25/09/2025

PROPERTY THURSDAY | SEPT 25, 2025

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NexG Bina to build on growing project pipeline

PropertyGuru Malaysia promotes inclusivity in rental market PETALING JAYA: To mark the recent Merdeka and Malaysia Day celebrations, PropertyGuru Malaysia introduced the Everyone Welcome tag, a search feature designed to encourage inclusivity in the rental market. The initiative reflects the spirit of unity while tackling concerns of bias in property listings. The voluntary tag allows agents and landlords to mark their listings as non discriminatory, signalling that all potential tenants – regardless of race, religion, gender, or background – are welcome. It gives renters added confidence while promoting fairer, more open rental practices across Malaysia. With the Everyone Welcome filter, renters can now identify inclusive listings at a glance, a meaningful tool designed to support fairer housing options in Malaysia. The feature is paired with existing platform safeguards including listing guidelines and reporting mechanisms for discriminatory, duplicate, and fake listings. “Finding a home should always feel safe, fair, and transparent for everyone,” said Kenneth Soh, country manager Malaysia – PropertyGuru and iProperty. “The Everyone Welcome tag reflects our belief that inclusivity is essential. As Malaysia’s leading property marketplace, we have a responsibility to build trust, lead by example, and empower more people to find homes where they feel truly welcome in Malaysia.” According to findings by Architects of Diversity Malaysia (AOD) and Swayable, 60% of tenants said they had faced racial discrimination when renting, highlighting how lived experiences strongly shape public perception. AOD’s Omnibus survey revealed that while nearly 49.9% of respondents felt landlords should retain the right to screen tenants based on race, a significant and growing share (31.6%) expressed support for fairer, more inclusive rental practices that prioritise equal opportunity for all.

KUALA LUMPUR: Shareholders of Classita Holdings Bhd recently approved the company’s change of name to NexG Bina Bhd at its extraordinary general meeting (EGM), reflecting the group’s strategic expansion into the property, construction and infrastructure sectors. The group emphasised that its transformation is anchored by tangible assets and a growing development pipeline. Collectively, its key ongoing and planned developments in Tapah, Ulu Kelang and Bentong represent an estimated GDV of over RM360 million, underscoring the group’s foundation for long-term growth. In Tapah, Perak, the group holds a remaining landbank of approximately 12.7 acres for development within a broader 94 acre master plan, strategically located near UiTM Tapah and the Ibu Pejabat Polis Daerah (IPD) Tapah. Within this site, 2.8 acres are earmarked for 86 terrace houses with an estimated GDV of RM34 million, which are planned primarily on a build-and-lease model, with the option to sell instead if required. Together with 34 completed shoplots that are being remodelled into student studios, the combined portfolio could generate recurring rental income of up to RM2.5 million annually, translating to an estimated gross yield of around 5–8%. In Ulu Kelang, Selangor, located along MRR2, the group is targeting an affordable housing project on a build-and-lease model, prioritised for Polis Diraja Malaysia (PDRM) under a potential Built-Lease-Transfer (BLT) scheme, or alternatively to be leased to the public. This approach could generate up to RM2.5 million rental income per annum, translating to a gross yield of 5.4–6.6%. The project carries an estimated GDV of RM47.5

o Transformation of company, formerly known as Classita Holdings, anchored by tangible assets, as well as ongoing and future developments

access new facilities without immediate fiscal outlay while creating predictable, long-term recurring income for the group. At the same time, the group is pursuing strategic collaborations on large-scale infrastructure. Through its partnership with Lion Pacific Sdn Bhd, a reputable engineering and project delivery firm, the group is exploring opportunities in transport infrastructure such as MRT3 and other national connectivity projects. This positions the group to gradually broaden its portfolio beyond residential developments into integrated infrastructure solutions, in line with the country’s long-term development agenda. Speaking after the EGM, group non executive chairman Tan Sri Razarudin Husain said: “We are realistic – this transformation is still at an early stage. Our near-term projects like Tapah, Bentong and our land rationalisation in Kinta show that we can execute while beginning to recycle capital effectively, while our Ulu Kelang, BLT projects and Lion Pacific collaboration reflect the direction we are heading. The journey is about building credibility step by step so that the group can play a role in supporting the government’s efforts under RMK-13, which calls for one million affordable homes by 2035.” The group also highlighted its healthy cash position of approximately RM73.6 million as at June 30, 2025, providing strong support for current operations and future ventures.

