Penang S-W district to see RM20bil worth of projects
The south-west district of Penang island is set to attract RM20 billion worth of new residential and commercial projects over the next 5 – 10 years. About RM13 billion worth of projects are new ones planned by Hunza Properties Bhd and Ideal Property Sdn Bhd, which are large-scale schemes expected to generate thousands of fresh job opportunities. Hunza Properties plans to develop the RM8bil Penang International Commercial City (PICC), a mixed development project comprising condominiums and serviced apartments, a shopping mall, retail outlets, hotels, a business process outsourcing (BPO) tower and a medical centre. Other projects are from IJM Land and Mah Sing Group. (The Star Online)
Central Spectrum to promote Pulau Indah on bigger scale in 2017
Industrial land developer Central Spectrum (M) Sdn Bhd (CSSB) is promoting the development of Pulau Indah on a bigger scale this year, supported by its Selangor Bio Bay (SBB) and Phase Three of the Pulau Indah Industrial Park (PIIP 3) projects. The Selangor Bio Bay, a 1,070-acre high-technology area, would act as a catalyst for high-quality property development in Pulau Indah besides elevating Selangor’s biotechnology industry. The SBB, spanning three precincts, has a 15-year development period with a total gross development value of RM4.3bil. Meanwhile, the gated and guarded PIIP 3 industrial park is in the midst of developing its last phase of 793-acre industrial land. (The Star Online)
PNB subsidiary acquires Mydin Mall Seremban 2 for RM240mil
Permodalan Nasional Bhd’s (PNB) wholly-owned unit, Pelaburan Hartanah Nasional Bhd (PHNB), has acquired Mydin Mall Seremban 2 for RM240 million through a sale and leaseback arrangement. The acquisition would increase Amanah Harta Tanah PNB (AHP) REIT’s total assets to RM483 million. The freehold property Mydin Mall located in Seremban 2 comprises a three-storey mall cum hypermarket and two sub-basements on 5.42 hectares. (Astro Awani)
Artist’s impression of The Greens condominium at Subang West
Crest confident of hitting RM500mil order book target
Construction and property developer Crest Builder Holdings Bhd is optimistic of achieving its construction order book target of RM500 million this year. “The group is constantly looking for opportunities to work with the government as well as the private sector to clinch more construction contracts,” said group managing director Eric Yong. Following the launch of The Greens, a freehold condominium project, Crest Builder plans to launch transit oriented development (TOD) projects in Dang Wangi in the second half of this year, as well as its joint venture project with the Malaysia Rubber Board in Jalan Ampang in the first half of 2018. (New Straits Times)
7,000 Kerian property owners owe RM4mil in assessment tax arrears
A total of 7,000 property owners in Kerian, Perak have yet to pay arrears on assessment tax totalling RM4 million from 1988 up to last year. Commercial building owners topped the list, with one case involving arrears of RM10,000, while some residential owners still owed between RM6,000 and RM7,000 per unit. The majority of those who have yet to pay the tax are the owners of properties in Bukit Merah Laketown and Beriah. The Kerian District Council (MDK) plans to auction any unoccupied property, be it residential or commercial, and properties with outstanding arrears, even after court orders were issued. (Malay Mail Online)
Good response to biodegradable plastic, paper bag switch
The mandatory switch to the use of biodegradable plastic and paper bags enforced on Jan 1 has received positive response. Some traders and hawkers have yet to fully comply to the ruling, but it is noted that the policy is still in transition before being fully enforced on Sept 1. From September onwards, errant traders and hawkers could be imposed a compound of up to the maximum RM2,000. The move was aimed at increasing public awareness of the health risk of non-degradable plastics and polystyrene, besides boosting the development of the biodegradable product industry. (Malay Mail Online)
75,000 PJ residents to receive free rubbish bins
MBPJ has distributed 400 rubbish bins to villagers at Kampung Cempaka Community Hall, and has promised to distribute more in other areas to keep Petaling Jaya clean. A total of 75,000 orange-coloured plastic rubbish bins with a capacity of 120 litres each, will be given to Petaling Jaya residents this year. The bins will only be distributed to owners of landed residential property. The scheme was expected to cost about RM7mil. (The Star Online)
A MBPJ staff preparing to distribute 400 plastic rubbish bins to villagers in Kampung Cempaka New Village. (Photo from The Star)
