Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
post
Icon-facebook Icon-instagram-1 Linkedin
Newsletter
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
post

Property

Experts, Property

Chinese Buyers Shift Focus from U.S. Real Estate to Southeast Asia and Australia

/

KUALA LUMPUR:  Chinese ultra-high-net-worth individuals are significantly shifting their property investment strategies, according to new data from real estate network Juwai IQI. Once dominant in the U.S. market, Chinese buyers are now favouring Southeast Asian countries and Australia, with Thailand emerging as the top destination for luxury residential property purchases priced at US$5 million and above. “Thailand has overtaken the United States as the most sought-after location,” said Kashif Ansari, Co-Founder and Group CEO of Juwai IQI. “We’re seeing a clear pivot — today’s buyers are motivated by lifestyle and personal enjoyment, not by emigration opportunities.” Emerging Markets Replace Traditional Giants The ranking of top destinations has undergone a dramatic reshuffle. In 2023, the U.S., UK, and Singapore held the top three spots. A year later, these have been displaced by Thailand, Australia, and Canada. Malaysia has also made a notable leap, climbing to fourth place in 2024 from outside the top ten the previous year. Top Destinations for Homes Over US$5 Million 2024 2023 1 Thailand United States 2 Australia United Kingdom 3 Canada Singapore 4 Malaysia Australia 5 United Kingdom UAE 6 Korea Japan 7 United States Thailand 8 Japan Canada 9 Singapore Korea 10 Spain Austria The drop in U.S. popularity is especially stark, falling from first place in 2023 to seventh in 2024. Similarly, the UK and Singapore have slid in rank, as buyers turn their attention to cities that offer better value, accessibility, and lifestyle benefits. A Lifestyle-Driven Market One of the most significant changes in buyer motivation is the decline in emigration-focused purchases. Only 3% of buyers in 2024 indicated that emigration was their primary reason for investing, down from 7.25% in 2023 and 11% in 2019. Instead, a vast majority — 94% — are purchasing properties for personal or family use. Ansari explained that this trend reflects a new kind of global mobility. “These buyers are no longer chasing passports or immigration programmes. They are investing in homes that align with their lifestyle — for vacations, education, or simply enjoyment. It’s about quality of life.” Proximity to international schools remains a top consideration, with 16% of respondents listing it as a priority. This points to a broader trend: Chinese high-net-worth families are looking for properties that support long-term living arrangements, particularly for their children’s education or multigenerational use. Visa Programmes Tighten, Buyer Behaviour Shifts The global tightening of real estate-linked visa programmes has played a role in this shift. Several countries are curbing or scrapping golden visa options, prompting investors to reconsider their strategies. Spain is ending its golden visa programme and moving to ban non-residents from purchasing second homes. Portugal has removed real estate from its visa criteria, and Greece has raised the minimum investment requirement from €250,000 to €800,000. Ireland has already closed its investment visa scheme entirely. Chinese nationals previously dominated these schemes. In Ireland, for instance, they accounted for 89% of golden visas awarded. In Portugal and Spain, the figures were 64% and 62%, respectively. With such routes now closed or restricted, Chinese buyers are focusing less on residency incentives and more on intrinsic property value. Malaysia on the Rise One of the standout stories in the 2024 data is Malaysia’s growing appeal. The country now ranks fourth in the global list of preferred destinations for ultra-luxury homes. According to Ansari, Malaysia offers a compelling blend of affordability, international schooling, and a high-quality lifestyle — comparable to Bangkok or Singapore, but at a fraction of the cost. Prime property prices reinforce this value. In Kuala Lumpur, average prices for luxury homes stand at just $240 per square foot, compared to $1,090 in Bangkok and $1,810 in Singapore. Malaysia’s revised Malaysia My Second Home (MM2H) programme, combined with political stability and a strong cultural affinity with China, makes the country a practical and attractive option for wealthy Chinese families. Malaysia is also seeing a surge in tourism and education-linked migration. In the first five months of 2024 alone, over 1.2 million Chinese tourists visited the country. Chinese student enrolment in Malaysian universities has increased by 35% between 2021 and 2023. Australia’s Enduring Appeal Australia has climbed to second place on the list, thanks to a combination of educational opportunities, political stability, and a favourable currency exchange. The Australian dollar declined 5% against the yuan in 2024, enhancing purchasing power for Chinese buyers. Meanwhile, Australia continues to attract strong interest from Chinese students — more than 221,000 were enrolled in 2024 — and remains the top source of approved foreign residential investment. Chinese buyers in Australia spent an average of AU$1,044,386 on residential property in Q2 2024. Cities like Sydney and Melbourne are expected to remain on the radar of luxury buyers well into 2025. Looking Ahead As global mobility increases post-pandemic and visa restrictions reshape investment channels, the Chinese ultra-wealthy are rewriting their playbook. They are no longer just looking for assets that offer a gateway to the West. Instead, they are choosing locations that match their lifestyles, offer world-class amenities, and provide long-term value for themselves and their families. Markets to watch in 2025 include London, Bangkok, Vancouver, Sydney, and Melbourne — cities that combine cultural relevance, educational access, and liveability. “Ultimately, these buyers are global citizens,” said Ansari. “They want homes that reflect who they are and how they want to live — not just where they can get a visa.”

