News about properties

The proposed IPO involves a public issue of 67.

TA Securities and Hong Leong Investment Bank (HLIB) said the net gearing of IOI Properties would substantially rise to 0.

Shenton House covers 3,377 sq m and is designated for commercial use with a gross plot ratio (GPR) of 11.

Looking to the final quarter of the financial year, IOI Properties said the group is optimistic of a satisfactory performance, adding that its property development segment in the Klang Valley is poised to improve with a strong pipeline of launches while its Johor projects are well-capitalised on various proposed initiatives taking shape in the state.

The exchange has also asked the company to explain the unusual market activity following the sharp decline in its share price.

Local media reported on Tuesday that a managing director of a real estate company was remanded by the anti-graft body for four days to assist in an investigation concerning the subdivision of Malay reserve land in Manjung, Perak.

The company has yet to announce Melissa Tan Swee Peng’s replacement.

The restraining order, which will last for a period of three months from April 19, 2024, is to enable Ivory Gleneary Sdn Bhd (IGSB), a wholly-owned subsidiary of Ivory Properties, and its creditors to formalise the proposed scheme of arrangement and thus allow for the extension of time to submit the company's regularisation plan in order to get out of the PN17 status.

UOB KayHian said that based on 2023 National Property Information Centre data, 53% of residential transactions in Malaysia involved houses priced at less than RM300,000, with Perak, Selangor, Johor, Kedah and Pahang being the key contributors.

Spanning 117 acres in southern Klang Valley, the 12-phase Senna Puteri will be developed over the next 10 years, offering residential, commercial, recreational areas, green spaces, community hall, surau and more.