JOHOR BAHARU, Jan 3 — The move by the state government to acquire a stake in Bandar Malaysia Sdn Bhd is expected to generate profits that will be used towards enhancing the well-being of the rakyat.
Johor Menteri Besar Datuk Seri Mohamed Khaled Nordin said entering the shares acquisition tender as a bidder and subsequently won it represented an opportunity for Johor.
To read the full article, please visit Bandar Malaysia Stake Buy To Generate Returns To People Of Johor
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KUALA LUMPUR: With the conclusion of its debt rationalisation plan, 1Malaysia Development Bhd (1MDB) can now heave a sigh of relief as it waits for the measures to take effect.
With an initial debt amounting to RM42 billion, 1MDB began its six-month debt rationalisation plan in June last year which was expected to conclude by yesterday.
To read the full article, you can visit 1MDB Assets To Be Standalone Entities
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The stunning Cotswolds property created by model and designer Jade Jagger is now on the market for the sum of £1.25million! Complete with chic white walls and white resin floors, this house is perfect for anyone who wants to live and breathe Jade’s effortless style.
Built in 2008 as part of a new series of homes in a development which overlooks a disused quarry, the house has bags of style and stunning views of the surrounding Cotswolds countryside. The four bedroomed home has a light and spacious feel to the interior, with ceiling height windows which provide the rooms with an endless supply of light.
To read the full article, please visit Live Like The Like Rich And Famous In Jade Jagger’s Former Home
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SINGAPORE: The property market is poised for further slides this year, with weak economic growth and rising interest rates likely to drag prices south.
National Development (MND) Minister Lawrence Wong said recently it was too early to talk about unwinding cooling measures and suggested these steps would dampen demand.
To read the full article, please visit S’pore Home Prices Downtrend
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PETALING JAYA: The whopping RM7.41bil price tag for the sale of 1Malaysia Development Bhd’s (1MDB) 60% stake in Bandar Malaysia is considered reasonable, based on the valuation of surrounding plots of land within the vicinity.
In a research report, UOB Kay Hian Malaysia Research said the price paid by the purchasing consortium was “fair” given the asking prices for land in the surrounding and more developed areas ranged between RM350 per sq ft and RM650 per sq ft, particularly within the Taman Desa and Seputeh areas.
To read the full article, please visit 1MDB Stake Sale Price ‘Reasonable’
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The overall 2015 price fall of 3.7 percent is the lowest decline for private home prices for more than two years, revealed PropNex Realty citing latest flash estimates of the Urban Redevelopment Authority (URA) price index.
However, this still reflects the current languid market sentiment and the sustained impact of the cooling measures, noted the property firm.
To read the full article, please visit Grim 2016 For Private Housing Market
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KUALA LUMPUR, Jan 4 — Ikhmas Jaya Group Bhd’s unit, Ikhmas Jaya Sdn Bhd, has bagged an award worth RM166.4 million from Star Effort Sdn Bhd to develop two blocks of suite service apartments in Kuala Lumpur.
To read the full article, please visit Ikhmas Jaya Group Bhd Bags RM166.4 Mil Suite Service Apartment Project
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GEORGETOWN, Jan 5— The annual three- day Penang International Property Summit will be held at the Subterranean Penang International Convention and Exhibition Centre from Jan 8 to Jan 10.
The summit would showcase 30 exhibitors and a conference on Jan 8 where 200 industry stakeholders are expected to attend.
To read the full article, please visit Annual Penang Property Summit From Jan 8-10, 2016
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PETALING JAYA, Dec 5: The recent sale of a 60% stake in Bandar Malaysia to a Malaysia-China consortium is a boost for local property market sentiment in the new year, with significant positive implications, according to AmResearch.
On Dec 31, 2015, 1Malaysia Development Bhd announced that Iskandar Waterfront Holdings Bhd (IWH) and China Railway Engineering Corp (M) Sdn Bhd (CREC)’s RM7.4 billion bid for the stake in Bandar Malaysia came out tops of a bidding process which closed on Nov 9, 2015.
To read the full article, please visit Bandar Malaysia Deal Boost For Property Market
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PUTRAJAYA: The 2016 Budget will be adjusted soon, taking into account the current global economic developments.
Announcing this today, Prime Minister Datuk Seri Najib Razak said the strengthening of the US dollar, plummeting oil prices and major commodities, as well as the shrinking of major economies such as China, were among the factors taken into consideration.
