The real estate market outlook for Penang till the end of this year seems rather uncertain due to weak market sentiments in both the primary and secondary markets. This is expected to lead to poorer performance this year, according to Henry Butcher Malaysia (Penang) Sdn Bhd.
The first quarter ended June 30, 2016 (1QFY17) revenue fell 64% mainly due to earlier completion of projects and delays in the launch of new property projects. 1QFY17 net profit was below RM100,000. No interim dividend was declared.
Ivory said the property market remains sluggish with challenging economic environment globally and domestically.
IOI Properties said the land was acquired via its indirect 99.8%-owned subsidiary IOI (Xiamen) Properties Co Ltd through a competitive bidding conducted by the Xiamen Bureau of Land Resources and Real Estate Management.
In contrast, Ireka incurred net loss of RM4.09 million in the previous corresponding quarter mainly due to the share of loss in Aseana.
Executive director in managing director's Office at Khazanah Nasional Bhd, Datuk Charon Wardini Mokhzani: We’re really glad to see that affordable housing now is a big topic of conversation. The more people discuss it, the more likely we are to solve the problem.
E&O recorded a top-line growth of 137% year-on-year (y-o-y) in 1QFY17, mainly driven by higher revenue recognition of its ongoing projects in Seri Tanjung Pinang
The freehold project comprises 352 units of 3-bedroom and 2-bathroom apartment units with a built-up size of 900 sq ft. Each comes with two parking bays. Prices start from RM307,000.
The development is accessible via the North-South Expressway, New Pantai Expressway, Kuala Lumpur-Seremban Expressway and Shah Alam Expresway.
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