Property

News, Property

Taghill Secures RM494 Million Bandar Sri Damansara Construction Contract

KUALA LUMPUR : Taghill Holdings Bhd (KL:TAGHILL), formerly known as Siab Holdings Bhd, has secured a RM494 million construction contract in Bandar Sri Damansara, Selangor. In a filing with Bursa Malaysia on Friday, the group said its subsidiary, Taghill Projects Sdn Bhd (TPSB), received a letter of award from Indo Aman Bina Sdn Bhd to build two 55-storey serviced apartment towers, a 14-storey parking podium, and shared facilities. The project, which spans 40 months, is scheduled for completion by 9 July 2028. TPSB is required to provide a performance bond of RM24.73 million as part of the contract terms. Taghill said the contract is expected to contribute positively to its earnings and net assets for the financial year ending 31 May 2025. The latest award marks Taghill’s third major win this year. In February, the group secured a RM58 million contract for the construction of an 18-storey commercial complex in Ipoh, Perak, followed by a RM152 million commercial strata scheme project in Kuantan, Pahang. Despite the series of project wins, Taghill’s shares have fallen more than 29% year-to-date. The stock closed unchanged at 8.5 sen on Friday, valuing the group at RM132.3 million. –The Edge Malaysia

Property

SOREN AT SURIA HILL ACHIEVES 80% TAKE-UP RATE as IJM Land Eyes Next Launch

Once considered a quiet township on the periphery of Klang Valley, Bandar Puncak Alam has been undergoing a powerful transformation. The township has evolved into a dynamic growth corridor, supported by infrastructure upgrades, expanding amenities, and undeniable interest from homebuyers seeking a lifestyle that optimally balances tranquillity with ease of accessibility. As a correlation, Suria Hill has emerged as the defining catalyst and pinnacle of this very transformation, a thoughtfully elevated residential enclave by IJM Land that brings a refreshing new dimension to modern living. With the official launch of Soren, the first residential phase of Suria Hill, IJM Land marks a significant milestone with an impressive 80% take-up rate. The strong response from homebuyers highlights the growing demand for well-designed homes in serene, nature-rich locations that support wellness and holistic family living. Nature’s Breath Perched at an elevated 90 metres above sea level and spanning 170 acres of gently sloping terrain, Suria Hill is envisioned as a low-density retreat with just 10 units per acre. It is a natural extension of the Alam Suria township, thoughtfully planned as a quiet retreat and a tranquil yet well-connected enclave. Envisioned as five distinctive phases that will be unveiled to much fanfare, Suria Hill’s offerings will prioritise wellness and sustainability to go along with a sense of belonging without compromising on modern comforts. “The encouraging take-up rate at Phase 1A – Soren reflects a shift in how people view their homes. Buyers today are looking for more than just a roof over their heads. They want a space that brings peace, supports both physical and mental well-being, and grows with them and their families. Suria Hill is designed with that very intention in mind. Soren aims to offer a thoughtful and balanced living environment where calmness and quiet connection take centre stage, and where nature, community, and comfort come together in a meaningful way. That is what makes it truly special for our residents,” said Datuk Chai Kian Soon, Chief Operating Officer of IJM Land. Soothing Tropical Bohemia One of the defining qualities of Soren lies in its intuitive design philosophy. The 142 double-storey linked homes, ranging from 1,606 to 1,741 square feet, have been planned and constructed with care to support real-life living, particularly the capacity to accommodate multigenerational households. Every element is crafted with the impetus of ensuring that form and function are the fundamental