The property group recorded losses from its BPS JV, which widened to RM46.7 million for the first half ended June 30, 2023 (1HFY2023), compared with RM7.1 million losses for 1HFY2022, due to higher interest charges. 

The group's quarterly revenue gained 14.3% to RM1.23 billion in 1QFY2024 from RM1.07 billion in 1QFY2023, driven by topline improvement across its businesses.

From this, a net profit of RM42 million, equivalent to 7.32 sen per share, was derived. 

Mismatched expectations between show units and actual units have become fertile grounds for contention between developers and purchasers.

UEM Sunrise Bhd will be exiting the South African market with the proposed disposal by its indirect wholly owned subsidiary UEM Sunrise South Africa Proprietary Ltd of an 80.4% stake in Roc-Union Proprietary Ltd and claims of total shareholder advances worth 118.4 million rand (RM29.5 million).

IOI Properties Group Bhd closed its financial year ended June 30, 2023 (FY2023) with net profit doubling to RM1.39 billion from RM686.74 million in FY2022, thanks to a 26% increase in operating profit in its property investment portfolio and a fair value gain that contributed RM716.8 million, while revenue was largely unchanged at RM2.59 billion.

Several real estate developer stocks caught investors’ interest in Monday (Aug 28) morning trade, following Putrajaya’s unveiling intention to turn Johor’s Forest City, developed by China’s beleaguered Country Garden, into a special financial zone.

It also posted higher unbilled sales of RM3.8 billion as at June 30, versus RM3.6 billion as at Dec 31, 2022.

Co-working and flex space provider WORQ officially launched its seventh co-working space in Menara UOA Bangsar, Kuala Lumpur last Friday (Aug 25).

More catalytic developments will likely shift to the vicinity of the Malaysia-Singapore Second Link as there is more land and well-developed infrastructure and connectivity, said RHB Research in a note on Monday (Aug 28).