Property

MELAKA, Property developer MTD Properties Sdn Bhd is set to launch a major development project in Ayer Keroh with an estimated investment value of RM4 billion. Melaka Chief Minister Datuk Seri Ab Rauf Yusoh said the investment reflects strong private sector confidence in the state’s growth potential and is expected to deliver significant benefits to the local community. “This large-scale investment will generate employment opportunities, stimulate economic activity, and bring positive socio-economic impact to the people,” he said at the opening of MTD Properties’ new sales office in Ayer Keroh. Also in attendance were State Health, Human Resources and Unity Committee chairman Datuk Ngwe Hee Sem, State Secretary Datuk Azhar Arshad, MTD Group director Nik Faizul Nik Hussain, and Chief Operating Officer Dr Nik Fauzan Nik Faizul. Ab Rauf noted that MTD Properties has been active in Melaka since 1995, completing 41 projects across residential, commercial, and industrial segments, with a cumulative investment of RM4.5 billion. He added that 65.76 hectares in Taman Tasik Utama have been developed in partnership with the state government, delivering public amenities such as schools, a mosque, parks, and other community infrastructure. The developer’s ongoing projects include MTD Cinerea Heights, MTD Nexus 28 Industrial Park, and MTD Elysia Heights.

KUALA LUMPUR – Pelaburan Hartanah Bhd (PHB), an investment holding company under Yayasan Pelaburan Bumiputera, has expanded its industrial portfolio with the acquisition of two prime properties in Kedah and Johor, valued at approximately RM247 million. The first asset, located in Kulim Hi-Tech Park, was acquired from Kulim Technology Park Corporation. Spanning 0.809 hectares, it comprises three industrial buildings—a four-storey main facility, a single-storey warehouse, and a production area—all fully leased to Schott Glass, a global leader in glass and materials technology. PHB Group Managing Director and CEO Mohamad Damshal Awang Damit The second property, purchased from Rancak Beta Sdn Bhd, is situated within the Port of Tanjung Pelepas, a major logistics hub in southern Malaysia. Covering 3.804 hectares, it features a single-storey warehouse that is fully tenanted by global logistics giant Maersk. In a statement, PHB Group Managing Director and CEO Mohamad Damshal Awang Damit described the acquisitions as high-performing assets located in strategic economic zones beyond the Klang Valley, offering long-term lease security and reputable tenants. “With demand for quality industrial and logistics properties on the rise, PHB remains committed to expanding into high-growth industrial corridors to optimise long-term returns and deliver sustainable value to unitholders of Amanah Hartanah Bumiputera,” he said. He added that the acquisitions are aligned with PHB’s strategy to enhance portfolio yield, rebalance sector exposure, and ensure steady, long-term revenue generation. PHB noted that the new assets form part of its broader roadmap to diversify its real estate holdings and strengthen its position in the industrial sector. With the latest additions, industrial properties now make up around 10% of PHB’s total investment portfolio.

The manager of Mapletree Pan Asia Commercial Trust (MPACT) has announced the sale of two office buildings in Japan to unrelated third parties for a total of approximately JPY8.73 billion (S$78.7 million). MPACT’s Mapletree Anson along Singapore’s Tanjong Pagar The transaction, conducted through MPACT’s subsidiary Tsubaki Tokutei Mokuteki Kaisha, involves the sale of ABAS Shin-Yokohama (ASY) for JPY3.3 billion and TS Ikebukuro Building (TSI) for JPY5.4 billion. The combined sale price represents a 1.7% premium over the total original purchase price of JPY8.58 billion (around S$104.1 million). The divestment will be fully settled in cash and is expected to be completed by the end of August in the FY2025/2026 financial year. Following the completion, MPACT’s portfolio will consist of 15 high-quality commercial properties across five key gateway cities in Asia, with a total net lettable area of 10.4 million square feet and an independent valuation of S$15.9 billion. MPACT units ended flat at S$1.28 on July 23.

