Rehda: Govt should allocate land near MRT stations for affordable homes
The Real Estate and Housing Developers’ Association Malaysia (Rehda) is suggesting that the government consider allocating 50% of the land near MRT stations for affordable homes, which could be built by private developers if they were instructed to do so. Ironically, when an open tender for a housing project either above or next to the MRT station was called, the highest qualified bidder would be selected, making it impossible to build affordable houses near the MRT. Meanwhile, PR1MA has identified 8 locations near MRT stations or lines for PR1MA projects, including areas such as Desa Pandan, Pandan Indah, Cempaka, Titiwangsa, Sentul and Kinrara, which is hoped to be announced next year. (The Sun Daily)
BHS Industries, Chinese firm to develop RM2bil Green Technology Park
BHS Industries Bhd, which is in the printing and publishing business, is eyeing a partnership with China Nuclear Industry Huaxing Construction Co Ltd (HXCC) to develop the RM2bil Green Technology Park (GTP) in Pekan, Pahang, as well as the park’s biomass/solar power generation station. Both parties had signed a MoU to create a special-purpose vehicle to construct and manage Phase 2 & 3 of GTP, as well as its power station and other auxiliary facilities. The GTP is a park whose main industries used green technology to convert oil palm empty fruit bunches (EFB) into pulp and paper, box liner paper, corrugated paper and tissue paper. (The Star Online)
Developers expecting slow take-up as market softens
Property developers are expecting to see a slow-take up in their offerings as the industry slows, with banks becoming more stringent in giving out loans and local buyers remaining cautious. “The overpriced property market has been aggravated by shrinking disposable incomes due to a cut in subsidies and the rise in living costs, which have somewhat muted the buying of properties,” said VCB Capital CEO and executive director Mohammad Amir Mokhtar. House designs that do not appeal to buyers and do not meet their expectations would contribute to slow sales of new launches. (New Straits Times Online)
(Photo from China.org.cn)
China’s industrial zone giant keen to develop industry cities in Malaysia
China Fortune Land Development Co. Ltd. (CFLD), an expert in the investment and operation of industrial zones, has indicated interest to develop industry cities in Malaysia. The China-based group has built and manages 35 industrial cities from the ground up, and provides all aspects of public and private services, including roads, hospitals and schools, as well as hotels, factories and shopping centres. According to a company statement, CFLD is keen to expand its footprint in the Southeast Asian region and set up its international headquarters in Singapore in June 2016. It will open a Malaysian branch later this month. (New Straits Times Online)
Home loan help for low-income group
Outstanding PTPTN loans are hampering the loan application of those buying Rumah Selangorku houses under the Bumiputra quota, which is between 30% and 70% depending on area. Selangor Housing Committee chairman Datuk Iskandar Abdul Samad said that those buyers were finding it difficult to get their housing loan applications approved by banks. The state government is working with banks and developers to get these buyers the loans, and it was also buying some units to be rented out. High bank interest is not the issue; it is their existing loans that have not been settled yet, therefore the state plans to create a Smart-Rent Scheme to help those in the middle-income group to rent and later purchase a house in Selangor. (The Star Online)
Seacera aborts RM220mil Semenyih land deal
Seacera Group Bhd has cancelled its plan to acquire Duta Nilai Holdings Sdn Bhd for RM220 million, which owns a 250-acre piece of land in Semenyih, Selangor. The deal was mutually terminated after due consideration, but no details were provided. However, Seacera does not discount the possibility of entering into future negotations at a later date. The land is strategically located, being near the Kuala Lumpur city centre and surrounded by current developments from established property developers. (The Edge Markets)
Pesona bags RM488mil i-City mall contract
Pesona Metro Holdings Bhd’s unit Pesona Metro Sdn Bhd has clinched a RM488 million contract from Central Plaza I-City Real Estate Sdn Bhd for the main building works of the proposed shopping complex, known as Central Plaza@i-City. Works for the proposed shopping complex, which is located at Section 7 Shah Alam, will begin today and estimated to complete in 20 months. (The Sun Daily)
