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The Star
3 days ago
- Business
- The Star
Anwar, Singapore leaders discuss key bilateral issues
SINGAPORE, May 31 -- Prime Minister Datuk Seri Anwar Ibrahim delivers his special address in conjunction with the 22nd Shangri-La Dialogue 2025 held at a hotel today. --fotoBERNAMA (2025) COPY RIGHT RESERVED SINGAPORE: Datuk Seri Anwar Ibrahim discussed key bilateral issues with Singaporean leaders, including border and maritime affairs, renewable energy, and regional initiatives such as the Asean power grid, as he wrapped up his one-day working visit, here. The Prime Minister paid a courtesy call on Singapore President Tharman Shanmugaratnam at The Istana and also held a bilateral meeting with his counterpart, Prime Minister Lawrence Wong, before flying home. "We also reviewed ongoing projects, such as the Johor Bahru-Singapore Rapid Transit System (RTS) Link, set for completion by late 2026, and the Johor-Singapore Special Economic Zone (JS-SEZ), which is expected to boost regional growth,' he posted on Facebook. Anwar is optimistic that the visit will strengthen cooperation between Malaysia and Singapore for mutual benefit. Meanwhile, Wong, in a Facebook post, said he looked forward to continuing the two countries' close partnerships for the benefit of the people. During the visit, Anwar delivered a special address at the 22nd Shangri-La Dialogue. He also received courtesy calls from United States Secretary of Defence Pete Hegseth and Boeing Global President Dr Brendan Nelson.- Bernama
Time of India
5 days ago
- Business
- Time of India
Gurgaon's Southern Peripheral Road: A booming real estate hub with Rs 100,000 crore projects
DLF, India's premier developer, has introduced two upscale residential developments that have experienced value appreciation post-launch. (AI image) Southern Peripheral Road (SPR) in Gurgaon has become the region's most dynamic micro-market, with developments valued at Rs 50,000 crore initiated since 2022, whilst an additional Rs 50,000 crore worth of projects are scheduled for the next three years. Property values along SPR have shown substantial growth in five years, increasing from Rs 7,690 per sq ft in 2020 to Rs 18,000 per sq ft by mid-2024. DLF, India's premier developer, has introduced two upscale residential developments that have experienced value appreciation post-launch, with the subsequent phase expected this quarter. "Gurugram is growing fast, with many new infrastructure projects. One of the fastest-growing areas is SPR. When people think about buying a home, location plays the crucial role in the decision-making," said Aakash Ohri, Joint MD and Chief Business Officer, DLF Homes according to an ET report. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Free P2,000 GCash eGift UnionBank Credit Card Apply Now Undo The value increase is primarily due to enhanced infrastructure, including expanded roads and new flyovers, improving connections to Golf Course Road, Sohna Road, and NH-48. "Demand for properties has surged in and around SPR, particularly since the second half of 2021. The region has seen sustained sales momentum, with transaction values rising sharply, underscoring strong and consistent demand," said Pradeep Aggarwal, founder and chairman, Signature Global. Signature Global, owning a 93-acre plot in the vicinity, has launched over 2.1 million sq ft of development and plans an additional 14.9 million sq ft. The 16-km SPR corridor, connecting Gurgaon-Faridabad Road to NH-48, has considerably enhanced accessibility and property values. At a projected sales rate of Rs 18,000 per sq ft, Signature Global's forthcoming projects in the area are anticipated to achieve total sales of Rs 27,000 crore. Trump Residences, recently announced, is situated within the SPR zone. "The Gurgaon market continues to attract strong investor interest, and good projects have delivered solid returns in the recent past," said Pankaj Bansal, co-founder, Smartworld Developers. A development launched in 2023 in Sector 76 along SPR at Rs 10,500 per sq ft experienced significant appreciation of nearly 64%, with current rates around Rs 17,250 per sq ft. "The real estate market in NCR, particularly Gurugram, is set to reach new highs driven by infrastructure upgrades, rising housing demand, and a vibrant commercial ecosystem. Completion of key projects like the Dwarka Expressway, SPR, and the Rapid Transit System will enhance connectivity and fuel demand from both homebuyers and investors," said Navdeep Sardana, founder, Whiteland Corporation.
