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KL’s office market sees capital values rise, more malls coming
PETALING JAYA (May 20): Capital values in Kuala Lumpur’s office market increased some 6% despite weaker rental rates that put yields under pressure, said analyst firm DTZ Research.
Magna Prima unit files claim for RM2.42 mil against PKNS
KUALA LUMPUR (May 20): A subsidiary of Magna Prima Bhd, Ibsul Development (Sel) Sdn Bhd, has filed a writ of summons and statement of claim against Selangor’s property development arm Perbadanan Kemajuan Negeri Selangor (PKNS), to claim special damages amounting to RM2.
WCT may defer REIT listing plan
KUALA LUMPUR (May 20): Builder-cum-property developer WCT Holdings Bhd, which had earlier planned to set up a RM2 billion real estate investment trust (REIT) this year, may postpone the exercise until 2016.
PROPERTY SNAPSHOT What are developments priced in KLCC?
• Based on transactions analysed by theedgeproperty.
MRCA launches its first MIRF
KUALA LUMPUR (May 19): The Malaysia Retail Chain Association (MRCA) launched its first Malaysia International Retail, Franchise and Licensing Fair (MIRF) today.
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DTZ: Strong investments in 1Q for KL, but uncertainties ahead
PETALING JAYA (May 19): Despite the depreciating ringgit against the US dollar in 1Q2015 and ongoing concerns on the impact of low oil prices on the Malaysian economy, the level of investment activity remained surprisingly strong for the quarter, according to DTZ Research’s “Property Times Kuala Lumpur Q1 2015: Cautious Sentiment Aggravates Uncertainties” report.
JW Marriott opens 11th hotel in China
SHANGHAI (May 19): JW Marriott Hotels & Resorts continues to expand its luxury portfolio in China through its 11th property – the JW Marriott Hotel Zhejiang Anji, which opened yesterday.
PROPERTY SNAPSHOT What’s affordable in KLCC?
• The prices of condominiums in the KLCC area reflect the prestige of living in the heart of the city.
Landmarks in JV to own two hotels in Treasure Bay Bintan
PETALING JAYA (May 19) – Landmarks Bhd, through its wholly-owned subsidiary PT Bintan Hotel Utama (PTBHU), yesterday entered into a joint-venture (JV) agreement with ML Hotel Investments Pte Ltd (ML Hotel) to develop, own and operate two global hotel chains, Mercure and ibis Budget, in Treasure Bay Bintan, Bintan Island, Indonesia.
Malton bags RM208 mil contract to build Royale Pavilion Hotel
KUALA LUMPUR (May 18): Property developer Malton Bhd announced that its wholly-owned unit Domain Resources Sdn Bhd has received a letter of award for a RM208 million worth of contract from Harmoni Perkasa Sdn Bhd to build one block of Royale Pavilion Hotel, which is located along Jalan Bukit Bukit Bintang and Jalan Raja Chulan.
