As the delay has dampened new sales this year, we expect it to grow significantly stronger next year to around RM350 million to RM400 million.

Sustainability the buzzword in design

Land & General has another upcoming project nearby called Damansara Foresta. Units at this high-end condominium were selling for about RM800psf.

Hotel Equatorial Melaka is a five-star 22-storey international business hotel located in Bandar Hilir, Melaka. Sime Darby acquired the asset in 1998 and the hotel is now 17 years old.

The development has a total of three blocks consisting of 500 PPA1M residential units, 316 public residential units and 20 commercial units.

This means there are now three interested parties keen on acquiring a 60% stake in Bandar Malaysia Sdn Bhd, sources say.

While there are numerous condominium projects in the pipeline, the high-rise landscape is still predominantly dominated by the low-to-mid-cost segment.

UEM Sunrise Bhd has signed an agreement with Ascendas Hospitality Trust to sell the serviced apartment component of the La Trobe Street mixed-use development, Aurora Melbourne Central, for A$120 million (RM369 million).

Barring any unforeseen circumstances, a formal sale and purchase agreement is expected to be signed within the next 60 business days. The acquisition will be funded through a combination of equity and debt due to MQREIT’s relatively high gearing of 0.43 times.

We estimate that the disposal of Menara Shell will reduce MRCB’s net gearing from the current 113% to 86% on a pro forma basis.