National Housing Policy 2.0 will be ready soon, says minister
The National Housing Policy (DRN) 2.0 for the period 2018-2022, is currently in the final phase of preparation. Urban Wellbeing, Housing and Local Government Minister Tan Sri Noh Omar said DRN 2.0 was the continuation of the existing DRN for the period 2013-2017. “DRN 2.0 is formulated comprehensively with regard to improvements, including new housing industry challenges such as the provision of transit homes for the M40 youth category, design and regulation of the latest housing prices,” he said. Meanwhile, the ministry was also in the final stage of the development of the Housing Data Bank System portal, expected to be accessible from next year. Through the portal, the public could see stocks and sales of houses under the Bumiputera quota housing units available in the current property market. (Malay Mail Online)
MIDF positive on property sector outlook next year
There were more interest in property purchases for the first 10 months of this year compared to 2016 based on the latest Bank Negara statistics, said MIDF Research. it is maintaining a positive stance on the property sector based on loan statistic from Bank Negara and a stable House Price Index outlook from NAPIC. It also viewed certain property counters with Klang Valley projects positively. Total applied and approved loans for property purchases grew year-on-year, a good leading indicator that property sales as a whole should improve compared to last year. (The Star Online)
UEM Sunrise buys Seri Kembangan land to develop RM700mil project
UEM Sunrise Bhd is acquiring 19.24 acres of land in Taman Equine, Seri Kembangan for RM109.5 million for a project worth over RM700 million GDV. its wholly owned subsidiary Sunrise Alliance Sdn Bhd had inked a sale and purchase agreement with Kemaris Residences Sdn Bhd for the acquisition. Targeting at upper-mid market purchasers, the development order has been approved for the land comprising 924 residential units. (The Sun Daily)
LBS launches first property gallery in M3 Mall Gombak
LBS Bina Group Bhd has launched its LBS Property Gallery at M3 Mall in Gombak, Selangor. The launch marks the group’s first property gallery launched in a retail space and the group’s first foray into retail management. The group acquired M3 Mall in September. “We chose M3 Mall as the location for our property gallery because it represents one crucial element: convenience for our buyers. In this way, LBS is moving closer to our customers, and making our offerings more accessible,” said LBS Bina Group managing director Tan Sri Lim Hock San. (The Star Online)
Photo from The Star
Hatten Land aiming for rapid growth
Singapore-listed Hatten Land Ltd – one of the largest property developers in Melaka – is aiming for rapid growth in the coming years, aided by mergers and acquisitions as well as land acquisition and possible asset injection. The management is striving to achieve a market capitalisation of S$350 million (RM1.06 billion), followed by S$1 billion in the next few years. It currently has a market capitalisation of S$258mil. Hatten Land, the property development arm of Hatten Group, is a property developer specialising in integrated residential, hotel and commercial developments. Its current portfolio comprises five integrated mixed-use developments and one retail mall in Melaka. (The Edge Markets)
Far East Group subsidiary to sell Selangor factory for RM11.5mil
Refrigeration and air-conditioning systems manufacturer Far East Group’s wholly-owned subsidiary Far East Maju Engineering Works has accepted a letter of offer to sell its factory property in Selangor, Malaysia for RM 11.5 million. Currently used as a warehouse, the property includes a single storey factory building, a double storey office building, and a piece of freehold industrial land spanning 4,485 sqm. The property has been vacant since December 2016, when its manufacturing operations in Malaysia were moved to China. (The Edge Markets)
Lebuh Kiara Recreational Park (Photo: The Star Archives)
TTDI residents seek court order to prevent irreversible harm to Taman Rimba Kiara
TTDI residents have sought a court order to temporarily freeze all actions for a condominium project in the Rimba Kiara park pending the end of a lawsuit to prevent the “irreversible” felling of trees. They stated that a stay order was necessary to “preserve the status quo” of the planned project site and to prevent the court challenge against the high-rise project from becoming an “academic exercise”. The project site was part of a 25-acre public park in TTDI called Taman Rimba Kiara that was meant to be a public open space and recreational area. (Malay Mail Online)
Singapore land supply for private housing in H1 2018 almost steady
Singapore kept the amount of land it plans to sell for private housing almost steady in the first half of 2018, as the government seeks to strike a balance between a potential future glut of residential units and current demand from developers. The market has been awaiting the Ministry of National Development’s (MND) biannual decision on government land sales (GLS) as hungry developers have been aggressively bidding for sites in public auctions and collective sales. The MND said it would release sites that could yield a total of 8,045 private residential units for the first half of next year, compared to 8,125 private residential units in 2H 2017. (Reuters)
