- Singapore Consumer Price Index has increased to 2.7% in June 2010.
- Unemployment in the United States is expected to remain around 9.5% until 2012.
- US housing sales dropped by 5.1% in June 2010 following the expiry of the government's tax credit incentive of as much as US$8,000 in April.
- China's Gross Domestic Product has increased to 10.3% in the second quarter of 2010.
- China proposed to impose new tax on the extraction of coal, oil and gas in the western areas.
- Thailand's interest rate was revised to 1.5% for the first time in two years.
- Indonesia's economy has improved tremendously leading to an increase of foreign investments.
- South Korea's Gross Domestic Product for the first half year 2010 is 7.2%.
- The Malaysia-New Zealand Free Trade Area Agreement will be effective from August 1 2010.
- Foreign Direct Investments in Malaysia had dropped 81% in 2009 from the previous year.
- The implementation of Goods and Services Tax scheduled for 2011 has been put off indefinitely.
- Subsidies for sugar, petrol, diesel and liquefied petroleum gas were reduced partially by the government with effect from July 16, 2010.
- A special fund of RM20 billion has been set up by the government to implement more than 50 high-impact projects on government-owned land under the 10th Malaysia Plan.
- South Korea's second largest ethylene maker, Honam Petrochemical Corp is acquiring Titan Chemicals Corp Bhd for RM2.9 billion.
- World's biggest measuring instruments manufactuer, Hexagon AB acquired US-based Intergraph Corp for US$2.13 billion.
- Malaysian's biggest fire-fighting specialist, Fitters Diversified Bhd recently started its first phase of the maiden biomass power plant project worth RM105 million in Liangshan county in Shandong province.
- A memorandum of understanding was signed between Naim Holdings Bhd and Libya's Al-Waatasemu Charity Foundation to build a 50-storey Gaddafi Tower in Tripoli, Libya.
- The first Tune Hotel.com in Westminster, London offering 5 star rating due to open in August 2010.
- A Memorandum of Understanding has been signed between Bandar Raya Developments Bhd and Multi Purpose Holdings Berhad for the development of several parcels land in Penang (approximately 80 acres), Rawang (approximately 266.7 acres) and Gombak (approximately 324 acres).
- The wholly owned subsidiary of Melati Ehsan Holidngs Berhad, Bayu Melati signed a Development Agreement with Tengku Shahrudin Sdn Bhd to develop 34.3 acres into a residential development known as Bukit Tengku Shah Alam.
- The triplex penthouse at The Binjai On The Park with a built-up area of 14,300 sq ft was sold for RM38 million last month. (average at RM2,660 psf).
- Surian Residences @ Mutiara Damansara registered a take-up rate of 80% with a day.
-
| Pavilion Residences Tower 1 - Sky Villas |
| Developer |
SEB Investment GmbH (IMMO Pavilion) |
| Location |
Jalan Bukit Bintang |
| Development |
20 units of sky villas and 6 duplex unit-sky palaces |
| Built-up Area-sky villas |
From 3,394 sq ft to 4,227 sq ft |
| Built-up Area-sky places |
From 5,743 sq ft to 7,174 sq ft |
| Price |
From RM1,500 psf (20% sold) |
| SummerGlades |
| Developer |
Suntrack Development Sdn Bhd |
| Location |
Cyberjaya |
| Development |
137 units of 2 storey terrace villas |
| Land area |
1,920 sq ft |
| Built-up area |
3,000 sq ft |
| Price |
From RM760,000 (85% sold) |
| Contours |
| Developer |
AQRS The Building Company Sdn Bhd |
| Location |
Melawati |
| Development |
41 units of courtyard villas-50% sold |
| Built-up area |
From 4,165 sq ft to 7,738 sq ft |
| Price |
From RM2.5 million (RM600 psf) |
| From RM2.5 million (RM600 psf) |
| Developer |
Venus Capital Corporation Sdn Bhd |
| Location |
Kemensah Heights |
| Development |
Phase 1A - 42 units |
| Land area |
4,500 sq ft/5,000 sq ft |
| Built-up area |
4,770 sq ft to 5,981 sq ft |
| Price |
4,770 sq ft to 5,981 sq ft |
| Twin Palms Kemensah |
| Developer |
SDB Properties Sdn Bhd |
| Location |
Venus Capital Corporation Sdn Bhd |
| Development |
Phase 1A - 42 units |
| Land area |
4,500 sq ft/5,000 sq ft |
| Built-up area |
4,770 sq ft to 5,981 sq ft |
| Price |
RM2,700,000 |
| 20 Trees West |
| Developer |
SDB Properties Sdn Bhd |
| Location |
Melawati |
| Development |
48 units 3 storey bungalows |
| Land area |
4,900 sq ft to 8,300 sq ft |
| Built-up area |
6,300 s ft to 6,900 sq ft |
| Price |
RM3 million |
| Ken Bangsar |
| Developer |
Ken Holdings Bhd |
| Location |
Bangsar |
| Development |
80 units condominium |
| Built-up area |
2,600 sq ft |
| Price |
From RM2 million to RM3.5 million (RM800 psf to RM1,300 psf) |
| Bluhaven Urban Resort series |
| Developer |
Bluwater Development Bhd |
| Location |
Seri Kembangan |
| Development |
8 units of 3 storey bungalows |
| Land area |
Betweeen 8,600 sq ft and 22,000 sq ft |
| Built-up area |
Between 8,900 sq ft and 12,000 sq ft |
| Price |
From RM4 million |
| Arata of Tijani |
| Developer |
Bolton Berhad |
| Location |
Bukit Tunku |
| Development |
3 10 storey towers with 100 units of condominiums |
| Built-up area |
From 900 sq ft to 2,411 sq ft |
| Price |
From RM630,000 and RM1.7 million |
| Six Ceylon |
| Developer |
Six Ceylon: |
| Location |
Bukit Ceylon |
| Development |
33 storey tower with 215 units of condominiums |
| Built-up area |
From 696 sq ft to 1,555 sq ft |
| Price |
From RM560,000 to RM1.25 million |
| 51 Gurney |
| Developer |
Bolton Berhad |
| Location |
Jalan Gurney |
| Development |
16 storey tower with 71 units of condominiums |
| Built-up area |
From 3,000 sq ft and 5,700 sq ft |
| Price |
From RM2.7 million to RM7 million |
| Madge Mansions |
| Developer |
Gamuda Land Sdn Bhd |
| Location |
U Thant |
| Development |
3 10 storey block - 52 units of condominiums |
| Built-up area |
From 4,000 sq ft to 4,500 sq ft |
| Price |
From RM4 million |
| Bayu Kemensah |
| Developer |
Delta Elegance Sdn Bhd |
| Location |
Kemensah |
| Development |
33 units 3 storey bungalows |
| Land area |
4,550 sq ft to 6,700 sq ft |
| Built-up area |
5,432 sq ft to 5,844 sq ft |
| Price |
From RM2.6 million |
- Citta Mall in PJU01, a joint venture project between Germany based SEB Investment GmbH and Puncakdana Sdn Bhd will have a net lettable area of 424,467 sq ft and is expected to open by end 2010.
-
Lot C of KLCC project will be developed into the following components:
- a six storey retail podium with a lettable area of 140,000 sq ft due for completion by end 2010.
- 55 storey office tower with a net lettable area of 840,000 sq ft is expected to be completed by October 2011.
- Rendezvous Hospitality Group has terminated the management of the soon to be opened 445-room business hotel within the Taragon Puteri Kuala Lumpur project.
- Habib Jewels acquired a proposed 32-room hotel in Kota Baru, Kelantan for RM8 million. It is currently 80% completed.
- The RM3 billion Sepang Goldcoast in Bagan Lalang was launched on July 13 2010.
- Redevelopment of Federal Auto Holdings Bhd's existing showrooms into a 26 storey commercial building is to be completed in June 2013 which will comprise of a RM12 million Volvo showroom. The remaining office suites will be either for sale or lease.
- IJM Land Bhd sold en bloc 83 units of commercial properties worth RM90 million and also 40% of 574 units of condominum of the Pearl Regency development on Penang Island to Koreans.
-
Gamuda Land Sdn Bhd has proposals for development along Jalan Pudu and Jalan Robertson as follows:
- two blocks of serviced apartments/SOHO - 900 units with a proposed pricing of RM1,100 psf. A retail podium with a net lettable area of 32,000 sq ft for specialty shops along Jalan Pudu frontage
- Lifestyle centre along Jalan Robertson.
| Wisma PJI - 3 storey semi detached factory |
| Vendor(s) |
PJI Holdings Berhad |
| Purchaser(s) |
Pan Pacific Enterprise Sdn Bhd |
| Location |
19 Jalan Astaka U8/83 Section U8 Bkt Jelutong 40150 Shah Alam |
| Tenure |
Freehold |
| Land Area |
23,843 sq ft |
| Built-up area |
22,723 sq ft |
| Price |
RM4,800,000 |
| Location |
17 Jalan Astaka U8/83 Section U8 Bkt Jelutong 40150 Shah Alam |
| Tenure |
Freehold |
| Land Area |
16,954 sq ft |
| Built-up Area |
17,793 sq ft |
| Price |
RM4,000,000 |
| Transaction date |
08.07.2010 |
| Freehold residential land in Puchong |
| Vendor(s) |
Medan Damai Sdn Bhd |
| Purchaser(s) |
Legend Grand Development Sdn Bhd |
| Location |
Puchong |
| Tenure |
Freehold |
| Land Area |
51.38 acres |
| Price |
RM178,396,136.15 (analysed at RM79.60 psf) |
| Transaction date |
09.07.2010 |
| Commercial land in Shah Alam U05 (Star Avenue) |
| Vendor(s) |
Midas Menang Sdn Bhd and Zikay Development Sdn Bhd |
| Purchaser(s) |
Mestika Bistari Sdn Bhd (Mah Sing) |
| Location |
Shah Alam U05 |
| Tenure |
Leasehold |
| Land Area |
17.85 acres (776,264.8 sq ft) |
| Price |
RM65,910,620 (analysed at RM84.91 psf) |
| Transaction date |
09.07.2010 |
| Industrial land in Bukit Jelutong (iParc 3) |
| Vendor(s) |
Azeera Properties Sdn Bhd |
| Purchaser(s) |
Azeera Properties Sdn Bhd |
| Location |
Bukit Jelutong |
| Tenure |
Freehold |
| Land Area |
10.95 acres (476,982 sq ft) |
| Price |
RM31,864,010 (analysed at RM67 psf) |
| Transaction date |
09.07.2010 |
| Industrial land in Kota Damansara |
| Vendor(s) |
T.H. Hin (Milux Corp Berhad) |
| Purchaser(s) |
Albert Wines & Spirits (M) Sdn Bhd |
| Location |
Taman Sains Selangor, Kota Damansara |
| Tenure |
Leasehold |
| Land Area |
114,391.82 sq ft |
| Price |
RM10,980,960 (analysed at RM96 psf) |
| Transaction date |
26.07.2010 |
- Redevelopment of Kampung Congo into a new township is to be announced soon.
- The abandoned Taman Topaz in Dengkil launched in 2001 is to be revived soon.
- Flexible Housing Withdrawal by Employees Provident Fund will provide members access to more funds for home purchase.
- The latest Diplomatic Precinct development in Precinct 4, Putrajaya (Plot 4GDE) was launched as an alternative to the Diplomatic Precinct in Precinct 15.
- The RM35 million Little India in Brickfields is expected to be completed by October 2010.
- Bandar Raya Developments Bhd is acquiring Limitless Holding Pte Ltd's 60% stake in Haute Properties Sdn Bhd, a joint venture company with UEM Land on the development of 111 acres high end housing project in Iskandar Malaysia.
- Selangor Dredging Bhd secured a tender for an 18-storey old residential block, Cavenagh Mansions in Singapore for S$42.38 million.
- The RM1 billion Low Cost Carrier Terminal's joint venture with UEM has been awarded to Bina Puri Holding Bhd. The new terminal is expected to be completed early 2012.
- Weir, a British manufacturer of pumps seals and other rubber products for mining industry is acquiring Kuala Lumpur based Linatex for US$200 million.
- SunPower Corp, a US-based manufacturer of residential and commercial solar systems together with Taiwans AU Optronics plans to invest US$700million (RM2.3 billion) cell plant in Malaysia.
- Chinas consumer price rose 3.1% in May 2010.
- The British economy expanded 0.3% in the first quarter 2010.
- Singapores consumer price jumped 3.2% in April and are expected to rise around 2.7% in May.
- Temasek, Singapores state fund is planning to invest US$300mil in Agricultural Bank of China.
- Malaysias industrial production index rose to 10.1% in April due to increase in electrical and electronics products, wood products, furniture, paper products and pring, and non-metallic mineral products, basic metal and fabricated metal products.
- Malaysia has been recognised by China as an approved investment destination for the inflow of Chinese funds into the country.
- On June 10 2010, China announced it would resume making the yuan more flexible.
- Mudajaya is in talk to secure 5 ultra mega power deals worth US$5 billion (RM16.6 billion) each in India.
- Scomi Engineering Bhd plans an investment of RM40mil to set up a manufacturing plant in India by 2011.
- Hovid Bhds subsidiary Agrovid SA is planning to invest RM3 million to plant oil palms in Columbia over five years.
- Sunway Holdings Bhd and Sri Lanka-based Dasa Tourist are looking to develop a 34 storey tower with a total saleable area of 400,000 square feet on a plot of prime freehold land in the premium mixed used zone of Bambalapitiya.
- A 1,215 ha halal industrial park in Yemen in Aden, Al-Hadaidah and Mukalla, located at Yemens coastal area will be developed by Penangs state halal agency, PI-HH Development Sdn Bhd and Yemen-based Investmy International Ltd.
-
The 10th Malaysia Plan (2011-2015) was launched on June 10 2010 with a total of 52 high-impact project with an estimated value of RM62.7 billion which include some of the following developments:
- 3,300 acres Rubber Research Board land in Sungai Buloh
- the redevelopment of the 400-acre Sungai Besi Royal Military airbase
- KL Financial District in Jalan Tun Razak
- Tamansari Riverside Garden City
- Naza KL Metropolis Development
- Eco City - RM6 billion
- Merdeka Park
- redevelopment of Kampung Baru
- redevelopment of the Angkasapuri Complex
- seven toll highways, among them the West Coast Expressway, Guthrie-Damansara Expressway, Sungai Juru Expressway and and others at an estimated cost of RM19 billion
- 5 Universiti Teknologi MARA branch in Kuala Lumpur as a Media City
- Privatisation of Penang Port Sdn Bhd
- Twin Creeks Technologies is directly investing US$75million a solar plant in Ipoh, Perak.
-
Asia Pacific Land Bhd signed a joint venture and working agreement with HELP International Corporation Berhad in education venture in China and Malaysia as follows:
- Changshu City in the province of Jingsu China
- Victoria College in Kuala Lumpur and Rawang including the setting up and management of retirement homes in Bandar Tasik Puteri Rawang as well as the development of a 50 acres campus.
-
Five new commercial banking licences to foreign banks had been issued by Bank Negara on June 17 2010 to the following banks:
- France's BNP Paribas SA
- Japan's Mizuho Corporate Bank
- Sumitomo Mitsu Banking Corp
- Indonesia's PT Bank Mandiri and
- The United Arab Emirates (UAE)'s National Bank of Abu Dhabi
- In Senai Hi-Tech Park, Johor, STX Corp, a South Korean-based industrial group is setting up a RM1.5 bil solar cells manufacturing plant.
- Malaysia targets to become the only net exporter of oil in Asia Pacific by 2014.
- Shin Yang Shipping Corp Bhd secured an investment of RM45 mil and RM120 mil to set up a shipyard in the United Arab Emirate and Sarawak respectively.
- US-based Internet protocal business communications company, SHORETEL Inc, is in partnership with ITApps Sdn Bhd and Comegatel System Sdn Bhd in Malaysia in small and medium-sized enterprise in all sectors to generate a revenue of US$3 million (RM9.9 million) within the first year.
