World’s first Monopoly-themed hotel lands in Bukit Bintang
Malaysians will now be able to further enjoy the board game in the world’s first Monopoly-themed hotel set to open next year in Bukit Bintang. Called the Monopoly Mansion by Sirocco, the 255-room hotel will be situated at the M101 Bukit Bintang development owned by M101 Holdings Sdn Bhd. The development is a partnership venture between M101 and multinational toymaker Hasbro. The hotel will feature 1920s Art Deco design and architecture for its thematic facilities, bar and restaurant, reminiscent of the popular board game’s origins. (Malay Mail Online)

UEM Sunrise plans for next Mont Kiara
Property developer UEM Sunrise Bhd is set to launch projects worth RM1 billion in GDV this year, with plans for a new township similar to its Mont Kiara development to be located within the central region. The RM12 billion GDV project, which will take about 15 years to complete, will be a mixed development comprising residential, office and retail components. The first component of the project could potentially be launched within this year, with an estimated GDV of RM205 million. Its other launches in the pipeline include Kiara Kasih apartments, MK27 high-rise development, and two-storey terrace houses at Serene Heights. (The Edge Markets)

Guocoland unveils Emerald Hills, targets 50% take-up rate for Phase 1 by year end
After a hiatus, GuocoLand (M) Bhd is gearing up for more launches this year, starting with Emerald Hills @ Alam Damai, Cheras, and targeting a 50% take-up rate for its first phase by year-end, which will comprise two blocks of lakefront condominiums. There will be a soft launch for the first phase by end-March, while the terraced homes will be launch by year-end. Emerald Hills spans across 47.4-acre of freehold land, and boasts an estimated GDV of RM963 million. The development will comprise 1,378 condominium units in four blocks and 181 terraced homes in total. The developer is also looking to launch Emerald 9 Cheras and Emerald Rawang this year. (The Edge Markets)

Emerald Hills at Alam Damai

Allocate 5% of projects for the poor, Perak tells developers
The Perak state government has urged developers in the state to allocate 5% of their projects for the poor as a gesture of goodwill, says Mentri Besar Datuk Seri Zambry Abd Kadir. “For instance for every 100 units built by them, they just allocate five units for the poor,” he said. Private developers should give priority to the poor especially the handicapped and single mothers. “This is not a demand but a request as the prices of properties at some areas are beyond the reach of the poor,” he added. (Malay Mail Online)

Ministry to review People’s Housing Transit Home Policy
The Ministry of Urban Wellbeing, Housing and Local Government (KPKT) will review the People’s Housing Project (PPR) Transit Home policy to enable tenants to buy their units through a rent-to-own scheme. This was because several PPR units were left without proper maintenance and management as the tenants do not have a sense of belonging to the units. Tenants can buy units at the PPR Harmoni Transit Homes at RM35,000 each, through a rent-and own scheme. At present, the tenants are paying a monthly rent of RM90. (Malay Mail Online)

Ewein registers losses in Q4 due to property development division
Ewein Bhd fell into the red in the fourth quarter ended December 31,2017 with a net loss of RM1.32 million, compared with a net profit of RM1.28 million a year ago, due to losses from its property development division. Revenue for the quarter under review grew by 127.52% to RM17.48 million, with higher contribution mainly from its manufacturing segment. It is cautiously optimistic sentiment on the property development segment on the back of improving market conditions while maintaining that its new investment in the e-commerce segment is consistent with its strategy to generate diversified sources of revenue from different sectors. (The Sun Daily)

Boustead Holdings FY17 earnings boosted from land sale
Boustead Holdings Bhd’s earnings rose to RM462mil in the financial year ended Dec 31, 2017, underpinned by gains realised from the sale of its plantation land and stronger plantation contribution. Earnings were up 25.2% while revenue increased 19.7% to RM10.02bil. This improved performance was driven by gains realised on disposal of plantation lands, amounting to a total of RM555mil. For the property division. Its profit was lower at RM54mil as it was impacted by start-up costs for MyTOWN Shopping Centre and reduced earnings from property development activities in Taman Mutiara Rini, Johor. (The Star Online)

Over-development can create ‘slums’, say KL resident group
Property oversupply in the city centre can lead to lower property value and modern slums if borrowers default on their mortgages and are forced to lower rentals, claimed Selamatkan Kuala Lumpur (SKL), a coalition of KL residents. It said sustainable development was essential in maintaining a balance between social and economic growth. In their call for the Kuala Lumpur City Hall (DBKL) to gazette the KL City Plan 2020 (KLCP2020) draft, SKL said that as property owners are forced to accept low lease rentals, rhis will diminish property values and create ‘modern slums’. For Malaysia to be called a developed nation and its capital Kuala Lumpur as a world class city, it must have a Local Plan which uses international city planning as its framework, it added. (Malay Mail Online)

Photo from The Star