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The 4.26 acre “Sutera Avenue” integrated development by Mah Sing Group Bhd, comprises retail, offices and serviced apartments. “The Residences” serviced apartments are set in three towers comprising 320 units, each priced at approximately RM800 per sq. ft. Located below the apartments is a two-storey mall, “Festive Avenue Retail”, with a pedestrian boulevard on the…

IKEA has announced that the 1.1 million sq. ft. “Toppen Shopping Centre” will be publically accessible in 3Q19. The 4-storey “Toppen Shopping Centre” will be integrated with IKEA Tebrau and linked to AEON Tebrau. To date, approximately 40% of retail space in “Toppen” (with a capacity of up to 300 tenants) is pre-leased with the…

Golden Land Bhd has received registrations in excess of 40% for its freehold industrial property project, Golden Gateway in Batu Kawan, since its launch in 4Q17. With a RM155 million gross development value, the 52 semi-detached and two detached properties are priced from RM2.8 million, The units are surrounded by a landscape of established heavy…

Valued at RM600 million, two freehold office buildings (“Menara Tulus” and Menara Ikhlas”) in Putrajaya fell into receivership after five years after their completion due to unsatisfactory occupancy rates and yields. “Menara Tulus” is held by TRW Boulevard Square Sdn Bhd and comprises two 10 storey and 15 storey towers, with a gross floor area…

Property prices in Malaysia continued to decline in 4Q17 as the market corrected itself amid a complex scenario of growing oversupply in certain segments and a prevailing lack of consumer affordability. One market index, which tracks the asking prices of residential properties in Malaysia, showed a decrease of 1.6% for 4Q17 compared with a 0.2%…

Perbadanan PR1MA Malaysia has reassured the public that it is developing homes according to market demand, despite concerns over an oversupply of homes in certain locations. Banks have exhibited their willingness to provide end-financing to potential home buyers but the challenge faced by PR1MA predominantly entails the mismatch in terms of the type of products…

Subsequent to a two-year delay, the Petaling Jaya Old Town bus terminal project is scheduled for completion in early April 2018. With a total estimated cost of RM4 million, the local authority has allocated RM500,000 for the installation of two escalators for the connecting pedestrian crossing. (The Star, 29/3/2018)

Malaysia has set the highest growth rate of all Airbnb markets in Asia with a 137% y-o-y growth in 2017, to record 1.5 million arrivals into the country. As at the end of 2017, Malaysia has approximately 31,900 Airbnb listings, which was 69% higher than 2016. The top five countries who largely utilised Airbnb facilities…

In 2017, average accommodation prices paid in six prominent travel destinations in Malaysia have increased by 4% to 19% y-o-y, in line with a global uptrend in 2016. According to the recent Hotel Price Index (HPI) from Hotels.com, significant increases were observed in prices paid in Malaysian ringgit for six top domestic destinations including: Langkawi…

Malaysia’s Eighth China Roadshow 2018, is anticipated to further amplify the efforts of the Malaysian Ministry of Tourism and Culture, to tap into the lucrative China outbound market with an extension into a new city, Chongqing. The campaign highlighted the unique features of five key destinations in Malaysia including Kuala Lumpur, Georgetown (Penang), Langkawi (Kedah),…

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