SINGAPORE (EDGEPROP) – M&G Real Estate Asia, part of M&G’s private assets and alternatives business, has become a majority shareholder in ESR Ichikawa Distribution Centre, a logistics facility in Tokyo, Japan. In a Jan 19 press release, M&G announced that through its M&G Asia core property strategy, it has made a US$267 million ($353 million)...
Read moreThe Local Government Development Ministry said it has identified 481 ‘sick’ projects and 112 abandoned projects across the country so far, its deputy minister Akmal Nasrullah Mohd Nasir said. Besides a task force to oversee the matter, the ministry is in talks with the relevant agencies and is in direct negotiations with the National Water...
Read moreSime Darby Property (SDP) debuted The Prestige Collection to a resounding 97% take-up during its launch. Located in the well-planned freehold industrial estate of Elmina Business Park in the City of Elmina, the Prestige Collection consists of seven units of park-side detached factories and 24 units of super-sized semi-detached factories. The ready-built factories feature a...
Read moreKUALA LUMPUR: SkyWorld Development Bhd (SkyWorld), an urban property developer, hosted an exclusive project tour to showcase its latest completed development, The Valley Residences located in Setiawangsa, Kuala Lumpur. The event aimed to provide members of the media, bankers, estate valuers and solicitors with an immersive experience of the project and its exceptional features. Commanding a...
Read moreKUALA LUMPUR: Malaysia’s property market activity has declined by 5.7 per cent in the first quarter (1Q) of 2023 with more than 89,000 transactions worth RM42.31 billion compared to the same period last year, said the Ministry of Finance (MoF). According to the National Property Information Centre (NAPIC), MoF, the total transactions in 1Q 2023,...
Read moreSINGAPORE (EDGEPROP) – In 10 years, cities in the US are likely to have the highest future office availability compared to their counterparts in the Asia Pacific region, where excess office supply is on track to be the lowest worldwide. This was the broad trend outlined in the Savills Future Office Availability Index. The index...
Read moreKUALA LUMPUR: Sunrise Innovations Sdn Bhd, a wholly-owned subsidiary of property developer UEM Sunrise Bhd, has recently acquired about 3.7ha of freehold land for RM155mil. The developer entered a Sale and Purchase Agreement with Kwasa Properties Sdn Bhd, a wholly-owned subsidiary of the Employees Provident Fund Board (EPF). UEM Sunrise plans to utilise the land for...
Read morePavilion Real Estate Investment Trust has announced the successful conclusion of the acquisition of Pavilion Bukit Jalil, following the fulfilment of all conditions precedent as set out in the earlier Sale and Purchase Agreement and oversubscription of its first private placement, “The successful acquisition of Pavilion Bukit Jalil signals a strategic expansion in Pavilion REIT’s...
Read moreMah Sing Group Berhad (Mah Sing) today announced the acquisition of a 500 acres freehold land in Semenyih with an estimated Gross Development Value (GDV) of RM3.3 billion. To be named Glengowrie Estate, the land is planned as an integrated township development comprising mainly double storey landed homes with indicative prices starting from RM446,800. Sale...
Read moreKUALA LUMPUR: Revaluations of YTL Hospitality REIT’s (YTL REIT) full portfolio of real estate assets were recently completed. “The revaluations increased the unaudited net asset value per unit of the REIT and its subsidiaries from RM1.6395 per unit as at May 31, 2023 (prior to the revaluations) to RM1.728 per unit upon incorporation of the...
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