Malaysia tops best places in ASEAN to retire
Retirees looking to spend their twilight years in a safe, affordable and fantastic destination should consider Southeast Asia, according to a recent survey that gave locations in the Asean region 10 of the top 30 spots in its global ranking of best places to retire. The 2018 Overseas Retirement Index, published annually by Live and Invest Overseas (LIO), ranked Kuala Lumpur and Georgetown in Malaysia among its top 10 retirement spots, at 6th and 10th respectively. The ranking took into account issues such as cost of living, crime and safety, English spoken, entertainment, environmental conditions, and the local expat community. Other considerations were health care, infrastructure, real estate affordability, recreation, residency options, and taxes. Other places in Asean on the list included Chiang Mai, Thailand (13th), Kota Kinabalu, Sabah (18th), and Hua Hin, Thailand (19th). (AEC News Today)

FT Minister: DBKL to open tender on all land deals from now
All land deals involving Kuala Lumpur City Hall (DBKL) will be carried out through open tender, said Federal Territories Minister Khalid Abdul Samad. He said this was to avoid any transaction of land sale and purchase at dubious prices, when compared with the market price. Previously, such land deals were done through direct negotiation. Khalid recently revealed that RM149 million was recovered after the government renegotiated terms on 16 land parcels sold by DBKL during the previous administration, as well as able to get back 5.04 hectare of land valued at RM113.8 million. (Malay Mail Online)

Johor Sultan donating 60ha of land to build affordable housing
Johor’s Sultan Ibrahim Ibni Almarhum Sultan Iskandar will donate 60.7ha of his land to build affordable houses in the state. In a Facebook post on Friday, Johor Crown Prince Tunku Ismail Ibni Sultan Ibrahim said that he would conduct the ground-breaking ceremony for the project next week where about 1,000 units of affordable houses will be built with a starting price of RM70,000. He said Sultan Ibrahim also consented to have similar projects for the people on His Majesty’s land in every district within the state. (The Star Online)

Emkay group to build RM70,000 homes for B40
Tan Sri Mustapha Kamal plans to build affordable houses in the city centre priced at about RM70,000 each for the B40 group through his private company, Emkay Group. If it succeeds, Emkay Group will be the first from the private sector to build prices below RM100,000 in the city in Malaysia after many years. The founder and executive chairman of Emkay Mustapha said the houses are catered to those in the B40 group, especially those who are earning between RM1,800 and RM2,000. “The cost to build infrastructure will be much less because the availability of infrastructure such as road and electricity supply [in the city] saves cost, which can be passed on to consumers,” he said. Mustapha suggested property developers to team up with the federal government, state government and local councils in joint ventures or collaboration to materialise the idea of more affordable homes. (NST Online)

Property icon and IGB founder, Tan Chin Nam, dies
Property tycoon Datuk Tan Chin Nam, the co-founder of IGB Corp Bhd and Tan & Tan Developments Bhd, passed away yesterday at the age of 92. Together with his brother the late Tan Kim Yeow, they started property investment and development in 1959, which led to the incorporation of Ipoh Garden Sdn Bhd in 1964, the forerunner of the IGB Group. The brothers formed another property unit known as Tan & Tan Developments Bhd, which was subsequently listed in 1993. Chin Nam retired from the corporate world in the early 1990s, while Kim Yeow passed away in 1997. The Tan family controls three listed companies – IGB Corp, Wah Seong Corp Bhd and IGB REIT, which wholly owns the Mid Valley Megamall and The Gardens Mall. In related news, Walter Kwok, the former chairman of Hong Kong real-estate developer Sun Hung Kai Properties Ltd – one of the world’s largest real-estate developers by market value – died on Saturday at the age of 68. (The Star Online)

The late Datuk Tan Chin Nam, founder of IGB Group (Photo from