8 Conlay sales gallery launched, price psf raised
The signature sales gallery of branded mixed-use development 8 Conlay at Jalan Conlay was unveiled yesterday. Developer KSK Land Sdn Bhd is optimistic that the RM5.4 billion project, which comprises branded residential, retail and hotel components, will be well-received. In fact, the project is coming in at a higher GDV from its initial RM4.5bil, and has raised its price per sq ft from RM2,700 to RM3,200 due to “strong interest”. The four-acre project will have two blocks of branded residence known as YOO8 of 57 and 62 floors serviced by Kempinski, and a 68-storey hotel managed and operated by Kempinski, Europe’s luxury hotel group that dates back to 1897. Presented yesterday at the sales gallery were show units for YOO8 Serviced by Kempinski, the branded residences at 8 Conlay. The development is slated for completion by 2020. (The Star Online)
KNU redevelopment to continue despite protests from tenants
UDA Holdings Bhd will continue with its redevelopment plans for Kompleks Niaga Utama (KNU) in Bangsar despite protests by some of the remaining tenants over their eviction. The tenants had demanded RM100,000 per lot as compensation and a 6-month period to move out. UDA said they would compensate the traders by bearing the cost of moving and storage, and said that the traders had been offered new lots in Pudu Sentral and Pertama Complex. There are currently only 13 tenants occupying 18 lots out of the 86 lots available at KNU. The developer is willing to give them until end of the year to move out, after which they may go through legal processes to evict any remaining tenants. (The Star Online)
UDA’s redevelopment plans for KNU feature service apartments, offices and retail lots. ― Photo from The Star Online)
Encorp to recover Australian JV land cost
Property developer Encorp Bhd will receive A$6 million (RM18.7mil) under its joint venture project with Tew Investment Pty Ltd, which will help the company recover its land cost in Perth. Encorp had paid A$6 million for the 1.1ha land in May 2012, to be jointly developed with Tew Investments into a commercial and residential project. (The Edge Markets)
Lafarge Malaysia acquires Holcim for RM325.5mil
Lafarge Malaysia Bhd has bought over Holcim (M) Sdn Bhd from PT Holcim Indonesia for RM325.5 million on Monday. The newly-combined entity of Lafarge and Holcim Malaysia will offer the most comprehensive network of facilities and solutions in Malaysia. Lafarge, which is a major player in the Malaysia construction industry, is now part of the LafargeHolcim Group, the largest materials company in the world. (The Star Online)
TH Properties JV to develop A$500mil residential in Sydney
TH Properties Sdn Bhd and its Australian joint venture partner, Piety Group, is developing a A$500mil residential development, ONE The Waterfront, at Wentworth Point, located about 13km from Syney’s central business district. Construction is set to start in April 2016, with over 650 apartment units built in three phases on a 2.56ha site. The first phase will comprise 273 units in five blocks of four to nine floors, schedueld to be completed in September 2017. The next phases may see blocks of up to 30 floors if approval is obtained. (The Star Online)
PJ Development MD retires
PJ Development Holdings Bhd (PJD) managing director Wong Chong Shee has retired effective Wednesday, Nov 18. Wong had joined the company’s board in 1993 and managing director since August 2013. The property construction group also announced on the same day its unaudited results for the quarter ended Sept 30, which recorded earnings of RM17.48mil on revenue of RM210.95mil. (The Star Online)
Sarawak makes English official language along with BM
Sarawak has adopted English as the official language of the state administration alongside Bahasa Malaysia, announced Chief Minister Tan Sri Adenan Satem yesterday. Official government correspondence can be in both languages, which was a practical and logical step. He said the use of English is necessary and unavoidable, pointing out that it is the language of science. The move follows recent reports claiming that local graduates found it hard to gain employment due to poor command of English. The chief minister urged the state’s civil servants to be skillful in English, as it is a universal language and used as a communication tool across the globe. (Malay Mail Online)
Over 200 taxi drivers stage protest against SPAD, Grabcar, Uber
Over 200 taxi drivers had staged a protest at Padang Merbok yesterday afternoon to express their dissatisfaction at the government and Land Public Transport Commission (SPAD) for allowing ride-sharing services Grabcar and Uber to operate. Holding up banners and signs that read “Haramkan Grabcar, Haramkan Uber (Ban Grabcar, Ban Uber)” the protesters called on the prime minister to intervene as they were losing business to these services. The number of protesters swelled to around 500 an hour into the rally and they began marching towards Parliament to hand over their memorandum, but were stopped by police officers. Opposition lawmakers had addressed the crowd and said that the taxi drivers’ memorandum would be brought to the Dewan Rakyat. (The Malay Mail Online)
Taxi drivers hold placards in a protest against Uber and Grabcar at Padang Merbok in Kuala Lumpur, November 18, 2015. ― Picture by Yusof Mat Isa/Malay Mila Online