- In the East Coast Economic Region, French integrated agriculture producer Glon Groupe's investment of US$60 million (RM199.2 million) in the setting of a poultry farming with the first phase of the 80ha plant to commence by end 2010.
- New corporate governance for the next five years from 2010 to 2015 was launched by the Securities Commission.
| Idaman Hills |
| Developer |
Loh & Loh Corp |
| Location |
Selayang |
| Development |
Phase 1
32 units of 2 and 2½ storey semi detached houses |
| Land area |
2,450 sq ft |
| Built-up area |
2,395 sq ft to 2,725 sq ft |
| Price |
From RM837,000
62 units of 2½ and 3 storey bungalows |
| Land Area |
3,700 sq ft |
| Built-up Area |
3,065 sq ft to 4,266 sq ft |
| Price |
From RM1.29 million |
| Kenny Heights Sanctuary |
| Developer |
KH Land Sdn Bhd |
| Location |
Sri Hartamas |
| Development |
2 towers of 38 storey towers each having 168 units and 4 duplex penthouses |
| Built-up area |
1,859 sq ft and 2,385 sq ft - 3+1 rooms
2,719 sq ft and 3,748 sq ft - 4+1 rooms |
| Price |
From RM1,460,000 (RM785 psf) |
| Sunway Rymba Hills |
| Developer |
Sunway Damansara Sdn Bhd |
| Location |
PJU03 Sunway Damansara |
| Development |
80 units of 3 storey bungalow villas |
| Land area |
From 3,601 sq ft |
| Built-up area |
From 4,442 sq ft |
| Price |
From RM3.04 million and RM3.9 million |
| Greenhill |
| Developer |
Green Hill Development Sdn Bhd |
| Location |
Shah Alam U10 |
| Development |
Phase 1 - 28 units of double storey twin villas |
| Land area |
4,480 sq ft |
| Built-up area |
3,000 sq ft |
| Price |
RM978,000 |
| Remarks |
100% sold |
| Development |
Phase 2 - 32 units of double storey twin villas |
| Land area |
4,704 sq ft |
| Built-up area |
3,200 sq ft |
| Price |
RM978,000 |
| Development |
Phase 1B - 30 units of double storey bungalows |
| Land area |
5,500 sq ft |
| Built-up area |
4,000 sq ft |
| Price |
Proposed selling price from RM1.5 million |
| Grande Villas |
| Developer |
Dijaya Corp Bhd |
| Location |
Tropicana Golf & Country Resort |
| Development |
12 units of 3 storey bungalows |
| Land area |
10,000 sq ft |
| Built-up area |
8,200 sq ft |
| Price |
In the region of RM5 million onwards |
| Pools Villas |
| Developer |
Dijaya Corp Bhd |
| Location |
Tropicana Golf & Country Resort |
| Development |
54 units |
| Land area |
4,500 sq ft |
| Built-up area |
7,000 sq ft |
| Price |
In the region of RM3.6 million |
| U Thant |
| Developer |
TA Global Bhd |
| Location |
U Thant |
| Development |
22 units of condo units and 6 town villas |
| Built-up area |
Condo - from 1,800 sq ft to 2,500 sq ft
Town villas - from 5,500 sq ft |
| Price |
Condo - from RM3 million to RM4 million
Town villas - from RM7 million |
| Dutamas |
| Developer |
TA Global Bhd |
| Location |
Sri Hartamas |
| Development |
396 units of condominium units |
| Built-up area |
From 900 to 2,250 sq ft |
| Price |
Indicative pricing from RM500 psf |
| Casaman |
| Developer |
Perdana Parkcity Sdn Bhd |
| Location |
Desa Parkcity |
| Development |
108 units pf 3 storey homes and 39 units of 2 storey homes |
| Built-up area |
3 storey homes - 3,900, 4,300 and 5,400 sq ft
2 storey homes - 3,100 sq ft
|
| Price |
2 storey - RM1.7 million (indicative)
3 storey - between RM2.1 million and RM2.9 million (indicative)
|
| Launch |
July 3 2010 |
| The Westside One |
| Location |
Desa Parkcity |
| Development |
1 block of 40 storey condominium - 338 units - 90% non bumi sold |
| Built-up area |
From 969 sq ft to 2,066 sq ft |
| Price |
Average price of RM600 psf |
| The Pearl |
| Developer |
Flora Bliss Property Development Sdn Bhd |
| Location |
Along Jalan Stonor |
| Development |
41 storey tower - 178 units condominium, 7 of which are duplexes and 4 penthouses |
| Built-up area |
From 3,109 sq ft |
| Price |
From RM2.5 million (RM900 psf) - 60% sold |
- Tierra Crest @ Kelana Jaya with a net lettable area of 280,000 sq ft is expected to be completed in mid 2012.
- PKNS headquarter in Persiaran Barat Petaling Jaya is to be redeveloped by Bisraya Construction Sdn Bhd into a mixed commercial, retail mall, serviced apartments, hotel and office tower with an estimated gross development value of RM3 billion to RM3.5 billion
- The Mutiara Beach Resort will reopen in 2012. The hotel will undergo a RM100 million makeover.
- SP Setia Bhd plans to joint venture project with Kuala Lumpur City Hall on a 9.7 hectares leasehold land in Kampung Haji Abdullah Hukum comprised of office towers, condominuims and signatures offices including an area for retail.
- St Regis in KL Sentral is expected to open by 2014 will be managed by Starwood Hotels and Resorts.
- Several parties including a real estate fund management company affliated with Hong Kong's Cheung Kong Group have made biddings for the second phase of the One Mont Kiara development priced at RM300 million. The total net lettable area of One Mont Kiara which comprises both retail and office space, is 831,272 sq ft. .
-
Multi-Purpose Holdings Bhd will launch a RM3billion project at Pasar Rakyat site, Imbi comprising:
- 1 million sq ft full-fledged retail podium on 2.4 ha
- 50 storey luxury condominium
- 35 storey four star hotel
- 30 storey office
- Sunway Velocity developed by Sunway City Berhad in Jalan Peel, Cheras will consist of a 13 storey block with 132 units of shop-offices, an 18-storey 264-unit serviced apartment on a four storey podium.
-
The Matsushita factory in the Sungei Way Free Trade Zone has been demolished to make way for the Icon City, which will comprise the following:
- 3 blocks of 17 storey serviced apartments
- a 16 storey hotel with banquet hall
- 5 blocks of 25 to 31 storey office blocks
- a 20 storey SOHO block
- 18 units of3? storey showrooms and 80 units of 4? storey shoplots
- The 215-unit Fraser Place Kuala Lumpur was officially launched on June 2010. Fraser Residence is another project which is expected to be completed by 2012. These two projects is jointly developed by Singapore-based Frasers Hospitality Pte Ltd and YNH Property Bhd.
- The RM450 million refurbishment of Menara Tun Razak and a construction of a new 40 storey office block just beside Menara Tun Razak by Tradewinds Corp Bhd is expected to be completed by 2014. After the refurbishment, the rental rate for the refurbished building and the new block is expected to be RM6.00 psf for the first three years.
- Magnum Plaza will be converted into a three star hotel to be part of Flamingo chains by Multi-Purpose Holdings Bhd.
- Andaman Land Sdn Bhd acquired two parcels of land measuring 18,493 sq ft and 3,122 sq ft together with a two storey office building with a net lettable area of 21,269 sq ft along Jalan Tun Razak for RM26 million from Nesline Sdn Bhd (Reliance Pacific Bhd)
-
OFFICE/HOTEL TRANSACTIONS
| Wisma Time |
| Vendor(s) |
STLR Sdn Bhd |
| Purchaser(s) |
Johor Land Bhd |
| Location |
Jalan Tun Razak |
| Tenure |
Freehold |
| Net lettable area |
171,611 sq ft |
| Price |
RM78,000,000 (analysed at RM454.50 psf) |
| Transaction Date |
04.06.2010 |
| Block C - Oasis Ara Damansara |
| Vendor(s) |
Sime Darby Brunsfield Holding Sdn Bhd and Sime Pilmoor Development Sdn Bhd |
| Purchaser(s) |
KUB Malaysia Bhd |
| Location |
Ara Damanasara |
| Tenure |
Freehold |
| Net lettable area |
92,293 sq ft |
| Price |
RM39,100,000 (analysed at RM423.65 psf) |
| Transaction Date |
03.06.2010 |
| Dynasty Hotel |
| Vendor(s) |
Gula Perak Berhad |
| Purchaser(s) |
Time Glory Investment Limited |
| Location |
Jalan Ipoh |
| Tenure |
Freehold |
| Net lettable area |
788 rooms |
| Price |
RM151,000,000 (analysed at RM191,624 per room) |
| Transaction Date |
28.06.2010 |
| Empress Hotel |
| Vendor(s) |
Gula Perak |
| Purchaser(s) |
Time Glory Investment Limited |
| Location |
Sepang |
| Tenure |
Freehold |
| Net lettable area |
320 rooms |
| Price |
RM42,900,000 (analysed at RM134,062 per room) |
| Transaction Date |
28.06.2010 |
COMMERCIAL PROJECTS
| Vox Tower @ Verve Suites - final block |
| Developer |
Bukit Kiara Properties Sdn Bhd |
| Location |
Bukit Kiara |
| Development |
250 units of serviced apartments |
| Built-up area |
From 462 sq ft (1 bedroom) to 1,395 sq ft (3 bedrooms) |
| Price |
From RM550,000 to RM1.8 million |
| Damansara Avenue |
| Developer |
TA Global Bhd |
| Location |
Bandar Sri Damansara |
| Development |
Parcel 1G - lifestyle retail and office suites in a 8 storey building - 44 retail/F&B outlets and 198 office suites |
| Built-up area |
Retail/F&B outlets - 1,700 to 2,500 sq ft - retain for rental investment
Office suites - 600 sq ft to 2,500 sq ft |
| Price |
Office suites - from RM400 to RM450 psf |
| Proposed Launch |
August 2010 |
| Development |
Phase 1A - 243 units of serviced apartments - 8 storey low-rise block and 30 storey highrise tower |
| Built-up area |
From 600 sq ft to 2,200 sq ft |
| Proposed Launch |
October 2010 |
| Greenhill Waterfront |
| Developer |
Green Hill Development Sdn Bhd |
| Location |
Shah Alam U10 |
| Development |
14 units of dual frontage double storey shop office |
| Land area |
1,540 sq ft |
| Price |
From RM579,900 - 100% sold |
| Platinum Park |
| Developer |
NAZA TTDI Sdn Bhd |
| Location |
Kuala Lumpur City Centre |
| Development |
50 storey Naza Towers - 50 and 38 storey tower
Luxury serviced apartment - early 2011-Platinum Park
Suites - 200 units
High end condominium - end 2011 or early 2012-Platinum Residences - 100 units
Lifestyle retail outlets - 200,000 sq ft
Final phase - 50 storey hotel
|
| Built-up area |
From 500 sq ft to 1,100 sq ft - Platinum Park Suites
From 2,000 sq ft to 3,500 sq ft - Platinum Residences |
| Ritz Corporate Suite |
| Developer |
Berjaya Corp Bhd |
| Location |
At the corner of Jalan Ampang and Jalan Sultan Ismail |
| Development |
46 storey office tower - 207 strata-titled units |
| Built-up area |
From 755 sq ft to 2,831, 2,379 sq ft to 4,069 sq ft and 5,210 sq ft to 7,890 sq ft |
| Price |
From RM1,000 psf and RM1,350 psf |
| Launch |
May 2010 - 15% sold |
- Eng Teknologi Holdings Bhd is allocating about RM100 million to expand its operations in Malaysia, Thailand and China this year while Dufu Technology Corp Bhd is investing RM12mil to increase production of HD components in Bayan Lepas Industrial Estate.
- Western Digital will be investing about US$1.2bil in Penang
-
Eight halal parks in the country has attracted a total of RM4.8 billion in investments. The 209.6 hectares techpark @ enstek was awarded Halmas certified status.
TRANSACTIONS
| Axis REIT Acquisitions |
| Development |
Axis PDI Centre |
| Location |
PT 3609 Mk Teluk Panglima Garang District of Kuala Langat |
| Component |
Warehouse |
| Tenure |
Leasehold |
| Land Area |
195,412 sq ft |
| Builtup Area |
58,009 sq ft |
| Price |
RM85,000,000 |
| Transaction Date |
03.06.2010 |
| Development |
Axis Technology Centre |
| Location |
13 Jalan 225 PJ51A |
| Component |
Warehouse |
| Tenure |
Leasehold |
| Land Area |
179,903 sq ft |
| Builtup Area |
170,730 sq ft |
| Price |
RM49,000,000 |
| Transaction Date |
03.06.2010 |
| Warehouse |
| Vendor(s) |
Bayplex Realty Sdn Bhd |
| Purchaser(s) |
C.I.Holdings Berhad |
| Location |
7 Jalan P/2A Bangi Industrial Estate Bandar Baru Bangi Selangor |
| Tenure |
Leasehold |
| Land Area |
679,052 sq ft |
| Built-up Area |
252,458 sq ft |
| Price |
RM29,500,000 |
| Transaction Date |
03.06.2010 |
| Warehouse (under construction) |
| Vendor(s) |
Modern Storage Sdn Bhd (Resintech Bhd) |
| Purchaser(s) |
Megatrax Plastic Industries Sdn Bhd |
| Location |
Lot 593 Sec 3 Bandar Teluk Panglima Garang Daerah Kuala Langat Selangor Darul Ehsan |
| Tenure |
Leasehold |
| Land area |
421,055 sq ft |
| Price |
RM8,407,971.72 |
| Transaction Date |
14.06.2010 |
| Factory and warehouse |
| Vendor(s) |
LHH & Sons Sdn Bhd |
| Purchaser(s) |
Multi-Code Electronics Industries (M) Bhd |
| Location |
PT119984 Jalan Canang Emas 7 Off Jalan Telok Gong Klang Selangor Darul Ehsan |
| Tenure |
Leasehold |
| Land area |
89,300 sq ft |
| Built-up area |
252,458 sq ft |
| Price |
RM29,500,000 |
| Transaction Date |
16.06.2010 |
| Factory and warehouse |
| Vendor(s) |
Salcon Building Services Sdn Bhd |
| Purchaser(s) |
The Store Corporation Berhad |
| Location |
Lot 328 Jalan 51A/223 46100 Petaling Jaya |
| Tenure |
Leasehold |
| Land area |
64,564 sq ft |
| Built-up area |
100,931 sq ft (gross) |
| Price |
RM20,000,000 |
| Transaction Date |
25.06.2010 |
LAND TRANSACTIONS
| Freehold commercial land in Setia City Precinct 1 |
| Vendor(s) |
Bandar Setia Alam Sdn Bhd |
| Purchaser(s) |
Khind Holdings Berhad |
| Location |
Setia Alam Shah Alam U13 |
| Tenure |
Freehold |
| Land area |
65,340 sq ft |
| Price |
RM7,840,800 (analysed at RM120 psf) |
| Transaction Date |
01.06.2010 |
| Development land in Cyberjaya Flagship Zone |
| Vendor(s) |
Cyberview Sdn Bhd and Setia Haruman Sdn Bhd |
| Purchaser(s) |
Omin Assets Sdn Bhd (Paramount Corp Bhd) |
| Location |
Cyberjaya |
| Tenure |
Freehold |
| Land area |
50.01 acres ( 2,178.435.6 sq ft) |
| Price |
RM78,423,681.60 (analysed at RM36 psf) |
| Transaction Date |
01.06.2010 |
| Development land along Jalan Madge Kuala Lumpur |
| Vendor(s) |
The Secretary of State for Foreign and Commonwealth Affairs of the United Kingdom of Great Britain and Northern Ireland (SSFCA) |
| Purchaser(s) |
Goodpark Development Sdn Bhd (KSL Holdings Berhad) |
| Location |
18 Jalan Madge Kuala Lumpur (Lot 123 G33682 Sec 89A) |
| Tenure |
Freehold |
| Land area |
36,427 sq ft |
| Price |
RM25,398,486 (RM697.24 psf) |
| Transaction Date |
14.06.2010 |
| Remarks |
Proposed 10 storey 50 unit luxury condominium |
| Industrial land in Batang Berjuntai |
| Vendor(s) |
Gula Perak Berhad |
| Purchaser(s) |
Perth International Limited |
| Location |
Batang Berjuntai |
| Tenure |
Freehold |
| Land area |
97.58 hectares |
| Price |
RM19,000,000 (analysed at RM194,712 per hectare) |
| Transaction Date |
25.06.2010 |
| Development land in Setapak |
| Vendor(s) |
Gula Perak Berhad |
| Purchaser(s) |
Perth International Limited |
| Location |
Setapak |
| Tenure |
Freehold |
| Land area |
118,451 sq ft |
| Price |
RM6,100,000 (analysed at RM51.50 psf) |
| Transaction Date |
25.06.2010 |
-
Mapletree Logistics Trust acquired three properties:
- Natural Cool Lifestyle Hub distribution centre in Singapore for S$53 million
- MLTM in Vietnam - a warehouse called Mapletree Logistics Centre - US$6.4 million (RM21.3 million)
- Sendai Centre warehouse in Japan for RM53.7 million
- Tan Chong to develop its Segambut land after 2013.
