IGB attributed the earnings growth to higher rental income in both its retail and commercial property segments, improved hotel occupancy and room rates, as well as stronger sales of completed residential units at Southpoint Residences in Mid Valley City, Kuala Lumpur.
Chin Hin Group said it aims to develop a housing project on the land with an estimated gross development cost of RM448 million.
The upswing similarly boosted Batu Kawan Bhd (KL:BKAWAN), KLK’s 47.
The Mulia Residence, Selangor terrace house sold for RM1.
Projected to have a GDV of approximately RM121.
For the first nine months, the company racked up net profit of RM281.
Overall, the property development segment’s contribution was up 25.
The wholly owned unit, Kerjaya Prospek (M) Sdn Bhd, received and accepted the letter of award from Pixel Valley, which is fully owned by Kerjaya Prospek Property Bhd (KPPB), in which certain directors and shareholders hold direct and indirect interest.
Rising project costs were a recurring theme, with several noting that higher electricity tariffs, operational expenses, labour constraints, and utility charges could erode Malaysia’s competitiveness against regional markets such as Vietnam and Indonesia.
AEON STYLE Supermarket will occupy 20,408 sq ft at Setia EcoHill Walk.
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