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Malaysia’s GDP to expand by 4.4% in 2020, says EIU

Malaysia’s GDP to expand by 4.4% in 2020, says EIU

MALAYSIA’S GDP is expected to grow by 4.4% in 2020, rather similar to the economic growth that was recorded in 2019, according to the Economist Intelligence Unit (EIU). The Economist Corporate Network South-East Asia director Pamela Qiu said Malaysia can expect to reap strong benefits in the automotive and ICT sectors, as investors look to...

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MGB to build affordable houses in Abadi Heights

MGB to build affordable houses in Abadi Heights

MGB Bhd, a subsidiary of LBS Bina Group Bhd is proposing to develop affordable housing homes under Rumah Selangorku Idaman scheme on two pieces of leasehold land in Dengkil, Selangor. The group, its indirect wholly-owned subsidiary Idaman Aktif Sdn Bhd and the consortium of PNSB Construction Sdn Bhd have entered into a Joint Venture Agreement...

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Thriving industrial towns

Thriving industrial towns

Vibrant industrial activities create jobs, and in turn, demand for accommodation near the workplace, which is why industrial activities can be a major catalyst for development and the growth of the local property market. Knight Frank Malaysia executive director of capital markets Allan Sim says there is a correlation between booming industrial activities acting as...

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Johor property heading for another dip

Johor property heading for another dip

THE property market in Johor, which has the highest number of unsold stock, is not expected to improve anytime soon as demand — even for subsale houses — for 2019 declined due to the ever-increasing supply. According to iProperty.com.my’s 2019 portal demand analytics, demand for houses in the state dipped 12.2% year-on-year (YoY). Demand for terrace houses...

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Serviced residences record demand growth of 17.3% in 2019

Serviced residences record demand growth of 17.3% in 2019

KUALA LUMPUR, Jan 17  — Serviced residences recorded the highest demand growth of 17.3 per cent last year among the three property types, followed by condominiums at 14.2 per cent, due to a modest drop in capital appreciation, according to the iProperty.com.my 2019 Portal Demand Analytics. REA Group Asia general manager of customer data solutions Premendran Pathmanathan said the...

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Bank Negara surprises dropping interest rate to lowest in 9 years

Bank Negara surprises dropping interest rate to lowest in 9 years

PETALING JAYA: The surprise move by Bank Negara to reduce the overnight policy rate (OPR) to 2.75% – the lowest level in nearly nine years – has rattled banking stocks as margin compression fears kick in. Major banking counters such as PUBLIC BANK BHD (-2.36%), HONG LEONG BANK BHD (-3.56%), CIMB GROUP HOLDINGS BHD (-1.95%) and MALAYAN BANKING BHD (-0.58%) yesterday saw selldowns,...

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Lendlease reaches 50% of TRX mall lease, targets 90% by end-2021

Lendlease reaches 50% of TRX mall lease, targets 90% by end-2021

LENDLEASE Group, the developer of the retail-led mixed development part of The Exchange TRX (Tun Razak Exchange) project, is eyeing to have the retail portion 90% leased by end of 2021. Lendlease Asia CEO Tony Lombardo said to date, the retail portion of TRX is about 50% leased and committed, consisting of several international tenants...

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UDA Holdings to roll out homes targeted at young homebuyers

UDA Holdings to roll out homes targeted at young homebuyers

PETALING JAYA (Jan 21): UDA Holdings Bhd may launch at least five residential projects targeting young urban income earners this year. Company president and CEO Mohd Salem Kailany said UDA Holdings is planning around 1,000 residential units in Kuantan, Kuala Terengganu, Penang, Johor Bahru and Kuala Lumpur. “The most exciting project will be the 38...

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