KUALA LUMPUR (Jan 26): Known for its successful Desa ParkCity township, ParkCity Group is injecting its formula and values into its upcoming township, ParkCity Botanika, in Cyberjaya.

Group CEO Datuk Joseph Lau shares the company’s plan for the new township. Spanning 259 acres, ParkCity Botanika has an estimated gross development value (GDV) of RM7.3 billion and will feature 7,400 homes, including landed properties, condominiums, serviced apartments and affordable housing, as well as commercial units, open spaces and essential township amenities. Overall, the township is expected to take 15 years to complete. The developer is targeting to launch its first residential development in the township, called Adiva, at end-1Q. The three-storey landed development is an enhanced iteration of Desa ParkCity’s Adiva, with an emphasis on space efficiency.

We report on the groundbreaking ceremony of the £1.2 billion redevelopment of 75 London Wall by Gamuda Bhd (KL:GAMUDA) and its London-based joint-venture partner, real estate investor Castleforge. The project will enhance the building’s capacity by 40%, retain 89% of its existing structure and aims to establish a new benchmark for sustainable office spaces in London’s prime real estate market.

In the same issue, we present the Rahim & Co Research Property Market Review 2024/2025 report. The Malaysian property sector has shown strong recovery in the first nine months of 2024 (9M2024). Some 311,211 transactions valued at RM163 billion were recorded in 9M2024, marking a 6.2% increase in volume and a 14.4% rise in value compared to 9M2023. Despite the positive momentum, market sentiment remains mixed, with concern over living costs, purchasing power and global economic uncertainties.

We also take a closer look at Kuala Lumpur and Selangor’s office market in the third quarter last year in The Edge Malaysia | Knight Frank Kuala Lumpur and Selangor Office Monitor 3Q2025. Knight Frank Malaysia executive director of office strategy and solutions Teh Young Khean sees the KL fringe area —which includes Mid Valley, Bangsar South and KL Eco City areas — experiencing a surge in demand as tenants seek areas with established amenities and direct access to shopping malls and public transport.

In this month's MySpace column, Master Builders Association Malaysia president Oliver Wee says that it is crucial for contractors to digitalise their operations to remain relevant in a construction industry that faces labour shortage and foreign competitions.

From our sister publication, The Edge Singapore, it was reported that the Commonwealth Towers condominium set a new record for private non-landed properties in Singapore, fetching S$2,460 (RM8,108) psf on Dec 27. This was achieved with the sale of a 904 sq ft, three-bedroom unit for S$2.22 million, surpassing the previous high of S$2,402 psf, which was set three months earlier.

Catch up with the latest property news in the Jan 27 issue of City & Country.

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