Week 21 - 2026
MALAYSIA'S 1Q26 GDP COMES IN AT 5.4%
The Edge, The Star, The Sun & NST, 16/05/2026
Malaysia's gross domestic product (GDP) grew at a slightly faster-than-anticipated rate of 5.4% in the 1Q26, as economic growth moderated from 6.2% in 1Q25. While most major sectors remained on an expansionary path, the pace of growth eased following the strong performance in the preceding quarter.
INFLATION HITS 18-MONTH HIGH OF 1.9% IN APRIL 2026
The Star, The Edge & NST, 20/05/2026
Malaysia’s inflation climbed to 1.9% in April 2026, its highest reading in 18 months, driven largely by increases in transport prices amid fuel cost pressures tied to the Middle East conflict. The country’s consumer price index (CPI) increased to 136.9 from 134.3 in April 2025, according to the Statistics Department. Inflation in March 2026 stood at 1.7%. Transport inflation surged from 1.6% in March 2026 to 4.1% in April 2026. Alcoholic beverages and tobacco (2.7% to 2.8% from March 2026 to April 2026), information and communication (1.4% to 2%), food and beverages (1.1% to 1.2%), and furnishings, household equipment and routine household maintenance (0.1% to 0.4%).
SUNWAY PROPERTY BEGINS RM100 MILLION TRAFFIC UPGRADING WORKS AT PERSIARAN KEWAJIPAN ROUNDABOUT
The Edge, 21/05/2026
Sunway Property is spending an estimated total investment in excess of RM100 million for traffic improvement and upgrading works which have commenced at the Persiaran Kewajipan roundabout in Subang Jaya. The infrastructure upgrading works are slated for completion by 4Q26. The project is being undertaken in collaboration with Majlis Bandaraya Subang Jaya (MBSJ) to support smoother traffic movement and connectivity across Bandar Sunway, Subang Jaya, and the USJ corridor. Developed in consultation with traffic specialists and in coordination with MBSJ, the improvements are intended to support smoother traffic flow and safer movement for daily road users. The scope of the upgrading works encompasses the installation of three AI-powered smart traffic lights to regulate roundabout inflow and optimise vehicle movement. The infrastructure upgrading works will also feature route reconfigurations, including redirecting traffic travelling from the SS15 direction towards Bandar Sunway via a U-turn movement after the Sri Kuala Lumpur School. Additionally, Sunway Property will modify and enhance two existing U-turn points to improve overall traffic flow and carry out lane widening to reduce bottlenecks for vehicles turning from the Bandar Sunway direction towards USJ Taipan.
KVDT2 RAIL PROJECT SET FOR EARLY COMPLETION IN 2027
The Star, 21/05/2026
The Klang Valley Double Track Phase 2 (KVDT2) upgrading project is expected to be completed in 2027, two years ahead of its original schedule. The project involves 265km of double-track railway infrastructure, covering the Salak Selatan-Seremban and Abdullah Hukum-Pelabuhan Klang routes. The upgrades would allow the railway system to support heavier axle loads of 20 tonnes, compared with the current 16-tonne limit, in line with the government’s road-to-rail initiative.
LSH CAPITAL GETS RM197.9 MILLION LAND OFFER FROM RAILWAY ASSETS CORP FOR 17.4 ACRES PEKAN COUNTRY HEIGHT PROJECT
The Edge, 16/05/2026
Lim Seong Hai Capital Bhd (LSH) has received an offer from Railway Assets Corp (RAC) to purchase two land parcels measuring 17.4 acres in Pekan Country Height, Selangor, for RM197.9 million. The offer follows LSH Capital’s earlier proposal to develop the land in response to a request for proposal from RAC. Details of the planned development were not disclosed.
S P SETIA INTRODUCES CASA D’ARCADIA IN ALAM IMPIAN
The Edge, 18/05/2026
S P Setia has unveiled Casa D’Arcadia at its Alam Impian, Shah Alam township in 1Q26. With a gross development value (GDV) of RM121.5 million, the 51-acre project will comprise 172 units, namely 118 semi-detached homes and 54 bungalows, to be rolled out in phases. The first phase consists of 40 semi-detached units — 12 two-storey units with built-ups of 3,345 to 3,347 sq. ft. and 28 three-storey homes with built-ups of 4,280 to 4,393 sq. ft. Indicative prices range from RM2.25 million to RM3.6 million. The three-storey semi-detached units are equipped with private lifts, while all homes have electric vehicle charging points, solar panels, parcel compartments, smart home systems and rainwater harvesting systems. The targeted completion date for the semi-detached units is December 2028.
