Selangor aims for 446km of public transport coverage by 2035
The Selangor government’s transportation master plan is targeting to provide over 446km of public transport access across the state by 2035, which is expected to cost RM64 billion. The master plan will include a proposal for 316km of light rail transit (LRT), buss rapid transit (BRT), personal rapid transit (PRT), mass rapid transit (MRT) and a new KTM freight line. Key among the 12 proposals by the state government is the introduction of public transport “circle lines” in Petaling Jaya, which includes Malaysia’s first Personal Rapid Transit (PRT) within a small radius within the financial hub. (Malay Mail Online)
‘Congestion charges’ in city centre after MRT Line 1 begins operations
Kuala Lumpur City Hall (DBKL) will be implementing a congestion charging system in the city centre after the mass rapid transit (MRT) Line 1 commences operations. Vehicles that enter the city centre during certain times will have to pay a fee, similar to a system implemented in Singapore. It will be the last initiative to reduce congestion in the city, but DBKL is still looking into the details, and have yet to finalise the pricing. The policy is to discourage people from using private cars in the city centre to reduce traffic congestion. The first phase of MRT Line 1, between Sungai Buloh and Semantan, is scheduled to begin operations in December, while phase two will start in July 2017. (The Edge Markets)
Traffic jams are a daily occurrence in Kuala Lumpur (Photo from Hype.MY)
World Bank revises Malaysia GDP forecast
The World Bank has slashed its growth forecast for Malaysia from 2016 through 2018 due to the subdued global economy weighing on the country’s prospects. In its latest forecasts, the global financial institution predicted Malaysia’s gross domestic product (GDP) would slow to 4.2% this year from 5% in 2015 because of the weak global demand for oil and manufactured exports. This contrasted with its April forecast of a 4.4% growth for the country for 2016. According to the World Bank, Malaysia’s GDP growth would likely rebound to 4.3% next year before accelerating further to 4.5% in 2018. (The Star Online)
Ancubic to launch RM700mil project in Pantai Dalam
Boutique developer Ancubic Capital Sdn Bhd is planning to launch an apartment project worth RM700 million in Pantai Dalam end of next year. The company is confident that the timing is suitable, as the local property market is expected to pick up between end 2017 and early 2018. The 2-acre project site is situation in the heart of Pantai Dalam and targeted at young professionals living in the area. (The Edge Markets)
Matrix Concepts joins calls for housing goodies in Budget 2017
Matrix Concepts Holdings Bhd (MCHB) is the latest property developer to join the call for more incentives for first time buyers of affordable homes in the upcoming Budget 2017. Although the demand for affordable housing exceeds supply, difficulties in getting financing and unattractive locations have deterred many housebuyers from owning these homes. Other major property players, like Mah Sing and Eco World, have also called for the Government to relax lending approvals and provide more incentives for first time housebuyers. Real Estate and Housing Developers Association (Rehda) had called for easing in the end-financing regulations for property purchases. (The Star Online)
Artist’s impression of Melaka Gateway
Malaysia’s first Hyatt Place Hotel to open in 2019
Hyatt Hotels Corporation has announced plans to bring its Hyatt Place brand to Malaysia for the first time with a new hotel in Malacca, set to open in late 2019. The Hyatt Place Melaka Gateway will comprise some 200 rooms across 25 storeys and will include over 250 sqm of function space, a rooftop swimming pool and a poolside bar. It will be part of Melaka Gateway, a mixed-use project currently under development on the west coast of Malacca City, comprising three reclaimed islands and fully completed in 2025. Melaka Gateway will consist of office towers, residential space, hotels, shopping centres and a convention centre. Other attractions include a 100-metre-high Ferris wheel and a lighthouse, while access via sea will be available through a dedicated cruise terminal, which is claimed will be the largest in Asia. (Business Traveller)
Honda Malaysia opens largest 3S centre in Terengganu
A Honda dealership in Terengganu has opened the largest Honda 3S Centre in the state to provide services to their customers in the East Coast region. The service centre by Tan Eng Ann Sdn Bhd is a full-fledged 3S Centre with Sales, Services and Spare Parts operations under one roof. The new Honda 3S Centre has 18 service bays that can easily accommodate up to 80 vehicles per day. Comfortable customer lounge, executive lounge, complimentary Wi-Fi services, road tax renewal and insurance coverage, kids’ corner and surau are some of the facilities that customers can enjoy at the new Honda 3S Centre. The East Coast region accounted for 8% of Honda Malaysia’s total sales of 55,764 units from Jan to Aug 2016. (The Sun Daily)