Time of India
26-05-2025
- Business
- Time of India
Southern Peripheral Road in Gurgaon emerges as the region's most active micro-market for real estate projects
Gurgaon's Southern Peripheral Road is a real estate hotspot. Projects worth Rs 50,000 crore launched since 2022. Another Rs 50,000 crore are in the pipeline. Property prices have increased sharply. Improved infrastructure drives demand. Developers are launching new projects. The area attracts strong investor interest. Connectivity enhancements will further fuel demand. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads The Southern Peripheral Road (SPR) in Gurgaon has emerged as the region's most active micro-market with projects worth Rs 50,000 crore launched since 2022 and another Rs 50,000 crore in the pipeline over the next three prices along SPR have recorded the sharpest increase in five years, rising from Rs 7,690 per sq ft in 2020 to Rs 18,000 per sq ft by largest developer, DLF , has launched two luxury residential projects that have seen price appreciation post launch, and the next phase is expected to be rolled out this quarter.'Gurugram is growing fast, with many new infrastructure projects. One of the fastest-growing areas is SPR. When people think about buying a home, location plays the crucial role in the decision-making,' said Aakash Ohri, Joint MD and Chief Business Officer, DLF price surge is largely attributed to improved infrastructure, including road widening and the construction of flyovers, which have enhanced connectivity to key areas such as Golf Course Road, Sohna Road, and NH-48.'Demand for properties has surged in and around SPR, particularly since the second half of 2021. The region has seen sustained sales momentum, with transaction values rising sharply, underscoring strong and consistent demand,' said Pradeep Aggarwal, founder and chairman, Signature Global, which holds a 93-acre land parcel in the area, has already launched over 2.1 million sq ft of development and is planning an additional 14.9 million sq a 16-km corridor linking Gurgaon-Faridabad Road to NH-48, has significantly boosted both accessibility and real estate an estimated sales rate of Rs 18,000 per sq ft, Signature Global's planned projects in the region are expected to generate total sales worth Rs 27,000 recently announced Trump Residences is also located in the SPR belt.'The Gurgaon market continues to attract strong investor interest, and good projects have delivered solid returns in the recent past,' said Pankaj Bansal, co-founder, Smartworld Developers.A project launched in 2023 in Sector 76 along SPR at Rs 10,500 per sq ft saw a sharp appreciation of nearly 64%, with current prices hovering around Rs 17,250 per sq ft.'The real estate market in NCR, particularly Gurugram, is set to reach new highs driven by infrastructure upgrades, rising housing demand, and a vibrant commercial ecosystem. Completion of key projects like the Dwarka Expressway, SPR, and the Rapid Transit System will enhance connectivity and fuel demand from both homebuyers and investors,' said Navdeep Sardana, founder, Whiteland Corporation.
New Straits Times
07-05-2025
- Business
- New Straits Times
Sunway Property and Majestic Gen break ground on RM4bil Johor project
KUALA LUMPUR: Sunway Property and Majestic Gen have officially broken ground on a landmark RM4 billion mixed-use development in Yahya Awal, Johor Bahru. The groundbreaking ceremony was officiated by Sunway Property managing director Chung Soo Kiong, chief executive officer Gerard Soosay, Majestic Gen executive director Ta Wee Dher, and director Kee Ju Hun. Spanning 15.5 acres, the joint venture project will feature a combination of serviced apartments and retail spaces. Its first phase, set for launch in the third quarter of 2025, will introduce over 1,000 Small Office/Home Office (SOHO) units to the market. Strategically located near the Customs, Immigration and Quarantine (CIQ) Complex and the upcoming Rapid Transit System (RTS) Link, the development is poised to attract both local buyers and Singaporean investors seeking high-potential urban assets. In a statement, Gerard said the development reflects Johor Bahru's emergence as a key economic centre and showcases a new standard for integrated urban living. "We're proud to play a role in transforming the city landscape, in line with Sunway Property's commitment to long-term value," he said. The Yahya Awal project is part of Sunway Property's broader strategy to strengthen its presence in Johor Bahru's city centre and key growth corridors. This follows its recent RM2.6 billion partnership with MRT Corp for the Bukit Chagar Transit-Oriented Development (TOD). "With these two projects, we have anchored our developments near the checkpoints in Johor Bahru and by the Second Link via the 2,000-acre Sunway City Iskandar Puteri, contributing to Johor Bahru's transformation into an international gateway city. "This reinforces our confidence in Johor's long-term growth, supplementing the JohorSingapore Special Economic Zone (JS-SEZ) initiative," Gerard added Meanwhile, Ta described the partnership as a significant milestone for the company. This marks the company's first collaboration with Sunway Property and one of the most ambitious projects in its portfolio, he said.
