Higher profit for Mah Sing

Mah Sing Group Bhd, which had unbilled sales of RM5.26bil as at Dec 31, 2014, finished the year strongly with a net profit of RM84.55mil for its fourth quarter, a 20% increase from the RM70.70mil it had registered in the previous corresponding period.

Unbilled sales refers to revenue which has been recognised but not billed to the purchaser.

Trinity Group eyes listing

Developer ready to go into bigger market

Boutique property developer Trinity Group Sdn Bhd is mulling a listing on the Main Market of Bursa Malaysia to beef up its financial muscles and market prowess, and may initiate the listing process later this year or early next year.

IJM confident in spite of property market slump

It believes with the right product proposition and pricing, its projects will sell

IJM Land Bhd is confident its real estate offerings will continue to thrive in spite of the slowdown in the property market.

Tropicana's focus on Klang Valley

Tropicana Corp Bhd intends to focus more on development activities within the Klang Valley this year, where it has more than 1,000 acres of development land, with potential gross development value (GDV) of RM24.5bil.

“These include the 863-acre Tropicana Aman in Canal City which is earmarked for an integrated township with potential GDV of RM13bil for which the maiden launch is expected this year,” it told Bursa Malaysia.

Kwasa awards first bumi housing project to Impiana

Kwasa Land Sdn Bhd has awarded its first bumiputra project to develop residential housing to Impiana Land & Development Sdn Bhd.

This is also the first residential project award by the master developer of the 2,330-acre Kwasa Damansara township in Sg Buloh, which was formerly owned by the Rubber Research Institute Malaysia (RRIM).

Johor Baru to get 80,900 high-rise residentials

Authorities in Johor Baru have approved 80,900 units of high-rise residentials, of which 8,000 are currently being constructed, said KGV International Property Consultants.

This figure is expected to increase to about 90,000 units by 2017.

Pudu jail development takes on Malaysian perspective

From a morbid historical site to an upcoming iconic Malaysian integrated development, UDA Holdings Bhd chairman Datuk Johari Abdul Ghani explains how he got the project to transform the former Pudu jail site into a multi-billion ringgit mix-development, the Bukit Bintang City Centre (BBCC).

“The project has taken a different approach now as all partners are Malaysians – it will be a Malaysian project. Previously, it was a proposal by a foreign entity from China and now with Eco World Development Group Bhd and Employees Provident Fund (EPF) in the consortium, it makes a lot of difference to develop the site as well as not to steer away from our social responsibility agenda.

Negri to launch portal listing bumi units in projects

Developers here will soon be compelled to publish details on bumiputra units they intend to build in their respective projects, says Mentri Besar Datuk Seri Mohamad Hasan.

The information will be included in a state government-managed portal that would be launched soon.

UDA to get RM1bil as development rights for Bukit Bintang City Centre

UDA Holdings Bhd will receive RM1bil as development rights for the transformation of the former Pudu jail site into the multi-billion ringgit Bukit Bintang City Centre.

UDA, which is the landowner, had on Wednesday signed a development rights with the special purpose vehicle (SPV) -- BBCC Development Sdn Bhd (BBCC) – which will undertake the project which will cover 19.4 acres.

Demand still high for prime land

A file picture shows the German ambassador’s former residence at Jalan Kia Peng. The property is selling at an estimated RM200mil.

Land in prime locations continue to attract huge interest from developers despite signs of a slowdown in the property sector.

Three new towers in KLCC

Plans to develop three new high-rise buildings near the Petronas Twin Towers in the Kuala Lumpur City Centre (KLCC) are speeding up, with tender documents for sub-works to be issued in a few months, according to sources.

These developments are said to complement the twin towers, and are unlikely to be taller than the iconic buildings.

Eco World to ink deal on RM8bil BBCC project

Eco World Development Group Bhd (Eco World), UDA Holdings Bhd (UDA) and the Employees Provident Fund (EPF) board will be signing a tripartite agreement tomorrow to jointly develop the Bukit Bintang City Centre (BBCC) project with a gross development value of RM8bil.

The BBCC project, a redevelopment of the 19.4-acre former Pudu jail site, will comprise a mixed residential and commercial development with a proposed world-class master plan, consisting strata offices, office towers, a hotel and serviced residences.

Mixed reactions over redevelopment of flats

The news of the redevelopment of the Sri Pahang low-cost flats in Jalan Bukit Bangsar has generated mixed reactions from stakeholders in the affluent neighbourhood, with most welcoming any move to bring the area out of its slum-like state, but not without pre-consultation.

“There should be public consultation and town hall meetings to seek our feedback under LA 21,” said House Buyers Association honorary secretary-general Chang Kim Loong.

Mixed views on house prices

There are mixed views on whether the price of houses will go up, come down or remain the same when the Goods and Services Tax (GST) kicks in on April 1.

Customs Department director of GST Datuk Subromaniam Tholasy “presumes house prices may even fall” while Real Estate and Housing Developers Association (Rehda) chairman Datuk Ng Seing Liong believes it will rise.

Hua Yang to buy MRR2 land

Hua Yang Bhd has bought 8.09 acres of leasehold land along the Middle Ring Road 2 (MRR2) to build a high-rise mixed development project with an estimated gross development value (GDV) of RM800mil.

In a filing with Bursa Malaysia, the Ipoh-based property developer said the parcel of land situated towards north Kuala Lumpur was in a well-established area with high potential for population growth.

MK Land to develop land Damansara Perdana land with Mammothpsj

Saujana Triangle Sdn Bhd, a unit of MK Land Holdings Bhd, and Mammoth Empire Land Sdn Bhd have inked a deal to jointly develop a mixed development project on an 11.78-acre plot of land in Damansara Perdana here.

In a filing with Bursa Malaysia, MK Land said under the agreement, Saujana Triangle wasentitled to RM82.12mil for contributing the leasehold land - at RM160 psf - or 22% of the gross development value (GDV) of the development project, whichever shall be the higher. Mammoth Empire Land will be the developer of the project.