SkyWorld Development Bhd (KL:SKYWLD) said on Tuesday that it has signed an agreement with the Penang state agencies to jointly develop the country's largest affordable housing project that is valued at RM13 billion.

SkyWorld signs agreement to develop Malaysia's largest affordable housing project in Penang

The year is looking good for Sime Darby Property Bhd (KL:SIME­PROP). After achieving record-high revenue and operating profit — since its demerger in 2017 — of RM3.4 billion and RM606.4 million respectively in FY2023, ended Dec 31, the group has chalked up its strongest nine-month performance to date for the period ended Sept 30 with a 35% increase in revenue to RM3.27 billion, while operating profit grew 51% to RM729.5 million.

On a transformation trajectory

City & Country met up with Datuk Jeffrey Ng, a well-liked veteran in the real estate industry, at Wisma Rehda in Petaling Jaya for a photoshoot and interview, as Ng is a recipient of the Outstanding Contribution to the Real Estate Industry award at The Edge Malaysia Property Excellence Awards 2024.

Building on a legacy of knowledge

When Tengku Datuk Ab Aziz Tengku Mahmud was appointed to lead the 40-acre mixed-use Merdeka 118 precinct development project in 2010, the new role came naturally to him following his years of experience in leading property divisions at various companies before that.

Taking on a nationally significant landmark project

Located at the intersection of Exhibition Street and La Trobe Street in Melbourne’s central business district, and with the Unesco World Heritage-listed Carlton Gardens at its doorstep, Sapphire by the Gardens’ glass skyscrapers and iconic skybridge have left an indelible impression on the city skyline since its completion in 2022.

Best of both worlds

Gamuda Land, the property arm of Gamuda Bhd (KL:GAMUDA), has been on the up and up since 2022, during which it posted record sales, revenue and earnings of RM4 billion, RM2.7 billion and RM342 million respectively for the financial year ended July 31, 2022. That same year, it rolled out its overseas expansion plans along with an annual property sales target of RM8 billion by 2028.

Taking a balanced approach

UOA Development Bhd (KL:­UOADEV) may have scaled down its project launches over the past few years, as reflected in its lower revenue of RM399.4 million in FY2023 ended Dec 31, 2023, compared with RM451.7 million in the previous financial year, but thanks to its prudent strategies and management, it recorded a higher net profit of RM279.6 million for the same period, compared to RM219.9 million in FY2022.

Buoyed by prudent strategies

Sime Darby Property Bhd (KL:SIMEPROP) is integrating the solar-powered landed homes at its Elmina Ridge development in City of Elmina, Shah Alam, with the battery energy storage system (BESS).

Sime Darby Property integrates solar-powered Elmina Ridge landed homes with battery energy storage system

Setia Awan Group has announced the signing of a memorandum of understanding (MOU) between Astrum Ampang and BilaBila Mart to integrate the convenience store chain into the Astrum Ampang development.

Setia Awan Group’s Astrum Ampang signs MOU with BilaBila Mart to offer convenience store for residents

LBS Bina Group Bhd (KL:LBS) announced the signing of a memorandum of understanding (MOU) with Invest Sabah Bhd, Sabah Forestry Development Authority (Safoda) and Midwest Green Sdn Bhd, in which LBS assumes the role as the master developer under the MOU, whose framework entails the development and construction of a green hydrogen production facility powered by solar and wind energy, as well as a future green industrial park on a potential site in Kota Marudu, Sabah, ranging from 15,000 to 30,000 acres.

LBS Bina signs MOU for 10GW green hydrogen plant in Sabah

(Dec 22): One of China’s leading developers is now on authorities’ radar for default risk. A major Hong Kong builder is asking lenders to extend loans. Another industry peer is selling an iconic but largely empty mall in Beijing.

China property flare-ups resurface as crisis enters fifth year

(Dec 22): Indonesia claimed victory after Apple Inc offered to increase its investment in the country to US$1 billion (RM4.50 billion) to get President Prabowo Subianto’s government to lift a ban on the sale of iPhone 16s. The win may be short-lived.

