The last quarter of 2015 saw 15 major land transactions with a total consideration of RM11.284 billion. The purchasers were predominantly local developers, with seven sites in Kuala Lumpur, five in Selangor, two in Penang and one in Johor.

The largest transaction was the sale of a 60% stake in Bandar Malaysia by TRX City for RM583 per sq ft (a total value of RM7.41 billion) to a consortium comprised of China Railway Engineering Corporation and Iskandar Waterfront Holdings in December 2015. Bandar Malaysia is the proposed redevelopment of the Sungai Besi Airport, home to KL’s first international airport, spanning 486 acres in Sungai Besi, Kuala Lumpur and includes the end terminus for the proposed KL-Singapore High Speed Rail Project.

Other major transactions include MRCB being awarded a RM1.632 billion mandate to regenerate the Bukit Jalil National Sports Complex into a fully-integrated sports hub with sports training facilities, a Sports Museum, Youth Hostel, Convention Centre and retail centre; WCT purchasing a 1.65-acre piece of commercial land in Tun Razak Exchange for RM223 million; and KWAP, the civil servant retirement fund, purchasing a 0.72 acre parcel of development land located at Jalan  Changkat Kia Peng for RM87.92 million.

In Selangor, the largest land deal was the sale of 680 hectares of agricultural land in Sepang by Guocoland (Malaysia) to Putrajaya Holdings in October 2015, for RM475 million.

Around the same period, CSB Development Sdn Bhd acquired 53.37 acres of land for a mixed development site known as Cyberjaya City Centre Development Area No. 1, transacting for a sum of RM348.75 million or RM150 per sq ft. CSB Development Sdn Bhd is a joint-venture between MRCB Land Sdn Bhd and Cyberview Sdn Bhd that will undertake the development of Cyberjaya City Centre (CCC) which comprised residential units, retail, hotels and a convention centre.

In Penang, Hunza Properties Berhad acquired 9.7 acres of residential land in Bayan Baru for RM57.02 million in October 2015, reportedly for an affordable residential development. Ewein Zenith II Sdn Bhd proposed to acquire 4.43 acres of land in Section 1 Bandar Tanjong Pinang in Penang for a sum of RM162.00 million.

In Johor, 33.6 acres of development land in Zone C of Medini, Iskandar Malaysia was acquired by BCB Berhad for a sum of RM58.53 million or RM40 per sq ft in early October 2015, for the development of commercial shop-offices.

The property investment market was also active in Q4/2015. In November, AXIS-REIT acquired four units of single-storey detached factories, along with some office space (all currently tenanted at a net yield of 7.1% per annum), within i-Park Industrial Park, Indahpura, Johor for RM61 million.

In December, AmFirst REIT disposed of the 13-storey AmBank Group Leadership Centre to Techvance Properties Management for RM36 million or RM623 per sq ft on net lettable area, while Blackrock’s Intermark Mall, part of the Intermark integrated development, was sold to Pavilion REIT for RM160 million or RM711 per sq ft on NLA. The mall enjoys an occupancy rate of 74% as of September 2015, and is the second shopping mall acquired by the Pavilion REIT in 2015, da:men USJ Shopping Centre being the other.