Artist-turned-gallerist Amy Hashim says opening up Art Realm Gallery felt like a natural progression to work with artists and art communities. Photo: Amy Hashim
For stay-at-home mother Amy Hashim, running a gallery on the second floor of her house in Subang Jaya, Selangor was never the end goal.
After practising as a full-time artist for eight years and running Amy Hashim Art (AHA) Gallery for four years, the Kelantan-born painter felt it was high time the gallery expanded beyond her home.
So last October, together with her retired husband Azmi Tun Abdullah, Amy co-founded Art Realm Gallery (ARG) in Kuala Lumpur.
Terraced houses and condominiums enjoyed some of the best returns and capital appreciation prior to the influx of high-rise units in the Klang Valley property market in the mid-2000s, says PPC International Sdn Bhd managing director Datuk Siders Sittampalam. Rents generally declined owing to the increased supply, he adds.
“Owing to the rising cost of land, developers adopted vertical development. The growing population and demand for housing led to the growth of high-rise developments, and land for development became scarce and costly,” Siders says.
On top of the persistent soft market, last year had been challenging to both the economy and the property market generally, owing to the Russia-Saudi Arabia oil price war, US-China trade war, change in government in Malaysia and the Covid-19 pandemic, Siders notes. “The real estate market [saw] declining sales volume, capital values and rental returns or yields.
In the near term, the trend of working from home amid movement restrictions to contain the spread of Covid-19 will further depress the office market in the country, particularly in the Klang Valley where there is growing imbalance between supply and demand, says Knight Frank Malaysia.
“The tenant-led office market in the Klang Valley is expected to remain relatively soft with office landlords reviewing their current and new occupancy strategies as they remain sensitive to the occupancy and operational cost of their buildings,” says Teh Young Khean, executive director of corporate service at Knight Frank Malaysia.
Presenting The Edge/Knight Frank Kuala Lumpur and Selangor Office Monitor 4Q2020, he adds that organisations will have to adapt and rethink their strategies in the face of a constantly evolving environment, including planning workspace commitments.
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Tuesday, 23 Feb 2021 05:33 PM MYT
BY IDA LIM
The news report cited an anonymous source as confirming that the court had recorded a judgment in default against 1MDB s former general counsel or in-house lawyer Jasmine Loo Ai Swan. Picture by Yusof Mat Isa
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KUALA LUMPUR, Feb 23 The High Court has granted the Malaysian government a judgment in default (JID) against 1Malaysia Development Berhad’s (1MDB) former general counsel or in-house lawyer Jasmine Loo Ai Swan, in the lawsuit over the RM2.496 million in taxes that she has yet to pay to the government.