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Malaysia’s overall real estate market hit hard by coronavirus

Malaysia’s overall real estate market hit hard by coronavirus

The coronavirus, or Covid-19, has brought the whole world to a standstill, and the property market is no exception with mounting pressure on the supply and demand. Knight Frank Malaysia is expecting lower activity in leasing and investment in commercial office. The firm’s executive director of corporate services Teh Young Khean said the Covid-19 pandemic...

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Glomac’s 3Q net profit jumps on property sales

Glomac’s 3Q net profit jumps on property sales

GLOMAC Bhd’s earnings jumped 747.8% year-on-year (YoY) to RM12.1 million in the third quarter ended April 30, 2020 (3Q20), due to ongoing development phases and stronger performance by the property investment segment, complemented by overall administrative cost savings. Earnings per share for the three months rose to 1.56 sen. Revenue for the period fell 6.3% YoY...

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WCT Bhd secures RM1.2b job from Jendela Mayang

WCT Bhd secures RM1.2b job from Jendela Mayang

WCT Holdings Bhd’s whollyowned subsidiary WCT Bhd has secured a RM1.2 billion contract from Jendela Mayang Sdn Bhd (JMSB) to undertake superstructure works for parcel two of the Pavilion Damansara Heights development project. In a filing with Bursa Malaysia today, WCT Holdings said the job entailed execution and completion of one block of a 32-storey...

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Effects of Covid-19 on local property market

Effects of Covid-19 on local property market

THE outbreak of the Covid-19 has significantly reduced the average sales of businesses across multiple industries and will play negatively on the local property market, says a senior real estate marketing consultant. “Many developers are already struggling to keep their heads above water. With daily updates, new information, and more confirmed cases, the long term...

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IJM Land continues to make headway in Seremban 2

IJM Land continues to make headway in Seremban 2

SEREMBAN 2, a 1,520-hectare freehold self-contained township by IJM Land Bhd was established in 1995 and is one of the most progressive and successful developments in Negri Sembilan. The multi-billion ringgit satellite township comprises a good mix of residential, commercial and light industrial properties. Being part of the Greater Klang Valley, the township has been...

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Rental rates hold on as bearish pressures build

Rental rates hold on as bearish pressures build

RENTAL rates on residential properties remains steady in the first three months of this year despite a weaker economic environment and bearish capital markets. Malaysian Institute of Estate Agents (MIEA) president-elect Chan Ai Cheng said the ability to maintain rental rates is generally the preferred option among homeowners during unpredictable economic situations. “A couple of...

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A Right Time For REITs To Shine

A Right Time For REITs To Shine

 Given the expected slow recovery of the real estate industry, many investors are relooking at their options to maximise their property portfolios but strangely enough many are still unaware or uncertain about investing in real estate investment trusts (REITs). In fact, many are still of that mentality where investing in real estate means flipping for...

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MIEA applauds PDRM, BOVAEP over raid on illegal real estate firms

MIEA applauds PDRM, BOVAEP over raid on illegal real estate firms

KUALA LUMPUR (March 14): The Malaysian Institute of Estate Agents (MIEA) has extended its thanks and support to the Royal Malaysia Police (PDRM) and the Board of Valuers, Appraisers, Estate Agents and Property Managers (BOVAEP) for a recent raid on the premises of a cooperative for allegedly conducting the business of real estate agency illegally. MIEA president Lim Boon Ping said...

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Riverbank Cove set for growth this year

Riverbank Cove set for growth this year

Perak-based developer RH Consortium Sdn Bhd, which aims to go public in the next three to five years is in talks with healthcare and hotel operators for its project, Riverbank Cove, in Manjung, Perak. Riverbank Cove, which is situated at the river mouth of Sungai Tiong overseeing Pangkor Island has a gross development value of...

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Tropicana Lays Foundation For Next Growth Phase

Tropicana Lays Foundation For Next Growth Phase

PETALING JAYA: Property developer Tropicana Corporation Bhd is focusing on laying the groundwork to strengthen its foundation to see it through the next growth phase. The group plans to introduce new developments and phases across its signature Tropicana townships this year amounting to a gross development value (GDV) surpassing RM2.0bil. A key highlight will be...

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