Bandar Malaysia set to take off with 85-acre park, affordable homes

The massive 486-acre (196.68ha) Bandar Malaysia development, at the site of the former Royal Malaysian Air Force base in Jalan Sungai Besi, is now set to take off, following a share sale agreement and a shareholders’ agreement that TRX City Sdn Bhd had signed with IWH-CREC Sdn Bhd. The project’s expected GDV is about RM140 billion, while the parcel for the development is estimated at RM12.35 billion. Bandar Malaysia will have 85 acres of park and recreational area under the new agreement. The government has also doubled the number of affordable homes within the project to 10,000 units, he said. Finance Minister Lim Guan Eng said the project will also feature greater bumiputera participation, while the use of Malaysian construction materials and technologies, and local talents, will be prioritised. “Once completed, Bandar Malaysia will attract major multinational corporations (MNCs) and Fortune 500 companies to relocate their operations here. Alibaba and Huawei had shown interest in opening their hubs here in Bandar Malaysia,” he said. (The Edge)

HSR back on track, but may feature slower trains to reduce cost

The government is looking to scale down the Kuala Lumpur-Singapore High Speed Rail (HSR) project, including possibly reducing the speed of the trains in a bid to keep costs low. Prime Minister Tun Dr Mahathir Mohamad said the government is currently in the midst of a project review exercise, and scaling down the project might keep costs at a manageable level. Following several deferments, Dr Mahathir had later announced that HSR operations would start in Jan 2031. The HSR, spanning 350 km, was targeted to reduce travel time between KL and Singapore to 90 minutes. The service is expected to start from Bandar Malaysia and end at Jurong East in Singapore. (NST Online)

Expand development of ‘digital homes’, says Malacca CM

Housing developers in the state should expand the ‘digital home’ concept to affordable homes. This is the call made by Malacca Chief Minister Adly Zahari who referred to the Anjung Gapam digital home project launched last month in Jasin as an example of how people from all walks of life could benefit from the availability of such technology in their homes. The first such development in the state, the project will enable home owners to reduce energy consumption through efficient usage facilitated by an application, while the availability of high-speed Internet will help pave the way towards more economic activity in the area. The Anjung Gapam project which is a collaboration between TM One and Bintang Urusjuta (M) Sdn Bhd, comprises more than 2,000 bungalow units and 535 affordable homes which have been equipped with digital facilities. The 15-phase development is expected to be completed in 2029. (The Sun Daily)

Scientex buys Johor land for mixed property development

Packaging materials maker and property developer Scientex Bhd is buying 18 parcels of leasehold agriculture land in Kota Tinggi, Johor from Fiamma Holdings Bhd to be developed into a mixed property development. Measuring a total of 85.73 acres, Scientex will pay RM39.21 million for the land near Kota Tinggi. “However, it is currently too preliminary to ascertain the exact total gross development value, development cost, the expected commencement and completion dates of the development and the expected profits to be derived from the development of the land,” said Scientex. The landbank expansion is also in line with the group’s vision to build more affordable homes throughout the nation by 2028. (The Edge)

More homes for civil servants

More government servants in Putrajaya will be moving into their own homes, following the completion of Putrajaya Holdings Sdn Bhd’s (PjH) second Malaysia Civil Servants Housing Programme (PPAM) Seruling. Located in Precinct 5, PPAM Seruling comprises three-blocks with 1,062 units in total. The project was completed on April 30, which was 11 months ahead of schedule. Vacant possession in the first batch of 692 units were delivered in October, with the second batch to be delivered soon, according to PjH development senior general manager Hassan Ramadi. There is no swimming pool in the development but that will not be a problem, because there are two watersport facilities less than 3km away. (The Star Online)

Source: The Star Online