Waterfront homes command 40% premium on average globally, says Knight Frank
Waterfront properties command an average 40% higher price compared to their inland counterparts, according to the new Knight Frank Global Waterfront Report. Harbour-side addresses command the highest premium at 59.1% followed by beachfront homes (58.5%), river (36.8%) and lakeside (32.7%) homes. Australia dominated the Knight Frank Global Waterfront Monitor with Sydney (89.3%), the Gold Coast (64.1%) and Perth (53.2%) leading the rankings with Dubai (50.7%) and Paris (48%) sitting in fourth and fifth position. However, not all prime waterfront properties are equal and the premiums vary depending on location and amenities. Where water is in abundance – island properties such as Hong Kong and Singapore – the premium is smaller. Waterfront homes are most popular amongst British buyers followed by the US, Canada and Germany. (The Edge Markets)
Genting theme park on track to complete in 2019 despite lawsuit
Despite being locked in a legal battle worth over US$1 billion (RM4.17 billion) with Walt Disney Co and Twenty-First Century Fox, Genting Malaysia Bhd is confident that its theme park in Genting Highlands will be completed early next year. Genting Malaysia Bhd’s chairman and CEO Tan Sri Lim Kok Thay said the theme park “remains very much part of our plans” and is “only a small part” of expansion plans for the Resorts World Genting complex. Genting Malaysia had sued Disney and Fox for terminating an agreement for a Fox World theme park, which Disney allegedly sought to avoid associations with a gaming operation. Disney is in the midst of acquiring Fox for US$71.3 billion. (The Edge Markets)
Crescendo buys land in Johor for RM13m
Property developer Crescendo Corp Bhd is buying a piece of land in Johor Bahru for RM13 million to develop apartments for rent by Crescendo International College students. Crescendo’s wholly-owned unit Crescendo Education Sdn Bhd owns a 55% stake in Crescendo International College. The acquisition is expected to contribute and supplement the long-term profitability of the core business activities of the Group, which are in property development and building construction. (The Edge Markets)
LinkedIn to set up office in Malaysia
World’s largest professional network Linkedln will be setting up an office in Malaysia in the first quarter of 2019 to serve its four million members in the country and to scale up its business in Asia Pacific. Managing Director for Asia Pacific Olivier Legrand said Linkedln was also keen to tap into ASEAN’s vast population 600 million to create access to economic opportunities for its professionals. LinkedIn already has more than 28 million members in ASEAN, he said in a statement. “As the company continues to strengthen its offerings for small and medium business customers in Malaysia, our aim is to serve this growing segment in the region,” he added. (The Star Online)
CIMB takes PLUS to court over RFID system
CIMB Group Holdings Bhd, the parent company of Touch ‘N Go Sdn Bhd, is taking PLUS Malaysia Bhd to court a day after it filed for an arbitration to stop the highway concessionaire from launching its own toll collection system. PLUS said it is not backing down and “firmly believes that the recent launch of PLUS RFID targeted pilot will promote choices to the rakyat as it offers options and convenience for customers.” The PLUS RID system is an open payment platform, which also allows the use of Touch N’ Go’s e-wallet and prepaid payment, as well as debit and credit cards. (The Star Online)
