A recap of the big events of the year
Compiled by Joseph Wong
The year 2023 has been a rollercoaster, marked by numerous highs and lows that spanned a diverse spectrum of news in the real estate industry. Let's take a look at the standout moments and newsmakers of the year.
- Omni-channel platform StarProperty launches its 2023 StarProperty Real Estate Developer Awards for the eighth consecutive year.
- MGB Bhd, a subsidiary of LBS Bina Group Bhd, entered into a memorandum of understanding with SANY Alameriah For Construction Co Ltd to develop 10,000 properties in Saudi Arabia with a total project value of about RM2.9bil under the Government Sakani Programme which will be completed in five years.
- Mah Sing Group Bhd makes its first land deal in 2023 with the purchase of an eight-acre parcel of land in Puchong, Selangor for over RM85mil, which it plans to build a transit environment district (TED) development. The project has an estimated GDV of RM726mil.
- NAZA TTDI Sdn Bhd kicks off its 50th-anniversary celebration this year along with the launch of its Harmony of Living Campaign.
- Fresh from the one-day state visit by Prime Minister Datuk Seri Anwar Ibrahim to Singapore, measures on alleviating congestion on the Johor Causeway, the primary arterial way that links Iskandar Malaysia and the city-state, were abuzz. As reported in Singaporean media, the Menteri Besar of Johor made a plea to the federal government for a solution to ease the traffic congestion on the causeway that manages up to 200,000 daily commuters.
- Housing affordability, the overhang and the buy-or-rent dilemma found themselves at the forefront of the issues plaguing the Malaysian property market, each issue interlinked with the other, resulting in the unaffordability of real estate. Real estate consultancy Rahim and Co International Sdn Bhd highlighted the issue of unaffordability in Malaysia’s recovering property market during a press conference on its Property Market Review 2022/2023 findings.
- KL Wellness City unveiled the first-of-its-kind integrated healthcare-based sustainable township which has a gross development value (GDV) of RM11bil.
- Master community developer Sunway Property launched its latest signature product Sunway Flora Residences, the first GreenRE Platinum residential development, to Bukit Jalil.
- Property developer MCT Bhd acquired its first 2023 land deal with HPC Development Sdn Bhd. For RM58mil, it bought a 1.57-acre freehold residential land at Seputeh, Kuala Lumpur. The purchase is MCT’s first venture into Kuala Lumpur, in line with its strategy to expand its development footprint in the Klang Valley.
- MCT Bhd made its second land acquisition for 2023 with the purchase of three parcels of freehold land totalling 3.9 acres in Taman Desa, Kuala Lumpur for RM64.6mil.
- The International Real Estate Federation Malaysian Chapter's (FIABCI-Malaysia) star-studded gala dinner saw a total of 14 property developers, along with two distinguished recipients, receiving their respective trophies during the event that was graced by Yang di-Pertua Negeri of Melaka, Tun Mohd Ali Rustam. Matrix Concepts Holdings Bhd group managing director Ho Kong Soon was awarded the Property CEO while See Hoy Chan Holdings Group executive director and chief executive officer Tan Sri Teo Chiang Kok took the Property Man award.
- Property developer LBS Bina Group Bhd has entered into a Memorandum of Understanding with engineering machinery manufacturing industry leader SANY Group Co Ltd for collaborative projects worth an estimated RM11bil. In addition to the Jan 13 agreement, the two companies are also to jointly explore, research and plan for an intelligent deep-water port in Malacca and build a One-Stop Industrial 4.0 Hub Port in the Malacca Waterfront Economic Zone (M-WEZ) comprising free trade zones and oil and liquefied natural gas industrial park and other port-related businesses using Sany Group’s expertise, that will amount to a total investment value of approximately RM8bil.
- NCT Group of Companies marked a significant milestone with the ground-breaking ceremony of Malaysia’s first certified managed industrial park (MIP), NCT Smart Industrial Park (NSIP), which has a GDV of RM8bil. Officiated by Selangor Menteri Besar Datuk Seri Amirudin Shari and accompanied by State Selangor Speaker Ng Suee Lim, the project is set to spur the State’s industrial property sector and contribute to the economic growth of Selangor.
- StarProperty launched its Virtual Showcase 2023, offering investors and first-time homebuyers 46 residential projects for their consideration. The showcase is organised in conjunction with the StarProperty Awards 2023, which took place later in the year. Through the platform, visitors will be able to access the showcase at their own convenience, from the comfort of their own home.
- SkyWorld Development Bhd received approval from the Securities Commission Malaysia to list on the Main Market of Bursa Malaysia Securities Bhd.
- The StarProperty Real Estate Developer Awards 2023 celebrated another year of star performance in the real estate industry, with some 30 developers honoured for their stellar developments. A total of 38 categories including six new categories broke new grounds of innovation, creativity and business excellence, and attracted more than 90 project entries.