MALTON LAUNCHES FINAL PHASE OF THE HILL RESIDENCES IN SEREMBAN WITH SEMI-DETACHED LUXURY HOMES
The Edge, Starproperty.com.my, 20/05/2026
Malton Bhd has officially launched Phase 2, the final phase of The Hill Residences, by opening its sales gallery and an on-site show unit. The development in Seremban town centre covering six acres with a gross development value of RM63 million features a low-density concept comprising 56 exclusive, gated-and-guarded semi-detached luxury homes surrounded by greenery. The project features multiple layout configurations designed to support multi-generational living, with built-up sizes ranging from 2,329 to 4,269 sq. ft. that offer four- and five-bedroom configurations with prices starting from RM865,000. The final phase follows the successful completion and sale of all 24 semi-detached homes in Phase 1 of the development. Residents of Phase 2 will have immediate access to lifestyle amenities built on the clubhouse facilities from Phase 1, which include a multipurpose hall, a gymnasium, an indoor play area, a swimming pool, and a playground. Outdoor facilities at the development comprise basketball and pickleball courts alongside landscaped areas.
OSK ACQUIRES KEDAH LAND FOR RM41 MILLION
The Star, 22/05/2026
OSK Holdings Bhd has entered an agreement to acquire a freehold land parcel measuring approximately 98.33 acres in Bandar Sungai Petani, Kedah, from SP Baiduri Sdn Bhd for RM40.69 million. The acquisition marks a strategic step in strengthening our presence in Sungai Petani and advancing our long-term growth plans in Kedah. The proposed development is envisioned as a large-scale township comprising double-storey terrace homes, townhouses and apartments, with an estimated gross development value of RM489 million.
KERJAYA PROSPEK SECURES RM174.2 MILLION JOB FROM IJM LAND TO BUILD SERVICED APARTMENTS IN SEREMBAN
The Edge, The Star & The Sun, 20/05/2026
Kerjaya Prospek Group Bhd has won a contract worth RM174.2 million from IJM Land Bhd’s subsidiary to build a high-rise residential development in Seremban, Negeri Sembilan. The letter of award was granted to its wholly owned unit, Kerjaya Prospek (M) Sdn Bhd, by RB Land Sdn Bhd. Under the agreement, Kerjaya’s unit will be responsible for the main building works of a 44-storey serviced apartment block that comprises 778 apartment units, 15 retail lots, private offices, levelled parking, and facilities, among others. Works are expected to start on 1st June 2026 and are expected to be completed within 35 months.
THE ATERA’S SECOND TOWER LUMEO @ THE ATERA UNVEILS AFTER FIRST TOWER SOLD OUT
The Edge, 19/05/2026
Driven by strong demand for high-rise living and seamless urban connectivity in Petaling Jaya, Paramount Property has launched the second residential tower of Lumeo @ The Atera following the full sell-out of the project’s first tower, which was launched in 2023. Lumeo @ The Atera offers direct connectivity to the Asia Jaya LRT station via a covered walkway located approximately 400 metres away. Spanning about 9.66 acres, the integrated development comprises three residential towers under a single masterplan. The first tower consists of 676 units, while the newly launched second tower features 788 units across 52 storeys. The third tower is expected to be launched by the end of 2026 or early 2027. Unit sizes range from 775 sq. ft. to 1,420 sq. ft., catering to various lifestyle and household needs. Each unit is also fitted with smart home features, allowing residents to conveniently control lighting, fans and air-conditioning through a mobile application.
VIZIONE SECURES RM65.6 MILLION JOB FOR SENTUL PROJECT
The Edge & The Star, 20/05/2026
Vizione Holdings Bhd’s wholly owned subsidiary, Bina Permai Sdn Bhd, has secured a RM65.62 million contract for main building works on a residential development project in Sentul, Kuala Lumpur. The contract was awarded by Bina Asia Sdn Bhd, and Bina Permai will act as the main contractor for the project. The development involves a 30-storey residential apartment block comprising 322 units, including Residensi Wilayah (RUMAWIP) and Perumahan Penjawat Awam Malaysia (PPAM) units. The project also includes recreational facilities, multi-level parking, security facilities, and electrical infrastructure. The project is expected to be completed within 24 months from the commencement date, subject to confirmation by the project architect.
