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Investors should eye niche real estate

LONDON: Property investors should look into niche or non-traditional real estate in Asia-Pacific as there will be less pricing competition, says LaSalle Investment Management’s (LIM) “2014 Investment Strategy” annual report.However, the report said such niche properties are likely to have more risk.

Tropicana Heights@Kajang targets younger buyers

KAJANG: Tropicana Corp Bhd is targeting younger buyers in Kajang for the first phase of its Tropicana Heights@Kajang development, Fairfield Residences, which will be launched tomorrow. Tropicana Heights@Kajang sits on 199 acres (80.53ha)of freehold land and commands a gross development value (GDV) of RM2.3 billion.

Hektar REIT 4Q net property income up 10.3%

KUALA LUMPUR: Hektar Real Estate Investment Trust (REIT), a retail-focused REIT, recorded a 10.3% year-on-year  increase in net property income (NPI) to RM20 million for its fourth quarter ended Dec 31 of financial year 2013 (4QFY13). Gross revenue for the quarter rose 4.7% to RM30.4 million.

Realised net income stood at RM13.15 million for the quarter under review, up 21.7%.

MRCB eyeing UEM Builders

KUALA LUMPUR: Malaysian Resources Corp Bhd (MRCB), which is 38.9% owned by the Employees Provident Fund (EPF), is exploring the possibility of acquiring UEM Builders Bhd to strengthen its construction arm, said sources.

It is understood that MRCB has held preliminary talks with UEM Builders, the engineering and construction unit of UEM Group, for a possible takeover.

Another round of downward repricing for REITs?

IN our previous piece, we discussed some of the risk factors for real estate investment trusts (REITs) that are listed on the local bourse as well as their prevailing returns compared against the risk-free yields on government bonds.

In this piece, we are taking a closer look at some of the larger REITs and comparing their returns against trusts that are listed in Singapore.

Land & General sits on RM600m unbilled sales

KUALA LUMPUR: Land and General Bhd (L&G) sits on unbilled sales of about RM600 million that will last the company through the next 15 months, said its managing director Low Gay Teck.

WCT paving the way to its first REIT

SHAH ALAM: WCT Holdings Bhd wants to have at least four shopping malls and two hotels in its portfolio by the first quarter of 2018, as it explores the possibility of setting up its first real estate investment trust (REIT) to raise recurring income.

Over RM3,000 psf for TRX land

KUALA LUMPUR: 1Malaysia Development Bhd (1MDB) is setting a reserve price of above RM3,000 per sq ft (psf) for its flagship Tun Razak Exchange (TRX) development, given the recent highs fetched within the central business district, a source told The Edge Financial Daily.