tenets with ease of use that’s not ostentatious or pretentious in their application. In particular, ground floors are wheelchair friendly, while sliding door in the ground floor bathroom make it easy for the elderly to access. There is also an EV isolator point that prepares homeowners for future mobility needs, and fully tiled car porch and yard offer durability with low maintenance. These are homes that assimilate to the needs and requirements of the incoming families, offering flexibility for evolving needs without compromising visual harmony or long-term comfort. For those interested, a visit to the tropical bohemian-inspired Soren show house is a must. It is a visual representation of what is truly possible. Drawing from the natural wood and the simplicity of well-composed interiors, the home captures the soul of the development with a sense of escapism while remaining inherently rooted in utilitarian functionality. This design language reflects a more measured and intentional pace of daily living. The use of light wood tones, rattan textures, and interwoven elements softens the ambience of each room, while potted greenery and botanical touches echo the development’s deep connection to nature. The palette is kept clean, minimalistic and quietly understated, allowing light and air to take centre stage. High ceilings and expansive windows serve as a prelude to the outdoors, welcoming natural illumination and picturesque hilltop views into every corner of the home. Each space transitions effortlessly into the next, creating an uninterrupted flow that fosters familial closeness while also allowing space for privacy and reflection. The extended yard adds a layer of versatility, perfect for gardening, play, quiet contemplation or lively outdoor gatherings. Green Spaces That Shape Daily Life Suria Hill has been envisioned to support a lifestyle rooted in movement, well-being and a strong sense of community cohesiveness. From the very beginning, green spaces have been integrated as essential elements of daily life. These manicured landscaped areas are meant to be used by all residents for their recreational endeavours, forming part of the natural rhythm of the township. At the very epicentre of the development is Suria Park, a 4.42-acre green zone that plays the role of a central gathering point for residents. It features a 1.8-kilometre pedestrian loop, 2 multipurpose courts, a skate park, wall climbing and fitness stations. The community park encourages residents of all ages to stay active, spend time outdoors, and connect with one another in stress-free and meaningful outlets. A 4.6-kilometre hiking and jogging trail weaves seamlessly through the terrain of Suria Hill, offering brisk scenic views and a chance to engage with nature while promoting healthy routines. Whether used for daily exercise or weekend social trekking, the trail adds a surge of positive energy to the community’s lifestyle. Within Soren, the 4.52-acre Vitality Garden is a calm oasis with an inviting space for reflection and light activity. Residents can stretch, read, enjoy fresh air, or simply pause for a moment of quiet self-reflection. This garden complements the self-assured pace of Suria Park and adds another cap in the feather to the living experience at Suria Hill. Seamlessly Convenient Clearly, Suria Hill endeavours to deliver the exclusivity of elevated living while keeping residents well connected to the heart of the Klang Valley, with a focus on enhancing quality of life and long-term value for homeowners. The entire township enjoys direct access to a network of major highways, including Persiaran Mokhtar Dahari, LATAR Expressway, Guthrie Corridor Expressway (GCE), Damansara–Shah Alam Elevated Expressway (DASH), and New Klang Valley Expressway (NKVE). These key routes allow residents to travel seamlessly to Petaling Jaya, Shah Alam, Subang, Damansara, and Kuala Lumpur, supporting both daily commutes and

