Housing schemes to be announced for B40, graduates in September
New housing financing schemes will be announced in September as the government pumps up efforts to help the B40 and fresh graduates to own homes, said Housing and Local Government Minister Zuraida Kamaruddin. The financing facility will be based on rent-to-own policy – where successful applicants need not pay a deposit and will be given five years before their financial status is reviewed for own eligibility. PTPTN defaulters who have been placed under CCRIS (Bank Negara’s central credit reference information system) could also apply for the financing facility. The scheme is open to Malaysian first-time homebuyers in the B40 group for the purchase of a home priced RM300,000 and below from the FundMyHome platform. (The Star Online)
Malaysian property market bottoming out, says Knight Frank
Malaysia’s property market is showing signs of bottoming out, with “rays of hope” in the housing market, according to Knight Frank Malaysia in its latest research report, “Real Estate Highlights 1st Half of 2019”. Its managing director Sarkunan Subramaniam said Malaysia’s property market is poised to gather further momentum moving into the second half of 2019 as the market is “firing various cylinders”. In the residential segment, the extended National Home Ownership Campaign (HOC) will continue to stir interest among home buyers and allow developers to clear stock. As for the retail sector, while consumer sentiments remain subdued, retail sales remain in the expansionary territory. In the commercial market, looming supply and weak absorption continue to impact the Klang Valley office market. (The Sun Daily)
Artist impression of M Luna
Mah Sing buys Kepong land to develop “M Luna” project with RM705m GDV
Mah Sing Group Bhd is acquiring a parcel of land measuring 5.47 acres in Kepong, Kuala Lumpur for RM94.76 million. It is planning to develop a property project called “M Luna” on the land with a GDV of RM705 million. Its wholly-owned subsidiary Vienna Home Sdn Bhd had entered into a conditional sale and purchase agreement with JL99 Holdings Sdn Bhd for the purchase. The project is planned for two blocks of serviced apartments with a “Luxury You Can Afford” concept. The most affordable units would have an indicative built up from 700 sqft and indicative starting price from RM385,000. Mah Sing said the group is making steady progress on increasing its presence in Klang Valley, and aims to expand the overall remaining GDV in Klang Valley over the next two to three years. (The Sun Daily)
Genting stocks jump on optimism over outdoor theme park opening
Genting Malaysia Bhd and Genting Bhd were the top gainers on Bursa Malaysia today, driven by the possible earlier-than-expected opening of Resorts World Genting’s (RWG) outdoor theme park. Genting Malaysia surged 7.25% to close at RM3.70, while Genting rose 3.31% to close at RM6.87. According to Maybank IB Research, RWG’s full-page job advertisements for its theme park division in local newspapers over the last two weeks suggest that the outdoor theme park could be ready to open soon. The outdoor theme park, which is the subject of a US$1 billion (RM4.12 billion) lawsuit between Genting Malaysia and Fox/Disney, is about 95% complete as at July 2019. (The Sun Daily)
Dr M remains Malaysia’s most admired man, says study
Malaysian Prime Minister Tun Dr Mahathir Mohamad has again topped the list as Malaysia’s most admired man, according to YouGov’s annual study of which public figures people look up to. The results saw Datuk Dr Sheikh Muszaphar Shukor, the first Malaysian astronaut, in second place after the 94-year-old prime minister. Another notable Malaysian in the top ten is Datuk Lee Chong Wei, recently retired Olympic badminton player, in sixth place. Singer Datuk Seri Siti Nurhaliza Tarudin is Malaysia’s most admired woman for the second year running, followed by the wife of Dr Mahathir, Tun Dr Siti Hasmah Mohamad Ali. Malaysia’s first female Deputy Prime Minister, Datuk Seri Dr Wan Azizah Wan Ismail, is in third place. (The Star Online)
