News by M

Sold for: RM838,000 (RM520 psf); Concluded by: Nelson Leong (REN 15269) of Cornerstone Realty (012-813 1889); When: August 2016

The project is located along Jalan Pahang and DUKE Highway 2 and accessible via Jalan Tun Razak.

Pavilion REIT said 4QFY2016 revenue rose 13.5% to RM117.5 million from RM103.5 million in the previous year because of rental income from two new properties.

Contributed by the completion of Phase 1 of Axis PDI Centre.

As expected, Bank Negara Malaysia left its benchmark interest rate unchanged at 3% today at the its first Monetary Policy Committee meeting of the year.

Gain from one land sale has lifted Guocoland (M) Bhd’s net profit to RM110.8 million, or 16.54 sen per share, for the second financial quarter ended Dec 31, 2016.

The company is confident that it will achieve the 2017 target as it plans for 13 new launches (comprising mostly mass-market housing), with a combined gross development value (GDV) of RM2.35 billion this year.

This year will see all eyes — including property developers’ — on affordable housing priced between RM400,000 and RM500,000, said property consultancy firm CBRE | WTW.

Due to an oversupply, high-end strata properties particularly Small-office Home-office (SoHo) and Small-office Virtual-office (SoVo) units could see prices falling by at least 10% this year, according to property consultancy CBRE | WTW.

TA Securities Research has maintained its “Underweight” rating on the property sector, as “weak market sentiment, increasing supply and tight lending environment are expected to weigh on property sales”.