To read the full article, you can visit Najib: 2016 Budget To Be Adjusted In Line With Global Economic Developments
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KUALA LUMPUR: AmanahRaya-REIT Managers Sdn Bhd, which manages AmanahRaya Real Estate Investment Trust, has appointed Noorbaizura Hermeyney as chief operating officer (COO) effective Jan 7.
The company told Bursa Malaysia that Noorbaizura, 36, had been its acting principal officer following the resignation of the previous COO Adenan Md Yusof on June 6, 2015. (The company has no chief executive officer or managing director.)
To read the full article, please visit AmanahRaya-REIT Appoints New Chief Operating Officer
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BATU PAHAT, Jan 7– Johor will receive new investment inflow worth RM500 million from a Japanese multinational company that is interested to undertake operations based in Tanjung Langsat, near here.
Johor Menteri Besar Datuk Seri Mohamed Khaled Nordin said the company was interested to operate at the industrial area which focuses on petrochemical and oleochemical related activities.
To read the full article, please visit Johor To Get Japanese Investment Worth RM500 Million This Year
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KUALA LUMPUR, Jan 7 — AmInvestment Bank has maintained its “overweight” call on the property sector following 1Malaysia Development Bhd’s (1MDB) proposed sale of a 60% equity stake in the Bandar Malaysia project.
The research house noted that based on this recent development, it estimates the implied land value for the project to be RM583 per sq ft from RM697 previously.
To read the full article, please visit AmInvestment Bank Maintains ‘Overweight’ Call On Property Sector
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BATU PAHAT, Jan 7 — The Malay Chamber of Commerce Malaysia (DPMM) has been urged not to be influenced by opposition claims that the sale of 1Malaysia Development Bhd’s (1MDB) stake in Bandar Malaysia to a Chinese firm could sacrifice national sovereignty.
In making the call, Johor Menteri Besar Datuk Seri Mohamed Khaled Nordin said DPMM should understand that what the 1MDB management had done was to enter into a transparent share sale and purchase agreement with no hidden agenda or negative impact on the nation.
He said the investors from China would not dominate or monopolise the development of Bandar Malaysia as claimed by the opposition.
To read the full article, please visit Don’t Be Fooled By The Opposition On 1MDB Asset Sales, Says Malay Chamber of Commerce Malaysia
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JOHOR BAHRU: There are pockets of opportunities in the Johor property market, especially in Iskandar Malaysia, despite the challenging year ahead for property developers.
Johor Real Estate and Housing Developers Association (Rehda) branch chairman Hoe Mee Ling said the association was cautiously optimistic on the market outlook for 2016 “but business remains as usual for us as the demand for properties is still there.”
“Demand for landed properties in southern Johor remains good, as there is still a large tract of land in Iskandar Malaysia for township development projects,” she told StarBiz.
To read the full article, please visit Rehda ‘Cautiously Optimistic’ on Johor property market
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CONSTRUCTION of affordable housing are among the focus of a five-year strategic plan which the Penang Development Corporation (PDC) has drawn up for 2016-2020.
Chief Minister and PDC chairman Lim Guan Eng said the building of such homes would increase house ownership among the people.
He said there would also be redevelopment of certain commercial, industrial and housing areas as well as infrastructure development for tourism.
To read the full article, please visit PDC To Build More Affordable Homes
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THE Ampang Jaya Municipal Council (MPAJ) has assured residents that road widening works in Pandan Perdana will be finished before the completion of an ongoing high-density project in the area.
MPAJ public relations officer Norhayati Ahmad said the developers of the project had agreed to widen eight roads before the project is completed in 2019.
To read the full article, please visit Promise of Wider Roads in Pandan Perdana Before Completion of High-Density Project
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Several property firms are predicting that Thailand’s real estate market will see growth of around five to ten percent in 2016, with Greater Bangkok expected to lead the charge, reported The Nation. The government’s investment in infrastructure projects across the country is just one reason for the positive outlook this year.
“When the government starts to invest in infrastructure projects, that will open up new land for property firms to develop residential projects,” said Thongma Vijitpongpun, President and Chief Executive Officer of Pruksa Real Estate. “This will challenge property firms to invest in the new locations following the new mass-transit route from Bangkok to the suburbs and nearby provinces.”
To read the full article, please visit Thailand Property To See Growth In 2016
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GEORGE TOWN: The Malaysian property market is generally expected to remain stable in 2016 but could see a dip of 5-6% compared with 2015 based on the market trend that has been seeing gradual decreases since the second quarter of 2014.
