Pahang, a state in Malaysia, has achieved the highest average hotel occupancy rates in the country, standing at an impressive 73% for the first half (1H) of 2023. This significant accomplishment is attributed to the growing number of tourists choosing Pahang as their preferred destination. Leong Yu Man, Chairman of the State Unity, Tourism, and Culture Committee in Pahang, credited the higher tourist...
Singapore-based property management company, Bespoke Habitat, has ventured into the Malaysian market with the launch of a 200-room co-living space near Mid Valley Southkey in Johor Bahru. As of November 1st, the co-living facility has already achieved an impressive 80% occupancy rate. The rooms are fully furnished, with monthly rates varying from RM800 to RM1,400 based on factors like room size, location,...
As of September 30, 2023, the Task Force on Private Housing and Abandoned Projects (TFST) has revealed a concerning situation in Malaysia's real estate landscape. They have identified a total of 655 housing projects that fall into the categories of delayed, sick, or abandoned, collectively valued at RM79.03 billion. These projects have been broken down into the following categories: Delayed...
In a series of videos shared on TikTok by user @handsomecool666, numerous guests were seen unable to check in to their apartment units, waiting near the condominium's entrance and guardhouse. The situation arose as the condominium management had recently implemented a ban on short-term rental accommodations, catching many guests by surprise. In one video, guests were shown waiting outside the condominium...
Cornell Academy, a local hospitality education institution, has entered into a partnership with Universiti Sains Malaysia’s (USM) Graduate School of Business and King’s Park Genting Highlands to provide training opportunities for its students. This collaboration, signed on October 8, aims to enhance the skills and knowledge of students in the hospitality and business management sectors. Under the...
TA Securities believes that the Penang Transport Master Plan (PTMP) will serve as a significant catalyst for Penang's construction sector, making the state an attractive destination for investors and developers. The research house is optimistic about Penang's residential property market, driven by the robust recovery of the medical and tourism sectors on Penang Island post-pandemic, as well as the thriving...
The Setiawangsa-Pantai Expressway (SPE), spanning 20.7km, will be officially accessible to motorists in its entirety at 11.59pm on Friday. This significant development includes the opening of the previously unaccessible 16.3km stretch comprising Sections 1 to 3, extending from Kerinchi to Setiawangsa. Section 4, covering 4.4km and connecting Setiawangsa to Taman Melawati, has been operational since...
An alarming trend of renovation scams is emerging as victims come forward to reveal contractors who have been defrauding unsuspecting individuals. The typical modus operandi involves contractors showcasing enticing renovation projects on their social media profiles, attracting victims seeking quotations to realize their home improvement dreams. However, problems arise after payments are made and work...
The Ministry of Transport (MOT) plans to initiate negotiations to continue the current Keretapi Tanah Melayu Bhd (KTMB) Tebrau Shuttle service between Johor Bahru and Singapore, even after the Rapid Transit Service (RTS) commences its operations. Transport Minister Anthony Loke noted that the bilateral agreement between Malaysia and Singapore for the RTS project includes a condition for terminating the...
Pavilion Real Estate Investment Trust (Pavilion REIT) reported a 34.5% increase in net property income (NPI) for the third quarter ending September 30, 2023, reaching RM121.35 million, compared to RM90.22 million the previous year. The boost in NPI was attributed to income generated from the newly-acquired Pavilion Bukit Jalil. Quarterly revenue also surged by 43.4% to RM199.21 million, up from RM138.94...
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