News by M

Presenting its alternative PTMP at a press conference yesterday, Penang Forum said building the trams and BRTs would also take less time.

The city has been sort of underrated over the years as a tourist spot in Malaysia, with the Pearl of the Orient, Penang; and historical Melaka hogging the limelight in the peninsula and Land Below the Wind, Sarawak across the South China Sea drawing in visitors.

Hotels are so last year. So much better to get into the culture of a country by living in one of the people’s homes. But what happens when the same people get all worked up by your presence?   

The province’s “action plan” to meet this goal include “easing restrictions on residents buying properties in other cities, encouraging migrant workers to buy urban homes, and reducing land supply in cities that face mounting inventories”.

This confirmed a report by The Edge Financial Daily on Monday, which said the company was looking at a potential sale of the land for some RM130 million.

Malaysian real estate investment trusts (M-REITs) may soon be allowed to put as much as 15% of their total assets into development projects and vacant land for development and are already positioning themselves for the liberalisation that is slated for the end of the year, industry sources say.

CapitaLand's wholly-owned serviced residence business unit, The Ascott, is acquiring a 221-unit serviced residence in Docklands, Melbourne, for A$71 million (S$71 million) (RM210 million) as part of its partnership with Australian-based apartment operator Quest Apartment Hotels.

Rykadan acquired the 2,920 sq ft site at 7 Kwun Chung Street from the authorities for HK$194 million more than three years ago after beating numerous bidders.

The rising price of homes is one of the biggest complaints of Malaysians, especially for city folk. Many are saying that they cannot afford most of the homes for sale out there, and we are not even talking about location and quality yet.

We opine that it is now an opportune time for Tiong Nam to go warehouse real estate investment trust (REIT) listing given the renewed interest in high dividend stocks.