- Bristeel Properties Sdn Bhd plans to acquire up to 16 hectares of land at the Palm Oil Industrial Cluster in Lahad Datu to develop industrial shoplots for SME.
- Malaysia-Korea Technology Centre will be set up in Perak by Virtual Bridge Sdn Bhd to make and export telecommunications and ICT products using Korean technology. 30 South Korean companies have agreed to set up business at the industrial park.
- Sunway Real Estate Investment Trust initial public offering of 1.65 million was launched on June 15 2010.
- The 114-year Pudu Prison was demolished on June 21 2010 to make way for the mixed development project which include transit centres, service apartments, offices, recreational centres, hotels and business lots. The project will span over a period of ten years.
-
TSR Capital Bhd subsidiary TSR Ocean Park Sdn Bhd is undertaking several projects in Port Dickson:
-
Phase 1 of TSR Ocean Park :
- PD Waterfront, a RM1.8 billion commercial sea-facing development consists of healthcare centre cum college, duty-free mall with CIQ complex, hotels shops, a hypermarket, convention centre and water theme park, 25 units of two and three storey shops with about 70,000 sq ft of built-up area will be ready by September 2010 and available for rental.
- A supermarket with 76,000 sq ft of space to be run by TF Value Market Sdn Bhd to be ready by September 2010.
- 102 units of three and four storey shop-office buildings - 20 x 75 to 33 x 65 (corner lots) with a proposed selling from RM763,000 to RM843,000.
- 280-room budget hotel
- Phase 2 of TSR Ocean Park is a three star hotel with 380 rooms.
- Penang's 1st Avenue Mall with a builtup area of 655,000 sq ft is expected to open in September 2010.
- CapitaMalls Malaysia Trust was launched on June 28 2010 with an initial pubic offering of 786,522,000 units.
- The Philea Resort & Spa - Asia's largest log resort located on 5.7 ha site in Ayer Keroh, Melaka owned by Sanbumi Holdings Bhd was officially opened on June 19 2010.
- A proposed RM30b MRT system is planned to improve public transport in the Klang Valley
- In 2009, China saw sales of 8.5 million new residential units whereas the United States only had 500,000 units sold according to a Wealth Report 2010.
- Amidst the interest rate hike in Australia, the property market still remained active in the last quarter with house prices growing at the fastest pace in six years.
- The lowered supply of cage homes in Hong Kong due to redevelopment works on old buildings have pushed up its rental rates. Occupants of cage homes are now paying about HK$100 per square foot for about 15 square feet of space.
- The secondary property market in Hong Kong is slowing down amidst cautious investor sentiments on cooling measures announced by the government.
- Chinachem Charitable Foundation, the late Nina Wang's biggest property folly has resurfaced after 8 distressed years. They recently ordered leasing out of flats within its 129 Repulse Bay Road residential tower.
- The Oxford Business Group expects Qatar's real estate sector to grow by about 7% in 2010.
- The world's longest seawall spanning a length of 33.9 kilometres has been completed in South Korea. The seawall blocks a tidal flat and the South Korean government targets to transform it into an industrial, tourist and agricultural site by 2020.
- The world's fifth largest pension fund, the South Korean NPS is in the final stage of buying the Sony Centre in Berlin for a consideration of US$767 million.
- India's central bank has raised interest rates for the second time in two months. It is expected that Australia would do the same, both in an effort to keep inflation in check. Additionally, within the G20 countries, these are the only ones that have raised the interest rates thus far.
- The United States Commerce Department reported that there has been an increase in the total number of housing permits issued for the construction of new homes, an indication that the housing market is picking up.
- UEM Land Holdings Berhad intends to dispose its 20% in Touch 'N Go Sdn. Bhd. to PLUS Expressways Berhad for a consideration of RM 33.406 million.
- Prokhas's tender exercise carried out from April 5, 2010 on behalf of Pengurusan Danaharta Nasional Bhd. received a positive response with more than 350 tender packages sold.
- Separately, as of now, Prokhas has on behalf of Danaharta collected a total of RM2.92 billion and expects that it will collect another RM650 million by year end 2011.
- Ho Hup Construction Company Bhd. has filed a suit against the sale agreement made between Bukit Jalil Development Sdn. Bhd. and Pioneer Haven Sdn. Bhd.. It seeks to nullify the agreement and have Pioneer Haven Sdn. Bhd. account for benefits of all forms accrued from the agreement.
- General Corp Bhd. is currently undergoing a takeover exercise by two major shareholders for RM505 million.
- The Sultan of Selangor officially launched the Shah Alam Convention Centre (SACC) which was completed in 2009 at a total development cost of RM66 million.
- The disputes with regards to the Second Penang Bridge have finally been resolved. The RM1.55 billion tripartite construction agreement was finally signed and the bridge is expected to be ready by year end 2013.
- A Special Fund will be set up by the Federal Government to implement development projects in Sabah and Sarawak.
- Ken Holdings Bhd. has decided to venture into the hospitality industry in order to generate recurring income for the Group.
- Rating standards for township developments and industrial buildings is currently being developed by Malaysia's Green Building Index. The rating for townships is expected to be ready by the second half of the year.
- The RM570 million, South Integrated Transport Terminal (SITT) in Bandar Tasik Selatan is expected to be ready by July. SITT is to replace Puduraya as Kuala Lumpur's main terminal for southbound buses.
- SP Setia Bhd has teamed up with Firefly Sdn. Bhd. for a marketing and branding campaign to which the Firefly planes will bear the company's logo on the exterior and passengers would find information packets on the developer including new launches.
- A RM50 million allocation has been proposed by the Human Resources Ministry to assist plantation workers in purchasing homes.
- RM380 million has been allocated by Malaysian Resources Corporation Berhad (MRCB) to expand its landbank of premium properties.
- The listing of Penang as a Unesco World Heritage Site has resulted in the Boustead's Royale Bintang Hotel development being scaled down to a 5-storey height by the Penang government. The developer is seeking compensation from the government for an amount of RM60 million.
- The Malaysian Inland Revenue Board announced that the tax relief on housing loan interest is for a maximum of RM10,000 for a period of 3-consecutive years from the date the interest was expended. The tax relief is only available for Malaysian citizens / residents and sale and purchase agreements executed between March 10, 2009 to December 31, 2010.
- Fire victims whose houses are burnt down will now be able to withdraw their EPF Savings from Account 2 to rebuild their homes provided the fulfill they condtions precedent.
- KYM Holdings Berhad is also looking to expand its landbank in Kuala Lumpur and is scouting for development land for the development of high-end residential and commercial properties.
- Talam Corporation Berhad has disposed of several parcels of land located in Bukit Beruntung 2, Serendah and Ulu Yam in order to settle debts to the Menteri Besar Selangor Incorporated.
- Mah Sing Group Berhad is also actively scouting for development lands to meet its market demands.
| Subang Parkhomes |
| Developer |
Titijaya |
| Location |
Subang Jaya |
| Development |
7 blocks of 5 and 9-storey condominiums
Phase 1 - 17 units of detached houses
Expected completion in 2012
|
| Built-up area |
1,200 sq. ft to 2,500 sq. ft. |
| Price |
Official launch in April 2010 from RM545 p.s.f. |
| Remarks |
Phase 2 will be launched in September 2010 from RM590 p.s.f. |
| Armada Villa |
| Developer |
Faber Group Berhad |
| Location |
Taman Desa, Old Klang Road |
| Development |
40 units of 3-storey semi-detached houses and 6 units of 3-storey bungalows |
| Semi-detached houses |
| Land area |
3,040 sq. ft. to 5,500 sq. ft. |
| Built-up area |
3,833 sq. ft to 4,549 sq. ft. |
| Price |
From RM2.6 million to RM3.4 million |
| 3-storey bungalows |
| Land Area |
7,100 sq. ft. to 12,800 sq. ft. |
| Builtd-up Area |
5,116 sq. ft. to 7,881 sq. ft. |
| Price |
RM4.7 million to RM7.5 million |
| Remarks |
70% sold as at June 2010 (only bumiputera units available) |
| Kenanga Woods |
| Developer |
AMDB Berhad |
| Location |
Section U10, Shah Alam |
| Development |
27 units of 2 & 2?-storey bungalows |
| Land area |
10,247 sq. ft to 24,340 sq. ft. |
| Built-up area |
4,000 sq. ft. to 4,300 sq. ft. |
| Price |
Priced from RM 2.1 million to RM2.7 million |
- 28 Mont' Kiara bagged Best Residential High-Rise Development Malaysia and the Best Residential High-Rise Development at the Asia Pacific awards.
- Crest Builders Holdings Bhd. has decided to defer its Kiara Crest project launch in Mont' Kiara citing concerns of oversupply within the area to end-2011.
- Mutiara Goodyear Development Berhad intends to launch four more residential projects worth about RM1.6 billion by year end. These projects would be located in Taman Melawati, Kajang, Sunway and Bukit Gambir, Penang.
- The RM91.5 million proposed sale and leaseback of two plots of leasehold land in Technology Park Malaysia together with a 4?-storey office cum manufacturing building made between Iris Corporation Berhad and Mapletree Industrial Fund Pte. Ltd. In 2007 has been called off.
- Putra Place has been put up for auction once again with the auction price tagged at RM571.05 million. The auction is to take place on June 28, 2010.
- Axis Atrium Mall in Pandan opened its doors in March 2010. The mall offers a total built-up area of 218,000 sq. ft. and has secured Carrefour to be its anchor tenant. The full development comprising the retail mall, serviced apartments and home offices (SoHu) units is expected to be complete by year end.
- Sunway Giza located along Persiaran Surian, Kota Damansara also opened early this year. The mall has a nett lettable area of 100,000 sq. ft. with Grocer Village as its anchor tenant. The development comprises 57 retail outlets together with 48 retail outlets on a boulevard that links the mall to nearby shop/offices.
- Sunrise Berhad intends to develop Wisma Amanah Raya on Jalan Ampang into Solaris Tower, an office tower with a total built-up area of 550,000 sq. ft. It will comprise 250 office units with sizes ranging from 1,000 sq. ft. to 8,000 sq. ft., 5 retail lots with a total built-up of 20,000 sq. ft. together with 700 car parking bays.
- Sunway Group intends to develop two green office towers within Bandar Sunway. The first tower will have a nett lettable area of 277,000 sq. ft. and is to be located beside the Sunway Resort Hotel and Spa whereas the second office tower will comprise a nett lettable area of 550,000 sq. ft. and will be located next to Menara Sunway.
- The Best Business Hotel by the BrandLaureate Awards 2010 was snagged by Shangri-La Hotel Kuala Lumpur for the fourth consecutive year.
- Mah Sing Group has released the final 12 duplex office units within its Southgate Commercial Centre Development on Sungai Besi. It has built ups from 892 square feet to 1,712 square feet and is being priced from RM470,500 onwards.
- Sunway Holdings Bhd. has been awarded a RM88 million contract to construct Phase II of Impiaan KLCC. The hotel development will comprise a 22-storey tower block with an additional 3-storey of car parking levels atop the existing 4-storey car park podium in Impiana KLCC.
- YTL Group launched its commercial component within Midfields Square, Sungai Besi. The development details are as follows:-
| Midfields Square @ Sungai Besi |
| Developer |
AMDB Berhad |
| Location |
Section U10, Shah Alam |
| Development |
27 units of 2 & 2?-storey bungalows |
| Land Area |
10,247 sq. ft to 24,340 sq. ft. |
| Built-up area |
4,000 sq. ft. to 4,300 sq. ft. |
| Price |
Priced from RM 2.1 million to RM2.7 million |
| A piece of leasehold unconverted development land in Taman Equine |
| Vendor(s) |
Taman Equine Riding Sdn. Bhd. |
| Purchaser(s) |
Sunway Holdings Berhad. |
| Location |
Taman Equine, Seri Kembangan |
| Tenure |
Leasehold |
| Land Area |
About 33.37 acres (about 1,453,597 sq. ft.) |
| Price |
RM37,793,527.20 (analysed at RM26/- p.s.f.) |
| A piece of leasehold commercial land in Taman Equine |
| Vendor(s) |
Equine Capital Sdn. Bhd. |
| Purchaser(s) |
Safetags Solution Sdn. Bhd. |
| Location |
Taman Equine, Seri Kembangan |
| Tenure |
Leasehold |
| Land Area |
6.04 acres (or 263,102 sq. ft.) |
| Price |
RM19,600,000 (analysed at RM74.50 p.s.f.) |
| 4 parcels of freehold land and one plot of leasehold land located in Bukit Beruntung 2 |
| Vendor(s) |
Talam Corporation Berhad |
| Purchaser(s) |
Menteri Besar Selangor Incorporated |
| Location |
Bukit Beruntung 2 |
| Aggregate Land Area |
About 1,322.44 acres (or 57,605,486 sq. ft.) |
| Price |
RM345,63,918.40 |
| Remarks |
The said consideration is based on RM4.70 p.s.f. for the development land and RM1.30 p.s.f. for contribution towards the costs and expenses of the main infrastructure |
- The U.S. Consumer confidence rebounded in March indicated by further gains in consumer spending and improvements in labour market conditions.
- The Bank of America and several other banks have agreed to forgive some bad mortgage loans, mainly by lowering principal repayments from borrowers with the biggest troubles. However, it will be done in a small scale, negligible in contrast to the total amount of bad debt in America.
- Britian's economy grew by 0.4% in the last three months of 2009, indicating that they are emerging from an 18-month recession. As a whole, Britian's economy contracted by 3.1% in 2009.3
- The UK government has rejected the EU's calls to cut its ballooning budget deficit in mid term as they believe that this would cause irreparable damage to the economy.
- Recovery in the UK housing market remains sluggish. In February, the Bank of England posted the lowest number of mortgages approvals in nine months.
- Debt concerns in the Euro Area resulted in the Euro hitting a 10-month low in March.
- China is planning to expedite the launch of a property tax.
- Separately, 78 state companies whose core business is not properties were ordered to submit plans to divest from that industry.
- China is now the world's largest commercial real estate investment market, replacing the United States.
- Nakheel, the property arm of Dubai World has received help from the Dubai government totalling US$ 1.7 billion to redeem the sukuk instruments issued by the company.
- The opening of the largest water hotel in Abu Dhabi is to happen this year. The Venetian themed resort, developed by JW Marriot, is set to be the most beautiful of tourist resorts in the Gulf and Arab regions.
- Hong Kong topped the worlds list as the most expensive location to rent office spaces with rents in the range of RM43 p.s.f. per month
- Hong Leong Bank Berhad has offered RM4.92 billion cash to acquire the stakes of EON Capital Berhad.
