We understand that the acquisition of Menara Shell is still in progress, and injection into MRCB-Quill REIT (MQREIT) could take place in early 2017.

Perak, which was once considered the jewel in the British colonial government’s crown, is slowly working to gain a competitive advantage with numerous industrial developments and by becoming a tourism hot spot the likes of Penang and Melaka.

The story started in 2004 when Tan King Hong, Loh Kok Theng and See Cherng Jye were brought in to establish Yuwang Development Sdn Bhd, the property arm of Yuwang Group.

Overall, capital values have grown slightly. Sutramas recorded a 23.1% y-o-y growth in average price to reach RM587 psf in the 12 months to 1Q2015. However, the average price had been skewed upwards by an unusually high sale at RM1,370 psf in October 2014.

Eco World Development Group Bhd’s (EcoWorld) 40%-owned BBCC Development Sdn Bhd ([BBCCD] and remaining stake of 40:20 held by UDA Holdings Bhd:Employees Provident Fund have entered into heads of terms agreements and memoranda of understanding (MoU) with Mitsui Fudosan (Asia) (MFA) and Zepp Hall Network for the development and leasing of a retail mall and a live concert hall respectively at its Bukit Bintang City Centre (BBCC) project.

The Henge, inspired by Stonehenge in the UK, comprises four towers, each 45 storeys high, with a total of 1,472 units. The development has a gross development value of RM790 million and sits on six acres of leasehold land next to the lake in Taman Metropolitan Kepong.

Esque South Yarra in Melbourne is set to launch on April 2 in Australia. The project sits on a 5,000 sq ft commercial parcel and will offer 64 apartments and two penthouse units, with built-ups of 818 to 1,829 sq ft.

In the 12 months to 1Q2015, the majority (64.9%) of secondary strata transactions were within the RM401 – RM600 psf price range. Another 16.4% were for properties priced between RM201 – RM400 psf. Sales valued over RM1,000 psf accounted for only 3.3% of transactions.

As urbanisation gathers pace, so must the rejuvenation of cities if they want to grow and thrive. The good news is that in Malaysia, it is already an ongoing exercise.

“I have no time for gossip. My work, and focus, is to complete and deliver the project,” Datuk Danny Cheah replies when asked about market talk of delays and other issues at the company’s Empire City @ Damansara KL development.