Tropicana Cenang at Langkawi is making waves with its latest development, the Merissa Serviced Suites. After the impressive success of the first phase, Assana Serviced Suites, which saw a remarkable 90% take-up rate, Tropicana Corp Bhd is now introducing the Merissa Serviced Suites. Situated right on the beautiful Pantai Cenang beachfront, Tropicana Cenang offers breathtaking views of the Andaman Sea. The...
In the backdrop of Malaysia's flourishing urban landscapes, a darker narrative unfolds - that of unfinished housing projects commonly known as "sick projects." These ventures, plagued by various issues, inflict hardship on all stakeholders, leaving buyers without homes and financial losses, contractors unpaid, and the construction industry struggling to contribute to economic growth. The scale of this...
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...
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