday, 24 February 2014 05:25
Extract from The Star (21/2/2014)
KUALA LUMPUR: Ho Hup Construction Co Bhd is close to securing a US$60mil (RM198mil) sewerage and township contract in Iraq.
“We will continue to see good deals flow from Iraq where we have 30 engineers. We see good work and payment from there.
“Returns are quite good and we share the risks with our Iraqi partners,” executive director Derek Wong (pic) said in an interview.
According to a report from UOB KayHian Research Malaysia, about 80% of Ho Hup’s current orderbook worth RM407mil comes from Iraq consisting of a RM252mil work to build a water treatment plant and RM61mil road job.
- Created on Friday, 21 February 2014 07:30
Extract from The Borneo Post (19/2/2014)
KUCHING: There have been mixed views on the impact of the implementaion of a new policy to curb property bulk buying, with some analysts believing there will be significant impact on the real estate sector while others believe it will not really affect the property sector.
According to analyst Loong Kok Wen from RHB Research Institute Sdn Bhd (RHB Research), in regards to the real estate sector, if added,it will slow down property sales even further in a market that is already feeling the pressure of the 30 per cent real property gains tax (RPGT).
“We understand that many developers have bulk buyers under the Property Investors Club (PIC) concept, but in general, we can expect developers with more high-rise projects in their product portfolio to be more vulnerable,” Loong said.
This included players such as UEM Sunrise Bhd, Mah Sing Group Bhd, UOA Development Bhd and, to a limited extent, SP Setia Bhd, Sunway Bhd and IJM Land Bhd.
- Created on Thursday, 20 February 2014 07:00
Extract from Business Times (20/2/2014)
SINGAPORE: CapitaLand Ltd, Southeast Asia's biggest developer, said fourth-quarter profit fell 46 per cent after it recorded a loss on lower revenue from its Singapore home sales and the sale of a stake in Australand Property Group.
Net income declined to S$142.9 million (RM373 million) in the three months ended December 31, from S$262.7 million a year earlier, the group said in a stock exchange statement yesterday.
Revenue slid 2.3 per cent to S$1.09 billion. Full-year profit dropped 8.7 per cent to S$849.8 million while operating profit rose 43 per cent to S$527.7 million, it said.
"Operating profit was below our expectations," said Vikrant Pandey, an analyst at UOB Kay Hian Pte, here. He had estimated operating profit at S$596 million for the year.
- Created on Thursday, 20 February 2014 05:31
Extract from Business Times (19/2/2014)
Malaysia's property sector could be staring as some downside if plans to curb bulk buying take shape, RHB Research said in a report.
Traditionally, bulk buying is done via property investors club (PIC), and in recent months foreign buyers from China, Singapore and South Korea have bought some of the country's best properties using the PIC concept.
According to the research house, high-rise projects as well as those in Iskandar Malaysia, Johor, could face more pressure, with sales already slowing due to the 30 per cent real property gains tax.
"Given the news, some downside in property stocks is possible, but will be minimal as sector valuations are already cheap," it said.
- Created on Wednesday, 19 February 2014 06:28
Extract from Bernama (18/2/2014)
KUALA LUMPUR: The ongoing PKNS Property Collection 2014 at the SACC Mall in Shah Alam, from Feb 14-March 9, has managed to record sales of RM8.6 million so far.
PKNS Public Relations Manager, Ishak Hashim said one of the projects which recorded the highest sales was Pinang Heights condominium, a project which combined important elements of the Green Building Index.
"Pinang Heights, which is situated in Section 18, Shah Alam, is exclusively made of only 60 units complete with swimming pools, 24-hour security and other condominium facilities.
"The 1,238-1,421 sq ft units are suitable for those who plan to buy for investment or for themselves," he said in a statement.
- Created on Wednesday, 19 February 2014 05:56
Extract from Bernama (18/2/2014)
JOHOR BAHARU: Johor's property market is expected to see a pick-up in demand, alongside construction activities related to it by mid-year.
Johor Real Estate and Housing Developers' Association of Malaysia (Rehda)chairman Koh Moo Hing said demand for property in the state was still high, but buyers and developers are awaiting more possible "cooling" measures to be introduced.
"I believe it will take a few more months before they chart the trend(for the property market) here.
"With the cooling measures introduced last year, as well as the Johor state government's initiatives, both groups will assess the situation further," he told Bernama.
- Created on Wednesday, 19 February 2014 05:30
Extract from Business Times (18/2/2014)
KUALA LUMPUR: YTL Corp Bhd's hospitality arm, YTL Hotels & Properties Sdn Bhd, aims to expand the Vistana hotel chain nationwide over the next few years.
Deputy managing director Datuk Yeoh Seok Kian said YTL Hotels is also eyeing luxury hotel brands to include in its classic collection.
YTL Hotels owns and manages a collection of hotels and Spa villages locally and in Thailand, Indonesia, China, Japan and Europe.
These include Pangkor Laut Resort, Cameron Highlands Resort, Tanjung Jara Resort, The Majestic Hotel Kuala Lumpur, The Majestic Malacca, Ritz Carlton Kuala Lumpur and JW Marriott Kuala Lumpur.
- Created on Tuesday, 18 February 2014 07:05