1Malaysia Development Bhd (1MDB) is near to sealing an agreement with a prospective partner to sell 60% of its shares in Bandar Malaysia Sdn Bhd before the year ends.
1MDB is now down to two bidders to choose from.
1MDB to close Bandar Malaysia deal by year end
Eversendai eyes steel works job of KL118 tower
The consortium of Samsung C&T Corp and UEM Group Bhd has secured the KL118 Tower project from the project owner, Permodalan Nasional Bhd, at a contract sum of RM3.4 billion.
The 118-storey skyscraper with a height of over 600m will be the tallest building in Southeast Asia upon completion by 2019.
KL office rental rates under pressure
A large supply of office space continued to weigh on rental rates in Kuala Lumpur, KL Fringe and Beyond KL (Selangor) in 3Q2015, while the overall market is expected to remain gloomy until year end.
This quarter, the cumulative supply of office space for KL City and Beyond KL stood at 91.97 million sq ft, following the completion of Ilham Tower with 394,000 sq ft of net lettable area (NLA), Menara Bangkok Bank (475,000 sq ft NLA) in KL City and Q Sentral (one million sq ft NLA) and The Vertical 1 & 11 (830,000 sq ft NLA), based on The Edge/Knight Frank Klang Valley Office Monitor 3Q2015.
Upscale villas in Shah Alam
Upon entering the gates of Kelab Golf Sultan Abdul Aziz Shah (KGSAAS) in Shah Alam, Selangor, a long tree-lined and picturesque driveway leads to the courtyards of Vila Elemen. Developed by Tekat Maju Sdn Bhd, the project will comprise semi-detached homes and bungalows, and promises to cater for those who covet exclusivity.
“Our vision is to create a better standard of living for our purchasers. A development like Vila Elemen does not come around often,” says executive director Kenneth Lee.
Phase 1 of 368 Residences to be launched in 3Q16
FCW Holdings Bhd said the 368 Residences project, which will be jointly developed with IJM Land Bhd on a 50:50 basis, will see its first phase launched in the third quarter of 2016.
FCW executive director Datuk Anderson Thor said the RM1.5 billion gross development value (GDV) development in Segambut, close to Mont Kiara, Jalan Kuching and Jalan Ipoh, will comprise three phases, with phase 1 to account for RM500 million of the total GDV.
Mah Sing starts work on 4 towers of Lakeville Residence project
Mah Sing Group Bhd has commenced works on four towers C, D, E and F of its Lakeville Residence project in Taman Wahyu, Kepong. Construction for Tower A and Tower B had started in 2014.
In a statement yesterday, the property developer said the project, which has an estimated gross development value of RM1.5bil is expected to be completed by end-2018.
MCT to transform One City's SkyPark into thematic mall
Property and construction player MCT Bhd’s SkyPark mall in the One City development, which is located in USJ 25 and surrounded by high-density areas like Subang Jaya and Shah Alam, will be transformed into a food and beverage-themed mall to attract more patrons.
MCT executive director Datuk Lim Kok Boon said the mall will focus on those who use the park and ride (P&R) facilities that will be provided in the surrounding One City township later.
Developer to offer holiday presents at its showroom
Agile Real Estate Development Sdn Bhd has many surprises planned for visitors to its Agile Mont Kiara Gallery during the Christmas holidays.
Those walking into its gallery and showroom in Mont Kiara on Dec 24 & 25 will be greeted by Santa and Santarina bearing a bag-full of mystery gifts.
Acacia Park’s third phase is 95% sold
The third phase of Acacia 2-storey terraced houses in Acacia Park, Bandar Tasik Puteri, Rawang, Selangor, is 95% sold since its launch on Nov 14.
The 2,670-acre township is developed by Rawang Lakes Sdn Bhd, a member of the Low Yat Group.
8 Conlay makes auspicious grand entrance
Setting the benchmark for Malaysia’s branded residences.
There are reasons why branded residences, such as 8 Conlay, are exemplary in their own right. In addition to accessibility and location, much thought has been put into design, sustainability and value for homebuyers and investors, resulting in conducive environments that enhance the quality of life for the residences’ inhabitants.
Standing strategically in the heart of Kuala Lumpur’s bustling Golden Triangle, 8 Conlay is a mixed-use development project with an estimated gross development value (GDV) of RM5.4 bil, targeted for completion by end of 2020.