- Northport aims for 10-15% growth volume in 2010 in containers handling volume.
- In an effort to eliminate the possibility of abandoned projects, REHDA is proposing a Home Completion Guarantee Scheme that would allow them to complete the project should a problem arise.
- The Malaysian government has identified several tracts of prime land to be put up for tender. These plots of land are strategically located in the proximity of Kuala Lumpur city centre.
- Bank Negara Malaysia has revised the Overnight Policy Rate (OPR) by 25 basis points to 2.25% to normalise monetary conditions and to prevent the risk of financial imbalances.
- IJM has accepted the Letter of Award for the Besraya Elevated Expressway for the fixed lump sum of RM600 million.
- Bank Negara Malaysia will issue seven (7) more banking licenses, 5 for conventional banking and 2 for Islamic banking. The licenses are set to be issued in May/June.
| Twin Palms Sungai Long |
| Developer |
Lum Chang |
| Location |
Bandar Sungai Long |
| Development |
Tsara Bungalows |
| |
Phase 1 - 17 units of detached houses |
| |
Expected completion in 2012 |
| Land Area |
5,019sq.ft. |
| Price |
From RM1.76 million |
| Palace Residence @ Mines Resort City |
| Developer |
Golden Horses Berhad |
| Location |
Mines Resort City |
| Development |
A 19-storey hotel cum serviced residence with a total of 226 one-bedroom suites and 156 two-bedroom suites and 4 penthouses |
| Built-up Area |
500 sq. ft / 1,100 sq.ft to 1,400 sq. ft. |
| Price |
In the region of RM900,000 to RM1.4 million |
| Bandar Saujana Putra |
| Developer |
LBS Bina Group Bhd. |
| Location |
Bandar Saujana Putra |
| Development |
Phase I - Ivory Residences |
| |
88 units of double-storey semi-detached cluster link houses |
| Land Area |
1,760 sq. ft. |
| Built-up Area |
1,722 sq. ft. |
| Price |
Priced from RM339,900 to RM426,100 |
| Sixceylon |
| Developer |
Bolton Bhd. |
| Location |
Bukit Ceylon |
| Development |
A 33-storey condominium comprising 215 units. |
| Built-up Area |
From 696 sq. ft. to 1,555 sq. ft. |
| Price |
In the region of RM600,000 to RM1.2 million |
| Remarks |
The development will take place over Bolton Court |
| Desa Mas @ Bangi |
| Developer |
Kuala Lumpur Metro Group |
| Location |
Bangi |
| Development |
30 units of 2-storey semi-detached houses |
| Land Area |
2,812 sq. ft. |
| Built-up Area |
2,639 sq. ft. |
| Price |
In the region of RM520,000/- to RM638,600/- |
| Nadayu |
| Developer |
Mutiara Goodyear |
| Location |
Melawati |
| Development |
142 units of 3-storey bungalows |
| |
Phase 1 - 21 units |
| Land Area |
8,500 sq. ft. |
| Built-up Area |
From 6,477 sq. ft. to 8,401 sq. ft. |
| Price |
From RM5.6 million |
| Seri Pilmoor @ Ara Damansara |
| Developer |
Sime Darby Property |
| Location |
Ara Damansara |
| Development |
74 units of 3-storey bungalows and 34 units of 3-storey semi-detached houses |
| Phase 1 |
| Component |
34 units of 3-storey semi-detached houses |
| Land Area |
3,767 sq. ft. |
| Built-up Area |
4,628 sq. ft. |
| Price |
RM2.8 million (100% sold) |
| Component |
34 units of 3-storey bungalows |
| Land Area |
6,071 sq. ft. |
| Built-up Area |
6,749 sq. ft. |
| Price |
RM4.57 million (50% sold) |
| Milano @ Kemuning |
| Developer |
Jaya Upaya Corporation Sdn. Bhd. |
| Location |
Kota Kemuning |
| Development |
38 units of 3-storey bungalows |
| Land Area |
From 4,000 sq. ft to 7,500 sq. ft. |
| Built-up Area |
4,235 sq. ft. |
| Price |
From RM1,547,000/- to RM2,320,000/- |
- JAKS Island Circle Sdn. Bhd. and Star Publications (Malaysia) Berhad have entered into an agreement to jointly develop P.T. No. 16 within Section 13, Petaling Jaya. The parcel of land is currently leased to UTAR Education Foundation at a monthly rental of RM115,800 and has a land area measuring 264,456 sq. ft.
- The proposed development is to comprise two 20-storey office blocks (of which one block is to be leased to UTAR for 20 years at a monthly rental of RM2.20 p.s.f inclusive of service charge), one 15-storey office block to be occupied by The Star and one 15-storey residential block
- Federal Auto Holdings Bhd has entered into a conditional Sale and Purchase Agreement with Kiara Seleksi Sdn. Bhd. to purchase an automotive showroom and service centre in Sri Hartamas for RM20 million. It measures 14,000 square feet and 12,000 square feet respectively and will be developed over the parcel of land purchased by Kiara Seleksi Sdn. Bhd. in December 2009.
- UOA REIT Acquisitions
| Development |
Parcel B - Menara UOA Bangsar |
| Location |
Bangsar |
| Components |
A 24-storey office building comprising 15 levels of office space, 3-retail levels, 6 levels of elevated car parks and 4-levels of basement car parks with a total of 1,223 car parking bays |
| Tenure |
Leasehold |
| Nett Lettable Area |
312,298 sq. ft. |
| Occupancy Rate |
88.5% (newly completed) |
| Price |
RM289 million (analysed at RM925 p.s.f.) |
| Development |
Wisma UOA II Damansara |
| Location |
Damansara Heights |
| Components |
A 16-storey office building with 5 levels of basement car parks with a total of 600 car parking bays |
| Tenure |
Freehold |
| Nett Lettable Area |
296,850 |
| Occupancy Rate |
87% |
| Price |
RM211 million (analysed at RM711 p.s.f.) |
- The G City Club Hotel in G Tower is set to commence operations in April 2010. The hotel comprises 180 rooms whereas the club is spread over 10,000 sq. ft over 3-levels in the Gtower building.
- Wisma Time on Jalan Tun Razak has been put up for sale by tender at an indicative price of RM80 million (analysed at RM466 p.s.f.). It boasts a net floor area of 171,611 sq. ft. and is currently 68% occupied.
- Mint Hotel along Jalan Sungai Besi has been leased to Barateguh Sdn. Bhd. (subsidiary of Sanbumi Holdings Bhd.) for a period of 9 years. Barateguh has agreed to pay a monthly rental of RM250,000/- per month for the first 3 years, RM275,000/- per month for years 4 to 6 and RM302,500 per month for years 7 to 9.
| A piece of freehold industrial land in Bukit Jelutong |
| Vendor(s) |
The New Straits Times Press (Malaysia) Berhad |
| Purchaser(s) |
Megah Selesa Development Sdn. Bhd. |
| Location |
Bukit Jelutong |
| Tenure |
Freehold |
| Land Area |
About 5 acres (about 217,800 sq. ft.) |
| Price |
RM15,899,964.10 (analysed at RM73/- p.s.f.) |
| A piece of freehold development land along Jalan Eaton |
| Vendor(s) |
BH Insurance (M) Bhd. |
| Purchaser(s) |
Title Winner Sdn. Bhd. (subsidiary of Boustead Holdings Bhd.) |
| Location |
Jalan Eaton, Kuala Lumpur |
| Tenure |
Freehold |
| Land Area |
About 0.825 acres (35,958 sq. ft.) |
| Price |
RM15,790,000 (analysed at RM439.12 p.s.f.) |
| A piece of freehold development land located in Segambut |
| Vendor(s) |
Quill Buildings Sdn. Bhd. |
| Purchaser(s) |
Bumi Pipeline Services Sdn. Bhd. (part of the Bina Puri Group) |
| Location |
Segambut |
| Tenure |
Freehold |
| Land Area |
About 3.344 acres (145,659 sq. ft.) |
| Price |
RM11,652,692 (analysed at RM80/- p.s.f.) |
| Remarks |
The said land is intended for the development of 30 units of 3-storey linked bungalows |
- Malton's subsidiary Pioneer Haven Sdn. Bhd. has entered into a joint-venture agreement with Bukit Jalil Development Sdn. Bhd. for the development of a piece of freehold land in Bukit Jalil worth RM2.5 billion.
- Talam Corp Bhd. disposed two pieces of land measuring 41.69 acres and 8.10 acres respectively in Kuala Langat to Malaysian Allied Health Services Academy Sdn. Bhd. for a consideration of RM35,407,310.40.
- Capitaland's latest high-end residential project in Beijing launched late February 2010 was well received and is about 95% sold within a couple of weeks.
- Mapletree India China Fund intends to acquire Beijing Gateway Plaza for a consideration of RMB2.9 billion (or about US$ 424 million).
- The 5-star Sofitel Wentworth Hotel in Sydney has been put up for sale.
- An asset bubble in Hong Kong is looking more likely as high property prices are financed over low interest rates.
- Centro Properties Group intends to sell its A$202 million Surfers Paradise mall in the Gold Coast in an effort to raise funds.
- Liberty, the owner of Tudor Building in London's West End, is planning to dispose the landmark building worth 41.5 million pounds via a Sale and Leaseback Agreement.
- World Trade Organisation (WTO) announced that global trade decreased by 12% in 2009.
- US trade deficit widened in December as imports rose faster than exports.
- 4 more US banks closed, bringing total number to 20.
- Bernanke announced that US interest rates will be kept low as US still struggles with high unemployment and weak housing market.
- Australian employers added a record number of 52,000 workers in January, highest compared to the past 3 years. Speculation that the central bank will resume its interest rates caused currency to rise.
- Statistics for transactions of residential properties in UK shows that January has been a slower month compared to the past 30 months.
- Shell to retrench 1,000 more workers as profit continues to fall
- UN study revealed that the current economic crisis may cause 21 million people to suffer from poverty as there is too much focus on other areas except social expansion.
- Greece suffers from protest from private and public unions at announcement of severe budget cuts. Earlier, the government froze wages for civil servants and 10% cut on salary allowance. It is also considering increasing value added tax, fuel tax and tax on luxury goods in addition to more cuts on allowances.
- China overtook Germany last year as world's top exporter.
- Analyst expects China's property market to undergo a correction this year after 2009's surge.
- Japan surprised many when its economy unexpectedly grew by 4.6% last quarter.
- Japan Airlines (JAL) plans to lay off 15,700 workers after it announced its bankruptcy last month
- India's economy seems optimistic as its Finance Ministry predicts growth to surpass 8%.
- Singapore's GDP shrank by 5.2% last quarter and is planning to introduce another expansionary program.
- The Prime Minister announced that Malaysia's GDP grew by 4.5% in 4Q last year.
- Bank Negara likely to raise key interest rates in the coming month.
- Tourism Malaysia will introduce several programs and events in an attempt to woo 24 million tourists this year.
- MAHB plans to raise RM2 billion to RM2.5 billion to build a new low-cost carrier terminal (LCCT) in Sepang.
- EON Bank rejected Hong Leong Bank's offer on the purchase of major stake.
- Bank Negara has rejected Mulpha's application to buy EON Cap's stake.
| 16 Sierra, Puchong |
| Developer |
IOI Properties Berhad |
| Location |
Puchong |
| Development |
Phase 1: 147 units of 2-storey terraced houses (Adenia) |
| Land Area |
1,650 sq.ft. |
| Built-up Area |
2,237 sq.ft. |
| Price |
RM448,000 |
| The Pearl @ KLCC |
| Developer |
Ceramic Home Tiles Sdn. Bhd. (a member of the Malton Group) |
| Location |
Jalan Stonor, KLCC |
| Development |
A 41-storey high-end condominium comprising 177 units |
| Built-up area |
3,439 sq. ft. |
| Price |
RM3.00 million onwards (or analysed @ RM872 p.s.f.) |
| Expected Completion |
2011 |
| 9 Bukit Utama, Bandar Utama |
| Developer |
Bukit Utama Development Sdn. Bhd. |
| Location |
Bandar Utama |
| Development |
3 blocks of 41-storey condominiums with a total of 911 units |
| Built-up area |
From 2,200 sq. ft. |
| Price |
To be priced from RM400 p.s.f. |
| Remarks |
Target launch : Second quarter 2010 |
| Vue Residence |
| Developer |
Prinsiptek Corp Bhd. |
| Location |
Jalan Pahang |
| Development |
A 24-storey condominium block comprising of 272 condominium units together with a 2-storey commercial podium housing 8 retail units with a nett lettable area of 10,000 sq. ft. |
| Built-up area |
500 and 1,300 sq. ft. |
| Price |
Units with an area of 500 sq. ft. RM500 p.s.f. onwards
Units with an area of 1,300 sq. ft. RM600 p.s.f. onwards |
| Expected completion |
Mid 2013 |
| Remarks |
The development will include 325 car parking bays |
- Gema Padu Group is undertaking to revive the abandoned Emville Golf Resort, launched in 1998.
| (Serviced Apartments), along Jalan Ampang |
| Developer |
Land and General Berhad |
| Location |
Jalan Ampang |
| Development |
1,000 service apartment units |
| Built-up area |
Not available |
| Price |
To be price between RM500 p.s.f. to RM600 p.s.f. onwards |
| Expected completion |
2013 |
| i-City |
| Developer |
I-Berhad |
| Location |
Shah Alam |
| Development |
Phase 2 |
| Built-up area |
The development will offer between 300,000 to 400,000 sq. ft. of office space |
| Expected completion |
2013 |
- Ho Hup Construction Co. Bhd. launched its intergrated commercial and residential development known as Jalil Green City. The development will comprise 6 high-end residential towers, 3-grade A MSC status offices, a 12-storey office building, 5 to 8-storey offices, a 1.5 million sq. ft. shopping mall and recreational and green facilities.
- Ampwalk on Jalan Ampang has been put up for sale by the owner Permata for an estimated price of RM85 million. It consists of 65,000 sq.ft. of retail space and 70,000 sq. ft. of office space.
- Hwang DBS Investment Bank Berhad acquired No. 227, Jalan Ampang, 50450 Kuala Lumpur from Institut Pengurusan Malaysia at a consideration of RM45.7 million. The property comprises a 3-storey office building with two basement levels together with an annexed residential building. The office building is approximately 3 years old and has a built-up area of about 45,127 square feet.
- Myvilla Development (part of the Mah Sing Group) has acquired a parcel of commercial land measuring 6.32 acres in Cyberjaya for the consideration of RM21,248,002/- (analysed @ RM77.18 p.s.f.). The land is adjacent to the 115.525 acres of land acquired earlier.
- Tujuan Ehsan Sdn. Bhd. (subsidiary of Equine Capital Bhd.) has disposed a parcel of leasehold residential land measuring 8.47 acres in Putra Permai, Seri Kembangan to Meridian Score Sdn. Bhd. for a consideration of RM11.1 million (analysed at RM30.09 p.s.f.).
- Multi Synergy Group Sdn. Bhd. (subsidiary of Mah Sing Group) entered into an agreement with Quill Industrial Properties Sdn. Bhd. for the acquisition of a parcel of freehold land located in Hicom Industrial Estate, Shah Alam for the consideration of RM45,490,072.82 (analysed at 54.45 p.s.f.). The land measures 19.18 acres and is to be developed into iParc2.
- Sime Darby is keen to expand its landbank locally and abroad and has a target of 1 million hectares. In 2009, they invested US$800 million to develop 200 hectares of rubber and oil-palm estates in Liberia.
- Sunway Holdings Berhad has been awarded a RM21.48 million contract to develop 100 2-storey cluster homes together with one TNB substation by Sunway City Bhd.
- Sunway City Bhd. is proceeding with the proposed listing of its Real Estate Investment Trust. It has appointment RHB Investment Bank and Credit Suisse (Singapore) as Joint Global Coordinators and RHB Investment Bank as Sole Financial Adviser. The REIT would consist of selected properties either fully or partly owned by the group.
