+603-21612522        

KUB Malaysia Bhd is buying an oil palm plantation in Kinabatangan, Sabah, from Kwantas Corp Bhd for RM100.45 million to expand its oil palm business. KUB’s unit, KUB Malua Plantation Sdn Bhd, entered into a conditional sale and purchase agreement with Kwantas’ wholly owned subsidiary, Kwantas Plantations Sdn Bhd, for the proposed acquisition. (The Star,…

Eastern & Oriental Bhd (E&O) recorded an 87% sales rate for phase 2 of its Ariza Seafront Terraces comprising 35 units of landed homes in Seri Tanjung Pinang (STP), Penang. The project was launched on March 23, 2017. The 2.5 storey, freehold Ariza Seafront Terraced homes are among the final landed homes to be launched…

Astaka Holdings Ltd unveiled show units for its new development in Pengerang, Johor, where over RM30.8 billion of investment has been announced by Saudi state oil company Saudi Aramco. Astaka is displaying terraced house show units for its 363 acre Bukit Pelali strata township, which is a gateway to the mega Pengerang Integrated Petroleum Complex…

The Iskandar Regional Development Authority has estimated that by 2025, the population in Iskandar Malaysia will increase to 3 million and at least 1.2 million housing units, including strata and landed properties, are needed. The population in Iskandar Malaysia is now 1.8 million but there are less than 700,000 housing units. The growth corridor’s population…

Paradigm Mall JB is set to open in November 2017. Located on a 13 acre freehold site in Johor Bahru, the mall is part of a RM1.5 billion integrated development by WCT Holdings Bhd (WCT) that will include a proposed 296 room hotel and a 24 storey serviced apartment. The mall is about 90% completed…

Global petrochemical company Lotte Chemical Corp has committed to invest US$450 million (RM1.98 billion) to expand its operations in Johor on top of its US$2 billion for its Tanjung Langsat and Pasir Gudang plants. The investment is meant to expand their plants and improve its production capacity from three million tonnes of chemicals now by…

The Malaysian investment mission to the Chinese financial capital of Shanghai has been deemed a success, with several lucrative investments firmed up, including a plan to build a RM15 billion industrial robotics hub in Johor and a pilot project to convert domestic waste to energy in Pasir Gudang. China was keen to continue investing in…

According to a survey conducted by the Real Estate and Developers’ Association Malaysia (Rehda), 55% of the 165 members of Rehda who responded to the survey planned to launch projects in 1H17. They plan to launch 21,899 property units, up 60% from those launched in 2H16. The bulk of the projects planned are residential with…

The percentage of property ownership by foreigners in the country has declined since the government set a minimum RM1 million as property prices for foreigners in 2014. The percentage of transfers to foreigners for various property sectors was also less than 2%, indicating that opportunities for locals to own houses are still not affected. The…

Golf legend Jack Nicklaus will be designing one of three Country Garden Holdings Co Ltd’s (CGH) golf courses to be built in Johor. The three 18 hole golf courses, a hotel and infrastructure will cost the developer RM1.2 billion and will involve a total land area of about 2,000 acres. The first golf course, located…

RICS

All rights reserved (C) 2016

Jones Lang Wootton