YNH enters property development agreements with Fong Yu Investments
YNH Property Bhd’s unit, Kar Sin Bhd (KSB), has entered into an agreement with Fong Yu Investments Pte Ltd on the development of three parcels of land in Kuala Lumpur totalling 2.39 acres.
KSB, which is the turnkey contractor of the land, on Monday signed the agreement to sell 25/100 undivided share in the land to Fong Yu’s unit Ruby Premium Sdn Bhd (RPSB) as part of the development plan.
Flyover to open by February
The flyover linking the Federal Highway to Section 7 Shah Alam near i-City is expected to ease congestion in the residential and commercial area.
The much-delayed flyover linking the Federal Highway to Section 7 Shah Alam near i-City is expected to open by February next year.
The flyover’s project manager, PKNS Infra Bhd, said it would hand over the flyover to the Malaysian Highway Authority (LLM) and the Shah Alam City Council (MBSA) by mid-February.
Giving only the best
For most developers, handing over the keys to buyers is the endgame, but Datuk Eng Wei Chun believes in going further than that for customers of Orando Holdings Sdn Bhd’s projects.
“The success of a brand is all about how long-lasting it is, beyond the initial fanfare,” he said in an interview at the sales gallery of Orando’s current project, Villa Crystal.
Luxury residential project offers great view of golf course
The Vila Elemen development comprises 30 bungalows and 24 semi-detached villas.
Located at the heart of the Sultan Abdul Aziz Shah Golf Course (KGSAAS) in Shah Alam, Vila Elemen is a residential development that speaks of luxury and sophistication.
This housing development consists of 30 bungalows and 24 semi-detached villas with structural designs that reflect a contemporary and unique lifestyle as well as provide a 270-degree golf course view.
Coast still challenging for property market
Affordability, location and quality will steer demand.
With 2016 less than three weeks away, the coast is still not clear for the local property market as far as the prevailing uncertainties besetting the market are concerned. Ensuring that their property projects have the right differentiation factors of good location, quality and value, as well as meeting buyers’ affordability are some of the good industry practices that developers should subscribe to in such times.
SK Brothers Realty (M) Sdn Bhd general manager Chan Ai Cheng says with the global economic volatility, the performance of the property market will be driven heavily by the domestic market, which is currently affected by higher cost of living and the cooling measures introduced by the Government, especially on the financing side.
Favourable winds sought for Malaysian real estate
2016 to see support for affordable housing and end-financing, but more needs to be done.
Conditions in the Malaysian property market have been challenging to industry players, but recent developments to support the affordable housing market and the facilitation of end-financing for potential housebuyers are considered favourable to the real estate industry.
Sharing an overview of the property market in recent times, Real Estate and Housing Developers’ Association Malaysia (Rehda) president Datuk Seri Fateh Iskandar Mohamed Mansor points out that the gloomy global economy, falling crude oil prices, and slipping of the ringgit have resulted in cautious sentiments across various industries, with the real estate sector not being an exception. The property market, which had been bullish in the past few years, have slowed down throughout 2014.
I-Bhd to unveil King of the Hill
I-Bhd, the master developer of i-City (pic), will launch two new projects early next year.
I-Bhd, the master developer of i-City, will launch two new real estate projects in early 2016 which are the Hyde Towers @i-City and 8Kia Peng @KLCC.
In a statement on Friday, the property company said it would unveil on Jan 15 its last tower block located on i-City’s western parcel.
Selangor Dredging focuses on Malaysia, Singapore
Selangor Dredging Bhd will remain focused on the Malaysia and Singapore property markets for the time being, while it remains open to doing business in other markets. The property developer recently exited the UK market after its associate company SDB Guernsey Ltd entered into a sale and purchase agreement (SPA) with AL.AN SA for the sale of its freehold four-storey building in London.
Selangor Dredging managing director Teh Lip Kim notes that the timing of the sale was appropriate, taking into account the currency exchange rate. The property was sold at a premium.
IOI to launch Enigma Square in Bangi
IOI Properties Group Bhd will launch its next commercial offering Enigma Square in its new 370-acre township Bandar Puteri Bangi in January next year, said IOI Properties chief operations officer Teh Chin Guan (pictured) at the groundbreaking ceremony of Tesco Bandar Puteri Bangi today.
“Enigma Square has gross development value of about RM200 million and will comprise 93 units of 3-storey and 4-storey shop-offices. It is the second commercial development in the township after Kubica Square, which also comprises 3-storey and 4-storey shop-offices and are 90% taken up,” Teh said.