- IMF forecasts world economy to grow by 3.9% this year.
- Unemployment continues to rise even as the economy recovers.
- Regulators from top developed countries told tighter regulations will be enforced soon as move to avoid the most recent financial meltdown.
- Capitaland purchased US2.2 billion worth of properties in China from Orient Overseas International Ltd.
- Asia shows signs of recovery from economic crises, led by China and India.
- Japan Airlines filed for bankruptcy this month. JAL also cut pension by 30% due to its financial constraints.
- On a positive note, Japans' export starts to show improvements for the first time in 15 months.
- China's inflation causes concern. China's GDP last year accelerated to a 10.6% growth.
- Greece announced a 3-year plan to deter budget deficit.
- Argentina's plan to use USD6.5 billion to payoff the country's debt has been halted by the court.
- UK's inflation rate jumped as it emerges from recession.
- Hong Leong in talks with Khazanah to buy over the latter's stake in EON Bank.
- Malaysia may raise the interest rates soon as economy strengthens.
| The Peak, Bukit Prima |
| Developer |
Yuk Tung Group / HR United Group |
| Location |
Cheras |
| Development |
Phase 2B: 85 units of 3-storey semi-detached houses |
| Land Area |
3,600 sq.ft. |
| Built-up Area |
4,519 sq.ft. |
| Price |
|
| Development |
Phase 2C: 12 units of 3-storey semi-detached houses |
| Land Area |
3,200 sq.ft. |
| Built-up Area |
3,895 sq.ft. |
| Price |
Starting from RM1.312 million |
| Development |
Phase 2D: 25 units of 3-storey semi-detached houses |
| Land Area |
4,400 sq.ft. |
| Built-up Area |
4,034 - 4,789 sq.ft. |
| Price |
Starting from RM1.18 million |
| Seputeh Garden |
| Developer |
Planet Uno Sdn. Bhd. |
| Location |
Taman Seputeh |
| Development |
42 units of 3-storey bungalow with lap pool |
| Land area |
4,520 to 8,000 sq.ft. |
| Built-up |
6,000 to 8,000 sq.ft. |
| Price |
Starting from RM4,080,000/- |
| Matahari Luxury Super Condo |
| Developer |
Maymont Development Sdn. Bhd. |
| Location |
Sri Hartamas |
| Development |
158 high-end condominium units |
| Built-up area |
3,090 to 10,823 sq.ft. |
| Price |
Starting from RM3.1 million to RM10.8 million |
| Verticas Residensi |
| Developer |
Wing Tai Asia |
| Location |
Bukit Ceylon |
| Development |
Tower B -135 condominium units |
| Built-up area |
1,400 to 2,400 sq.ft. |
| Price |
RM1,100 psf |
| Note |
Tower C was sold enbloc to Lanson Place |
| One Damansara |
| Developer |
MK Land Holdings Bhd |
| Location |
Damansara Damai |
| Development |
899 condominium units |
| Built-up area |
1,396 - 2525 sq.ft. |
| Price |
Starting from RM167 psf |
| Five Stones Phase 2 |
| Developer |
SDB Properties Sdn. Bhd. |
| Location |
SS2, Petaling Jaya |
| Development |
192 condominium units |
| Built-up area |
2,024 - 3,633 sq.ft. |
| Price |
Starting from RM495 psf |
- YNH Property Bhd is expecting to start work on the proposed Menara YNH along Jalan Sultan Ismail in 6 months time. The project will have two 45-storey office blocks with 600,000 sq.ft. net lettable area and 300,000 sq.ft. of retail space. The retail space was sold earlier to several local and foreign investors for RM300 million.
- The government has issued warning to contractor to start work soon on Plaza Rakyat or lose the job.
- Amanahraya REIT is proposing to acquire Selayang Mall and Dana 13 for RM227 million. Selayang Mall, with gross floor area of 861,530 sq.ft. and currently leased to Seal Incorporated Bhd until 2016, is being negotiated at RM132 million whilst Dana 13, with gross floor area of 333,438 sq.ft and currently leased to Symphony House Bhd until 2019, at RM107,800,000/-.
- KL Plaza is now known as Fahrenheit 88. The new name will come with a new look costing about RM100 million and 300,000 sq.ft. of net lettable area. The building will open its doors in August 2010.
- E&O's RM1.8 billion Quayside Seafront Resort Condominium, Penang will be open for marketing next month. The mixed development will boast an international marina, water taxi and retail outlets and will span over a period of 7 to 10 years.
- Two of the most prominent developers, Sime Darby and Sunrise Bhd will be joint-venturing in a commercial development in Bukit Jelutong. The 20.95 acres of land will be developed over a span of 7 years with an estimated GDV of RM1 billion.
- Sunway City Bhd has launched Sunway Tower, formerly known as Wisma Denmark. The 27-storey building was refurbished for RM26 million and now has a net lettable area of 276,000 sq.ft. The currently has 100% occupancy at a rental rate of RM5.50 psf.
- The newly refurbished Micasa All Suites Hotel has reopened its doors last month.
- Strategic Development Sdn. Bhd. acquired 4.08 acre land in Taman Selaseh Gombak for RM13.5 million (or analysed @ RM76 psf).
- The Selangor government is considering to acquire a piece of land in front of The Summit USJ as part of the rail transit extension.
- Gold price climbed as high as US1,226/- an ounce but later fell as US dollar extended gains against euro.
- China is expected to grow by 8% next year.
- China's asset bubble remains a fear. House prices in 70 major cities surged in the past 14 months. In Beijing, record prices were made as developers outbid each other for development sites. Beijing government plans to introduce measures to control property prices.
- Singapore announced that it grew by 3.5% in 4Q09.
- MIER predicts Malaysia to grow by 4% in 2010.
- Bank Negara's international reserves rose by RM144 million.
- The government has clarified that the RPGT of 5% is applicable for properties sold within 5 years of its purchase.
- Goldman Sachs will be setting a fund management and corporate finance advisory in Malaysia.
- Proton to export 50% of its total production of Exora to Australia and the Middle East within 3 years.
-
Anjung Sari
Developer: Sazean Development Sdn. Bhd.
Location: Setia Alam, Shah Alam
Development: Phase 1A - 10 units of 3-storey semi-detached houses
Land Area: 3,600 sq.ft.
Price: Starting from RM1,200,000/-
Phase 1B
120 units of 3-storey superlink houses
Land Area: 1,650 sq.ft.
Built-up Area: 2,932 to 3,178 sq.ft.
Price: RM548,888/- to RM850,000/-
-
Casa Tropika
Developer: TSI Holdings Sdn. Bhd.
Location: Puchong
Development: 520 units of apartment
Built-up: 980 to 1,400 sq.ft.
Price: RM250 psf
-
Covillea@Bukit Jalil
Developer: Bukit Jalil Golf Resorts
Location: Bukit Jalil
Development : 2 blocks of high-rise blocks with 308 units of condominium and 4 blocks of low-rise blocks with 32 units of condominium
Built-up area: 1,293 sq.ft.
Price: Starting from RM440,000/-
Land area : 4,500 sq.ft.
Built-up area : 3,390 sq.ft.
Price : Starting from RM1,588,888/-
- Mah Sing remains active despite the uncertain economic outlook. The developer plans to launch a RM280 million high-end condominium project in Penang and will be joint-venturing with China's Danlong Realty (Beijing) Ltd on a USD620 million project in Jiangsu province.
-
GM Klang Wholesale City in Bandar Botanic, the one-stop fashion city is currently under construction.
It will span over a gross floor area of 1.35 million sq.ft., housing 2,800 units of retailers /
wholesalers. Phase 1 comprises 259 units for lease only, with sizes ranging from 290 to 582 sq.ft.
and complimented by 300 car park bays. The later phases will comprise 4 blocks of 9-storey
buildings with estimated net lettable of 180,000 sq.ft. and will be open for sale.
- Wisma Genting has changed hands from Genting Berhad to Genting Malaysia Berhad. The 25-storey building with 409,033 sq.ft. net lettable area was sold for RM212,709,548/- (or analysed @ RM520 psf).
- Malton Berhad plans to spend about RM700 million on upgrading part of the Pusat Bandar Damansara which is owned by Johor Corp.
- Kuwait Finance House (KFH) has called off deal for the purchase of 50% stake of Menara YNH. It has also pulled out of the deal to buy The Icon East Wing. However, Mah Sing has found another buyer, TS Law Realty Sdn. Bhd. The building with net lettable area of 278,182 sq.ft. is sold at RM226 million (or analysed @ RM812 psf). KFH later refuted report on the deal of The Icon and claims that there were no contractual agreement to purchase the building.
- The Apex Tower in Southgate, Sg Besi was sold to a taiwanese individual, Chen Ho-Yuan, for RM63,088,200/- (or analysed @ RM700 psf). The tower has a net lettable area of 90,126 sq.ft.
- Permodalan Nasional Berhad has expanded its basket of assets. It recently inked the deal to purchase Kenanga International Building for RM250 million (or analysed @ RM840 psf). The 22-storey building has a net lettable area of 367,522 sq.ft.
- The defunct UE3 shopping mall along Jalan Loke Yew will be redeveloped into Viva Home. Its white knight, Kha Seng Corp Sdn. Bhd, plans to develop it into a one-stop centre for home products which will eventually boast a net lettable area of 660,000 sq.ft.. It is expected to debut next year.
- UOA REIT has injected another RM14.8 million (or analysed @ RM620 psf) worth of office space in Wisma UOA II into the REIT. The total space acquired is about 23,864 sq.ft.
- Ireka Corp Bhd unveiled its latest commercial development, One Mont Kiara. The integrated development will encompass a 20-storey office tower, a 34-storey office suite block, a lifestyle mall and a block of serviced apartment.
- HELP International Corp is acquiring HELP Residence, its hostel in Damansara Heights for RM50 million (or analysed @ RM330 psf). The 21-storey building has a gross floor area of 151,954 sq.ft and a monthly rental income of RM343,933/-.
- The defunct Mint Hotel located along KL-Seremban Highway is planning for a RM6 million refurbishment. It is scheduled to reopen by first half of next year.
- Sheraton Overseas Management Corporation will be the new operator of The Andaman Langkawi.
- Abric Berhad's warehouse in Jalan Tandang was sold for RM20.8 million. It has a land area measuring at 108,626 sq.ft. and gross built-up area of 86,000 sq.ft.
- Hap Seng has secured a piece of development land adjacent to Menara Hap Seng. The land is located at the intersection of Jalan P. Ramlee and Jalan Tengah and measures about 50,067 sq.ft. Eastern & Oriental sold the land for RM103 million (or analysed @ RM2,057 psf).
- Ireka Bhd has purchased a one-acre land along Jalan Kia Peng, where Top Hat Restaurant used to sit on for RM87 million (or analysed @ RM2,000 psf).
- Magna Prima and Santari Sdn. Bhd. have inked the deal to transact a 5.5-acre land in Bukit Jalil for RM10.7 million (or analysed @ RM45 psf). The land will be developed for the relocation of the Lai Meng primary school and kindergarten.
- Bukit Jalil Devt Sdn. Bhd. (a subsidiary of Ho Hup) has also entered into a conditional sale and purchase agreement with Action Master Sdn. Bhd. for the disposal of freehold land in Bkt Jalil for RM7,641,731/- (or analysed @ RM53 psf).
- Strategic Development Sdn. Bhd. acquired 4.08 acre land in Taman Selaseh Gombak for RM13.5 million (or analysed @ RM76 psf).
- Equine Capital Bhd has disposed its 11.81 acre commercial land in Putra Permai which is currently leased to Aeon for RM28 million (or analysed @ RM54psf). The transaction is strictly on the land only as the building was built by Aeon. Aeon is currently paying RM1.5 million for the lease of the land.
- KPJ Healthcare plans to purchase land in Muar which is erected with an abandoned hospital for RM22 million cash.
- Hunza Properties bought 2 pieces of land in Bayan Baru, Penang for a total of RM82.09 million.
- Ho Hup obtained court injunction for sale of land in Bukit Jalil.
- The court has ordered Sri Aman Developments to provide temporary access to Paramount View Condominium along Jalan SS1/25.
- Malaysia Pacific Corporation Bhd has invited interest to partner in its RM4 billion Asia Pacific Trade and Expo City (APTEC) and Lakehill Resort City.
- CIMB sold 65 of its properties in Malaysia to EPF for RM302.5 million.
- Bitexco Financial Tower, the tallest building in Vietnam is scheduled to open for business in Oct 2010.
- Sunway Holdings will be partnering with Hoi Hup Realty Pte Ltd in Singapore to develop land along Jalan Senang, Singapore.
- Retailers remain pessimistic on outlook as consumers remain cautious on spending.
- On the optimistic front, Parkson plans to continue to expand in Malaysia.
- Gold price hit a new high at USD1,150 per ounce.
- The price for crude palm oil continues to climb for the 3rd consecutive month.
- General Motors continues to battle the recession with more job cuts. In the latest announcement, the car maker expects to retrench up to 10,000 jobs as part of its European restructuring plan.
- US Insurers estimates a loss of about US22.6 billion in commercial real estate investments by 2011 as rental continues to decline and vacancies increase.
- The debt laden Dubai World seeks creditor's help to delay repayment. Dubai World has accumulated USD80 billion worth of borrowings due to the global financial crisis.
- The Singaporean government is bracing for higher inflation of 2.5% to 3.5% next year.
- Hong Kong's Exchange & Clearing Ltd chairman Ronald Arculli foresees asset bubbles in Asia.
- Hong Kong government is taking action to tighten guidelines to enhance transparency due to notorious tactics by developer to market properties.
- According to World Bank, private investments in Malaysia fell to 12% of GDP as compared to a healthy 30% prior to the Asian crisis.
- Maxis Bhd returned to the local bourse. The transactions in Maxis shares on its maiden day were worth RM1.58 billion. The telco operator is the fourth largest company in Bursa Malaysia by market capitalisation.
-
Alam Nusantara
Developer: PKNS
Location: Setia Alam, Shah Alam
Development: 310 units of 2-storey link houses
Land Area: 1,400 sq.ft.
Price: RM335,000/-
-
Puncak Tropika
Developer: PKNS
Location: Section 9, Shah Alam
Development: 28 units of 3-storey semi-detached houses
Land Area: 3,200 sq.ft.
Built-up Area: 3,300 sq.ft.
Price: RM1,200,000/- to RM1,400,000/-
-
Ampersand@Kia Peng
Developer: IJM Land
Location: Jalan Kia Peng, Kuala Lumpur
Development: 71 units of luxury condominium units
Built-up Area: 2,613 - 5,812 sq.ft.
Price: Starting from RM1,200 psf
-
Duta Villa@Kenny Heights
Developer: KH Land Sdn. Bhd.
Location: Sri Hartamas, Kuala Lumpur
Development: 49 units of 4-storey town villas
Built-up Area: 5,229 to 6,664 sq.ft.
Price: Starting from RM2.481 million to RM3.3 million
-
Kenny Heights Sanctuary
Developer: KH Land Sdn. Bhd.
Location: Sri Hartamas, Kuala Lumpur
Development: 38-storey condominium tower
Built-up Area: 1,859 - 3,748 sq.ft.
Price: Starting from RM780 psf
-
Brio Tower @ Setia Walk
Developer: SP Setia Berhad
Location: Puchong
Development: 254 units of serviced apartments
Built-up Area: 845 - 2,758 sq.ft.
Price: Starting from RM291,800/- to RM1,020,000/-
-
Phase 8B, Setia Eco Park
Developer: SP Setia Berhad
Location: Shah Alam
Development: 28 units of semi-detached house
Land Area: 3,900 sq.ft.
Built-up Area: 2,835 sq.ft.
Price: Starting from RM1,200,000/-
-
Phase 6C, Setia Eco Spa Villas
Developer: SP Setia Berhad
Location: Shah Alam
Development: 2 to 3 storey villas
Land Area: 8,000 sq.ft.
