KUALA LUMPUR (Oct 17): The Malaysia My Second Home (MM2H) programme post-pandemic has recorded 1,905 approved applications or 88% of the total 2,164 applications between November 2021 and end-September 2023. Meanwhile, the Premium Visa Programme (PVIP) saw 57 applications processed, where 28 have been approved while the remaining 29 have been recommended for approval, Tourism…
Read MoreKUALA LUMPUR (Oct 17): The first phase of Sime Darby Property Bhd’s final high-rise residential development in Ara Damansara — TRiARA Residences — has sold 216 out of 304 units launched on September 23, 2023. This amounts to RM225.9 million in bookings. The 5.6-acre development comprises three blocks of modern, multi-generational units. It will offer a total of 450…
Read MoreKUALA LUMPUR (Oct 13): Higher rental income helped IGB Real Estate Investment Trust (IGB REIT) record a 9.99% increase in net property income (NPI) to RM111.29 million for the third quarter ended Sept 30, 2023 (3QFY2023), from RM101.19 million a year earlier. The REIT, whose portfolio includes the Mid Valley Megamall and The Gardens Mall,…
Read MoreKUALA LUMPUR (Oct 16): Analysts maintained their “buy” calls on IGB Real Estate Investment Trust (REIT) after its quarterly net income came within expectations for the cumulative nine months ended Sept 30, 2023 (9MFY2023), translating into a 5.5% increase compared to a year ago. The earnings growth was mainly supported by higher tenant sales and…
Read MoreKUALA LUMPUR (Oct 16): King’s Park, a 150-acre (60.7-hectare) integrated mixed-use development in Genting Highlands, is set to open Asia’s largest Hard Rock hotel called Hard Rock Genting Highlands in 2027. King’s Park Development Sdn Bhd in a statement on Saturday said the 45-storey Hard Rock Genting Highlands will feature 371 rooms and 630 suites,…
Read MoreKUALA LUMPUR (Oct 16): Putrajaya’s 4% stamp duty on foreign buyers could offset the positive impact of a relaxation of conditions for the Malaysia My Second Home (MM2H) participants. According to a New Straits Times report, Maybank Investment Bank (IB) research noted that while a less stringent MM2H “should benefit the domestic property industry in…
Read MoreKUALA LUMPUR (Oct 14): NCT Alliance Bhd has echoed the government’s commitment to ensure the completion and delivery of homes to homeowners, executive chairman Datuk Seri Yap Ngan Choy said. Yap said this is following Prime Minister Datuk Seri Anwar Ibrahim’s announcement in addressing the pressing challenges posed by abandoned property projects in the nation…
Read MoreKUALA LUMPUR – The government has allocated RM2.47 billion to implement people’s housing project (PPR) next year, said Prime Minister Datuk Seri Anwar Ibrahim. Anwar, who is also the Finance Minister, said this included a special RM1 billion guarantee fund to encourage responsible developers to rebuild abandoned projects which have been identified. He said about…
Read MoreKUALA LUMPUR (Oct 12): Propel Global Bhd is to purchase two parcels of land in Kuala Kuantan, Pahang for RM14.7 million to undertake a commercial development project with a gross development value (GDV) of RM68 million. The construction firm said its wholly-owned subsidiary Propel Global Development Sdn Bhd has inked agreements with the vendor, Goldhill…
Read MoreKUALA LUMPUR (Oct 12): HIL Industries Bhd has proposed to acquire a company that owns land near the Shah Alam-Klang border that has been earmarked for residential development, in a related party transaction. The moulded plastic products maker and property developer said it is acquiring Broadwise Corporation Sdn Bhd (BCSB) via its wholly owned subsidiary,…
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