KUALA LUMPUR: The Real Estate and Housing Developers’ Association (Rehda) is concerned over the impact that the implementation of the goods and services tax (GST) will have on the affordability of housing here.

KUALA LUMPUR: SunREIT Capital Bhd, the second-largest Malaysian real estate investment trust (REIT) by assets, is expected to generate solid earnings and cash flow in the near term, underpinned by its key assets’ resilient track record, minimum guaranteed rental income from its hospitality assets and the triple net lease from its recent acquisition of the

KUALA LUMPUR: Fajarbaru Builder Group Bhd (FBG) has acquired three pieces of land in Australia for A$6.9 million (RM20.6 million) cash through its indirect unit, Fajarbaru-Beulah Melbourne Pty Ltd.

FBG said the acquisition was to add land bank to its property development division.

SINGAPORE: Ascott Residence Trust (Ascott REIT) has entered into conditional agreements to acquire its first serviced residence in Kuala Lumpur as well as Wuhan and Xi’an in China. The total property value of the acquisition is S$173.9 million (RM445 million).

Ascott REIT will acquire the 207-unit Somerset Ampang Kuala Lumpur from The Ascott Ltd (Ascott) for RM175 million.

KUALA LUMPUR: PUC Founder (MSC) Bhd (PUCF) saw four blocks of shares totalling 51 million shares, or a 6% equity stake, traded off-market yesterday.

According to Bloomberg data, the big chunk of shares was transacted at 11.5 sen per share, at a sharp discount of nearly 83% to yesterday’s closing price of 21 sen.

Sime Darby Bhd
(July 7, RM9.66)
Upgrade to outperform with target price of RM10.50: Sime Darby has announced that it is selling its freehold land in Sungai Buloh, Selangor for RM239.8 million to Eastern & Oriental Bhd (E&O). The 135-acre (54.6ha) tract will be carved out from the current 843 acres land owned by Sime Darby Elmina Development Sdn Bhd.

JOHOR BARU: The Sultan of Johor, Sultan Ibrahim Ismail Sultan Iskandar, welcomes the entry of more foreign investments to the state.

The entry of foreign investments could change the landscape of the state, besides providing benefits from the economic and job opportunities to the rakyat in the long term, the Sultan said yesterday.

KUALA LUMPUR: Having kept a low profile since the acquisition of 338ha of resort development land on Bintan Island, Indonesia for RM769.12 million in 2008, Landmarks Bhd is now ready to step back into the limelight with the unveiling of Phase 1 of the integrated resort development known as Treasure Bay Bintan, which has a gross development value of US$650 million (RM2.08 billion).

KAJANG: De Centrum Unipark Condominium, a freehold residential development in Kajang by Protasco Bhd, achieved a take-up rate of more than 50% in pre-sales since it started selling on June 28, according to group managing director Datuk Seri Chong Ket Pen at the unveiling of the condominium on Monday.