Week 37 - 2026
MALAYSIA PROPERTY MARKET REMAINS RESILIENT WITH RM105.12 BILLION TRANSACTIONS IN 1H 2026
NST, 10/09/2026
Malaysia’s property market remained resilient in 1H2026, recording 187,320 transactions worth RM105.12 billion, supported by stable economic growth and the OPR being maintained at 2.75%. A total of 27,832 new residential units were launched, with a sales performance of 16.6%, while the Malaysia House Price Index rose marginally by 0.9% year-on-year to 234.7 points, with the average house price at RM506,317. The residential subsector accounted for 59.3% of total transactions, or 110,998 transactions worth RM47.11 billion, while industrial property transactions grew 3.8% to 3,932 transactions worth RM14.78 billion, in line with stronger manufacturing activity. Commercial property remained relatively stable, with office occupancy improving to 78.5% from 77.8% a year earlier, while shopping complex occupancy stood at 77.9%. However, completed but unsold residential units increased to 33,094 units worth RM17.78 billion
PARAMOUNT'S SIX LAND DEALS CARRY RM4 BILLION POTENTIAL GDV
The Edge, 09/09/2026
Paramount Corp Bhd has signed six land acquisition SPAs with a combined potential GDV of about RM4 billion as it replenishes its landbank while taking a more cautious approach to new launches. Four acquisitions pending completion cover 74.61 acres with a total purchase consideration of RM356.3 million and projected GDV of RM1.946 billion, comprising sites in U-Thant, Batu Kawan, Shah Alam and Putrajaya. The sites are earmarked for various developments including luxury condominium redevelopment, residential and commercial projects, residential development along the Guthrie Corridor Expressway and a transit-oriented development near Putrajaya Sentral. Paramount also has 548.6 acres of undeveloped land with RM7 billion in remaining GDV through 2035. The group launched RM152 million of properties in 1H2026, down 56% year-on-year, as it prioritises higher-margin products and existing inventory, while targeting RM1.6 billion in launch GDV for 2H2026.
VILLAGE GROCER TO OPEN AT MAH SING’S M LEGASI BY END 2029
The Edge, 10/09/2026
Village Grocer is set to open an approximately 19,000 sq. ft. standalone outlet with 80 parking bays at Mah Sing Group’s 500 acre freehold M Legasi township in Semenyih by end 2029, serving as an anchor tenant for the township’s retail component. By then, around 817 homes are expected to be completed and handed over, supporting an initial population of more than 3,200 residents. M Legasi, which has an estimated GDV of RM3.3 billion, comprises three residential precincts—Impira, Adiya and Embun—along with the 19-acre Legasi Walk commercial component and 50 acres of green space.
LBS BRINGS MYDIN TO KITA @ CYBERSOUTH AS TOWNSHIP’S FIRST SUPERMARKET
The Edge & NST, 07/09/2026
LBS Bina Group Bhd has formalised a tenancy agreement with Mydin Mohamed Holdings Bhd (MYDIN) to open the first supermarket at KITA @ Cybersouth in Dengkil, Selangor. The supermarket will occupy about 1.37 acres with a built-up area of 24,000 sq. ft. and will complement the upcoming KITA Avenue Square shoplots. KITA @ Cybersouth spans approximately 633 acres of Malay Reserved Land with around 16,000 planned residential units, of which nearly 40% have been completed, 5% are under development and 55% are in the planning stage. The opening date, tenancy tenure and rental terms were not disclosed.
EI POWER TO BUY GLENMARIE FACTORY FOR RM17.2M AS NEW HEADQUARTERS
The Edge, 10/09/2026
EI Power Bhd has agreed to acquire a freehold semi-detached factory in Glenmarie, Shah Alam for RM17.2 million, comprising 16,100 sq ft of land and 17,472 sq ft of built-up area, to establish a permanent headquarters and warehouse and reduce its reliance on rented premises. The purchase price is slightly below the property’s RM17.3 million market value, with RM15 million funded from IPO proceeds and RM2.2 million from internal funds. The group has also allocated up to RM3.3 million from IPO proceeds for renovation and fit-out works. The property has an existing rooftop tenancy generating RM6,000 per month until May 2027, which will be transferred to EI Power upon handover. The acquisition is expected to be completed within three months.
