Bank Negara Malaysia (BNM)’s Monetary Policy Committee (MPC) has raised its overnight policy rate (OPR) by 25 basis points (bps) to 2.5% on Thursday (Sept 8), in line with expectations for further normalisation of monetary policy as the country’s economic growth and inflation gain momentum. This is the MPC’s third consecutive 25bps OPR hike this year, in line with 17 economists’ forecast polled...
Tropicana Windcity, a Genting Highlands mid-hill township developed by Tropicana Corp Bhd, will be a well-planned holistic retail, recreational, and residential sanctuary. Tropicana Grandhill, Tropicana Paradise, and Tropicana Avalon are three distinct masterplans that will span 112 acres, 308 acres, and 176 acres, respectively, within the 596-acre township. Tropicana WindCity is envisioned with...
LBS Bina Group Bhd has proposed to purchase two pieces of land in Bentong, Pahang for a total consideration of RM97.85 million. In a Bursa Malaysia filing on Friday (July 22), LBS Bina said its subsidiary Casa Inspirasi Sdn Bhd (CISB) signed the sale and purchase agreement with Pejabat Setiausaha Kerajaan Pahang on Friday. Both plots of land — measuring about 309.95 acres, held under leasehold...
The 486-acre former Royal Malaysian Air Force base in Sungai Besi, which is just a 15-minute drive to the Kuala Lumpur city centre, is being redeveloped into Bandar Malaysia under a public-private partnership model. However, the process of selecting a master developer has not been a smooth one. The development agreement with the initial master developer — a consortium comprising Iskandar Waterfront...
Maybank Investment Bank (Maybank IB) is maintaining its "neutral" call on Malaysia’s property sector due to growing risks such as slower sales amid the rising interest rate environment and delays in new property launches, as well as rising raw material costs. It also expects buying sentiment on big-ticket items to be affected by political uncertainties ahead of the 15th general...
Information technology and property construction company Vortex Consolidated Bhd is acquiring 187 units of serviced apartments in an on-going property development called Antara @ Genting Highlands in Pahang that is undertaken by Aset Kayamas Sdn Bhd for RM246.35 million cash. In a bourse filing on Thursday (April 28), ACE Market-listed Vortex said it has entered into a conditional sale and...
Tropicana Corporation Bhd has appointed HostAStay Sdn Bhd as its tenancy management service provider for TwinPines Serviced Suites in Tropicana Grandhill, Genting Highlands and Assana Serviced Suites in Tropicana Cenang, Langkawi. Tropicana said the collaboration synergised its high-value property portfolio in key tourism hotspots with HostAStay's established track record for excellence in the...
ANTARA is a new high-rise residential project in Genting Highlands spanning across 2.1ha of land developed by Aset Kayamas. Consisting of four towers of 44 and 46 storeys, Antara offers a total of 1,460 units with Tower A and D comprising 374 units, and Tower B and C with 356 units. Inspired by elements of Balinese society, Tower A and B are named Ayu Resort Suites while Tower C and D are called Air...
Tropicana Corp Bhd has completed the acquisition of a plot of freehold land measuring 84 hectares (ha) next to its Tropicana Grandhill property project in Bentong, Pahang. Its wholly-owned indirect subsidiary, Tropicana Inspirasi Indah Sdn Bhd (formerly known as Snowflakes Realty Sdn Bhd) last week paid the balance purchase consideration for the acquisition of the land from Emerald Hectares Sdn...
The Quill Group of companies is selling serviced apartments at its Quill City integrated development in Jalan Sultan Ismail, Kuala Lumpur. The serviced apartments, called Quill Residences offers a total of 552 units with up to 35 layout choices and three tiers of security. The construction for the long-overdue 36-storey residential tower started last year and is expected to be completed in...