Genting Highlands will soon welcome King's Park, an integrated entertainment complex with commercial and leisure properties worth over RM1 billion. The premium Swissôtel Genting Highlands will be among the five-star hotels at King's Park. The Swissôtel Genting Highlands will have 300 rooms, a grand ballroom, executive lounges, bars, and a heated swimming pool, and will open in the third...
Property developer Radium Development Bhd, en route to a Main Market listing on May 31, has set a price of 50 sen per share for its initial public offering (IPO) exercise that will raise RM434 million. The exercise comprises a public issuance of 868 million new shares, or 25% of its enlarged share capital of 3.47 billion shares. Its expected market capitalisation is RM1.73 billion upon...
A total of 50.3% or 6.4 million accounts of the total loan accounts in the household sector are fixed-rate loans that are not affected by the 100-basis-point (bps) increase in the overnight policy rate (OPR) last year, said Deputy Finance Minister Datuk Seri Ahmad Maslan. An estimated 54.8% of loan accounts of low-income borrowers, with an income of less than RM5,000 per month, are...
IGB Real Estate Investment Trust (IGB REIT), which operates the Mid Valley Megamall and The Gardens Mall here, posted a net property income of RM118.56 million for the first quarter ended March 31, 2023 (1QFY2023), up 10% from RM107.71 million in the same quarter a year ago, as the REIT recorded higher rental income. Revenue grew 15.55% to RM154.62 million from RM133.81 million,...
The Works Ministry is building a rest and recreation (R&R) stop in the Jelukong area in Lubok Antu, as well as a lay-by in Sungai Semanok, Bintulu for the convenience of users of the Pan Borneo Highway between Sibu and Bintulu. Deputy Works Minister Datuk Seri Abdul Rahman Mohamad said that in addition to providing basic facilities for road users to rest and pray, local entrepreneurs can...
The government is levying higher ABSD (Additional Buyers' Stamp Duty) rates, in a bid to cool the property market that remains firm even with a dimmer economic outlook. “The revisions to the ABSD rates to help moderate investment demand will complement our efforts to ramp up supply, to alleviate the tight housing market for both owner-occupation and rental,” says the Ministry of Finance, Ministry...
Yang di-Pertuan Agong Al-Sultan Abdullah Ri’ayatuddin Al-Mustafa Billah Shah on Monday (March 6) witnessed the signing ceremony of the memoranda of understanding (MOU) regarding cooperation to improve the efficiency of environmental management and sustainability in Cameron Highlands. The memoranda were inked between Cameron Highlands District and Land Office and Cameron Highlands Development...
KSK Land Sdn Bhd has terminated its contract with Grand Dynamic Builders Sdn Bhd (GDBSB), a wholly owned subsidiary of GDB Holdings Bhd, as the main contractor of mixed development 8 Conlay at Jalan Conlay, Kuala Lumpur. Following the termination, KSK Land has been in discussion with a new potential main contractor to replace GDBSB. Conlay Construction Sdn Bhd has formally submitted...
Inflation and a higher cost of doing business are likely to push property prices up by double-digit this year, Rehda president Datuk NK Tong (pictured) has cautioned. "On average it will be a double-digit (increase in property prices)," he said, but noted that in the past six months the anticipated price increase has not materialised. "I think this is also reflected in the moderation of (prices of)...
Accor, the region's largest hospitality group, is allying with Crowne Estate Malaysia to increase its presence in the country. Set to open in Q3 2028, Swissôtel Genting Highlands will bring the iconic Swissôtel Hotels & Resorts brand to Malaysia for the first time. The signing ceremony was attended by Sean Chen, Chief Operating Officer of Crowne Estate, Thanesh Jayandren, Executive...
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