Conezion Condominium launch receives encouraging response

Hundreds of prospective homebuyers converged at the launch of Conezion Condominium IOI Galleria in IOI Resort City, Putrajaya, last weekend.

Strategically located in a world-class lifestyle destination, this freehold condominium is the residential component of Conezion, the first-ever integrated development in IOI Resort City, which is just 700m from IOI City Mall.

Launch of The Henge’s last two towers on April 9

The remaining two towers of The Henge in Kepong will be put on the market by developer Aset Kayamas Sdn Bhd next month. “Based on the enquiries and the response, we are expecting the 736 units to be snapped up when we launch on April 9,” founder and managing director Tan Sri Chai Kin Kong tells City & Country.

The Henge, inspired by Stonehenge in the UK, comprises four towers, each 45 storeys high, with a total of 1,472 units. The development has a gross development value of RM790 million and sits on six acres of leasehold land next to the lake in Taman Metropolitan Kepong.

Sunway to launch Sunway Geo Residences 3 next month

Sunway Bhd plans to launch Sunway Geo Residences 3 condominium next month, with indicative selling prices starting from RM850,000.

The group unveiled the show unit of the project, which is the final phase of Sunway Geo Residences, today.

High-rise project beside school freaks out parents

An aerial view of SJK (T) Jalan Cheras. The empty plot of land behind it is the site of the approved 27-storey development, a mere one metre away.

Fearing for the safety of their children at SJK(T) Jalan Cheras that is next door to a high-rise building project, the parents are asking for the school to be temporarily relocated.

Sunway Property offers buyers financial help amid softer economy

Sunway Bhd’s property arm is providing financial assistance under its guaranteed loan scheme to help buyers own its products.

Under the Sunway Property Certainty Campaign, the group offers three packages which include the guaranteed loan, deferred payment and voluntary exit plan.

Mammoth Empire strikes back at critics

“I have no time for gossip. My work, and focus, is to complete and deliver the project,” Datuk Danny Cheah replies when asked about market talk of delays and other issues at the company’s Empire City @ Damansara KL development.

“From our point of view, we want to do a good job in delivering to our purchasers, investors and bankers. So, we can’t be bothered with the rumours and market talk,” says Cheah, group executive director of Mammoth Empire Holdings Sdn Bhd.

Lembaga Getah monetising its KLCC land

Lembaga Getah Malaysia (LGM) is monetising its prime land in Kuala Lumpur City Centre (KLCC), in what some believe is a move to shore up its coffers.

On March 15, the company held a briefing for qualified international and local hotel operators to invite tenders for a proposed five-star hotel to be developed on a parcel in Persiaran Stonor, within a stone’s throw of the Petronas Twin Towers.

How the Bukit Bintang City Centre project came about

The history of the redevelopment of the old Pudu prison site, which is now called Bukit Bintang City Centre (BBCC), can be traced back some 20 years when the 19.4-acre prime land first became vacant.

There were several suitors who had wanted to partner the Urban Development Authority (UDA), but none could come up with a solution that was acceptable to it. It was one of the last big parcels of prime land left in the heart of Kuala Lumpur.

New LRT stations to open in Puchong

With the opening of the IOI Puchong Jaya, Pusat Bandar Puchong, Taman Perindustrian Puchong and Bandar Puteri stations, there will be a total of eight LRT stations along the Sri Petaling Line.

Prasarana president and group chief executive officer Datuk Azmi Abdul Aziz said the new stations were expected to draw commuters as the stations were equipped with excellent park-and-ride facilities.

End of a 20-year wait

The development of 19.4 acres touted as Kuala Lumpur’s last major strategic parcel of land will finally take off in June this year after a 20-year wait.

The first phase of the RM8.7bil mixed development Bukit Bintang City Centre (BBCC) will kick off by the middle of the year, following the securing of partnerships with Japanese retail property developer Mitsui Fudosan (Asia) Pte Ltd and Zepp Hall Network Inc, a unit of Sony Music Entertainment (Japan) Inc.

