Most Chinese local governments saw revenue from land sales fall in 2021, damaging their budgets just as Beijing calls for faster spending to counteract a housing-market slowdown and pull the economy out of a downturn. Thirteen of China’s 31 provinces saw income from selling land-use rights drop more than 20 per cent in 2021 from...
Read moreKUALA LUMPUR: Sunway Malls traffic and sales returned to 100 per cent normalcy in the fourth quarter of 2021 (4Q2021), in comparison to the pre-pandemic levels of 4Q2019. In a statement today, the company said among the key drivers aiding the recovery was driven by strong pent-up demand, festive seasonality, a high percentage of the...
Read moreKOTA KINABALU (Jan 17): Land on Mantanani island, which is a popular diving spot in Sabah, has been listed for sale at a price of RM12 million, according to a report by The Vibes. Additionally, the sale listings had stated that 30 acres of land is up for sale of which it is open to non-citizens...
Read moreKUALA LUMPUR: The emergence of the Omicron variant may derail the recovery path of the Malaysian real estate investment trust (REIT) sector in 2022. In light of this, RHB Investment Bank Research is projecting a cautious outlook for local REITs this year. “Although we can expect a gradual recovery for Malaysian REITs in general,...
Read morePETALING JAYA: After a nearly three-year wait, the East Coast Rail Link (ECRL) stretch that passes through Selangor – from Gombak to Port Klang – will start in the first quarter of this year. Transport Minister Datuk Seri Dr Wee Ka Siong said he approved work on this stretch to start after the Selangor government...
Read moreGEORGE TOWN: The tallest elevated road in the country, linking Ayer Itam and Bayan Lepas on Penang, is finally open, but traffic was light on the first day. The 3.8km stretch of road winds around Bukit Kukus from Lebuh Bukit Jambul on the Bayan Lepas side to Jalan Tun Sardon and Paya Terubong in Ayer...
Read moreThe Employees Provident Fund Board (EPF) is expected to sell Bangunan KWSP Changkat Raja Chulan in Kuala Lumpur to TIME Dotcom Bhd. Bangunan KWSP is a 13-storey freehold office building with 95 parking spaces. The low-density office building was completed in 1992. The original cost of investment for the building by EPF in 1994 was...
Read moreSunway Real Estate Investment Trust (Sunway REIT) is on track to increase its property value to RM15 billion in the financial year ending June 30, 2025 (FY25) under its Transcend 2025 (TC25) initiative, despite current and future headwinds. TC25 is a programme that develops a strategic roadmap to capitalise on Sunway REIT’s diversity to set...
Read moreHap Seng Consolidated Bhd (HSCB) intends to expand its venture into the hospitality sector and develop up to five hotels in Malaysia in the next few years, according to its chief operating officer David Khor. The group will build a hotel on Jalan Kia Peng, in KL Metropolis and on Jalan Sultan Ismail, where it...
Read morePETALING JAYA: Land & General Bhd (L&G) is buying a 3.55-acre vacant plot of leasehold commercial land in Puchong, Selangor for RM68mil cash, where it plans to build affordably priced serviced apartments targeted at B40 and M40 home-buyers. In a filing with Bursa Malaysia, L&G said via its indirect wholly-owned subsidiary, Billion Megastar Sdn Bhd (BMSB),...
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