Parcel quit rent should be calculated based on market conditions, say stakeholders
PETALING JAYA (Nov 4): Key industry stakeholders have raised concerns over the high rates resulting from the introduction of parcel quit rent for stratified properties.
Menara Weld and The Weld Shopping Centre up for sale
KUALA LUMPUR (Nov 4): Great Eastern Life Assurance (M) Bhd, a unit of Singapore-listed Great Eastern Holdings Ltd, is calling for bids for the Menara Weld office building and The Weld Shopping Centre located within the Golden Triangle of Kuala Lumpur.
Different maintenance rates allowed for MC, so why not JMB, says BMAM and PPK
PETALING JAYA (Oct 24): The Court of Appeal’s ruling to disallow Joint Management Bodies (JMBs) to charge different rates of service fees for different components within mixed-use developments is based on a strict interpretation of the Strata Management Act 2013 (SMA) and the Strata Management (Maintenance and Management) Regulations 2015, said Building Management Association of Malaysia (BMAM) and the Malaysia Shopping Malls Association (PPK).
Guan Eng: Optimistic outlook for retail sector
PETALING JAYA (Sept 13): Outlook for shopping centres and the retail industry as a whole looks favourable this year on the back of the country's GDP growth beating expectations, said Finance Minister Lim Guan Eng (pictured).
WCT 2Q net profit drops 47% on lower engineering contribution
KUALA LUMPUR (Aug 27): WCT Holdings Bhd’s net profit dropped 47% to RM22.
DONE DEAL: Shopoffice, Megan Phoenix, Cheras, KL
Sold for: RM440,000 (RM308 psf) Concluded by: Terence Tih (017-668 2669, REN 01644) from Tech Real Estate Sdn Bhd When: February 2019 Noteworthy: ● Unit size: 1,430 sq ft ● Freehold mid floor office ● Fully furnished ● Two bathrooms ● A few minutes’ walk from MRT station and shopping mall Read also DONE DEAL: Condominium unit, Pavilion Hilltop Mont’Kiara, Kuala Lumpur DONE DEAL: Shopoffice at Arena Curve in Bayan Baru, Penang The 24-year-old Megan Phoenix in Cheras, Kuala Lumpur is a 3-block commercial strata development with 450 parking bays.
Hektar REIT says plan to double assets value on track
KUALA LUMPUR (April 16): Hektar Real Estate Investment Trust's (Hektar REIT) plan to double its assets value to RM2.
KIP Group to open four new malls over the next three years
SUNGAI BULOH (March 11): Property developer KIP Group will add four new shopping malls to its portfolio, bringing the total number to 12 over the next three years.