According to Raine & Horne International senior partner Michael Geh, the first half of 2016 is expected to record a dip in transactions with the primary market dropping by about 5,000 transactions to about 20,000 transactions while the number of secondary property transactions will remain at 95,000.
To read the full article, please visit Property Market Expected To Remain Stable This Year
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MALACCA, Jan 11 — The Malacca State Government and its agencies will upgrade and build several new buildings in the town centre to set up the Hang Tuah Trade Centre in a bid to boost economic activities in the area.
Chief Minister, Datuk Seri Idris Haron, said the 30- 40-hectare project will be in the vicinity of Jalan Hang Tuah, Jalan Tun Ali, Pengkalan Rama and Kampung Morten.
To read the full article, please visit Malacca To Set Up Trade Centre
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KUALA LUMPUR: Excerpts of exclusive interview with 1Malaysia Development Bhd (1MDB) president and group executive director Arul Kanda.
Question: Can you share a little bit more on 1MDB’s rationalisation plan? What is the company’s current liabilities and assets after it sold its 60 per cent stake in Bandar Malaysia?
Answer: If we look back at June 2015, the rationalisation plan was presented to the Cabinet, comprising three main aspects.
To read the full article, please visit 1MDB Focuses On Three Main Aspects
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KUALA LUMPUR: Transactions within the residential property sub-sector is likely to see flattish growth in 2016 as buyer sentiment continues to remain subdued this year.
CH Williams Talhar & Wong’s (WTW) managing director Foo Gee Jen (pic) said he expected to see a drop in residential property value and transaction volume this year compared with 2015.
“Going into 2016, we see headwinds and home buyers will remain cautious. There is also uncertainty in the job market, which will be a deterrent,” he said during the launch of the firm’s 2016 Property Market report yesterday.
To read the full article, please visit Residential Property Value To Drop This Year
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PETALING JAYA: Scanwolf Corp Bhd proposes to dispose of two parcels of commercial land in Kampar, Perak, measuring 3.72ha to The Combined Bus Services Sdn. Bhd (TCBS), for RM1.62 million.
In a filing with Bursa Malaysia, Scanwolf said it consists of a disposal consideration of RM1.3 million together with an infrastructure contribution of RM324,086 to build an integrated bus terminal complex.
To read the full article, please visit Scanwolf Corp Bhd Sells Kampar Land for RM1.62 Million
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SINGAPORE, Jan 13 — The S$3.2 billion(S$1=RM3.05) Tanjong Pagar Centre in which the Employees Provident Fund (EPF) holds a 20% stake, is on schedule for completion by mid-2016.
GuocoLand (Singapore) Pte Ltd’s Managing Director Cheng Hsing Yao said a wide range of tenants would be moving in progressively.
“For the office space, the tenants coming in are from the technology, finance and shipping sectors,” he told a press conference after the topping up ceremony of the Tanjong Pagar Centre, here Wednesday.
To read the full article, please visit Tanjong Pagar Centre To Be Completed By Mid-2016
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PETALING JAYA: Hard statistics and anecdotal evidence suggest demand in the property market has continued to weaken, according to Maybank Investment Bank Research.
The firm also said reported loan default cases and the rise in the number of properties up for auction pointed to a challenging market environment.
To read the full article, please visit Malaysian Property Market Weakness Seen Continuing
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GEORGE TOWN: Penang-based Ewein Berhad announced today that its subsidiary, Ewein Zenith Sdn Bhd has been granted the sole exclusive rights by Consortium Zenith Sdn Bhd BUCG (CZBUCG) to purchase three parcels of land measuring some 20.2 hectares or 2,178,000 square feet of land located at Bandar Tanjong Pinang for RM2.83 billion here.
The company said in a statement that the land has been slated for the development of its RM13.89 billion `Wellness City of Dreams’ project.
To read the full article, please visit Ewein Unit Buying Penang Seafront Land At Bandar Tanjung Pinang & Gurney Drive
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PUTRAJAYA, Jan 15 — The recalibration of the Budget 2016 will focus what are considered positive by the market and the people, said Prime Minister Datuk Seri Najib Tun Razak.
Najib, who is also Finance Minister, said the recalibration would include issues on the cost of living, unemployment rate, private sector boost and commodities, especially oil prices.
“These considerations will improve the welfare of the people and deal with what is deemed important by the people.
To read the full article, please visit Recalibration of Budget 2016 To Focus On What Is Considered Positive By The Mart And People
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SEREMBAN, Jan 18 — Felcra Bhd (Felcra) has identified 18 areas nationwide in preparation to build some 2,207 homes for second generation of Felcra settlers starting this year.
