Malaysia Archives - Amora Escapes

Javier Valdez — Sat, 08 Jun 2024 10:58:28 +0000

KUALA LUMPUR: Malaysia’s property market is poised to remain stable in 2024, followed by sustained growth in the next three years, bolstered by various initiatives of the Madani government under Budget 2024, said Housing and Local Government Minister Nga Kor Ming.

He said the property market has demonstrated significant growth and resilience, with individual property counters experiencing up to 600% growth in share price appreciation.

He said property counters in the stock market have been on the rise from January 2023 to June 2024, with 76 out of 100 on Bursa Malaysia experiencing an increase in share prices.

“(Meanwhile,) 22 counters showed a decrease in share prices, (and) two counters maintained their share prices despite fluctuations,” Nga said in a statement today.

He noted that among the top counters were DPS Resources Bhd, registering 600% growth in share price, UEM Sunrise Bhd, posting a 347% increase and WMG Holdings Bhd, which appreciated by 326% from January 2023 to June 2024.

“This positive trajectory is expected to continue into the second half of 2024. I firmly believe that under the leadership of Prime Minister Datuk Seri Anwar Ibrahim, our property market will have a bright future in the coming years.

“We must work together to enhance our industry’s reputation and increase the confidence level of investors to make the property market even more resilient,” said Nga.

According to the statement, Malaysia’s property market transactions were valued at RM42.31 billion, with more than 89,000 transactions recorded in the first quarter of 2023. In the first quarter of this year, the value of property market transactions hit RM56.53 billion, an increase of RM14.22 billion, with more than 104,000 deals.

“This significant growth indicates that Malaysia’s property market is recovering well and on the rise,” the statement added.

Source: The Sun

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Sunway Property’s Latest Buy a Positive

Jeffery Blair — Tue, 05 Sep 2023 02:55:10 +0000

KUALA LUMPUR: Analysts are generally positive on Sunway Bhd’s property arm, Sunway Property Bhd’s latest acquisition of 245 acres of freehold industrial land in Kuang, Rawang for RM115mil.

Sunway will build industrial and commercial properties with a gross development value (GDV) of at least RM2bil across the 245 acres of prime freehold land in Rawang.

“We are positive on the acquisition given the strategic location of the land with good connectivity to KLIA and Port Klang, fair acquisition price, attractive industrial segment benefiting from strong foreign direct investment (FDI) flow trend, and the venture allows the group to diversify its revenue stream,” said Hong Leong Investment Bank (HLIB) Research.

The research house deems the acquisition price to be fair. The land cost is RM115mil, implying a land cost-to-GDV of 5.8%.

However, it noted that the land is agricultural land and as such, Sunway will have to convert the land from agricultural to industrial.

Source : TheStar

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KL Wellness City: The First Purpose-Built Healthcare and Wellness City in Southeast Asia

Aaron Maxwell — Tue, 20 Jun 2023 03:19:34 +0000

KL Wellness City (KLWC), the first purpose-built township project in Southeast Asia to cultivate a lifestyle fully integrated with healthcare and wellness, marked its official launch today at the KL Wellness City Gallery in Bukit Jalil. The ceremony welcomed the Minister of Health, YB Dr Zaliha Mustafa as its Guest of Honour to officiate the momentous occasion.

With a gross development value (GDV) of RM11 billion and spanning over 26.49 acres, the development is a world-class medical and wellness living at its core. The project features a well-rounded ecosystem primed for wellbeing and health – The Nobel Healthcare Park, the KL International Hospital (KLIH), innovation laboratories, clinical R&D facilities, healthcare company office towers, a retirement resort, a Healthcare Hub, wellness-centric serviced apartments, a fitness-based Central Park, and more.

For the past few years, during the pandemic, Malaysia has been fighting hurdles in keeping up infrastructure development with patient load, retaining our medical talents, maintaining continuance of care in preparation for an ageing nation and a continuous war against Non-Communicable Diseases (NCD).

Positioning Malaysia As A Hub For Medical Tourism

“In full support of Malaysia’s national plan to be recognised as one of the best places for medical tourism, KL Wellness City is designed to provide and prioritise health and wellbeing as the heart of its development, through its vision of a 360-degree wellness hub centred around its township which encompasses all aspects of medical care, health, wellness, fitness, and business, complete with residential, retail, and commercial offerings,” said KL Wellness City Managing Director, Dato’ Dr Colin Lee.

In line with the national vision of solidifying Malaysia’s position and track record as the top destination for medical tourism in mind, KL Wellness City will serve as the ultimate one-stop oasis for the body and mind for both domestic and international travellers.

Preparing For An Ageing Nation

Other than being a cornerstone for healthcare travel, according to Dato’ Dr Colin, the KLWC project is also an initiative that is built with an ageing nation in mind. Malaysia, having attained its status as an ageing nation, has an ageing population growing at a faster-than-expected rate where more than 15% of its population will be above the age of 65 by 2050.

