Transaction news in Gsc Mid Valley
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Lot 530 in Jalan Jati, KL up for tender at RM2,500 psf
An almost 11,000 sq ft freehold parcel known as Lot 530 in Jalan Jati, Kuala Lumpur, is being sold via tender with an asking price of about RM2,500 psf, or roughly RM27 million. The land sits near Bukit Bintang and TRX, and the tender closes on Sept 11.
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Businesswoman says she was duped into buying Bumiputera-quota shop lots in Damansara
A woman in her 60s claims she was misled by a developer into buying two commercial shop lots in Damansara in 2010 that were actually Bumiputera-quota units. The status only surfaced when she tried to sell the premises, and she now faces a transfer penalty to the Selangor state government. MCA and SOAM are pressing for an investigation under Section 420 of the Penal Code.
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Country Heights subsidiaries' properties up for judicial auction with RM207.8m reserve prices
Two properties owned by wholly owned subsidiaries of Country Heights Holdings Bhd are set for judicial auctions with combined reserve prices of RM207.77 million. The larger asset, Mines Waterfront Business Park in Petaling, Selangor, carries a RM152.77 million reserve and is due for auction on Nov 4, while a 6.41-acre commercial parcel in Country Heights, Kajang, will be auctioned on Sept 21 with a RM55 million reserve.
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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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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.