S P Setia Bhd has announced its acquisition of a 1.02-acre (0.414ha) piece of freehold land for a purchase consideration of A$101 million (RM302 million). The land was secured via a competitive bidding exercise from Telstra Corp Ltd, Australia’s leading telecommunications company. The land cost makes up 16% of the project’s gross development value (GDV) of A$640 million, which seems higher compared with S P Setia’s previous transactions of Parque Melbourne in St Kilda Road and Fulton Lane in 2010 and 2011 at around 10% of GDV.

Construction firm-turned-property developer Johawaki Development Sdn Bhd will launch Phase 3 of its landed development, Avanti Residences, on May 7. The final phase will offer 38 semi-detached homes with built-ups of 3,090 sq ft, on a 3,200 sq ft plot. The semidees are priced from RM1.49 million onwards.

Today, we continue our focus on Kelana Jaya by looking at average prices on a per square foot (psf) basis. Based on transactions analysed by TheEdgeProperty.com, the average price of non-landed homes in the area has remained steady at RM431 psf in 1Q2015.

Assuming the same placement price of RM1.30 for all tranches, EcoWorld is expected to raise up to RM768.4 million. Out of this, RM468 million (61% of gross proceeds) is targeted for the subscription of EcoWorld International Bhd’s (EWI) initial public offering (IPO). This is followed by RM297.7 million (or 39%) for future land acquisitions.

Pavilion REIT’s core asset is the 1.3 million-sq ft net-lettable-area (NLA) Pavilion Kuala Lumpur mall, located strategically in the heart of the Bukit Bintang shopping district in Kuala Lumpur. The premium profiling and location have led to a strong average rental rate of above RM20 per sq ft, as well as justified its premium valuation over other large-cap Malaysian REITs.

Home to Paradigm Mall and serviced by the Kelana Jaya LRT Line, Kelana Jaya is a highly popular neighbourhood. Based on TheEdgeProperty.com’s analysis of transactions, the average transacted price was RM431 psf in 1Q2015 while the average transacted price per unit was about RM516,000.

MALAYSIA has many malls, especially in the Klang Valley — from mega and strata-titled shopping centres to neighbourhood malls. The retail sector has evolved over the years and as more supply comes onstream, concerns of a glut grow.

This week, the spotlight falls on the secondary market of non-landed residences in Kelana Jaya, Selangor. The areas covered include Aman Suria, Taman Mayang, Taman Mayang Jaya, Taman Bukit Emas, Taman Kelana Idaman, SS3, SS4, SS5, SS6 and SS7.

Loan approvals are harder to come by. Here is how you can improve the odds of securing one.

Truth be told, hacking at and tearing down walls of a newly-bought property are a norm these days, be it a brand new or lived-in unit.