THERE was renewed interest from investors in property stocks last week, enthusiasm not seen since a sell-off of these stocks in the region when the subprime loan crisis erupted in the US in October last year. One of the factors for this re-discovered interest is the trend of en bloc sales of commercial and condominium properties projects to institutional investors. Mah Sing Group Bhd's sale of The Icon@Mont Kiara and the East Wing of The Icon@Tun Razak late last year, for instance, produced revenue to be booked of about RM540mil. This is equivalent to the revenue of half of a RM1bil township that generally takes at least a few years to develop.
(14-01-2008 The Star)
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