KUALA LUMPUR: The two-year-old SwhengTee International Real Estate Investors Club yesterday launched a one-stop property centre for real estate and marketing professionals.
The SwhengTee International Real Estate Exchange Centre, will be located in VSQ Corporate Tower 2 in Petaling Jaya, will act as a platform for networking support among property sector players. It is due to commence operations January next year.
Founder Gavin Tee said the premise will be housing all property investor clubs and service providers such as real estate agents, valuers, developers, lawyers, architects, interior designers, feng shui masters and financial advisers.
"It will be just like a stock exchange where buying and selling takes place surrounded by ample resources related to property, such as library and bookstore stocking books on real estate," he said at the media launch here yesterday.
Tee added that it will also have seminar rooms and a permanent exhibition space to allow real estate and marketing professionals conduct their activities and events, and an international section to cater for all overseas properties.
He said visitors can conveniently get advice and survey the property market at the centre.
"This will be a landmark place for all property buyers and investors. This will be very advantageous to the tenants when many of the industry's professionals set up their base there," said Tee.
The launch of the centre yesterday was witnessed by some of world-renowned former NBA legends and members of the All Star US PRO-Basketball Alumni, including Mitch Richmond, Dennnis Rodman and Horace Grant.
The basketball stars, whom Tee said are keen property investors, are in Malaysia on the invitation of SwhengTee International Sdn Bhd for a tour of Kuala Lumpur and will play a match in Shah Alam tonight.
By Business Times
Monday, July 16, 2012
'Try promos, exhibitions to sell off Bumi units'
KUALA LUMPUR: Property developers should try to sell off Bumiputera units through promotions and property exhibitions, before asking for a release mechanism for the unsold units.
"They should advertise in Malay and English newpapers and embark on other promotion measures. If not, they would be stuck and there will be property overhang," said Shikin Taib, managing director of MMC Sdn Bhd.
According to findings from a survey conducted by the Real Estate and Housing Developers' Association Malaysia (Rehda), Bumiputera allocation is the top reason contributing to property overhang.
Developers are complaining that unsold Bumi lots are affecting their profit margin.
"They are getting an average 30 per cent profit margin from each development. Their margins would be affected if they don't sell the Bumi lots at the beginning of the project," said Shikin.
MMC was the organiser of the Bumiputera Property Exhibition (BPEX 2012), a property showcase held over the weekend. It exhibited RM1.5 billion worth of properties, majority of which was located in the Klang Valley. Overall, 42 property developers took part, including PKNS, Glomac, MK Land, The Lion Group, Glenmarie Properties, Melati Ehsan and Equine Capital. They exhibited their residential properties, ranging from RM99,000 to RM8 million per unit.
Shikin said some RM100 million is expected from the sale of Bumi lots, about 40 per cent more than the last BPEX held in April.
By Business Times
"They should advertise in Malay and English newpapers and embark on other promotion measures. If not, they would be stuck and there will be property overhang," said Shikin Taib, managing director of MMC Sdn Bhd.
According to findings from a survey conducted by the Real Estate and Housing Developers' Association Malaysia (Rehda), Bumiputera allocation is the top reason contributing to property overhang.
Developers are complaining that unsold Bumi lots are affecting their profit margin.
"They are getting an average 30 per cent profit margin from each development. Their margins would be affected if they don't sell the Bumi lots at the beginning of the project," said Shikin.
MMC was the organiser of the Bumiputera Property Exhibition (BPEX 2012), a property showcase held over the weekend. It exhibited RM1.5 billion worth of properties, majority of which was located in the Klang Valley. Overall, 42 property developers took part, including PKNS, Glomac, MK Land, The Lion Group, Glenmarie Properties, Melati Ehsan and Equine Capital. They exhibited their residential properties, ranging from RM99,000 to RM8 million per unit.
Shikin said some RM100 million is expected from the sale of Bumi lots, about 40 per cent more than the last BPEX held in April.
By Business Times
UOA REIT Q2 pre-tax profit rises to RM14.5m
UOA Real Estate Investment Trust's pre-tax profit rose to RM14.583 million in the second quarter ended June 30, 2012, compared to the RM10.682 million posted in the same period last year.
Turnover for the quarter rose to RM24.409 million from RM20.286 million registered previously, the company said in a filing to Bursa Malaysia here today.
UOA REIT, which currently owns a RM 1.03 billion portfolio of six prime properties in Kuala Lumpur, said against the six months corresponding period last year, gross rental had improved by about 7.7 percent. It said the improvement is mainly due to better occupancy rates.
Meanwhile, total expenditure increased by about 10.9 per cent arising mainly from increased property operating expenses, and borrowing costs due to an increase in borrowing rates.
It said during the quarter under review, the occupancy rates remained stable with marginal improvement.
Barring unforeseen circumstances, the manager does not anticipate major fluctuation in the occupancy or rental rates in the second half of this year.
It will also continue to adopt an active operating and capital management strategy to enhance the yield and returns of existing properties while continuing to seek opportunities to further acquire real estate that meets the objectives of the trust.
By Bernama
Turnover for the quarter rose to RM24.409 million from RM20.286 million registered previously, the company said in a filing to Bursa Malaysia here today.
UOA REIT, which currently owns a RM 1.03 billion portfolio of six prime properties in Kuala Lumpur, said against the six months corresponding period last year, gross rental had improved by about 7.7 percent. It said the improvement is mainly due to better occupancy rates.
Meanwhile, total expenditure increased by about 10.9 per cent arising mainly from increased property operating expenses, and borrowing costs due to an increase in borrowing rates.
It said during the quarter under review, the occupancy rates remained stable with marginal improvement.
Barring unforeseen circumstances, the manager does not anticipate major fluctuation in the occupancy or rental rates in the second half of this year.
It will also continue to adopt an active operating and capital management strategy to enhance the yield and returns of existing properties while continuing to seek opportunities to further acquire real estate that meets the objectives of the trust.
By Bernama
Subscribe to:
Posts (Atom)
Posts
