News by M

Commonly referred to as the Beverly Hills of Kuala Lumpur, Bangsar is an elite enclave, dominated by landed housing and exclusive, low-density, boutique condominiums.

I-Bhd unveiled its high-end 8 Kia Peng residences – its first project outside its flagship 72-acre i-City “ultrapolis” development in Shah Alam – in the city centre, which has a gross development value (GDV) of RM1 billion.

Ikano Pte Ltd – which owns the IKEA franchise in Malaysia – will open its first store in Batu Kawan on Penang’s mainland in 3Q2018.

Property developers are expected to see more unsold residential units in 2016, as launches over the past two years are expected to come on stream, amid a slowdown in demand.

This week, the spotlight falls on the secondary market of non-landed residences within the highly popular neighbourhood of Bangsar.

Iconsiam Superlux Residence Corp Ltd (Iconsiam Superlux) unveiled the first Mandarin Oriental branded residence in Bangkok – a 52-storey tower that sits on 1.9 acres of freehold land and is part of the 20-acre RM5.89 billion Iconsiam integrated development.

Best Western Plus Kuching – international hotel operator Best Western Hotels & Resorts’ first foray into Sarawak’s capital – is expected to open in 2018, it said in a press release today.

“Auctions are no longer for just distressed properties. With the right knowledge and skills, non-distressed properties in the secondary market can be sold with style through auctions,” said Malaysian Institute of Estate Agents (MIEA) state branch chairman Lim Boon Ping of Kim Realty.

Gamuda expects robust property sales of RM500 million to RM520 million in Vietnam, and new overseas ventures in Melbourne and Singapore, to drive overall sales growth from FY16 to FY17.

On closer inspection, the growth in average price is derived from a lack of transactions in the relatively lower-end segment. Few observed projects displayed significant actual appreciation in capital values.