PublicInvest research said the RM6bil mixed development was earlier expected to be soft-launched on Aug 8, 2018.
The research house said it expects the 1.5 million net lettable area to be leased by end-2019.
“Leasing progress, we understand, is very encouraging with most of the available units to be taken up by end-2019,” it said.
Meanwhile, occupancy in the newly completed Southpoint Tower in MId Valley City is gaining traction despite current office space oversupply.
The residention portion of Soutpoint is also being “tweaked” to make the units more marketable, said PublicInvest.
In the UK, the 18 Blackfriars mixed projects is expected to be unveiled in 2020 due to longer-than-expected approvals from the city council.
The research house also said that the joint venture to develope a project in Bangkok is on the backburner as the group awaits a more conducive environment before starting on the 5.8-acre site.
PublicInvest maintained its neutral recommendation and target price of RM2.80 pegged at about 65% discount to its RNAV estimates in view of the de-rating of the property sector.