Desa ParkCity is designed according to the New Urbanism concept. (Desaparkcity.com) Desa ParkCity is a sought-after developing township. It is built on a previously barren mine site just south of Bandar Manjalara in Kepong and north of Kampung Penchala and Taman Tun Dr Ismail. ParkCity Group, a subsidiary of Miri-based Samling Group, acquired the 191ha…
Read MoreBank Negara Malaysia (BNM) has decided to maintain the Overnight Policy Rate (OPR) at 1.75% today as the country’s economic activity is projected to improve further and as the central bank expects the nation’s underlying inflation to remain subdued as the world economy contends with the resurgence in Covid-19 cases. In a statement today, BNM…
Read MoreProperty experts say the drop in property prices will likely be limited to new launches of affordable units. Property prices in Malaysia, particularly the primary market, are likely to be sluggish following the Covid-19 pandemic. In the post-moratorium context, questions are being asked as to whether this will be the result of developers marking down…
Read MoreProperty market activity has actually been on an upward trend since the Recovery Movement Control Order was implemented. The secondary, or sub-sale, property market is expected to remain steady despite the soft economic conditions. But there is concern among homebuyers and investors that property prices and activity will be subdued in both the primary and…
Read MoreBank 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…
Read MoreWhile 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…
Read MoreSunway 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)…
Read MoreAxis 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…
Read MoreAll 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…
Read MoreParamount 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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