KUALA LUMPUR: The 75.5-acre (30.2ha) KL Metropolis development in Jalan Duta, Kuala Lumpur — which will house the new headquarters of the Malaysia External Trade Development Corp (Matrade) — has a total gross development value (GDV) of RM15 billion. It will be completed by 2025 over three phases, says Naza TTDI Sdn Bhd, the property arm of the Naza Group.

Axis REIT (Oct 24, RM2.52)
Maintain buy with lowered target price of RM2.75 from RM2.90: Visible near-term growth with Axis REIT's recent proposed acquisition of a logistics warehouse in Seberang Prai, which will boost revenue by RM6.9 million in FY12F (assuming completion in FY11).

KUALA LUMPUR: Ninety-six Bumiputera subcontractors, including that of Class F, are involved in the ongoing Penang Second Bridge project with contracts valued at RM961 million, Works Minister Datuk Shaziman Abu Mansor said.

He said these Bumiputera subcontractors made up 48% of the total subcontractors appointed for the project, which was 61.83% completed.

KUALA LUMPUR: Axis Real Estate Investment Trust (REIT) is expected to issue sukuk bonds worth RM300 million in the near-term to refinance its short-term debt, extend its debt expiry profile and lock in lower interest rate.

As at Sept 30, Axis REIT short-term debt stood at RM340 million, with RM198 million due this year.

KUALA LUMPUR: Old Malay villages can only be gazetted as heritage villages provided the beneficiaries or landowners unanimously agree to do so, the Dewan Rakyat was told on Monday, Oct 24.

KUALA LUMPUR: WTW Bovis Sdn Bhd and Bovis Lend Lease in Malaysia will be known as Lend Lease Projects (M) Sdn Bhd with immediate effect in line with international property and infrastructure group Lend Lease Group's global rebranding exercise.

KUALA LUMPUR: Scientex Bhd, a major stretch film producer which has gone big into property development, has mixed property offerings to mitigate a potential slowdown in the sector, said managing director Lim Peng Jin. It has projects worth RM2.1 billion in outstanding gross development value (GDV).

WCT Bhd (Oct 21, RM2.38)

A blended solution for Medini

Ireka Corp Bhd, which has developed over 2,000 units of high-end lifestyle properties in Mont’Kiara, Kuala Lumpur, since early 2000, is now looking to develop mid-market properties.