L&G LAUNCHES DAMANSARA LAVERRA TO STRONG MARKET RESPONSE
Starproperty.com.my, 20/05/2026
Land & General Bhd (L&G) has officially unveiled Damansara Laverra, a RM752 million freehold high-rise residential development within its established Bandar Sri Damansara. The launch event was held at The Flo Sales Gallery and saw strong crowd attendance. Located just 500m from Sri Damansara West MRT station, Damansara Laverra features two towers with 1,008 residential units on a 2.84-acre freehold site. Amenities include a 50m lap pool, water cascade and the Camping by the Sky area within the 5.21-acre Senses Park. Close to commercial hubs like The Flo and Ativo Plaza, it offers the perfect blend of convenience and lifestyle.
S P SETIA OPENS REGISTRATION FOR RM82 MILION COMMERCIAL HUB IN KAJANG
The Edge, 20/05/2026
S P Setia Bhd has opened registration for Impiana, its newest freehold commercial offering in the 775-acre Setia Alamsari township in Kajang. The commercial development has a gross development value of RM82 million and features 29 exclusive double and triple-storey terrace and semi-detached shoplots. Scheduled for launch in July 2026, the shoplots are set on 22ft by 80ft plots and are strategically located with prime frontage along Jalan Bangi Lama, which serves as a major traffic corridor connecting Semenyih, Bandar Seri Putra and the North-South Expressway. The double-storey units range from 3,436 to 4,941 sq. ft. with prices starting from RM2.2 million, while the triple-storey units provide built-up areas of up to 9,064 sq. ft. with prices starting from RM4.8 million.
SETIA AWAN PARTNERS RETAIL BRANDS FOR UPCOMING AVENUE F MALL IN BUKIT AMPANG PERMAI
The Edge, 22/05/2026
Setia Awan has entered into a memorandum of understanding with a group of retail and lifestyle partners for its upcoming commercial development, Avenue F, in Bukit Ampang Permai, Ampang The strategic collaboration involves seven prominent brands across the grocery, healthcare, and culinary sectors, including B Grocer, Haji Basheer, CU Malaysia, Little Salty Café, Malaysia Chicken Rice (MCR), and Alpro Pharmacy. The upcoming Avenue F development, which will be the first neighbourhood mall in Bukit Ampang Permai, is targeted for completion by 3Q27.
In line with its growth strategy, Setia Awan also recently signed an agreement with Billion Group for its two Melaka projects, with plans to extend similar collaborations into upcoming developments across the Klang Valley, including Selayang, Shah Alam, and Tanjong Malim.
MATRIX CONCEPTS SELLS MVV CITY INDUSTRIAL LAND TO GOLOG FOR COLD CHAIN INFRASTRUCTURE EXPANSION
The Edge & NST, 21/05/2026
Matrix Concepts Holdings Bhd has concluded an industrial land sale to Golog Holdings Sdn Bhd to incorporate cold chain infrastructure into its MVV City development within the Malaysia Vision Valley 2.0 corridor. The infrastructure transaction follows a prior memorandum of understanding executed by Golog to develop 618 acres of industrial land across three phases, carrying an estimated gross development value of RM8 billion. The collaboration was due to the efforts by the master developer to invite strategic industrial and logistics entities to establish their presence within the region. Golog intends to utilise the acquired property to introduce temperature-controlled storage, warehousing and distribution capabilities. The upcoming facilities will cater directly to rising market demand across food processing, pharmaceuticals, e-commerce, logistics and import-export trade. The operational expansion aligns with broader regional connectivity via the China-Malaysia Air Silk Road Dual Hub Industrial Park Cooperation Project, leveraging strategic partnerships with China Henan Aviation Group Co Ltd and Sichuan Huashi Group Corp Limited. MVV City is a 2,382-acre integrated development jointly driven by Matrix Concepts Holdings Bhd and the Negeri Sembilan State Government through NS Corp, targeting a gross development value of RM15 billion over the next 12 years.
SCANWOLF WINS RM11 MILLION FACTORY JOB
The Star, 22/05/2026
Scanwolf Corp Bhd has accepted a contract from Ipmuda Construction and Engineering Sdn Bhd for works to a Semi-D factory in Hulu Langat, Selangor worth RM11.46 million. The scope of works comprises the design, fabrication and supply of SIS deck to a Semi-D factory (Type A, B and C); as well as the dDesign, supply and installation of post-tensioning work to a Semi-D factory (Type A, B and C). The contract shall commence on 21st May 2026 and is scheduled for completion on 9th October 2026.
