UMLand buying 70% of Bangi Heights

By BERNAMAKUALA LUMPUR: United Malayan Land Bhd (UMLand) has proposed to acquire a 70% stake in Bangi Heights Development Sdn Bhd from its subsidiary, Country Equity Sdn Bhd, for RM82.86mil. In a filing with Bursa Malaysia, OSK Investment Bank Bhd which is handling the acquisition, said UMLand and Country Equity had signed a conditional share [...]


NAZA TTDI eyeing land in Iskandar region

By THE STARJOHOR BARU: NAZA TTDI Sdn Bhd is scouting for land in Johor, its next destination for property development and first foray outside the Klang Valley. Group managing director Datuk Johan Ariffin said the company was looking for land here especially in Iskandar Malaysia. “Iskandar Malaysia offers good prospects for property developers with the [...]


Crisis not slowing down Gamuda projects

By THE STARKAJANG: Gamuda Bhd’s property arm Gamuda Land Sdn Bhd will continue with its projects despite the softening market. Managing director Chow Chee Wah said there were enough funds to complete its projects, some of which would be on a long-term basis. “Based on our experience during the last financial crisis, it is better [...]


Malls told to think of shoppers

By THE STARKUALA LUMPUR: Developers of hypermarkets should consider the needs of shoppers if they want to keep pulling in the crowds. Regroup Associates managing director Allan Soo said with the weaker market sentiment currently, hypermarkets needed to be more than just “faceless big boxes”. “There are too many poor quality malls around. Many of [...]


Property prices to weaken on slower economy

By THE STARKUALA LUMPUR: Property prices and demand will weaken by 5% to 10% in 2009 due to slower economic growth and a decline in foreign investment, says an industry official. Association of Valuers and Property Consultants In Private Practice Malaysia (PEPS) president James Wong ruled out a property price plunge but said he expected [...]


Don: Investors should look at buying REITs

By THE STARKUALA LUMPUR: Investors should consider buying into real estate investment trusts (REITs) as the valuations are now very attractive. Prof Datuk Mani Usilappan, former director general of the valuation and property services department at the Finance Ministry, said REIT yields had increased tremendously and most of the REITs were selling at a discount [...]