Singapore’s GSH launches RM1.1bil luxury condo in KL
Singapore-listed property developer GSH Corp Ltd has launched its first residential project in Malaysia, a 632-unit luxury condominium worth RM1.1 billion. Its CEO Gilbert Ee said 150 out of 200 units released during VIP previews and private viewing sessions have already been booked. The 52-storey Eaton Residence, located on a 1.42 acre leasehold land on Jalan Kia Peng, is being developed by GSH’s wholly-owned subsidiary, City View Ventures Son Bhd. Units are priced from RM1.14mil to RM4.19mil, with expected completion set for December 2020. The project features the first longest and highest cantilevered sky pool in Kuala Lumpur, as well as a full-glass façade. The company is planning to launch two ocean-fronting residential projects in Kota Kinabalu. (The Edge Markets)

I-Bhd partners with Huawei to develop Smart City and IoT
Property developer I-Bhd has partnered with global tech giant Huawei to develop its Smart City and Internet of Things (IoT)-ready home concept. “Our Converse @i-City, a high-end residential targeted to be launched by early 2017, will showcase the next phase of i-City’s Smart City concept and the units will be IoT-ready,” said I-Bhd deputy chairman Eu Hong Chew. Eu said that the technology scene was expected to evolve in the next few years and it was pertinent for its infrastructure to be relevant and future-proof. i-City’s strategic partnership with Huawei will focus on upgrading its connectivity infrastructure. It would also feature a common smart city platform for solutions such as street lignting, traffic management and parking, in line with i-City’s role in providing township services. (The Star Online)

No shortage of affordable homes, says Glomac
According to Glomac Bhd, there is no shortage of affordable homes in the country, with the only issue being end-financing. Obtaining a loan is still the main concern as house buyers are faced with end-financing rejection and lower margin loans offered by financial institutions. These claims are directly contradictory to Bank Negara’s statement which said that affordability and shortage was the fundamental issue in the property market. “In certain locations, there is a mismatch of supply and demand for affordable homes but there is no shortage of the supply of affordable homes anywhere,” said Glomac managing director and CEO Datuk Seri Fateh Iskandar, who is also the Real Estate and Housing Developers’ Association Malaysia (Rehda) president. (The Sun Daily)

Housing tribunal settles 99% of buyer claims cases
A total of 40,536 cases or 99 per cent of the 40,923 cases referred to the Tribunal for Homebuyer Claims (Housing Tribunal) were settled between Jan 1, 2003 and July 31, this year. Urban Wellbeing, Housing and Local Government Minister Tan Sri Noh Omar said there was greater awareness among consumers as the number of cases filed had increased at as June this year, which showed the ministry’s efforts to promote the rights of homebuyers was effective. The Housing Tribunal was established on Dec 1, 2002 as an alternative to hear housing claims not exceeding RM50,000 between buyers and licensed housing developers. (The Borneo Post)

KWAP eyeing more alternative assets
Retirement Fund Inc (KWAP) is looking to revise its asset allocation strategy by year-end to improve its ROI. Its current ratio of 90:10 comprises 90% traditional asset classes like fixed income and equity, and 10% alternative assets such as private equity (PE), real estate and infrastructure. It is looking at a ratio of 85:15, with bigger allocation for alternative assets which offer better returns. Currently, the retirement fund’s PE investments are in sectors such as consumer goods, logistics, education, healthcare and technology. (New Straits Times Online)

Harry Potter’s Privet Drive home for sale, complete with cupboard under the stairs
An ordinary suburban house that starred onscreen as Harry Potter’s childhood home is on the market, complete with a cupboard under the stairs where the boy wizard is forced to sleep in. Fans of the fictional boy wizard will recognise 12 Picket Post Close as 4 Privet Drive, home of Harry’s dastardly aunt and uncle, the Dursleys. Real estate agency Chancellors says the three-bedroom house “has recently undergone complete renovation to an extremely high standard.” It’s listed at a price of £475,000. The house still attracts Potter fans a decade-and-a-half after the film crews left. (New Straits Times Online)