The validity of the letter of award to the Gamuda Bhd-led consortium chosen as project delivery partner for the RM46 billion Penang Transport Master Plan has been extended till Aug 31.

“I see more developers launching smaller sized properties, especially in the high-rise category to increase affordability. Don’t be surprised to see more 400 sq ft properties being launched.”

It also has an option to buy from its major shareholders.

In 2020, a 180m-tall Grade-A office building will replace the former CPF Building. The consortium redeveloping the property into a new 29-storey tower at 79 Robinson Road comprises urban solutions provider Ascendas-Singbridge Group and its Japanese joint-venture partners Mitsui & Co and Tokyo Tatemono Co. Ascendas-Singbridge will hold a 65% stake in the consortium, with Mitsui and Tokyo Tatemono holding the remainder.

According to Cushman & Wakefield, some US$435 billion worth of new capital will be targeted at commercial real estate globally this year.

KL and Bangkok are generating higher investor interest in direct commercial real estate investment, according to JLL’s newly released Investment Intensity Index.

“[Colliers suggests] that because of limited land supply and government restrictions on developing new shopping centres in major downtown areas, new supply growth is expected to slow in the following years and the market should continue to favour landlords.”

Developers sold 977 private homes in February, more than double from 382 in January.

It’s doubtful the joint venture could pay the interest on its loan, says Rafizi Ramli.

Land & General Bhd’s related party transaction proposal to take over five property firms from its major shareholder, Malaysia Land Properties Sdn Bhd, for RM344 million cash has caught the Minority Shareholder Watchdog Group’s attention as questions remain over the deal.