MoF puts prime Damansara land out to tender

With its finances in a tight spot, the government hopes to raise at least RM833 million from the sale of a 19-acre piece of prime land located at the corner of Jalan Duta and Jalan Semantan near Istana Negara.

A notice was issued by the Ministry of Finance (MoF) recently and the tender closes on April 6.

KL prime land for sale

Land in golden triangle put on tender after 27 years of legal battles

A 7.4-acre tract of freehold commercial land in Kuala Lumpur city has finally been put up for sale by tender, after a series of legal battles spanning 27 years and a few countries.

Soon-to-open flyover promises convenience

Shah Alam residents are looking forward to the opening of the new flyover from the Federal Highway into Section 7, Shah Alam, which they believe will ease traffic congestion woes.

Hafizul Nizam, who works as a despatch, said people would be able to get to i-City, Shah Alam and Klang without getting caught in traffic jam when the flyover was opened.

Little or no change in residential property prices

The Klang Valley residential property monitor saw little or no change in prices on a quarterly basis in 4Q2015. In his presentation of the data, Savills (Malaysia) Sdn Bhd vice-president Jeffri Rahim says that both 3Q2015 and 4Q2015 were similar in the “flattening” of residential prices.

“The softening of the market is a more recent occurrence, seen in the last two quarters, with prices hardly rising since 1Q2015 or 2Q2015,” he remarks.

Special online property bidding

Ung introducing the ‘Just Bid It’ campaign and the five properties that will be open for auction.

Tropicana Corporation Bhd is launching a one-of-a-kind online property bidding campaign.

A stir in Empire City

Buyers cry foul but developer says it has fulfilled all obligations

The low level of activity at the massive development of the RM5bil Empire City along the Damansara-Puchong Highway has caused a stir in the soft property market.

Bukit Bintang City Centre serviced apartments priced indicatively at RM1,600 psf

Bukit Bintang City Centre’s (BBCC) serviced apartments – which will be open for a public preview this weekend – will be priced indicatively at RM1,600 psf, said a personnel from developer BBCC Development Sdn Bhd.

The serviced apartments – which are part of phase 1 – have tentative built-ups from 500 sq ft to 1,000 sq ft, she told a prospective buyer.

Eco World set to hit RM4bil sales target

Developer eyes RM4.5bil in 2017 with launch of new phases

Eco World Development Group Bhd is optimistic of achieving its RM4bil sales target this year and hopes to increase this to RM4.5bil in 2017.

RM57mil project to be ready in April

An artist’s impression of the Pudu Integrated Commercial Complex (ICC), which will have a wet and dry market, a food court and general convenience stores.

More than 250 traders from the Bukit Bintang market in Jalan Melati Imbi will soon move to the Pudu Integrated Commercial Complex (ICC) located about 1km away in Jalan Kijang.

Bukit Bintang Hawkers and Petty Traders Association chairman See Foo Hoong said the new location would be good for the traders and their businesses.

IOI Properties to launch Conezion this weekend

IOI Properties Group Bhd plans to officially launch two residential blocks of its new freehold mixed development Conezion @ IOI Resort City at Putrajaya this weekend.

The project has received 600 registrations of interest since last December, senior general manager Lee Yoke Har told

KL CBD office demand to outstrip new supply in 2018

Kuala Lumpur’s central business district (CBD) office market – which includes the Kuala Lumpur City Centre (KLCC), the Golden Triangle and the city centre’s older commercial area – is expected to see higher absorption rates from 2016 to 2018, with demand expected to overtake new office supply of about 1.5 million sq ft, said JLL country head of Malaysia YY Lau.

“The market has stabilised for now [in terms of rental] where there is more supply than demand for office space. We don’t expect any increase in terms of rental this year but once the oversupply of spaces has been absorbed, we will see rents increasing marginally sometime in 2017 and 2018,” she said at the Property Market Outlook 2016 media briefing organised by JLL.