KUALA LUMPUR, Sunway Bhd, through its wholly owned subsidiary Sunway Developments Pte Ltd (SDPL), has won a land tender at Chuan Grove, Singapore, in partnership with Sing Holdings Residential Pte Ltd (SHRPL). The winning bid was worth S$703.6 million (approximately RM2.33 billion), according to a filing with Bursa Malaysia. Awarded by Singapore’s Urban Redevelopment Authority (URA) on July 17, 2025, the land parcel spans approximately 15,831.5 square metres and is designated for a 99-year leasehold residential development. To undertake the project, Sunway and SHRPL—a wholly owned unit of SGX-listed Sing Holdings Ltd—will form a joint venture company. SHRPL will hold a 65% stake, while SDPL will own the remaining 35%. Sunway stated that the proposed residential development is expected to start contributing positively to the group’s earnings from the financial year ending December 31, 2026, onwards. The group also noted that potential development risks such as fluctuations in raw material costs and interest rates will be mitigated through the partners’ strong industry experience and proven track record.

KUALA LUMPUR, PTT Synergy Group Bhd has announced plans to acquire 4.56 hectares of freehold land in Rawang, Selangor, for RM60 million to develop a commercial warehouse featuring an automated storage and retrieval system (ASRS). In a filing with Bursa Malaysia, the construction group said the single-storey industrial facility will be leased to a third party upon completion. The project is expected to generate RM22.2 million in annual rental income. The land, divided into eight parcels, is being purchased by PTT Logistics Hub 2 Sdn Bhd, a wholly owned subsidiary focused on renting and operating ASRS-equipped warehouses. The seller is Koperasi Kakitangan Bank Rakyat Bhd. PTT noted the acquisition price represents a slight discount from the market value of RM62.32 million, as appraised by independent valuer City Valuers & Consultants Sdn Bhd. The purchase will be fully funded through a mix of internal funds and bank borrowings. The group expects to spend RM270 million on the warehouse development, which will be financed similarly. Construction is scheduled to begin on July 31 and is targeted for completion within 18 months. PTT anticipates finalising the land deal within four months. Shares of PTT Synergy closed 2.42% higher at RM1.27 on Friday, bringing its market capitalisation to RM548.85 million. The stock has gained over 12% year-to-date.

KUALA LUMPUR, Sunway Marketing Sdn Bhd, the appointed dealer partner of Zeekr Malaysia, has officially launched Zeekr Sunway, a flagship facility featuring both a Zeekr showroom and service centre in the heart of Sunway City, Kuala Lumpur. In a statement today, Sunway Marketing announced that the Zeekr Space Sunway City and Zeekr Sunway Service Centre were developed with a combined investment of over RM10 million. The launch aims to deliver a comprehensive and elevated ownership experience for both prospective customers and existing Zeekr owners in Malaysia. Strategically located along Persiaran Lagoon, the 11,100-square-foot Zeekr Space occupies the former site of Sunway City’s iconic helipad. The premium showroom showcases six display bays featuring the latest Zeekr models, including the Zeekr X and Zeekr 009. Two dedicated delivery bays are also available for customers to celebrate and document the handover of their new vehicles. Designed with customer comfort in mind, the facility includes a premium lounge, dedicated discussion areas with sales and product specialists, and four alternating current (AC) EV charging stations. Plans are also underway to add direct current (DC) charging infrastructure in the near future. Yeoh Yuen Chee, Chief Executive Officer of Sunway Trading and Manufacturing, described the launch as a significant step forward for both the Zeekr brand and Sunway City. “This marks more than just the expansion of our automotive portfolio. The simultaneous launch of Zeekr Space and Service Centre underscores our commitment to delivering a seamless, sustainable, and premium ownership experience for Zeekr’s New Energy Vehicles (NEVs), both within Sunway and across the broader Malaysian market,” he said.