KUALA LUMPUR (July 14): In this issue, boutique developer SMD Group of Companies unveils its first commercial development in Kundang, Selangor. Dubbed Serai Avenue, the 104-shoplot development is located in the heart of Bandar Baru Kundang and poised to become the commercial heartbeat of the town.
“A thriving commercial hub plays an important role in reviving an old town [like Kundang]. It can add the energy that was maybe missing before. Creating a new commercial hub to bring in new businesses not only serves the local community better, it will also increase local economic activity and bring vibrancy to the place,” said SMD’s founder and CEO Datuk Jeffery Tan.
Serai Avenue offers 104 two- and three-storey shoplots with a land size of 20ft by 70ft and built-ups starting from 2,656 sq ft. The selling price starts at RM1.368 million. It is adjacent to the first Econsave hypermarket in Kundang, which is expected to open its doors to the public in the first half of 2025.
The same issue also features a snippet of the upcoming The Edge Malaysia and YTL Cement’s Sustainability Construction: The Next Level Symposium with the theme “Sustainable Construction Tomorrow: Milestones & Opportunities”. To be held on July 31, the symposium will delve into the latest advancements, trends and innovations shaping the future of sustainable and responsible construction, while identifying industry challenges and opportunities. There is also a study tour to Merdeka 118 as an exemplary project for sustainable constructions.
We have The Edge Malaysia | Rahim & Co Kota Kinabalu Housing Property Monitor 1Q2024, with Sabah’s residential property market seen continuing an upward trend in the first quarter of 2024, according to Rahim & Co regional manager (Sabah) Max Sylver Sintia. However, a cautious outlook is still needed due to the increase in prices of building construction material, labour force shortage and the outlook on homebuyers’ affordability.
There is also a report about manufacturing opportunities for Malaysia. In JLL’s “Beyond China: Asia’s next manufacturing powerhouse” report, the firm revealed that international companies have begun exploring the relocation of manufacturing outside of China to hedge against supply chain disruption, with Malaysia’s manufacturing sector appealing to global investors, particularly in the rubber, machinery and equipment (M&E), food, chemical, transport, and electronics and electrical (E&E) segments.
Meanwhile, British developer Native Land, via the backing of an international consortium that has a Malaysian hand in it — Amcorp Properties Bhd — together with Singaporean entities Temasek Holdings and Hotel Properties Ltd, are unveiling Bankside Yards, a mixed-use development in London. The development comprises 700 homes, Grade-A offices, 50,000 sq ft of retail space and leisure amenities. It will also house the 33-storey Mandarin Oriental Hotel, which is scheduled to open in 2028.
Over in Singapore, Kheng Leong Co launched one of two new projects in the Core Central Region (CCR) in 2Q2024. Dubbed 32 Gilstead, three units of the low-rise luxury development have been sold at prices ranging from S$14.4 million (RM50.2 million) to S$14.54 million (S$3,455 psf).
Read all this in the July 15 issue of The Edge Malaysia weekly.
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