Developers’ margin woes to stay
Shift to affordable sector, along with rising building costs, will put pressure on their earnings.
Shift to affordable sector, along with rising building costs, will put pressure on their earnings.
All units were fully sold upon launch in 2015
This is compared to a RM835,000 net loss a year ago.
As at 10:09am, AZRB shares pared gains at 95 sen with 122,000 shares traded.
Rented for: RM4,100 (RM5.95 psf); Concluded by: Chong Teck Seng (REN 05043) of MIP Properties Sdn Bhd (012-873 1283); When: August 2017
Called Northbank, it will be located in the greater Tabuan area.
It is already almost as tall as the Petronas Twin Towers.
The land is supposed to be for the Kuala Lumpur Vertical City (KLVC) development project which will comprise seven towers, including Felda’s KLVC Tower1A.
The losses were caused by the provision for impairment of balance of sales proceeds from the sale of Berjaya (China) Great Mall Co Ltd (GMOC), which amounted to RM155.08 million.
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