In response to this shift in population demographics, Malaysia is currently in pursuit of WHO’s Universal Health Coverage and Sustainable Development Goals, that is to provide equitable healthcare and wellness for all. “The KL Wellness City master plan incorporates thousands of facilities and residences. This township is a significant step towards embracing an ageing nation, with facilities for comprehensive healthcare dedicated to wellbeing through elderly care, retirement resorts, as well as independent and assisted living.” Dato’ Dr Lee added.

Retaining And Cultivating Local Medical Talents

The flagship KL International Hospital (KLIH), approved as a tertiary hospital with 624 beds and scalable to 1,000-bed capacity, will be on the same ranks as renowned institutions like Thailand’s Bumrungrad International Hospital, as well as Mount Elizabeth Novena, Singapore.

Some of the of medical equipment and facilities to be equipped in the KL International Hospital will be amongst the first in the Southeast Asia region, offering a fully comprehensive and integrated ecosystem of healthcare services including wellness and fitness facilities across diverse areas, including cardiology, spine health, neuro health, sports medicine, cosmetic surgery, and fertility, with R&D laboratories and facilities for clinical studies.

With the support of the Malaysian Investment Development Authority (MIDA) towards the KLIH, the new private hospital will be built within the mixed development of KL Wellness City in Kuala Lumpur with proposed investment of RM860 million. The project, set to be in operation in the first half of 2026, will create over 3,000 job opportunities for medical professionals, including medical specialists, doctors, nurses, pharmacists, technicians, and others.

“The commitment of KLWC to raising the bar for healthy living and wellbeing resonates with the Ministry of Health’s whole-of-system approach. It aligns perfectly with our national vision and the direction set forth in the 12th Malaysia Plan.

Undoubtedly, I have faith that KLIH will attract multidisciplinary leading specialists to practice in a single hospital location, shortening turnaround time for both local and foreign patients, optimising patient care and experience.

We foresee KLIH filling in that gap for Malaysians, and we stand in support of KLWC resonating with their purpose. The Ministry applauds the efforts of the tertiary hospital to maintain our leading position in this region and globally. We will continue to endorse KL International Hospital’s commitment,” said YB Dr Zaliha Mustafa, Minister of Health Malaysia.

Dato’ Dr Colin also expressed his gratitude for the support of the Malaysian Government for the ground- breaking project. “We are honoured by the presence of the esteemed Minister of Health, YB Dr Zaliha Mustafa, which further exemplifies our shared commitment to make Malaysia stand among the best in the SEA region.”

Source: Property Guru

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Savills Signs MoU with Malaysia’s UM Land for Halal Manufacturing Hub in Johor

Sherman Henry Reeves — Sat, 27 May 2023 23:41:57 +0000

Savills’ integrated real estate advisory services (IREAS) has signed a memorandum of understanding with an entity of Malaysian developer UM Land to establish an international manufacturing hub for halal-related businesses in the Iskandar region of Johor.

Called the Iskandar Halal Park, it will include a halal logistics centre that offers warehousing, cold storage, and transportation services for halal products. The park is targeted towards halal manufacturers, service providers and investors, with the aim of becoming a halal regional hub.

In a May 18 press release, Savills says it is partnering with Singapore-based Haltex Group to form the Global Halal Alliance, a strategic program designed to foster the growth of global trade by connecting various supply and demand chains, starting with Iskandar Halal Park.

“As a member of the Global Halal Alliance, IREAS will act as the primary liaison with investors and international MNCs across various industries,” says Annie Woo, regional director and head of Ireas Asia at Savills. She adds that the collaboration has already identified several development strategies, including targeting industries, park design, and business and development delivery models.

Marcus Loo, CEO of Savills Singapore, says the collaboration marks a significant strategic milestone for Savills. “This will strengthen our capabilities and build upon our strong track record in core advisory services”.

Source: EdgeProp

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CapitaLand Malaysia Trust Buys Second Logistics Property in Malaysia for RM39.7m

Sean Potter — Fri, 26 May 2023 23:37:38 +0000

CapitaLand Malaysia Trust (CLMT) on Monday (May 15) said its trustee MTrustee has entered into a sale and purchase agreement to acquire a freehold logistics warehouse in Malaysia for RM39.7 million (S$11.8 million).

The price of the property was negotiated on a willing-buyer willing-seller basis, and is in line with the property’s independent market valuation of RM40.4 million that was commissioned by CLMT’s trustee. The completion of the acquisition is expected to take place in the second half of 2023, CLMT announced in a bourse filing on Monday.

The logistics property is a single-storey detached warehouse with an annexed three-storey office building and a built-up area of 84,755 square feet (sq ft). The property is located at the Hicom Glenmarie Industrial Park in Shah Alam, Selangor.

