Sunway Iskandar to roll out retail village, extreme park and hotel
Sunway Property’s Sunway Iskandar township development in Johor will be rolling out a retail village, an extreme park and a hotel over the next few years. Sunway Iskandar has a GDV of RM30 billion, and is by far the largest township development by Sunway Property. The 1,800-acre township consists of six precincts. Over the next five years, the developer will fork out an investment of about RM400 million on the retail, leisure and hospitality components as well as other community services. Sunway Big Box Village will be the first large-format retail village in Malaysia and Singapore with an open concept, while a 32-acre adventure-based extreme park called XPARK will be built adjacent to it. A hotel will be linked to the retail village, which is scheduled to begin construction in 1Q2018 and completed by mid-2019. (The Edge Markets)

Sunway Iskandar master plan (Image from Sunway Iskandar)

Seacera to develop RM10bil property project on Semenyih land
Seacera Group Bhd plans to develop some RM10 billion worth of properties within its 200.6ha (501.5 acre) land in Semenyih, Selangor under its proposed diversification from tile manufacturing. The company is planning to work with a prominent property developer to undertake a mixed project on the tract located about 8km from the Semenyih and Kajang town centres. Seacera will announce development plans for the land in the next six months, and the project is expected to last for 10 to 15 years. (NST Online)

Integrated development residents advised to form sub-management corporations
Those staying in integrated developments could choose to form their own sub-MCs (management corporations) to focus on issues related to the management of the residential segment of the development. “As integrated developments comprise many components, it is difficult for the management corporation of the whole development to take care of every stakeholder’s rights or to handle various conflicts that may arise,” said DBKL Commissioner of Buildings legal officer Md Azmi Mohd Shari. (The Edge Markets)

SP Setia halfway to meeting 2017 sales target
SP Setia Bhd has already secured sales of RM2.07bil for the first six months of this year, and is confident of meeting its sales target of RM4bil for the current financial year ending Dec 31, 2017 with launches totalling GDV of RM2.94bil scheduled for the remaining six months. Local projects contributed RM1.08bil, or 51.9% of total sales, while international projects contributed RM996.5mil, or 48.1%. For the second half of the year, its focus will be on the local market, with emphasis being given to mid-range landed property in the Klang Valley. (The Star Online)

KUB may monetise property assets to help expansion
KUB Malaysia Bhd is considering plans to monetise its property assets as the group seeks to raise RM70mil to pay for expansion of its core businesses. The group owns the 13-storey Menara Seri Kinta in Ipoh and one acre prime land in Petaling Jaya that has been earmarked for a commercial redevelopment project. (The Star Online)

Magna Prima 2Q17 profit down 86%
Magna Prima Bhd’s net profit in 2Q17 plunged by 86.22% to RM6.05 million from RM43.89 million in 2QFY16, when it recognised a fair value gain on investment property amounting to RM49.2 million in the otherwise loss-making quarter. Quarterly revenue, however, jumped 42.19% year-on-year to RM31.11 million. The quarter’s revenue and profit were contributed mainly from sales of remaining completed units of The Istana, Jalan Kuching Phase 1 Shop Office, Desa Metari commercial project and Jalan Kuching residential project. Almost all of Magna Prima’s topline in 1HFY17 was derived from its property development division. (The Edge Markets)

IGB REIT to issue RM5bil debt notes
IGB REIT plans to issue medium term notes (MTNs) of up to RM5 billion, which will have a tenure of 20 years from the date of the first issue. The proceeds raised from the issuance of MTNs will be advanced to IGB REIT and be utilised to finance the REIT’s investment activities and fund working capital requirements. The company said the issuance of the MTNs will be secured by such assets/properties of IGB REIT to be identified prior to each issuance. (NST Online)

Tawau community housing project to use IBS
The Tawau Parliamentary community housing project at Kampung Block 31 will use the ‘Interlocking Building System’ and innovation by Universiti Malaysia Sabah (UMS) and Universiti Teknologi Malaysia (UTM). The research effort by UMS and UTM which also uses recycled material will be used in the building of eight community houses in the Tawau parliamentary constituency. The community housing applications can be made through the Tawau Parliament office which will give priority to those registered under e-kasih. (The Borneo Post)

126,000 PPA1M houses in various stages of construction
A total of 126,007 out of 200,000 houses targeted to be built nationwide by 2020 through numerous 1Malaysia Civil Servants Housing (PPA1M)projects are now in various stages of construction. “Most of the near-complete and fully completed projects are in Putrajaya and the Klang Valley because there are many civil servants in those areas, but efforts are being intensified to expedite the implementation of PPA1M projects in other states,” said Chief Secretary to the Government Tan Sri Dr Ali Hamsa. (Malay Mail Online)