The Kuala Lumpur office market is in correction since the Ministry of Federal Territories tightened the approval for new such developments in the second quarter of the year in the face of an oversupply.
“New office buildings, except those being constructed for the owner’s use, will not get the green light from the ministry,” says Knight Frank Malaysia managing director Sarkunan Subramaniam when presenting the The Edge/Knight Frank Klang Valley Office Monitor 2Q2016.
KL office market undergoing a correction
Beverly Group to launch Lexa Residence in Wangsa Maju on Oct 2
Singapore-based Beverly Group Sdn Bhd — a subsidiary of Singapore-registered Qingdao Investments Pte Ltd — will be unveiling Lexa Residence in Wangsa Maju, Kuala Lumpur on Oct 2, 2016.
Beverly Group sales and marketing executive director Wendy Tang said the 2.69-acre Lexa Residence is the first phase development of Quartz WM — a 16.5-acre freehold mixed-use development — which carries a gross development value (GDV) of RM260 million.
S P Setia to launch affordable apartments in Semenyih
S P Setia Bhd will launch its D’Camellia affordable apartment at its sustainable Setia EcoHill township in Semenyih, Selangor on Saturday, Oct 1.
The property developer said on Thursday the launch will be held in its Setia EcoHill Welcome Centre.