News by M

Cheras is typically seen as an “old” area and not as exciting as Kuala Lumpur City Centre or Petaling Jaya (PJ), however, several key growth catalysts are about to change that perception.

The developer of the 151-acre Kota Seriemas Golf and Country Club (KSGCC) in the Kota Seriemas township in Nilai, PNB Development Sdn Bhd (PNBD) sees the value of properties in Nilai rising.

Selangor Properties showed an expansion of loss before tax in its property development segment and lower profit before tax in investment holding.

The 365-room hotel will be part of the anticipated integrated destination resort, Desaru Coast that will encompass entertainment, restaurants, shopping, a waterpark and a 45-hole golf course, among other leisure offerings.

According to the Knight Frank’s Skyscraper Index, Hong Kong continues to tower above the rest of the global cities, costing tenants over US$278.50 (RM1,151.30) psf annually while Kuala Lumpur’s skyscrapers are one of the cheapest, with an average rental of US$34.16 psf annually.

This is Mitraland Group’s latest fully integrated development in Klang South.

Deputy chief minister Datuk Amar Abang Johari Tun Abang Haji Openg feels that such a move could pose a financial risk to the developers and such a plan may not be sustainable in the long-term.

Excluding the land disposal, revenue was lower by 14% year-on-year at RM105.8 million as certain projects such as Glomac Centro had reached the tail end of recognition.

With attractive yields on offer besides the relative weakness of the Malaysian ringgit, Kuala Lumpur gives real estate investors the best value in terms of long-term growth prospects, according to international real estate services firm Knight Frank in its 2017 Global Cities report.

The annual MIEA National Real Estate Awards (NREA) organised by the Malaysian Institute of Estate Agents (MIEA) has received 31 submissions and more than 20 winners will be announced at the gala dinner to be held on Oct 1 at Sime Darby Convention Centre in Kuala Lumpur.