As the Malaysian economy lurches inexorably towards an economic contraction, the prospects for the property sector do not look encouraging. In Johor, the recessionary pressures afflicting the region, especially neighbouring Singapore, may mean that the southern state’s property market could experience greater stress. However, in the middle of every difficulty lies opportunity.
JOHOR BARU: Cash-rich homebuyers are now in a "strategic" position to cherry-pick properties in Johor, says KGV-Lambert Smith Hampton Johor’s director Samuel Tan.
HONG KONG: Hong Kong's office occupancy cost is the highest in the world in 2009, according to the latest Global Office Real Estate Review published by Colliers International.Despite the year-on-year (YoY) drop of 4.8% in occupancy cost from US$181.73 psf in the Central Business Districts (CBD) to US$178 psf, Hong Kong has moved from second to the top in the ranking of 50 countries.Colliers H
Sky bridges and covered walkways between buildings may not be a common sight in Malaysia but this looks set to change.In the just unveiled RM60 billion mini-budget designed to shore up our economy amid a global contraction, RM100 million has been allocated to build sky bridges and covered walkways between buildings, mainly in the Golden Triangle of Kuala Lumpur.All Malaysians would be familiar
Property hot spots in the Klang Valley are losing their shine in the current property downturn.According to Ho Chin Soon (picture) of Ho Chin Soon Research Sdn Bhd, locations like the Kuala Lumpur’s Golden Triangle and the exclusive Mont’Kiara enclave, for example, are less hot these days.
Despite the tight office supply situation in the Klang Valley, office rent had showed signs of levelling off in 4Q2008. Rents are expected to be on a downward trend in the later part of this year due to weaker demand for occupancy.“Basically, there is no expectation for growth in office rent for the coming two years.
Paramount Corp Bhd, the developer of the Bandar Laguna Merbok resort township in Sungai Petani, Kedah, and Kemuning Utama in Shah Alam, Selangor, has moved into non-residential properties, in line with the group’s decision to diversify its products.
Enhancing core business strategies Following weeks and repeated rounds of explanation and clarification, the uproar provoked by two news items on Sime Darby is abating. First, it was the conglomerate’s interest in taking over Institut Jantung Negara (IJN).
PETALING JAYA: Office rental in Kuala Lumpur's central business district (CBD) and Golden Triangle is expected to soften by about 10% by the end of the year, according to Knight Frank Malaysia executive director Sarkunan Subramaniam.
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