News by M

In 2015, new launches (in unit) dropped 19% as developers delayed their launches after a fall in take-up rate from 45% to 41%. Despite the rise in number and value of unsold units (which increased 16% and 56% respectively), it still remains manageable as the total of unsold units only represents about 1.6% of existing housing stock.

Cheras is seeing some exciting new developments such as MyTOWN Shopping Centre by Boustead Holdings Bhd and Ikano Pte Ltd as well as Sunway Velocity by Sunway Bhd.

A new man is in charge. Datuk Muhammad Ibrahim took the reins from Tan Sri Zeti Akhtar Aziz as Bank Negara Malaysia (BNM) governor on May 1.

In a filing with Bursa Malaysia yesterday, Gabungan AQRS said its subsidiary Gabungan Strategik Sdn Bhd had signed a joint-venture (JV) agreement with Monolight IBS Building System Sdn Bhd to construct, develop and complete the development of PR1MA homes with all the necessary amenities, utilities, facilities and infrastructure.

MWE said it had entered into two separate sale purchase agreements. The first was by its indirect wholly-owned unit Melati Mewah Sdn Bhd that will sell the 48.2ha lands in Mukim Raja, Petaling Jaya, Selangor, to Pristine Primawera Sdn Bhd.

The property is expected to sell for about £200 million (RM1.16 billion).

Las Vegas Review-Journal reported that Genting officials told regulators subtle refinements had been made to the Chinese-themed resort, which Genting said would include a 150,000 sq ft casino and open in 2019.

Vivocom announced to Bursa Malaysia today the builder via Vivocom Enterprise Sdn Bhd had signed a heads of agreement with developer De Facto Integrated Sdn Bhd.

Growth in average prices was more significant among the more affordable properties. The top performer by relative average price growth was Kelana Impian, with prices up 21.8% to reach RM341 psf in the 12 months to 1Q2015.