Age of Malaysia’s population will create demand for housing
Malaysia has tremendous potentials, one being the age of its population which will create great forward demand for housing and others, said real estate consultancy firm Orkney Holdings Sdn Bhd. However, due to the technological changes in Malaysia, the assets that were being built would need to be rethought. The nation’s real estate outlook is patchy as there are certain parts of the country that are going to do well. The key thing is for the local developers to grab the opportunities from the high-speed rail and the East-West Link created by the initiative. (Astro Awani)

OBOR set to transform Malaysia’s real estate market over long term
China’s One Belt One Road (Obor) initiative is expected to have a transformative effect on Malaysian real estate over the long term. There will be opportunities for property development and services at nodes as well as industrial and logistics opportunities at international hubs, as well as Chinese and regional demand for Malaysian-based services over the long term. However, new skill sets will be needed to take advantage of these opportunities. These include specialised operational skills, service management capability and an asset management mindset. (The Sun Daily)

PR1MA’s real estate value on Malay reserve land surges 10 times
The real estate value of the PR1MA projects built on the Malay reserve land has risen more than 10 times from RM1.2bil to RM13bil over the years, said PR1MA Corp CEO Datuk Abdul Mutalib Alias. He said the surge in the real estate value on its completion involved 61 PR1MA projects comprising 53,062 housing units nationwide. “This will not only increase its value but also create and stimulate economic activities, hence contributing towards empowering the Bumiputra agenda,” he said. (The Star Online)

KAPB launches real estate private equity firm
Hartanah AP Rakyat Bhd (HAPRB), a newly established real estate private equity firm led by Koperasi Amanah Pelaburan Bhd (KAPB) chairman Datuk Ilyas Mohamed and a team of real estate experts, was launched on Wednesday. The firm aims to grow its current global investment market in the best interest of its members and the local targeted community as a whole. The venture is expected to meet the gaps that exist between financial institutions and individuals, as property owners may face difficulties liquidating their assets on hand, while developers appear to face challenges in selling their projects. HAPRB stated that it is backed by “solid and substantial funds” which allow purchasing of properties with readily accessible cash. (The Star Online)

Sunway acquires land in Wangsa Maju for RM51mil
Sunway Bhd is jointly acquiring a 4.34-acre (1.76ha) piece of freehold land in Wangsa Maju for RM51.07 million to undertake a mixed development project. The acquistion was made by Sunglobal Resources Sdn Bhd, in which Sunway owns a 55% stake with the other 45% held by Huatland Development Sdn Bhd. The development, comprising two blocks of serviced apartments with some lifestyle units on the podium, is expected to be completed over a five-year period, and will have a GDV of RM500 million. (The Edge Markets)

Yayasan Pahang, OCR team up for mixed development project in Mukim Penor
Groundbreaking works for more than a thousand affordable houses will begin in three weeks’ time in the first phase of the Priya Scheme Development at Mukim Penor, Kuantan. The project will comprise 979 units of terrace houses, 130 units of semi-detached houses, and 41 shoplots, all priced below RM180,000. The mixed development project of commercial development and affordable housing scheme, expected to be completed in two years’ time, is a 50:50 joint-venture agreement between Yayasan Pahang and O&C Properties (Kuantan) Sdn Bhd (OCPK), a subsidiary of O&C Resources Berhad (OCR). The estimated RM166mil project is located within 40ha of land in Mukim Penor, about 20km away from Kuantan town centre. (The Star Online)

Seacera subsidiary bags RM250mil PR1MA deal in Rembau
Seacera Group Bhd’s 80%-owned subsidiary Spaz Sdn Bhd has won a RM250 million contract to build PR1MA homes in Rembau, Negeri Sembilan. The contract involves the construction of 1,572 single- and double-storey terrace homes as well as basic amenities. The completion period is 30 months, and is expected to contribute positively to the company’s FY18 earnings. (The Edge Markets)

Ministry: RM333mil allocated for housing for the poor this year
A total of RM333.1 million was allocated for the implementation of the Hardcore Poor Housing Programme (PPRT) nationwide this year, according to the rural and regional development ministry. The ministry said 12,898 houses were involved, comprising 1,674 new units built, and 11,224 renovated units. (Malay Mail Online)

Langkawi International Airport (Photo from Langkawi-Info)

Langkawi airport expansion project to be completed by Aug 2018
The RM89 million Langkawi International Airport (LIA) expansion project will begin this September and is expected to be completed by August next year. The project, which has two phases, will be carried out in 10 months by Malaysia Airport Holdings Bhd (MAHB). The first phase involving the expansion of the parking area will begin next month while the second phase will begin by Oct 15. At the moment Langkawi has two international flights connecting the island with Singapore and Guangzhou in China. (NST Online)