News about property

OSK said, in a filing with Bursa Malaysia on Monday, that it recorded stronger sales revenue for its power cable and industrialised building system (IBS) wall-panel manufacturing, driven by both local and export sales.

RM251 million gain on disposal of Malaysia Vision Valley land to Sime Darby Property Bhd.

Sime Darby Property reported a net profit of RM144.

The group's revenue for 3QFY2023 outperformed the preceding quarter by 52.

The group is now strategising on the use of its existing land bank with two new upcoming developments — one in Sentul, Kuala Lumpur and another in Shah Alam, Selangor — which will have an estimated gross development value (GDV) of about RM395 million.

DONE DEAL: Condominium unit, The Pearl, KLCC, Kuala Lumpur DONE DEAL: Shop, CBD Perdana, Cyberjaya, Selangor Nestled in the midst of a lush and upscale community is Idamansara, an exclusive retreat comprising a myriad of amenities.

Other developers on the Top 10 list were: Sunway Bhd — property division (No 2), S P Setia Bhd (joint No 3), Sime Darby Property Bhd (joint No 3), UOA Development Bhd (joint No 3), IOI Properties Group Bhd (No 4), IJM Land Bhd (No 5), Eco World Development Group Bhd (No 6), UEM Sunrise Bhd (No 7), Mah Sing Group Bhd (No 8), Matrix Concepts Holdings Bhd (No 9) and IGB Bhd (No 10).

Pointing to recent news on the possibility of a high-speed rail (HSR) project between Ipoh and Kuala Lumpur, MIDF said the project would improve demand for properties in Ipoh and concurrently benefit property developers that have exposure in the state.

How do we compare our building costs to those in neighbouring countries? Are Malaysian developers making excessive profits? Are they building the wrong products at unreasonably high prices to maximise profits, resulting in an excessive number of unsold houses, instead of building more affordable houses? Last week, we provided our data-based analysis that contradicts the prevailing myth that housing is generally unaffordable in Malaysia.

YNH said SSF & Co’s report commented that an analysis was carried out on 17 agreements entered into by Kar Sin, and they “do not appear on the face of it to be scams as alleged in various reports found on Facebook or the internet”.