News, Property

IWG & PNB to launch new top-class workspaces at Malaysia’s tallest tower

International Workplace Group (IWG) has announced the signing of a new centre under its Signature brand, located at the landmark Menara Merdeka 118. It will add to IWG’s global network of 4,000 locations spanning 120 countries, and support IWG’s future growth as it continues to cater to the rising demand for hybrid working. The new Signature centre boasts two floors of flexible work solutions, with 637 workstations, three meeting rooms, 31 coworking desks, a business lounge, and ample open space to support businesses of all sizes, with the option for large, branded and customised client areas. The premium city centre location has excellent transport accessibility, with easy access to highways, major roads and immediate access to the MRT, LRT, and expressway networks connecting users to locations like Klang Valley, Ampang, Sungai Buloh, Rawang, Shah Alam, Bangsar, Seremban and the Kuala Lumpur International Airport. Founder and Chief Executive Officer of IWG Mark Dixon said, “We are establishing a stronger presence in Malaysia with the signing of Signature at the renowned Menara Merdeka 118 in Kuala Lumpur, a prime business hub and the ideal location to drive our expansion plans. The signing of our newest Signature location comes as the demand for quality hybrid work solutions and access to a vast network of locations across Malaysia continues to rise.” Dixon added, “Our proven workplace model not only boosts employee satisfaction and productivity but also supports a more sustainable way of working. Through our continued collaboration with PNB, we are offering businesses a prestigious address in one of the world’s most sought-after locations, combining iconic locations with sophisticated flexible workspaces.” In Malaysia, IWG has 45 centres across four brands – Regus, HQ, Signature and Spaces, including four new centres announced last year, as well as four more new centres expected to open this year. In Kuala Lumpur, IWG currently has 16 operational centres throughout the city. This new centre is the fourth IWG location within PNB-owned properties, following three previous centres across Johor and Kuala Lumpur. This expansion is part of IWG’s broader network growth strategy in Malaysia, aimed at increasing accessibility to flexible work solutions for professionals and businesses. Dato’ Rick Ramli, Deputy President and Group Chief Executive of PNB, said, “We are pleased to welcome IWG’s new centre at Merdeka 118 as part of our continued efforts to support high-quality workspaces in Malaysia.” “As more Malaysian businesses and professionals seek premium office spaces tailored to their operational needs, we remain committed to facilitating greater access to diverse and high-quality work solutions. The addition of IWG’s latest centre aligns with our broader objective of supporting the evolving needs of the professional community in Malaysia,” he added. IWG’s Signature brand, known for its world-class workspaces in landmark buildings in major global hubs, offers a premium working environment with a custom design reflecting the quality and nature of the building – Signature at Merdeka 118 reflects the brand’s commitment to excellence. Standing tall at 678.9 metres, Merdeka 118 is the tallest building in Malaysia and Southeast Asia, and the second tallest building in the world, and also the first building in Malaysia to target triple green building platinum accreditations – Green Building Index (GBI), Green Real Estate (GreenRE), and has recently been certified in Leadership in Energy & Environmental Design (LEED).

News, Property

EcoWorld Up 4% on PD Industrial Park Development

KUALA LUMPUR: Share prices of Eco World Development Group Bhd (EcoWorld) rose in early trade on Monday after signing a tripartite agreement with SD Guthrie Bhd and NS Corporation to transform 483.59 hectares in Bukit Pelandok, Port Dickson, into an integrated industrial park. At 10.25am, EcoWorld advanced to 4.0 per cent or 7.0 sen to RM1.82 with 107400 units traded. In a joint statement last Friday, the parties said the collaboration sets the wheels in motion for the development of Parcel C within Malaysia Vision Valley 2.0 (MVV 2.0). The development will be via a special purpose vehicle Eco Business Park Sdn Bhd (EBP7SB). EcoWorld will have a 55 per cent stake in EBP7SB, SD Guthrie, and NS Corp, 30 per cent and 15 per cent, respectively. MIDF Amanah Investment Bank Bhd said EcoWorld’s net gearing is expected to increase marginally to 0.39 times (x) from 0.37x. It remains positive on EcoWorld as the growing business park segment will drive earnings growth. The investment bank expects the impact on EcoWorld’s balance sheet to be minimal. “Assuming EBP7SB funds the land acquisition via 30 per cent equity and 70 per cent borrowings, capital requirement for EcoWorld is estimated at RM94 million (at 55 per cent stake), which will lift net gearing marginally higher to 0.39x from 0.37x in the first quarter of it’s financial year 2025,” it said in a research note today. Meanwhile, the project will be developed over nine years with the first launch targeted by the first half of 2026, which will support EcoWorld’s new sales prospects, said MIDF Amanah. –BERNAMA

