Property & Real Estate news in Academy Badminton Malaysia Abm In Bukit Kiara Kuala Lumpur
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Kenyalang Smart City in Miri courts Norway for new growth corridor
Kenyalang Smart City (KSC) in Senadin, Miri, is seeking Norwegian involvement in its RM10.5 billion, 548-acre smart-city development. Imasa Dinasti Sdn Bhd chairman Ar. Teo Ah Khing met Norwegian Ambassador to Malaysia and Brunei Marianne Fosland at the Royal Norwegian Embassy in Kuala Lumpur to discuss cooperation in technology, sustainability and regional connectivity. The move follows a July Memorandum of Understanding with Muara Port Company to link KSC with Muara Port in Brunei.
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Foreign businesses push up rents in Mont Kiara and Sri Hartamas
In Kuala Lumpur's Mont Kiara and Sri Hartamas areas, an influx of Korean and Chinese businesses is driving up commercial rents, with some newcomers offering well above asking prices for shop lots. Local SMEs say landlords now expect unrealistic rents, making it hard for them to compete.
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Businessman says he only learnt shoplots were Bumiputera lots 16 years after buying
A 61-year-old businessman says he bought two four-storey shoplots at Kota Damansara Signature Park in 2010 without being told they were Bumiputera lots, and found out only when he tried to sell one. He has lodged a police report against the developer and says he must now pay the Selangor government to convert the property to non-Bumiputera status.
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Paramount Corp opens 11th Co-labs Coworking outlet at Sunway Square
Paramount Corp Bhd has opened its eleventh Co-labs Coworking outlet at Sunway Square Corporate Tower 1 in Petaling Jaya. The 19,000 sq ft space on Level 9 offers 268 seats and is currently 30% occupied, with two more multinational companies expected to bring it to 50% by month-end. Two more outlets are planned next year in Johor Bahru and the Klang Valley.
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Taman Gasing Indah terrace house sold for RM850k after two days
A double-storey terrace house in Taman Gasing Indah, Petaling Jaya, Selangor was sold for RM850,000 just two days after listing. The buyers were drawn to its refurbished condition, freehold status and price about RM200,000 below market. A similar unit sold for RM790,000 in October 2022, while average asking prices in the area are around RM1.17 million.
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Chin Hin Property enters industrial segment with RM449m Kota Damansara hub
Chin Hin Group Property Bhd has entered the industrial property development segment with The NeX, an integrated industrial-commercial hub in Kota Damansara with an estimated GDV of RM449.4 million. The project follows shareholders' approval of the group's RM66 million acquisition of a 16,222 square metre leasehold industrial site. The development is expected to be completed by 2029.
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Overpricing may hurt developers' financing approval, bank warns
At the Rehda Institute conference at Wisma Rehda, Kelana Jaya on Sept 8-9, OCBC Bank Malaysia warned that setting selling prices too high can lower a developer's chances of getting project financing approved. The bank also weighs rising construction costs, breakeven sales above 85% and the developer's track record before lending.
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Office unit at MOF Inc Tower in KL rented for RM80,130
An office unit at MOF Inc Tower in Kuala Lumpur was leased for RM80,130 per month. The tenants were attracted by the fully furnished unit and suitable rental terms for their expansion plans. The average asking rate for similar units in the building is RM50,351.18 per month.
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Kwasa Land seeks approval to turn 60 acres of commercial land in Kwasa Damansara into homes
Kwasa Land, an EPF subsidiary, plans to convert about 60 acres, or 13%, of commercial land in Kwasa Damansara into residential plots, pending local authority approval. The move aims to rebalance the township's master plan after market studies showed the commercial component was too high. The township targets over 60,000 residents in five years and 100,000 by 2050.
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WOLO Mont Kiara: 60-storey hospitality-led residences launching in Dutamas
Magma Kiara Sdn Bhd is developing WOLO Mont Kiara, a 60-storey mixed-use tower along Persiaran Dutamas. The project will feature 378 branded residences, 98 serviced suites, a 63-room hotel, and retail lots, with the hotel affiliated with Marriott Bonvoy's Design Hotels. The development emphasizes a hospitality-led residential concept with design-led interiors and is positioned near the future MRT3 Dutamas station.
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Regalton KLCC: 65-Storey Twin Towers Launch in KLCC Precinct, from RM977,200
Regalton KLCC is a new serviced residence development along Persiaran KLCC in Kuala Lumpur. The project features two 65-storey towers with 850 units, with indicative prices starting from RM977,200 and going up to about RM9.467 million.