News about property

Overhang properties is mainly due to unmet housing demand related to varying economic climates, housing preferences, market sentiment, housing affordability, credit accessibility, as well as demographics and lifestyle changes.

JLL Malaysia logistics and industrial team member Derek Yap said warehouse absorption in Greater Kuala Lumpur remained robust last year, as demonstrated by the strong pre-commitment level from occupiers.

Separately, the company announced last Friday that no professional firm had been appointed for an independent review of its joint venture (JV) and turnkey construction agreements.

KLCCP said it has entered into a share purchase agreement with Ocmador (Malaysia) City Retail Centre Sdn Bhd, Port Moresby Investments Ltd and Bold Peak Sdn Bhd for the proposed acquisition.

In a sector update on Friday, the research house said that if the government decides to proceed with the Johor Light Rail Transit (LRT) and Kuala Lumpur-Singapore High-Speed Rail (HSR) projects, it could boost demand for residential, commercial and industrial properties in Iskandar Malaysia in the coming years, leading to an increase in prices for strategically located parcels of land.

In a company update note on Friday, the research house expressed pleasant surprise at this development, considering it as yet another effort by SimeProp to activate its non-core land bank.

Sime Darby Property’s group managing director Datuk Azmir Merican said the partnership will serve as a vehicle to commercially develop affordable homes to provide greater access to homeownership for a wide range of customers.

YNH, however, did not reveal the indicative price range or materiality of the disposal, though Bursa had, in its request for more information issued on Jan 19, also asked for that, besides the indicative timeline to finalise the disposals, current stage of negotiation, and identity of the property or properties, including location and land size.

Some of the brands are Jaya Grocer, Harvey Norman, The Coffee Bean & Tea Leaf, Nak Nak, Inside Scoop, Kenny Hills Bakers, Jibby & Co, Chica Bonita, Sushi Zanmai, Para Thai, Super Saigon, Dolly Dim Sum, Watsons, Toys“R”Us, Twigs Bookshop, Lavender Bakery, Nyonya Colors, Ali, Muthu & Ah Hock, The Bike Artisan, Pets Wonderland and Happy Fish.

“Landed residential is Sime Darby Property’s forte.