Category: Kuala Lumpur / Selangor Props
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EcoWorld – land buy is ok, will meet Selangor government
An article about EcoWorld yesterday received lots of attention. It was about their largest purchase to date. In fact I think in terms of the land price, it would be the largest that I have ever read thus far. EcoWorld was purchasing a piece of 2,200 acres land in Ijok, Kuala Selangor. Before I could…
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Supply continue dropping, prices should start increasing
One high profile event happened recently, CPA Australia’s CPA Congress. One of the forum included this: “Property Watch — Buy, Sell or Hold?.” Very briefly, the industry experts invited are all predicting that future increases in property prices will be happening. This is despite the current property slump in Malaysia where transactions are concerned. In…
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EcoWorld: RM1.1 Billion for 2,198.4 acres of land in Kuala Selangor
Sometimes, some land deals would surprise me. Reported in The Star, this one surprised me tremendously. EcoWorld has proposed to buy 2,198.4 acres of land in Kuala Selangor for RM1.181 Billion for a mixed eco township with a gross development value (GDV) of about RM15bil. This is approximately RM12.33 per sq ft. According to EcoWorld,…
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Slow times? Eco World set to hit RM3 billion target
Reported in The Star online, EcoWorld has announced that it is confident that it will meet its sales target of RM3 billion for its current financial year ending Oct 31 2015. It said that the achievement is because of its brand profile and township development. Its immediate plan included the launch of Eco Meadows in…
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Pantai Sentral Park Secoya Residences at RM780 psf
Reported in The Star on IJM’s Pantai Sentral Park development. The first phase Inwood Residences was RM100 per sq ft lower and second phase called Secoya Residences is now at RM780 per sq ft. Phase One (Inwood Residences) has been fully sold, for the non-bumiputra units. Pantai Sentral Park is a 58-acre integrated development right…
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Property sales down 9%, only 40% of launches sold
In a latest survey from the Real Estate and Housing Developers Association (REHDA), it has shown that sales for the first half of 2015 is 9% lower than same period last year. A further breakdown revealed that out of the 10,877 units which were launched in H1 2015, only 4,374 or 40 percent were sold.…
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Genting’s GITP, Guinness Book of Records and near full occupancy
When I was still based in Penang, I used to visit Genting Highlands at least once a year. Today, I can visit Genting Highlands every weekend, if I wanted to because from my home to Genting is just 55 minutes. It’s a good place to relax and yes, try my luck. For every trip, I…
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486 acre Bandar Malaysia, shortlisted 4 preferred bidders
The show must continue, especially for a piece of land which is considered prime. Yes, this is the Bandar Malaysia’s 486-acre project. According to the adviser for Bandar Malaysia, CH Williams Talhar and Wong (WTW), a total of four companies/consortiums have been shortlisted and approved by 1Malaysia Development (1MDB) as potential development partners. Bandar Malaysia…
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More below RM500k units but unsold units at 78 percent
I think everyone is aware that the property market is entering a slowdown period. The total numbers were lower for Q1 2015 versus Q4 2014. Well, situation may be even slower than anticipated or the sentiment is even more negative than I thought? Well, according to Real Estate and Housing Developers’ Association Malaysia (REHDA), for…
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Up 153%, even with the slowdown. SP Setia.
Yes, all of us have heard about the slowdown nearly everyday. No one really understood the term slowdown meant here is still growth. Many thought it’s already recession in Malaysia. Well, one company has showed resilience thus far. SP Setia Bhd’s earnings surged 153% to RM267.78million for Q3 2015 versus a year ago due to…
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Canada Pension Fund and Malaysian investment
The Canada Pension Plan Investment Board (CPPIB), the largest pension fund manager in Canada has taken a stake of 49 percent in Pavillion Damansara Heights. The other half is owned by the Pavillion Group. The stake is worth US$130 million (RM550 million) based on latest exchange rate. This will be CPPIB’s first direct real estate…