million, with a potential gross development profit (GDP) of RM9.6 million if undertaken as a sale instead. In Bentong, Pahang, construction is ongoing at the group’s 7.97ha Kepayang Heights development, which spans two phases with a total GDV of RM277.4 million. Positioned as a high-end residential enclave, the project includes semi-detached homes, bungalows, a commercial clubhouse, serviced apartments, and lifestyle features such as a traditional Chinese medical centre and an organic farm. Phase 1 is targeted for completion by second half 2027. In Kinta, Perak, the group is in the midst of disposing of one industrial plot for RM6.7 million, expected to realise a gain of RM2.7 million, and is planning to divest another. The remaining two plots will be developed into industrial facilities, balancing immediate capital recycling with long-term recurring income. Beyond these, the group is preparing a pipeline of projects aligned with national development priorities under RMK-13 and the Madani framework. These include proposed BLT projects for critical public sector facilities such as the new Ibu Pejabat Polis Kontigen (IPKs) in Kuantan, Meru and Kota Bharu, as well as police quarters. The BLT model can also be extended to other institutional and infrastructure assets – from educational and healthcare facilities to transport and civic infrastructure – enabling the government to

RHB, OSK join hands to widen access to overseas properties for M’sians KUALA LUMPUR: RHB Banking Group recently announced a strategic collaboration with OSK Property to offer Malaysians greater access to overseas residential properties flexible repayment terms, no-cost redraw facilities, and early release options during the construction phase.

like Melbourne Square.” OSK Property group managing director Ong Ju Yan added, “RHB Bank has introduced an innovative and flexible financing product for Malaysians to acquire properties overseas. This unique product can help Malaysian investors and families to fulfil their dreams of owning a property in a prime location like Melbourne Square.” The partnership was launched at Beyond Borders: Australia Property Investment Outlook, an exclusive event that brought together property experts and investors. Knight Frank Malaysia associate director of international residential property Dominic Heaton-Watson delivered the keynote presentation, highlighting Melbourne’s robust economic fundamentals and rising popularity among buyers seeking property for their children’s education. RHB plans to expand its overseas property financing to include more Australian cities and outer zones of London, aligned with market trends and client needs. The RHB Premier proposition reinforces the group’s commitment to delivering financial solutions that help clients grow their international real estate investments.

Banking & Finance RHB Banking group managing director/group CEO Datuk Mohd Rashid Mohamad said, “RHB remains committed to being the trusted partner for our premier clients as they diversify and expand their residential The financing solution is also applicable for properties in London, UK (Zones 1-3 – London’s Zones 1 to 3 refer to the central and inner areas of the city, typically defined by the Transport for London (TfL) fare zones for public transport. These zones encompass London’s primary business districts, major cultural attractions, and well-connected residential neighbourhoods. For more details on London’s transport zones, refer to TfL’s official website: https://tfl.gov.uk/fares or https://tfl.gov.uk/maps). This offering is part of the group’s plan to expand its overseas property financing to key global cities, aligning with market trends and the aspirations of its premier clients. The product’s features are designed for clients to manage foreign exchange exposure while complying with Bank Negara Malaysia’s regulations.

through the launch of the RHB Overseas Property Financing solution. This offering debuts with Melbourne Square, OSK Property’s landmark development in Southbank, Melbourne, Australia. Melbourne Square is a mixed-use precinct offering spacious residences with panoramic city views, extensive green spaces, and convenient proximity to universities, retail hubs, and cultural attractions. This makes it an attractive choice for Malaysian seeking to secure an alternate residence with long-term capital appreciation. Under this strategic partnership, RHB Premier clients can now access Malaysian Ringgit (MYR)- denominated full flexi housing loans for overseas residential properties in Australia. The RHB Overseas Property Financing solution, designed for Malaysians who are neither permanent residents nor citizens of Australia, is applicable for properties in Melbourne and Sydney (within a 30km radius of the Central Business District). The financing comes with

From left: Ong Ju Yan , Mohd Rashid, RHB Banking Group managing director, group community banking Jeffrey Ng Eow Oo and OSK Holdings Bhd deputy group managing director Ong Ju Xing at the launch of the RHB-OSK Property strategic collaboration.

Through this partnership with OSK Property, we are offering our clients seamless financing solutions that enable them to confidently capitalise on premium overseas opportunities

real estate portfolios beyond Malaysia’s borders. Property continues to be a time-tested, resilient asset class, offering long-term value and a natural hedge against inflation.

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