News by Racheal Lee

Retail space in the Klang Valley continues to grow despite declining sales, with new malls adding more than two million sq ft last year. Several more malls are set to be completed this year, such as Sunway Velocity Mall, Empire City Mall and myTown Shopping Centre.

Esque South Yarra in Melbourne is set to launch on April 2 in Australia. The project sits on a 5,000 sq ft commercial parcel and will offer 64 apartments and two penthouse units, with built-ups of 818 to 1,829 sq ft.

AXIS REIT Managers Bhd’s newly appointed CEO, Leong Kit May, enters the meeting room at the company headquarters in Menara Axis, Petaling Jaya, with a bright smile. The media-savvy CEO is quick to settle herself in for the photo shoot and interview with City & Country, answering questions confidently and clearly.

Eng Han Group’s portfolio includes Premiere Hotel in Bandar Bukit Tinggi, Klang; Wisma LYL in Petaling Jaya; Mesa Hill in Nilai, Negeri Sembilan; M City in Jalan Ampang; Aston Kiara 3 in Mont’Kiara and Nadayu 92 in Kajang.

OSK Holdings last year restructured its businesses under property, construction, hospitality, manufacturing as well as financial services and timeshare. In the revamp, OSK Property and PJ Development Holdings Bhd (PJD) were merged into one business entity with a single identity and brand and called OSK Property.

“We are beginning to see more auctioned properties in Johor and the number is gradually increasing,” said KGV International Property Consultants (M) Sdn Bhd director Samuel Tan.

Sold for: RM3.6 million or RM880psf; Concluded by: Freeman Woo Chee Meng of MIP Properties (012-656 7617); When: January 2016

Under the MoA, FELDA and Encorp are nominating Encorp Bukit Katil Sdn Bhd as the master developer of the township.

Property prices are expected to consolidate further to the House Price Index (HPI) 15-year, long-term average of 5.6%, according to independent economist Lee Heng Guie.