Projects encompassing 23,380 residential units were launched in the first six months of 2025, down 46% from a year earlier. Sep 4, 2025 Malaysia saw a sharp drop in new residential housing projects in the first half of this year, while the number of unsold residential units increased, underscoring weakness in the real estate market. Projects encompassing 23,380 residential units were launched in...
September 1, 2025 KUALA LUMPUR: Malaysia may be heading for another property glut, this time with almost 100,000 residential units — comprising completed, under construction and yet to be built homes — having no buyers in the first three months of the year. Based on data from the National Property Information Centre (Napic), which records development approvals granted by local authorities, homes...
KUALA LUMPUR (Aug 27): Paramount Corp Bhd (KL:PARAMON) is accelerating its land replenishment drive with plans to secure land with gross development value (GDV) potential of up to RM6 billion by year end, as the property developer seeks to sustain its pipeline while keeping to its core markets in the Klang Valley, Penang and Kedah. Group chief executive officer Jeffrey Chew Sun Teong said the...
Friday, 08 Aug 2025 PETALING JAYA: Skyworld Development Bhd had inked a sales and purchase agreement to acquire four adjoining parcels of land in Seberang Perai Tengah, Penang for RM82.7mil cash. The agreement was entered via its 70%-indirect subsidiary Prefab Master (Penang) Sdn Bhd, with Tan Tio Che @ Tan Chew Cheng. In a filing with Bursa Malaysia, SkyWorld said the 26.37-acres of land just...
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Monday, 21 Jul 2025 PETALING JAYA: The government is planning to introduce a "pay-per-use" system for maintenance fees in future affordable housing developments, potentially ending the era of constant, expensive monthly fees. Housing and Local Government Minister Nga Kor Ming announced this initiative as part of the ministry’s housing reforms (Reformasi Perumahan). Under the proposed system,...
Monday, 21 Jul 2025 PETALING JAYA: Despite headwinds this year from US regulations for artificial intelligence chips and tariffs, the local property sector remains resilient, analysts say. Hong Leong Investment Bank (HLIB) Research said high-end residential demand is recovering in the Klang Valley, signalling improving sentiment, while the Urban Renewal Act could unlock new redevelopment opportunities...
Eyeing the future: The crowd looking at the layout of SkyWorld Pearlmont during the project’s groundbreaking ceremony in Seberang Perai, Penang. — ZHAFARAN NASIB/The Star BUTTERWORTH: Breaking ground on the nation’s largest affordable housing project under the Rumah Bakat Madani initiative, SkyWorld Pearlmont promises accessible, high-quality high-rise living, along with the nation’s first...
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The land, referred to as Parcel 1, is part of a larger 161.5-acre tract located in Bandar Cassia, Seberang Perai Selatan. The site will be developed into Rumah Bakat Baru Madani (RBB) homes, under a joint development agreement between SkyWorld, the Penang Development Corporation (PDC) and its subsidiary PDC Properties. July 09, 2025 KUALA LUMPUR (July 8): SkyWorld Development Bhd (KL:SKYWLD) is...
Thursday, 26 Jun 2025 PENANG has recorded RM6.7bil in approved manufacturing investment in the first quarter of the year, Chief Minister Chow Kon Yeow says. He said the state continued to show resilience and competitiveness as a leading investment destination amid global uncertainties and persistent trade tensions. “The RM6.7bil secured in approved manufacturing investments represented 22% of...
Tuesday, 17 Jun 2025 PETALING JAYA: Buying interest in property is expected to remain healthy, says MIDF Research, which remains positive on the property sector. “The sales of property companies are generally stronger, which should underpin earnings growth going forward. “Meanwhile, the impact of the sales and services tax (SST) on property companies is expected to be minimal as residential...
Housing and Local Government Minister Nga Kor Ming said the exemption applies to all residential buildings, including serviced apartments built on commercial land, provided they are intended for residential use and fall under the HDA. PUTRAJAYA (June 15): Residential properties sold under the Housing Development Act (HDA) will be exempted from the update sales and services tax (SST), following concerns...
Penang Chief Minister Chow Kon Yeow said the state’s land and mines office, along with the land office, is currently reviewing quit rent rates for all registered land titles in Penang. — Picture by Opalyn Mok Wednesday, 21 May 2025 GEORGE TOWN, May 21 — New quit rent rates will be implemented from January 1 next year, Penang Chief Minister Chow Kon Yeow announced today. He said the...
Suling Hill Development is a special purpose vehicle incorporated to develop an industrial park, also known as Northern TechValley (BKE), with ancillary facilities including necessary infrastructure, amenities and public utilities on the freehold vacant land in Seberang Perai Tengah, Penang. Bernama May 23, 2025 KUALA LUMPUR (May 22): AME Elite Consortium Bhd (KL:AME) has proposed to provide...
07 May 2025 KUALA LUMPUR: Pavilion Real Estate Investment Trust (Pavilion REIT) has received unitholder approval to acquire Banyan Tree Kuala Lumpur (BTKL) and Pavilion Hotel Kuala Lumpur (PHKL) for RM480mil, enhancing long-term performance and reinforcing its Bukit Bintang presence. Pavilion REIT, in a statement, said the resolutions passed at a unitholders' meeting allow MTrustee Bhd, on behalf...
From left: Rehda exco member Datuk Tan Hon Lim, Rehda Institute chief operating officer David Chong, Rehda Institute chairman Datuk Jeffrey Ng Tiong Lip, Rehda Institute research & education director Malathi Thevendran, and Rehda Institute research & education manager Christine Chuah “The established developers with over 20 years of experience and a history of successful project delivery...
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Sundarajoo (centre) receiving a token of appreciation from Yu (second left). With them are (from left) Teng Tong, Siang Gin and Tze Ming during the dinner at Bayan Lepas. — Photos: LIM BENG TATT/The Star Friday, 02 May 2025 PENANG’S property market, especially the high-end residential segment, has seen impressive growth over the past few years, says Datuk Seri Sundarajoo Somu. Citing...
The recent gas pipeline explosion in Putra Heights may prompt financial institutions to reconsider how they assess properties before approving financing, according to property consultancy Henry Butcher. NSTP/AIZUDDIN SAAD April 18, 2025 KUALA LUMPUR: The recent gas pipeline explosion in Putra Heights may prompt financial institutions to reconsider how they assess properties before...