News by M

S P Setia Bhd, via its subsidiary S P Setia International (S) Pte Ltd, has been awarded the tender for Singapore’s Toh Tuck Road site by Singapore’s Urban Redevelopment Authority (URA), marking the developer’s third project on the island.

Eastern & Oriental Bhd (E&O) has recorded 87% take-up for phase 2 of its Ariza Seafront Terraces comprising 35 units of landed homes in Seri Tanjung Pinang (STP), Penang. They were launched on March 23.

AmanahRaya Real Estate Investment Trust (AmanahRaya REIT) aims to acquire “trophy assets” in the immediate term, despite the softening property market, said Amanah Raya Bhd’s (ARB) group managing director Adenan Md Yusof.

SkyWorld Development Group has invested RM3.8 million to set up a 13,000 sq ft facility called the SkyWorld Quality Centre to showcase the quality of construction of the developer’s projects.

 The ministry of urban wellbeing, housing and local government will build 4,800 units of studio apartment for youths, on its land in Batu district, Kuala Lumpur.

Sime Darby Property’s 40%-owned Seriemas Development has entered into a conditional sale and purchase agreement (SPA) to sell 342.5 acres (138.6ha) of land in Bangi to S P Setia for RM447.6 million (or RM30/sq ft), with profit-sharing of 20% of the pre-tax profit from the development, subject to a maximum of RM44.7 million (or RM3/sq ft).

The market chatter that first surfaced in 2014 to merge all the property companies under PNB’s portfolio could finally happen. Instead of merging S P Setia Bhd, Island & Peninsular Sdn Bhd (I&P) and the property businesses of Sime Darby Bhd, S P Setia announced that it had entered into a memorandum of intent to only acquire I&P however. 

In its first Investment Trends Survey, Knight Frank found the majority of investments into commercial properties were primarily driven by diversification, with real estate being used to provide variation from both domestic economy and across asset classes.

Anzo Holdings Bhd has been slapped with yet another unusual market activity (UMA) query by Bursa Malaysia, after its share price plunged by 19.5 sen or 35.14% to 36 sen today.

UOB Kay Hian is reiterating its “hold” recommendation on Ascott Residence Trust (ART) at a target price of S$1.20 following news of the trust’s agreement made last week to divest its trust beneficiary interests of 18 rental housing properties in Japan to Nikko Zenith GK9.