2,114 applications approved under My First Home Scheme since 2013

Prime Minister Datuk Seri Najib Tun Razak said 2,114 applications were approved under the My First Home Scheme involving RM431 million in loans between 2013 and January this year.

He said Bank Negara Malaysia records also showed that 876 applications under the Youth Housing Scheme were approved between 2013 and February this year involving RM215.5 million in loans.

Thriven Global to launch Lumi Tropicana Soho suites early May

Thriven Global Bhd plans to unveil the 2-storey Soho (small office-home office) suites of Lumi Tropicana early May this year, with indicative selling prices from RM600,000.

Lumi Tropicana comprises 62 units sized between 753 sq ft and 764 sq ft. The project is located directly opposite the popular Tropicana Golf & Country Resort in Persiaran Tropicana.

Beverly Group extends its reach to KL city fringe

Starting out as a civil structure contractor, Singapore-based Beverly Group Sdn Bhd — a subsidiary of Singapore-registered Qingdao Investments Pte Ltd — became a property developer when its founder and CEO Lim Seak Koon decided to experience property development “from the other side”.

“When Mr Lim worked as a contractor, he saw the risk profiles of both contractors and developers. Although as a property developer, you have to take a risk where the market is concerned, if you are smart and willing, you will do better than contractors,” Beverly Group sales and marketing executive director Wendy Tang tells City & Country.

Developers opt for strata route to sell buildings

The rout on oil prices, the Klang Valley’s oversupply of office space and the overall soft property market have compelled developers to change tactics when selling their buildings.

The rental market also found itself in a similar situation, where office building owners are lowering their rental to retain tenants or extending rent-free periods to potential tenants.

BRDB to launch RM2b worth of local and international projects

BRDB Developments Sdn Bhd plans to launch RM2 billion worth of projects this year – namely in TamanSari in Rawang, Selangor, the Defense Raya Golf and Country Club (DRGCC) in Lahore, Pakistan, and Gateway Wollongong in New South Wales, Australia.

“The RM2 billion will be derived from new launches of ongoing projects, the DRGCC in Lahore, the upcoming Gateway Wollongong in Australia, and TamanSari in Rawang,” said BRDB CEO Edwin Yang.

First residential launch at Sunsuria City in 3Q2016

Sunsuria Bhd is set to launch its first residential property at Sunsuria City before the end of the year.

The developer will be launching 663 apartment units and about 448 units of small office/home office (SoHos) at its 525-acre township in Putrajaya South, Salak Tinggi, in the third quarter (3Q2016), Sunsuria’s director of sales and marketing Simon Kwan told

Warisan Merdeka will add to capital’s attractiveness

There will be a new iconic landmark in Malaysia with the launch of Warisan Merdeka by Prime Minister Datuk Seri Najib Tun Razak.

The mega-tower mixed development project, to be undertaken by Permodalan Nasional Berhad on a 19-acre land, is expected to be fully completed in 2024.

Mah Sing says shopping time for land as Malaysia rebound seen

Mah Sing group managing director Tan Sri Leong Hoy Kum: "Every weekend is shopping time for me and sometimes I charter a helicopter to look at land the size of 500 acres to 1,000 acres.”

Mah Sing Group Bhd said it is ready to buy more land after holding back in 2015 as the company predicts a rebound in Malaysia’s property sales in the second half of the year.

Property sector to reach inflection point soon

The property sector is expected to reach an inflection point soon, premised on sustained economic data, says Affin Hwang Capital today.

In a research note today, Affin Hwang maintained its ‘overweight' view on the sector, advising investors to take position on stocks with strong fundamentals and with discounts to value.

Novum South Bangsar 70% units booked

Eupe Corp Bhd’s Novum South Bangsar project saw 70% of its 729 units booked since the project was launched on March 12, said sales and marketing manager Eric Choong.