EXSIM HOSPITALITY SECURES RM45 MILLION SUMMIT HOTEL USJ REVAMP JOB
The Edge & The Star, 21/05/2026
EXSIM Hospitality Bhd has secured a RM45 million contract from AmFIRST Real Estate Investment Trust (AmFIRST REIT) to refurbish Summit Hotel USJ in UEP Subang Jaya, Selangor, into a 17-storey hotel with three basement levels. The contract was awarded via EXSIM Hospitality’s wholly owned unit EXSIM Concepto Sdn Bhd, which accepted a Letter of Award from Maybank Trustees Bhd, acting as trustee for AmFIRST REIT. Summit Hotel Subang USJ currently operates as a four-star property with 332 rooms. The refurbishment project will be carried out in three phases, with works scheduled to begin on 22nd May 2026 and targeted for completion by 31st December 2026.
HILTON SHAH ALAM GLENMARIE POSITIONS ITSELF AS KLANG VALLEY’S PREMIER URBAN RESORT
The Edge, 22/05/2026
The former Glenmarie Hotel & Golf Resort has rebranded as the Hilton Shah Alam Glenmarie, having officially reopened under new management on 1st March 2026. The hotel has been repositioned to capture the MICE (Meetings, Incentives, Conferences and Exhibitions) segment, alongside corporate and family leisure travellers following expansions of their event space offerings. The 261-key hotel features standard, deluxe rooms with golf course views and premium executive rooms with duplex and balcony options. Connecting configurations for family and business groups are offered for 34 of these rooms. MICE offerings have been expanded with the addition of the Cullinan Event Hall, which features enhanced natural daylight and golf course views with 13 flexible seminar rooms. The hotel’s total event space now comprises two ballrooms including a primary 5,985 sq.ft. hall, mid-sized ballrooms, meeting rooms and boardroom-style spaces.
Other upcoming developments planned under Hilton include the Hilton Burau Bay Resort Langkawi, Hilton Garden Inn Kota Kinabalu Tuaran, alongside developments under the Hilton Luxury Portfolio such as Conrad Kuala Lumpur and Waldorf Astoria Kuala Lumpur, the latter of which is expected to launch in October 2026.
SOUTHERN SCORE UNIT SECURES RM47.52 MILLION DATA CENTRE SUBCONTRACT
The Edge & The Star, 19/05/2026
Southern Score Builders Bhd has secured a subcontract worth RM47.52 million for infrastructure work on a data centre project. SJEE Engineering Sdn Bhd accepted the letter of award from an undisclosed local construction company for the supply, installation, testing and commissioning of electrical, extra low voltage, telecommunication and security works. The job commenced on 7th May 2026 and is expected to be completed by 11th March 2027.
RM300,000 HOMES PILE UP UNSOLD AS MALAYSIA FACES "AFFORDABLE HOUSING PARADOX"
(NST, 16/05/2026)
Malaysia's "affordable housing" segment is facing a sharp contradiction, according to data from the National Property Information Centre (NAPIC), highlighting a growing disconnect in the property market. Despite sustained demand for homes priced below RM300,000 were completed units remain unsold, exposing what experts are calling a structural affordability and demand mismatch in the country's property market. According to NAPIC, 14,201 completed residential units worth RM2.77 billion remained unsold as of 1Q26, accounting for 43% of Malaysia's total property overhang, the majority of which are located in the Klang Valley, Johor and Perak. Developers are also under pressure over product quality, with many so-called affordable homes criticised for very small built-up areas, inefficient layouts, poor design, limited parking, weak workmanship and insufficient amenities.
ONLY 5% OF GOVERNMENT PROJECTS CATEGORISED AS ‘SICK’
The Edge, 20/05/2026
Only 44 projects or 5.2% of the total 851 government projects currently under construction are categorised as sick projects, said Deputy Minister of Works. Of the total, the majority of delays were due to weaknesses of contractors, particularly in terms of scheduling, planning and cash flow. Of the 851 ongoing projects, 241 projects or 28% are at the early stages of the schedule while 213 projects or 25% are on schedule. Only 44 projects are sick or 5.2%. The total value of the 851 projects currently under construction was RM49.5 billion, while 351 projects worth RM15.48 billion had been completed and are now in the defect liability period (DLP).