News, Property

Paramount’s Unit and Two Others Face Lawsuit Over Taman U-Thant Land Deal

/

KUALA LUMPUR: Paramount Corporation Bhd’s 70%-owned subsidiary, Tanah Bayumas Sdn Bhd (TBSB), along with representatives of Adamprimus & Co, who are the appointed receivers and managers of Prismaworld Embassyview Sdn Bhd, and RHB Bank Bhd, are being sued over TBSB’s RM145 million acquisition of a prime parcel of land in Taman U-Thant, Kuala Lumpur. The lawsuit, filed on 7 March in the commercial division of the Kuala Lumpur High Court by Prismaworld Embassyview Sdn Bhd — the current landowner under receivership — seeks to void the sale and purchase agreement (SPA). Alternatively, Prismaworld is claiming RM313 million in damages against all three parties. Named in the suit are: TBSB as the first defendant Datuk Adam Primus Varghese Abdullah and Macpherson Simon of Adamprimus & Co as second defendants RHB Bank, the charge holder of the property, as the third defendant It is important to note that Adamprimus & Co is not a law firm nor a representative of Paramount or TBSB in any capacity. Rather, the firm — a licensed professional practice in insolvency and restructuring — was appointed as receiver and manager of Prismaworld Embassyview Sdn Bhd. Prismaworld alleges the SPA, signed on 12 December 2024 between TBSB and Adamprimus & Co, is invalid. The plaintiff is also accusing RHB Bank of breaching its duties as a legal charge holder and is seeking to bar all three defendants from any further dealings with the land until the matter is resolved in court. Should the court void the sale, Prismaworld has expressed its intent to sell the land to Al Shamal LLC-FZ. The injunction application is scheduled to be heard by the High Court on 20 May. In a statement, Paramount clarified that the lawsuit is not expected to have a material impact on the group’s financials. The SPA includes provisions allowing TBSB to terminate the transaction and seek a refund in the event of legal complications. TBSB has appointed legal counsel and stated its confidence in defending against the injunction. The land in Taman U-Thant is considered a key strategic asset, situated only 700 metres from Paramount’s existing luxury developments, The Atrium and The Ashwood. The site was projected to yield a gross development value (GDV) of at least RM300 million over five years. Paramount’s shares ended trading on Friday up two sen, or 2.11%, at 97 sen, giving the group a market capitalisation of RM604.09 million.

