Malaysia’s 5 largest real estate transactions in Q1

The largest transaction was recorded in Kuala Lumpur worth US$205.9m.

The major transaction value in Malaysia’s real estate market increased 61% QoQ (RM1.13 billion: Q4/2021) to over RM1.82 billion.

According to Savills, the largest transaction took place in Kuala Lumpur itself, whereby Hap Seng Consolidated Bhd acquired a 15.3-acre vacant commercial site on Jalan Duta from TTDI KL Metropolis Sdn Bhd (the wholly-owned subsidiary of Naza TTDI Sdn Bhd) for RM868 million to build a mixed use development with an estimated gross development value of RM8.7 billion. 

Here’s more from Savills:

Moving to the northern region, Penang recorded the second-largest transaction of the quarter worth RM475 million. Ideal United Bintang International Bhd signed agreements with Aspen Bell Avenue Sdn Bhd to acquire 17 parcels of freehold industrial land measuring 834.4 acres in Seberang Perai, Pulau Penang for a total purchase consideration of RM475.39 million. The group plans to subdivide and sell individual plots to optimise future revenue. 

The third-largest deal of the reviewed quarter was concluded in Greater KL where Land & General Bhd acquired a 3.6-acre vacant leasehold commercial site in Puchong, Selangor for RM68.04 million. According to the buyer, the land is strategically located in the mature township, which has strong earnings potential. The buyer plans to build affordably priced high-rise residential units. 

Switching to built assets, AIMS Data Centre Sdn Bhd, a wholly owned subsidy of TIME dotCom Bhd acquired Employees Provident Fund’s (EPF) 13-storey office building together with 95 car park bays, known as Bangunan KWSP Changkat Raja Chulan for RM62 million. The acquisition will enable the buyer to expand operational facilities for their data centre business. This quarter’s overall transaction value was primarily led by development land mainly due to the Hap Seng deal in Kuala Lumpur, followed by various industrial transactions.