Property hot spots in the Klang Valley are losing their shine in the current property downturn.According to Ho Chin Soon (picture) of Ho Chin Soon Research Sdn Bhd, locations like the Kuala Lumpur’s Golden Triangle and the exclusive Mont’Kiara enclave, for example, are less hot these days.

Despite the tight office supply situation in the Klang Valley, office rent had showed signs of levelling off in 4Q2008. Rents are expected to be on a downward trend in the later part of this year due to weaker demand for occupancy.“Basically, there is no expectation for growth in office rent for the coming two years.

Paramount Corp Bhd, the developer of the Bandar Laguna Merbok resort township in Sungai Petani, Kedah, and Kemuning Utama in Shah Alam, Selangor, has moved into non-residential properties, in line with the group’s decision to diversify its products.

Enhancing core business strategies  Following weeks and repeated rounds of explanation and clarification, the uproar provoked by two news items on Sime Darby is abating. First, it was the conglomerate’s interest in taking over Institut Jantung Negara (IJN).

PETALING JAYA: Office rental in Kuala Lumpur's central business district (CBD) and Golden Triangle is expected to soften by about 10% by the end of the year, according to Knight Frank Malaysia executive director Sarkunan Subramaniam.

Zerin Properties CEO Previndran Singhe is a brave man. Despite mounting concerns over the state of the world economy in all corners of the globe — Second Finance Minister Tan Sri Nor Mohamed Yakcop recently said Malaysians must accept the reality that the global financial crisis is expected to continue into 2010 — Previndran is sticking to his guns.

It was not too long ago when luxury condo prices in the KLCC enclave were escalating at a dizzying pace. Sentiments have, however, cooled with prices treading south since the global financial crisis broke late last year. Exactly how low have prices dipped?

Syarikat Perumahan Negara Bhd (SPNB) was set up by the federal government in the aftermath of the 1997/98 Asian financial crisis to rehabilitate hundreds of abandoned property projects nationwide.

He is not perturbed that his reading of the Malaysian property market is against the herd.

KUALA LUMPUR:  Despite the current downturn in the property sector, there are still homebuyers scouting for properties as seen at the three-day Malaysian Property Exhibition (Mapex) here which ended on March 8.