EcoFirst expanding its property development projects to Penang
Property group EcoFirst Consolidated Bhd (EcoFirst) is broadening its development activities beyond Ampang Ukay, with a joint venture with Penang-based Lone Pine group, the developer of One Tanjong luxury seafront condominium in Tanjung Bungah, Penang. In December 2018, EcoFirst proposed to acquire a 70% in the Lone Pine group’s Geo Valley Sdn Bhd, which is developing a mixed residential and commercial project bearing an estimated RM1.25 billion GDV in Paya Terubong, Penang. “We are assessing a number of other projects in the Klang Valley that will boost EcoFirst’s bottom-line in the next two to three years,” said group CEO Dato’ Tiong Kwing Hee. “While Ampang Ukay will remain the prime mover in EcoFirst’s growth over the long term, our strategy is to partner reputable and well-known brands such as the Lone Pine group for more impact over the short and medium term,” he added. (NST Online)
Mitraland to launch The Upperville in Taman Melawati
A new condominium project by Mitraland Group is expected to be launched by early March. Called The Upperville@16 Quartz Melawati, the 24-storey project is located at Taman Melawati, Selangor. The project comprises 176 three-bedroom units and has an estimated GDV of about RM130 million. The condominium will be on a 2.7-acre leasehold site situated next to the developer’s award winning 16 Quartz development and surrounded by guarded-and-gated developments. “Our target market is mainly owner occupiers especially empty nesters and upgraders, urbanites looking for city lifestyle living but close to nature, as well as professionals working in the city,” said Mitraland marketing director Felix Nb. (The Edge Markets)
Professional gamers in an esports tournament (Photo from Trusted Reviews)
Sunsuria Bhd sign partnership to build EXVRA esports hub in Sepang
Sunsuria Bhd, a Malaysian based public-listed property developer has signed a partnership agreement to establish EXVRA, an esports hub in Sepang. Sunsuria will work with EXVRA to help boost the local esports ecosystem. The project will be used to cultivate the local esports ecosystem by providing infrastructure in the form of educational centres which will be part of the esports hub. One of the key aspects of the educational hubs is to provide Malaysian youths with the training and resources required to seek a career in esports-related fields. This is not the first esports hub in Malaysia, back in September 2018 AirAsia in conjunction with the Minister of Youth and Sports announced a planned hub in Klang. Malaysia also played host to the Dota 2 Kuala Lumpur Major in November 2018. (Esports Insider)
Perak MB urges B40 group to register with state housing board
Perak Mentri Besar Datuk Seri Ahmad Faizal Azumu has urged those in the low-income B40 category to register with the state’s Housing and Real Property Board (LPHP) so that the state can look into a better housing plan for them. He said a recent study has found that the monthly household income of over 80% of Perakians totalled to RM6,000. This does not correspond with the current 10,000 applicants registered with LPHP up to November 2018, he added. “We do not want to have a situation where there is an imbalance between the offer for affordable housing and applications,” he said. The Pakatan Harapan government had set a target of 50,000 affordable houses to be built in the state within the next five years. (Malay Mail)
IPC strips Para-swimming hosting rights from Malaysia
The International Paralympic Committee (IPC) has stripped Malaysia of the hosting rights of the 2019 World Para Swimming Championships scheduled for July 29 to Aug 4 in Kuching. According to IPC, the decision was taken during its Governing Board meeting after the Malaysian Home Ministry failed to provide the necessary guarantees that Israeli Para swimmers could participate, free from discrimination, and safely in the championships. About 600 swimmers from 60 nations are expected to participate in the event which offers more than 160 world titles. (The Sun Daily)
