Ubisoft theme park planned for Malaysia
Malaysian integrated theme park developer RSG Group is partnering with interactive entertainment and services player Ubisoft Motion Pictures to develop a theme park in Kuala Lumpur, Malaysia. The actual cost for the development has yet to be finalised as the first-of-its-kind theme park consists of different components. The park will be a 10,000-square-meter indoor complex featuring rides, shows and other attractions, all built around Ubisoft’s games and characters. Construction will start by end of 2016 or early 2017, and expected to open in 2020. RSG will fund, develop, own and operate the park, while Ubisoft will maintain creative control over the attractions. Ubisoft is the developer for highly popular games series such as Assassin’s Creed, Far Cry, and Rayman. (The Sun Daily)
PLB Engineering’s profits down, slows new launches
Penang-based property developer and builder PLB Engineering Bhd is expecting lowered profits for its financial years ending August 31, 2015 (FY15) and 2016 (FY16) compared to FY14 amid a soft property market. The group is taking precautions by slowing down new launches, and focus on developing affordable properties on its existing land bank, which its property development arm has already initiated. The group is forecasting a pre-tax profit of RM5 million for FY15, and RM10 million for FY16, driven by ongoing and upcoming property developments. However, the figures are still below its RM19.32 million pre-tax profit for FY14. (The Malaysian Insider)
DBKL to give discounts and fast approvals as incentive for developers
Kuala Lumpur City Hall (DBKL) will start giving discounts on development charges and fast approval for development orders to spur economic activity in the city, as part of a new incentive for developers to continue developing despite the slow economy. KL mayor Datuk Mohd Amin Nordin Abd Aziz said that the falling ringgit was good time to buy properties. DBKL has yet to decide the amount of discount to be given, but it will take them a week to study before coming to a decision. Real Estate and Housing Developers Association Malaysia (Rehda) said it appreciated any help during the current economic climate. (The Star Online)
Scientex to buy Iskandar land for RM218mil
Scientex Bhd has plans to acquire 326.06 acres of land in Iskandar, Johor for RM218.97 million as part of its land banking activity. It’s unit Scientex Quartari Sdn Bhd had signed two sales and purchase agreemtns (SPA) with Bukit Gambir Company Sdn Bhd and Jayaplus Bakti Sdn Bhd respectively. The land located at Pulai will provide a steady and sustainable property development model with focus on landed properties and affordable homes. The company intends to raise RM175mil for the acquisition and the rest from its own funds. (The Star Online)
The Media Shoppe bags RM192mil Kemaman project
The Media Shoppe’s unit, Exonion Sdn Bhd, has entered into a managing contract agreement with Total Merit Sdn Bhd to develop a 12.1407-hectare land in Kemaman, Terengganu. The company will provide professional project management facilities for the RM192 million mixed development project, which comprises 43 units of double-storey shop lots, five blocks of 12-storey apartments, an 11-storey affordable apartments and amenities. The project is the software development company’s first venture into property development and construction. (The Malaysian Insider)
DBKL, Prasarana suggest special coach for bicycles
The public is urged to use bicycles in a move towards a green city, as facilities such as bicycle storage areas would be provided. There are also plans for the public to be allowed to take folding bicycles aboard Light Rail Transit (LRT) trains during non-peak hours. With the availability of these facilities, it is hoped that city dwellers will be encouraged to use bicycles and public transport to move about. Other facilities in the pipeline include a stop-over to change clothes and bicycle routes complete with safety features for the public.RM5 million is expected to be spent to develop the infrastructure and provide the facilities this year. (The Sun Daily)
