Mah Sing set to sell properties online in partnership with Lazada
Mah Sing Group Bhd is set to become the first developer in South-East Asia to sell its properties online under a partnership with e-commerce company Lazada Malaysia. To attract buyers, the company is also offering cash incentives of up to RM30,000. “Being the first developer to sell units online on an eCommerce platform such as Lazada, gives us a competitive edge against other developers in Malaysia,” Mah Sing CEO Datuk Ho Hon Sang said. Mah Sing home buyers who shop for their homes on Lazada will receive an exclusive 5% Lazada Incentive, which is one of the biggest incentives a property developer can offer. The Mah Sing projects that will be listed in Lazada for the 12.12 sale include M Vertica in Cheras, M Centura in Sentul, Sensa Residence @ Southville City in KL South, M Aruna in Rawang, M Vista in Penang, and Meridin East in Johor. (The Star Online)

Johor to impose affordable home surcharge on developers who miss targets
The Johor government will charge developers up to RM60,000 for each affordable home unit they do not deliver under the state’s affordable home programme (RMB), said Mentri Besar Datuk Osman Sapian. However, the developer will be given some flexibility in terms of the payment methods. Osman added that the state government will also reform the housing sector to achieve the target of providing 100,000 affordable housing units by 2023. A total of 23,643 affordable home units will be completed by 2023. (Malay Mail Online)

Finance Minister: Household debt expected to be under control next year
Malaysia’s household debt for next year is expected to remain under control in line with more stable income. Finance Minister Lim Guan Eng said that the ratio of household debt to Gross Domestic Product (GDP) was recorded at 83.2% as at September this year compared to 83.8% for the same period last year. A large number of the household debts went to property wealth such as buying a house (52.8%); non-residential (6.8%) and investment in reserve funds (5.7%). “The median Debt Service Ratio (DSR) on the whole is at 32%. However, there are still borrowers with weak financial position,” he noted. The Credit Counselling and Management Agency (AKPK) also implemented a programme to instill public awareness and skill in financial management. (NST Online)

Tropicana to roll out new launches worth RM430mil
Property developer Tropicana Corp Bhd said there are plans to roll out new phases across its signature developments amounting to a GDV of more than RM430 million. These comprise the second phase of commercial shoplots at Tropicana Aman in Kota Kemuning; the fourth landed residential phase at Tropicana Heights, Kajang; and a new commercial phase at Tropicana Metropark. Tropicana said it has unbilled sales of RM918.3 million to date, anchored by 15 ongoing projects. “Against a challenging but growing property scene and a cautious consumer sentiment, the group believes there will still be demand for landed properties and integrated developments in prime locations with accessibility to good amenities and at an attractive pricing.” (The Edge Markets)

KPKT plans to launch connecting unit for seniors
Minister of Housing and Local Government (KPKT) Zuraida Kamaruddin said the ministry is exploring the possibility of building connecting units for the aged and families in new affordable housing projects. “There is no policy for the aging population in terms of housing now,” she said. “Nevertheless, in KPKT, we are considering a connecting room concept, where aging parents can stay side-by-side with their children. This is something we can do in our future affordable housing projects,” she added, after unveiling the Ideal Malaysian Home. Named Baccas, the show unit of the development located at Setia Ecohill 2 is the product of the response from close to 14,000 respondents via the Lafarge-EdgeProp MYHOME survey earlier this year. (The Edge Markets)