Property

Negeri Sembilan is fast emerging as a key growth frontier for property developers, with Sime Darby Property Berhad (Sime Darby Property) taking a pivotal role in spearheading large-scale development in the region through the Malaysia Vision Valley 2.0 (MVV2.0) initiative. MVV2.0, a catalytic development corridor under the National Physical Plan, aims to unlock the economic potential of southern Klang Valley by transforming Negeri Sembilan into a dynamic extension of Greater Kuala Lumpur. Central to this initiative is Sime Darby Property’s strategic activation of its landbank in Nilai and Labu. The company currently retains approximately 4,000 acres of developable land within MVV2.0, with a projected gross development value (GDV) of RM16 billion. This landbank serves as a key lever in advancing the long-term viability of the corridor. According to TA Securities, Sime Darby Property’s management views Negeri Sembilan as a rapidly emerging investment destination, offering industrial land at roughly half the cost of comparable sites in Selangor, while benefiting from superior infrastructure connectivity. This favourable cost-accessibility dynamic is contributing to the state’s growing appeal among industrial and logistics players. This strategic shift is increasingly evident in the company’s sales performance. Negeri Sembilan accounted for 20 per cent of Sime Darby Property’s total property sales in the most recent quarter—quadrupling its average contribution of five per cent in FY2024. Two projects underscore this rising prominence. Hamilton Nilai City has seen robust demand, while Vision Business Park (VBP), a 760-acre integrated industrial and commercial estate launched in April, has received encouraging early market response. VBP carries a projected GDV of RM2.4 billion and is positioned to serve as a hub for logistics operators, light manufacturers and technology-led enterprises. Strategically located near key infrastructure assets such as KLIA, KLIA2, the Nilai Inland Port and the North-South Expressway, VBP offers a range of product offerings including ready-built factories, industrial plots, research and development facilities, and commercial shop offices. As Sime Darby Property continues to anchor its growth strategy in high-potential corridors like Negeri Sembilan, its role in shaping Malaysia’s next-generation industrial ecosystem appears increasingly significant. -Business Times

KUALA LUMPUR: Building and infrastructure construction services provider, TCS Group Holdings Berhad (“TCS” or the “Group”), announced that its wholly-owned subsidiary, TCS Construction Sdn. Bhd. (“TCSCSB”), has secured a RM216.9 million contract from Impiana Impresif Sdn. Bhd. (“IISB”), a wholly-owned subsidiary of Bandar Raya Developments Berhad (“BRDB”) for the proposed construction and completion of 2 blocks of 48-storey commercial serviced apartments in Subang Jaya, Selangor known as Federal Avenue (“Contract”). Dato’ Ir. Tee Chai Seng (拿督郑再盛), Managing Director of TCS said, “We are pleased to have secured yet another project from BRDB, a valued returning client. This continued partnership reflects on our proven track record in delivering high quality projects, good workmanship with timely completion.” “The Contract will boost our order book and give us healthy earnings visibility for the coming financial years. Our priority remains on quality execution and timely delivery of our ongoing projects. At the same time, we continue to be optimistic about the market outlook for the local construction industry, as we continue to see emerging opportunities across both Peninsular Malaysia and East Malaysia,” Dato’ Ir Tee further added. The duration of the Contract is 35 months.

KUALA LUMPUR: Gamuda Bhd, through its wholly-owned subsidiary Gamuda Land (T12) Sdn Bhd, has announced the acquisition of a 148.11-hectare parcel of land in Kuala Langat, Selangor, for RM248.7 million. According to a filing with Bursa Malaysia, the strategic land parcel lies directly south of the existing Gamuda Cove development and will be integrated as an extension of the flagship township. The newly acquired site carries an estimated gross development value (GDV) of RM2.2 billion. The group stated that the expansion aims to strengthen its township offering by delivering differentiated, branded homes tailored to market demands in the surrounding areas, particularly Dengkil and Rimbayu. “This land addition will further enhance connectivity to and from Gamuda Cove, catering to the growing population in adjacent townships,” the company said. Completion of the acquisition is targeted for the second quarter of 2026, subject to customary conditions and approvals. In a separate statement, Gamuda Land reaffirmed its continued commitment to sustainable development, stating that upcoming projects on the new site will incorporate biophilic design elements and sustainable construction techniques to reduce carbon impact and elevate community liveability. Gamuda Land, which has delivered over 60,000 homes to date, continues to build on its robust track record in township development. The company has outlined an ambitious five-year investment plan of RM10.5 billion (US$2.4 billion), encompassing a total GDV of RM26 billion (US$6 billion) across key growth markets in Malaysia, Vietnam, and the United Kingdom. -Bernama