UDA HOLDINGS LAUNCHES SUSTAINABLE RESIDENSI MUTIARA DEVELOPMENT TARGETING MALAYSIANS WORKING IN SINGAPORE
The Edge & NST, 21/05/2026
UDA Holdings Bhd launched its latest residential housing project, Residensi Mutiara, in Johor Bahru to boost property ownership within the state. The freehold project, which comprises 50 units, is designed to cater to young families and professionals, making it an ideal choice for Malaysian citizens working in Singapore. The development features sustainable living elements in line with the Sustainable Development Goals, including solar streetlights, solar photovoltaic systems, rainwater harvesting tanks, and water-efficient fittings. The project offers two-storey townhouses with three bedrooms and two bathrooms, alongside three-storey townhouses with three bedrooms and four bathrooms, with built-up areas ranging from 1,259 to 3,627 sq. ft. Prices for the gated-and-guarded development start from RM548,700, and the project is expected to be completed in June 2029. To assist buyers, the developer is offering incentives such as a down payment as low as RM1,000 or 2%, waivers on legal fees and stamp duty, and flexible payment schemes.
VILLAGE GROCER OPENS AT SKS CITY MALL JBCC NEAR SINGAPORE CIQ CHECKPOINT
The Edge, 22/05/2026
Premium supermarket chain Village Grocer has expanded its retail footprint to the Johor Bahru City Centre with the official opening of its new store on the lower ground floor of SKS City Mall JBCC. The new outlet is strategically located beneath the five-star Sheraton Johor Bahru and sits just minutes away from the Singapore CIQ checkpoint to target local residents, daily commuters, and cross-border visitors.
IKANO CENTRES PARTNERS WELTON GROUP ON RM600 MILLION MIXED-USE DEVELOPMENT AT IKEA TEBRAU–TOPPEN PRECINCT
The Edge, 20/05/2026
Ikano Centres has signed a development agreement with Welton Group of Companies for Habitation Plus+, a mixed-use residential project with an estimated gross development value of RM600 million to be built within the existing IKEA Tebrau and Toppen Shopping Centre precinct in Johor Bahru (JB). The development will comprise two residential towers with approximately 1,230 units targeting the affordable to mid-range segment, planned on land with available capacity within the Toppen Shopping Centre site.
The project marks Ikano Centres' expansion beyond retail into integrated residential development. The group acquired the Tebrau land in 2008, opening IKEA Tebrau in 2017 and Toppen Shopping Centre in 2019. Since then, it has expanded Toppen by an additional 100,000 sq. ft. of gross leasable area, introduced JB's first Decathlon store and added a multistorey car park.
MATRIX CONCEPTS UNVEILS LIFESTYLE HUB IN KLUANG
NST, 18/05/2026
Matrix Concepts Holdings Bhd has launched X Park Bandar Seri Impian, a recreational and lifestyle destination in Kluang, Johor. The park officially opened on 15th May 2026, drawing about 15,000 visitors. The launch marks the second X Park township collaboration after Bandar Sri Sendayan, positioning Bandar Seri Impian as another hub for recreational activities. The park is offering free trial access to selected facilities for two weeks, including badminton, pickleball, futsal, driving range and go-karting. The park also features ATV tracks, a gymnasium, cafes and retail outlets.
KERJAYA PROSPEK SECURES TWO CONTRACTS WORTH RM102.6 MILLION FROM E&O UNIT
The Edge & Th e Star, 21/05/2026
Kerjaya Prospek Group Bhd has secured two contracts worth RM102.6 million for construction works at Andaman Island, Penang. The two letters of award were granted to its wholly owned unit, Kerjaya Prospek (M) Sdn Bhd, by Persada Mentari Sdn Bhd, an 80%-owned subsidiary of Eastern & Oriental Bhd. The first contract, worth RM69.6 million, involves the construction of 28 units of three-storey terrace houses and 18 units of three-storey semi-detached houses at Seksyen 2. Works are expected to start on 1st August 2026 and be completed within 24 months. The second job, worth RM33.01 million, involves piling and earthworks for a 53-storey serviced apartment block that comprises one basement level and two ground levels at Bandar Tanjung Pinang. Works are expected to start on 1st July 2026 and be completed within 12 months.
