About Vertu Resort Condominium
First resort-inspired high-rise development by Aspen Group at Batu Kawan, with a gross development value (GDV) of RM620mil. This is the second phase (and the first residential development) in Aspen Vision City.
Find out more about Vertu Resort Condominium.
The outlook for Malaysia’s industrial property market is looking favorable as it is expected to see more inquiries, especially from manufacturers, said independent property consultancy firm, Knight Frank Malaysia.
Its Capital Markets executive director Allan Sim said manufacturers would be looking to take advantage of the tax incentives, adding that the industrial real estate market has remained resilient in the face of the Covid-19 pandemic.
“We also foresee more international e-commerce operators considering Malaysia as an important regional distribution hub within their network,” he said in a statement in conjunction with Knight Frank Malaysia latest research report, Real Estate Highlights — First Half of 2020.
Additionally, the firm said the Malaysian government’s move to provide generous tax incentives for foreign manufacturers under the National Economic Recovery Plan would help to position the country as a strong contender in attracting more overseas manufacturing operations to its shores.
“This is timely given the ongoing major restructuring of global supply chains arising from the aftermath of the pandemic, as well as the ongoing United States-China trade war,” it said.
Meanwhile, on the residential market segment, Knight Frank Malaysia managing director Sarkunan Subramaniam said he expected to see a slow uptick post-movement control order (MCO), backed by the government’s various stimulus, particularly the reintroduction of the Home Ownership Campaign (HOC).
“Moving forward, developers may also reconsider their product positioning and marketing strategies, including leveraging technologies and partnering with e-commerce platforms to improve their sales,” he said.
The full Real Estate Highlights — First Half of 2020 report is available at https://bit.ly/REH1H2020.
Source: Bernama
A newly proposed high-rise commercial development by Serendipity Capital Berhad in the heart of George Town. Strategically located along Lebuh Noordin, adjacent to M Summit 191 serviced residence by M Summit Group and Cititel Express Hotel. It is only a short walk to KOMTAR and GAMA Departmental Store.
This development will see the demolition of existing buildings behind the shot lots at Lebuh Noordin, for the construction of a 28-storey commercial building. It will feature 69 units of resort suites with rooftop facilities, and some commercial spaces located at lower levels.
The project is still pending for approval. It is not known whether this will be opened for sale. More details to be available upon official launch.
Property Project : (to be confirmed)
Location : George Town
Property Type : Commercial
Tenure : (to be confirmed)
Land Area: (to be confirmed)
Built-up Area: (to be confirmed)
Total Units : 69 (suites)
Indicative Price: (to be confirmed)
Developer : Serendipity Capital Berhad
Register your interest here
Location Map:
About Suasana @ Utropolis
The second phase of Utropolis development by Paramount Property in Batu Kawan, Penang. Strategically located on a 3-acres freehold land next to the UOW Malaysia KDU university college, about 5 minutes walk to Design Village outlet mall.
Find out more about Utropolis @ Batu Kawan:
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According to the latest property market transaction data for 2019 to Q1 2020 by the National Property Information Centre (NAPIC), overall overhang properties recorded in Q1 2020 showed that there are a total of 29,698 overhang units, amounting to a total value of RM18.91 billion. From that number, 35% of all overhang units or 10,401 units are in the RM300,001 to RM600,000 price range. More than half of the overhang are condominium/apartment type, making up 54.7% with 16,241 units.
Johor recorded a total number of 6,057 units, of which 1,974 were condominium units or apartments and 2,160 were two to three-storey terrace houses.
Perak emerged as having the second-highest overhang with a total of 4,919 units with 16.6%, followed by Selangor with a total of 4,844 units or 16.3%.
The report also revealed that the next highest was Penang accounting for 10.2% with 3,043 overhang units, and Kuala Lumpur at 8.7% with 2,584 units. Sarawak makes up 6.6% with 1,966 units and Pahang has 5.1% at 1,510 units.
The remaining states that make up less than 5% respectively and in descending order are Sabah (4.8%), Kedah (4.7%), Negeri Sembilan (3.7%), Melaka (2.3%) and Terengganu (1.7%).
The states that account for less than 1% each are Kelantan (0.5%), and Perlis (0.1%). The only place with zero overhang units is Putrajaya.
NAPIC property market division deputy director Tee Siew Bee said the overall property market was slowing down this year due to a mismatch in demand and supply for certain states/districts/ locations, types and prices.
“The residential overhang situation has continued to improve, but remains a major concern. There are fewer new launches that might help to reduce the number of overhang and unsold units,” she said during the Real Estate & Housing Developers’ Association’s (Rehda) event entitled “Selling a property successfully in the new decade – is big data & proptech the ultimate solution?”
Rehda’s event highlighted how property developers can move forward in boosting their property sales, whilst easing the process of home ownership in these tough times by embracing Big Data and PropTech.
Source: FreeMalaysiaToday.com
