Johor govt moots 30% quota for Malaysians in Forest City
The Johor state government has proposed to reserve 30% of properties in the Forest City project for Malaysians, amid concerns of mainland Chinese immigrating to the state. Johor housing and rural development committee chairman Dzulkefly Ahmad stressed that the proposed quota was based on initial findings and not yet finalised. The committee, which will be tasked to look into the issue of foreign ownership related to the project, has yet to convene. He lauded the establishment of the special committee as certain guidelines and rules concerning the Forest City project can be made clear to the public. He explained that the present Pakatan Harapan (PH) state government did not view the Forest City project as having many issues as such foreign investment has benefited the state while creating job opportunities for locals. (Malay Mail Online)
Media Prima to sell four properties to PNB
Media Prima Bhd will dispose of one piece of land and three properties in Bangsar and Shah Alam, to PNB Development Sdn Bhd for a total cash consideration of RM280 million, resulting in a one-off net gain of about RM127.7 million. New Straits Times Press (M) Bhd (NSTP), a 98.2%-owned subsidiary of Media Prima, entered into three separate conditional sales and purchase agreements with PNB Development for the proposed sale of the properties. The four properties are two pieces of freehold land in Bangsar where its Balai Berita headquarters is located, a piece of freehold industrial land with buildings erected in Shah Alam where its printing plant is located, and another piece of freehold industrial land also in Shah Alam. (The Edge Markets)
Property developers to comply with Malacca Green Seal requirements
Malacca Green Technology Corporation (MGTC), in collaboration with the Malacca state government is aiming to make it compulsory for all property developers in the state to comply with the ‘Malacca Green Seal’ (MGS) requirements in all development projects. Under this initiative, all premises or buildings to be developed must obtain the green building certificate based on conditions set under MGS, in line with efforts to make Malacca a Green Technology Urban State by the year 2020, starting with the Hang Tuah Jaya Green Town in Ayer Keroh, Malacca World Solar Valley in Alor Gajah, state and federal government buildings. (The Sun Daily)
Selangor Dredging shifts focus to Singapore with RM1.5bil property launches
Selangor Dredging Bhd will shift its focus to the Singapore property market due to an oversupply in the Malaysian residential real estate segment. The property developer plans to launch three Singapore property projects worth about S$500 million (about RM1.5 billion) via joint ventures. In October, the company plans to launch a GDV S$170mil project at Serangoon, followed by another S$170mil project at Orchard Road. Next year, it will launch another project in Serangoon with GDV S$160mil. (The Edge Markets)
Titiwangsa Lake closed for one year for upgrade works
Kuala Lumpur’s Titiwangsa Lake will be closed off to the public for one year from Sept 1 to make way for upgrade works as part of the city’s River of Life project. According to Kuala Lumpur City Hall (DBKL), the popular park had begun closing in stages since May 14 this year. The closure is to allow upgrading works on facilities for the convenience and comfort of visitors in the future. As of Sept 1, Titiwangsa Lake will be completely closed off to the public except a for a jogging path. However, the closure will not affect three facilities along Jalan Temerloh, which are Restoran D’Saji Titiwangsa, DBKL Enforcement Training Centre and the Kuala Lumpur Horse Riding Centre. The park is expected to be reopened in Nov 2019. (The Star Online)
Tasik Titiwangsa, one of Kuala Lumpur’s most popular public park areas, will be closed for a year for upgrading works. – AZMAN GHANI/The Star