NCT ALLIANCE HANDS OVER NCT SMART INDUSTRIAL PARK PHASE 1, LAUNCHES KM2
The Edge, 08/09/2026
NCT Alliance Bhd has commenced the vacant possession (VP) handover for Phase 1 of NCT Smart Industrial Park (NSIP) in Sepang, with the phase comprising 280 solar-equipped industrial units and achieving nearly 90% take-up. NSIP’s expanded master plan now covers about 910 acres across six phases with an estimated GDV of RM10.2 billion, following the integration of additional adjoining land. The group has also launched KM2, the 241-unit Phase 2 component, comprising detached, semi-detached, cluster and terrace factories as well as industrial land parcels, with Phase 2 targeted for completion in 2029 and an estimated GDV of RM2.5 billion. NSIP is positioned as a managed and smart industrial park, incorporating 5G connectivity, a smart command centre, centralised security and labour facilities, solar power, rainwater harvesting, EV charging and flood mitigation infrastructure, supporting Selangor’s industrial growth under IDRISS.
SIME DARBY PROPERTY UNVEILS FIRST READY-BUILT FACTORIES AT BBR BUSINESS PARK
The Edge, 08/09/2026
Sime Darby Property Bhd has launched Prestige Collection 1 at BBR Business Park in Bandar Bukit Raja, Selangor, comprising ready-built semi-detached factories with built-up areas of 5,040 sq ft, marking its first ready-built factory offering within the 988-acre managed industrial park. The launch was unveiled at the Bandar Bukit Raja Industrial & Commercial Connect 2026 event, alongside a preview of Quadria II, a collection of four-storey semi-detached and detached shop offices in Bandar Bukit Raja 2. BBR Business Park forms part of the wider 5,333-acre Bandar Bukit Raja township and is recognised as Malaysia’s first GreenRE Platinum-rated industrial development, with existing industrial occupiers including ESR, Vinda, SATO, Big Dutchman and Neways.
PLYTEC SEEKS UP TO RM7.52M IN FACILITIES FOR KUALA LANGAT LAND DEAL
The Edge, 08/09/2026
Plytec Holding Bhd has applied for banking facilities of up to RM7.52 million to partly finance the acquisition of a 4.83-acre freehold agricultural land in Kuala Langat, Selangor, for RM6.21 million, together with the estimated RM2.15 million land conversion premium. The site, located near Plytec’s existing facility and manufacturing plant, is intended to support the group’s longer-term expansion and future operational requirements.
TRC SYNERGY UNIT SECURES RM149.98 MILLION DATA CENTRE SUBCONTRACT
The Edge, 09/09/2026
TRC Synergy Bhd’s wholly owned subsidiary, TRC Construction Sdn Bhd, has secured a RM149.98 million subcontract from Gamuda Engineering Sdn Bhd for underground services works for a hyperscale data centre. The contract commenced on 14 August 2026 and is scheduled for completion by 25 November 2026. The location, data centre owner and end customer were not disclosed.
GENTING PLUGS RESORTS WORLD LANGKAWI INTO REGIONAL ONE°15 MARINA NETWORK
The Edge, 07/09/2026
Genting Malaysia Bhd is developing ONE°15 Marina Langkawi at Resorts World Langkawi in collaboration with Singapore-listed SUTL Enterprise Ltd, adding more than 90 berths capable of accommodating superyachts of up to 140 ft. The marina is expected to receive its first yacht in the 2H27 and will form part of ONE°15 Marina’s regional network, linking Langkawi with its facilities in Sentosa Cove, Singapore and Panwa, Phuket, along an established Andaman Sea cruising route. The new marina will complement Resorts World Langkawi’s existing accommodation, dining and entertainment offerings by providing yacht charters, island-hopping and other marine activities. The partnership is expected to strengthen Langkawi’s marine tourism offering, supported by its strategic location between Singapore and Phuket, international connectivity, tourism infrastructure and duty-free status.
SUNWAY CONSTRUCTION COULD BAG RM1 BILLION MIXED-USE DEVELOPMENT CONTRACTS NEAR BUKIT CHAGAR
The Edge, 10/09/2026
Sunway Construction Group Bhd could secure an estimated RM1 billion in podium and tower construction contracts for the RM2.6 billion integrated mixed-use development by Sunway Bhd and MRT Corp at Bukit Chagar, Johor Bahru, potentially adding about RM60 million to its net profit. This follows its existing RM1.5 billion contract for construction works related to the RTS Link transit-oriented development at Bukit Chagar. The broader Bukit Chagar node is expected to generate about RM11.1 billion in GDV across three major projects, namely Coronation Square (RM5 billion), Causewayz Square (RM3.5 billion) and the Sunway-MRT Corp integrated development (RM2.6 billion). With the RTS Link expected to commence commercial operations in late 2026 or early 2027, the surrounding area is anticipated to see stronger property demand and construction activity.
