KUALA LUMPUR (Jan 29): Pasdec Holdings Bhd’s wholly-owned unit Pasdec Putra Sdn Bhd has signed a development agreement with Sejati Bumijaya Sdn Bhd, for the latter to develop Pasdec Putra’s freehold land at Bandar Putra in Kuantan, Pahang, into residential and commercial properties.

KUALA LUMPUR (Jan 29): House prices in Malaysia are expected to rise about 3% after the goods and services tax (GST) is implemented starting this April.

Property consulting firm Rahim & Co executive chairman Tan Sri Abdul Rahim Abdul Rahman said although transactions on residential properties were GST exempted, building materials would be taxed under the GST.

KUALA LUMPUR (Jan 28): Tower Real Estate Investment Trust (Tower REIT) recorded a distribution per unit (DPU) of 7.03 sen a share for the financial year ended Dec 31, 2014 (FY14), down 34.3% from 10.7 sen paid out in FY13.

KUALA LUMPUR (Jan 28): Sunway REIT Management Sdn Bhd, the manager of Sunway Real Estate Investment Trust (Sunway REIT), has recorded a distribution per unit (DPU) of 4.55 sen for its six months ended Dec 31 last year (1HFY15), which is 7.6% higher than 4.23 sen in 1HFY14.

KUALA LUMPUR (Jan 28): Mitrajaya Holdings Bhd clinched today a contract worth RM229.87 million to build three blocks of 20-storey public apartments at Precint 5, Putrajaya.

Based on Mitrajaya (fundamental: 1.5; valuation: 1.8)’s announcement to Bursa Malaysia this evening, its wholly-owned subsidiary Pembinaan Mitrajaya Sdn Bhd had accepted the contract from Putrajaya Homes Sdn Bhd.

GEORGE TOWN: A request for proposal (RFP) to develop the 60-acre (24.28ha) Jelutong landfill site into Penang’s first eco-town featuring mixed development will be called next month, with the Penang government hoping to reap some RM2.2 billion from land premiums.

KUALA LUMPUR: Some property developers had recently observed that the weaker ringgit could lure foreign investors to Malaysian properties but MKH Bhd managing director Tan Sri Eddy Chen does not seem to think so as he opines that Malaysia is just not on their radar.

SINGAPORE (Jan 27): Andaz Singapore, a boutique hotel brand under Hyatt Hotels Corporation, is scheduled to open in the first half of 2017, said M+S Pte Ltd chairman Tan Sri Azman Yahya.
 
“The hotel itself is of a decent size, at over 340 rooms, and we have gone through a long and detailed evaluation process before choosing Andaz,” he said at a media briefing here today.

KUALA LUMPUR (Jan 27): IGB Real Estate Investment Trust (REIT) recorded a total distribution per unit of (DPU) of 7.79 sen for the financial year ended Dec 31, 2014, an increase of 10.7% from 7.04 sen in FY13.

The total DPU in FY14 represented a yield of 5.37%, based on the unit’s closing price of RM1.31 today.

HONG KONG: Dalian Wanda Group, China’s biggest commercial real estate conglomerate, said yesterday it is investing US$1 billion (RM3.61 billion) in a prime property development close to Sydney Harbour, its second large investment in Australia.