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…
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…
Read MoreA 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…
Read MoreProperty 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…
Read MoreSime 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%…
Read MoreMatrix 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…
Read MoreThe Malaysian Institute of Professional Estate Agents and Consultants (MIPEAC) says it believes the proposed implementation of a vacancy tax is untimely during the current weak property market as it may further erode the sector and the economy. “MIPEAC deems such a legislation ineffective to solve the overhang issue,” the institute said in a statement…
Read MoreThe rapid increases in property prices in the country suggest that the number of Malaysians able to afford homes may have decreased, as the household median income rate has not doubled over the past years, says MyProperty Data Sdn Bhd. It said its analysis revealed that houses priced at RM300,000 and below recorded in the…
Read MoreThe proposed vacancy tax slated for next year would be seen as a positive move by the government as it inculcates planning in housing development, said iProperty.com.my, a unit under REA Group Asia. REA Group Asia customer data solutions general manager Premendran Pathmanathan said it is a matter of time before the government implements it, as there…
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