In presenting its annual report on the review and outlook for the Malaysian property market in 2022 released on Jan 27, he stated that almost all sectors of the economy have been opened up and people have adjusted to the new normal of adhering to the SOPs. The uncertain and unstable political situation, with the changes in leadership of several State governments in recent months, however, remains a concern until a clearer picture emerges after the 15th General Election (GE15).

In contrast, its quarterly revenue slipped 4.98% to RM124.28 million from RM130.79 million on a year-on-year (y-o-y) basis mainly due to lower occupancy rates because of non-renewal of expired tenancies and some tenants deferring their rent commencement dates.

According to a statement on Wednesday (Jan 26), UDA president and chief executive officer Mohd Salem Kailany said that the projects will be offered in the middle of this year. 

According to a statement on Thursday (Jan 27), Wong will be leading the team in a wide variety of consulting projects, alongside Knight Frank Malaysia executive director of research and consultancy Judy Ong.

For the Klang Valley region, the report has noted that the market performance in 2021 had been subdued by the pandemic. Yet, during the downtime, property developers have used the time to increase their assets while other sectors within the property market look to reinvent themselves in order to survive the challenging times. 

Astaka Holdings executive director and chief executive officer Khong Chung Lun said that this is the company’s second MoU for a joint development project this year. 

“The virus titers of novel coronavirus (SARS-CoV-2) and its four variants were compared in a 45-litre test space with and without exposure to nanoe. As a result, the test confirmed an inhibitory effect of more than 99% activity of adhered viruses from all five types of viruses after two hours of exposure.”

According to the report, the continued political instability caused the forecast for the investment segment in 2022 to be sluggish. Sluggish recovery is also expected for the retail and office sectors, leaving only the residential market for bright recovery thanks to the property-related incentives under Budget 2022.

At the corporation’s outlook briefing on Wednesday (Jan 26), PKNS CEO Datuk Mahmud Abbas (pictured) said: “We are excited to roll out our development plans for 2022 and to see growth both economically and socially in the state of Selangor.”

There will be 2,960 units of serviced apartments with built-ups of between 400 sq ft and 600 sq ft, as well as 252 units of apartments for existing owners and residents of Kampung Baru properties, as part of their entitlement under the terms and conditions of the project.