Penang eyes July approval for LRT; project to begin next year
Penang hopes to secure a conditional approval for its first railway scheme connecting Bayan Lepas to Komtar by next month, state executive councillor Chow Kon Yeow said. A July approval for the proposed Bayan Lepas Light Rail Transit (LRT) would allow the state to proceed with a three-month public inspection beginning August, to allow public feedback. The Bayan Lepas LRT project, along with the pan island highway link and the reclamation of two islands off southern Penang, are part of the first phase of the Penang Transport Master Plan (PTMP) implementation. SRS Consortium is the project delivery partner (PDP) for the PTMP. The state hopes to begin construction on the Bayan Lepas line by next year, with operations for the first phase starting by 2023 and fully operational by 2030. (The Malay Mail Online)
BBCC project to begin construction in September
The iconic Bukit Bintang City Centre (BBCC) development in Kuala Lumpur, located on the site of the old Pudu prison, is expected to begin construction in September, said UDA Holdings Bhd chairman Datuk Mohd Shafei Abdullah. The project will be developed in stages, and the first phase is estimated to complete within 4 years. Phase one of BBCC has a GDV of RM4.7 billion, and comprise a hotel, “people’s bazaar”, offices, condominium, Mitsui Shopping Centre, 2.43-hectare park and concert hall. The BBCC project is undertaken by a consortium made up of Eco World Development Group Bhd and UDA Holdings, each holding a 40% stake, as well as the Employees Provident Fund (EPF) owning the remaining 20%. (Bernama)
Perak govt wants Sunway to return undeveloped Ipoh land
The Perak state government, which is a partner in the Sunway City Ipoh development, has asked Sunway Bhd to return the undeveloped portion of the land in their joint development agreement. However, Sunway wants the matter to be brought to court. Sunway City (Ipoh) Sdn Bhd (SCI), which is 95.96% owned by Sunway’s unit Sunway City Sdn Bhd, is jointly developing Sunway City Ipoh with the Perak state government and Yayasan Perak, with SCI holding a 65% stake. The development sits on 1,346 acres, of which only 700 acres were net land for development, and includes the RM60mil Lost World of Tambun theme park attraction, which is a major draw for the integrated township project. (The Star Online)
The Lost World of Tambun theme park is one of the main attractions of Sunway City Ipoh (Photo from Sunway Iskandar)
HDC to build 241 units of affordable houses
The Housing Development Corporation Ltd (HDC) is planning to build 241 units of single storey affordable houses in Kuala Baram, Miri. Assistant Minister for Housing Abdul Karim Rahman Hamzah said the plan is to launch the project next year. 505 units of low cost houses have already been completed in Lambir earlier this year and distributed to eligible applicants soon. The criteria for affordable housing applicants are: applicants must be Malaysians and residents of Sarawak, gross household income (husband and wife) below RM3,000, and married, including widow, widower and single mother. Leeway would be given to applicants who are bachelors, aged 30 years and above, and did not have any property. (Borneo Post Online)
UDA Holdings to build retirement home in Melaka
Property developer UDA Holdings Bhd plans to build a high-end retirement home on a 5.26-hectare site in Melaka starting next year. Chairman Datuk Mohd Shafei Abdullah said the retirement home would be equipped with facilities such as a hospital, a place of worship and a farm. He said the Melaka government has agreed in principle on the project and the company is awaiting the signing of the document. (Bernama)
Crest Builder bags RM438mil KL East contract
Crest Builder Holdings Bhd has won a RM438.3 million contract to build residential and commercial buildings at Sime Darby Property’s KL East development in Setapak. The company has managed to achieve almost 90% of its target to refill its construction order book. The job at the mixed development project involves superstructure works for two 37-storey towers of serviced apartments, a six-storey carpark podium, a recreational floor, four storeys of commercial development and a basement parking level. The project is estimated to take 30 months from site possession to complete, with completed targeted by the first quarter of 2019. (The Star Online)
LTKM buys 2.58ha lands for RM58.4mil to increase land bank
Poultry player cum property developer LTKM Bhd is buying four adjoining leasehold lands in Seri Kembangan, Selangor with a combined size of 2.58ha, for RM58.4 million cash, to stock up its land bank. Its wholly-owned subsidiaries had entered four different SPAs for the proposed acquisitions. Two parcels of land are owned by CN Asia Corp Bhd’s subsidiaries and collectively worth RM36.68 million; the third parcel owned by Crystal Bond Sdn Bhd is priced at RM10.76 million, while the final parcel owned by Marvellous Production Sdn Bhd, is being purchased at RM10.96 million. The group said these lands are strategically located in the Balakong township, in close proximity to a major shopping mall, five-star hotels, corporate offices, a medical centre, and an international school. (The Edge Markets)
