Property developers in Johor can look forward to a better year ahead as the industry in the state is beginning to show signs of recovery.
The chairman of the Johor chapter of the Real Estate and Housing Developers Association (Rehda) Simon Heng said a majority of its members reported encouraging sales in the second half of 2010.
“Our members are upbeat that the momentum is likely to continue this year and probably until the first quarter of 2012, provided there are no unforeseen circumstances in the economy,'' he told StarBiz.
Heng noted that in the last Malaysia Property Expo (Mapex) held here in November, the 33 developers which took part in the four-day event raked in RM300mil in sales over a one-month period compared with RM140mil recorded in April.
SP Setia Bhd, which has established a strong foothold in Johor, continues to expand its landbank in the state by acquiring a land from Kenyalang Property Development Sdn Bhd for RM125.8 million.
In a filing to Bursa Malaysia on Friday, SP Setia said its subsidiary, Setia Indah Sdn Bhd, had entered into an agreement with Kenyalang for the acquisition, which is expected to conclude during the financial year ending Oct 31, 2011.
It plans to develop a mixed residential development project on the land, located in the Tebrau corridor.
Currently, it is developing four on-going project within the corridor, namely Bukit Indah Johor, Setia Indah Johor, Setia Tropika and Setia Eco Gardens.
It targets several land reclamation jobs in the country
Benalec Holdings Bhd, which is headed for a listing on the Bursa Malaysia's Main Market on Jan 17, aims to focus on securing larger marine construction projects.
Besides being an integrated marine construction company, it also provides vessel chartering services.
“We have targetted several land reclamation projects in Selangor, Penang, Johor and Malacca that would require the deployment of a large fleet of vessels.
“We believe that larger scale projects are potentially more profitable and would further enhance our business profile in the marine construction industry,” Benalec group managing director Vincent Leaw told StarBiz.
PROPERTY developer and investment firm Mulpha International Bhd (MIB) has come to be better known in Australia than in Malaysia, says its executive chairman Lee Seng Huang.
"Due to the quality of our assets Down Under, we are better known in the financial and property circles there," he says in a recent interview with StarBiz.
"In Malaysia, MIB suffers from legacy issues and is still perceived by some as being a trading company. But we have moved on to be a regional player. MIB is the largest Malaysian property player in Australia today," he says.
Barely a year and a half of Datuk Izzaddin Idris’ (pic) entry into the UEM Group as group managing director/chief executive officer, he has been involved in two major acquisition deals, both of which have taken place over the past month. One is the joint offer with the Employees Provident Fund to acquire highway operator PLUS Expressways Bhd, amid much brouhaha, while the other, more recently and drawing relatively less scrutiny, the takeover of property company Sunrise Bhd.
It is rare in Malaysia's corporate landscape when a large government-linked company ties up with a self-made entrepreneur, Chinese at that. Rarer still when the entrepreneur manages to do exactly that twice.
In January this year, Permodalan Nasional Bhd-controlled Sime Darby property group and Sunrise Bhd, controlled by Datuk Tong Kooi Ong (pic), signed a pact to jointly develop a RM1bil integrated commercial property project in Bukit Jelutong, Selangor.
Then to the surprise of most, UEM Land Bhd, controlled by Khazanah Nasional Bhd's wholly-owned UEM Group unveiled its takeover plans of Sunrise just over a week ago.
It was a glittering and memorable night last Thursday when the best of the country’s property developers were honoured at the Malaysia Property Award 2010.
Amid the glitz and glamour of the event was a strong message to property developers that profits aside, going “green” is not only the way forward but also will be the future demand for residential and commercial properties globally, including in Malaysia. The two most-talked-about issues were sustainable property developments and caring for the environment.
The highlight of the night was centred on the winner of the “Property Man of the Year Award 2010” Datuk Alan Tong, who is also dubbed Malaysia’s Condo King.
UEM Land Holdings Bhd, a 77.1% unit of UEM Group Bhd, is leveraging on its vast land bank in Nusajaya as its engine of growth and sustainable income over the mid- to long-term.
The company has about 8,300 acres left in Nusajaya, of which about 2,700 acres are currently being developed. It also has 98 acres in Cyberjaya which is currently been developed into a high-end gated and guarded community, Symphony Hills.
From just two projects in Nusajaya – Kota Iskandar Phase 1 and Nusa Idaman – with a total GDV of RM1.2bil in 2006, the company has steadily increased its project offerings in the past four years.
The recent release of Axis Real Estate Investment Trust’s (Axis REIT) results for the third quarter of the financial year 2010 (3QFY10) was seen by analysts as reflective of the group’s current performance despite it not including some of its recently-acquired properties.
RHB Research Institute Sdn Bhd (RHB Research) research analyst Loong Kok Wen revealed that the
group’s realised net profit of RM12.6 million was an increase of 22.8 per cent year-on-year and 3.9 per cent quarter-on-quarter.
“The headline net profit of RM24.3 million included a fair value gain amount in to RM11.7 million arising from the revaluation of seven properties,” the research team said.
Pusat komersial hijau bersepadu pertama SP Setia Bhd., Setia City, yang baru dilancarkan di Shah Alam, akan mempunyai nilai pembangunan kasar RM5 bilion apabila siap kelak dalam tempoh 10 hingga 15 tahun akan datang.
Presiden merangkap Ketua Pegawai Eksekutif SP Setia Bhd., Tan Sri Liew Kee Sin berkata pembangunan bercampur pegangan kekal bersepadu 96 hektar itu akan menjadi penanda aras berkaitan pembangunan hijau di Shah Alam.
"Ia terdiri daripada menara pejabat, hotel, pangsapuri perkhidmatan dan gedung runcit dengan semua elemen konsep hidup, pelajar, kerja dan permainan," katanya semasa pelancaran rasmi Setia City, hari ini.