Its chief executive officer Datuk Ramlee Abu Bakar said the housing projects were underway in Sri Makmor, Pahang and Seberang Perak.
“In Negeri Sembilan 100 houses will be built in Lakai, Jelebu and the construction of houses for second generation settlers will be implemented in stages.
To read the full article, please visit Felcra Bhd Identifies 18 Areas For Second Generation Housing Projects
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GEORGE TOWN (Dec 29): There are mixed feelings among Penang folk about land reclamation, especially the latest plan to create man-made islands off the southern coast of the island to finance the RM27 billion Penang Transport Master Plan (PTMP).
Fishermen in the area are unhappy with the proposal by SRS Consortium Sdn Bhd to reclaim two islands off the shore near Kampung Permatang Damar Laut in Batu Maung, and said that once that happens, their livelihoods will never be the same again.
To read the full article, please visit Residents Near Penang Land Reclamation Project Fear The Worst
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KUALA LUMPUR, Dec 28: The Malaysian market is expected to remain tough next year as corporate earnings remain weak, said Eastspring Investments Bhd general manager of investment services Yvonne Tan.
“Corporate earnings forecast in the beginning of the year were about high single-digit growth. As of now, market is actually looking at a negative growth of 3%. Early last year, people were expecting high single-digit earnings growth but, towards the end, the earnings were revised to negative 5%. So this is the second year again we drop to an EPS (earnings per share) decline for the whole market. That doesn’t really help. Earnings are quite weak at corporate level,” she toldSunBiz in an interview.
To read the full article, please visit 2016 Will We Tough For Malaysian Market, Says Eastspring Investments
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PETALING JAYA, Dec 29: Property company Ewein Bhd’s unit Ewein Zenith II Sdn Bhd has inked a sale and purchase agreement (SPA) with Consortium Zenith BUCG Sdn Bhd (CZBUCG) to buy 4.42 ha of land in Penang for RM162 million.
Ewein Zenith II is a 60%-owned subsidiary of Ewein Land Sdn Bhd, a wholly-owned subsidiary of Ewein. The remaining 40% is held by construction company CZBUCG.
Previously, CZBUCG was awarded a works contract for a major road and third link (tunnel) project in Penang by the Penang state government for RM6.3 billion.
To read the full article, please visit Ewein Bhd To Buy Land In Penang For RM162 Million
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Last year saw property buyers and aspiring house owners being plagued with negative sentiments especially with the falling Ringgit. As we start the new year, the top-most question on everyone’s mind – where is the property market heading?
iProperty.com consulted some industry experts and developers to learn what the property industry has in store for the ‘Year of the Monkey’.
To read the full article, please visit Malaysia’s Property Market In 2016: What To Expect & Predictions
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PETALING JAYA: Malaysians want to see a conclusion to the 1Malaysia Development Bhd (1MDB) investigations so that the country can deal with other economic issues, said Bank Negara governor Tan Sri Zeti Akhtar Aziz (pic).
Zeti, who will be retiring in April, said various authorities were investigating different aspects of the strategic development company.
“Everyone wants a conclusion so that we can just move (on), so that the currency will better reflect our fundamentals and we can deal with the other economic issues that the country is being confronted with,” she said in an exclusive interview with CNBC.
To read the full article, please visit Zeti: Malaysians Want To See Conclusion To 1MDB Investigations
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KUALA LUMPUR: Hospitality specialists Container Hotel Group and Everly Group have collaborated to manage the first international youth hotel in Cyberjaya.
The 300-room hotel, located in a 10ha land in Roppongi, will be developed by BND Global Development.
“The location is strategic as Roppongi will be the education hub in Malaysia as it will house SEGI College, Cyberjaya University College of Medical Sciences, as well as an international school,” said BND Global chief executive Vincent Fong in a press conference today.
To read the full article, please visit Malaysia To Have First International Youth Hotel In Cyberjaya
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GEORGE TOWN, Jan 19 — The DAP-led Penang government today announced the rebranding of low-cost and medium-cost houses to affordable housing types A and B.
With the rebranding, low-cost houses costing RM42,000 each will now be known as affordable housing type A and medium-cost houses priced at RM72,500, as affordable housing type B.
State Housing, Town and Country Planning Committee chairman Jagdeep Singh Deo said houses priced at RM150,000 each would be known as affordable housing type C; a house worth RM200,000 as type D; that costing RM300,000 as type E, and one costing RM400,000 as type F.
