News by M

I-Bhd’s net profit for the second quarter ended June 30, 2016 (2QFY16) soared by 72.32% from the previous comparable period to RM14.68 million, as the developer of i-City credited it to stronger property sales.

PRG managing director Datuk Lua Choon Hann said it is now a good time to enter Myanmar and the Philippines as demand for affordable housing and infrastructure in these countries is strong.

It seems 16 companies are vying for the packages of the RM16 billion Sarawak stretch slated for completion by 2022.

With the strong recovery in China’s property market, phase 1 and phase 2 of IOI Palm City in Xiamen are almost fully taken up.

The real estate sector may deliver better returns than bonds, but investors should be patient and selective when looking at new property allocations, according to the Global Alternatives Survey 2016, published by Willis Towers Watson, a leading global advisory and broking and solutions company headquartered in London.

PRG said its wholly-owned subsidiary, Premier Gesture Sdn Bhd, signed the development JV agreement with Baycity for the project on a leasehold 2.6ha (6.48 acre) tract. Baycity owns the land.

EC World will be the third REIT to be floated in Singapore this year. The trust hopes to raise up to S$450 million (RM1.3 billion) with its initial portfolio of six e-commerce and logistics properties located in Hangzhou, China.

PRG managing director Datuk Lua Choon Hann said the company's plans were still at preliminary stage.

Ekovest managing director Datuk Seri Lim Keng Cheng, however, said there is no specific timeline for the REIT to be realised and will wait for a good time.