Property News

I-Berhad is shaping up its i-City project in the heart of Selangor's golden triangle with a new wave of development and investment in Artificial Intelligence (AI) technology. Executive chairman Tan Sri Lim Kim Hong told NST Property that in spite of a challenging market environment, I-Berhad will continue to invest in i-City because of strong investor confidence in the development. The ...

 The Malaysian economy is expected to see a contraction -2.0% at its worst and growth of 0.5% at its best in 2020, compared to 4.3% in 2019, against a highly challenging global economic outlook. Bank Negara Malaysia (BNM) in its 2019 Economic Monetary Review on Friday said the domestic economy will be impacted by the necessary global and domestic actions taken to contain the ...

 Mah Sing Group Bhd  is on track to achieve its RM1.5 billion sales target for this year, having achieved RM1.13 billion in sales in the nine-month period ended Sept 30, 2019. In a statement today, the property developer said its balance sheet remains healthy, with cash and bank balances of approximately RM1 billion which allows the group ...

Tropicana Corporation Bhd will continue to focus on delivering long-term value to its stakeholders by targeting new launches with a gross development value (GDV) of RM3 billion in the financial year ending Dec 31, 2020 (FY20).  These new launches, which are expected to contribute positively to the group’s earnings in the coming year, include the strategically-located ...

UEM Sunrise Bhd expects to garner up to RM4 billion in potential unbilled sales in the next two years from the groups ongoing and new projects, said managing director and chief executive officer, Anwar Syahrin Abdul Ajib. The leading property developer aims to launch new projects with a gross development value (GDV) of RM2 billion this year, in addition to RM1.23 billion worth of ongoing as well ...

MAH SING GROUP BHD has completed an issuance of secured and unrated sukuk murabahah of RM600mil in nominal value under the sukuk murabahah programme. The secured and unrated Islamic medium term notes has a tenure of five years and carries a fixed profit rate of 4.35% per annum payable semi annually. The sukuk murabahah issuance has been oversubscribed, the company said in a filing with the ...

LOSS-MAKING AVILLION BHD has received an offer for its land in Port Dickson from a China-based investment group. Sources say that a group called Guangxi East Hangyang Investment Group has made an offer of about RM380mil to purchase six parcels of land that Avillion owns in Port Dickson, Negri Sembilan. The offer includes the piece of land that houses one of Avillion’s main ...

 MAH SING GROUP BHD is aiming for a minimum sales target of RM1.6bil for 2020 with a key focus on the affordable homes segment as around 84% of its target is from residential properties priced below RM700,000. In a press release issued yesterday, Tan Sri Leong Hoy Kum said affordable homes located at strategic locations remain highly sought given the growing interest from young ...

KUALA LUMPUR, March 23 -- Access to affordable housing is more of a demand-supply issue which calls for a carefully designed strategy of policy intervention rather than the general perception of access to financing. On the supply side, the housing market has not provided an adequate supply of affordable housing for the lower and middle-income households. In 2014, the shortage of affordable ...

KUALA LUMPUR (March 2): Bank Negara Malaysia maintained the overnight policy rate (OPR) at 3% as the central bank evaluated risks to the country's economic growth and inflation. Bank Negara said in a statement today its monetary policy committee (MPC) maintained the OPR at 3%, a level deemed accommodative and supportive of economic activity. "At the current level of the OPR, the stance ...