INS Bioscience to buy property

INS Bioscience Bhd (INSBIO) through its subsidiary, Easy Pha-Max Marketing Sdn Bhd (EPMM), has entered into an agreement with Flora Development Sdn Bhd to acquire a four storey shop office for RM5.45 million.The property, located in Bandar Puteri Puchong, will be used to accommodate anticipated future growth in business for EPMM, the company said in a filing to Bursa Malaysia yesterday.EPMM is principally involved in general trading, export, import of household and office equipment.“This acquisition will result in rental savings and the benefit of acquiring a readily available property will outweigh the longer time needed to construct a shop lot,” it said. - Bernama

(New Straits Times 4-3-2008)

Regenerating Petaling Jaya

SOON to become a prominent landmark fronting Jalan Universiti, Petaling Jaya, Jaya One will be among one of the larger development in Section 13, says developer Tetap Tiara Sdn Bhd. Its executive director Charles Wong says Section 13 is expected to have among the first run of new commercial projects under the “ongoing regeneration of Petaling Jaya”. The other areas that will be undergoing various changes include SS2, Kelana Jaya, and Section 52, commonly known as PJ New Town.(There are plans to convert some of the industrial pockets into commercial title by the local authorities.)“The term 'regeneration' encompasses a host of changes. This include a change in the buildings in the area, a change in identity from industrial to commercial, for example, all of which boils down to a change in lifestyle for the people in that area,” Wong says.Wong says Section 13 comprises 200 acres and Jaya One will occupy just over 11 acres of it. The first phase is now complete and is expected to be fully tenanted by the middle of this year.

Commercial property still a good buy

DUE to the tight supply and continued foreign interest in purchasing, on an en bloc basis, purpose-built Grade A office buildings in Kuala Lumpur in the past year, the commercial property segment of the market will remain a good bet in the short term. Besides foreigners, real estate investment trusts (REITs) and property funds have also been on the hunt for commercial properties. The Macquarie Global Property Advisors' acquisition of the City Square Centre for RM680mil from Asia Pacific Land Bhd announced in mid-2006 and completed last year among one of the first. The quarterly market reports of a number of property consultancies have also noted the continued interest among foreigners, in particular Middle Easterners and Singaporeans, in downtown Kuala Lumpur's commercial property development projects or in older Grade A office buildings. Read more

(The Star 18-2-2008)

Commercial Values & Rental in KL Touch New High

UNDER the Kuala Lumpur Structure Plan 2020, the city has five goals to achieve in order to assume its place as a major global city. First on the list is to enhance the role of the city as an international commercial and financial centre. Other goals in the plan are to create an efficient and equitable city structure, enhance the city's living environment, create a distinctive identity and image for the city, and have efficient and effective governance. Judging from the amount of property development activity going on in downtown Kuala Lumpur, especially in the construction of luxury condominiums and serviced apartments in the vicinity of the Kuala Lumpur City Centre (KLCC), at least one aspect of the plan is being implemented.

(4-2-2008 The Star)

QSR to spend RM20m on new Pizza Hut, KFC outlets

FAST food chain operator QSR Brands Bhd plans to open 20 new outlets this year to further strengthen its lead in the segment, and at the same time help boost the group's earnings for 2008. At present, its brands such as Pizza Hut commands 70 per cent of the pizza market in Malaysia while KFC Holdings Malaysia Bhd which is 43 per cent owned by QSR has over 460 quick service outlets in Malaysia, Singapore, Brunei and Cambodia. In the first nine months ended September 30 2007, QSR recorded a net profit of RM48.8 million on a revenue of RM339 million.

(30-1-2008 New Straits Times)

Developer counts on Southgate

MAH SING Group Bhd foresees good response for its contemporary European-designed Southgate commercial properties in view of the high demand and short supply of commercial properties in Kuala Lumpur.Deputy chief operating officer Andy Chua said the commercial market is facing a shortage of supply and the demand for good office space, especially in Kuala Lumpur, was “very high”.“For example, he said, Menara YNH was sold for RM1,230 per sq ft, Glomac tower for RM1,120 per sq ft and Bumiputra Commerce building for over RM700 per sq ft.

(28-1-2008 The Star)

Mah Sing project draws foreign interest

MAH Sing Group Bhd, which is actively involved in commercial developments, is in talks with three potential foreign buyers for en bloc sale of two of the five blocks in its Southgate Commercial Centre in Kuala Lumpur.It has begun talks early this month with buyers from London, Singapore and the Middle East, who are keen to purchase the seven-storey 900,000 sq ft Apex Block.The company has also started to approach buyers for the en bloc sale of the main block called Corporate Building, an eight-storey building with 218,000 sq ft built-up area. It fronts Jalan Tun Razak/Jalan Sungei Besi.The Corporate Building and Apex have a floor plate of about 26,000 sq ft and 16,000 sq ft respectivelyThe freehold development's five blocks are called Corporate Building, Apex, Vox, Vivo and Verves.

(28-1-2008 The Star)

Mah Sing: All components in Southgate for sale

PROPERTY developer Mah Sing Group Bhd says all components of its RM256 million Southgate Commercial Centre on Jalan Tun Razak, Kuala Lumpur, are for sale. The three remaining blocks of the development, namely Vox, Vivo, and Verve, will offer 226 office suites and 63 retail lots. Prices for office suites (range from 592 to 1704 sq) start at RM430 per sq ft, while prices for retail lots (535 to 2095 sq ft) begin from RM800 per sq ft.

(28-1-2008 New Straits Times)

KFH to finance The One cyber city

PENANG: Kuwait Finance House (M) Bhd (KFH) is providing finance for Ideal Capital Intelligence Sdn Bhd's RM500mil The One, Penang Cyber City commercial project in Bayan Baru. The One, located on a 5.2ha leasehold site, comprises smart serviced suites, corporate office suites, corporate retail units, terraced shophouses and bungalows. Besides commercial properties, The One would also house Malaysia's first technology museum.Some 57 bungalows and terraced shophouses, priced between RM281,000 and RM2mil, were launched recently, Ooi said, adding that over 80% of them had been sold.

(23-1-2008 The Star)

Malton Plans RM2b Property Launches

Malton Bhd plans to launch residential and commercial projects worth RM2.1 billion in gross development value (GDV) over the next three years. On the domestic front, Malton expects to come up with sales previews for residential and mixed development projects in the Klang Valley by middle of this year.

(18-1-2008 New Straits Times)

WCT In Talks On En Bloc Sales Of The Paradigm

PETALING JAYA: WCT Land Bhd is in talks with foreign and local parties for possible en bloc sales of the properties it is developing under its first high-rise commercial project, The Paradigm. The Paradigm consists of four corporate office towers, a block of office suites and a retail mall, with an estimated total gross development value of RM1.26bil with net lettable area (NLA) of about 2.4 million sq ft. The project has three main components - The Escalade corporate office towers, The Ascent corporate office suites and The Paradigm Mall.

(11-01-2008 The Star)

WCT Land Unveils High-Rise Commercial Project

WCT Land Bhd, the property arm of WCT Engineering (WCTE) Bhd, has unveiled its first high-rise commercial project, dubbed "The Paradigm", which it expects to complete in six to seven years.The development, which covers 5.02ha of prime leasehold land, comprises four corporate towers, a block for office suites and a five-level retail mall, with total net lettable area of 2.4 million sq ft. WCT plans to launch the first tower comprising office suites by second half of 2008. The rest of the properties will be launched from next year.

(10-1-2008 New Straits Times)