KUALA LUMPUR (June 15): In the June 16 cover story of City & Country, KIP Real Estate Investment Trust (KL:KIPREIT) CEO Valerie Ong Pui Shan outlines the trust’s ambitious roadmap toward RM2 billion in assets under management (AUM) by 2027.
The trust already has more than RM1.5 billion in AUM, with this expected to reach RM1.7 billion with three more industrial properties and two retail properties in the pipeline. With 14 assets across Malaysia at the moment, the REIT continues to prioritise yield-accretive acquisitions, operational resilience and sustainability.
Mah Sing Group has unveiled M Legasi, its largest township in the central region. The 500-acre freehold development in Semenyih is expected to be completed over eight to 10 years. M Legasi has a gross development value of RM3.3 billion and comprises three precincts of residential components, a 19-acre commercial component called Legasi Walk and 50 acres of green spaces.
Meanwhile, we take a look at strata malls, which face declining relevance amid operational inefficiencies and fragmented ownership structures. Experts noted that without bold legal reforms and improved governance, these malls risk becoming obsolete.
In this latest series of Strata Sense, we explore what it takes to find the right balance between ensuring the quality of maintenance and managing costs.
Next up, we dive into the implications and insights of the court ruling involving Summit USJ mall. The outcome of the Federal Court’s decision is that the refurbishment charges are due and payable by the defaulting share-unit owners, who had benefitted from the refurbishment exercise carried out at the mall.
Across the causeway, Singapore has agreed to a land swap with Tunku Ismail, the Regent of Johor. The swap involves a 13ha plot located at Tyersall Park, next to the Singapore Botanic Gardens.
Read all about it in the June 16 issue of The Edge Malaysia weekly.
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