Property

Sunway Property Unveils Sunway Flora 2

/

KUALA LUMPUR: Sunway Property, a master community developer, has unveiled Sunway Flora 2, the latest addition to its highly anticipated Bukit Jalil development. Set to cater to the evolving needs of modern urban dwellers, Sunway Flora 2 is designed to reflect the changing dynamics of multigenerational and sustainable living. As part of the Sunway Flora Signature Series, Sunway Flora 2 builds on the success of its predecessor, Sunway Flora, which saw an 80% take-up rate in under two years. With this new launch, the development introduces sustainable living features, thoughtful design for multigenerational living, and stands out as one of the few pet-friendly high-rise residences in the area. “We’re excited to introduce Sunway Flora 2, which truly embodies our brand promise — With You For Generations. This development represents our commitment to meeting evolving lifestyle needs while fostering communities that are both sustainable and inclusive,” said Chong Sau Min, CEO of Sunway Property. A Signature Home Designed for Modern Living Set for launch in April 2025, Sunway Flora 2 features 686 residential units spread across two towers, ranging in size from 764 sq ft to 1,259 sq ft. Prices start from RM568,000. Designed using Sunway Property’s SDDA (Sunway Design and Development Architecture), the development focuses on Sustainability, Innovation, Health & Wellness, and Lifestyle & New Experiences. Units include 2 to 4 bedrooms, with expansive living spaces designed to maximise natural light and ventilation. Strategic Location with Easy Connectivity Strategically located in the heart of Bukit Jalil, Sunway Flora 2 offers a car-lite lifestyle, with a 550m covered walkway that connects directly to Muhibbah LRT Station, enhancing commuting convenience and reducing the residents’ carbon footprint. Additionally, the development enjoys excellent connectivity to major highways such as the Kesas Highway, Bukit Jalil Highway, and KL-Seremban Highway, among others. Sunway Flora 2 also features an integrated retail strip within its compound, providing residents with easy access to dining, shopping, and leisure facilities. Sustainability and Green Living at the Core Sustainability is central to Sunway Flora 2’s design, which includes urban farming areas and landscaped gardens that bring greenery into the urban landscape. The development also incorporates energy-efficient designs, rainwater harvesting, and sustainable drainage systems to conserve resources. Additionally, residents will have access to 14 electric vehicle (EV) charging stations, supporting greener mobility. Pet-Friendly and Multigenerational Living Sunway Flora 2 is one of Bukit Jalil’s few pet-friendly residences. The development features dedicated pet play areas on Levels 3 and 4, providing a safe and engaging environment for residents’ pets to socialise and play. Designed for families at every stage of life, Sunway Flora 2 integrates elderly-friendly ramps, child-safe designs, and wheelchair-accessible spaces to ensure inclusivity. The development also offers co-working spaces, entertainment hubs, and relaxation areas, fostering a balanced and connected lifestyle. A Vibrant Community with Thoughtful Amenities The development boasts six levels of lifestyle facilities that promote a holistic, community-driven lifestyle. Amenities include: Badminton and pickleball courts Sky Dining Lounge Karaoke room Integrated kids’ play area Infinity pool Gymnasium Lush landscaped gardens With these facilities, Sunway Flora 2 offers spaces where families can bond, work, play, and relax, creating meaningful connections across all ages and interests. A Place for Families to Grow and Thrive “Sunway Flora 2 brings the SDDA principles to life with a design that meets the real needs of today’s families. Thoughtfully designed for multigenerational living, it ensures comfort, safety, and a sense of belonging for every age — a place where families can grow and thrive for generations,” said Lee Kar Loon, Chief Operating Officer of Sunway Property. In addition, homebuyers of Sunway Flora 2 will automatically become members of Sunway Property+, an exclusive aftersales programme offering services like Care+ (home maintenance services), Rent+ (rental advantages), and Rewards+ (exclusive invitations and discounts). For more information, visit www.sunwayflora2.com or contact 1700-81-1155.

News, Property

Minimal Impact on Malaysia’s Construction Sector from US Reciprocal Tariffs, Says MIDF

/

KUALA LUMPUR: The newly imposed 24 per cent reciprocal tariff on Malaysian imports into the United States, effective April 9, is expected to have minimal direct impact on the domestic construction sector, according to MIDF Amanah Investment Bank Bhd. In a sectoral note released today, MIDF highlighted that the construction industry remains primarily domestic in nature, distinguishing it from export-reliant sectors such as automotive and consumer electronics. As such, it is largely insulated from direct trade shocks, though secondary effects through cost inputs could arise. “While the tariffs may exert upward pressure on input costs—particularly steel or cement if global supply chains are disrupted—most of the construction companies under our coverage have no direct revenue exposure to the US market,” the bank stated. The companies cited include Malaysian Resources Corporation Bhd, WCT Holdings Bhd, Malayan Cement Bhd, Cahya Mata Sarawak Bhd, Gamuda Bhd, and Sunway Construction Group Bhd (SunCon). These firms primarily operate within Malaysia, limiting their vulnerability to international tariff policies. MIDF noted that IJM Corporation Bhd has minor exposure to the US through exports of industrial concrete products, but this is not expected to materially affect its overall outlook. Even in cases like SunCon’s data centre projects for US-based hyperscalers, the work is executed within Malaysia and hence unaffected by the tariffs. “Overall, the broader construction sector remains well-shielded from the immediate implications of the US-Malaysia tariff action,” MIDF stated, while acknowledging potential indirect risks from fluctuations in global raw material prices. The investment bank remains positive on the construction outlook, citing a favourable cost environment, stable input prices, and continued momentum in industrial and infrastructure projects. Steel bar prices, for instance, have continued to decline for the fourth consecutive month due to global oversupply. Meanwhile, domestic cement prices remain steady, underpinned by controlled production levels and stable raw material costs. This pricing environment has helped cushion contractors against margin erosion. “Despite geopolitical uncertainties such as the Liberation Day tariffs, we see limited downside risk to the sector, given its domestic focus, low exposure to US markets, and manageable input costs,” MIDF added. As of February 2025, cement prices in Malaysia have held steady at RM380 per tonne for the 19th straight month since July 2023. This prolonged stability reflects a balanced supply-demand landscape and disciplined cost management within the industry.