Apple’s US$1b investment may be fleeting win for Indonesia

KUALA LUMPUR (Dec 22): Prime Minister Datuk Seri Anwar Ibrahim stated that the Madani government has implemented strategic initiatives throughout 2024, to drive long-term prosperity for the people and the nation.

2024 economic highlights: Madani government drives long-term prosperity — Anwar

KUALA LUMPUR (Dec 22): The Malaysia International Trade and Exhibition Centre (Mitec), owned by Malaysia External Trade Development Corporation (Matrade), has announced the signing of a memorandum of understanding (MOU) between Qube Integrated Malaysia Sdn Bhd and the Asia CEO Community.

Qube Integrated inks MOU with Asia CEO Community, unveils Mitec card

BEIJING (Dec 22): China's Nio on Sunday said it would launch its new Firefly electric-vehicle (EV) brand in Europe early in the first half of 2025 (1H2025), betting that it would help the company overcome European Union (EU) tariffs.

China’s Nio says new Firefly EV to go on sale in Europe in 1H2025

(Dec 22): The European Central Bank (ECB) will go on lowering borrowing costs in 2025, according to Governing Council member Boris Vujcic.

ECB rate cuts will continue next year, Vujcic tells Croatian state broadcaster

(Dec 22): Cocoa’s rally has soared past all major commodities in 2024, and there’s little sign the tight supply and fragile trading landscape that prompted its near-vertical trajectory are in for a fast fix.

Cocoa caps 2024 as biggest commodity winner. It’s not over yet

PUTRAJAYA (Dec 22): The Early Schooling Aid (BAP) will extended to Form 6 students starting from the 2025/2026 schooling session, with each receiving RM150, said Education Minister Fadhlina Sidek.

Early schooling aid extended to Form 6 students

KUALA LUMPUR (Dec 22): Malaysia is intensifying efforts to deepen economic and cultural ties with Iran, identifying Gilan province as another key hub for collaboration.

Malaysia strengthens ties with Iran, eyes Gilan province as key collab hub

JAKARTA (Dec 22): Indonesian police have detained 18 personnel suspected of extorting Malaysian nationals who attended the Djakarta Warehouse Project (DWP) concert in Kemayoran, North Jakarta.

18 cops detained for alleged extortion of Malaysian fans at Djakarta Warehouse Project concert

Lion Group’s property division, Lion Group Property, is looking to expand its industrial park portfolio, says the conglomerate’s executive chairman Tan Sri William Cheng.

Moving further into industrial parks

KUALA LUMPUR (Dec 22): The Health Ministry (MOH) does not take lightly the resignation of more than 6,000 doctors over the past five years.

MOH does not take lightly resignation of over 6,000 doctors over past five years — Dzulkefly

Among all precious gems, diamonds are one of the most sought after and prominent —&nbsp;for good reason. It is their rarity, durability and beauty that inspire&nbsp;the managing director of jewellery company Tomei, Datuk Ng Yih Pyng, to keep them as the focus of his star label, Le Lumiere. With over 30 years of experience under his belt, he has witnessed his fair share of industry evolutions. As technology progresses and diamond reserves begin to run dry, a new competitor — lab-grown stones — has entered the market. What does this mean for the stability of the natural gemstone trade, and what can consumers expect to see in the coming year? Ng gives us his thoughts.

Light fantastic

KUALA LUMPUR (Dec 22): Malaysia is intensifying efforts to deepen economic and cultural ties with Iran, identifying Gilan province as another key hub for collaboration.

KUALA LUMPUR (Dec 21): Prime Minister Datuk Seri Anwar Ibrahim held a meeting on Saturday with local and foreign media practitioners to convey the latest developments about the country's direction related to government policies, as well as various current and future issues in Malaysia.&nbsp;

PM conveys country’s development, direction, policies, current and future issues to media practitioners

JAKARTA (Dec 22): Indonesian police have detained 18 personnel suspected of extorting Malaysian nationals who attended the Djakarta Warehouse Project (DWP) concert in Kemayoran, North Jakarta.

