Time for Tropicana to shine
The affluent enclaves of Tropicana and Sunway Damansara could be among the best places to live in Petaling Jaya upon the completion of the Surian MRT station, say real estate consultants.
In Depth
Tambun awaiting green light for Raintree Park 2 and Avenue Garden
Weak earnings largely due to the early stage of construction for Raintree Park 1 and Pearl Avenue 2, while a few other projects were nearing completion and handed over.
E&O’s billing progress slower than expected
Unrealised foreign exchange (forex) gains of RM15.7 million and gains from the sale of its 50% stake in the Sungai Besi land boosted associate income to RM20.7 million.
Change of land use in PJ's Section 13 sparks more development activity
Section 13 in Petaling Jaya has seen much transformation in the past few years under the revised Special Area Plan, which aims to promote self-sustainability. And it is set to undergo more change with the launch of several mixed-use developments.
PROPERTY SNAPSHOT 4: What’s hot in Tropicana/South Sunway Damansara?
Prices on the secondary market here are strong, mirroring that of adjoining Kota Damansara. A major catalyst is the Tropicana Gardens project, which includes an MRT station and a mall, where residences were launched at over RM1,000 per square foot (psf).
E&O posts weak 1QFY16 results on lower revenue
The weaker-than-expected results were largely due to lower revenue (a decrease of 52% q-o-q, a decrease of 47% y-o-y) following the completion of two blocks of the Andaman Condominium project in 4QFY15, and most of its unbilled sales were booked under joint-venture projects.
S P Setia’s Fulton Lane delivered to buyers
Fulton Lane is S P Setia’s maiden project in Australia and is being handed over two months ahead of schedule.
PROPERTY SNAPSHOT 3: What are developments priced like in Tropicana?
In the review period, transactions of non-landed residences in the secondary market have yet to breach the RM1,000 psf level, although this will likely change once Tropicana Gardens is completed, as primary prices there have exceeded that threshold.
Sunway’s other divisions will cushion impact of soft property market
The 1HFY15 core net profit represents 65% and 58% of our and consensus estimates. The operating result was beyond expectations, with estimated earnings before interest and taxes at 76% of our full-year forecast.
PROPERTY SNAPSHOT 2: What’s affordable in Tropicana?
Based on theedgeproperty.com’s analysis of transactions in the 12 months to 3Q2014, the average transacted price per square foot (psf) was RM539 in 3Q2014, while the average transacted price per unit was RM661,000.
