PROPERTY SNAPSHOT What are developments priced at in Setapak?
Today, we continue our focus on Kuala Lumpur’s Setapak area by looking at average prices on a per square foot (psf) basis.
UEM Sunrise to sell Imperia Building to parent for RM137.8m cash
KUALA LUMPUR (June 30): Property developer UEM Sunrise Bhd announced that its wholly-owned unit UEM Land Bhd and Bandar Nusajaya Development Sdn Bhd (BND) has signed a sale and purchase agreement with its major shareholder UEM Group Bhd to dispose of Imperia Building in Iskandar Malaysia, Johor, for RM137.
Tadmax: Valuation of Pulau Indah land sale to 1MDB not subject to SC approval
KUALA LUMPUR (June 30): Tadmax Resources Bhd clarified today that the valuation of its Pulau Indah land for sale to 1Malaysia Development Bhd (1MDB) was not subject to approval by the Securities Commission Malaysia (SC).
1MDB's Bandar Malaysia eyes consortiums, construction to start as early as 2017
KUALA LUMPUR (June 30): The scale of 1Malaysia Development Bhd's (1MDB) Bandar Malaysia mixed-use development here may require the combined expertise and financial strength of consortiums to ensure its success.
Sime Darby, PDC, sign major development deal
Government-linked corporation Sime Darby and the Penang Development Corporation (PDC) have signed a memorandum of understanding (MoU) to develop Changkat and Byram in Nibong Tebal, southern Seberang Prai, Penang.
Mara spent RM375 million on four Melbourne properties, says NGO
Majlis Amanah Rakyat (Mara)'s investment arm, Mara Inc, spent a total of RM375.
Matrix Concepts sees new property ruling to boosts GDV
PETALING JAYA: Matrix Concepts Holdings Bhd said the Negeri Sembilan government’s move to change its affordable housing policy and bumiputera quota will enable a project’s gross development value (GDV) to increase, in a report by The Edge Malaysia (June 29 – July 5 2015 issue), “The people will ultimately benefit as there will be more affordable housing, while developers can still make a profit,” Matrix Concepts founder and group managing director Datuk Lee Tian Hock told the weekly.
Acmar’s hotel rescheduled to be completed next year
KLANG (JUNE 30): The construction of the much anticipated five-star hotel, Acmar Hotel and Residence in Klang, Selangor, has hit regulatory snags and its completion is expected to be delayed by at least three months to first quarter of next year, said Acmar International Group.
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PROPERTY SNAPSHOT What’s affordable in Setapak?
With the advantage of being close to the city centre, Setapak has witnessed the development of many condominiums.
Scientex buys land in JB for RM219 million cash
SHAH ALAM (June 29): Packaging manufacturer Scientex Bhd, which is also involved in property development, intends to buy 326 acres of freehold tract in Pulai, Johor Bahru, for RM219 million cash to expand its land bank.
