Kiara 3 Update

Kiara 3 Construction Update

Kiara 3 is scheduled for completion and handover in Q4 2010. The development is currently built up to around the 23rd floor and the basic main structure will be completed within the next few weeks. Please see latest construction photographs below.

Malaysia Economic Update

Southeast Asia’s third-largest economy is estimated to see GDP growth of 5.3% in 2010 and 4.9% in 2011. The growth in GDP will primarily be driven by an export rebound and public investment spending according to the latest CLSA research. [1]

Although the electronics sector faces uncertain demand in 1H10 with US consumer demand unlikely to strengthen convincingly before late 2010. While Asian exporters will continue to be shielded by robust demand from China. [2]

According to CLSA, Bank Negara may be slow to react to inflation while doubts on global demand persist. They expect the first hike to be delayed until July and forecast only a 75bp hike in rates in 2010. [3]

Kuala Lumpur Property Market [4]

The second half of 2009 saw continued optimism in the market with developers re-visiting their marketing plans of their deferred launches. The demand for high end condominiums improved in the second half of 2009 with more enquiries and transactions noted in the market.

An increasing number of developers are now preparing to launch further project in the next six months, in anticipation that the economic conditions will continues to improve into 2010. Prices and rents are anticipated to hold stable in the short term as supply and demand are hovering at equilibrium level.

[1] Eye on Asia Economies 1Q2010
[2] Eye on Asia Economies 1Q2010
[3] Eye on Asia Economies 1Q2010
[4] Knight Frank Real Estate Highlights 2nd Half 2009

Written by: Christopher Chadd