Market News
14 Sep
2016
Medini going ahead with commercial developments
SINCE its opening in September 2012, Legoland Malaysia has been drawing thousands of visitors daily. Situated in Medini Iskandar, the 76-acre development — also the country’s first international theme park — is constantly hosting events and lively activities. Its mastermind, Medini Iskandar Malaysia Sdn Bhd (MIM), plans to emulate the success of Legoland Malaysia and its other past launches — Mall of Medini and Gleneagles Medini — by introducing commercial office towers in the Medini Iskandar township.
13 Sep
2016
Selangor to introduce affordable office space
SELANGOR government will be introducing a Residential Commercial Apartment Development Policy and affordable Boutique Offices to provide retail space to young entrepreneurs who are starting a business and do not need large office space.
16 Aug
2016
IGB sells Renaissance KL Hotel for RM765m
KUALA LUMPUR: IGB Corp Bhd, controlled by the Tan family, yesterday announced that it is selling off the five-star Renaissance Kuala Lumpur Hotel for RM765 million cash after purchasing the property for RM506.6 million in 1996.
15 Aug
2016
MRT plans for third connecting line
KUALA LUMPUR: Mass Rapid Transit Corporation Sdn Bhd (MRT Corp) is looking to have a third line named MRT Line 3 to connect its MRT Line 1 and Line 2.
MRT Corp chief executive officer Datuk Seri Shahril Mokhtar said the company is currently in the midst of completing the feasibility study for Line 3 which is expected to be completed by year-end.
10 Aug
2016
Office markets in KL and Selangor expected to remain subdued
PETALING JAYA (Aug 10): The KL fringe and Selangor office markets are expected to remain subdued while KL city is expected to face downward pressure underpinned by persistent low oil prices, said property consultancy firm Knight Frank Malaysia in its “Real Estate Insights research report for 1H2016”.
26 Jul
2016
Concorde KL to be demolished to unlock land value
LONG-established Concorde Hotel Kuala Lumpur — which is linked to Sultan of Selangor Sultan Sharafuddin Idris Shah, entrepreneur Tan Sri Syed Yusof Syed Nasir and Singaporean tycoon Ong Beng Seng — may be torn down to make way for a multibillion-ringgit integrated project, documents show.
11 Jul
2016
OCBC Building sold for RM21 million
PETALING JAYA (July 8): The iconic “OCBC Building” located at Jalan Hang Kasturi was sold last year in July to building management services company Shen & Sons Sdn Bhd for RM921 psf — translating into RM21 million — JLL Malaysia country head, YY Lau told TheEdgeProperty.com.
01 Jul
2016
Newly launched LRT service between the Kelana Jaya and Putra Heights stations
SEVERAL of those taking the newly launched LRT service between the Kelana Jaya and Putra Heights stations were first-timers who had never taken the train before.
The service officially began yesterday at 6am but most of the passengers strolled in after 9.30am.
28 Jun
2016
Asia Square Tower 1 sets record deal
SOVEREIGN wealth fund Qatar Investment Authority (QIA) has purchased Asia Square Tower 1 for S$3.4 billion (US$2.45 billion) from BlackRock. The deal announced on June 6 is said to be the single-largest office building transaction in the city state and Asia-Pacific so far.
16 Jun
2016
KL office market still lacklustre
THE office market in Kuala Lumpur and beyond KL (Selangor) remained mostly static and unglued in the first quarter of the year, in the light of the slowing local economy, and the situation looks set to continue for the rest of the year.