Built-up Area: 5,338 - 7,331 sq.ft.
Price: Starting from RM4,600,000/-
-
The View, Serai Saujana
Developer: Serai Saujana Development Sdn. Bhd.
Location: Saujana Resort
Development: 169 units of condominium
Built-up Area: 1,800 to 2,900 sq.ft.
Price: RM550 to RM660 psf
-
The Villa, Serai Saujana
Developer: Serai Saujana Development Sdn. Bhd.
Location: Saujana Resort
Development: 42 units of 3-storey semi-detached houses
Land Area: 3,900 to 4,600 sq.ft.
Built-up Area: 5,200 to 5,800 sq.ft.
Price: RM4,200,000/-
-
Nadayu@Melawati
Developer: Mutiara Goodyear Development Bhd
Location: Taman Melawati, Ulu Kelang
Development: 142 units of high-end bungalows
Land Area: 8,000 to 9,000 sq.ft.
Built-up Area: 7,000 sq.ft.
Price: Starting from RM5,000,000/- to RM6,000,000/-
- Metrojaya Berhad has closed its retail outlet in Berjaya Times Square after its tenancy expired.
- The RM2 billion Four Seasons Hotel and condominium tower project has been postponed.
- UOA REIT recently acquired RM14.5 million worth of office space within UOA II.
- MTD Capital Bhd has inked the deal with Haluan Gigah Sdn. Bhd. for the transaction of its MTD Building, Bangunan Shell Malaysia and a parcel of land in Bandar Selayang for a total consideration of RM175 million. The MTD building and land in Bandar Selayang were sold for RM70 million but the building will be leased back to MTD Properties for 10 years at a monthly rental of RM4 million. Bangunan Shell (net lettable area of 381,419 sq.ft.) was sold for RM105 million (or analysed @ RM275 psf).
- Sunway Construction Sdn. Bhd. has been awarded a RM147 million contract from Putrajaya Holdings. The commercial project will be sited in Precinct 1 and will comprise a 16-storey 3-star hotel and an 11-storey tower.
- Carrefour hypermarket will be the new anchor for The Sphere in Bangsar South.
- Hua Yang has recently launched One South, sited along the Kuala Lumpur-Seremban Highway. The first phase will be launched in 1Q10 and comprises 73 retail units, with pricing ranging from RM550 to RM750 psf and 310 office units at RM350 psf.
- The second phase of Symphony Heights was launched recently. The 219 units will have sizes ranging from 1,144 to 1,246 sq.ft. with prices starting from RM245,000/-.
- Lot 10 Shopping Centre and Starhill Gallery will change hands between Starhill REIT and Starhill Global Real Estate Investment Trust (SG REIT). The two retail assets are sold for RM401 million and RM629 million respectively.
- Plenitude Bhd is gearing forward and expects 6 more launches with a combined GDV of RM280 million. The 6 projects are located in Johor, Puchong and Kedah.
- The Star's former headquarters in Section 13, Petaling is being planned for redevelopment. The Star is keen to enter a joint venture with a developer to develop the 2.4 hectare site with two 15-storey office blocks and two 20-storey office blocks with a GDV of RM370 million. The Star is expected to pocket a 30% share of the GDV. The site is currently leased to UTAR for its campus.
- Glomac and Lembaga Tabung Haji (LTH) are in talks to transact Tower D of Glomac Damansara for the consideration of RM170.73 million. The building, when completed, will have a net lettable area of 254,000 sq.ft.
- Naza TTDI has been awarded a RM15 billion project to develop a 65 acre plot of land along Jalan Duta. The entire development will comprise the Martrade Centre, residences, offices, a shopping mall and a hotel and will span over a period of 10 years.
- Mah Sing Group has acquired the former Panasonic industrial premises in Petaling Jaya. The 19.60 acres land was purchased for RM89 million (or analysed @ RM104 psf) and is being planned for mixed development.
- Ultimate Print Sdn. Bhd. recently acquired a RM12 million industrial premises from OCI Berhad. The premises is erected on a 2.87 acre land with 5-storey office building, 4 and 5-storey warehouses, single-storey factory and warehouse and refuse chamber building.
- Axis-REIT has injected another 3 properties with a total worth of about RM96 million into the trust. Axis purchased 2 factories in Klang at RM71.75 million and another in Seberang Perai at RM24.25 million and has entered into a Sale and Lease Back Agreement with IDA Logistics Services (M) Sdn. Bhd. for 15 years.
- Long time developer Paramount Corporation Berhad has purchased a 21.7 acre freehold land in Shah Alam for RM62,386,632/- (or analysed @ RM66 psf) from The Titular Superior of the Brothers of Saint Gabriel.
- Elite Forward Sdn. Bhd., the subsidiary of Land & General Berhad, will joint venture with Forward Splendour Sdn. Bhd. to develop a 2.6 acre commercial development in Ampang.
- Melati Ehsan Holdings Berhad has acquired 4 pieces of development land measuring 27.12 acres from TPPT Sdn. Bhd. The land was transacted at RM15.5 million (or analysed @ RM13 psf).
- Elite Forward Sdn. Bhd., the subsidiary of Land & General Berhad, will joint venture with Forward Splendour Sdn. Bhd. to develop a 2.6 acre commercial development in Ampang.
- Melati Ehsan Holdings Berhad has acquired 4 pieces of development land measuring 27.12 acres from TPPT Sdn. Bhd. The land was transacted at RM15.5 million (or analysed @ RM13 psf).
- Puncakdana Development Sdn. Bhd. and Motif Bakti Sdn. Bhd. sold the 7.61 acre leasehold in Kayu Ara to Glomac Kristal Sdn. Bhd. and FDM Development Sdn. Bhd. for RM31.16 million (or analysed @ RM94 psf).
- Maju Holdings has disposed its 1,357.64 sq.m. land along Jalan Mayang to Ipmuda Bhd. The land, which is sited within close proximity to the Petronas twin towers, was sold for RM15.5 million (or analysed @ RM1,061 psf).
- Nusajaya Consolidated Sdn. Bhd. acquired a 2.20 acre land in Pulai for RM16.32 million (or analysed @ RM170 psf).
- The declassified investigation report on Bukit Antarabangsa landslide tragedy is now available to public.
- The Penang state government has increased its rates for change of land use and property development in an attempt to increase revenue. The new charge for enhancement of land value is now 50% from 25% for island and 12% for mainland. Development charges has increased 3 folds from RM5 to RM15 psf for housing and RM7 to RM21 psf for commercial.
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Creditors took possession of Donald Trump's bankrupt casino operator, Trump Entertainment Resort Inc. The company has a debt of USD1.74 billion.
- IMF forecasts US economic growth at 3.1% and China and India at 9% and 6.4% respectively.
- Housing market in the USA shows signs of recovery. Sales started to pick up when many took advantage of government programmes such as credits for first time buyers and lower borrowing costs.
- Roubini foresees stock and commodity markets may drop in coming months as they have risen too soon and too fast.
- Tokyo's number of condominium units for sale surged by 26% compared to the previous year.
- Manufacturing sector in UK continued to contract as unemployment rate continues for the 17th straight month.
- Alistair Darling, Chancellor of the Exchequer proposes banks to end automatic bonuses.
- Julius Baer is paying 520 million Swiss francs (RM1.7 billion) to take over ING's private banking assets.
- Singapore's property market continued on an uptrend when prices for private homes registered a surge of 15.9% in 3Q09.
- Hong Kong's government has taken measures to avert a potential property bubble. The government will increase land supply and monitor prices closely to track market changes. Luxury home sales tripled last month and prices climbed as much as 28%.
- China's economic recovery is on track and will easily reach 8% this year.
- Demand for steel may rise by 9.2% by next year.
- RHB Capital will be buying 80% control stake of Indonesia bank, PT Bank Mestika Dharma, for USD329 million. The bank may venture into Vietnam as it is seeking for banking license
- Maybank opened its 6th branch in Cambodia.
- 1Malaysia Development Bhd and PetroSaudi International Limited of Saudi Arabia have set up a joint-venture company with total funds of US$2.5 billion for investments in strategic high-impact projects in Malaysia and the region.
- CIMB Group plans to dispose its Thailand office block in Sathorn, Bangkok for 1 billion Baht (RM109.6 million)
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Bangsar Enclave
Developer : Mulpha International Bhd
Location : Bangsar
Development : 7 units of 3-storey bungalows
Built-up Area : 7,525 to 9,540 sq.ft.
Price : Starting from RM10 million
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Bukit Tunku
Developer : Mulpha Internation Bhd
Location : Jln Langgak Tunku, Bukit Tunku
Development : 8 units of 3-storey bungalows
Land area : 15,000 sq.ft.
Built-up : 8,000 to 15,000 sq.ft.
Price : Starting from RM15 million
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Bandar Kinrara
Developer : I&P Group
Location : Bandar Kinrara
Development : Sapphire
104 units of 2-storey terraced houses
Land area : 1,650 sq.ft.
Built-up area : 2,354 sq.ft.
Price : Starting from RM520,888/- Oasis-24 units of 2.5-storey semi-detached houses
Land area : 4,500 sq.ft.
Built-up area : 3,390 sq.ft.
Price : Starting from RM1,588,888/-
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Bayu Kemensah
Developer : Delta Elegance Sdn. Bhd.
Location : Kemensah Heights
Development : 33 units of 3-storey bungalows
Land area : 4,550 to 6,687 sq.ft.
Built-up area : 5,432 to 5,844 sq.ft.
Price : Starting from RM2.481 million to RM3.3 million
- Gadang Engineering (M) Sdn. Bhd. recently acquired 7 vacant plots of bungalow land sited within Bluwater project, Seri Kembangan. The acquisition price was RM11,220,600/- (or analysed @ RM142.39 psf) for a total land are of 78,804 sq.ft.
- A total 178 units out of 340 units of Block B (enbloc) of Armanee Terrace II Condominium has been sold to for RM180 million.
- Aseana Properties Ltd is looking to purchase the remaining stakes of SENI Mont' Kiara condominium for RM11.7 million). SENI has a total of 605 units of luxury condominium and is expected to be completed by end 2010.
- MK28 is expected to be making its preview by December.
- L&G continues to develop
- Rivercity, Bt 3, Jalan Ipoh will be given a RM7 million boost. Low Yat Group, the developer, expects to increase to increase rental income to RM55 million after the makeover.
- Impiana Casuarina Hotel Ipoh is being sold to Impiana Hotel Ipoh Sdn. Bhd. for RM44 million.
- UMLand has entered into a joint-venture partnership with Tradewinds Johor Sdn. Bhd. to develop a RM718 million mixed development scheme in Pulai, Johor.
- Menara Mulpha, the new 29-storey office tower is set to be completed by 2013. The Grade A office tower is situated along Jalan Sultan Ismail and is expected to have a net floor area of about 270,000 sq.ft.
- 8trium, Bandar Sri Damansara, which was launched in July this year, comprises 2 blocks of office tower and a retail podium. It has received favourable response, with Tower 2 about 90% sold whilst sale in Tower 1 is at 30%.
- CIMB-Maple Tree has completed the acquisition of Patimas Computer Bhd's headquarters in Bukit Jalil for RM60 million vide a sale and leaseback agreement. Patimas will continue to lease for another 12 years within the Grade A office building which boasts a gross floor area or 138,000 sq.ft.
- Amanah Harta Tanah PNB2 has put up the following assets for sale:-
Bangunan TAR - 9.5-storey office building with NLA at 41,434 sq.ft.
Reserve price @ RM11.8 million
Jln Medan Tuanku - 3 adjoining units of 5-storey building with NLA at 25,584 sq.ft.
Reserve price @ RM8.46 million
Plaza Mayban Trust - 7-storey commercial building with NLA at 32,952
Reserve price @ RM10.8 million.
- Putrajaya Holdings will be developing the commercial land sited next to Alamanda shopping complex into a 'big box retail area' for home furnishing and electrical goods. The developer will also be building a 3-star hotel and a block of office tower in Precinct 1, Putrajaya.
- Part of the historical Pudu Jail has been demolished to make way for new development. The redevelopment will begin next year.
- The acquisition of Axis Steel Centre has been completed on October 20, 2009. The factory, with a built up area of 366,839 sq.ft. erected on a 16.42 acre leasehold land and was sold for RM65.84 million.
- Crossborder Team (M) Sdn. Bhd., subsidiary of Magna Prima Bhd, acquired a piece of 6 acre leasehold land in Selayang at RM16.5 million (or analysed @ RM63 psf).
- Mah Sing announced its recent acquisition of a prime plot in Petaling Jaya. The land is located at the crossroads of Lebuhraya Damansara-Puchong (LDP) and the Federal Highway and measures about 19.6 acres. The land was sold at RM89 million (or analysed @ RM104 psf). The company also purchased a piece of 26 acres land in Selayang for RM41.65 million ( or analysed @ RM37 psf).
- Glomac recently completed its acquisition of 2 parcels of land in Ijok totalling 27.8 acres (1,210,968 sq.ft.) for RM9 million (or analysed @ RM7.43 psf). The land is located within Glomac's existing project known as Saujana Utama and will be named as Bukit Saujana.
- A South Korean investment firm has offered to purchase the HSBC tower in Canary Wharf at 800m pounds.
- Iskandar Malaysia has opened for bids for RM2 billion worth of construction jobs.
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Brief sector highlights in the Budget 2010 :
- The government has reintroduced the RPGT. Effective January 2010, the RPGT will be fixed at 5% for disposals of all properties.
- The government has launched an EPF scheme that allows contributors to utilise current and future savings in Account 2 which will take effect on January 2010.
- In an effort to go green, the government has introduced tax exemption for developers who obtained Green Building Index (GBI) certification between Oct 24, 2009 to Dec 31, 2014. The exemption will be equivalent to the additional capital expenditure in obtaining the certificate. Purchasers of buildings issued with GBI certificates will also enjoy stamp duty exemption.
- SP Setia will be kicking off another project in Vietnam. This time, the mixed development is estimated to cost about USD250 million. The developer has also ventured into a joint venture with a local developer in Hangzhao, China.
- 1Medini will be the first residential development in Iskandar Islamic finance hub in Johor. The project will be undertaken by Medini Land Sdn. Bhd. and WCT Bhd.
- At least 6 new MSC cybercentres are expected within this year and next three years.
- The issue of Damansara 21 will be presented to the cabinet for a decision. The project has been temporarily halted due to its development risk on land slope.
- At least 1,133 approvals were obtained for applications of MM2H to date.
- PNB has plans to develop the forner Tunku Abdul Razak Park. Currently, PNB is in discussions to develop the land around Stadium Merdeka and Stadium Negara into a mixed development project.
- Mas Kiara Residences, the former abandoned bumiputra project located in Tmn Tun Dr Ismail will be revived soon. The white knight is Intan Permata Properties Sdn. Bhd.
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Harvard University lost a US$497.6 million bet to investment banks that interest rates will rise.
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The most expensive luxury condominium in the world is located in Kowloon peninsula, Hong Kong. The unit was put up for sale at RM32,682 per sq.ft.
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Bill Gate's wealth declined by US$7 billion due to the current economic crisis.
- US jobless rates continue to rise as employers retrench another 200,000 workers.
- Japanese businesses cuts spending as global recession persists. However, the country's GDP grew 3.7% by 2Q2009.
- China has plans to tighten monetary policy as it expects inflation to rise to 4%
- India's Bank of Baroda has plans to set up in Malaysia.
- Luxury hotels are showing signs of distress and are in risk in defaulting loan as occupancy rates remain low. A foreclosure proceeding have begun on the Four Seasons of San Francisco.
- The Singaporean government is taking action to curb property speculation by releasing more land for development. The 5/95 system will no longer be effective and the government plans to increase the supply of land for development.
- Malaysia's GDP forecast is likely to be reviewed upwards. The country's GDP performed better in the 2Q2009 whilst the inflation rate showed slight improvement.
