Real estate investors should look at the positive side during the current economic uncertainty, as there is still some upside in this sector.MGPA (Bermuda-based real estate investment company) invest RM2 billion in real estate market.

Construction cost is now at a moderate rate and with careful selection of property investment, MGPA still can make benefit. MGPA will invest RM2bil (including acquisition and construction costs) in The Intermark.

The amount involves the complete refurbishment of 62-storey landmark grade A office building Vista Tower (formerly known as Empire Tower), a new international grade A office building Integra Tower, retail centre Intermark Mall (formerly known as City Square) and Malaysia’s first Doubletree by Hilton Hotel.

MGPA – through it’s Asia Fund 2 – acquired the Empire Tower, City Square, the Crown Princess Hotel and Plaza Ampang in 2007 for about RM760mil. Read more »