- Juwai IQI, Asia's largest proptech company by reach, has brought the IQI agency network to Japan with the launch of IQI Japan in Tokyo, Osaka and Hokkaido. The new offices have been formed in partnership with local real estate agency SVA Inc.
- As the countdown to the Malaysia Developer Awards (MDA) 2023 starts to tick, organisers FIABCI-Malaysia and StarMedia Group (SMG) have added a new trophy to the prestigious event. The new Joint Development Awards is for developers who have joined forces and expertise to leverage on each other’s capabilities to develop at least one property.
- Developer SkyWorld Development was named World Gold Winner in the affordable housing category for its SkyAwani 2 Residences at the FIABCI World Prix d'Excellence Awards 2023.
- Jun 20
- Mah Sing Group Bhd acquired 500 acres of freehold land in Semenyih from SP Setia Bhd, via its subsidiary Petaling Garden Sdn Bhd, for a cash consideration of RM392mil.
- UEM Sunrise Bhd has unveiled its first transit-oriented development (TOD), The Connaught One, in Taman Connaught offering affordable units to first-time homebuyers and professionals working near the city centre.
- Radium Development Bhd announced the launch of its highly anticipated projects for 2023, showcasing its dedication to constructing urban residences and affordable homes that cater to various market segments. With the recent opening of the sales gallery of its latest project, it unveiled Desa East Residences, a residential project that has a GDV of RM1bil. It comprises two components - Vista Adesa Residensi Wilayah and Radium Adesa Residence.
- Property developer MCT Bhd has rebranded as Avaland Bhd, marking a crucial milestone in the company’s evolution, said chairman Tan Sri Abi Musa Asa’ari Mohamed Nor.
- Property developer veteran Datuk Seri Koe Peng Kang has been appointed as the new president of the World Council of Developers and Investors of FIABCI, the International Real Estate Federation for a one-year term.
- Retail asset management group Suria KLCC Sdn Bhd unveiled its visionary plans to redevelop Alamanda Shopping Centre, reaffirming its steadfast commitment to providing the ultimate elevated experience in the heart of Putrajaya.
- Tan Kian Aun was installed as the new Malaysian Institute of Estate Agents (MIEA) president at its 15th National Real Estate Awards (NREA) gala dinner on July 29.
- The Malaysia Developer Awards 2023 marked a significant celebration, honouring the accomplishments of distinguished property developers. The award ceremony saw nearly 500 winners and guests gathering to celebrate the achievements of prominent property developers.
- SP Setia recently expanded its Australian development by acquiring a 14,790 sq ft freehold land site in New South Wales, Sydney. Located at 20 Atchison Street, St Leonards, the new venture is SP Setia’s debut into the state of Sydney, presenting an optimal entry cost point of AUD73.3mil (RM220mil) into the local property market.
- UEM Sunrise Bhd launched Kiara Bay’s second phase, Residensi Zig in unison with Malaysia Day.
- Property developer Land & General Bhd is planning to launch two projects with a combined GDV of RM1.09bil next quarter. They are Livista, a 700-unit serviced residence complex in Bandar Sri Damansara, and The WYN Residences in Puchong, which will house 1,546 units.
- The StarProperty’s comprehensive Budget 2024 special pullout highlighted the far-reaching implications for all sectors of the economy pertaining to what is allocated toward the real estate industry. The effort was to educate the public as well as give a stronger voice to the stakeholders.
- The official launch of the second phase of Melbourne Square called BLVD in Southbank of Melbourne, Australia marked the beginning of a series of forthcoming projects arising from the collaboration of OSK Property and Employees Provident Fund (EPF).
- Budget 2024 was announced.
- NCT Group of Companies is set to reshape the future of Malaysian industrial development as it showcases its flagship development, NCT Smart Industrial Park (NSIP) at the Selangor Industrial Park Expo (Spark) during the Selangor International Business Summit (SIBS) 2023.
- Local Government Development Minister Nga Kor Ming announced that the ministry is exploring the introduction of incentives for the build-then-sell concept in local residential developments as part of an effort to reduce the number of abandoned and unfinished projects in Malaysia.
- TH Properties, a wholly-owned subsidiary of Lembaga Tabung Haji, launched the latest phase of techpark@enstek, a freehold industrial park development at the Bandar Enstek in Negeri Sembilan covering 616.64 acres.
- One hundred top-performing real estate professionals and firms were honoured at the sixth edition of the StarProperty Awards Realtor Edition (SREA) organised by StarProperty. This year’s awards encompassed 27 categories (with three new categories) and 33 sub-categories to recognise outstanding achievements of 11 notable real estate agencies.