Floods erode property value by 30%, say experts
The drop in property value is inevitable and among the options, owners can sell their existing assets to cut losses.
Editor's Pick
Gather Properties: EdgeProp can help us stand out
Gather Properties Sdn Bhd is excited about working with EdgeProp after signing a collaboration deal as the former feels the portal can be a big boost to its presence in the real estate segment.
Yong Tai turns profitable in 1QFY23
Yong Tai Bhd started its financial year ending June 30, 2023 (FY23) with a net profit of RM1.81 million for the first financial quarter ending Sept 30, 2022 (1QFY23), from a RM5.56 million net loss posted in the same period last year, mainly due to contribution from improved sales of completed units.
IOI Properties starts FY2023 with net profit triple than that of 1QFY2022
IOI Properties Group Bhd (IOIPG) recorded a stellar performance for the first quarter ended Sept 30, 2022 (1QFY2023), recording net profit of RM640.29 million, which was three times higher than 1QFY2022's.
UEM Sunrise posts net profit of RM20.35m in 3QFY22
UEM Sunrise Bhd posted a net profit of RM20.35 million or 0.4 sen per share in the third quarter ended Sept 30, 2022 compared to a net loss RM50.38 million or 1 sen per share in the same period last year on improved revenue contribution from the property development segment.
DONE DEAL: Factory, Seri Kembangan, Selangor
Noteworthy:
- Land size: 46,000 sq ft
- Built-up size: 25,000 sq ft
- Semi-furnished
- Nearby amenities: Convenience stores, schools, Amerin Mall, AEON Mall Cheras Selatan, The Mines Shopping Mall, LRT Sungai Besi,
- Accessibility :EKVE highway, SUKE highway, SILK highway
When: October 2022
IJM bags two building contracts in Penang for RM422.18m
The first contract is for the construction of a new chip assembly and testing facility with a value of RM341.39 million, while the second contract is for the construction of a 45-storey Maritime Signature commercial tower located at Karpal Singh Drive in Georgetown, valued at RM80.79 million.
Matrix Concepts' 2Q earnings down 2.4% as labour shortage weighs on construction activities
The group’s unbilled sales stood at RM1.4 billion as at Sept 30, 2022, providing earnings visibility over the next 12 to 15 months.
Scheduled 48-hour water supply disruption in Seberang Perai
About 197,851 consumers in Seberang Perai, Penang will be affected by a 48-hour scheduled water supply disruption starting Dec 2 to 4, said the Penang Water Supply Corp (PBAPP).
Axteria in two mixed development joint ventures with GDV totalling RM590 mil
Axteria Development's first joint-venture agreement is with Alpha Astral Properties Sdn Bhd and involves a mixed development on 8.30 ha in the Mukim of Tebrau, Johor Bahru. The second joint venture agreement is with Sumber Alpha Sdn Bhd to undertake a 0.80 ha freehold mixed development in Plentong mukim, Johor Bahru comprising 474 SoHo units and 35 shoplot units.