Property

Grade A office rents on Hong Kong Island down 4.3% in February

/

According to a Knight Frank report, in February, the overall average Grade A rent in Hong Kong Island continued to decline, dropping by 0.5% MoM and 4.3% YoY to HK$60.8 per sq ft. There has been notable activity in smaller office spaces, particularly those ranging from 2,000 to 3,000 sq ft. The legal sector is experiencing significant growth due to the increasing complexity of financial markets, said Knight Frank, resulting in heightened demand for specialised legal services. This trend has led to new entries and expansions by law firms focusing on private equity funds, investment trusts, exchange traded funds (ETFs) and other finance-related matters. “Recently, two UK law firms have set up their new outposts in Hong Kong: one firm leased the entire 21st floor of Gloucester Tower, Central, covering 12,600 sq ft, while the other secured 3,000 sq ft in K11 ATELIER, Quarry Bay,” the report added. Here’s more from Knight Frank: Meanwhile, the finance sector remained active. For instance, a multinational company providing commercial insurance brokerage services leased 23,000 sq ft on the 25th floor of Two Taikoo Place, relocating from Causeway Bay; while a large-scale transaction involving an alternative investment firm leasing 55,049 sq ft was recorded in The Henderson. On another front, there has been an increase in inspections and inquiries from the crypto sector, which typically prefers smaller office spaces and co-working environments. Government’s investments in Web3 infrastructure and talent development, coupled with tax relief on crypto profits for hedge funds and private equity firms, are anticipated to attract investment. The office leasing market is currently facing significant challenges, including declining rents, high vacancy rates and an oversupply of space. We expect that the measures announced in the Budget—specifically, the halt on releasing new commercial sites for sale in the coming year and the rezoning of some commercial properties for residential use—will stabilise the supply-demand dynamics of the office market and mitigate further rental pressures.–REAL ESTATE ASIA

Property

IJM Corp’s RM2.4 Billion Finsbury Circus Project Fuels Global Expansion

/

KUALA LUMPUR: IJM Corp Bhd’s Finsbury Circus project in London is set to deliver substantial value to the company, with an impressive gross development value (GDV) of RM2.4 billion. This development is a major boost to the group’s international property portfolio, according to MIDF Research. As part of its medium-term strategy, IJM Corp aims to expand its investment property portfolio to RM2 billion over the next five years. This ambitious plan will focus on strategically selected overseas assets that offer prime locations, sustainability credentials, and strong tenant profiles. One of the key highlights of the Finsbury Circus development is the long-term lease agreement signed with global law firm Simmons & Simmons LLP. The firm has committed to a 20-year lease, occupying approximately 62% of the 25 Finsbury Circus property, with an option to extend to 80%. This lease agreement is seen as a testament to the property’s appeal and the effectiveness of IJM Corp’s strategic plan to diversify and develop high-quality, income-generating assets. For the third quarter of the financial year ending December 31, 2024, IJM Corp reported a 12.9% year-on-year increase in net profit to RM113.3 million, driven by a 4.4% growth in revenue to RM1.54 billion. However, the company experienced a slight dip in its cumulative nine-month earnings, with net profit falling by 6.9% to RM274.4 million due to unrealised foreign exchange losses. Despite this, analysts remain optimistic, expecting IJM Corp to deliver strong earnings growth in the coming years, bolstered by a robust pipeline of industrial contracts, including several hyperscale data centre projects valued at a total of RM12 billion.-NST

