News by M

Sunway Bhd’s real estate arm Sunway Property is setting up a regional office and sales gallery in the northern state of Malaysia, Penang, which is scheduled for completion in April 2017, the developer said in a statement yesterday.

IJM Land Bhd will be launching the second phase of Rimbun Vista (3A2) at S2 Heights, Seremban 2 later this September, said its managing director Edward Chong.

Stronger revenue from management services, due to the provision of facilities management to additional properties, also contributed to the rise in quarterly revenue.

Contract is for a period of three years.

“The tests and trial runs will not involve members of the public as we have to be absolutely sure that everything works fine before we open the line to the public.”

TRX City Sdn Bhd (formerly known as 1MDB Real Estate Sdn Bhd) saw a net profit of RM380.6 million in the financial year ended March 31, 2015 (FY2015). But it could have been a lot less had it not been for the income from the relocation of the Kuala Lumpur Air Force base (Pangkalan Udara Kuala Lumpur or PUKL).

THE slowdown in the property market is not news to developers and the public. But some developers have weathered the headwinds by planning carefully and implementing good strategies. For a glimpse of this, we asked the winners (Top 10) of last year’s The Edge Malaysia Top Property Developers Awards for their views at the start of the evaluation of this year’s Top 10 ranking.

"We are seeing an unnatural increase of rental at [the] George Town Unesco site and the tenants had been complaining that they had suffered more than 500% hike in rental for several years, which had forced them out, leaving their business."

SGREIT recently announced a FY16 revenue of S$219.7 million (RM661.8 million), net property income (NPI) of S$170.3 million, as well as a DPU of 5.18 cents.

MRT Corp chief executive officer Datuk Seri Shahril Mokhtar said 86% of the first phase of the line has been completed, with trial runs to start in October.