News by Chelsey Poh

“As the Covid-19 Movement Control Order (MCO) had brought works at projects and construction sites to a standstill, an extension of timing for completion of these new malls is to be expected,” noted Savills.

“Massive business closures are unlikely to happen at least in the established malls while mall owners have stepped up in strategizing and introducing new commercial terms to maintain occupancy levels.”

This is a very challenging time for model makers as they depend heavily on property developers’ marketing expenditure

With a gross development value of RM1.12 billion, the freehold transit-oriented development (TOD) project comprises two blocks housing 648 units.

The joint venture company, known as MFBBCC Serviced Suites Sdn Bhd (MFBBCC), will be 51% held by MFAM and 49% by BBCCD. MFBBCC will manage and operate the property including granting of tenancies within the property.

Executive director of Capital Markets Allan Sim: Post Covid-19, we expect to see more major companies looking to diversify and decentralise their supply chains across countries and regions to mitigate geographical risks on production lines or material sourcing. The decoupling of US-China supply chains is also evident as trade tensions continue to intensify.

MIEA also urged the government to include secondary market properties in the removal of the 70% cap on the margin of financing for the third housing loan.

Sunway Group chief innovation officer and Sunway iLabs director Matt Van Leeuwen: We hope to empower homeowners to grow their own food. This will be a model for Sunway Property to replicate throughout their cities in Malaysia, and allows us to scale up quickly.

CEO Ong Ghee Bin said OSK Property has defined essential homes as developments that emphasise on the fundamental requirements with selected key facilities while maintaining a balance of greenery and sustainable features.

Sold for: RM550,000 (RM519.36 psf); Concluded by: Justin Lee (REN 32527) (016-618 9568) of Full Homes Realty; When: February 2020