KUALA LUMPUR: The Johor property market will not likely be affected by the proposed tax rate hike on properties owned by foreigners, say analysts.

Last week, Johor Menteri Besar Datuk Mohamed Khaled Nordin said the state government would impose higher taxes on properties owned by foreigners. The new tax rates are still being discussed and would be imposed by the year-end.

THE commercial leasing market is expected to remain challenging in the short to medium term. This is due to a tenant's market, upcoming completion of office buildings as well as existing supply of such space. "New supply of office space in the decentralised location of KL Sentral (KLS) may cause a significant drop in occupancy in the short term.

IT is hard to believe that just over a decade ago, what is now known as Setia Alam was a sprawling oil palm estate that was only accessible via Jalan Meru, a small trunk road in Klang, Selangor.

PETALING JAYA: The first phase, Pandora Serviced Residence, of Tropicana Corp Bhd’s integrated project Tropicana Metropark in Subang Jaya has seen more than 70% take-up since its launch on May 31. “This signifies high demand and buyers’ confidence in this award-winning development,” said Tropicana Corp group CEO Datuk Yau Kok Seng (pic). Tropicana Corp was formerly known as Dijaya Corp Bhd.

SINGAPORE: Afiniti Residences in Medini North, Iskandar Malaysia, Johor, was sold out on launch day last Saturday with Malaysians making up 72% of buyers, of whom 37% are Johoreans. Singaporeans accounted for another 25% of buyers, and the rest were bought by nationals from Indonesia, India and China.

KUALA LUMPUR: United States-based Horizon Group Properties Inc and Mainstay Properties Sdn Bhd will jointly invest more than RM180 million to develop the first phase of 'The Outlet Shoppes', a premium
outlet mall in the vicinity of the Kuala Lumpur International Airport in Sepang.

KUALA LUMPUR: The Kuala Lumpur International Airport's (KLIA) mega property development project, 'KLIA Aeropolis', has immense potentials to emerge as a significant airport city in Asia in the next five to
10 years.

PETALING JAYA: The Natural Resources Ministry and the Environment Department are considering drafting a blueprint for Cameron Highlands to look into sustainable development of the site.

This possibility for such a document comes after reports last month of rampant and illegal clearing of the forest.

GEORGE TOWN: When wanton destruction of forested hillslopes in Cameron Highlands made the news yet again, many people had already seen for themselves much of the damage.

Hill after hill, huge tracts of land were stripped of their greenery, a blight upon the land,visible from the main roads.

KUALA LUMPUR: Malaysia Airports Holdings Bhd’s (MAHB) MD, Tan Sri Bashir Ahmad, will be staying on for another year in the group, which has been under fire for the delay in completing klia2.

In a statement yesterday, MAHB announced that the Ministry of Finance (MoF) had extended Bashir’s services as managing director for another year effective June 7.