Bandar Belia to be country’s first extreme sports hub
Bandar Belia in Tanjung Malim will be developed into an extreme sports hub, which will be the first in the country. Housing and Local Government Minister Zuraida Kamaruddin said the ministry would cooperate with the Tourism, Art and Culture Ministry, as well as the Youth and Sports Ministry to realise it. Development of the Youth City project, which was now about 40% ready, was scheduled for completion in 2023. Tanjung Malim will be developed as the first Commonwealth Youth Town in the world by leveraging existing public infrastructure, facilities and in collaboration with the government, government-linked companies (GLCs), private sector and the civil society. The visionary project was announced by Prince Charles of Wales during the Commonwealth Youth Summit in November 2017. (Malay Mail)
RAC: Best time to redevelop rail land
The KTMB quarters in Bangsar, Kuala Lumpur, will finally undergo redevelopment and the new project will have an estimated GDV of RM3 billion. According to Railway Assets Corp (RAC) general manager Azhar Ahmad, the corporation is planning a mixed-used transit-oriented development (TOD) on the 5.26ha freehold land. “We are looking at building two hotels, office towers, are tail mall and affordable houses that include apartments. The affordable homes will sell from RM350,000. A hotel will do well there as the location is just a stop away from KL Sentral via the Bank Rakyat-Bangsar LRT station,” he said. The redevelopment may take about 10 years for full completion and is expected to start this year or in 2020. The Bangsar land is part of the nine parcels of land that RAC has identified for redevelopment — mostly to be based on the TOD concept. RAC has experience in TOD developments with the completion of a project with SP Setia Bhd for the Abdullah Hukum light rail transit station in KL Eco City. (NST Online)
Construction, property sector likely to see retrenchments in 2019
Malaysia’s construction and property sector is likely to see retrenchments in the first half of this year, said recruitment agency Randstad. Bulk hiring activities have slowed down since May last year and companies have since focused on getting their projects approved or reapproved by the new government, the agency said in its 2019 market outlook report. While the government’s decision to prolong the duration of projects can save on operational costs in the long term, it will also cause the demand for manpower to drop. “Unfortunately, this means that retrenchments will likely take place in the first half of 2019,” it said. (The Edge Markets)
M CITY by Mah Sing
Mah Sing recognised by Malaysia Book of Records
M City, one of the iconic developments by Mah Sing Group Bhd, has received a recognition from the Malaysia Book of Records for housing the “First Multi Level Thematic Suspended Gardens in Malaysia”. The gardens are defined by a variation of themes such as Lagoon Park at Level 7, Bamboo Groove at Level 11, Spring Park at Level 17, Altitude Sky Club at Level 23, Tropical Sanctuary at Level 29 and Sky Garden at Level 35 rooftop. Each of the suspended gardens was designed to follow a unique theme, which is part of M City’s garden city living concept. Located at the corner of Jalan Ampang, M City is a freehold integrated development spanning 2.02 ha of land and has a GDV of RM1.6 billion. It comprises three towers with a total of 1,585 units, made up of boutique retail shops, SoHo units, serviced apartments, and Sky Residences. (NST Online)
IoT benefits, challenges for property management
The Internet of Things (IoT) is poised to shake up the property management sector in Malaysia, says Zerin Properties managing director and founder Previndran Singhe. He said IoT’s impact on property management alone is expected to be very big ― Gartner estimates more than US$1 billion (RM4.1 billion) spending in the United States, and that’s only for commercial assets. Previndran said in Malaysia where most property management professionals are still struggling with a mix of outdated legacy systems, lagging technology and unconnected assets, it will take a while for the IoT to take full effect. Previndran said many leaders still have to grapple with a major skill gap among their colleagues, in terms of IoT implementation, adding that security will remain a top concern in connecting different parts of a company’s infrastructure to the digital world. (NST Online)