KUALA LUMPUR (Dec 22): Prime Minister Datuk Seri Anwar Ibrahim stated that the Madani&nbsp;government has implemented strategic initiatives throughout 2024, to drive long-term prosperity for the people and the nation.

(Dec 22):&nbsp;One of China’s leading developers is now on authorities’ radar for default risk. A major Hong Kong builder is asking lenders to extend loans. Another industry peer is selling an iconic but largely empty mall in Beijing.

KUCHING (Dec 21): A supply interruption caused by generator trip at the Bakun Hydroelectric Plant (HEP) on Saturday afternoon has been fully restored to affected consumers in certain parts of Kuching, Sibu, Bintulu and Miri.

Sarawak Energy: Partial power outage fully restored

BEIJING (Dec 22): China's Nio on Sunday said it would launch its new Firefly electric-vehicle (EV) brand in Europe early in the first half of 2025 (1H2025), betting that it would help the company overcome European Union (EU) tariffs.

(Dec 21):&nbsp;The Biden administration is mulling exempting Mexico from tariffs on imported solar equipment, a last-minute change that would primarily benefit Maxeon Solar Technologies Ltd.&nbsp;

Biden mulls tariff break for solar modules from Mexico

(Dec 22): Cocoa’s rally has soared past all major commodities in 2024, and there’s little sign the tight supply and fragile trading landscape that prompted its near-vertical trajectory are in for a fast fix.

(Dec 22):&nbsp;Indonesia claimed victory after Apple Inc offered to increase its investment in the country to US$1 billion (RM4.50 billion) to get President Prabowo Subianto’s government to lift a ban on the sale of iPhone 16s. The win may be short-lived.

ANKARA (Dec 22): Türkiye will do "whatever it takes" to ensure its security if the new Syrian administration cannot address Ankara's concerns about US-allied Kurdish groups it views as terrorist groups, Foreign Minister Hakan Fidan said on Saturday (Dec 21).

Türkiye will do 'whatever it takes' if Syria government cannot address Kurd militia issue, minister says

(Dec 22):&nbsp;President-elect Donald Trump selected billionaire Tilman Fertitta as his ambassador to Italy, enlisting a prominent businessman and one-time reality television star for a prime diplomatic post.

Trump taps billionaire restaurateur Fertitta as Italy envoy

(Dec 21):&nbsp;A Starbucks Corp&nbsp;strike of unionised baristas has spread to three more cities in the US, disrupting service during the final days of the crucial holiday season.

Starbucks baristas from three more US cities to join strike

BENGALURU (Dec 21): Stellantis&nbsp;has reversed its decision to lay off about 1,100 employees at an Ohio Jeep plant, less than three weeks after the abrupt resignation of chief executive Carlos Tavares, the Franco-Italian automaker said late on Saturday.

Stellantis reverses Ohio layoffs weeks after CEO's abrupt departure

PUTRAJAYA (Dec 22): The&nbsp;Early Schooling Aid (BAP) will extended to Form 6 students starting from the 2025/2026 schooling session, with each receiving RM150, said Education Minister Fadhlina Sidek.

(Dec 21):&nbsp;Lara Trump, daughter-in-law of President-elect Donald Trump, said on Saturday that&nbsp; she has removed her name from consideration to replace outgoing US&nbsp;Senator Marco Rubio.

Lara Trump withdraws from consideration to replace Rubio in US Senate

KUALA LUMPUR (Dec 22): The Malaysia International Trade and Exhibition Centre (Mitec), owned by Malaysia External Trade Development Corporation (Matrade), has announced the signing of a memorandum of understanding (MOU) between Qube Integrated Malaysia Sdn Bhd and the Asia CEO Community.

Chai Yee Hoong

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