News by Chelsey Poh

在此之该房屋等待买家已有约三个半月，最终它以RM135万或每平方尺RM375的价格被卖出。

"The estimated cost per swab test is around RM350 to RM650 per person, depending on volume. The high cost per person translates to a considerable amount that contractors need to bear as a construction site typically has hundreds of workers. This would incur heavy costs to construction companies, adding to all other mobilisation costs as well as losses since the beginning of the Movement Control Order (MCO) on March 18," they said.

“We understand that in working under the new normal, a lot of challenges will be encountered. Your patience and tolerance will be needed to weather this storm.”

Real Estate and Housing Developers' Association (Rehda) president Datuk Soam Heng Choon: Interested developers could form a loose coalition with ministries such as the Ministry of Tourism, Arts and Culture Malaysia and Ministry of Housing and Local Government, as well as perhaps Rehda in coming up with promotional efforts. 

Anticipating a gestation period for businesses post-MCO before a full recovery, the mall operator reckons that shorter operating hours will allow better optimization of staffing arrangement from two working shifts to one shift.

The panelists were President of the Malaysia Shopping Malls Association (PPKM) and 1 Utama and Bandar Utama City Centre director Tan Sri Teo Chiang Kok, KIP Group CEO Valerie Ong and Sunway Malls and Theme Parks CEO HC Chan. The live session was moderated by EdgeProp Malaysia managing director and editor-in-chief Au Foong Yee.

Malaysian Association of Hotels (MAH) chief executive officer Yap Lip Seng: Based on the current situation, we are estimating up to 30% closures over six months (from when the MCO began on March 18) either permanently or temporarily.

PAM president Lillian Tay: I believe that everyone should share the burden as no one should expect to take ‘benefit’ from the crisis

According to the Savills Global Market Sentiment Survey, China held a ‘slightly positive’ sentiment, as the country saw some real estate activity resume after infection rates were brought under control. In the first half of April, the country’s retail and office leasing activities increased moderately. Meanwhile, South Korea and Vietnam, which have seen rapid falls in infection levels, were ‘neutral’.

“However, given Covid-19 social distancing, the co-living concept may come under scrutiny,” Knight Frank Malaysia Managing Director Sarkunan Subramaniam said