More than 70% willing to pay RM750,000 for a home
A study by Rehda on home buyers showed 73% did not mind paying between RM300,000 and RM750,000 for a residential property, including condominiums and houses. The survey also revealed that almost 43% of respondents had a household income of below RM5,000, and 38% are first-time buyers looking to buy a property for own stay. KLCC, Petaling Jaya, Damansara and Bangsar were among the top locations respondents were looking at. Most buyers were willing to pay above the affordable housing price of RM300,000 while 44% noted that train accessibility is an important factor in the criteria of buying a house. The survey also found that 34% want easier access to housing scheme, 28% want lower interest rate on housing loans, and 24% hope for a special programme from the government, such as a grant. (Malay Mail Online)
Malaysia most active M&A country in SEA for 1Q
Malaysia took the top spot as Southeast Asia’s most active country in terms of the number of merger and acquisition (M&A) deals in the first quarter of 2017, with a total of 26 deals worth US$1.9 billion (RM8.36 billion), according to Mergermarket. However, Thailand took the largest deal value with US$2 billion for 12 deals, surpassing Singapore with 19 deals worth US$1bil. (The Edge Markets)
MRCB set to launch Tria condominium at 9 Seputeh
Malaysian Resources Corp Bhd (MRCB) aims to launch Tria, the second phase of its 9 Seputeh project, next month. The five-acre Tria project will feature three towers with 734 condominium units with built-up sizes ranging between 1,500 sq ft and 2,000 sq ft. The selling price has yet to be finalised, but is expected to be about 5-10% higher than Vivo (phase 1). Vivo and Tria form part of the 17.3-acre, RM2.1bil GDV 9 Seputeh mixed development located at Jalan Klang Lama, Kuala Lumpur, which comprises high-rise residences and retail units. (The Edge Markets)
Growing population spurs demand in Iskandar Malaysia
There is still huge demand for new housing units in Iskandar Malaysia as the population in the growth corridor continues to increase. The Iskandar Regional Development Authority (Irda) has estimated that the population there will increase to 3 million by 2025 and will require at least 1.2 million housing units. The population in Iskandar Malaysia is now 1.8 million but there are less than 700,000 housing units. Many people are migrating to Iskandar Malaysia from other parts of the country and the world, and developers are urged to provide houses within the right price bracket to meet buyers’ demand. (New Straits Times Online)
The Summit Hotel Bukit Mertajam (Photo from Tripadvisor)
Meda Inc to sell The Summit Hotel Bukit Mertajam for RM20mil
Meda Inc Bhd is disposing of its hotel The Summit Hotel Bukit Mertajam in Penang for RM20 million to Teraju Menang Sdn Bhd. The proposed disposal will result in the group realising a gain of RM6.05 million. The proceeds will be used to fund its working capital and operating expenses. Meda Inc said the move is to dispose of low-revenue generating asset and to monetise its investment in ZKP and to reinvest the capital into the group’s core business activity, which is property development. (The Edge Markets)
5,500 PR1MA housing to be built in Perlis
A total of 5,500 units of 1Malaysia People’s Housing (PR1MA) will be built to meet the housing needs of people in Perlis. The houses under the PR1MA project, as well as four others approved by the state government, were among 10,000 houses comprising affordable homes, medium and low cost homes promised by the government for the people. PR1MA projects in Perlis are located in Kuala Perlis, Kangar, Kubang Gajah, and Padang Siding. (Malay Mail Online)
[SG] Guocoland to launch luxury condominium Martin Modern in 2H17
Property developer GuocoLand is targeting to launch its latest luxury residential condominium project, Martin Modern, in the second half of 2017. The 450-unit property will be located in District 9 at the corner of Martin Place and River Valley Close, within the neighbourhood of Robertson Quay. Each unit will come with a view of the gardens, the city, or the Singapore River. The project pricing is expected to be announced during the official launch. (The Edge Markets Singapore)
JJPTR investors may lose RM500mil
Tens of thousands of investors from all over the world, including Canada, the United States and China, stand to lose RM500mil with the reported collapse of JJPTR, said to be one Malaysia’s biggest money game operators. Members of JJPTR were asked to invest between US$25 and US$1,000 (RM110 and RM4,400) and promised a monthly return of 20%. The company made headlines in major Chinese newspapers last week when it was reported the company had been hacked and subsequently lost RM500mil. JJPTR and its associate companies have been on Bank Negara’s Financial Consumer Alert list since Feb 24, but police said no reports had been lodged against them so far. (The Star Online)