“More than 30 units were sold on the first day of the launch with approximately 350 people turning up which was more than our expectation. Given the strong levels of interest from potential buyers who attended the launch, more sales are likely to be closed in the next weeks,” he told

Federal territories get 39,416 affordable homes

As of Feb 29, a total of 39,416 affordable homes had been built, were under construction or had been approved for development in the federal territories, said Federal Territories Minister Datuk Seri Tengku Adnan Tengku Mansor.

He said the houses were provided under the Federal Territory Affordable Housing Project (Rumawip) and the 1Malaysia Civil Servants' Housing Programme (PPA1M).

Honouring the best in property

Cream of the crop: Sultan Sharafuddin, Wong (left) and Datuk Fu Ah Kiow (Star Media Group Bhd) (seventh from right) with the All-Star Award – Top Ranked Developers winners (from left) Datuk Koe Peng Kang (SP Setia Bhd), Datuk Wan Hashimi Albakri (Sime Darby Property Bhd), Datuk Teo Chiang Quan (Paramount Corp Bhd), SM Faliq SM Nasimuddin (Naza TTDI Sdn Bhd), Ng Chai Yong (Mah Sing Group Bhd), Tan Sri Lim Hock San (LBS Bina Group Bhd), Datuk Soam Heng Choon (IJM Land Bhd), Teh Chin Guan (IOI Properties Group Bhd), Tan Wee Bee (Sunway Bhd) and Datuk Roslan Ibrahim (UEM Sunrise Bhd).

It was a glittering and memorable night as the country’s top property developers were honoured at the inaugural Awards 2016.

Forest City, the first artificial island to get duty-free status

The Forest City, a mega development on four man-made islands in Iskandar Malaysia, has been accorded duty-free area status since March 6.

This is the first artificial island granted the status in Malaysia compared with the natural islands – Labuan, Langkawi and Tioman.

I-Bhd launches KLCC luxury condo from RM2,300 psf

I-Bhd unveiled its high-end 8 Kia Peng residences – its first project outside its flagship 72-acre i-City “ultrapolis” development in Shah Alam – in the city centre, which has a gross development value (GDV) of RM1 billion.

The luxury residential project is touted by the developer as the “King of the Hill” as it is coming up on an elevated 1.05-acre freehold parcel on Jalan Changkat Kia Peng, and will feature 442 residential units – of which 315 are serviced apartments, and the rest SoHos – and an eight-level car park with 600 bays housed in a 50-storey tower.

Unsold residential units to rise in 2016

Property developers are expected to see more unsold residential units in 2016, as launches over the past two years are expected to come on stream, amid a slowdown in demand.

The local property market has seen some dampening since the introduction of cooling measures by the government in 2014 to curb speculative activity, while the introduction of the goods and services tax (GST) in April 2015 had significantly affected consumer sentiment.

East coast opportunities

Are property yields improving in Kelantan and Terengganu?

With the outlook of the local property sector being increasingly challenging, more people are playing it cautious and holding back their purchases.

Those with holding power are relying on their rental returns.

British interior designer launches new collection

If you are a fan of The Apartment, interior design reality television show, then Laurence Llewelyn-Bowen is no stranger to you.

Llewelyn-Bowen’s role as head judge and style arbiter of the popular show has thrilled Asia with his surgically-sharp judgements on taste, style and efforts of the celebrity contestants.

EcoWorld’s Karisma apartments 85% sold

About 85% of Karisma apartments – a project by Eco World Development Group Bhd (EcoWorld) – were taken up since its launch on Feb 21 this year, according to the company.

Eco Majestic general manager Evon Yap Yoke Ching told, 600 buyers had attended the unit selection exercise which was held on March 6, 2016 at the Eco Majestic sales gallery to choose their preferred units.

Property sector will not crash

The property sector is not heading towards a crash, according to the Real Estate and Housing Developers Association (Rehda).

This is despite low take-up rates at developers’ launches, slow secondary market, and high loan rejection rates for mortgages.

Property sales rose in 2H 2015

Property sales rose to about 18% in the second half of 2015 compared to the first half of 2015, although property launches slowed, according to a survey by the Real Estate and Housing Developers' Association Malaysia (Rehda).

