Foreign investments and dynamic urbanisation will drive market With new property cooling measures introduced in Singapore and China, experts say real estate investors in these two places may be looking beyond their borders to find good buys. Faced with new limitations on loans and options for affordable properties, property investors in these countries are shifting their sights to other parts of Asia...
Malaysia Property
Property developer City Developments Limited (CDL) is in talks to sell a land site in shopping belt Jalan Bukit Bintang for a price tag of more than RM3,000 ($1,282) per square feet (psf), a fee that could become Malaysia's most expensive land deal, according to the Malaysian newspaper Business Times. The sale of the land parcel in downtown Kuala Lumpur could top Malaysian developer Sunrise Berhad's...
Malaysia's southern economic region Iskandar expects strong investment flow from neighbouring Singapore, despite an expected economic slowdown in the second half of the year. In an interview with Channel NewsAsia, the CEO of Iskandar Investment, Arlida Ariff, said she hopes to ride on improved bilateral ties to woo Singapore investments. Spanning over 2,200 square kilometres, the Iskandar economic region...
CapitaMalls Asia (CMA) is buying a Malaysian mall from an associate firm of Metro for S$91.5 million after the Metro unit exercised a put option. The move by Metro's Gurney Plaza requires CMA's CapitaRetail Gurney to buy the property called Gurney Plaza Extension. Located in Penang, Gurney Plaza Extension is a nine storey retail block. It is part of the Gurney Park development and has about 12,500...
Conglomerate Fraser and Neave says its Frasers Hospitality unit has established a significant presence in Malaysia, with the grand opening of its maiden property, Fraser Place Kuala Lumpur yesterday. The project is the first of two serviced residences to open in the heart of the city. Fraser Place Kuala Lumpur is located in the prestigious 'Golden Triangle' and within walking distance of the iconic...
YTL Pacific Star, the manager of Starhill Global REIT, said it is buying two properties in the Malaysian capital Kuala Lumpur for a total of S$450 million. The two properties are the Starhill Gallery and Lot 10 Shopping Centre along KL's main shopping street, Jalan Bukit Bintang. Starhill Gallery will be acquired for about S$275 million and Lot 10 will be bought for S$175.2 million. The acquisitions...
CapitaLand's wholly-owned serviced residence business unit, The Ascott, has launched its first Citadines serviced residence in Malaysia. The property, called Citadines Kuching Uplands, is scheduled for completion by the first half of 2012. It is located in the Jalan Simpang Tiga area, which is set to be a hub for education and local federal government administration offices. With the latest launch,...
A new work group has been formed to study the joint development of an iconic economic project in Iskandar Malaysia. This is a follow-up to the discussions between the prime ministers of Malaysia and Singapore in May this year. They mooted the idea of a bilateral project in Iskandar Malaysia as a showcase of the commitment of both countries to build a strong, productive and enduring relationship. The...
Implementing easy transport links between Singapore and the mega Iskandar Malaysia project is one of the aims of the Joint Ministerial Committee. Iskandar Malaysia's CEO, Harun Johari, said this when asked about the progress of the rail link between Singapore and Iskandar Malaysia. Malaysian Prime Minister Najib Razak, who is in Singapore for an introductory visit, toured the project at Nusajaya before...
Property developer CapitaLand has acquired about 62 per cent of Sungei Wang Plaza, one of the most established retail malls in Kuala Lumpur. It paid about S$250 million for the purchase, which includes retail space and parking lots. Sungei Wang is a prime freehold property along the main Bukit Bintang shopping precinct in the Malaysian capital. The mall has close to 100 per cent occupancy and sees more...