Revenue growth came mainly from improved contributions from Sunway Putra Mall (+291% quarter-on-quarter [q-o-q]), which was more than enough to offset the drop in rentals from Sunway Tower (-58% q-o-q), as the office tower’s occupancy rate fell to 21% from 67% in FY15.

On the whole, net property income was up 9.6% y-o-y mainly driven by gross rental income (+7.3% y-o-y) attributed to renewals and additional net lettable area (NLA) of 40,000 sq ft, as well as a decrease of 1.8% y-o-y in operating expenses.

Only standard three-bedroom flats with sizes of 700 to 750 sq ft in Green Lane appreciated by 11.7% to RM380,000 from RM340,000, while average prices of standard three-bedroom apartments/condominiums (excluding luxury types) of over 900 sq ft in Island Park/Glades inched up 2.1% to RM480,000, from RM470,000 in 3Q2014.

Indicative annual rental yields as calculated from asking rentals observed at June 2015 are fair, ranging from 4.0% to 7.5%. The highest asking rental yields can be found at Pantai Apartment (7.5%) in Butterworth.

The strata market here remains very affordable due to low land prices, as well as a preference for landed homes.

KLCC Property Stapled Group (KLCCPSG) achieved a financial year ended Dec 31, 2015 (FY15) core net profit of RM746.1 million (+8.2% year-on-year [y-o-y]), with a stronger profit after tax and minority interest growth of 20.6% y-o-y (underpinned by a higher amount of revaluation surplus on its assets, while FY14 also saw a one-off debt-prepayment fee of RM26 million).

Eastern & Oriental Bhd (E&O) announced on Bursa Malaysia that its subsidiary Tanjung Pinang Development Sdn Bhd had signed a supplementary concession agreement (CA) with the Penang government.

The 2.1-acre freehold project known as Twinz Residence will comprise two 20-storey residential towers and is located next to Koi Kinrara, a high-density condominium.

With the abundance of space on the mainland, property prices remain affordable. The condominiums offered here are less prestigious than on the island, with many preferring to own landed property.

Ewein Zenith determined to set new benchmark with City of Dreams.