The seller of the property is Cynnyx, a company incorporated in Malaysia that is principally involved in investment holding.

This acquisition is CMLT’s second venture into logistics properties. The trust acquired its first in June last year, when it entered into a sale-and-purchase agreement to acquire two contiguous plots of freehold land and their industrial properties in Penang’s Sungai Jawi district for RM80 million.

CapitaLand Malaysia Reit Management (CMRM), the manager of CLMT, has executed a letter of offer with a “reputable international luxury fashion retailer” to fully lease the Shah Alam building for 10 years.

Source: The Business Times

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Malaysian Property Market Shrinks 5.7pc in Q1 on Interest Rate Hikes, Falling Confidence

Scott Mcdonald — Thu, 25 May 2023 23:34:37 +0000

Malaysian property transactions fell in the first quarter compared to last year, with construction activity also slowing down across the same period, Valuation and Property Services Department director-general Abdul Razak Yusak said today.

Based on the National Property Information Centre’s (Napic) data, Abdul Razak said there was a 5.7 per cent decrease in the market activity compared to Q1 2022.

“More than 89,000 transactions worth RM42.31 billion were recorded in Q1 2023, showing a 5.7 per cent decrease in market activity compared to Q1 2022 but the total transaction value increased slightly by 0.8 per cent.

“The decrease in activity in the residential and agricultural property sub-sectors at a rate of 6.6 per cent and 12.5 per cent respectively compared to last year affected the performance of the overall property market.

“The increased activity in the commercial and development land subsectors, which increased by 14.5 per cent and 2.8 per cent in volume and 22.1 per cent and 30.4 per cent in value respectively offset the overall decline,” he said.

He said factors such as a seasonal slow period for property transaction at the start of the year, increases in the Overnight Policy Rate (OPR), and an 9.7-point year-on-year decline of the Consumer Sentiment Index in the first quarter were among reasons for the drop in transactions.

Developers have also adopted a cautious outlook, he said to explain the slowdown in activity.

“The number of completed, started and newly planned units decreased by 25.4 per cent, 14.5 per cent and 22.6 per cent respectively compared to the first quarter of last year.

“The serviced apartment sector also experienced a decline in construction activity, with a decrease of 60.3 per cent, 51.8 per cent and 58.8 per cent for completed, started and planned units, respectively,” he said.

Abdul Razak also said the number of new residential launches recorded of nearly 4,700 units was lower than in previous years, but said this would help address overhang.

According to Napic’s data, Johor had the most new units launched at 2,077, accounting for approximately 45 per cent of the total nationwide. However, sales performance was moderate at 24.9 per cent.

Selangor was next with 791 units, accounting for 17 per cent of the total, and its sales performance was relatively better at 37 per cent.

“The reduction in new launches corresponds to a decrease in the number of licenses granted to developers, as well as advertising and sales permits for new housing sales and renewals approved by the Ministry of Development and Local Government,” he said.

The number of approved permits decreased from 5,641 in January and February 2022 to 2,911 in the same period in 2023.

He said that the residential and serviced apartment overhang status continued to be positive as the volume and value of residential overhang decreased by 3.2 per cent and 0.5 per cent respectively compared to the fourth quarter (Q4) of 2022.

The serviced apartment segment also saw a marginal decline in the number and value of overhang units by 3 per cent each to 23,267 units valued at RM19.59 billion.

Abdul Razak said that the Malaysian House Price Index stood at 210.1 points (RM453,365 per unit) in Q1 2023, with a marginal annual growth of 2.0 per cent.

“The growth ranging from 0.4 per cent to 5.8 per cent, which was recorded in all states except Sarawak, has stabilised the overall house price index. This annual growth was almost like the pre-pandemic growth,” he said.

He also said that the occupancy of private purpose-built offices and shopping complex has increased marginally.

In Q1 2023, private purpose-built offices had an occupancy rate of 71.9 per cent, marginally higher than in Q4 2022 while the amount of unoccupied office space remained high at 5.17 million square metres.

Kuala Lumpur had the highest available space of 2.53 million square metres, followed by Selangor with 1.40 million square metres.

In the shopping complex segment, the occupancy rate marginally increased to 76 per cent in Q1 2023, while the total unoccupied retail space was approximately 4.2 million square metres.

“The private purpose-built office and shopping complex segment in Kuala Lumpur and Selangor should be given attention as there is a surplus of space, which is expected to be severely affected by the inflow of new supply this year.

“Both parties, namely developers, need to be more thorough and cautious before planning any new developments while the local authorities need to evaluate in detail before approving each new project,” he said.

Besides, the gradual increase in the OPR since May 2022 is expected to have an impact on property market activity, particularly on residential demand.

He said that looking at the national economy which is projected to grow by 4.0 per cent to 5.0 per cent this year supported by continued resilient domestic growth prospects, the property market is expected to remain cautiously optimistic in 2023.

Source: Malay Mail

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