KUALA LUMPUR: Avillion Bhd  has proposed a private placement of 283 million new shares to raise approximately RM11.5 million, primarily to fund refurbishment works at its flagship property, Avillion Port Dickson. The proposed exercise is subject to shareholder approval. Datuk Dani Abdul Daim, the son of the late Tun Daim Zainuddin, holds a 21.8% stake in the company. Post-placement, his shareholding will dilute to 17.5%. According to its filing with Bursa Malaysia, Avillion intends to allocate RM4 million of the proceeds for the refurbishment of hotel rooms, the restaurant, gymnasium, and swimming pool. A further RM3.9 million will be channelled towards working capital, while RM3 million will be used for partial repayment of bank borrowings. The total cost of the refurbishment project is estimated at RM15 million. The remaining RM11 million required will be sourced through internal funds or bank borrowings. Refurbishment works are scheduled to commence in the third quarter of 2025, with a projected completion timeline of 24 months. As of now, Avillion’s total bank borrowings amount to RM76.5 million. The company also announced its intention to seek shareholder approval for a proposed variation in the utilisation of proceeds from its 2021 private placement. Initially, RM3 million from the earlier fundraising—earmarked for hotel upgrades and the development of an eco-tourism park at Avillion Admiral Cove—will now be redirected towards working capital and loan repayment. In 2021, Avillion raised RM22.7 million via a private placement at an issue price of 12 sen per share. Owing to the impact of the Covid-19 pandemic, RM5.5 million of the RM10 million originally allocated for loan repayments and upgrades was redirected towards operational needs. To date, RM2.6 million has been utilised for refurbishments at Avillion Hotel Port Dickson, specifically on its ballroom, function spaces, and public amenities. As of April 2025, RM3 million remains unutilised. Avillion confirmed the cancellation of the eco-tourism park project at Avillion Admiral Cove, which had not commenced. The group now aims to focus its resources on enhancing existing assets—namely, room upgrades, facility improvements, and ongoing maintenance at Avillion Port Dickson—to maintain competitiveness. The group stated it remains committed to asset improvement but will proceed cautiously in alignment with the market’s recovery trajectory. Future projects may be funded through debt financing or strategic partnerships. On Friday, shares of Avillion closed 11.11% higher at five sen, valuing the group at RM56.7 million. Year to date, the counter has gained 11.11%. -The Edge Malaysia