To read the full article, please visit Penang Government Rebrands Low-Cost And Medium-Cost Housing
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Luxury property developer Simon Cheong recently sold a good class bungalow (GCB) that he built along King Albert Park within the Bukit Timah/Clementi Road vicinity, reported The Business Times.
The property was sold for $25 million, which works out to $1,493 psf based on the freehold land area of 16,750 sq ft.
Completed in late 2012, the two-storey bungalow has a built-up area of around 10,000 sq ft and comes with a swimming pool. The property is currently being tenanted.
To read the full article, please visit Famed Developer Sells $25m Bungalow
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UPDATED: A residential site at New Upper Changi Road/Bedok South Avenue 3 (Parcel B) was launched for sale by public tender today, revealed the Urban Redevelopment Authority (URA).
The 2.4ha site which could yield about 570 housing units was made available for sale on the reserve list of the second half 2015 Government Land Sales (GLS) Programme.
To read the full article, please visit Tanah Merah Site Launched For Sale
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KUALA LUMPUR, Jan 28 — Prime Minister Datuk Seri Najib Tun Razak will announce the recalibrated Budget 2016 at noon Thursday which will be based on the reality of the current economic situation.
The recalibrated Budget 2016, though necessary, will not in any way impact the people.
In fact the government, in deciding on recalibration measures, looked at optimising expenditure, reprioritising projects, stretching the ringgit and postponing some development expenditure.
To read the full article, please visit Najib To Announce Recalibrated 2016 Budget Today
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The total value of all developed properties around the globe has been revealed to be USD217 trillion, which is 2.7 times larger than the world’s GDP.
Let that sink in for a moment.
In a new analysis by consultancy and advisory firm Savills, which published the study for the first time, the world’s developed property universe has been estimated to make up 60 percent of mainstream global assets.
To read the full article, please visit Here’s What Happens When You Combine The Worth Of The World’s Real Estate
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KUALA LUMPUR, Feb 23 (Bernama) — A total of 1.24 million people have registered for ownership of affordable houses under the Perbadanan PR1MA Malaysia programme, said its chief executive officer Datuk Abdul Mutalib Alias.
He said 90% of the applicants were below the age of 40, unmarried singles (47% ), married (49%) and divorcees (4%).
66% of the total applicants are Malay, Chinese (28%) and Indian (6%), he said in his speech at the presentation of prizes to winners of the PR1MA-PAM (Malaysian Institute of Architects) Architecture Ideas Student Competition here today.
To read the full article, please visit 1.24 Million People Have Registered For PR1MA Houses
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PETALING JAYA, March 1— The Real Estate and Housing Development Association Malaysia (REHDA) is encouraging banks to be more flexible in providing loans to first-time house buyers.
Fifty per cent of these buyers are not entitled for loans because they are unable to come up with the down payment, drew low salaries and had existing commitments.
REHDA Chairman Datuk Ng Seing Liong said first-time buyers, who were usually young professionals and fresh graduates, should be given the chance to own a house and reap the returns on their investment for the future.
To read the full article, please visit Banks Should Offer First-Time House Buyers Flexibility In Obtaining Loans
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KUALA LUMPUR, March 2 (Bernama) — The government has agreed to review the National Housing Policy, especially related to property prices, which was proposed be decided by the government, not just to market forces.
Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi said the government via the Urban Wellbeing, Housing and Local Government Ministry could conduct prudent price control by taking into account certain elements such as location and type of house.
To read the full article, please visit Government Will Review National Housing Policy
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KUALA LUMPUR, March 2 (Bernama) — First time house buyers should shop around to find financing which best suits their needs as certain commercial banks do offer special packages for first timers, says Association of Banks in Malaysia (ABM).
ABM also suggested that these first timers work with their financiers when assessing the suitability and affordability of any facility applied to ensure a more robust financial management for buyers.
To read the full article please visit House Buyers Must Shop Around For Best Financing Package
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PUTRAJAYA, March 3 (Bernama) — The Urban Wellbeing, Housing and Local Government Ministry through the National Housing Department (JPN) has never offered the 1Malaysia Affordable Housing Scheme (K1MMM) to the public.
JPN director-general Datuk Mohamad Yusoff Ghazali said the bogus scheme offered by Serata Prima Sdn Bhd was using the logos of the ministry, the deparatment and Private Affordable Ownership Housing Scheme (MyHome).
To read the full article, please visit National Housing Department Never Offers K1MMM To Public
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