This is because the 35-year-old building is deemed to be well maintained while having a strategic prime location in the city centre and potentially competitive rental rate if office space supply remains abundant two years down the road, according to experts in the property sector.
Westlite currently has workers' accommodation in Johor, Penang and Selangor with a total of 25,099 beds as of June 30 KUALA LUMPUR (Sept 14): Westlite Accommodation Malaysia aspires to expand its operations in Malaysia, said Centurion Corp Ltd chief executive officer Kong Chee Min in a media briefing on Tuesday (Sept 13).
Loss is partly due to fewer handovers of properties sold in Australia in the current quarter.
According to an MACC source, the trio were arrested on suspicion of bribery in order to obtain approval for an application to own approximately two hectares of government land in the Kinta district.
Plenitude also announced that its new housing project launches in Johor and Kedah for the financial year ending June 2023 “carries a gross development value (GDV) of RM508.
Property market showed signs of recovery in 1H, but office and retail sectors face challenges — Napic
Napic said the overall overhang situation improved in 1H2022, down by 7.
“If Pasir Gudang becomes a district of its own, we can shift some development into the area, which is currently more focused in Johor Bahru.
“Interest rate hikes do not seem to have a significant impact on new home sales”.
The department store operating on the properties has been suffering losses due to the weakening spending power of local residents as well as the adverse effects of Covid-19 mitigation policies on the retail business.