Setia EcoHill 2 to launch in 1Q of 2016
Property developer SP Setia Bhd will launch its newly-approved Setia EcoHill 2 township in the first quarter of next year. The new township will be developed near its first Setia EcoHill township project in Semenyih, Selangor and will cover 1,010 acres of land with a gross development value of RM5 billion. The new township will have homes and shops developed over 18 phases, each with its own themed park and garden in line with its ‘eco’ tagline. There will be a total of 8,024 homes with the majority being terraced houses. Prices have yet to be confirmed, but SP Setia is looking at a 10% markup based on similar launches in Setia EcoHill. (The Edge Property)
RM63 million undeclared by MARA for fourth Melbourne property
The National Oversight and Whistleblowers (NOW) has said that Mara had declared a higher purchase price of RM138 million for 746 Swanston Street during its official briefings, when in actuality it had only had paid around RM75 million for the property. NOW director Rafizi Ramli said this was based on comparing the Mara briefings from May last year and a sales listing in an Australian website for the property in 2012, when the purchase was made. (The Malaysian Insider)
Sungai Besi airbase to relocate by end-2016
The Sungai Besi Royal Malaysian Air Force (RMAF) air base has commenced its relocation process, and is expected to be completed by end of 2016. The land where the airbase is located has been earmarked by the government for development of the 198ha Bandar Malaysia project. The master developer of Bandar Malaysia, 1MDB Real Estate Sdn Bhd, has been tasked with relocating the current base – which houses the RMAF, Royal Artillery Regiment (31 RAD) and the air wing of the Royal Malaysian Police (PDRM) – to eight different sites around the country. (The Edge Financial Daily, 3 July 2015, pg. 4)
Ampang LRT line extension on track
Prasarana Malaysia Bhd is confident that its Ampang LRT line extension project phase one is on track to launch on Oct 31 as scheduled, with overall completion of Phase 1 at 93%. The four new stations will be opened for full service on Oct 31, and the new trains were being tested. The second phase of the extension project is almost 70% done, and expected to be completed by March 31 next year. (The Star Online)
The new trains for Ampang LRT line extension are being tested before the launch on Oct 31. (Photo from The Star)
Transforming Kuala Lumpur into a River City
EkoVest Berhad, which headed the development of the Duta-Ulu Klang (DUKE) Highway, will now lead the “Kuala Lumpur River City” urban rejuvenation project to transform KL’s northern river corridor into a world class river city. The project will span a 3km stretch along the Gombak River, and its main highlight will be the water system which combines technology and recreation. A mixed development building will also be built along the KL River City area, and have access to public transportation and a river taxi service. (The Sun Daily)
UDA to launch RM2bil developments in Penang
UDA Holdings Bhd has announced its plans to launch three property development projects in Penang this year, with a total gross development value of nearly RM2 billion. The projects include an integrated commercial and residential development (RM1.2 billion), a gated and guarded lifestyle project in Bertam (RM600 million) and two blocks of apartments on wakaf land (RM23 million). Besides Penang, the company also has plans to launch projects in Ipoh, Perak and Kangar, Perlis. (The Star Online)
Household waste separation penalty in effect June 2016
The Urband Wellbeing, Housing and Local Government Ministry has clarified that penalties for households that fail to separate their waste will only take effect after May 2016, following criticisms and suggestions to allow more time for review of the move and to address low awareness in waste management among the public. The waste separation programme will start in September this year, and households are urged to prepare themselves for the mandatory practice. (The Rakyat Post)
