Indonesia begins fortification of site of new capital
New bases will be built by the Indonesian armed forces (TNI) as the country begins shifting its attention to East Kalimantan where the new capital will be relocated from Jakarta. New headquarters for the TNI, the army, navy and air force will be built in the North Penajem Paser regency where the development of the capital will be centred. TNI commander Air Chief Marshal Hadi Tjahjanto said the new capital, which will be built on 180,000 hectares of land straddling East Kalimantan’s North Penajam Paser and Kutai Kertanegara regencies, will require full defence protection from potential threats from land, sea and air. President Joko Widodo’s administration is currently finalising a master plan for the new capital city, with a target of starting the development of what has been described as a “smart metropolis” by the end of next year. The initial stage of the development of the new capital is estimated to cost up to Rp466 trillion (RM135 billion). The sum covers the construction of the new state palace, ministerial offices and houses of worship, all of which are expected to be completed by 2024. (NST Online)

People-centric plan for KL
Kuala Lumpur’s commercial and residential trajectory is under the spotlight with the drafting of the Kuala Lumpur 2040 Development Plan (KL2040DP). The draft Kuala Lumpur Structure Plan 2040 (KLSP2040) and Kuala Lumpur Local Plan 2040 (KLLP2040) will be in tandem with national aspirations, vision and the sustainable development goals (SDGs 2030). DBKL City Planning Department senior deputy director Nik Mastura Diyana Nik Mohamad explained that utilising the structure plan would allow the local authority to establish a planning and management framework to guide the city’s development. In contrast, the KLLP2040 will be more detailed and translates what is in the structure plan on a micro level. With that in mind, DBKL is preparing a people-centred plan with the theme “Kuala Lumpur City for All -– Inclusive, sharing, equitable, diverse and accessible.” (The Star Online)

5,000 sq ft Taobao retail store to open in KL on Nov 29
Taobao online users in Malaysia can experience shopping for products in a new environment as Alibaba Group announced that it will be opening a physical store soon. A new 5,000sqf Taobao Store by Lumahgo is slated to begin operating at MyTown Shopping Centre in Kuala Lumpur on Nov 29. The company said it’s the largest physical Taobao outlet, with a collection of homegrown brands and products, in Malaysia. The store will allow shoppers to select items by scanning a QR code and finalising the purchase through the Taobao app, as well as get assistance from staff. “Our objective is to provide more touch points for consumers of all ages in Malaysia, especially those who are not familiar with shopping online. Having a physical space means shoppers will be able to touch and feel a variety of products in person before making a purchase on the Taobao app,” said Fabian Kong, CEO of Lumahgo New Retail Sdn Bhd. (The Star Online)

(Source: Elana Khong)

46,873 private affordable homes to be built in three years
A total of 46,873 private affordable homes costing below RM300,000 each will be built in six states within the next three years, said Housing and Local Government (KPKT) Minister Zuraida Kamaruddin. She said the State-owned Menteri Besar Incorporated (MBI) Selangor has agreed to build 30,000 homes in Selangor, while the remaining 16,873 houses in other states will be built by 11 private housing developers on private land. “Although the houses will be built on private land, the Ministry has set conditions that the property should be in major suburbs, near to basic amenities such as transport facilities and schools,” she said. The Ministry is also in talks to develop another 15 to 20 new projects under the second phase of private affordable housing and it is expected to be finalised in January next year. (The Edge)

(Source: The Edge)

After upgrade, KL33 owner plans to sell building
The owner of KL33, KL33 Properties Sdn Bhd, is currently looking for a buyer for the building after significantly upgrading it. It was reported that KL33 Properties hopes to sell KL33 (the building used to be known as Menara Prudential) “for 70% more than what it paid for it about three years ago”, and “is seeking” a price of RM1,100 psf”. If it succeeds, it would net RM215.5 million. The upgrade or asset enhancement exercise included the putting in of 13,237 sq ft – boosting the total net lettable area by about 20%. The current building also has a two-tiered auditorium that can seat 160 people and 215 parking bays. The building, located in a prime location in Jalan Sultan Ismail, “is being marketed as an opportunity for a single owner or tenant to use as a headquarters or, alternatively, it can be retrofitted to other commercially viable options”. (The Edge)