New JDT stadium to be completed in July next year
The new Sultan Ibrahim Larkin Stadium in Iskandar Puteri will only be ready in July next year. The construction of the new home ground of the Johor Darul Ta’zim (JDT) football team is delayed by six months due to a few adjustments in the stadium’s design. It was originally slated for completion in January 2018. The stadium will accommodate 35,000 to 40,000 fans with an administrative office, cafe and a megastore. (The Star Online)
Sunway bags low-carbon city award
Sunway Property has won the prestigious Low Carbon City Award at the 9th Malaysian Institute of Planners (MIP) Awards for Planning Excellence. The award recognises projects that implement low-carbon city initiatives promoted within the Government’s Low Carbon Cities Framework (LCCF), which aims to highlight how they help reduce green house gas emissions. Sunway City was named the sole winner out of four submissions received for the category. It is Sunway Group’s first integrated township, and is 40% green, with more than 150 species of flora and fauna. It is 100% walkable through a canopied walkway and pedestrian walkways, and is a transit-oriented development enabled by Malaysia’s first elevated Bus Rapid Transit (BRT). (The Star Online)
Promising outlook for construction in 2017
The construction sector outlook for 2017 looks promising, particularly for infrastructure construction players due to the slew of government projects. Ongoing projects like the Mass Rapid Transit 2 (MRT2), Tun Razak Exchange (TRX) and Petronas’ Refinery and Petrochemical Integrated Development (Rapid) project site in Pengerang will largely contribute to the order books of infrastructure construction players for the year. Moving forward, there are also the upcoming Pan Borneo Highway and High Speed Rail (HSR) projects which are set to benefit developers. (The Star Online)
Jag to diversify into property development
Electronic waste-recycling company Jag Bhd is planning to venture into property development and property investment to diversify its revenue sources and earnings, as well as to reduce reliance on its recycling business. Its subsidiary Jag Land Sdn Bhd has submitted a development order to the local council, for a proposed mixed development on its land in Klang, Selangor, comprising shop offices, office suites and residential apartments. The proposed project has an estimated GDV of RM155million to RM170 million. The group is also in the midst of exploring, discussing and negotiating with other parties for Jag Land to acquire more lands and/or to undertake other property development projects via joint ventures. (The Sun Daily)
Regal International signs RM90mil offtake deal with Angkasa
Singapore property developer Regal International Group has signed an offtake deal with Malaysia’s Myangkasa Bina Sdn Bhd (Angkasa) for the purchase of residential units in Regal’s project in Negeri Sembilan. The en bloc sale is estimated to be about RM90 million. Angkasa has agreed to buy all 276 homes in Regal’s Airtrollis project’s third phase. It will market and sell the homes and purchase all units that are unsold when the project is completed. The third phase of the Airtrollis project will begin construction in 2017 and is estimated to be completed in 2020. (Business Times)
Unexpected floods in Kelantan, over 5,000 evacuated
The Kelantan floods, especially in Rantau Panjang is unusual and unexpected, saidKelantan Federal Action Council. The government’s initial assessment from Dec 25 to 27 found the situation not alarming but the opposite has occurred. The massive flooding is said to be due to continuous heavy rain the last few days and made worse by the floods in Narathiwat, Thailand. The number of flood evacuees in Kelantan rose to 5,245 yesterday. Areas affected by the floods are Kuala Krai, Machang, Tanah Merah, Jeli, Pasir Mas and Pasir Puteh. (Astro Awani)
