News about l

SINGAPORE (July 15): Manulife US REIT has secured mortgage loan facilities from Wells Fargo Bank and National Association Royal Bank of Canada for US$296 million (RM1.

KUALA LUMPUR (July 15): IOI Properties Group Bhd’s joint venture with Singapore-listed developer City Developments Ltd — South Beach Consortium Pte Ltd — recently announced its collaboration with Marriott International to launch the JW Marriott Hotel Singapore South Beach.

KUALA LUMPUR (July 15): Real estate investment trust (REIT) prices rose in early trades on Bursa Malaysia yesterday following Bank Negara Malaysia’s move to cut the overnight policy rate (OPR), but pared gains in the afternoon.

KUALA LUMPUR (July 15): Malaysian real estate investment trusts (REITs) may soon be able to buy vacant land and engage in property development activities if a new proposal by the Securities Commission Malaysia (SC) garners positive response.

Property sector (July 14) Maintain neutral: Bank Negara Malaysia (BNM) has cut its overnight policy rate by 25 basis points (bps) to 3%.

M-REIT sector Upgrade to overweight: Much to our surprise, Bank Negara Malaysia (BNM) cut the overnight policy rate (OPR) by 25 basis points to 3% and we believe this will continue to spur the market to move into yield assets, and Malaysian real estate investment trusts (M-REITs) are often the darling of equity investors during monetary easing due to their stability and high-yielding nature, despite the average yield being compressed to 6.

PETALING JAYA (July 15): Judges for the S P Setia Bhd and TheEdgeProperty.

PROPERTY auctioneers have noticed recently that more high-end properties (above RM1 million) are coming up for auction in the country, observes Property Auction House Sdn Bhd executive director Danny Loh.

Sold for: RM1.

KUALA LUMPUR (July 14): Amcorp Properties Bhd (AmProp) plans to invest in a portfolio of real estate development and value-added projects in Madrid and other cities in Spain.