Yap: In the longer term, property in Penang, Johor and Kuala Lumpur will perform well, but more importantly, we need to look at which developer is doing the job.
The economy’s rating is declining to B- from the B+ he gave earlier this year, Yap told TheEdgeProperty.com during a break in his “Thriving In Turbulent Times: The Art of Qi Men Feng Shui” seminar here today.
Rented for: RM4,500 (RM6.04 psf), Concluded by: Chong Teck Seng (REN 05043) of MIP Properties (012-873 1283), When: May 2016
Real estate experts cautioned against reintroducing rent control on heritage and pre-war properties in Penang, as it may drive up the cost of maintaining these properties, lowering their values and impacting tourism as a result.
The project, set to be launched on July 30, was open for registration a few months ago, and received good response from the market.
Malaysia Airports Holdings Bhd (MAHB) has tied up with AREA Management Sdn Bhd (AREA), the project management company of AREA Industrial Development Fund 1 (AIDF 1), to develop a technology park with a gross development value (GDV) of RM436 million.
Bank Negara Malaysia’s (BNM) decision to cut the overnight policy rate (OPR) by 25 basis points to 3% is expected to have a positive impact on borrowers and the property sector, said property developers and mortgage firms.
The high speed rail (HSR) linking Kuala Lumpur and Singapore provides more than speedy travel between the two countries. This game changer of a project will create an economic corridor that will impact significantly on Malaysians, said Iskandar Waterfront Holdings Bhd (IWH) executive vice-chairman Tan Sri Lim Kang Hoo.