Northeast Penang is perceived as the upmarket part of the island, but Southwest Penang is becoming more appealing with numerous projects underway related to the Penang Second Bridge and Penang Transport Master Plan. 

Revenue grew a decent 2.9% y-o-y despite weaker market sentiment, underpinned by a positive rental reversion stemming from the refurbishment works completed in 2014 for Pavilion Kuala Lumpur (PavMall).

Last Thursday, IJM Corp Bhd announced that it had bagged a contract from UEM Land Bhd for main building works — Phases 1A and 1B — for the proposed mixed-use development known as Almãs in Puteri Harbour, Johor, worth RM484.2 million.

Given the soft property market environment, UOA Development Bhd is planning only four launches in 2016, with an estimated gross development value (GDV) of RM3.5 billion. 

Most buyers selective and careful with their purchases.

The Penang Transport Master Plan is expected to improve connectivity in the area with the Bayan Lepas LRT line from Gurney Drive to Teluk Kumbar and Batu Maung; and the Pan Island Link Highway project from Gurney Drive to Bayan Lepas.

Yong Tai Bhd will debut its RM5.4 bil Impression City development this year.

Central City Kuala Lumpur’s location looks hard to beat but prices of non-landed residences have moderated recently.

The management expects the challenging operating environment in its UK operations to continue going forward. The UK operations typically contribute 10% of group earnings.

Heatherwick Studio by Thomas Heatherwick is no stranger to the architectural community. It designed the hammered copper cauldron for the 2012 London Olympics; the UK Pavilion at the Shanghai World Expo 2010; and a futuristic version of London’s double-decker bus.