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.

KUALA LUMPUR (Jan 26): KLCC Property Holdings Bhd (KLCCP) has announced a distribution per unit (DPU) of 8.75 sen for its fourth quarter ended Dec 31, 2014, which is marginally higher than last year’s 8.71 sen.

KUALA LUMPUR (Jan 26): Perduren (M) Bhd will divest its existing property assets to focus on a possible niche area of property development and property investment businesses related to the oil and gas (O&G) industry, the company said in a filing to Bursa Malaysia today.

KUALA LUMPUR (Jan 26): CapitaMalls Malaysia Trust (CMMT) announced it has entered into a conditional sale and purchase agreement with Tropicana City Sdn Bhd, a wholly-owned subsidiary of Tropicana Corp Bhd, for the acquisition of Tropicana City Mall.

PETALING JAYA (Jan 26): Furniweb Industrial Product Bhd (FIPB) which is in talks with a few parties to establish joint ventures in property development, is taking a cautious stance in selecting its partners.

KUALA LUMPUR: While a cut in development spending seems remote for now, a further fall in commodity prices could force the government to consider doing so, especially with a possible credit rating cut looming in the background.