- The ringgit declined as oil prices and Asian stocks tumbled.
- Billionare Bhupendra Kumar Modi has plans to invest in distressed assets including island resorts on Batam and Bintan.
- Morgan Stanley forecasts crude oil price to rise to US$105 per barrel by 2012.
- The Kuala Lumpur-Karak Highway and the East Coast Expressway will be toll free by September 18th and 24th respectively.
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Templer Hills
Developer: Rentak Arena Group
Location: Jalan Ipoh-Rawang, close proximity to Templer's Park
Development: 45 units of 2?-storey bungalows
Built-up Area: 3,400 sq.ft
Price: Starting from RM1.5 million
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TTDI Alam Impian
Developer: Naza TTDI
Location: Shah Alam
Development: 248 units of double-storey terraced houses
Built-up Area: 1,400 sq.ft.
Price: Starting from RM330,000/-
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TTDI Kajang
Developer: Naza TTDI
Location: Kajang
Development: Launching Phase I 58 units of double-storey terraced houses
Built-up Area: N/A
Price: Starting from RM300,000/-
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Verticas Residensi
Developer: DNP Holdings Bhd
Location: Bukit Ceylon
Development: 423 units of condominiums
Built-up Area: 1,427 sq.ft.
Price: Starting from RM840 psf
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U-Thant
Developer: DNP Holdings Bhd
Location: Jalan U-Thant
Development: 25 units of luxurious condominiums
Built-up Area: 3,300 to 3,500 sq.ft.
Price: Starting from RM1,060 psf
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Vasana25@Seputeh
Developer: Berjaya Land Bhd
Location: Taman Seputeh
Development: Type 1 - 3 units of bungalows
Land Area: 6,316 to 11,524 sq.ft.
Built-up Area: 5,743 to 7,665 sq.ft.
Price: Starting from RM8 million
Development: Type 2 - 22 units of link villas
Land Area: 4,971 / 12,994 sq.ft.
Built-up Area: 5,947 / 7,616 sq.ft.
Price: Starting from RM5.5 million
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Town Villas
Developer: LBS Bina Group
Location: Tasik Puchong
Development: 328 units of townhouses
Phase 1 - 104 units
Phase 2 - 96 units
Phase 3 - 128 units
Built-up Area: 996 / 1,075 sq.ft.
Price: From RM180 to RM250 psf
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Teratai Villas
Developer: Amcorp Prima Realty Sdn. Bhd.
Location: Kayangan Heights, Shah Alam
Development: 19 units of 2 to 3-storey bungalows
Built-up Area: From 7,890 to 21,746 sq.ft.
Price: Starting from RM1.14 million
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One Lagenda
Developer: Mah Sing Group Bhd
Location: 9th Mile Jalan Cheras
Development: 26 units of bungalows
Land Area: From 8,000 sq.ft.
Built-up Area: 5,392 to 6,519 sq.ft.
Price: Starting from RM2.8 to RM3.5 million
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Hijauan Residences, Ph 2
Developer: Mah Sing Group Bhd
Location: 9th Mile Jalan Cheras
Development: 30 units of 2 to 3-storey bungalows
Land Area: 3,600 sq.ft.
Built-up Area: 3,400 sq.ft.
Price: Starting from RM2.8 to RM3.5 million
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Kiara View (Malay Reserve)
Developer: Seni Nusantara Sdn. Bhd.
Location: Mont' Kiara
Development: Phase 1 2 - 96 units of 2-storey semi-detached houses and 1 unit of 3-storey semi-detached house
Land Area: 4,000 sq.ft.
Built-up Area: N/A
Price: Starting from RM1.4 to RM1.8 million
Built-up Area: N/A
Price: Starting from RM2.2 to RM2.3 million
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Taynton Hill
Developer: FAM Development Sdn. Bhd.
Location: Taman Taynton
Development: 3-storey bungalows
lAND Area: 5,800 to 8,600 sq.ft.
Price: Starting from RM3.8 to RM6.5 million
- Lembaga Tabung Haji has plans to construct a RM80 to RM100 million hotel and complex in Kuala Terengganu. The development is targeted for the pilgrims. Lembaga Tabung Haji also plans to develop a hotel, complex and conference centre near the KLIA in Sepang worth about RM100 million for the same purpose.
- Glomac has 3 more new developments under its belt. These projects, with a combined GDV of about RM550 million, will be in Cyberjaya, Mutiara Damansara and Kelana Jaya.
- Permodalan Nasional Berhad (PNB) has plans to develop a parcel of land measuring 18 acres near Merdeka Stadium and Stadium Negara into a mixed development.
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Empire Subang comprises the following :-
| Empire Hotel |
comprising 198 rooms (at RM175,000/- per room) |
| Empire Tower |
2 blocks of 12-storey buildings with 7 office suites on each floor. Sizes ranging from 1,227 to 3,561 sq.ft. |
| Empire SoHo |
210 SoHo units with size at 542 sq.ft. |
| Empire Gallery |
commercial building with a gross built-up of 600,000 sq.ft. |
- Daiman Properties Sdn. Bhd. and Courts Mammoth Sdn. Bhd. entered into a sale and leaseback agreement on the purchase of Courts Mammoth building sited along Jalan Genting Klang. The building, sited on 30,183 sq.ft. land, was sold at RM14.5 million and will be leased back to Court Mammoth for a monthly rental of RM128,370/-.
- The Singaporean hotel brand, Rendezvous Hotels & Resort International, will be part of the Taragon Puteri KL development situated along Jalan Changkat Thambi Dollah.
- The Halal Industry Development Corp (HDC) will be expanding further as investors are looking to invest RM700 million to build factories and warehouses at designated halal parks. The country currently has 5 halal parks, 8 in development stage and 5 in planning stage.
- Ikea will be relocating their distribution network to China. The Swedish company recently sold its 560,000 sq.ft. warehouse which sits on an 8.51 hectare land in Shah Alam for RM90 million to Pelaburan Hartanah Bumiputera Bhd.
- Spritzer Bhd acquired an industrial premise in Shah Alam Premier Industrial Park with land measuring about 31,386 sq.m. (about 337,836 sq.ft.) for RM32,500,000/-.
- Konsortium Bus Expres Semenanjung Malaysia Sdn. Bhd. (KBES) is looking to buy 2 parcels of land in Seberang Prai for RM1.6 million.
- Magna Prima Bhd has recently purchased 2 pieces of land in Petaling Garden with a joint land area of 6.96 acres for RM48.48 million (or analysed @ RM160 psf). The developer also purchased a piece development land in Section 5, Petaling Jaya via its subsidiary company, 33 Sentral Park Sdn. Bhd. The land measures at 2.81 acres for RM48,479,360/- (or analysed @ RM397 psf).
- Tanah Emas Corp Bhd have increased its plantation area with its recent purchase of 6,070 hectares of oil palm land in Kemaman, Terengganu. The purchase was satisfied with RM5,500,000/- and 18,000,000 new Tanamas shares.
- Mitrajaya purchased a piece of 9.30 acre industrial land in Jalan Tandang, Petaling Jaya for RM28 million (or analysed @ RM69.12 psf).
- Mah Sing Group Bhd purchased 2 parcels of industrial land in Bukit Jelutong, Shah Alam with a total area of 52,245 metres for a total of RM21.25 million (or analysed @ RM37.79 psf).
- Hua Yang Bhd plans for a RM350 million township in Johor
- Tune Hotels has ventured into India. The budget hotel has entered into a partnership with India's Apodis Hospitality and targets to open 70 Tune Hotels within 7 years.
- Malaysian Resources Corp Bhd (MRCB) and Employees Provident Fund (EPF) to develop landbanks belonging to federal government in Jalan Cochrane, Jalan Ampang and Sungai Buloh.
- Berjaya Hotels & Resort are planning to dispose some of its foreign assets in Seychelles, Sri Lanka, Singapore and London to help finance its expansion in Japan, South Korea, Vietnam, Maldives and Malaysia. The combined worth of the assets are estimated to be about RM900 million.
- Syarikat Prasarana Negara Bhd recently announced its plans to extend the existing LRT lines. The project is estimated complete by 2012 and cost between RM6 to RM7 billion.
- Mines Excellence Golf Resort Bhd has positioned itself to make a mark with its latest venture, Mines Golf City. The RM3 billion development will consist three 5-star hotels, a 63-hole golf course, residential developments, an equestrian and driving academy, schools, sport facilities, food outlets and recreational parks.
- At least 75 abandoned housing schemes has been revived by Syarikat Perumahan Negara Bhd (SPNB).
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Nomura, the Japanese investment bank, will be enjoying a 6-year rent free period after signing a 20-year lease on its London new headquarters owned by Oxford Properties Group. It is believed to be one of the record breaking deal of the in century.
- Europe took the title as the world's richest region last year as measured by assets, replacing North America. US still has the highest number of millionaires in the world, with total number of over 4 million.
- Nouriel Roubini, who predicted the current global financial mess, sees a big risk of a double-dip recession.
- Fannie Mae reported a quarterly loss of USD14.8 billion.
- Smaller US banks may need at least USD12 to 14 billion to cope with troubled loans.
- More banks collapsed in the US, pushing the total number to 77 to date.
- The housing and manufacturing sectors in the US started to show some signs of improvements.
- UK's business confidence improved for the first time in 2 years.
- Come November, Bulgaria will join the EU's currency peg. The move is aimed to bring the country closer to EU's region and claim protection of European Central Bank.
- Analysts predict commodity prices may continue to rise in 2010 as global recession abates.
- MCB Bank, Pakistan's largest bank, is looking to acquire Royal Bank of Scotland in Pakistan for RM90 million.
- Australian bank ANZ in talks to buy over Royal Bank of Scotland's Asian assets worth A$1.1 billion (RM3.2 billion). The countries include Hong Kong, the Phillipines, Singapore, Indonesia, Vietnam and Taiwan.
- Hong Kong house prices continue to soar despite the economic slump.
- China's property market surprised many with an upswing trend as sales saw an increase in value by 60% for the first 7 months.
- The interest rates in Japan remained unchanged at 0.1% to help economic recovery.
- Pakistan cuts interest rates for the 2nd time this year.
- Singapore outperforms forecast at with GDP increased by 20.4% for 1Q2009.
- Asean to be complete Free Trade Area by Jan 2010.
- The government has allocated RM8 billion to RM12 billion to develop rural areas in terms of providing adequate infrastructure, power supply and 50,000 homes for the poor.
- The government's RM78.08 billion mega projects are to be implemented sooner to help stimulate the country's economy.
- Maybank opened its 5th branch in Cambodia.
- Hong Leong plans to increase its presence in Southeast Asia. The bank recently purchased a 20% stake in Chengdu City Commercial Bank Co Ltd and opened its first branch in Ho Chin Minh, Vietnam.
- Malaysian banks are geared to implement Basel II by 2010.
- The government will also be providing some 45,000 homes to those who are currently renting government low-cost houses.
- Foreign listing on Bursa will be given a fast-track approval.
- The USD7 billion oil pipeline has been realigned together several other changes. The pipeline was originally planned to start from Yan, Kedah and Bachok, Kelantan but now has been changed to Yan and Tumpat, Kelantan.
- Analysts predict that unemployment rate in Malaysia may rise to 4.5% by year end.
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Tropicana Grande
Developer: Dijaya Corp Bhd
Location: Tropicana Gold and Country Resort
Development: 300 units of condominium units
Built-up Area: N/A
Price: Starting from RM600 psf
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Grand Villa, Tropicana Indah Resort
Developer: Dijaya Corp Bhd
Location: Tropicana Gold and Country Resort
Development: 12 units of bungalow villas
Land Area: 8,000 - 9,000 sq.ft.
Price: Starting from RM4.5 - 5.8 million
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Pool Villa, Tropicana Indah Resort
Developer: Dijaya Corp Bhd
Location: Tropicana Gold and Country Resort
Development: 54 units of semi-detached houses
Land Area: 5,812 - 7,945 sq.ft.
Price: Starting from RM2.8 million
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The Rafflesia
Developer: Saujana Triangle Sdn. Bhd.
Location: Damansara Perdana
Development: 116 units of 3-storey semi-detached houses
Land Area: 5,812 - 7,945 sq.ft
Price: Starting from RM1.4 million
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Temasya Suria
Developer: Temasya Development Co. Bhd
Location: Glenmarie, Shah Alam
Development: 133 units of 2.5-storey superlink houses
Land Area: 2,408 sq.ft.
Price: Starting from RM750,000/-
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Sutera Damansara
Developer: OSK Property Holdings Bhd
Location: Damansara Damai
Development: Phase I -349 units of 2 and 3-storey terraced houses
Land Area: 1,650 sq.ft.
Price: Starting from RM552,000/-
Phase II - 32 units of 2-storey semi-detached houses and 30 units of shopoffices
Land Area: 1,650 sq. ft.
Price: Starting from RM552,000/-
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Bandar Kinrara
Developer: Perumahan Kinrara Bhd
Location: Bandar Kinrara
Development: Phase B39/40 - 80 units of 2-storey terraced houses
Land Area: 1,650 sq.ft.
Price: From RM462,888/- to RM693,888/-,
Phase 7A24 - 2-storey semi-detached houses
Land Area: 4,500 sq.ft.
Price: Starting from RM1.8 million,
Phase 7A13 - 103 units of 2-storey terraced houses
Land Area: 1,650 sq. ft.
Price: Starting from RM520,000/-,
Phase 5A3 - 8 units of 2-storey semi-detached houses
Land Area: N/A
Price: RM1.7 million
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Five Stones
Developer: SDB Group
Location: SS2, Petaling Jaya
Development: Phase I - 3 blocks condominium units (Blocks A to C)
Built-up Area: 1,700 to 2,400 sq.ft.
Price: Starting from RM800,000/- for standard units and RM1.6 million for penthouses,
Phase II - (to be launched in 2010),
Block D - 50 units of condominium within 25-storey tower,
Block E - 143 units of condominium within 36-storey tower
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Plaza Damas 3
Developer: Mayland Group
Location: Sri Hartamas, Kuala Lumpur
Development: 415 units of fully furnished serviced apartment units known as Carlton@Sri Hartamas and Chelsea@Sri Hartamas
Land Area: 500 - 955 sq.ft.
Price: RM820 psf
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C180
Developer: Mitraland Properties Sdn. Bhd.
Location: Cheras Selatan
Development: The Gateway - 4-storey building with two retail floors and two office levels,
The Pulse - 3-storey retail block,
The Cnetrestage - A 60,000 sq. ft. 2-storey entertainment building,
The Nest - Business hotel and serviced apartment,
The Latitude - Corporate office,
Last phase - 6-storey showroom / corporate office
- Kota Emerald township is expected to continue to develop for the next 8 years with properties worth RM1.7 billion to be launched.
- Penang will have its most expensive development with the RM1.1 billion Penang International City by Ideal Proerty Development Sdn. Bhd., located in Bayan Lepas.
- TH Properties will jointly develop two luxury residential projects worth RM1 billion in Bandar Enstek, Nilai with developers from India.
- About 178 units of condominiums within Block B, Armanee Terrace II has been sold for a total of RM180 million.
- Another commercial landmark in Kuala Lumpur that will be getting a facelift is Menara TA One. The corporate headquarters of TA Enterprise Bhd (TAE) will be given a RM20 million make over.
- TAE targets to purchase at least one hotel per year for the next three years and to build 2 hotels in Kuala Lumpur. The group currently owns The Westin Melbourne in Australia, Coast Whistler in Canada and Radisson Plaza in Sydney. Some of the projects due to be launched soon are the mixed development project with a GDV of RM3 billion in Sri Damansara, a RM110 million boutique residential development in Jalan U-Thant and RM300 million condominium development in Dutamas. Other projects that are slated for the next couple of years are the mixed development project in Bukit Bintang with GDV estimated at RM1.3 billion, a RM1.2 billion project sited opposite the Kuala Lumpur Convention Centre and the remaining phase of Sri Damansara.
