Malaysia’s commercial real estate (CRE) market saw a strong recovery in 2024, in line with the global resurgence in property investment.

Iskandar Investment Bhd (IIB) received 5 Diamonds for the Net Zero Carbon Central Business District (NZCC) within the Medini Innopolis masterplan, in Iskandar Puteri, Johor at the Low Carbon Cities 2030 Challenge (LCC2030C) awards this week.

Construction stocks in Malaysia have room to improve from currently unjustified valuations, amid booming data centres and upcoming public projects, analysts said.

Mara Incorporated Sdn Bhd (Mara Inc) is currently drafting a comprehensive property valuation policy, which is expected to be submitted for board approval in this quarter, according to the Public Accounts Committee (PAC).

Eco World Development Group Bhd announced today that it had entered into a sale and purchase agreement with Deye New Energy Technology (Malaysia) Sdn Bhd (Deye) to sell 32.9 acres of industrial land for RM119 million.

S P Setia yesterday signed a memorandum of collaboration (MoC) with the Penang Development Corp (PDC) to jointly develop approximately 350 acres of land within Setia Fontaines into a mixed and/or industrial development.

Noteworthy:

• Freehold
• Built-up size: 8,000 sq ft
• Land size: 11,434 sq ft
• Unfurnished
• 8 bedrooms, 5 bathrooms
• Nearby amenities: Taman Tasik Titiwangsa, National Art Gallery, Kuala Lumpur Hospital, MRT Titiwangsa, UTM Kuala Lumpur
• Accessibility: DUKE, AKLEH, Jalan Tun Razak, SPE, MRR2, Lebuhraya Sultan Iskandar

When: January 2025

The list of non-core assets includes the Mercure KL Glenmarie hotel and the Petaling Jaya office building Ashwood ATWATER.

The company had a remaining GDV of RM5.5 billion as at end-2024, from its 369.4-acre undeveloped land and unsold units in launched projects.

Currently, 62.9% of LTAT’s portfolio consists of strategic assets.