In the first half on 2015, 5,195 units were sold compared to 4,371 unit sold in first half of 2015.

Leadmont Group unveiling Holiday Villa investment scheme by end of March

Leadmont Group plans to launch Holiday Villa@Selayang Star City investment scheme at the end of this month, offering investment opportunity to investors who are interested to tap into the hospitality industry, according to the company.

The company’s sales and marketing general manager Ng Chin Yung told, the hotel investment scheme will be in a revenue sharing mechanism – in which certain percentage of the income will be distributed to the unit owners.

Astana Residence records 60% take-up rate

Despite the sluggish market, the Astana Residence twin villa development by Putrajaya Holdings Sdn Bhd – the master developer of Putrajaya – is 60% sold since launching in October last year.

The developer’s marketing general manager Sabariah Ramli told that the freehold luxury lakefront villa development, situated in Precinct 8, is the first gated-and-guarded landed residential project in Putrajaya. It has an estimated gross development value of RM234.47 million.

Vista Residences @ Genting Highlands 50% taken up

The Vista Residences @ Genting Highlands serviced apartments soft launched by Kerjaya Prospek Group Bhd in January this year is 50% sold, said executive director Datuk Tee Eng Ho.

The RM300 million gross development value (GDV) project will be developed on 1.33 acres of leasehold land at Genting Permai, which is at the foothills of Genting Highlands.

Eupe sees opportunity in slowdown with first KL project

With the current market slowdown, most property developers are holding back their launches and focusing on ongoing projects. Kedah-based Eupe Corp Bhd, however, is bucking the trend by launching its first Kuala Lumpur project — Novum at South Bangsar — on March 12.

“While the market is sluggish, we believe very strongly in our product and its ability to attract interest and buyers because of its strong points of differentiation,” says group managing director and CEO Datuk Beh Huck Lee.

EcoWorld plans 8 new projects

Buyers may get business grants for commercial property in three prime areas

A soft property market is no stumbling block for Eco World Development Group Bhd which is roaring ahead with eight new commercial development projects under its Business Masterplan series.

Eco World president and chief executive officer Datuk Chang Khim Wah says that even in the toughest markets, there are still solutions.

Seeking opportunity in adversity

Property investors who have the guts to take the plunge during a challenging period such as this stand to gain huge capital gains from their investments, said Malaysian Institute of Estate Agents (MIEA) immediate past president Siva Shanker.

This is because he expects the good times to return despite the anxiety engulfing the property market, with prices dropping in certain segments of the market.

SDB unveils reside-and-purchase housing plan

Property developer Selangor Dredging Bhd (SDB) has launched its “Reside-and-Purchase” programme to provide greater opportunity for consumers to own their dream homes.

SDB said on Thursday RAP is the first programme of its kind by any developer in the country as it allows consumers to own their home in just a few simple steps.

i-City’s Hyde Tower 90% taken up

i-Bhd’s Hyde Tower apartment project at its flagship i-City integrated development in Shah Alam is 90% taken up since its launch last Sunday.

“We are pleased by the positive response which saw over 200 enthusiastic buyers flocking to the sales gallery as early as 3am on Sunday to secure their preferred unit,” said i-City director Monica Ong.

Malton to launch final block of Bukit Jalil City condos in September

Malton Bhd plans to launch the third and final phase of its freehold serviced apartments at Bukit Jalil City development here in September, said a spokesperson for the developer.

“The serviced apartments will be priced above the average RM855 psf set by the previous phase that was soft launched last year,” she told

More high-end condo project launches to be deferred in 1H2016

Real estate consultancy firm Knight Frank Malaysia foresees more high-end condominium projects in Kuala Lumpur that were originally scheduled for launch by 1H2016 being deferred owing to the large amount of incoming supply and poor market sentiment.

According to Knight Frank Malaysia’s 2H2015 Real Estate Highlight report, the cumulative supply of high-end condos in Kuala Lumpur stands at 42,749 units following the completion of 3,139 units in 2H2015.