M-REITMA receives endorsement from 11 REITs

KUALA LUMPUR: The first national association of real estate investment trusts (REIT) managers has been endorsed by local REITs today.

The Malaysian REIT Managers Association (M-REITMA), set up to represent the M-REIT sector and promote inter-sector dialogue, received the endorsement of 11 REIT managers today, the association said in a statement on Nov 26.

PJD plans two major launches next year

KUALA LUMPUR: PJ Development Holdings Bhd (PJD) plans to launch two new property projects next year in Mont'Kiara and Cheras with a combined gross development value of RM2 billion

Emkay to build green building in Cyberjaya

CYBERJAYA: An office premise to be built by Emkay Group via Joyful Getaway Sdn Bhd will be the first building in Malaysia to be accredited with the internationally recognized Leadership in Energy and Environment Design (LEED) GOLD certification.

RPGT has little immediate impact on MM2H

KUALA LUMPUR: It is business as usual for promoters of the Malaysia My Second Home (MM2H) programme, post the government’s announcement recently that a 5% Real Property Gains Tax (RPGT) will be levied from Jan 1, 2010, irrespective of when the property was acquired.

Metro Kajang reports net profit of RM42.4 million for FY2009

KUALA LUMPUR: Metro Kajang Holdings Bhd’s revenue rose 8% to RM373.6 million for its financial year (FY) ended Sept 30, 2009, from RM346 million in FY2008, but profit before tax dropped by 18.4% to RM57.9 million from RM71 million in the previous corresponding period.

MoU to develop Tempat Sungei Puteh extended

KUALA LUMPUR: The Memorandum of Understanding (MoU) for a proposed joint venture (JV) agreement between Sycal Properties Sdn Bhd and Global Net Communications Sdn Bhd has been extended to Jan 31, 2010.

The MoU was initially announced by Sycal on June 16, 2008 and its latest extension was announced today (Nov 25, 2009) on Bursa Malaysia

Dijaya Development buys property on Jalan Ampang

KUALA LUMPUR: Dijaya Corp Bhd announced on Nov 25 that its subsidiary Dijaya Development Sdn Bhd had on Nov 24 entered into a Sales and Purchase Agreement with Mercury Property Management Sdn Bhd for a plot of vacant freehold commercial land on Jalan Ampang.

BKP's Viva Tower handed over to owners

KUALA LUMPUR: The first tower out of four of the Verve Suites development, Viva, was handed over to homeowners recently. Developed by Bukit Kiara Properties (BKP), it is touted to be the first completed fully furnished designer suites of its kind in Mont’Kiara, Kuala Lumpur -- and possibly Malaysia.