The Star
05-05-2025
- Business
- The Star
Office market stable amid hybrid work, ESG trends
PETALING JAYA: The Malaysian office market is expected to remain stable this year, underpinned by demand for newer high-grade offices featuring sustainable designs and up-to-date specifications. Savills Malaysia Sdn Bhd group managing director Datuk Paul Khong said older Grade B and Grade C offices would struggle with major tenant retention issues and would continue to rely on lower rentals to stay competitive. 'Overall market stability is underpinned by moderate incoming supply, a steady performance in the prime market rents and a gradual uplift in occupancy,' he told StarBiz. On a micro level, Khong said shifts in workplace dynamics and the growing focus on corporate social responsibility have pushed organisations to right-size and consolidate into high-quality spaces. 'Flexible office space is gaining traction as evolving work habits reshape the market. 'Post-pandemic, hybrid work, flexible leases and modular layouts drive demand and create more opportunities for co-working operators with landlords.' Looking ahead, Khong expects demand for new offices to remain strong, supported by tenants' growing appetite for modern high-quality buildings with ESG (environmental, social and governance) features. 'The ageing office segment will need major refurbishments to continue staying relevant,' he said. Meanwhile, Knight Frank Malaysia believes the outlook for the next 12 months suggests continued stability in Malaysia's office sector, with a tenant-favourable market environment expected to persist as businesses reassess long-term space needs and embrace more flexible, future-ready office strategies. 'With an annual change of 2.6% and a quarterly increase of 0.8%, Kuala Lumpur's (KL) office market is showing signs of steady, measured recovery.' However, Knight Frank noted that high supply levels and evolving workplace expectations may continue to weigh on rental growth. 'Occupiers are likely to prioritise flight-to-quality strategies, while landlords may focus on improving building specifications and sustainability features to remain competitive in an increasingly discerning market.' Olive Tree Property Consultants founder and chief executive officer Samuel Tan remains cautiously optimistic on the outlook for Johor's office sector in 2025. 'Strategic initiatives like the Johor-Singapore Special Economic Zone (JS-SEZ), ongoing infrastructure projects such as the Rapid Transit System, elevated automated rapid transit and the influx of data centres are all key catalysts driving the demand for office spaces.' Moving forward, he said multinational corporations (MNCs) and service providers are expected to set up regional or representative offices in Johor Baru to ride on the promising growth within the state. 'Some Singapore-based companies and startups, capitalising on lower operation costs, could be keen to set up offices in the JS-SEZ.' Meanwhile, Olive Tree Property Consultants director Tan Wee Tiam said the escalating trade war triggered by the US' reciprocal tariff is another key consideration for companies intending to set up or expand their office space within the JS-SEZ. 'The risk is compounded by the extremely fluid trade policy adopted unilaterally by the United States. 'Investors do not like uncertainties. 'As a result, while many companies may be keen to use the JS-SEZ as a platform to ride on the growth, many would adopt a wait-and-see stance, at least in the short term, for more clarity to unfold.' Wee Tiam added that tenants, especially MNCs, are increasingly looking for high-quality office spaces that adhere to ESG standards. 'In general, office tenants, especially MNCs, are increasingly seeking offices with modern amenities, energy efficiency and sustainable features.' Meanwhile, Tan said the adoption of hybrid work models has led to increased demand for flexible workspace solutions. 'Companies are looking for adaptable office environments that can accommodate fluctuating occupancy levels and foster collaboration. 'Landlords of older buildings would need to consider refurbishments or repositioning strategies to attract and retain tenants.' On the sector's performance for the first quarter of this year (1Q25), Knight Frank said KL's prime office market continued to improve, as occupier activity strengthened in select sectors despite headline vacancy rates remaining elevated at 24.6%. 'The city's rental levels held steady at RM6.01 per sq ft per month, with no quarter-on-quarter change – underscoring market resilience in the face of ongoing global and regional uncertainties. 'Notably, improving occupancy has been observed, bolstered by expansions from technology firms and MNCs aiming to reinforce their regional footprint in Malaysia.' Khong said the general office sector in Greater KL moved positively during 1Q25, with good improvements in both net absorption rates and office rentals. 'This was well driven, mainly by demand for high-grade office spaces due to improved investor sentiments. 'Greater KL continued to record a net absorption of 0.46 million sq ft in 1Q25, a strong performance compared to an annual absorption of 1.2 million sq ft for 2024.' Khong highlighted that the key drivers during the quarter were 'flight-to-quality' in tenant movements, right-sizing efforts and a growing emphasis on ESG trends.
