"We're really happy about that, it is a good start for us for 2017," said Aset Kayamas managing director Tan Sri Chai Kin Kong.

Guocoland said in a filing to the Singapore Exchange that the challenging operating conditions in Malaysia are expected to continue, but added that it will continue to focus on sales and leasing of its current projects.

The group's income distribution came in at RM177.83 million or 9.85 sen per unit for the quarter, down 0.3% from RM177.28 million or 9.82 sen per share in 4QFY2015.

KIP REIT Management CEO Lim Han Gie said the subscription results showed that the Malaysian public as well as institutional investors view the REIT favourably.

Located in Sun Street, London, prices of the one-bedroom apartment units start from £725,000 (RM3.98 million) and will be completed by the summer of 2020.

Richard R Magnus, chairman of manager CapitaLand Mall Trust Management Limited (CMTML), notes the trust’s “resilient” performance against a challenging backdrop.

Revenue recognition on the sold units of five of its mixed projects in Singapore and rental income mainly from the group’s 70% stake in Space@Tampines (the industrial property was completed in June 2015 and has occupancy rate of 95%) also lifted sales.

Net profit plunged by a steep 80% to RM14.94 million from RM74.54 million in the same period a year ago due to absence of revaluation surpluses.

Under the bilateral agreement entered into between Malaysia and Singapore in early December last year, the HSR project is going to be developed through a three-tier model.

The 367-room hotel, which will be constructed by Golden Wave, is expected to be completed by 2021.