News by EDGEPROP.MY

Axis Real Estate Investment Trust (Axis-REIT) is acquiring an industrial complex in Seksyen 16, Shah Alam, Selangor for RM38.0 million from Rubicon Assets Sdn Bhd (RASB) — a transaction classified as a related party deal given the vendor's links to directors of the REIT's management company.

KPKT has urged all PBTs nationwide to consider reducing rental rates for business premises, stalls and food courts under their purview until end-2026, as part of efforts to ease the rising cost burden on hawkers and small traders.

Sunway Real Estate Investment Trust (Sunway REIT), one of Malaysia's largest diversified REITs with 28 properties valued at RM10.2 billion and a market capitalisation of RM7.9 billion, recorded a 10% year-on-year (y-o-y) increase in profit before tax to RM114.8 million in the first quarter ended March 31 (1Q2026), driven by a stronger retail segment performance and lower finance costs.

International Workplace Group (IWG) is expanding its premium coworking presence in Malaysia with the launch of a new Spaces centre at Republik TTDI in Taman Tun Dr Ismail, Kuala Lumpur, amid rising demand for flexible workspaces.

The Penang Development Corp (PDC) will open a third round of bidding for the Batu Kawan Industrial Park 2 project (BKIP2) in Byram as its second request for proposal (RFP) failed to proceed.

A Penang state assemblyman has proposed a 3% property transfer premium on buyers who are not from the state, in a bid to cool speculative demand and channel funds into affordable housing schemes for locals.

The Real Estate and Housing Developers' Association (Rehda) Malaysia has expressed support for the proposed introduction of an “Option to Purchase” (OTP) clause under the new Real Property Development Act, which is expected to replace the current Housing Development (Control and Licensing) Act 1966 (Act 118).

The property comprises a freehold industrial land measuring 23,838 sq ft with a three-storey semi-detached factory of 25,112 sq ft built-up area.

The SPAs are now null and void, and neither party shall have any claims against the other arising from the agreements, save for any antecedent breach.

KL2 will be located less than 1km  from Equinix's existing Cyberjaya facility, KL1.