Nearly one billion people scared of losing homes or land, poll finds
Almost one billion people around the world fear losing their homes or land within five years, with owners and tenants in Burkina Faso and the Philippines the most concerned, a survey of 140 nations showed. About one in five adults (19%) worry that their housing, fields or other land could be taken away from them in the near future, hampering their ability to invest or plan, according to the Prindex global property rights index. “Land and housing insecurity is a huge issue hiding in plain sight,” said Malcolm Childress, executive director of the Global Land Alliance, a Washington-based think tank that compiles the index with the British Overseas Development Institute. A lack of formal documentation and poor implementation of land laws threaten tenure in many countries, experts say, with more than 5 billion people lacking proof of ownership. People in the Philippines and Burkina Faso reported the highest levels of concern, with nearly half of respondents (48% and 44%) fearing their homes could be taken away. That compared with Singapore and Rwanda, which had the lowest rates of concern in the same two regions, with 4% and 8% respectively. Although data collection was completed before the global outbreak of the novel coronavirus, housing insecurity could further increase as the easing of lockdowns in cities may lead to a rise in evictions. (The Sun Daily)
Rehda: RTS will enhance connectivity and accessibility
Malaysia and Singapore can look forward to better connectivity and accessibility with the completion of the Johor Baru-Singapore Rapid Transit System (RTS) project within the next few years. Johor Rehda chairman Datuk Steve Chong Yoon On said the project would definitely aid Johor’s economy and development projects. He said this would push demand for industrial properties as well as create job and business opportunities. Iskandar Malaysia would benefit the most with the improvement in accessibility and connectivity between Johor Baru and Singapore. Chong said the RTS project would ease congestion along the Johor Causeway, which was among the world’s busiest land link with hundreds of thousands of people crossing it daily. He stressed that fares should be affordable, with high frequency of service to encourage more to use it. “The project could also attract Singapore-based companies, including the small and medium enterprises there, to relocate their operations to Iskandar Malaysia,’’ said Chong. Based on reports, work on the RTS project would start in November. (The Star Online)
Paramount to develop RM863m project on prime ‘embassy row’ land in Ampang
Paramount Corporation Bhd plans to redevelop two properties in the U Thant enclave of Kuala Lumpur into a premium high-rise residential development with an estimated gross development value of RM863 million. The property developer said its unit, Paramount Property (Cityview) Sdn Bhd (PPCV), had bought two contiguous pieces of land totalling 1.83 hectares, along with the condominium and serviced apartment buildings on them, for RM243.8 million for the purpose. Paramount group chief executive officer Jeffrey Chew said the proposed development would comprise about 650 units of condominium. The site is located at the prestigious U-Thant enclave which is surrounded by foreign embassies, high commissions, high-end residences, international schools and medical centres. (Malay Mail)
Glomac to pace out launches worth RM8 billion
Glomac Bhd will pace its new launches over the longer term, and leverage on a strong development portfolio with an estimated GDV of RM8 billion to sustain the group for the coming years. The firm said the property market is likely to remain challenging and is spreading out new launches as the group recovers from the negative economic uncertainties brought on by the Covid-19 pandemic and its ensuing movement control orders (MCO). Glomac is emphasising on more aggressive marketing strategies (to move its property sales). In the current financial year ending April 30, 2021, Glomac hopes to sustain its performance backed by unbilled sales of RM650 million and new launches worth RM612 million. The new launches include affordable high-rise projects like GreenTec Puchong and landed residential projects at Saujana Perdana and Saujana KLIA (Sepang). (NST Online)
Permaju to develop high-rise housing project in Selangor worth RM2.4 billion
Permaju Industries Bhd is believed to have won a construction contract worth about RM1.2 billion to undertake a massive property development project in Selangor. Sources said that the contract was awarded by a reputable developer who owns a big plot of land in the Seri Kembangan/Serdang area. It is understood, the contract is to build more than 7,000 units of apartments over the next six to seven years. The highest tower in this development will stand at a height of over 50 floors which may make it the tallest structure in the Seri Kembangan/Serdang area. It is firmly believed that the estimated gross development value is in the region of RM2.4 billion. Permaju officials were not available for comment at Press time. The project will be a boom for both Permaju and the construction industry. Activities in the construction sector had slowed down more than a year ago and further dampened by the Covid-19 pandemic.(NST Online)
