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Size not the only factor for success of REITs
28 July 2010, By The Star
Analysts say other factors count too, such as management and asset quality.
The two major real estate investment trusts (REITs) listed on Bursa Malaysia this month - Sunway Real Estate Investment Trust (SunREIT) and CapitaMalls Malaysia Trust (CMMT), may have boosted the profile of Malaysian REITs (MREITs) and capture the attention of local and foreign investors, but size does not necessarily guarantee a better performance going forward, analysts said.
Danga Bay for year-end project
26 July 2010, By The Star
Iskandar Regional Development Authority (Irda) has chosen a waterfront area in Danga Bay, Johor Baru for the wellness township project in Iskandar Malaysia.
Johor Mentri Besar Datuk Abdul Ghani Othman, who is also Irda’s co-chairman with Prime Minister Datuk Seri Najib Tun Razak, said the site was one of the three identified for the project.
Khazanah Nasional Berhad and Temasek Holdings Limited will be jointly developing the project on the 202ha site on a 50:50 joint venture basis.
“We are now looking at the components of the project including the development cost and work is likely to start at the end of the year,’’ he told reporters at the opening of the RM70mil, 82-bed Columbia Asia Hospital Nusajaya @ Afiat Healthpark near here.
Johor developers keen to play integral role
26 July 2010, By The Star
PROPERTY developers in Johor want the Government to engage them in the consultation for and drafting of a plan to transform Johor Baru into a vibrant city.
Real Estate and Housing Developers’ Association (Rehda) chairman of Johor branch, Simon Heng, says the private sector should not be left out in the drawing up of the plan although the initiative was mooted by the Federal and Johor Governments.
“It will be good for all stakeholders if both the public and private sectors could work together to ensure the success of the project,’’ he says in an interview with StarBizWeek.
Heng urges the Johor government to open up state-owned land in the city centre for redevelopment projects via the open tender system instead of awarding the parcels directly to certain parties.
Johor Identifies Site For Wellness Township Development
26 July 2010, By Bernama
A 202.34-hectare site has been identified by the Johor state government for the development of a wellness township which will provide modern and alternative medicine and wellness services to Johorians and Singaporeans.
Johor Menteri Besar Datuk Abdul Ghani Othman said the site of the project to be initiated by two government-linked companies from Malaysia and Singapore, Khazanah Nasional Bhd and Temasek Holdings, will be facing the Strait of Tebrau, just beyond Danga Bay.
Abdul Ghani said initially three sites have been proposed but the one at the waterfront had been the preferred choice of the interested parties.
Memulihkan bangunan terbengkalai
19 July 2010, By Utusan Malaysia
Kerajaan negeri berusaha untuk memulihkan bangunan terbengkalai di bandar raya ini kerana ia telah memberikan impak negatif terutama dari segi imej, keselamatan dan pertumbuhan ekonomi di kawasan ini.
Pengerusi Jawatankuasa Perumahan, Kerajaan Tempatan, Kerja Raya dan Kemudahan Awam negeri, Datuk Ahmad Zahri Jamil berkata, pelbagai pihak termasuk Majlis Bandaraya Johor Bahru (MBJB) turut membantu mencari jalan penyelesaian supaya bangunan terbengkalai ini dapat dibangunkan dan dipulihkan semula selari dengan pembangunan Iskandar Malaysia.
Beliau berkata, lima inisiatif telah disediakan bagi memulihkan projek terbengkalai tersebut iaitu memberikan diskaun 50 peratus bagi bayaran mana-mana pelan pembangunan yang dimajukan dan mengecualikan wang amanah yang baru.
Why REITs should be the choice of investment
19 July 2010, By The Star
Real estate investment trusts (REITs) offer many advantages to investors who are keen to invest in the property market.
Axis REIT Managers Bhd chief executive officer Stewart LaBrooy said what was important now to REIT players was to educate them on the benefits on investing in REITs.
“We need to educate them as most of them are not really aware of the advantages, such as having a higher yield compared with some other investments,” he said yesterday at the Investor Insights into Malaysian REITs in 2010.
As a result of the lack of awareness on REITs, he said, the participation from Malaysians in REITs was still small compared with other countries.
Bandar Raya takes over as UEM partner
12 July 2010, By Business Times
Bandar Raya Developments Bhd, a Malaysian developer, said it will replace Dubai World’s Limitless Holdings Pte Ltd as UEM Land Bhd’s partner for a residential project in the country’s southern Johor state.
It will buy Limitless’s 60 per cent stake in Haute Property Sdn for a nominal sum and reimburse the Middle East company RM76 million, according to an exchange filing late yesterday. Haute Property is a special-purpose vehicle set up to undertake the development in Puteri Harbour, Nusajaya.
Encorp Strand to pull in the crowd
28 June 2010, By The Star
When Encorp Strand, in Kota Damansara, Petaling Jaya was completed in late 2007, there may have been some concern about who will be occupying these 265 units of shops and office space.
Today, most of the ground floor units are tenanted. The story of Encorp Strand, with a gross development value of RM1.34bil by Encorp Bhd is pretty much linked to Dataran Sunway, another commercial development located adjacent to it across the road by the Sunway group.
Dataran Sunway, of about the same size as Encorp Strand, was the first to take off. Because it was the first to market, it was popular with investors and tenants. Investors, seeing the popularity and vibrancy it generated, bought into Encorp Strand when it was put on the market.
Relocation a blessing for squatters
27 May 2010, By The Star
Relocating to the new flat units at Taman Sri Stulang here has been a blessing to many squatter residents who had to put up with small spaces, bad infrastructure and damaged facilities for years.
Housewife, Liah Dahlan, 52, said moving her new flat unit two years ago was a major difference from how her family lived before.
“We used to live at the Bukit Cagar flats which was very run down and all of us had to sleep in one room,” she said.
She was speaking to reporters after the launch of the relocation project for Malay villages in Iskandar Malaysia by Prime Minister Datuk Seri Najib Tun Razak on Saturday.
“Now we have three rooms, a clean and beautiful environment and basic facilities for the convenience of all.
Iskandar Residences sells 60 percent of units
26 May 2010, By Property Report
Malaysia´s premier waterfront property, Iskandar Residences have sold about 60 percent of its units.
The waterfront property is situated in luxury residential area in Danga Bay, Iskandar Malaysia, Johor. The development comprises a 38-storey twin residential towers with 262 units and 261 units in each tower respectively.
“We are focusing on SEA, especially Singapore and the Middle-East markets as the waterfront city living is a trend,” stated Mohd Yusri Hj Kasiron, General Managerfor Iskandar Waterfront Sdn Bhd, regarding the market that the company is targeting at.
He also confirmed that most of the buyers are Singaporeans as they find the prices attractive. Iskandar Residences prices start at RM450 per sq m for the unit.
