News by Halim Yaacob

Eastern & Oriental Bhd (E&O) and Majestic Gen Sdn Bhd have proposed to acquire a freehold Jalan Kia Peng site in Kuala Lumpur for RM189.9 million, further expanding E&O's premium residential development landbank in the capital.

Paragon Globe Bhd (PGB) is positioning itself to capitalise on Johor's next phase of growth, underpinned by the Johor-Singapore Special Economic Zone (JS-SEZ), the Johor Bahru-Singapore Rapid Transit System (RTS) Link, expanding industrial activity and rising demand for digital infrastructure and data centres, as it broadens its business beyond property development into a stronger recurring-income platform.

Axis Real Estate Investment Trust (Axis REIT) is expanding its industrial portfolio with a RM113 million acquisition in Kedah, the latest in a series of acquisitions and development projects that strengthen its presence across Malaysia's manufacturing and logistics corridors.

Kerjaya Prospek Property Bhd (KPPROP) has outlined a serviced apartment development pipeline with an estimated gross development value (GDV) of about RM2 billion over the next one to two years, backed by a 60-acre strategic landbank with an estimated GDV of RM3.8 billion, according to its FY2026 annual report filed with Bursa Malaysia.

Kuala Lumpur's commercial property market remained resilient in the second quarter of 2026, with office and retail vacancies continuing to decline despite a surge in new industrial supply, as occupiers increasingly favoured higher-quality assets, according to JLL Malaysia.

Lagenda Properties Bhd has secured RM475 million through the inaugural issuance under its RM1.5 billion sukuk wakalah programme, marking the affordable township developer's first entry into Malaysia's Islamic debt capital market.

Country View Bhd posted a 15.3% increase in net profit for the second quarter ended May 31, 2026 (2QFY2026), despite lower revenue, as higher-margin property sales, a commercial land disposal and lower financing costs offset weaker sales volumes.

The milestone reinforces the developer's fast-turnaround execution model, with M Zenya launched just nine months after the land was acquired.

The programme will support the group's New Economy Venture (NEV) platform, including its RM1.25 billion discretionary, close-ended, Shariah-compliant NEV Fund.

Malaysia is one of a small number of countries in Southeast Asia that permits foreigners to hold freehold or leasehold titles to residential properties in their own names, without local partners, trust structures, or nominee arrangements.