Property News

The local property sector is expected to revive to pre-pandemic levels in tandem with the economic recovery, says Public Investment Bank Research. Its analyst Tan Siang Hing said in a note today that the property sector will recover, with herd immunity expected by end-2021. Tan expects the property sales momentum to continue in the second half of 2021 (2H2021) as the vaccination programme gains ...

Online "shopping" remains a hot trend for those who are looking to purchase a residential unit, either landed or high-rise, amid the ongoing Covid-19 pandemic Further, the ongoing initiative by the government and incentives given by property developers is encouraging potential home seekers to buy a property now instead of spending their money elsewhere. There are several government ...

Sime Darby Property Bhd says there is a growing demand for the company's residential landed type of products and this is based on buying trends among its existing customers. Its group managing director, Datuk Azmir Merican said looking at this trend the company will strive to meet its client's needs with new and existing products in that segment of the property market. Azmir said the ...

 Bank Negara Malaysia has maintained the Overnight Policy Rate (OPR) at 1.75 per cent at its second Monetary Policy Committee (MPC) meeting today. The central bank's MPC considers the stance of monetary policy to be appropriate and accommodative. "Given the uncertainties surrounding the pandemic, the stance of monetary policy going forward will continue to be determined by new ...

WHILE the Malaysian property market has been generally quite soft over the past few years, the industrial sub-sector seems to be bucking the trend and gaining a fair bit of attention of late. Earlier this week, Savills in its Asia-Pacific Investment Quarterly report for the first quarter of 2021 (Q1) revealed that major investment transactions in Malaysia grew 53% year-on-year to RM1.46bil in ...

Axis Real Estate Investment Trust (Axis-REIT) has completed the acquisition of a leasehold property within the Bukit Raja industrial zone in Klang, Selangor for RM37 million. The property comprises 5.6-acre land with two blocks of detached factory and a double-storey office building. It was acquired from Lion Steelworks Sdn Bhd, a unit of Lion Corp Bhd. The net lettable area is 149,605 sq ft. ...

SEREMBAN 2, a 1,520-hectare freehold self-contained township by IJM Land Bhd was established in 1995 and is one of the most progressive and successful developments in Negri Sembilan. The multi-billion ringgit satellite township comprises a good mix of residential, commercial and light industrial properties. Being part of the Greater Klang Valley, the township has been realising its great growth ...

The Real Estate and Housing Developers' Association Malaysia or Rehda urge the government to introduce an all-encompassing force majeure exemption bill or a Covid-19 (Temporary Measures) Bill to lawfully protect players of all industries, including the property sector. Rehda president Datuk Soam Heng Choon said the Bill is much needed, to ensure that every party is safeguarded against any ...

Gamuda Land has partnered with Shopee, an e-commerce shopping platform, to sell houses online, amid the current Covid-19 pandemic. Its chief operating officer Aw Sei Cheh said through this exclusive promotion, customers will be able to browse and purchase selected Gamuda Land properties through Shopee, anytime and anywhere and discover attractive packages that the developer is currently ...

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 ...