RH Consortium to develop 112-acre Riverbank Cove in Manjung
Perak developer RH Consortium Sdn Bhd is gearing up to introduce its first flagship development Riverbank Cove in Manjung, Perak. The project has a total GDV of RM2 billion. Located just 9km away from the upcoming West Coast Expressway’s Sitiawan Utara interchange, the 112-acre township development will include residential properties, commercial properties, a healthcare centre, a boutique hotel and student accommodation. Situated right at the river mouth of Sungai Tiong overseeing Pangkor Island, Riverbank Cove will have six activated pocket parks, four lakes and a natural canal that flows through part of the development from Sungai Manjung. More than 10% of the total land size has been allocated to these green spaces. Riverbank Cove will be developed over 10 years and detailed planning for some projects has yet to be finalised including the parcel fronting the river. (The Edge)
Zuraida: PPR units must be occupied within six months after completion
All the People’s Housing Projects (PPR) units in Sabah must be occupied within six months from the date of completion. Housing and Local Government Minister Zuraida Kamaruddin said the delay in occupying the units could cause damage or defect to the property. “We want that within six months, every completed unit must be occupied and the process of selection (of applicants) must be carried out in advance,” she said. In the meantime, she wanted the applications for PPR units to be carefully reviewed to prevent unqualified people from benefiting. Zuraida also encouraged private developers including those in Tawau to join the government to build affordable housing for the people. (Malay Mail)
Lower property price threshold for foreigners in Johor won’t put Malaysians at a disadvantage
The move by the Johor state government to reduce the threshold for foreigners to purchase properties from RM1 million to RM600,000 will not affect local house buyers. State Housing, Communications and Multimedia Committee chairman Dzulkefly Ahmad said foreigners may purchase only completed properties with strata titles and that have been issued a Certificate of Completion and Compliance (CCC) for more than nine months. However, he said, the lower threshold will only apply between Jan 1 and Sept 30, 2020, after which date the threshold reverts to RM1 million. The other initiative, he added, is raising the levy on foreign buyers from two per cent of the transacted price or RM20,000 (whichever is higher) to five per cent or RM30,000 (whichever is higher). (Malay Mail)
UEM Sunrise disposes of Melbourne property for RM355m
UEM Sunrise Bhd is disposing of one of its properties in Melbourne for A$125 million (RM354.6 million). It comprises a serviced apartment block that forms part of the Aurora Melbourne Central, together with 10 car park lots and part of the ground floor retail area measuring a gross floor area of 14,900 sqm. The serviced apartment includes 147 studio apartments and 105 one-bedroom apartments. UEM Sunrise said the proposed disposal is part of its ordinary course of business as a property developer, to unlock the sales value of the property at a higher price. It added that the proposed disposal is expected to be completed by the second quarter of 2020. (The Edge)
Home Ministry to look into establishing privatised prisons
The government is prepared to look into a proposal to set up privately-managed prisons to address overcrowding problem, said Deputy Home Minister Datuk Mohd Azis Jamman. To date, he said, about 74,000 inmates are undergoing their prison sentence nationwide, but the actual capacity is about 52,000. “Given the current financial pressures, maybe we can study and consider establishing private prisons as implemented in the United Kingdom (UK),” he said. Mohd Azis said if implemented, the prison would house inmates who are being sentenced for minor offences. Meanwhile, he said three prisons namely in Pengkalan Chepa, Kelantan; Batu Gajah, Perak and Seremban, Negri Sembilan would be upgraded beginning next year. (NST Online)
