Property Assets Valuation & Consultancy
(Formerly known as Colliers, Jordan Lee & Jaafar (JH) Sdn Bhd)
Est .1985
News At a Glance
2015
JULY
1 July 2015
UEM Sunrise sells Johor building for RM138mil
UEM Sunrise Bhd's unit UEM Land Bhd has sold the Imperia Building in Nusajaya, a newly-built office block with a retail area, to UEM Group Bhd (UEMG) for RM137.8mil cash.
JUNE
30 June 2015
Scientex set to expand land bank in Johor
Scientex Bhd has proposed to buy 326 acres of freehold land in Pulai, Johor for RM219mil cash via its unit to expand the group's landbank in the state. Its wholly owned subsidiary, Scientex Quatari Sdn Bhd. had entered into conditional sale and purchase agreements with Bukit Gambir Co Sdn Bhd and Jayaplus Bakti Sdn Bhd to acquire 252 acres and 74 acres of land, respectively.
The land that it would be acquiring from the two vendors were located near its integrated township development - Taman Mutiara Mas in Skudai, Johor.
17 June 2015
Boustead Plantations to gain RM12mil from land sales
Boustead Plantation Bhd (BPB) will sell parcels of land with a combined size of 247ha in Kulaijaya , Johor for RM143 million. The proposed disposals included 88ha to Seng hong Quarry Sdn Bhd and Bentara Gemilang Industries Sdn Bhd, as well as 57ha to Sanggul Suria Sdn Bhd and 102ha to Janson Quarry Products (Segamat) Sdn Bhd.
3 June 2015
Kulim plans 2 property projects in Johor
Kulim (M) Bhd will be making a comeback to the property industry as plans to develop some 8,000ha of its oil palm plantations are in the pipeline. The company was planning a mixed development at its Ladang Siang near Desaru and Ladang Sungai Papan near Tanjung Belungkor oil palm plantations.
MAY
14 May 2015
Kimlun to convert Johor land status
Kimlun Corp Bhd plans to convert the agricultural land that is buying in Kota Tinggi, Johor tp residential status. Currently, 60 percent of this plot is planted with oil pams which are at the tail end of their productive life. The company is paying RM28.30 million for 29 parcels of contiguous freehold land, measuring 56.60 ha. (RM5.00 per square feet)
16 May 2015
Johor to set up special zones for foreigners to buy property
In a move to address fears of foreigners snapping up all available property, the state will designate international zones or housing development propjects within Iskandar Malaysia.
11 May 2015
Rehda : Iskandar Malaysia remains attractive to investors
The property market in Iskandar Malaysia remains attractive for many developers, despite the recent slowdown in sales, as investors are still optimistic on the long term growth prospect of the economic region.
APRIL
23 April 2015
IWCity acquires land for RM156mil in Johor
Iskandar Waterfront City Bhd (IWCity) has entered into a conditional sale and purchase agreement with Bahagia Wangsa Sdn Bhd to acquire three adjoining parcels of freehold land measuring 67.5 acres in Pulai, Johor, for RM155.9mil cash with plans to undertake mixed development on the land.
10 April 2015
Royal Group to buy DoubleTree for RM388m
Singapore-based Royal Group, owned by Asok Kumar Hiranandani, is buying the DoubleTree by Hilton Kuala Lumpur from asset management firm BlackRock for RM388 million. The hotel is located within The Intermark commercial development in Jalan Tun Razak.
9 April 2015
UEM Sunrise unveils plans
UEM Sunrise Bhd has unveiled its comprehensive development plans for the second phase of Gerbang Nusajaya, attracting international investors into its commercial and business development. 1,841.72ha of the entire development were designed for growth via catalytic developments and strategic partnership with established developers and multinational companies.
7 April 2015
Mega land deal
Fresh from purchasing land in Plentong, Johor, worth some RM2.37bil from Iskandar Waterfront City Bhd (IWCB), Shanghai-based developer Greenland Holdings Group Ltd has now set its sights on about 1,200 to 1,400 acres of industrial land near the Tanjung Langsat Industrial Complex (TLIC).
4 April 2015
Iskandar Waterfront land sale
Johor government linked Iskandar Waterfront City Bhd is selling three adjoining pieces of freehold land measuring 51.76ha in Plentong, Johor, for RM2.37 billion. Its wholly-owned subsidiary, Tebrau Bay Sdn Bhd, signed a sale and purchase agreement with Greenland Malaysia Real Estate Operator Sdn Bhd for the proposed disposal.
MARCH
16 March 2015
Oversupply of high-rise units in Johor unlikely
There will not be an oversupply of high-rise residential units in Johor despite the approval of over 80,000 such units as they will no be built simultaneously. It was recenttly reported that the authorities in Johor had approved 80,900 units of high-rise developments, of which 8,000 were being constructed now.
20 March 2015
Johor's Forest City project scaled down
The project had been brought down from its original 1,978ha to the approved size of 1,386ha split over four Island. Its gross development value (GDV) knocked back by 25 per cent to RM450 billion over its 30 year course.
27 March 2015
22km boardwalk for Danga Bay
A large beach boardwalk development is under way at the Iskandar Waterfront City in Danga Bay. Expected to be completed by 2018, the RM500 million 22km boardwalk is developed by Iskandar Waterfront Holdings (IWH), which is responsible for the facelift and development of the waterfront areas in the east, centre and west of the city centre.
FEBRUARY
1 February 2015
Mixed Views on house prices
There are mixed views on the whether the price of houses will go up, come down or remain the same when the Goods and Services Tax (GST) kicks in on April 1.
23 February 2015
GST biggest concern for property developers
The introduction of the 6% Goods and Services Tax (GST) in April will be the biggest agenda for the property market this year and will pose a challenge for property developers.
JANUARY
26 January 2015
IWC to make RM1b profit from Greenland deal
Iskandar Waterfront City Bhd (IWC), formerly known as Tebrau Teguh Bhd, could possibly gain about RM1 billion from the sale of 128 acres of reclaimed land in Tebrau Coast in southeast Johor. The tract will be sold to Greenland to Greenland Tebrau Sdn Bhd (GTSB), a joint venture between IWC and Shanghai-based property developer Greenland Group, for RM2.4 billion or RM430 per sq.ft - a record price in the region.
15 January 2015
Nod for Forest City
The controversial multi-billion ringgit Forest City Project, which was suspended for about six months, has finally been given the green light to resume, after being scaled down by at least 30%. The project, which was initially slated to cover 1,978ha, has now been scaled down by approximately 610ha to 1,368.05ha.