Property

MM2H Visa Injects RM455.8 Million Into Malaysia’s Economy

/

KUALA LUMPUR: The latest data reveals that Malaysia’s revamped Malaysia My Second Home (MM2H) visa programme has injected a staggering RM455.8 million into the economy within just six months, following policy changes implemented in June 2024. With 782 new visa approvals, the programme is on track to generate nearly RM1 billion in annual investments, according to IQI Co-Founder and Group CEO Kashif Ansari. MM2H: A Major Economic Driver “Over the past six months alone, MM2H visa holders have contributed RM455.8 million, benefiting Malaysia in two key ways,” Ansari explained. “Firstly, their funds circulate through local financial institutions via fixed deposits, supporting loans and economic development. Secondly, MM2H participants invest significantly in real estate, particularly in luxury homes, stimulating the property market and related industries.” With 319 principal applicants and 463 dependents approved under the programme in this period, each main applicant brings an average of 1.5 family members into Malaysia, further amplifying economic activity. A Global Appeal Beyond China While Chinese nationals continue to be the largest group of MM2H applicants, they now represent less than one-third of total approvals. Australia ranks as the second-largest source of applicants, with South Korea, Japan, Bangladesh, and the United Kingdom also contributing significant numbers. “MM2H is more international than many realize,” Ansari noted. “We see strong demand from countries across Asia and beyond, showcasing Malaysia’s global appeal as a top destination for expatriates.” Why Foreigners Choose Malaysia Malaysia’s attractiveness lies in its affordable yet high-quality lifestyle, rich cultural diversity, excellent education system, and fast-growing economy. Additionally, Malaysia provides a relatively lower language barrier for Chinese applicants, with Mandarin-speaking services widely available—a major advantage for families bringing elderly relatives who may not speak English. “Many Malaysians may not fully appreciate just how desirable their country is,” Ansari remarked. “Foreigners are willing to invest significantly to live here because Malaysia offers an exceptional quality of life at a fraction of the cost compared to Western countries.” What’s Next for MM2H? The government’s 2024 reforms introduced a three-tiered visa system, offering longer residency periods for greater financial commitments. Additionally, MM2H holders must now purchase a home and retain ownership for at least 10 years. To attract younger, working-age participants, age requirements were lowered, and minimum income thresholds removed. Looking ahead, further enhancements could boost MM2H’s impact, including easier work and business opportunities for visa holders and tax incentives to encourage foreign entrepreneurs to establish businesses in Malaysia. “With MM2H driving close to RM1 billion annually in investments, it’s already proving to be a major success,” Ansari concluded. “With the right improvements, its potential to fuel Malaysia’s economic growth could be even greater in the years ahead.”    

Property

Why Asia’s Elite Are Investing in Property

/

Despite a volatile macroeconomic landscape, family offices in the Asia-Pacific region are strengthening their commitment to real estate, recognizing the sector’s potential for both capital appreciation and wealth preservation. According to The Wealth Report, Knight Frank’s latest survey of 150 single and multi-family offices worldwide, investors are increasingly diversifying into high-growth real estate sectors such as luxury residential, industrial logistics, and living spaces. The survey, conducted between November and December 2024, covered 121 single-family offices, 18 multi-family offices, and 11 senior investment heads. Notably, 51% of surveyed offices are headquartered in Asia-Pacific, highlighting the region’s growing influence in global investment strategies. Major hubs such as Singapore, Sydney, and Hong Kong SAR are emerging as key centers for wealth management and property investment, alongside established markets like London, New York, and Geneva. Growing Allocations to Real Estate With total assets under management (AUM) exceeding US$84 billion across the surveyed firms, the findings indicate a significant shift toward real estate: 40% of family offices operate businesses with real estate holdings. 28% increased their real estate allocations in the past 18 months, compared to just 17% who reduced exposure. Office spaces (20%), luxury residential (17%), industrial (14%), and hotels (12%) remain the most preferred asset classes. Looking ahead, real estate investment appetite continues to strengthen. 44% of family offices plan to increase their property exposure over the next 18 months, with the highest interest in Living sectors (14%), Industrial/logistics (13%), and Luxury residential (12%). “Despite concerns over macroeconomic conditions, family offices remain bullish on real estate, particularly in Asia, where diversification into emerging sectors like data centers and living-related assets is gaining traction,” said Christine Li, Head of Research at Knight Frank Asia-Pacific. Challenges and Investment Strategies While optimism remains high, investors face structural challenges in expanding their real estate portfolios. The top barriers include: Identifying reliable partners/operators (23%) Complex tax regulations (20%) Intense competition for assets (19%) Regulatory and compliance hurdles (17%) In response, family offices are shifting away from traditional core investments toward opportunistic (31.9%) and value-add (30.3%) strategies, seeking higher returns in a market shaped by rising interest rates and shifting economic conditions. A Regional Focus with Global Ambitions Asia-Pacific family offices exhibit a strong preference for domestic real estate investments, with 70% of their portfolios concentrated in local markets. Countries such as New Zealand (93%) and Australia (90%) demonstrate particularly high domestic investment levels. However, investors in Hong Kong SAR (33%) and Singapore (41%) are expanding their reach, targeting opportunities in both regional and international markets. For most family offices, real estate remains a long-term strategy: 37% of investments have a horizon of nine years or more 32% span between three to six years Only 3% of transactions are made with a sub-three-year outlook Shifting Dynamics Among Family Offices The leadership of family offices remains predominantly baby boomer-led (50%), with Gen X (36%) following closely behind. However, the next generation is increasingly influencing investment decisions: 58% of family offices have involved younger generations in decision-making 47% report some shifts in investment strategies, with 18% seeing a significant transformation Millennials and Gen Z are prioritizing sustainable investments, with 63% of millennial investors actively allocating capital to ESG-focused assets, compared to 35% of baby boomers Singapore: A Growing Wealth Hub Singapore continues to solidify its position as a global wealth and investment hub. The number of registered single-family offices (SFOs) surged from 400 in 2020 to over 2,000 by 2024, underscoring the city-state’s appeal to high-net-worth individuals seeking stability and pro-business policies. “In an era of rising geopolitical tensions and economic fragmentation, Singapore remains an attractive destination for wealth preservation and capital deployment,” said Galven Tan, Chief Executive Officer at Knight Frank Singapore. In 2024 alone, family offices played a crucial role in high-profile property acquisitions previously dominated by institutional investors. Notable transactions included: Admirax Industrial Building – Sold for S$154 million 21 Collyer Quay (Office Building) – Acquired for S$688 million River Valley Apartments (Collective Sale) – Closed at S$56 million, brokered by Knight Frank Singapore The growing influence of family offices in real estate investment signals a major shift in global wealth management. With a stronghold in Asia-Pacific, these investors are actively diversifying into resilient and high-yielding property assets, overcoming structural challenges through strategic partnerships and innovative investment approaches. As family offices continue to evolve, the next generation of leaders is expected to drive further changes, particularly in sustainable and technology-driven real estate investments.

