News by M

Prices for residential properties, especially new launches, are set to increase moving forward, said Knight Frank in its newly published Real Estate Highlights 1st
half of 2022 which features the findings of the property market performance across the Klang Valley, Penang, Johor Bahru and Kota Kinabalu.

Entomo Malaysia Sdn Bhd and Raveenderen Ramamoothie are to purchase all Hasrat Budi Sdn Bhd’s shares in MYSJ Sdn Bhd — the operator of the MySejahtera application — for RM24 million plus a premium.

KIP Real Estate Investment Trust (KIP REIT)’s net property income (NPI) for the fourth quarter ended June 30, 2022 (4QFY22) dropped 5.8% to RM14.2 million, down from RM15.08 million a year ago, due to higher utilities expenses and lower gross revenue.

Pavilion Real Estate Investment Trust (REIT) net property income (NPI) for the second quarter ended June 30, 2022 (2QFY22) jumped 74.5% to RM83.11 million, up from RM47.62 million a year ago, as revenue was higher while operating expenses declined after economic reopen.

The Battersea Power Station here will welcome another celebrated name into its assembly of international offerings. Henrique Sá Pessoa, one of Portugal's most critically-acclaimed chefs, will launch JOIA, an Iberian restaurant and bar, later this year at the UK's first art'otel London Battersea Power Station.

Gamuda Land signed a memorandum of understanding (MOU) with Universiti Malaya (UM) and Universiti Kebangsaan Malaysia (UKM), and a memorandum of collaboration (MOC) with Universiti Kuala Lumpur (UniKL), at Gamuda Cove on Wednesday (July 27).

The recovery momentum for IGB Real Estate Investment Trust (REIT) is expected to continue, despite several headwinds such as the overnight policy rate (OPR) hike as well as inflationary pressure, according to analysts.

Noteworthy:

• Freehold
• Built up: 1,800 sq ft
• Land size: 1,900 sq ft
• 4 bedrooms, 3 bathrooms
• Semi-furnished
• Amenities: TTDI commercial hub, shopping centres like 1 Utama, IPC and The Curve
• Accessibility: Damansara-Puchong Expressway (LDP), New Klang Valley Expressway (NKVE) and TTDI MRT station

When: March 2022

Noteworthy:

• Leasehold
• Unfurnished
• Built-up: 2,824 sq ft
• 8 bathrooms
• Amenities: Galaxy Ampang Mall, F&B outlets, convenience stores, clinics
• Accessibility: Middle Ring Road 2 (MRR2), Jalan Ampang, Sungai Besi Expressway and Ampang-Kuala Lumpur Elevated Highway (AKLEH)

When: May 2022

AME Elite Consortium Bhd has entered into an underwriting agreement with I REIT Managers Sdn Bhd, RHB Trustees Bhd and Hong Leong Investment Bank Bhd for the initial public offering (IPO) of AME Real Estate Investment Trust (REIT).