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  • Property News

    BNM maintains OPR at 1.75% as global economy continues to improve

    Bank Negara Malaysia (BNM)’s Monetary Policy Committee has decided to maintain the overnight policy rate (OPR) at 1.75%, with the central bank citing the continued improvement in the global economy given the easing of containment measures across more economies and strong policy support. In its Monetary Policy Statement, the bank said the reopening of production…

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  • Property News

    Government to focus on home ownership for B40 and M40

    While reiterating that no vacancy tax will be imposed, Minister of Housing and Local Government (KPKT) Zuraida Kamaruddin stressed that the government’s priority will be to encourage homeownership among the B40 and M40 groups. She said the ministry has tapped various housing schemes to achieve the objective while mulling an extension of the Home Ownership…

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  • Property News

    Sunway REIT turns to more stable segments

    Sunway REIT has opted to go more into “segments that can give it more consistent revenue and income rather than be overly reliant on its core assets with their cyclical nature”, The Edge Malaysia reported in its latest issue. “We are trying to look at sunrise assets (assets in an industry that is growing fast)…

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  • Property News

    Axis REIT to buy Shah Alam warehouse for RM11.87 million

    Axis Real Estate Investment Trust (Axis REIT) has proposed to acquire a warehouse located in Shah Alam, Selangor, for RM11.87 million to strengthen its portfolio of industrial properties. In a filing with the bourse, the REIT said its trustee RHB Trustees Bhd has entered into a sale and purchase agreement with Melewar Steel Services Sdn…

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  • Property News

    Serenia Ariya phase 1 and 2 snapped up within three days

    All 202 units of Sime Darby Property’s latest launch – Serenia Ariya phase 1 and 2 were snapped up within three days since the official launch on August 29, 2020. Serenia Ariya is the fourth residential phase in Serenia City, a township dubbed the Garden City of KLIA. It offers Tudor-inspired double-storey linked homes with…

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  • Property News

    Paramount remains bullish on property sector outlook for 2H

    Paramount Corporation Bhd remains bullish on the property sector’s prospects in emerging markets, especially in Malaysia, for the second half of the year (H2 2020), despite the uncertainties due to the COVID-19 crisis. Group chief executive officer Jeffrey Chew Sun Teong said the property take-up rate is expected to recover in H2 2020 due to the…

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  • Property News

    Short-term rental via Airbnb versus long-term lease

    A nice property in a good tourism location, such as Penang for example, is an excellent Airbnb candidate. With the exemptions on stamp duty and minimum 10% discounts for residential properties under the Home Ownership Campaign, now is a better time than ever to purchase a house. But for those planning to purchase a house…

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  • Property News

    OIB Group launches Irina by Myra in Puncak Alam

    Property developer Oriental Interest Bhd (OIB Group) has unveiled Irina by Myra Rumah Selangorku project in Puncak Alam. Built on a 4.3-acre land with a total estimated gross development value (GDV) of RM66.92 million, Irina comprises 394 units with built-ups ranging from 750 sq ft to 1,000 sq ft. The project is expected to be…

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  • Property News

    Sime Darby Property targets RM1.4b in sales for FY2020

    Sime Darby Property is setting a lower sales target of RM1.4 billion for financial year 2020 ending Dec 31, 2020 owing to the Covid-19 pandemic. During the 2Q2020 financial results media briefing here today, Sime Darby Property group managing director Datuk Azmir Merican (pictured) said that he expects the group’s total sales to be 30%…

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  • Property News

    Matrix Concepts records 9.3% higher new property sales

    Matrix Concepts Holdings Bhd’s revenue for the first quarter of its financial year ended June 30, 2020 (1Q21) stood at RM162 million, as compared to RM248.5 million a year ago; while net profit dipped to RM31.1 million, versus RM54.5 million previously. In a press statement today, the property developer said this was attributed mainly to…

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