The group, via its wholly-owned unit Advancecon Infra Sdn Bhd (AISB), has accepted the Letter of Acceptance from Sime Darby Property (Bukit Raja) Sdn Bhd for the appointment of AISB as the contractor for the proposed construction and completion of earthworks and other related works for the development of Phase 2 (R6, R8, R9, and C5) at Bandar Bukit Raja 2, Kapar district. 

Noteworthy:

• Freehold
• Semi-furnished 
• Built-up: 5,280 sq ft
• Land size: 1,600 sq ft
• Six washroom
• Accessibility: Easy access to multiple highways such as the Federal Highway, Shah Alam Expressway (KESAS), New Pantai Expressway (NPE), SPRINT Highway, New Klang Valley Expressway (NKVE) and walking distance to Taipan LRT station. 

When: January 2022

Speaking at MRT Corp’s media briefing, its chief executive officer Datuk Mohd Zarif Hashim (pictured) said the project’s construction cost is expected to be RM31 billion pending confirmation after the completion of the open tender exercise.

Respondents in the survey expect construction costs to surge an average of 19% in 2022 due to rise in prices of building materials, wages and financing costs.

The minister told the media that the jobs will be awarded in the fourth quarter of this year.

“In 1H22, we’re still faced with high numbers of daily infections, so people are looking forward to better times later in the year. I think everyone is hoping that the pandemic is going to be behind us by the second half of the year,” Rehda acting president Datuk N K Tong (pictured) said during a virtual presentation of the “Rehda Property Industry Survey for 2H2021 and Market Outlook 2022” on Tuesday (March 15).

The number of units sold compared to those launched translated into a sales performance improvement of 11 percentage points to 50% in 2H21 versus 39% in 1H21.

The research house said in a note that it sees heightened prospect of a stagflation in the sector due to the Russia-Ukraine conflict which has driven up global commodity prices amid prolonged supply chain disruptions.

“Sunway REIT is our top pick for the REIT sector underpinned by: (i) its diversified investment portfolio which encompasses retail malls, hotels, offices, a university, and hospitals that spread across Malaysia; (ii) strong occupancy rates which have exceeded 90% in retail assets; and (iii) stable rental income generated from the services and industrial segments,” the research house said while maintaining its fair value for the stock at RM1.66. 

In a statement on Sunday (March 13), the group said its property development subsidiary NCT Platinum Sdn Bhd’s project was previously known as the Genting Valley project comprising 665 bungalow plots over five phases, which was abandoned for almost 17 years by the initial developer.