News, Property

Sime Darby Property Launches RM2.4b Vision Business Park in Negeri Sembilan

KUALA LUMPUR: Sime Darby Property Bhd has unveiled the Vision Business Park (VBP), a 760-acre integrated industrial development located within the Malaysia Vision Valley 2.0 (MVV2.0) growth corridor in Negeri Sembilan, with an estimated gross development value (GDV) of RM2.4 billion. Launched on Friday, the project is expected to generate approximately 15,000 job opportunities, supporting the state’s long-term economic transformation efforts. Designed with an 80:20 industrial-to-commercial land-use ratio, VBP comprises 623 acres allocated for industrial use and 137 acres for commercial activities. The development includes ready-built factories, industrial plots, shop offices, and R&D centres, complemented by shared amenities such as centralised labour quarters and heavy vehicle parking. Speaking at the launch, Sime Darby Property Group Managing Director and CEO, Datuk Seri Azmir Merican, said VBP marks a pivotal step in the group’s industrial strategy. “VBP is a key step in our commitment to industrial development, supporting Negeri Sembilan’s economic transformation. As a future-ready industrial hub, it will attract businesses, create jobs, and strengthen the state’s position as an industrial growth centre,” he said. The project benefits from direct access to the Nilai-Labu-Enstek Road, offering strategic connectivity to the Nilai Inland Port, Kuala Lumpur International Airport (KLIA) and the North-South Expressway, making it an attractive proposition for companies in logistics, warehousing, and manufacturing. Sime Darby Property, which has already developed over 6,000 acres in Negeri Sembilan, is now expanding its footprint in southern Nilai with a strong focus on industrial and integrated developments. The launch was attended by Negeri Sembilan Menteri Besar, Datuk Seri Aminuddin Harun, along with key state officials and senior representatives from Sime Darby Property. Shares in Sime Darby Property closed two sen or 1.7% higher at RM1.22 on Friday, giving the group a market capitalisation of RM8.3 billion.–THE EDGE

ESG, Property

Malaysia Reaffirms Urban Sustainability Goals Ahead of ARCHIDEX & AREC 2025

KUALA LUMPUR: Malaysia’s Minister of Housing and Local Government, Nga Kor Ming, has reaffirmed the country’s commitment to sustainable and innovative urban development with the official preview of ARCHIDEX and AREC 2025 — Asia’s leading architecture business event. Set to take place this July at both MITEC (21–24 July) and the Kuala Lumpur Convention Centre (23–26 July), the dual-venue exhibition will feature nearly 1,000 exhibitors across 36,700 sqm of space — a 40% increase from 2024 — and is expected to draw over 56,000 visitors from more than 110 countries. Speaking at the launch held at Crowne Plaza KL City Centre on 17 April, Nga highlighted the event’s growing regional influence. “With over RM2 billion in investment value anticipated, ARCHIDEX and AREC 2025 are key platforms to drive business opportunities and regional best practices,” he said. Strategic Industry Collaboration Jointly organised by Pertubuhan Akitek Malaysia (PAM) and C.I.S Network Sdn Bhd, ARCHIDEX 2025 will anchor the annual Kuala Lumpur Architecture Festival (KLAF). PAM President, Adjunct Prof. Ar. Adrianta Aziz, emphasised the importance of DATUM — the event’s renowned architecture conference — which will feature 19 speakers from 12 countries this year. “DATUM inspires, ARCHIDEX activates. That’s the power of this platform — where thinking meets doing,” he said. Meanwhile, C.I.S President Dato’ Vincent Lim announced the introduction of KL Architecture Week, designed to position the city as Southeast Asia’s hub for architecture, heritage, and arts. New Features & Growth Drivers ARCHIDEX 2025 will spotlight new features, including: The World of Works (WOW): A first-in-ASEAN workplace simulation showcasing sustainable and tech-enabled office designs. Malaysia-China Customised Furniture Zone: A new initiative addressing growing demand for bespoke interiors. PAM Pavilion: In collaboration with the Malaysian Timber Council, promoting local timber on the global stage. FENESTEX: ASEAN’s dedicated exhibition for fenestration and façade technologies, tapping into the region’s booming UPVC and flat glass markets. AREC 2025: A Real Estate Renaissance Held concurrently with ARCHIDEX, the ASEAN Real Estate Summit (AREC) 2025 will convene from 23–26 July under the theme “The Real Estate Renaissance: Innovate, Integrate, Impact.” As part of Malaysia’s ASEAN Chairmanship, the summit will address regional housing and urbanisation challenges through the lens of sustainability and resilient infrastructure. Driving Malaysia’s Regional Role With strong government backing and international participation, ARCHIDEX and AREC 2025 aim to strengthen Malaysia’s position as a regional hub for sustainable built environment solutions, while unlocking economic growth and investment. “ARCHIDEX remains a pivotal platform for regional collaboration, advancing sustainable urban development and positioning Malaysia as a leader in ASEAN’s built environment sector,” said Nga. For more details, visit archidex.com.my.

