Titijaya partners China firm for RM2.1bil Embassy Row project
Titijaya land Bhd is partnering China’s CREC Development (M) Sdn Bhd (CRECD) for a mixed development project at Embassy Row, Jalan Ampang, Kuala Lumpur, with a GDV of RM2.1 billion. Titijaya’s wholly-owned subsidiary signed an agreement to acquire the entire stake in Ampang Avenue Development Sdn Bhd for RM80 million, which its subsidiary owns the 6.06ha Jalan Ampang leasehold land, which is currently valued at RM403 million. CRECD will be appointed the main contractor of the development project, known as 3rdNvenue. It will also monitor, manage and supervise the day-to-day construction operational related matters. The project will consist of SoHo units, serviced apartments and retail units, developed over the next seven years in four phases. (The Sun Daily)

Singapore gets record bid from Malaysia for Marina land
The first sale of land in Singapore’s Marina Bay in nine years has generated strong bidding from developers, with a plot attracting a top bid of S$2.6 billion (RM7.94 billion). The offer price, equivalent to S$1,689 per square foot of gross floor area, is a record for a Singapore government land sale, surpassed a previous record in 2007 of S$1,409 per square foot for Asia Square Tower 1. According to Singapore’s Urban Redevelopment Authority, the highest offer came from Wealthy Link Pte, owned by IOI Properties Group Bhd, which priced the 1.1 hectare (2.7 acre) plot at S$18,180 per square meter of gross floor area. (Malay Mail Online)

Crime rate down 45% due to CCTVs
The installation of closed-circuit televisions (CCTV) in problem areas reduced crime rates there by 45% from 2010 to 2015, which is a result of the government’s transformation plan, said Urban Wellbeing, Housing and Local Government Minister Tan Sri Noh Omar. A total of 992 CCTVs have been installed in 45 local council districts nationwide. However, these areas do not include housing areas. He said the installation of the cameras were done based on the recommendations of the police on crime prone areas in the country. Residents in housing areas were advised to conduct their own patrols as well as adopt a similar approach to the Safecam system in Sarawak, which is a collaboration between the police and a private firm to tackle crime through surveillance. (Malay Mail Online)

Related article: Crime prevention through environmental design

Noh: Developers’ home financing scheme still on the table
The proposal on property developers offering financing to house buyers is still on the table, according to Urban Wellbeing, Housing and Local Government Minister Tan Sri Noh Omar. Despite criticism over the effectiveness of the scheme to help increase home ownership, the ministry wants to make sure that it will be a win-win situation between buyers and developers if it continues with the policy. Noh said the developers must follow and agree to the terms and conditions set under the new scheme. A total of 42 developers have moneylending licences currently. (The Sun Daily)

Amcorp Properties’ 2Q net profit plunges 89% to RM1.83mil
Amcorp Properties Bhd reported a net profit of RM1.83mil for 2QFY17, 88.9% lower from a year earlier. This was despite a 28.8% increase in revenue to RM52.97 million from the same period last year. Tts Malaysian property projects contributed RM33.6 million in revenue, and the renewable energy & contracting division contributed RM19.4 million. Revenue from the Malaysia properties was mainly derived from sale of development properties (RM30.9 million) and rental income from investment properties (RM2.7 million), it added. The renewable energy & contracting division revenue meanwhile came from ventilation and air conditioning contracts (RM15.7 million), coupled with power generation from both mini-hydro and solar projects (RM3.7 million). (The Edge Markets)

EPF to invest more in infrastructure
The Employees Provident Fund is ready to invest more funds in the infrastructure sector by setting aside 3% of its allocation for the segment. The EPF asset size currently stands at RM690 billion, of which 51% is fixed income, 36% equities and 10% alternative investment. Infrastructure, private equity and real estate investment is categorised under alternative investment by the EPF. (The Borneo Post)

RC to be imposed on foreign vehicles entering Malaysia via Thailand by end-2017
All foreign private registered vehicles entering Malaysia from the Thai border will be subjected to a road charge (RC) by end of next year, said Deputy Transport Minister Datuk Abdul Aziz Karpawi. The move to expand the RC to also foreign private registered vehicles entering the country from Thailand was part of efforts to enhance security and curb cross-border crime, especially clone car syndicates. This follows the implementation of RC on Nov 1 at the Causeway and Second Link. Abdul Aziz said the RC to be imposed on foreign private registered vehicles entering the country from Thailand would also be RM20. (Astro Awani)