Nine of 22 sick PR1MA projects completed nationwide, says deputy minister

MELAKA (Sept 22): Construction of nine out of 22 housing projects under Perbadanan PR1MA Malaysia (PR1MA) nationwide that were categorised as sick or problematic projects had been completed as of July 31. Deputy Minister of Local Government Development Akmal Nasrullah Mohd Nasir (pictured) said the nine projects, involving 6,406 units, were completed following the setting...

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The Atera set to be future icon in Petaling Jaya with superb rail and road connectivity

A new landmark named The Atera is set to change the skyline of the established commercial and residential hub in Section 14 Petaling Jaya (PJ), Selangor. Touted as an urban living marvel, the high-rise residential project by prominent developer Paramount Property is poised to revitalise the matured neighbourhood. Spreading across 9.66 acres of leasehold land, The Atera ticks all...

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Singapore is Japan’s top property investor in 2023, report says

(Sept 24): Singapore became the biggest investor in Japan’s real estate sector this year, lured by the yen’s weakness and growing demand in logistics and hospitality industries, according to Knight Frank LLP. Inflows from the city-state totaled almost US$3 billion (RM14 billion) so far in 2023, followed by investors from the US, Canada, and the...

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Special economic zone, financial hub to boost Johor’s global presence, says Sultan Ibrahim

JOHOR BAHRU (Sept 22): As the special economic zone (SEZ) between Johor and Singapore takes shape, along with the development of a special financial zone in Forest City, Sultan Ibrahim Almarhum Sultan Iskandar (pictured) envisions a bright future for Johor, one where the state’s presence is further established on the global stage. In sharing his vision to position Johor prominently...

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Tanco in JV for RM500 mil GDV residential project in Puchong Perdana.

KUALA LUMPUR (Sept 21): Tanco Holdings Bhd has entered into a joint venture (JV) agreement with Accession Development Sdn Bhd to develop a residential project in Pekan Puchong Perdana, Petaling, Selangor. An indirect wholly-owned unit of Tanco, Palm Springs Development Sdn Bhd, will undertake the design features and components of the project, followed by tabulating ...

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Home Associations laud move to require strata residence managers to be registered with BOVAEP Associations laud move to require strata residence managers to be registered with BOVAEP

KUALA LUMPUR (Sept 21): Three associations representing property managers and consultants, estate agents, and valuers have come out to support the government’s move to refine the Strata Management Act 2013 as part of its 12th Malaysia Plan Mid-Term Review revealed this month. In particular, the proposed amendment on the Act includes a requirement for strata...

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Mattress Company, HHRG To Acquire Kulim Property For RM4.5Million

HHRG Berhad has announced that its subsidiary HH Properties Kulim Sdn Bhd had entered into an Agreement to acquire the entire equity in Kulim Property Sdn for a total consideration of RM4.5million.   KPSB is the registered and beneficial owner of parcels land comprising 55 subdivided plots of commercial and residential land. Upon completion of...

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UEM Sunrise: Land deal with Melati Ehsan beneficial as we can monetise asset while keeping control of development rights

KUALA LUMPUR (Sept 15): UEM Sunrise Bhd, which is selling a 4.01-acre plot in Kiara Bay here to Melati Ehsan Holdings Bhd in a related-party-transaction (RPT), said the deal enables the group to monetise the land at its current market value while allowing it to retain control over the land’s development via a development rights agreement (DRA)...

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Sunway unit wins Singapore land tender for condo project worth RM1.2bil

PETALING JAYA: Sunway Bhd’s Singapore subsidiary Sunway Developments Pte Ltd (SDPL) has won the tender for a land parcel at Tengah Plantation Close, Singapore, together with Hoi Hup Realty Pte Ltd, for an executive condominium housing development with a bid of S$348.5 million (RM1.2 billion). The project was awarded by Singapore’s Housing and Development Board...

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Residential property overhang improves but challenges remain for office and retail sectors, says Ahmad Maslan

KAJANG (Sept 14): Malaysia’s residential property overhang recorded an improvement, with a total of 28,286 overhang units worth RM18.3 billion recorded in the first half of 2023 (1H2023), down by 5.3% in volume and 0.6% in value against the same period last year. Of the 28,286 units, Johor continued to have the highest number with 4,717 units,...

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