- Malton's 2.6 acre commercial project sited along Jalan Utara will be known as the V-Square. The development components include 2 corporate towers, a corporate business suite block and 2 blocks of corporate offices.
- Etika Cekap Sdn. Bhd. to build another 5-star hotel next to its existing G Hotel in Gurney Drive for RM100 million.
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KL Sentral continues with its expansion with Lot G Integrated Development. The RM2.14 billion project comprises a 7-storey mall (eventually known as Nu Sentral), boutique hotel and 3 office towers. MRCB has teamed up with Pelaburan Hartanah Bhd (PHB) for part of the initiative to develop a retail mall and an office tower with GDV worth RM1.4 billion.
(Source : MRCB website)
- Ekson Corp Bhd will unveil its RM1 billion maiden project known as The Atmosphere in Seri Kembangan. The Atmosphere is a lifestyle commercial development which comprises 166 units of shopoffices, designer SOHO suites, boulevard shops and retail outlets.
- The Corporate block of Southgate has been sold to Permodalan Felda Bhd for RM226 million.
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An update on Dijaya's Tropicana Indah development :-
Tropicana Avenue
Scheduled to be launched in mid-2010. The development components comprises retail podium and office space with a total net lettable area of 561,000 sq.ft.
Tropicana Office Towers
RM250 million twin towers with total net lettable area of 400,000 sq.ft.
Tropicana Gardens
Retail units and service apartments on a 6.8 hectare land sited next to Kota Damansara
- The Putra Place, which was being auctioned for the 2nd time, failed to attract a buyer.
- Setia City Mall has secured 3 anchor tenants. The mall is expected to welcome visitors by 2011/2012. The first phase of the mall will have a gross built-up area of 700,000 sq.ft.
- One of the corporate tower in Glomac Damansara has been sold for RM200 million. Meanwhile, Block B of Kelana Business Centre is up for sale at RM30 million.
- Tanjung Bungah Beach Hotel in Penang will be undergoing a RM2 billion rebranding exercise under its new management, The Nomad Group Bhd. The group is also in talks to acquire an 80-room serviced apartment in Bangkok and eyeing for more properties in Thailand and Singapore.
- Grand Dorsett Labuan Hotel (previously Sheraton Hotel Labuan) will be given a new look. The revamping exercise is estimated to cost about RM15 million.
- Kota Damansara will see another retail centre coming up by December 2009. The RM141 million retail centre is being developed by Sunway Damansara Sdn. Bhd. and will be known as Sunway Giza. The development will comprise 48 units of shopoffices and a 3-storey shopping mall.
- Hartamas Shopping Centre will continue to expand with its addition of a new wing that will add another 300,000 sq.ft. of retail space.
- Kajang Walk, a joint-venture commercial development between Metro Kajang and PKNS will take place on a 2.4 hectare leasehold land in Kajang city centre. The development comprises a 3-star hotel, retail mall and offices.
- The Centrio, which was initially launched in 2006, has been relaunched. The remaining components for sale are 40 SOHO unit priced at RM550 psf, 46 offices made up of single level units and garden office duplexes with dual frontages at RM450 to RM550 psf.
- Rendezvous Kuala Lumpur @ Taragon KL is targeted to complete by April 2010.
- Sime Darby Bhd to purchase Ramunia's fabrication yard in Teluk Ramunia, Johor for RM560 million cash.
- The Selangor Science Park 2 (SSP2) has attracted an RM3.8 billion worth of investments. The investors, Q-Cell from Germany, will be investing RM3 billion in 100 acres of land whilst Andaman Group plans to build a RM300 million SEGI College campus. Serba Sentosa Sdn. Bhd., a subsidiary of Metro Kajang Holdings Bhd, will undertake to develop a mixed development project in SSP2.
- Mah Sing acquired 46.7 hectares freehold land in Cyberjaya for the consideration of RM130.5 million (or analysed @ RM25.96 psf).
- Equine Capital recently purchased a 15.89 acre leasehold commercial land in Mukim and District of Petaling for RM47.4 million (or analysed @ RM68.50 psf).
- Iskandar Malaysia is looking to have three theme parks, including Legoland Park, the first in Asia.
- Sime Darby plans to redevelop park at Carey Island for RM30 million.
- The RM225 million Besut campus development University Darul Iman has been awarded to Ahmad Zaki Resources Bhd (AZRB).
- The missing link which connects Jalan Kinrara Seksyen 3 and Taman Sri Sentosa will finally commence, after having halted for 10 years.
- The current 86-year old funicular train system to Penang Hill will be replaced with a new RM60 million system.
- Development on slopes between 15 to 35 degrees is prohibited except for infrastructures. Currently, there are 236 projects sited on land between 25 to 35 degrees that are frozen following the Bukit Antarabangsa incident.
- At least 500 owners have yet to receive their land titles in Taman Daya Kepong.
- US jobless rate hits 9.5%, highest since 1983. Jobless benefit claims also rose.
- US recession is believed to have eased into the 2nd quarter with GDP contracting by 1%.
- UK economist apologises to the Queen for failing to predict the credit crunch
- European retail sales continues to slide for the 14th month as household spending contracts.
- Japan's jobless rate climbs to 6 year high. Unemployment rate advanced to 5.4% and is expected to rise to 5.8% as companies continue to cut costs.
- China's economy expanded by 7.9% by 2Q2009 and is expected to be the first country to emerge out of the worst slump in history.
- Iraq oil service contracts are up for auction and open to international oil companies. Iraq needs the international expertise to help revive its oil and gas industry.
- Marriot International Inc. has plans to continue expansion by buying over struggling hotel from competitors.
- The MIER has forecasted that Malaysia's economy may shrink by 4.2%. It also forecasted that exports may plunge by 21.8%, unemployment rate may reach 4.8% whilst the inflation rate may drop to 1.6%.
- Overnight Policy Rate (OPR) will remain unchanged at 2.0%.
- Performance for palm oil exports unexpectedly rose by 9.9% in July.
- The country's foreign reserves stood at US$91.2b, a slight dip compared to last year's US$91.5b.
- Amanah Saham 1Malaysia, a RM10 billion fund was set up by Permodalan Nasional Bhd to invest in public traded companies. The fund is aimed to stimulate the country's economy.
- The private pension scheme will be introduced by middle of next year.
- Pos Malaysia is to team up with RHB Bank and Maybank to offer bank's financial services in the post offices.
- Rehda wants government to remove the 0.5% stamp duty on service contracts.
- Hong Leong will open its first wholly owned commercial bank in Vietnam under the name Hong Leong Bank Vietnam Ltd.
- Hotel occupancy rates down by 15% to 20% due to Influenza A(H1N1) pandemic.
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Bandar Saujana Putra
Developer: Jatidiri Gigih Sdn. Bhd.
Location : Puchong, Selangor
Development : 200 units of single-storey terraced house
Land area : 1,300 sq.ft.
Price : Starting from RM149,000/-
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Bandar Bestari
Developer: KSL Holdings Sdn. Bhd.
Location : Jalan Klang-Banting
Development : 8,000 units of cluster / semi-detached / bungalow houses
Land area : na
Price : na
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Cahaya SPK
Developer: SPK Homes
Location : Shah Alam U09
Development : 70 units of 2-storey linked house
Land area : 1,920 sq.ft.
Price : RM385,000/-
Development : 47 units of 2-storey superlink
Land area : 1,920 sq.ft.
Price : RM488,000/-
Development : 63 units of 2-storey linked house
Land area : 1,920 sq.ft.
Price : RM385,000/-
- Sime Darby launches its 'Safe City' initiatives in Ara Damansara. The developer will build a RM1.1 million police station equipped with a RM2.2 million CCTV system with 22 solar-powered cameras linked to PJ police district headquarters.
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An overall look at the Bangsar South development:
The Horizon
Phase 1 comprises 14 blocks of 10 and 11-storey offices with gross floor area of 55,000 sq.ft..Price starts from RM650psf. Phase 1 is completed with Certificate of Fitness in June 2009. Phase 2 comprises 10 blocks of boutique offices with a total floor area of 1.5 million sq.ft.
The Village
A 3-storey building with a built-up of 35,000 sq.ft. which comprises a showroom, convenience store, art galler and F&B outlets.
The Sphere
2-storey boutique mall with lettable area of 80,000 sq.ft.
The Park Residences
2 blocks of condominium comprising 470 units. Sizes range from 1,200 to 2,100 sq.ft. priced at RM420 to RM450psf.
The Cypress
Serviced suites with sizes ranging from 678 to 1,250 sq.ft.
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An update on Platinum Park:-
The 50-storey Naza Tower will sit on a 1.2 acre site. The building is expected to complete in 2013 and will have a net lettable area of 532,470 sq.ft.
Tabung Haji was rumoured to have purchased a 30-storey commercial building sited within the 4.1 billion integrated development.
- Glomac Damansara is up for sale at RM170 million.
- DNP Bhd recently unveiled their latest serviced apartment project, Verticas Residency. Prices started from RM970 psf.
- Hap Seng Group is in the process of acquiring half of the Menara Citibank building for the consideration of a RM300 million. Menara Citibank is currently owned by Citigroup (50%), Capitaland Ltd (30%) and Amsteel Corp Bhd (20%). HPG is planning to acquire the portions owned by Capitaland and Amsteel.
- Concorde Hotel will be undergoing a RM40 million facelift over the next 3 years.
- Hentian Puduraya terminal will be given a RM31 million makeover.
- Malaysia Pacific Corp Bhd are in talks with a foreign partner to redevelop the 35 year old Wisma MPL.
- Taman Sari Waterfront project will be sited at the former Pekeliling flats site. The project is estimated to generate a GDV of RM4.77 billion. The entire development is estimated to take 7 to 10 years to complete. Phase 1 to 4 will spread over 2 years.
- The newly completed Wangsa Walk, developed by MSL Properties Sdn. Bhd., will be anchored by Cold Storage. The total net lettable area is 273,069 sq.ft
- TA Enterprise Bhd will be the new owner of the 4-star Swissotel Merchant Court Singapore.
- Mudajaya Corp Bhd, a subsidiary of Mudajaya Group Bhd, has been awarded the RM75.39 million to contract build a hospital in Pahang.
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By early 2010, at least 70% of Genting's Sentosa casino resort will be completed including Southeast Asia's first Universal Studio' theme park. Genting will be expecting at least 12 to 13 million visitors. The construction of the $346 million Hard Rock hotel is also on schedule and expected to open doors by end 2009 or early 2010.
(Source : Business Times)
- PJ Section 13 may be converted to a commercial zone if the Special Area Plan (Rancangan Kawasan Khas or RKK) is gazetted.
- KPJ is negotiating to purchase the partially completed hospital in Bdr Baru Klang for RM38 million. The redevelopment of Lai Meng school site located along Jalan Ampang is currently ongoing.
- The auction date for Putra Place is slated on August 20, 2009. The reserve price is fixed at RM634.5 million.
- Kuantan town will be given a boost with the RM10 billion Bukit Gambang Resort City project. The development will be undertaken by Sentoria Development Sdn. Bhd. and will be completed in 10 years.
- Bandar Botanic Klang will have its own wholesale city. Known as The TSI project, the development will take place on a 5.86 hectare site that will span over a 10 year period.
- South City Plaza in Seri Kembangan has been given a new name, Edu Mall@South City. The name is attributed to the fact that 25% of the mall (200,000 sq.ft.) has been reserved for educational providers whist 700,000 sq.ft. for educational tenants. Rental starts at RM1.50 psf.
- Sheration Subang Hotel & Tower will be given a new look and rebranded. The hotel will unveil its new image in October.
- Axis REITS is looking to purchase of Axis Steel Centre in Klang. The industrial complex is tagged at RM65 million.
- CBS Technology has disposed their land in Kota Damansara (12,189 sq.m.) for RM8.79 million (or analysed to be RM67 psf).
- Trans-Asia Shipping Corp (Tasco) sold their 3-storey office building cum warehouse together with an adjoining piece of land in Lion Industrial Park II, Shah Alam for RM17.3 million and purchased a RM41.8 million industrial property in Shah Alam from JVC Manufacturing Malaysia.
- Mangotone Group disposed 2 parcels of industrial land in Kota Damansara measuring a total of 2.43 hectares for RM15.47 million (or analysed to be RM59 psf).
- Magna Prima Bhd purchased a 9.04 hectares of land in Gombak, Selangor for RM40.53 million (or analysed to RM42 psf) with plans to develop a RM130 million mixed development project. The land is located near FRIM Kepong, at the intersection of Jalan Taman Bidara, Persiaran 1 and Lebuhraya Rawang. The development will include 8 shoplots, a medium-cost apartment of 72 units, two units of detached houses, 47 units of three-storey terraced houses, 79 units of three-storey semi-detached, 20 units of three-storey semi-detached houses and one unit of clubhouse.
- Kuala Lumpur Kepong Berhad purchased 95% stake of PT Bumi Makmur Sejahtera Jaya Bhd for RM2.3 million increase its plantation area in Indonesia. The latter has at least 2,366 hectares of land in Desa Mentawak and Desa Air Kelik, Belintung Timur.
- Another conglomerate expanding its plantation area is United Malacca Berhad. UMB purchased 10,102 hectares of land in Kinabatangan, Sabah for RM240 million.
- Monetary Icon (M) Sdn. Bhd., a subsidiary of Magna Prima Bhd, recently purchased parcels of freehold and leasehold lands totalling at 16.78 acres for RM40.5 million cash.
- Aliran Perkasa Sdn. Bhd., a subsidiary of Metro Kajang Holdings Bhd, is looking to expand in Semenyih with their recent purchase of 113.46 acres of land. The transaction was recorded at RM34,038,215.79 (or analysed to be RM6.90 psf).
- Asian Finance Bank plans to invest USD500 million in some undervalued properties in Malaysia and other regions in South East Asia.
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Sime Darby Property plans to develop 6.5 hectares with residential developments of the nearly 30 hectares Subang Ria Park. The proceeds from the sale will be channelled back to upgrade and enhance the park.
(Source : The Star Newspaper)
- Malaysia Pacific Corp Bhd has partnered with a foreign investor to redevelop Wisma MPL.
- Bandar Setia Alam Sdn. Bhd. has entered into a joint-venture agreement with Lend Lease Asian Retail Investment Fund (ARIF) to develop the RM750 million mall in its flagship township in Setia Alam, Shah Alam. Upon completion, it will boast a total gross floor area of 1.23 million sq.ft.
- Axis REITs is looking to buy another 4 properties worth RM220 million.
- Citibank plans to venture into Islamic banking and plans to set up 4 more conventional branches in Malaysia.
- IJM will to complete its buying spree for plantations by year end and to start planting soon.
- 7-eleven targets to open another 2,000 outlets in next 5 years.
- 2 of Sunrise's projects won awards in the Asia Pacific Property Award recently. 10 Kiara won the 'Best High-Rise Architecture in Malaysia' whilst 11 Kiara won the 'Best High-Rise Development in Malaysia'.
- MIC deposited RM3.2 million to pay to Penang state government as compensation to residents of Kg Buah Pala.
- WCT Bhd won contract worth RM766 million for infrastructure works in Medini Iskandar Malaysia, Johor. The project is expected to be completed by July 2011.
- By 2012, Malacca will have its own Arab City. The Golden Corporate Heritage Sdn. Bhd.'s RM1.2 billion project will take place in Pulau Melaka, Klebang and Kg Jawa.
- Berjaya Land Bhd recently became the new owner of the Singaporean investment holding company, Berjaya North Asia Holdings Ltd.
- Mitrajaya Holdings Bhd secured a RM63.64 million project to develop Newcastle University Medicine Malaysia Campus at Educity in Iskandar Malaysia.
- SunCity is in negotiations to acquire Sunway Hotel Hanoi for USD17 million (RM61 million).
- A stop-work order has been issued for Kenanga Wholesale City as part of the road has caved in.
- The Selangor Task Force has identified a total of 130 abandoned projects
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