News

Malaysia is confronting a dual housing challenge marked by soaring property prices and a substantial inventory of unsold properties. Despite improved overall sentiment, the majority of the population, including middle and lower-income groups, finds homeownership increasingly out of reach. Simultaneously, the country is grappling with an overhang of 27,746 units valued at RM18.42 billion as of the end of...

Shares of Avillion Bhd, a prominent integrated travel, hotel, and property group, witnessed a decline of 8.3% or half a sen in early Tuesday trading. This downturn occurred in the wake of heightened investor attention following the charging of former finance minister Tun Daim Zainuddin in court on Monday. Avillion, along with 23 of its subsidiaries, was listed among the 71 assets included in the Malaysian...

In a landmark ruling, a Hong Kong court has mandated the liquidation of China Evergrande Group, the world's most indebted property developer, as reported by German news agency (dpa). The decision, delivered by Judge Linda Chan on Monday, comes after a protracted legal battle with international creditors over missed payments and unsuccessful attempts by the real estate giant to avert liquidation through a...

In a strategic move to amplify its production capabilities, Sarawak Consolidated Industries Bhd (SCIB) has finalized the acquisition of leasehold plots in Demak Laut Industrial Park, Kuching, for RM21.62 million cash. This acquisition, involving 8.85 hectares some 15km from Kuching City Centre, is part of SCIB's initiative to expand its operational capacity, as stated in its earlier announcement on Jan...

JLL Malaysia has projected a continued positive growth trajectory for specific property subsectors in 2024, following their strong performance in 2023. This forecast was presented by JLL Malaysia managing director Jamie Tan during the JLL Greater Kuala Lumpur Property Market Monitor 4Q2023 press conference. Derek Yap, a member of JLL Malaysia's logistics and industrial team, reported robust warehouse...

Malaysia's property market, following a year of moderate growth in 2023, is poised to continue on a similar trajectory into 2024. This forecast comes from Rahim & Co International Property Consultants Sdn Bhd during the unveiling of their Property Market Review 2023/2024. The firm's executive chairman, Tan Sri Abdul Rahim Abdul Rahman, noted that while the market showed positive growth at a moderate...

Country Garden, a renowned international property developer, is intensifying its efforts to upgrade facilities in Forest City, aligning with the impending launch of the Special Financial Zone (SFZ) initiative. Fang Fang, the Malaysia-Singapore brand, sales, and marketing general manager, emphasized the significance of these upgrades in making Forest City an attractive hub for new investors. A key...

In a strategic move, Tropicana Macalister Avenue (Penang) Sdn Bhd, a wholly-owned subsidiary of Tropicana Corp Bhd, has inked a sale and purchase agreement with IOI PFCC Hotel Sdn Bhd, part of IOI Properties Group Bhd, divesting Courtyard by Marriott Penang for a total of RM165 million. The transaction, based on a willing buyer-willing seller basis, is set to generate an approximate surplus cash of RM80.8...

Mass Rapid Transit Corp Sdn Bhd (MRT Corp) is making significant strides in the development of the MRT3 Circle Line project, with the land acquisition process expected to conclude within two years. MRT Corp CEO Datuk Mohd Zarif Hashim shared these insights with the media during the unveiling of the TTDI-Deloitte MRT Station. Zarif highlighted the extensive land acquisition currently underway, involving...

The Urban Renewal Implementation Guidelines (GPP PSB), introduced by the Ministry of Housing and Local Government (KPKT) last September, are set to transform Malaysia's urban landscapes. As a strategic tool, the GPP PSB aims to entice developers and stakeholders to rejuvenate areas brimming with untapped potential, offering a range of attractive incentives. With the upcoming Urban Renewal Act slated...