Daily Industry News Update (21 August 2022)

SP Setia’s outlook remains cautionary as sales show decline, says HLIB Research

Hong Leong Investment Bank Bhd (HLIB Research) remains cautious about SP Setia Bhd’s sales outlook, given that the sales from its completed inventories are declining.

i-City: The first real estate development in Selangor’s capital city to receive royal support

Thirteen years have passed since the Sultan of Selangor Sultan Sharafuddin Idris Shah designated i-City, Malaysia No.1 Technology City an international zone. i-City was also the first property project in the capital city to get Royal support to become an integrated development. Being an international zone allows i-City to build Grade-A office towers, international hotels, a regional shopping mall, restaurants, cafes, and cinemas to draw in foreign direct investment and multinational corporations.