Another Real Estate Investment Trust (REIT) will be listed on the Main Market of Bursa Malaysia on 7th DEC 2011. Pavilion REIT, which is expected to raise RM695.2 million from its initial public offering (IPO), has secured six cornerstone investors to take up 265 million units at an offer price of RM0.90 sen per unit or the institutional price, whichever is lower. The cornerstone investors are Permodalan Nasional Bhd, Employees Provident Fund Board, Kumpulan Wang Persaraan (Diperbadankan), Great Eastern Life Assurance (Malaysia) Bhd, American International Assurance Bhd and HwangDBS Investment Management Bhd.
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Distinction for property developments in Malaysia has no other name than that of the FIABCI Malaysia Property Award, the annual awards define the gold standard for building projects not just nationally but all over the world. The Quill Group of Companies and UEM Land Berhad were the big winners at the FIABCI Malaysia Property Award 2011 organised by the Malaysian chapter of FIABCI, the international real estate federation, on last Saturday night, 15th OCT 2011 at One World Hotel, Bandar Utama. Both Quill and UEM Land won multiple awards each amid much fanfare at the premier national property award which recognises the best in the country’s property projects.
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Since its inception in 2005, iProperty Expo will enter its 11th series tomorrow! The expo is an event that brings together the world’s finest luxury and investment properties showcase for the most discerning home buyers and investors. There will have a 50 percent increase in booth investments from exhibitors in the upcoming event, compared to the last one held in FEB 2009. You will see more developers coming in to participate, with top players like SP Setia, Mah Sing, Sime Darby, IJM and more.
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Do you still remember the Real Property Gains Tax (RPGT) on all properties sold being announced during the 2010 Budget? Now, there is an alteration on it. The five percent RPGT will now only be applicable to properties that are sold within five years of their purchase, commence on 1st JAN 2010.
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Group managing director of Malaysian Resources Corp Bhd (MRCB), Shahril Ridza Ridzuan was honored as the Property CEO of the Year in the International Real Estate Federation (FIABCI) Malaysia Property Award 2009 yesterday, 16th NOV 2009. The Malaysia Property Award, dubbed the “property Oscars” by industry players, has been an annual affair since 1992 for key players of the real estate industry, which is presented by the FIABCI Malaysia, with Maybank as the official sponsor. The ceremony was graced by the Sultan of Selangor, Sultan Shahrafuddin Idris Shah Al-Haj.
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