News by Chelsey Poh

The joint venture company, known as MFBBCC Serviced Suites Sdn Bhd (MFBBCC), will be 51% held by MFAM and 49% by BBCCD. MFBBCC will manage and operate the property including granting of tenancies within the property.

Executive director of Capital Markets Allan Sim: Post Covid-19, we expect to see more major companies looking to diversify and decentralise their supply chains across countries and regions to mitigate geographical risks on production lines or material sourcing. The decoupling of US-China supply chains is also evident as trade tensions continue to intensify.

MIEA also urged the government to include secondary market properties in the removal of the 70% cap on the margin of financing for the third housing loan.

Sunway Group chief innovation officer and Sunway iLabs director Matt Van Leeuwen: We hope to empower homeowners to grow their own food. This will be a model for Sunway Property to replicate throughout their cities in Malaysia, and allows us to scale up quickly.

CEO Ong Ghee Bin said OSK Property has defined essential homes as developments that emphasise on the fundamental requirements with selected key facilities while maintaining a balance of greenery and sustainable features.

Sold for: RM550,000 (RM519.36 psf); Concluded by: Justin Lee (REN 32527) (016-618 9568) of Full Homes Realty; When: February 2020

IUBIB executive chairman Tan Sri Datuk Alex Ooi: 1st Avenue Virtual Mall “will be integrating digitalization and information technology with the brick-and-mortar segment, which refers to the physical stores at this point.”

Retail partners include TF Value-Mart Hypermarket, GreatZone Household Centre, Watsons, MR DIY, Midas Rainbow, Green Point Departmental Store, New Market, Pharmhouse Pharmacy, Marrybrown, Moons Café and Food Court

Sold for: RM1.55million (RM1033.33psf); Concluded by: Wennie Liew (REN 16099) (012-233 3013) of IQI Realty Sdn Bhd; When: November 2019. Office units at Sunway Velocity enjoy high demand due to their strategic location and the potential of future developments in the area.

Chur Associates founder and managing partner Chris Tan: We are likely to have to live with Covid-19 for some time so a strong community with proper property management is probably the best.