Kuala Lumpur is the World’s Best City for expats, survey finds
An InterNations survey has ranked Kuala Lumpur (KL) as the World’s Best City for expatriates in their Expat City Ranking 2021. KL topped the list of 57 other cities including Malaga (Spain) and Dubai (United Arab Emirates), which took the second and third spots. The survey found that 85% were generally happy living in the Malaysian capital, while 65% found it a breeze to make friends. This was further echoed in the report as KL also took first place for the ‘Getting Settled Index’, which looked into how welcoming and affordable a city was, as well as the ‘Finance and Housing Index’, which saw 91% respondents agreeing that it was easy to find homes in KL versus the global rate of 60%. KL also came first place in the ‘Finance and Housing Index’ in 2020 and has consistently stood in the top three since 2017. The annual survey looks into four main categories: quality of life, transition/settling in, personal finance, and working abroad. (The Star)
PM: Keluarga Malaysia sales programme to begin on Saturday
The government will organise the #Keluarga Malaysia (#Malaysian Family) sales programme simultaneously in all 222 parliamentary constituencies from this Saturday in an effort to ease the people’s burden following the increase in prices of goods. Prime Minister Datuk Seri Ismail Sabri Yaakob said for a start, the programme which offers daily necessities at between 20% and 50%, would focus on B40 and M40 residential areas. The one-day programme is a joint effort by various quarters including the Domestic Trade and Consumer Affairs Ministry (KPDNHEP); Agriculture and Food Industries Ministry and private companies. Ismail Sabri said the organisation of the #Keluarga Malaysia sales programme was expected to be held until February next year, depending on the current situation of prices of goods. In the meantime, the prime minister said the National Action Council on Cost of Living would meet to discuss the causes of the rising prices of goods and determine the short- and long-term intervention methods. (Malay Mail)
Number of luxury real estate sellers rises globally
The 2022 State of Luxury Real Estate Report by Luxury Portfolio International (LPI), the world’s premier network of luxury residential real estate brokerages, has revealed a continuation of dominating home purchasing-related trends that began in third quarter 2020 and continued throughout 2021. The study shows that demand for luxury real estate remains high; price increases are expected to continue; supply remains lower than demand; time-on-the-market for luxury single-family homes often continues to “last just hours”; and sustainability is “critically important” (66%) when considering future home purchases. The study also shows an increase in the number of affluent sellers of residential real estate worldwide. While 2022 is expected to continue at a fast pace, there are signs that the luxury residential real estate market will be increasingly stabilising, a crucial step to avoid complications for a long-term, superheated market. The study comprises data from individuals in the top 1% to 5% income bracket across 20 countries. Sustainability, according to the study, is now a major differentiator in luxury homes, and buyers are willing to pay a premium. (The Sun Daily)
Glomac to launch new projects with RM216m GDV
Glomac Bhd plans to launch new projects with GDV of RM216 million in the second half of the financial year ending April 30, 2022 (2HFY22), while maintaining a cautious outlook on the back of property overhang due to the pandemic. Glomac MD and CEO Datuk Seri Fateh Iskandar Mohamed Mansor said the new launches are targeted at mid-market affordable landed residential products in its existing township developments. He clarified that the property company had to hold its launches for high-rise projects in view of rising building material prices, including steel and cement, coupled with the shortage of labour in the market. The new launches include Saujana Perdana development with GDV of RM44.5 million, Saujana Utama 5 (RM23.9 million), Saujana KLIA (RM122 million) and Saujana Jaya, Johor (RM25.5 million). It was previously reported that Glomac had planned to include data centres as its investment properties to diversify its income streams. (The Malaysian Reserve)
Hatten Land to enter green energy and blockchain sectors
Hatten Land, which has thus far focused on property-related businesses, has completed what it called a “strategic review” of its business and will diversify its operations into the blockchain sector and the digital economy. Hatten Land said it has substantial hospitality and commercial property businesses and assets in Melaka that are affected by the COVID-19 pandemic, with travel and movement restrictions affecting domestic and international tourism. As such, the review was to prepare for the resumption of commercial activity with the relaxation of travel and movement restrictions as well as the progressive efforts to re-purpose its malls. “These efforts aim to not only invigorate retail activities and enhance retail experiences in our malls by creating an omni-channel or “phygital” retail platform with e-commerce and our real estate assets, but also open up new opportunities such as digital assets and digital economy activities,” the company said. In addition, it aims to advance sustainability efforts via new renewable energy initiatives, among others. (The Edge)
Malaysia-born Grab listed on Nasdaq
A former Malaysian start-up, Grab Holdings Ltd, marked its debut on the United States’ Nasdaq stock exchange yesterday via a backdoor listing. Grab, which started off as MyTeksi with some initial funding from the government’s Cradle Fund, will be the largest listing in the United States by a South-East Asian company. Having a presence in 465 cities across eight countries, super-app Grab is currently headquartered in Singapore. Grab’s listing was finalised following a record US$40bil (RM169bil) merger deal with US-based company Altimeter Capital Management’s special purpose acquisition company, Altimeter Growth Corp. As part of the deal, Grab will raise about US$4.5bil (RM18.99bil), including US$4bil (RM16.88bil) in private investment. (The Star)
