The company’s education division, on the other hand, recorded a 67% jump in PBT to RM10.2 million from last year, on higher student enrolment and a RM2.3 million gain from the sale of student accommodation apartments, after KDU University College moved to its new campus in Glenmarie, Shah Alam.
The rental market in Cheras is driven by its proximity to Kuala Lumpur City Centre.
Up until recently, the property market in Cheras has consisted predominantly of mature, middle-class condominiums and apartments.
It is understood that the project is related to BCB’s Elysia Park Residence, which is located in Medini, Nusajaya.
The most expensive project was Vistaria Residensi with an average transacted price of about RM699,000 per unit.
Confirming a report today in The Edge weekly, the property developer said its 99.99%-owned indirect subsidiary, Sunsuria City Sdn Bhd (SCSB), and 99.99%-owned direct subsidiary, Sunsuria Gateway Sdn Bhd (SGSB), have signed an agreement with one of Ever Rich's real estate investment arm, Welcome Global Co Ltd.
In 2015, new launches (in unit) dropped 19% as developers delayed their launches after a fall in take-up rate from 45% to 41%. Despite the rise in number and value of unsold units (which increased 16% and 56% respectively), it still remains manageable as the total of unsold units only represents about 1.6% of existing housing stock.
Cheras is seeing some exciting new developments such as MyTOWN Shopping Centre by Boustead Holdings Bhd and Ikano Pte Ltd as well as Sunway Velocity by Sunway Bhd.
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