I-City developer confident of hitting RM500mil sales target

I-Bhd, the master developer of i-City, is confident of sustaining double-digit sales growth to nudge it towards its target of RM500mil in annual revenues in three years.

The revenue growth would come mainly from its property development segment.

Living the high life in KL

Pavilion Suites Kuala Lumpur will add to the vibrancy of the city centre

Need to make a reservation for a limousine, yacht or private jet? Just dial the Pavilion Suites Kuala Lumpur couture concierge and your request will be attended to.

Consortium to build Bandar Malaysia

Consultant makes assumption based on huge size of land involved

Property consultancy CH Williams Talhar & Wong says Bandar Malaysia will likely be developed by a consortium of developers.

Meda Inc in KL mixed development project

Property developer Meda Inc Bhd is buying two neighbouring parcels of freehold land in Kuala Lumpur from BCM Holdings Sdn Bhd for RM180mil.

The company plans to build serviced apartments and commercial property there with an estimated gross development value (GDV) of RM881.9mil.

Bina Puri to build twin towers in Iskandar

Bina Puri Holdings Bhd will build two blocks of 23-storey office towers in Medini’s central business district, Iskandar Malaysia, Johor costing RM195mil.

The company said the skyscraper project to be completed within 29 months will be developed by its wholly-owned subsidiary, Bina Puri Sdn Bhd.

Crest Builder to focus on property development

Construction firm Crest Builder Holdings Bhd, which has an orderbook of RM350mil, will focus on property development to make better profits.

Executive director Eric Yong said the company’s property division, which contributes 70% to earnings, would take the lead despite the soft property market.

Jakel unveils maiden property project

Jakel is associated with a successful textile retailer. But not many people are aware that the family-run business is embarking on a new business venture in property development.

Parked under Jakel Development Sdn Bhd, the company launched its maiden residential property project in Cheras, Kuala Lumpur, last month.

Mulpha Land changes name to Thriven Global

Mulpha Land Bhd, which has seen the entry of new major shareholders since early last year, has changed its name to Thriven Global Bhd.

“The new name reflects our forward moving direction,” said executive chairman Datuk Fakhri Yassin Mahiaddin.

Mah Sing focuses on affordable homes in Klang Valley

Mah Sing Group Bhd will remain focused on affordable homes, priced below RM1mil, especially in the Klang Valley, due to the overall cautious sentiment.

Managing director and group chief executive, Tan Sri Leong Hoy Kum said on Thursday: “We have to sell what people want to buy and our strategy of reaching out to the mid-range mass market is in line with current market needs amidst the challenging property market.”

Finding gems in mature areas

Even as the dust starts to settle after the implementation of the goods and services tax (GST) that kicked in last month and the vision on the ground gains greater clarity, it is becoming obvious that while some developers are choosing to delay their launches, there are still some savvy ones who are tilting towards more positive sentiments. These developers are willing to take the bull by the horns by launching their projects to the market in these uncertain times.

Mah Sing expects property sales to pick up in H2

Mah Sing Group Bhd is hoping for the property sales momentum to pick up in the second half of the year, as softer consumer sentiment and tighter housing loan processing conditions affect the housing market.

“At this juncture, it is still premature to revise or adjust our sales target,” said executive director Datuk Steven Ng Poh Seng after the company’s AGM.

Eco World scraps SPAC plan

Eco World International Bhd (EWI) withdrew its application today which was submitted last October to be listed as a special-purpose acquisition company (SPAC), said its executive vice-chairman Tan Sri Liew Kee Sin.

Liew told a press conference that EWI would instead pursue an alternative listing route “in a couple of months” by submitting an application to the authorities for an initial public offering (IPO) and listing of its shares on the Main Market of Bursa Malaysia based on the market capitalisation route of at least RM500mil.

S P Setia expects higher earnings

Property developer S P Setia Bhd, is expected to see another lumpy gain in the second half of this year when it hands over the second block of its Australian project.

Its second-quarter net profit was markedly higher at RM227.20mil, compared with RM74.27mil a year earlier due to the handover of its first residential block in Fulton Lane, Melbourne.

Johor's latest property hot spot

The Eastern Gate Development Zone, one of the five flagship areas in Iskandar Malaysia in Johor, has been touted as the next property hotspot in the state.

“To us, the zone is like a diamond in the rough waiting to be cut and polished for the shine and sparkle to emerge,” Eco World Development Group Bhd president and chief executive officer Datuk Chang Khim Wah told StarBiz.

A good mix of showcase at StarProperty Fair

The first day of the StarProperty.my Fair at Tropicana City Mall saw a large crowd of visitors eager to view the latest projects by more than 20 renowned exhibitors. Among the developers present were Glomac Berhad, IJM Land, Nusmetro Ampang Sdn Bhd, UEM Sunrise Berhad, Matrix Concepts Holdings Berhad, Mah Sing Group, Sime Darby Brunsfield and DK-MY Properties Sdn Bhd.

Visitors to the StarProperty.my Fair were treated to a wide variety of showcases ranging from landed properties to high-rise serviced apartments and commercial units. Also at the fair are developers offering affordable homes such as ASPIRASI (a wholly owned subsidiary of Syarikat Perumahan Negara Berhad (SPNB), i-City and Mah Sing.

New state housing policy gets mixed reaction

Developers hope policymakers consider possible implications on Negri Sembilan’s property market

The new housing policy in Negri Sembilan is causing a stir, with speculation that it could mean higher prices for homebuyers and the exit of some developers from the state.

Damansara City to fully operate by Q2 2016

The RM2.5bil Damansara City (DC), the flagship development of Guocoland (M) Bhd, is set to operate fully by the second quarter of 2016.

Sprawled over 3.44ha in Damansara Heights, the project consist of two high-rise residency towers, two Grade-A office towers, a lifestyle mall and a five-star hotel. It is expected to attract more than 10,000 patrons daily.

Tropicana Metropark’s central park worth RM800mil, total GDV RM7bil

Tropicana Corp Bhd’s 88-acre freehold integrated development, Tropicana Metropark in Subang Jaya, contains a 9.2-acre central park that is worth RM800mil.

The real estate developer carved out the portion of the land from the development to add value and a sense of wholesomeness to it.

Paramount sales up despite GST

Amid concerns that the goods and services tax (GST) could cause a slowdown in property sales, this was the reverse for property and education group Paramount Corp Bhd.

The group’s property division posted new property sales of RM157mil in the first quarter of 2015 from RM317mil in 2014. These were from ongoing projects, namely Sejati Residences, Paramount Utropolis, Sekitar26 Business and Bukit Banyan and Bandar Laguna Merbok.

Kwasa Land seeks potential partners for iconic township

Kwasa Land Sdn Bhd is calling for another round of pre-qualification of potential development partners for its 2,330-acre iconic township development Kwasa Damansara.

Kwasa Land, which is a unit of the Employees Provident Fund (EPF), said on Monday it was seeking three categories of developers to join Kwasa Land develop the township over the next 15 years to 20 years. It is expected to generate a gross development value (GDV) of RM50bil.