Centro to be central in Kayu Ara area

The 7-acre mixed development will have a PJ Utara address

Glomac Bhd will be launching the second phase of its mixed commercial development Glomac Centro V this weekend, three years after it launched its first phase in 2012.

Tropicana unveils latest development

Property developer Tropicana Corp Bhd has unveiled its most ambitious development to date, The Residences, located above W Hotel at the heart of Kuala Lumpur.

The project, according to Topicana in a statement, offers “discerning and well-travelled purchasers an opportunity to own a piece of luxury on the last few parcels of premium freehold land in Kuala Lumpur City Centre.”

Catalysts for market growth

Artist impression of the Damansara Foresta project.

Sobering drive on the Sri Damansara-Sg Buloh-Kota Damansara loop

Six months ago, developers and certain property consultants were of the view that just before the implementation of the Goods and Services Tax (GST), there would be “a rush to buy”. In about ten days’ time, the GST will be upon us. No signs of the buying, though.

E&O to tie up with Japanese firm for apartment project

Niche property developer Eastern & Oriental Bhd (E&O) will be collaborating with a Japanese real estate group to develop a serviced-apartment project in the heart of Kuala Lumpur.

The company said in a filing with the stock exchange that it has entered into a shareholders’ agreement with Mitsui Fudosan Asia Pte Ltd (MFA) for the proposed joint venture via Patsawan Properties Sdn Bhd, an indirect subsidiary, for the development of the project over the 0.58-ha plot owned by Patsawan.

GST - a matter of interpretation

In 10 more days, Malaysia shall enter into a new era where the price tags that you are familiar with will never be the same. While it is certain that no consumer shall escape from the fate of the Goods and Services Tax (GST), not everyone fully understands the implication of the GST at this juncture. This is inevitable as even the authorities themselves are sharing the similar conflicting views on many concerns and apparently grey areas.

If you have not realised by now, the Royal Malaysian Customs Department (RMCD) is the authority to implement, supervise and collect GST. On the other hand, income tax and stamp duty, where most income earners are well versed with, are in the jurisdiction of the Inland Revenue Board (IRB). Besides submitting online income tax forms through IRB’s website, one may pay a visit to RMCD’s official GST webpage, where, despite the issued guidelines, there are also a panel and the director-general’s decisions published to act as guidance of the RMCD’s interpretation of the GST legislation. There is now a third dimension on how you conduct your business in Malaysia, from how you earn to how you spend.

Mall in PJ to be redeveloped

The near-empty SStwo Mall in Section 19, Petaling Jaya, is headed for redevelopment and a rebranding exercise.

According to Andrew Neary, general manager of Pramerica AsiaRetail, an entity under AsiaMalls Sdn Bhd which owns the shopping centre, it will be significantly reduced in size and be much more community-based with emphasis on provision of local services and better food.

RM11mil flyover in Puchong to open soon

A new flyover U-turn into Setiawalk, Puchong, is set to be open to the public by the end of this month.

The 300m long ramp, which connects from the turnoff from Lebuhraya Damansara-Puchong (LDP) to Persiaran Wawasan in Pusat Bandar Puchong, was built by SP Setia at a cost of RM11mil.

Oversupply of high-rise units in Johor unlikely

There will not be an oversupply of high-rise residential units in Johor despite the approval of over 80,000 such units as they will not be built simultaneously.

It was recently reported that the authorities in Johor had approved 80,900 units of high-rise developments, of which 8,000 were being constructed now.

Commercial sector clouded by uncertainties

Consultancy expects softer climate for first 10 months

Predictions are never easy, and today’s current property market is more difficult to fathom with several national and global wild cards on the table.

Slowdown in Klang Valley landed residential market expected

The Klang Valley market for landed residential is expected to experience a slowdown in 2015.

Despite that, prices of landed residential properties are unlikely to decrease, especially medium-priced houses where demand is most acute.

MRCB to sustain growth with 4 key projects this year

Property developer Malaysian Resources Corp Bhd (MRCB), which recorded its highest revenue and dividend payout since 2009, is expecting four key projects to sustain growth this year.

They are the 9 Seputeh project along the Old Klang Road, PJ Sentral and Q Sentral office block project in Petaling Jaya and The Sentral Residences at Kuala Lumpur Sentral.

MK Land to launch 2 projects this year

Property developer, MK Land Holdings Bhd, will launch two projects this year with a combined Gross Development Value of RM600mil, says group chief executive officer Lau Shu Chuan.

"There are still some pending approval pertaining to the projects but once we obtain them, we will launch the projects between April and June," he told reporters at the company's Chinese New Year celebration here today.

Office rental rates to remain stagnant

Rental rates for office space in the Klang Valley is expected to remain stagnant in 2015 due to anticipated incoming supply of nearly six million sq ft this year.

According to CH Williams Talhar & Wong’s (WTW), with the additional 5.89 million sq ft by year-end, it will continue to be a tenants’ market.