Property

Radium Development Berhad’s PBT Surges 29% to RM24.9M in FY2024

/

KUALA LUMPUR:  Radium Development Berhad (“Radium” or “the Group”) (KLSE: RADIUM), a leading Klang Valley property developer, has reported robust financial results for the financial year ended 31 December 2024 (“FYE2024”), driven by strong project performance and strategic expansion. Radium’s revenue rose 19.1% to RM152.8 million (FYE2023: RM128.3 million), supported by key projects such as Suite Canselor @ Ampang, Vista Adesa, and Radium Adesa @ Sungai Besi. Profit before tax (“PBT”) surged 29% to RM24.9 million (FYE2023: RM19.3 million), attributed to higher revenue and improved cost efficiencies. In 4Q FYE2024, revenue jumped 63.3% to RM46.2 million (4Q FYE2023: RM28.3 million), though PBT was lower at RM9.5 million (4Q FYE2023: RM15.3 million) due to a one-off fair value gain in the previous year. As of 31 December 2024, Radium maintains a strong balance sheet with RM244.5 million in cash and a low gross gearing ratio of 0.13 times against shareholders’ funds of RM767.6 million. Strategic Growth & Market Expansion Radium continues expanding its project pipeline, with the successful launch of Radium Arena @ Old Klang Road (GDV: RM550 million) and high take-up rates for Desa East Residences. Recent land acquisitions in Cheras and Ampang add GDVs of RM2.54 billion and RM470 million, respectively, strengthening future development prospects. Diversifying beyond property development, Radium is entering the hospitality sector with a 145-room boutique hotel at Suite Canselor @ Ampang, marking a new growth avenue. Future Outlook Datuk Gary Gan Kah Siong, Group Managing Director, stated: “Our strong FY2024 results underscore Radium’s resilience and growth potential. Demand for our developments remains strong, and our strategic land acquisitions, coupled with diversification into hospitality, position us for long-term success. With a solid financial base and a low gearing ratio, we are well-placed to drive sustainable growth and enhance shareholder value.” Moving forward, Radium will continue expanding its land bank in prime locations, diversifying revenue streams, and delivering high-quality projects to meet evolving market demands.

Icon-facebook Icon-instagram-1 Linkedin
  • Sitemap

Copyright © 2024 The Exchange Asia. All rights reserved. Powered by Web Design Malaysia.

Scroll to Top

Subscribe
FREE Newsletter