Axis-REIT acquires Shah Alam industrial complex for RM38m in related party deal
PETALING JAYA (May 14): Axis Real Estate Investment Trust (Axis-REIT) is acquiring an industrial complex in Seksyen 16, Shah Alam, Selangor for RM38.
KPKT urges local councils to cut small traders' rents, commends DBKL’s reductions up to 50%
PETALING JAYA (May 14): The Housing and Local Government Ministry (KPKT) has urged all local authorities (PBTs) nationwide to consider reducing rental rates for business premises, stalls and food courts under their purview until end-2026, as part of efforts to ease the rising cost burden on hawkers and small traders.
PBT tenants in Negeri Sembilan to enjoy 20% rental cut
SEREMBAN (May 14): The Negeri Sembilan state government has agreed to provide a 20% rental reduction for all tenants of local authority (PBT) premises from June to December this year, involving a total cost of RM1.
Bank of America opens new office at Merdeka 118, reinforcing commitment to Malaysia
KUALA LUMPUR (May 13): Bank of America has opened its new office at Merdeka 118 here, underlining the bank’s long-term commitment to Malaysia.
The Wyn Residences hits 66% take-up as completion timeline accelerated to June 2027
KUALA LUMPUR (May 13): Land & General Bhd (L&G) (KL:L&G) has accelerated the completion timeline for The Wyn Residences in Bandar Puchong Jaya to June 2027, marking a 12-month advancement from the original June 2028 target.
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IWG expands Spaces coworking footprint in TTDI amid rising demand for flexible workspaces
PETALING JAYA (May 13): International Workplace Group (IWG) is expanding its premium coworking presence in Malaysia with the launch of a new Spaces centre at Republik TTDI in Taman Tun Dr Ismail, Kuala Lumpur, amid rising demand for flexible workspaces.
Economy minister urges local authorities, state govts to slash rental rates of premises
KUALA LUMPUR (May 13): The National Economic Action Council (MTEN) has urged local authorities and state governments nationwide to immediately reduce rental rates for premises and shops under their management.
Penang assemblyman proposes 3% levy on out-of-state property buyers
PETALING JAYA (May 13): A Penang state assemblyman has proposed a 3% property transfer premium on buyers who are not from the state, in a bid to cool speculative demand and channel funds into affordable housing schemes for locals.
Bursa reprimands Ireka, fines directors RM425,000 over Pan Borneo Sabah project disclosure breaches
KUALA LUMPUR (May 13): Bursa Malaysia Securities Bhd has publicly reprimanded Ireka Corporation Bhd and fined seven of its directors a total of RM425,000 for breaching Main Market Listing Requirements.
Rehda backs Option to Purchase clause under proposed new housing law
PETALING JAYA (May 13): The Real Estate and Housing Developers' Association (Rehda) Malaysia has expressed support for the proposed introduction of an “Option to Purchase” (OTP) clause under the new Real Property Development Act, which is expected to replace the current Housing Development (Control and Licensing) Act 1966 (Act 118).
