Sun Hung Kai Properties Ltd posted a 15 per cent decrease in first-half profit as Hong Kong’s biggest developer warned of a slowdown in the city’s residential housing market. Underlying earnings, which exclude property revaluations, fell to HK$14.8 billion (US$1.9 billion) in the six months ended December 31, the company said in an exchange filing...
Read moreSunsuria Berhad says it is cautiously optimistic about the future in light of the pandemic and the economic challenges it will face both domestically and internationally. The developer anticipates a gradual recovery in domestic economic growth in 2022, driven by reduced movement restrictions, sustained policy support, and rising export demand. “It is our hope that...
Read moreSime Darby Property Bhd, as part of its transformation journey, may pool some of its assets and launch a real estate investment trust (REIT) in the future, according to group managing director Datuk Azmir Merican. Azmir said that the company’s current focus is on establishing an industrial development fund (IDF) as part of its investment...
Read morePETALING JAYA: Australia-based Lendlease and TRX City Sdn Bhd are expanding their investment in Tun Razak Exchange (TRX) by acquiring an additional 1.2-acre in the international financial district. In a statement yesterday, the companies said the land has been earmarked for a mixed-use development featuring hotel, residential and retail components. This is the second joint-venture...
Read moreDid you know that the expenditure for an average Malaysian household is made up mostly of home loan repayments? With these repayments being one of the largest expenses in a household, refinancing your home loan may benefit you in the form of lowering the cost of the loan. What is refinancing exactly? Refinancing is basically...
Read moreKUCHING: Property developer Ibraco Bhd is set to diversify into the steel-related business via its latest investment to set up a steel manufacturing plant here. The group’s wholly-owned subsidiary Ibraco Ascent Sdn Bhd will undertake the operation of the plant, which is expected to commence by 2023. The steel plant is pegged to have an...
Read moreBINTULU (Feb 21): The government is optimistic that the construction of Phase 1 of the Pan Borneo Highway project can be completed by the end of this year. Senior Works Minister Datuk Seri Fadillah Yusof said the target is achievable despite various challenges faced during the construction period, including the Covid-19 pandemic. “We target that...
Read moreFirst-time homebuyers, already getting clobbered by bidding wars, now face a potential knockout punch: higher mortgage rates. Costs for 30-year loans hit a more than two-year high of 3.69 per cent last week, rising about 20 per cent just since Christmas. Further increases are expected as the Federal Reserve, trying to curb inflation, hikes its...
Read moreThe former Lee Rubber Building on busy Jalan Tun H S Lee in Kuala Lumpur’s city centre has been transformed into a boutique hotel, which is set to open in July. Once the holiday residence site to Yap Kwan Seng, it is now home to Else, giving new life to the pre-war structure. The Lee...
Read moreMapletree Logistics Trust (MLT), Singapore-based logistic REIT, has announced its plan to buy two industrial land parcels in Subang Jaya, Selangor for a price of RM65.6 million, according to a report by EdgeProp Singapore on Feb 15. With the plan to acquire the two parcels, MLT aims to develop the first modern ramp-up warehouse in...
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