News by Wong King Wai

Damansara REIT Managers Sdn Bhd, the manager of Al-`Aqar Healthcare REIT and Al-Salam REIT, has appointed Zulhilmy Kamaruddin as its new chief executive officer (CEO) as of Thursday (Nov 21).

Malaysian home-grown hospitality brand Equatorial Group and Thailand’s ONYX Hospitality Group have signed a joint-venture (JV) agreement to co-develop EQ Phuket, a resort hotel that is set to open in 2028.

KIP Real Estate Investment Trust (KL:KIPREIT) has acquired a 1.15-acre, or 4,663 sq m, property in Gerik, Perak for RM14.8 million.

While the newly announced Budget 2025 is not a “property budget”, property consultants applaud the introduction of tax relief for housing loan interest payments up to RM7,000, which is expected to encourage first-time homeownership.

EUPE Corp Bhd (KL:EUPE) topped out its Helix2 affordable high-rise development located in PJS 5, Petaling Jaya, Selangor, on Friday.

Real estate advisory firm AREA Group of Companies, through its special purpose vehicle Data Gateway Sdn Bhd, signed a sale and purchase agreement with Northern Gateway Sdn Bhd to purchase 30 acres of industrial land in Delapan, Kedah, to develop the first phase of its hyperscale data centre campus called AREA Data Centre Campus (ADCC).

The Malaysian REIT Managers Association (MRMA) has announced that Malaysian Real Estate Investment Trusts (M-REITs) in 2024 has achieved a 7% increase year-to-date on the Bursa Malaysia REIT Index.

Sime Darby Property Bhd (KL:SIMEPROP) is collaborating with Technogym Malaysia to integrate fitness equipment and solutions into Sime Darby Property’s developments for a 60-month period, with the flagship facility at KLGCC.

In its recently issued 2024 Asia Pacific Home Attainability Index report, the three current key property trends are: renting has increased in cities, young people are not able to own their own homes, and developers are encountering financial difficulty.

Seri Pajam Development Sdn Bhd held a groundbreaking ceremony for SPD Tech Valley, their first industrial development in Senawang, Negeri Sembilan on Monday. The development has a gross development value of RM3 billion.