E&O Finalising Concept For 2nd Phase of Seri Tanjung Pinang

E&O Property Development Bhd is finalizing the concept plan for the second phase of its Seri Tanjung Pinang (STP) project in Pinang. The first phase has a gross development value (GDV) of RM2.6 billion and some RM600 million worth of properties have been sold.

(2-02-2008 New Straits Times)

Ivory Earmarks RM70m To Revive Fettes Villa Project

Penang based Ivory Properties Group – which is eyeing a listing on Bursa Malaysia’s main board by the end of this year-is targeting to revive the abandoned “Fettes Villa” project on the island in three years. The project, which started in 1995 and scheduled for completion in 1997, was stalled in 1996 and affected 582 buyers. It comprises about 900 condominium units, low medium cost (LMC) apartments and 20 shoplots. Read More

(2-02-2008 New Straits Times)

Government Gives Sabah A Kick Start

Property Boost: The property sector will benefit from developments in the SDC as it should benefit also from the other three development corridors due to the better infrastructure being build, greater job opportunities and higher income levels. For instance, Waterfront Urban Development Sdn Bhd (WUD) has unveiled its RM500mil Kota Kinabalu City Waterfront (KKCW) an integrated mixed development in Kota Kinabalu while SP Setia Bhd has announced an RM1bil Tanjung Aru mixed residential and commercial development.

(2-02-2008 The Star)

Bina Puri Unit Wins Condo Job In Thailand

Bina Puri Holdings Bhd said its Thai subsidiary Bina Puri (Thailand) Ltd has been awarded a RM81mil contract to build two condominium blocks comprising 810 units in Bangkok.The construction period was 21 months, the group said in a statement. The group's total book order in Thailand currently.

(2-02-2008 The Star)

Axis REIT Acquiring Assets For RM27mil

Axis Real Estate Investment Trust (Axis REIT) said its trustee OSK Trustees Bhd has signed sale and purchase agreements with vendors to acquire assets for RM27mil.The assets are a single-storey detached factory with ancillary buildings and a one-storey warehouse building with a 3-storey office and guardhouse and ancillary buildings.Axis REIT said in a statement the leasehold properties were in the Pasir Gudang industrial area developed by Johor Corp.Axis REIT manager, Axis REIT Managers Bhd, intends to fund the acquisitions through a recent capital raising exercise, in which 50 million new units were successfully placed out.

(2-02-2008 The Star)

AP Land Plans RM680mil Projects In Malaysia, China

PETALING JAYA: Asia Pacific Land Bhd (AP Land), which finalised the RM680mil sale of City Square Centre to Macquarie Global Property Advisors last year, will be launching RM680mil worth of properties this year in Malaysia and China.The launches include a mixed development in Changshu, China with a gross development value (GDV) of RM420mil, MyHabitat Tower 2, a 38-storey tower with 215 units with a GDV of RM220mil in Kuala Lumpur and 80 high-end villas with a GDV of RM40mil in Bandar Tasik Puteri near Rawang. Joint managing director Low Su Ming said the Changshu project would take off in the middle of the year, if everything went according to plan.She said the venture into China was part of the company's diversification policy for its property development division.Low told StarBiz that further announcements would be made in March on AP Land's two acquisitions of oil palm plantation land totalling 36,000ha in late November last year and January this year.

(2-02-2008 The Star)

Naluri Purchase To Position Atlan As Developer

ATLAN Holding Bhd’s acquisition of Naluri Corp Bhd will help position the group as a property developer and a duty free shop operator. Naluri will be delisted and privatized after the acquisition. The completion of the take over will place some RM700 million worth of properties, which include vacant land, commercial properties and apartments, under Atlan. In Penang, Nalurim via unit Blossom Time Sdn Bhd, is currently involved in a RM400mil landed and high rise property development on a 65-acre site in Batu Ferringhi.

(2-02-2008 The Star)

Mutiara Goodyear Takes Over Jurus Positif

Mutiara Goodyear Development Bhd has inked a RM27.6 million deal to purchase 50 per cent of property company Jurus Positif Sdn Bhd. With the deal, the company will take over the RM160 million Taman Mutiara Gombak housing development in Selangor. Mutiara Goodyear will also control a 4.6 acre commercial development site in Bandar Sunway, Petaling Jaya.

(2-02-2008 New Straits Times)

AmanahRaya Aims To Increase Rental Yield

By embarking on a strategy to expand the lettable areas of properties in its portfolio, Amanah Raya Real Estate Investment Trust (AmanahRaya REIT) –the first government –owned REIT company to be listed on Bursa Malaysia- hopes to improve its performance. With an asset size of RM649 million, the REIT, which owns 13 properties, will offer an annual yield of about 6.9 per cent based on its initial public offer price of 94 sen for the financial year ending Dec31, 2007.

(2-02-2008 New Straits Times)

Quill Shows How To REIT It Well

Going strong on the acquisition trail since listing has enabled Quill Capital Trust to surpass it own expectations. The stellar performance is mainly due to income received from its acquisitions of Wisma Technip and several commercial units in Plaza Mont Kiara, both in Kuala Lumpur.

(2-02-2008 New Straits Times)

UOA Pantai Injected Into REIT

Located on a 0.89 acre freehold plot in Jalan Pantai Jaya, UOA Pantai is a five storey office building with two mezzanine floors and three basement car-parking levels. Its nett lettable area of 157,481 sq.ft, is currently 86 per cent occupied, with the Ministry of Housing and Local Government occupying two-thirds of the rented area.

(02-2-2008 New Straits Times)