Malaysia's Budget 2024 has set its sights on optimizing subsidies, a move that is poised to have significant implications for the country's real estate sector. According to JLL's Malaysian 2024: Real Estate Key Highlights report, this budget aims to redirect resources towards development expenditure, ultimately supporting the nation's journey to becoming a developed nation. Key Highlights:...

Tycoon Tan Sri Lim Kang Hoo, a significant shareholder in various companies, including Ekovest Bhd, Knusford Bhd, Iskandar Waterfront Holdings Sdn Bhd (IWH), and Iskandar Waterfront City Bhd (IWCity), has put forward a proposal to merge and streamline these businesses under an enlarged Ekovest Bhd. This move aims to rationalize his business segments, consolidate his direct shareholdings, and mitigate...

In a move to further stimulate economic growth and development in Sabah, Malaysia, the state government is planning to establish two new industrial parks. These developments align with Sabah's investor-friendly approach and its commitment to enhancing the quality of life for its residents through various growth sectors. Chief Minister Datuk Seri Hajiji Noor revealed that one of the industrial parks will...

The Malaysia My Second Home (MM2H) program, aimed at attracting foreign investors and tourists to Malaysia, has experienced significant success in the post-pandemic era. Between November 2021 and the end of September 2023, a total of 2,164 applications were submitted, of which 1,905 (88%) have been approved. Additionally, the Premium Visa Programme (PVIP), designed to encourage foreign investment and...

JLL, a leading real estate services firm, has introduced JLL GPT, the industry's first purpose-built generative artificial intelligence (AI) model for the commercial real estate (CRE) sector. Developed by JLL Technologies (JLLT), the technology division of JLL, this bespoke AI model will empower JLL's global staff to deliver unparalleled CRE insights to clients. The model combines extensive in-house data...

A recent high-profile scandal involving 60 real estate agents suspected to be linked to the sale and rental of properties related to one of Singapore’s biggest money-laundering cases has no doubt rocked the island republic known for its clean governance. Ten suspects were arrested on Aug 15 in the Lion City over an anti-money laundering probe “that has been described by the prosecution as...

The retail market in Johor Bahru is poised for significant growth, driven by the upcoming Johor-Singapore Rapid Transit System (RTS) Link. The RTS Link is expected to transport approximately 10,000 passengers per hour in each direction, providing a substantial boost to the region's economy. Allan Soo RE Consultants principal, Allan Soo, shared these insights during the Johor Bahru Retail Market Conference...

The Bentong Municipal Council (MPB) has issued a stop-work order for the alleged construction of a toll gantry near Gohtong Jaya, a popular access point to Genting Highlands in Bentong, Malaysia. The order was issued because the developer did not submit any plans or seek approval from local authorities before beginning construction at the site. While it's understood that the gantry was intended for toll...

Merissa Serviced Suites, developed by Tropicana Cenang, is a prestigious offering of 60 prime seafront residences nestled along the pristine shores of the world-renowned Cenang Beach in Langkawi. This property marks a harmonic blend of exquisite island living and modern architectural elegance, providing a sublime retreat for those seeking a beachfront abode or a lucrative investment opportunity in...

Japanese household items supplier Daiso is set to make a significant investment of RM1 billion in the construction of its largest Global Distribution Centre (GDC) in Port Klang, Selangor. This substantial move comes as part of Daiso's commitment to expanding its logistics operations and product distribution network globally. The GDC in Port Klang will mark Daiso's second international hub, following the...