News, Property

Crewstone International and Vince Group Launch Groundbreaking RM150 Million Real Estate Investment Fund

KUALA LUMPUR: In a significant move set to reshape Malaysia’s real estate and investment sectors, PEMC-licensed private equity firm Crewstone International Sdn Bhd has joined forces with Vince Group, a leading integrated real estate developer, to establish a RM150 million Real Estate Investment Fund. This landmark collaboration marks the creation of Malaysia’s first fully integrated real estate investment ecosystem — a seamless end-to-end platform designed to streamline the entire property investment journey, from acquisition and development to value creation and exit strategies. “This partnership sets a new benchmark for real estate investment in Malaysia,” said Ahmad Izmir, CEO of Crewstone International. “By combining our investment structuring capabilities with Vince Group’s robust property ecosystem, we are unlocking a future where real estate investing is smarter, scalable, and more accessible.” Targeting high-yield, risk-mitigated real estate opportunities across the country, the fund aims to deliver both capital preservation and attractive returns for institutional and qualified investors. Its strategic design reflects growing demand for innovation in alternative investment vehicles that blend stability with performance. Dato’ Vincent Nee, Group Managing Director of Vince Group, highlighted the transformative potential of the initiative: “We’re proud to collaborate with Crewstone to bring a bold vision to life, a one-stop, future-ready real estate platform designed to generate long-term value. This RM150 million fund is more than a financial vehicle, it’s a revolution in how real estate investment is approached in Southeast Asia.” The launch was formalised during a signing ceremony held in Kuala Lumpur, attended by key stakeholders and investors. The partnership is anticipated to drive innovation within Malaysia’s real estate landscape, while offering robust returns and strategic growth opportunities for aligned partners. As Malaysia continues to mature as a destination for institutional capital, this initiative is poised to set a precedent for how private equity and real estate development can collaborate to create scalable, investor-focused solutions.

Property

SkyWorld Acquires Mont Kiara Land for RM110 Million

KUALA LUMPUR: SkyWorld Development Bhd has acquired a 3.032-acre freehold parcel in Mont Kiara for RM110 million, marking its foray into the premium residential segment. The land, purchased from M S Tan Corporation Sdn Bhd, will be developed into high-end homes, complementing SkyWorld’s existing SkyAwani (affordable) and SkySignature (mid-range) series. CEO Lee Chee Seng said the acquisition aligns with SkyWorld’s strategy to diversify its offerings and strengthen its urban development presence. “Mont Kiara’s prime and scarce land position makes it ideal for luxury residential development,” he said, adding that the deal supports long-term growth and capitalises on rising demand for urban living. The acquisition will be financed through internal funds, IPO proceeds, and/or bank borrowings, and is expected to complete within nine months. Following this deal, SkyWorld’s land bank stands at 254.75 acres, nearly all in Malaysia. SkyWorld’s shares closed unchanged at 40.5 sen, with a market capitalisation of RM405 million. The stock has declined 28.3% year-to-date.