KUALA LUMPUR: WORQ, Malaysia’s leading coworking and flexible workspace provider, in partnership with master community developer Sunway Property, is proud to announce the launch of WORQ Sunway Velocity at Sunway V2 Tower, located within Sunway Velocity TWO. This partnership reflects the strong role of Sunway Property and WORQ as key enablers in developing a vibrant business hub as a leading MSC Cybercentre. By introducing a coworking community that supports entrepreneurs, startups, and remote professionals, WORQ strengthens Sunway Property’s vision of building a future-ready, dynamic business hub in Cheras and acts as a catalyst for innovation and collaboration. This is WORQ’s second outlet in a Sunway Property development following the success of WORQ Sunway Putra in Sunway Putra Mall, Kuala Lumpur. The first outlet in Sunway Putra achieved full occupancy within one month, surpassing industry standards of up to twelve months. Chong Sau Min, Chief Executive Officer of Sunway Property shared “We extend our heartfelt congratulations to WORQ on the launch of their 10th outlet – a remarkable milestone that we’re honoured to be part of. As the Master Community Developer, we’re proud to continue our partnership with WORQ again, after the continuing success of the Sunway Velocity location. This partnership reflects our Build-Own-Operate model – where we not only build and invest in our townships, but actively curate the right components to ensure long-term vibrancy and value creation. WORQ fits perfectly into this broader vision as the ‘Work’ pillar within our ‘Live, Learn, Work, Play’ ecosystem at Sunway Velocity TWO, delivering flexible workspaces that support today’s evolving workforce. This is the perfect location for WORQ’s 10th outlet, as it functions as a hub where you have public transport, medical centres, a shopping mall, and more — providing a holistic environment for those at work. This is a partnership that combines two companies that share the same goals of creating amazing spaces that serve the needs of those who occupy them.” The partnership between WORQ and Sunway Property is the beginning of a larger mission to cultivate an ecosystem where businesses can grow and integrate work-life balance seamlessly into the surrounding community. With WORQ, Sunway Velocity TWO aims to become a more dynamic, accessible, and innovation-driven business hub, in line with Sunway Property’s long-term vision of creating future-ready urban ecosystems. Creating an inclusive and sustainable hub  Sunway Property has transformed a once-dilapidated area into Sunway Velocity, a sustainable township in Cheras where people live, learn, work, and play within a safe and connected ecosystem. Designed as a 15-minute city, it offers easy access to public transport, green spaces, healthcare, retail, and business hubs. Sunway Velocity TWO builds on this vision with a 65:35 mix of residential and commercial spaces, seamlessly linked to the main township, reflecting Sunway’s mission to elevate urban living through sustainable, people-focused design. The latest WORQ outlet at Sunway Velocity TWO redefines the modern workplace by seamlessly blending retail therapy, hospitality comforts, and accessible healthcare into one dynamic destination. This holistic approach to urban planning elevates the needs of today’s workforce, offering a convenient, well-rounded environment that supports both professional productivity and well-being. With its integrated amenities, Sunway Velocity TWO fosters a balanced, efficient, and vibrant lifestyle for its community. Implementing the flex work lifestyle  As the modern workforce continues to evolve, flexibility has become more than just a perk, it’s a necessity. The latest location at Sunway Velocity TWO fits in seamlessly with WORQ’s expansive network of cloud offices that offer professional-grade workspaces, all conveniently located closer to home. This decentralised model helps reduce the strain of long, stressful commutes, making it easier for professionals to attend meetings, team meet-ups, or work gatherings without sacrificing time, energy, or productivity. With over 10 outlets linked to the train transit lines, WORQ’s transit-oriented development (TOD)-integrated model aims to make commuting easier for everyone and to take advantage of the extensive public transport network available. Around 50% of WORQ’s members use trains as part of their daily commute, supporting a shift toward more sustainable transportation and contributing meaningfully to ESG goals by reducing reliance on cars. “We are glad to extend our successful partnership with Sunway Property with the launch of our 10th outlet at Sunway V2 Tower in Sunway Velocity TWO. Together, we are creating what will be a thriving hub where people don’t just work, but collaborate and build something together beyond work. Like all of our locations, the latest one is right in the heart of the city centre, within walking distance, with access to MRT and LRT stations. We are redefining what it means to work in Malaysia, and collaborating with partners like Sunway is helping us reach our goal of improving the work-life experience for millions of Malaysians,” expressed Stephanie Ping, co-founder and CEO of WORQ. WORQ targets 1 million sq ft of managed space by 2030, with its expansion already underway and its next hub set to launch in Bandar Utama in Q2 2025. This latest outlet further strengthens WORQ’s cloud office infrastructure, empowering members of the WORQ community with greater freedom to work from anywhere, offering seamless mobility across all locations. As more young Malaysians join the workforce and companies look for ways to adopt flexible work arrangements, businesses that prioritise flexibility will attract and retain top talent, with coworking spaces like WORQ supporting this shift. The launch of WORQ Sunway Velocity encourages Malaysia’s workforce to step into a new era where work-life balance is not a luxury but a fundamental part of the professional journey.