Malaysia Property | Lush Dream Home

Posted on 21 Oct 2009 | Comments Off

TA Global Bhd, set to become Malaysia’s fifth-biggest listed property group, plans to double the number of hotels it owns in five years, adding to a portfolio that includes the Radisson Plaza in Sydney and the Westin Melbourne.

Ms Tiah: ‘I want to buy hotels in gateway cities like London’

It wants to build at least two hotels in Kuala Lumpur and make acquisitions in overseas markets from the UK to Canada, said Alicia Tiah, managing director and co-founder of its parent company, the Malaysian brokerage TA Enterprise Bhd.

‘Definitely we want more. We want to develop our own chain. I want to buy hotels in gateway cities like London,’ she said in an interview in Kuala Lumpur yesterday. ‘But some are not cheap, some too big, some too small; it takes time to get the right fit. I want people to show me what they have.’

TA Enterprise, whose shares have more than doubled this year, folded all its property assets into TA Global, which will be listed on the Kuala Lumpur stock exchange on Nov 23 to tap a resurgent stock market. Continue reading →

M’sia property market to show signs of recovery: official

Posted on 20 Oct 2009 | Comments Off

The Malaysian property market is expected to continue to show positive signs of recovery towards the year-end, likely to be driven by continuous interest in residential properties, Housing and Local Government Minister Kong Cho Ha said yesterday.

Buyer behaviour: Analysts were expecting a more robust revival in the region’s property market towards the end of the year, says Mr Kong

He said that the property sector saw a strong comeback in the third quarter of the year, with renewed buying interest in residential property on anticipation of a recovery in the economy.

This was evident although the commercial property market, including office and retail space, remained quite soft with easing demand bringing down rental and occupancy rates, he said.

Prices of houses are expected to see further upside, driven by huge liquidity in the economy as well as a further rebound in residential rent, Mr Kong said in his keynote address at the National Property and Housing Summit 2009 here yesterday.

He said that analysts were expecting a more robust revival in the region’s property market towards the end of the year, in tandem with further pick up in the global economy. Continue reading →