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Knight Frank Malaysia is the exclusive agent appointed by the property owner Media Chinese International Ltd (MCIL), which also owns the Chinese daily as well as Sin Chew Daily, China Press and Guang Ming Daily.
Spanning 1,818 sq ft, the new Sony Centre emphasises innovative consumer experiences.
Situated right at the junction of Panyu Road and Yan’an West Road in the heart of Shanghai City, the site’s main landmarks are the two Baroque-style buildings which were designed and purposely built for foreign expats as their recreational club in Shanghai almost a century ago.
While New Village real estate may not interest most investors, there is still investment potential if the plot size is substantial.
The joint venture development between UEM Sunrise and Melati Ehsan Group consists of residential units, a retail mall, office spaces, hotels, healthcare centre and education hubs. The township will be developed over 15 phases and is targeted to be fully completed in 2039.
Rented for: RM5,200 per month; Concluded by: Caren Wong (REN 22846) from Rgroup 6 Sdn Bhd (016-282 3223); When: July 2019
It comprises three towers of 64-storeys each and will have a gross development value of RM1.8 billion.
He also commended the proposal to reduce the foreign home ownership threshold for condominiums and apartments in urban areas to RM600,000.
“The revision will allow sellers to pay lower RPGT. However, we hope continuous improvements to the RPGT policy can be considered to boost more interest and activities in the secondary property market, as many buyers are looking to upgrade after disposing their older units.”
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