News

Penang, a popular tourist destination in Southeast Asia, has taken a bold step by becoming the first state in Malaysia to impose a ban on short-term holiday rentals, including Airbnb and similar platforms. This move, aimed at tackling issues related to the behavior of tourists, is part of a wider trend seen in various global cities. Initially announced on May 30, the ban was introduced to address concerns...

Introducing Solarvest Suites @ Bangsar South – a haven of affordable luxury and convenience in the heart of Kuala Lumpur. Situated on a sprawling 0.48-acre land, this 32-storey gem offers a modern urban lifestyle that seamlessly blends comfort, connectivity, and elegance. With unit layouts ranging from a spacious 353 sqft to a comfortable 549 sqft, the 345 units of Bangsar South Residences are...

Tropicana Corp Bhd is making strides in "Redefining the Art of Highland Living" with the "grand masterplan" for Tropicana WindCity, a sprawling 596-acre integrated development in Genting Highlands. The masterplan includes Tropicana Grandhill and Tropicana Paradise, promising a gateway to safe and thriving neighborhoods with placemaking and sustainability at the core. At the heart of Tropicana Grandhill is...

Sentral Real Estate Investment Trust (Sentral REIT) has announced its intention to acquire the 27-story Menara CelcomDigi, previously known as Menara Celcom, from the Malaysian Resources Corp Bhd (MRCB). Sentral REIT's management company, Sentral REIT Management Sdn Bhd, has accepted a letter of intent from MRCB, kick-starting the negotiations for the proposed acquisition. Although the exact acquisition...

Resorts World Sentosa (RWS), under the Genting Group, is anticipated to reap the rewards of the resurgence in Chinese travelers, a positive trend for Singapore's integrated resorts. Industry publication Inside Asian Gaming (IAG) reported that the upswing in Chinese tourist numbers presents a promising outlook for both RWS and Marina Bay Sands, which reported robust financial performance in the second...

Prime Minister Datuk Seri Anwar Ibrahim has called on the Kuala Lumpur City Hall (DBKL) to take immediate action in improving the Draft Kuala Lumpur Structure Plan 2040 (KLSP 2040) and to have the document gazetted before the end of this year. Anwar, who chaired a briefing on Monday (July 17) to examine the report of the engagement sessions on the amendment of the Draft KLSP 2040, expressed his...

The rapid growth of digital infrastructure in Malaysia is making the nation an increasingly attractive hub for data centres and investment. This development is propelled by enhanced investments in components such as cable landing stations, additional underwater cables, 5G, and upgraded fibre connectivity. As per JLL's new Global Data Centre Outlook, leading sites in Malaysia currently include Selangor,...

Kuala Lumpur City Hall (DBKL) has taken a decisive step by issuing a circular that enforces a ban on room partitions (bedroom additions) in commercial-titled apartments with strata status under its jurisdiction in Kuala Lumpur. Effective since August 1, 2023, the circular is directed to the chairman of all Joint Management Bodies (JMB), Management Corporations (MC), and Sub Management Corporations (Sub-MC)...

The Malaysian government is taking significant steps to support first-time homebuyers with the Housing Credit Guarantee Scheme under Syarikat Jaminan Kredit Perumahan (SJKP). The scheme will provide government guarantees of up to RM5 billion to benefit a total of 20,000 first-time house buyers. This improvement to the scheme, offering financing guarantees of up to 120%, aims to provide more opportunities...

Tropicana Corp Bhd has achieved remarkable success in its property sales, surpassing its target and reaching RM650 million in the six months ending June 30, 2023 (1HFY2023). The property developer disclosed that property bookings have soared above RM1.3 billion, indicating a strong demand for its developments. In a filing with Bursa Malaysia, Tropicana Corp expressed its confidence in achieving a total...