MKH launches first transit-oriented development in Kajang
MKH Bhd, formerly known as Metro Kajang Holdings, will launch Kajang’s first transit-oriented development (TOD) this month. MKH Boulevard II is located on a 2.4-acre freehold parcel next to the Kajang MRT and KTM interchange station. With a GDV of RM241 million, it will offer 604 serviced apartments in a 34-storey block on top of a 8-storey retail and carpark podium. There will be 42 double-storey retail units, most of which will face the main road. The development will also be connected to the interchange station via a covered walkway at the ground level. The company is targeting first-time homebuyers and young families for the project, which offers smaller units as starter homes. (The Edge Markets)
More residential launches in KL abound in 2019
More residential property launches could be expected in Kuala Lumpur next year as market sentiments are projected to improve as a result of the stamp-duty waiver for first-time homebuyers announced in Budget 2019. According to Knight Frank Asia Pacific Forecast 2019, the slight upward revision in stamp duty and real property gains tax (RPGT) rates that were announced in Budget 2019 are not likely to impact the market significantly. However, the growing mismatch in supply and demand, along with rising financing costs, will continue to impinge on price growth as the market finds its equilibrium. Knight Frank also projected that the office sector in Kuala Lumpur would remain firmly tenant-led moving into 2019, as there is no immediate catalyst to boost demand. The sharing economy will continue to bring structural changes to real estate markets, as co-working and co-living continue to grow in major metro markets. In addition, non-traditional real estate investment sectors such as student accommodation, retirement living and build-to-rent in established mature markets will outperform the wider market. (The Malaysian Reserve)
MAHB expects RM1b in investment into KLIA Aeropolis
Malaysia Airports Holding Bhd (MAHB) expects to gain RM1 billion worth of investments within the next five years following its RM150 million initial investment in two of its business components. MAHB general manager of land development Randhill Singh said there are multiple economic impact on this initial investment, namely the air cargo and logistic component well as the aerospace and aviation. “One of our main priorities in 2019 is to continue develop the Digital Free Trade Zone (DFTZ) and the master planning for Subang Airport Regeneration… RM60 million from the RM150 million have already been used for DFTZ and the rest would be used towards the development of Subang Aerotech Park,” he said. (NST Online)
Malaysia attracts RM139b investments in January to September
Malaysia attracted a total of RM139.3 billion worth of investments in the manufacturing, services and primary sectors in the first nine months of 2018, up 18% from RM118.1 billion approved in the same period last year. Malaysian Investment Development Authority (Mida) said the total investments approved in January-September 2018 were from 3,243 projects. Approved foreign direct investments (FDI) increased by 109.7% to RM64.1 billion. China accounted for RM15.6 billion or 32 per cent of total foreign investments, followed by Indonesia (18.4%), the Netherlands (17%), the US (6.3%), Korea (4.9%) and Japan (4.3%). (The Sun Daily)
MHub, Tongdun to co-develop mortgage financing solutions
MHUB, a Malaysian real estate fintech company that focuses on digital transformation of property sales, and Tongdun International headquartered in Hangzhou, Zhejiang, the intelligent risk management service provider, signed a Memorandum of Understanding (MoU) to implement joint initiatives to enhance customer experience in real estate mortgage financing solutions. Areas of collaboration include the development of online identity verification (e-KYC), enhanced fraud detection, and joint modelling on alternative credit scoring. MHub focuses on web-based solutions to simplify the property sales and purchase process between bankers, buyers, developers and agents. Through the use of real time certified data, MHub’s platform significantly reduces the turnaround time for credit checks and loan applications from months to minutes, significantly improving the process for all parties. (Digital News Asia)