EcoWorld records RM3.02 bil sales for FY15
Eco World Development Group Bhd (EcoWorld) has surpassed its RM3 billion sales target for the financial year ended Oct 31, 2015 (FY15), after recording a total sales of RM3.02 billion for the year under review.
In a filing to Bursa Malaysia, the group, in announcing its latest quarterly results, said its fourth quarter ended Oct 31 (4QFY15) sales came in at RM924.2 million.
SP Setia full-year earnings jump to RM710mil
Property developer SP Setia Bhd posted a net profit of RM119.68mil for the fourth quarter ended Oct 31, 2015 on the back of increased revenue and profit recognition.
The company posted a 14.68% rise in revenue of RM1.41bil compared to the previous corresponding quarter.
S P Setia’s leadership uncertainty is over
Two years after Tan Sri Liew Kee Sin’s departure, we believe the prolonged uncertainty in S P Setia Bhd’s leadership is finally over.
Undoubtedly, after the exodus of staff and frequent changes in leadership had shaken investors’ confidence on the group’s capability in project execution, the group’s astounding nine months of financial year 2015 (9MFY15) results that saw its revenue and profit before tax growing 63% and 81% on year respectively proved that the group has an established system and process in place to ensure timely project delivery.
A concerto of life BCB Bhd brings cheer to North Kiara
Promising a new level of prestige in the affluent neighbourhood of Dutamas, Concerto North Kiara is an exclusive condominium development complete with all the trappings of luxury living. As refined as a masterpiece, completely harmonious akin to an orchestra, life in Concerto is an endless symphony.
Strategically located on a five-acre plot of freehold land in the Dutamas area, the northern side of Mont’ Kiara, Concerto North Kiara parades a contemporary three- tower façade. This fine exclusive collection of homes comprises 440 units, amidst the delightfully enchanting greenery located along Jalan Dutamas Raya.
Built for exclusivity and distinction, it offers a fusion of luxury, elegance and nature with beautiful landscaping, water features and recreational facilities. The development sings to the beauty of its natural surroundings with lush greenery, picturesque gardens and breathtaking architectural form.
Together gather
Coming together as a tight-knit community that places family and neighbourliness above all else is easier than ever at this gorgeous masterplan.
Home is where the heart is, and there’s no better place to fall in love with than Bandar Rimbayu. A home here at this integrated township is akin to coming back to a serene and private enclave, where everyone is able to relax and savour an enriching neighbourhood living style.
Located on a sprawling 1,879-acre piece of land, this premier development is inspired by the nostalgia for a time when life was simple, and people lived close to nature. Bandar Rimbayu will offer a wide range of products, from affordable quality homes and exclusive developments, to recreational, parkland and commercial components.
RM125mil high-rise project completed
Property developer OCR Noble Land (The Resident) Sdn Bhd has completed its RM125mil mid-rise residential development, The Resident@Ampang South.
The development is located in Taman Muda, Ampang.
80% units of i-City’s Parisien Tower taken up
Model of i-City township with current and proposed development.
i-City Properties organized an event for their latest project, Parisien Tower @ i-City, last weekend. The event held at i-Gallery received an overwhelming response with an amazing 80% of the units snapped up since the launch of the project in March 2015, despite the slow property market.
Parisien Tower @ i-City embodies French-styled homes, tailor-made for the modern urbanite, complete with the combination of great location, proximity to facilities and amenities, affordability and the unique and classy style of its decor.
As economy bites, condo owners eager to dispose of properties for cash
If you have some spare cash lying around, now is the time to buy a condominium in a tony area of the city as quite a few are for sale at bargain prices.
This is because a growing number of investors are eager to dump their properties — even at below market price — as they lose confidence in the state of the Malaysian economy.
New development in Tropicana
The location of Lumi Tropicana is along Persiaran Tropicana, in front of Jalan Tropicana Utama.
Residential property projects focused on lifestyle are all the rage and this is usually reflected in its top-of-the-range common facilities.
In this, the upcoming Lumi Tropicana does not fall short.
Ekovest Bhd radiates in Kuala Lumpur
Caring developer integrates property development via seamless connectivity.
EkoCheras is targeted for completion in 2017, showcasing an integrated commercial development that encases a lifestyle mall as well as a 400m frontage along Jalan Cheras.
The infamous rule when it comes to being a successful property development is its location. however, a property’s success also relies on how efficiently it is connected to highways, public road and rail transport. Ekovest Bhd is planning to add more value to its mixed developments by providing easy access as well as connectivity to and from its surrounding development areas.