AME ELITE TO BUY 176.45 ACRES IN PONTIAN FOR RM199.8 MILLION
The Edge, 11/09/2026
AME Elite Consortium Bhd has proposed to acquire 176.45 acres of freehold land in Mukim Jeram Batu, Pontian, Johor, for RM199.84 million cash, with preliminary plans for medium industrial development. The site comprises 28 parcels along Jalan Ulu Pulai, about 9km from the Malaysia-Singapore Second Link Expressway and 26km from Tuas, and is located within the Johor-Singapore Special Economic Zone (JS-SEZ). Most of the land is currently agricultural, while two parcels are industrial and one has no stated land-use category. AME Elite has not finalised the development layout, GDV, development cost, expected profit or timeline, although the acquisition is expected to be completed by 1H27. Together with its proposed acquisition of 31.8 acres in Senai, the two deals would add more than 200 acres to its remaining 295.3-acre land bank.
CRESCENDO RECEIVES BALANCE PAYMENT FOR RM263 MILLION JOHOR DATA CENTRE LAND SALE
The Edge, 10/09/2026
Crescendo Corp Bhd said its wholly owned subsidiary has received the balance purchase price and late-payment interest from MSFusion Sdn Bhd for the sale of a 52.544-acre freehold industrial site in Bandar Cemerlang Industrial Park, Kota Tinggi, Johor, for RM263.21 million (RM115 per sq. ft.). The payment follows a previous default involving RM225.91 million in outstanding principal, with the site intended for the development and operation of a data centre. The transaction became unconditional on 27 April 2026, following key approvals including a 300MW power allocation from Tenaga Nasional Bhd and approval for the data centre development from PLANMalaysia Johor. Crescendo expects to record an estimated gain after tax of RM109.03 million, compared with the land’s audited net book value of about RM12.26 million as at January 2025.
CENTURION'S RM214.5 MILLION PASIR GUDANG BUY TO BE ITS LARGEST IN MALAYSIA
The Edge, 09/09/2026
Singapore-listed Centurion Corp Ltd has agreed to acquire a 7,974-bed purpose-built worker accommodation (PBWA) complex in Pasir Gudang for RM214.5 million, which will become its largest worker accommodation asset in Malaysia upon completion and increase its Malaysian capacity by 22% to 43,980 beds. The 9.73-acre property comprises two adjoining 60-year leasehold parcels with 444 apartment-style units across eight blocks, of which one parcel is already operational while the other was recently completed and will be progressively leased. The acquisition, to be managed under the Westlite Accommodation brand, is expected to support growing demand for compliant worker accommodation from manufacturers and other industrial operators in Pasir Gudang and the Tanjung Langsat corridor, in line with Centurion’s expansion in Johor and the Johor-Singapore Special Economic Zone (JS-SEZ). Completion is expected by April 2027, subject to regulatory consent, valuation and due diligence.
PDC INVITES PROPOSALS FOR 15.8-ACRE BATU KAWAN COMMERCIAL LAND AT RM75 PER SQ FT
The Edge, 10/09/2026
Penang Development Corporation (PDC) is inviting proposals for the acquisition of approximately 15.81 acres of commercial development land along Jalan Batu Kawan, Seberang Perai Selatan, with a reserve price of RM75 psf, translating to a minimum value of about RM51.64 million. The site, which is currently state land and subject to approval for alienation of a freehold title, is located near the Bukit Tambun Toll Plaza.
THE LIGHT CITY'S RETAIL COMPONENT TO SOFT-OPEN ON 29 OCTOBER
The Edge, 08/09/2026
The Waterfront Shoppes (TWS), the retail component of the 4.1 million sq. ft. The Light City integrated seafront development in Penang, is set to soft-open on 29 October 2026. Developed through a joint venture between IJM Corp Bhd and Singapore-based Perennial Holdings, the 1.6 million sq. ft. mall will feature around 300 retail spaces across four levels, making it Penang’s largest shopping mall upon opening. TWS is also integrated with the Penang Waterfront Convention Centre (PWCC), which has a capacity of more than 10,000 guests, positioning the development as a major waterfront retail, lifestyle and events destination.
