Pelaburan Hartanah Bhd aims to add prime commercial and high value properties

Pelaburan Hartanah Berhad (PHB), manager of Amanah Hartanah Bumiputera (AHB), plans to acquire more prime commercial properties and develop high-value commercial projects nationwide. There are additional 1.5 billion being launched. AHB units were from revenue and development of five new assets namely Menara 1 Sentrum and NU Sentral Shopping Centre at Kuala Lumpur Sentral, The Shore Shopping Gallery Melaka, One Precint Penang and Block B Gleneagles Kuala Lumpur.


(iProperty, 08/04/2016)

MQREIT does not expect significant impact from office space glut

MRCB-Quill Real Estate Investment Trust (MQREIT) does not expect to be significantly affected by the current office space oversupply as only 7% of its NLA will be up for renewal in July, while the remaining portion have locked in periods as per rental agreements. As at December last year, the occupancy rates were 97.5% of the total NLA. 80% is office space and the remaining 20% is retail space. MQREIT’s total assets amount to RM1.57 billion, which will rise to RM2.2 billion upon inclusion of Menara Shell, which is still in process of being acquired.

(The edge property, 13/04/2016)

KLCCP Stapled Group rental income resilient

KLCC Property Holdings Bhd (KLCCP) Stapled Group has not been impacted by any cut in office space requirements by its main tenant, PETRONAS. KLCCP consists of KLCC Property Holdings Bhd and KLCC Real Estate Investment Trust (KLCC Reit). The group derives its revenue mainly from office segment that contributes 44% of its revenue. The group will see an addition of 45,000 sf of office space in Menara Dayabumi this year that is expected to boost its revenue by 1-2%. The new office will be completed by mid-year and the group has secured tenants.

(The sun, 14/04/2016)