Eat, drink, and be merry
Klang South residents will have a reason to rejoice as an upcoming Maritime Food Haven looks set to capture the hearts and minds of the public.
Mitraland Group chairman Datuk Johan Ariffin (right) and Mitraland Group CEO Chuah Theong Yee (left).
Food has always been an integral part of the Malaysian culture, and it’s no surprise, seeing how we have a melting pot of races.
New development in bustling Salak Tinggi has much to offer buyers
Strategically located along Jalan Labohan Dagang-Nilai which connects KLIA and Bandar Salak Tinggi or Nilai, Suria Warisan spans across 37.23ha and has a GDV of RM850mil.
Salak Tinggi is no longer a quiet town. Developers are pouring into the area, and one of the latest to do so is Hectare Heights Development Sdn Bhd, which is putting its stamp on the town with its maiden township project called Suria Warisan.
Why house prices remain high
There are two questions floating around the property market today: why do house prices remain as high as they are, and what affects these prices? Both are interlinked.
According to Jordan Lee & Jaafar executive director Yap Kian Ann, Selangor and Kuala Lumpur have a population of 7.5 million with 1.85 million residential units. Migration from other states and foreign purchases will enhance demand.
I-Bhd to launch RM829 mil project in Jalan Kia Peng
I-Bhd will be launching its first city centre project, 8 Kia Peng, in 1Q2016. I-Bhd is the developer of the 72-acre i-City in Shah Alam.
8 Kia Peng is a high-end residential project that will be built on a 1.05-acre freehold parcel on Jalan Changkat Kia Peng, Kuala Lumpur. It will comprise 442 residential units, of which 315 are serviced apartments, housed in a 50-storey tower. The rest of the units are SoHos. The tower will include an eight-level car park with 600 bays.
Kwasa Land announces Naza TTDI as its latest development partner for Plot R2-1
A development rights agreement for Plot R2-1 was today signed between landowner Kwasa Development (3) Sdn Bhd, a wholly owned subsidiary of Kwasa Land Sdn Bhd, and development partner Naza TTDI Sdn Bhd for a 12.7-acre residential development that will comprise 278 residential units in Kwasa Damansara.
Kwasa Land, the master developer for the 2,330-acre iconic township and a wholly owned subsidiary of the Employees Provident Fund, announced this today.
Mirage By The Lake thrives in Cyberjaya
An aerial view of the majestic villas showcased within Mirage by the lake, Cyberjaya, where resort living meets the daily routine.
Easily recognisable by its curvaceous nature is Mirage by the lake (MBTL), a development that promotes resort living, by OSK Property Holdings Bhd. The development stands out due to its landscaped green areas, further enhanced via a noticeably curvilinear theme present across the property.
Sunway to launch RM226 mil project in Bangi in 1Q2016
Sunway Property Bhd will be launching its newest integrated development, Sunway Gandaria, in Bandar Baru Bangi in the first quarter of 2016. The project comprises retail shops and a block of serviced apartments, and will stand as the tallest landmark within the vicinity upon its completion.
“Sunway Gandaria will be the choice development for first-time owners, upgraders and business owners who demand value while capitalising on the growing expansion of the Southern Klang Valley development corridor as an optimal business and residential hub,” said Sunway property development division executive director Ang Kee Ping (pictured).
UEM Sunrise, WCT to undertake RM3b property project
UEM Sunrise Bhd and WCT Holdings Bhd plan to undertake a RM3 billion mixed-property project in Serendah, Selangor, under a proposed equally-owned joint venture (JV).
In a statement to Bursa Malaysia today, UEM Sunrise said the JV intended to develop freehold land measuring 243ha (608.63 acres).
Visionary builders of tomorrow
Defining excitement – BBCC is the lifestyle hub of vibrant districts.
Eco World is a trusted brand among property buyers for good reason. It pays attention to the finer details of property development that is expected by discerning buyers.
Making safety and the environment a priority
Having been a burglary victim himself, S P Setia Bhd executive vice-president Datuk Koe Peng Kang knows the importance of safety for a family. That unforgettable incident inspired him and his team to build the Eco series of homes with emphasis on providing a safe environment for the residents of the company’s townships and preserving nature.
“Our home was broken into many years ago in Subang and in a separate incident, my son was robbed when he was playing basketball in the playground. Whenever I travel overseas for work, I am always worried about the safety of my family. I believe many people have the same worries,” Koe remarks.