News by CHIN WAI LUN

Sime Darby Property's two residential projects have recorded high take-up rates during their respective official bookings weekend.

Occupancy rates for purpose-built office and retail spaces are dropping even though the supply has increased in 2021, according to the National Property Information Centre (Napic) report for 2021.

This is on the back of the developer recording strong take-up rates of its products, especially at its flagship Bandar Sri Sendayan township in Negeri Sembilan, as well as a lesser threat of a Covid-19 operational closure. 

Noteworthy:

• Freehold
• Land size: 2,486 sq ft
• Built-up: 1,150 sq ft
• 3 bedrooms, 2 bathrooms
• Corner unit
• Facilities: Gated and guarded, basketball court, park, playground

When: July 2021

Currently most of the cloud kitchen operators are in the Klang Valley, consultant seeing the operators are planning to expand into other cities like Johor Bahru and Penang.

The unidentified buyer also bought an adjacent apartment for HK$561 million. 

Both projects have a combined gross development value (GDV) of RM239 million.

This arrangement will mark NCT Alliance's first direct appointment for a rehabilitation project.

The developer also welcomed the extension of personal income tax relief of up to RM1,000 for domestic tourism expenses up to the year of assessment 2022 to encourage tourism within Malaysia.
 

Another property sector-related measure deemed positive is an allocation of RM1.5 billion for housing projects for the lower-income group.