Southeast Asia Landmark to bank on location

Kuala Lumpur-based developer Southeast Asia Landmark Sdn Bhd is banking on the location of its newly launched project to attract potential buyers.

Executive director Michael Tan Shyue Jing said the location of the project – Ramada Suites@The Straits – within the quiet and peaceful surroundings of Jalan Abdul Samad, was a strong selling point.

Fajarbaru plans RM728m projects

Small-cap contractor Fajarbaru Builder Group Bhd has property projects with a gross development value (GDV) of RM728mil in Malaysia.

Besides that, its first overseas joint-venture project in Melbourne, which has a GDV of A$77mil (RM215.6mil), has seen a take-up rate of 80%.

Transforming the urban landscape

The city skyline, once filled with generic concrete buildings, looks all set to change with glittering towers that soar majestically above the rest.

Gleaming skyscrapers tower over a vast concrete jungle landscape, glittering like stars at night. Kuala Lumpur is undoubtedly a magnet for international corporations and their professionals, along with tourists and expats. It’s no surprise that foreign investors are attracted to the excellent infrastructure, rich cultural melting pot and a competitive currency exchange rate.

Khind eyes diversification into property development

Electrical product manufacturer Khind Holdings Bhd has proposed to diversify into property development, property construction and property investment.

In a filing with Bursa Malaysia, the company said it had transferred a vacant 6,070 sq m (65,340 sq ft) freehold land in Setia Alam, Shah Alam, to unit Khind Properties Sdn Bhd last month for mixed-use development with an estimated gross development value of RM150mil.

Concern over abandoned project

Talk of the town: The Boss development project, a high-rise residential hotel suite with commercial space in Klang, kicked off in 2012 but work came to a halt in mid-2014.

Construction work on The Boss, one of Klang’s most talked about development projects, has been abandoned halfway, dealing a cruel blow to 300 investors who were initially guaranteed huge returns on their properties.

MKH strategy pays off

New landmark: An artist’s impression of Kajang 2. MKH’s property crown jewel is the 220-acre Kajang 2 flagship development, where more projects would be rolled out closer to the completion of the MRT in 2017.

MKH Bhd’s focus on developing affordable homes will help the company continue to generate steady earnings despite the slowdown in the local property market.

Tropicana to launch phase two of Tropicana Aman in August

Tropicana Corp Bhd will launch the second phase of its mixed township development Tropicana Aman in Shah Alam next month.

In a statement, the property developer said the first phase of Tropicana Aman – called Arahsia Residences, which comprised 432 units of link homes, with a gross development value of RM342mil – had already been fully taken up since its launch in May 2015.

OSK Holdings serves notice on takeover offers

Strategic exercise: An artist’s impression of one of OSK Property’s projects called Pangaea in Cyberjaya that is due to be completed by 2020. OSK Holdings is offering RM1.95 per share for the remaining 67.45 million OSK Property shares not held by it and parties acting in concert.

OSK Holdings Bhd has served a notice of unconditional mandatory takeover offer to OSK Property Holdings Bhd and a conditional voluntary takeover offer to PJ Development Holdings Bhd (PJD) to acquire the shares in both property firms that it does not own.

Nexgram gets delivery order for RM1.15bil 'Angkasa Icon City"

Nexgram Holdings Bhd has obtained the development order from the Sepang Municipal Council for the RM1.15bil “Angkasa Icon City” project in Cyberjaya, according to a filing with Bursa Malaysia.

Nexgram’s subsidiaries – Nexgram Land Sdn Bhd and Nextnation Datacity Sdn Bhd – had entered into an off-take-cum-sale and purchase agreement with MyAngkasa Bina Sdn Bhd last December.

1MDB's KL Bandar Malaysia project eyed by local and foreign developers

Several top local and foreign developers who have projects in Malaysia, have made known their interest in 1Malaysia Development Bhd’s (1MDB) Bandar Malaysia project here.

A statement from transaction adviser CH Williams Talhar & Wong said they received “strong interest”, with some “40 parties, including some consortiums”, answering the project’s call for expression of interest after the July 10 deadline.

GuocoLand’s options open on monetising Damansara City Mall, talks with Lim fails

GuocoLand (Malaysia) Bhd is keeping its options open on how to monetise its Damansara City mall in Damansara Heights. The mall is located strategically at the massive development that is taking shape and which is seen as a viable alternative to Bangsar with two MRT stations being built at its vicinity.

Known as Damansara City Mall, or DC Mall, it is in its last lap of completion and is scheduled to be operational by the second quarter of next year. It has attracted tenancy of about 60%.

Sunway on track to achieve its goal

Property and construction group Sunway Bhd that has unbilled sales of RM2.5bil as of March, will adopt a wait-and-see approach and plan its property launches accordingly amid the soft property market.

Its property division managing director Sarena Cheah said due to the uncertain market sentiments and the revisions made to the Strata Title Act 1985, the group expected the upcoming property launches to be delayed.

Weaker ringgit will boost foreign investment in property sector, says developer

A weaker ringgit will attract more foreign investment into the country's property sector, Guocoland (Malaysia) Bhd managing director Tan Lee Koon said on Thursday.

The property arm of Hong Leong Group expects the current exchange rate scenario to spur demand for luxury residences in its Damansara City development, which has a gross development of RM2.5 billion.

Sunway to apply wait-and-see approach on property launches

Sunway Bhd, which has an unbilled property sales of RM2.5bil as of March, will apply a wait and see policy and plan its property launches accordingly amid the soft property market.

Its property division managing director Sarena Cheah said due to the uncertain market sentiments and the recent Strata Title Act, it has impacted its property launches in terms of timing.

UEM Sunrise inks deal for Hyatt House Hotel in Mont Kiara

UEM Sunrise Bhd's wholly-owned subsidiary, Arcoris Sdn Bhd, has inked a management agreement with an affiliate of Hyatt Hotels and Resorts for a Hyatt House hotel in Mont Kiara.

Expected to be opened in 2017, Hyatt House Kuala Lumpur, MontKiara, will mark the first Hyatt House hotel in Malaysia, said UEM Sunrise in a statement.

UEM Sunrise bets on landed properties

UEM Sunrise Bhd sees demand for landed residential properties in Iskandar Malaysia remaining good, as most prospective property buyers still prefer this type of properties.

Acting chief marketing officer Zadil Hanief Mohamed Zaidi said on that note, the company was upbeat that its new project, Estuari Gardens @ Puteri Harbour, would do well based on buyers’ preference.

1MDB land spurs interest

1Malaysia Development Bhd’s (1MDB) land parcels have generated a lot of interest.

In two separate statements, 1MDB said it had received “a lot of enquiries for its Bandar Malaysia land” and “proposals” for its land in Air Itam in Penang and Pulau Indah near Port Kiang, Selangor.