Sunway continues expanding land bank
Sunway Bhd has entered into a joint venture agreement with Huatland Development Sdn Bhd with a 55% stake to form a JV company.
Sunway Bhd has entered into a joint venture agreement with Huatland Development Sdn Bhd with a 55% stake to form a JV company.
Knight Frank Malaysia pointed out that developers are scaling back on new property launches, especially in the high-end condominium market amidst continued weak demand.
1HFY17 office revenue dipped 0.3% y-o-y as 40% of the net lettable area (NLA) of Menara Exxon-Mobil was unoccupied in February and March 2017.
Higher contribution from the manufacturing and property divisions.
Currently, its ongoing projects include H2O @ Ara Damansara (mixed development), Emery @ Kemensah (high-end, landed, residential) in Ampang, Mutiara Residences in Klang (landed, residential) and Seri Alam Residence in Klang (landed, residential).
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At least 30% of the contract value will be awarded to Malaysian contractors.
Rental declines for apartments and condominiums appear to be slowing in several market segments.