Property

Putrajaya Orders Temporary Closure of KL Tower

KUALA LUMPUR: The Ministry of Communications has ordered the temporary closure of the Kuala Lumpur Tower (KL Tower), citing safety and operational concerns amid an ongoing dispute between its former and current concessionaires. In an official statement, the ministry declared that Menara Kuala Lumpur Sdn Bhd’s (MKLSB) continued occupation of the premises beyond March 31, 2025, is considered “unlawful”. The tower will be closed to the public starting Thursday to facilitate maintenance and upgrades by the newly appointed operator. Effective April 1, LSH Service Master Sdn Bhd—a subsidiary of Lim Seong Hai Capital Bhd—has officially taken over the operations, management, and maintenance of KL Tower under a new 20-year concession agreement. The ministry reiterated that the landmark is government-owned, and its reopening date will be announced at a later time. “The Federal Land Commissioner has issued two eviction notices to MKLSB via letters dated April 3 and April 9. Any ongoing operations by MKLSB are being conducted without the government’s authorisation,” the ministry said. The transition has triggered a legal battle between LSH and MKLSB’s parent company, Hydroshoppe Sdn Bhd. Hydroshoppe, which acquired MKLSB from Telekom Malaysia in October 2022, filed a suit in March seeking RM1 billion in damages and an injunction to halt the concession transfer—an application that was ultimately denied. Despite the legal setback, MKLSB has continued its operations, most recently hosting a Hari Raya open house at KL Tower on April 13. The event was attended by former prime minister Tun Dr Mahathir Mohamad, who officiated the opening of a 28-year-old time capsule. The dispute underscores deeper concerns over the handling and transparency of public asset concessions, with broader implications for investor confidence and governance in Malaysia’s infrastructure sector.–THE EDGE

Property

Rental Growth Accelerates in Key Asian Cities Despite Global Uncertainty

Southeast Asia’s office markets have displayed robust recovery in Q1 2025 amidst significant regional shifts, according to Knight Frank’s latest Asia-Pacific Prime Office Rental Index. Jakarta, reversing an 18-month decline, leads this resurgence, buoyed by reduced new supply entering the market, thereby stabilising rents and lowering vacancies. Meanwhile, Indian markets achieved a record-breaking leasing volume of 1.7 million square meters, driven by a surge in transactions in Bengaluru’s Global Capability Centers. Seoul marked its 17th consecutive quarter of rental growth, registering a 6.9% year-on-year increase, with minimal vacancy rates due to strong demand in the financial sector. The positive momentum extended across Southeast Asia, with average rents increasing by 1.3% quarter-on-quarter, driven notably by Jakarta, Kuala Lumpur, and Bangkok. These cities saw improved conditions amidst growing demand from tech firms and multinational corporations expanding their regional footprints. Looking ahead, Knight Frank’s global head of occupier strategy and solutions, Tim Armstrong, highlighted the evolving impact of trade dynamics, anticipating cautious optimism among occupiers as they navigate uncertainties. Despite challenges, India and emerging Southeast Asia are expected to maintain resilience, driven by diversification strategies in response to the evolving global economic landscape. Key highlights from the Q1 2025 report include stable or increasing rents in 17 of 23 monitored Asia-Pacific cities year-on-year, underscoring regional stability amid varied market performances. Vacancy rates remained steady despite new supply additions, with India and Southeast Asia offsetting these impacts through tightening availabilities. While broader Asia-Pacific prime rents saw a slight decline quarter-on-quarter, the region’s outlook remains positive, with markets like Brisbane showing signs of rental growth moderation. Singapore’s prime office rents remained stable as occupiers explored cost-neutral alternatives amidst evolving market conditions. Christine Li, Knight Frank’s head of research, Asia-Pacific, noted landlords’ focus on occupancy amidst economic uncertainty, maintaining flat vacancies but observing softer rental trends, particularly outside mainland China. As global trade tensions persist, the market faces ongoing unpredictability, influencing occupiers’ long-term real estate decisions and prompting landlords to adopt flexible leasing strategies. Overall, while challenges persist, Southeast Asia’s office markets show resilience and adaptability, poised to navigate future uncertainties with strategic real estate decisions.

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