10 January 2020: 5G to be deployed by 3Q; More foreign property buyers expected

Malaysia set to deploy 5G in third quarter

Malaysia is poised to roll out the commercialisation of the fifth generation (5G) technology in the third quarter of this year, according to Malaysian Communications and Multimedia Commission (MCMC) chairman Al-Ishsal Ishak. He said the deployment of the technology would not only redefine connectivity in the country but also bring positive impact to the economy and elevate Malaysia as one of the pioneers in the Asean region to implement 5G. The deployment of 5G would contribute up to RM12.7 billion between 2021 and 2025 to the nation’s economy and potentially create more than 39,000 new jobs. MCMC, along with other stakeholders and telcos are currently running 5G demonstration projects in the six states involving an initial investment of RM143 million. (Malay Mail)

Home ownership data to be finalised before end 2020, says deputy minister

The centralised database system on ownership of affordable homes priced at RM300,000 and less is expected to be completed before the end of the year, Deputy Housing and Local Government Minister Datuk Raja Kamarul Bahrin Shah Raja Ahmad Shah said. He said the data will contain all information on home ownership to ensure that homes priced at below RM300,000 are enjoyed by the target groups. “The comprehensive and accurate data will help the government ensure that these homes are owned by people who really need them, especially those in the low-income group.” This year, the ministry is focusing on building more affordable homes and a comprehensive and systematic home ownership data which will lead to fairer distribution. (Malay Mail)

Rise in foreign property buyers expected this year

Malaysia can expect to see an increase in foreign purchases in the next 12 months, says Juwai IQI. Sales would be driven by the lower threshold on high-rise property prices to RM600,000 from RM1 million previously for foreign ownership as proposed in Budget 2020, the firm said. The properties include high-rise stratified units in George Town (Penang), Kuala Lumpur, Johor Bahru and some cities in Selangor and they could attract a fair number of foreigners who may see it as an investment opportunity. Juwai IQI group executive director Kashif Ansari said it expects the market will remain resilient for 2020. He also said Malaysia would continue to be on the global investors’ radar due to its political, economic and infrastructure stability that bolstered the outlook of the ringgit. The ringgit remained structurally stable and was expected to move around 3.97 to 4.30 against the greenback in 2020. (NST Online)

Logistics sub-sector to see uptick in 2020

The revival of notable mega infrastructure projects in 2019, namely the East Coast Rail Link (ECRL) and the Bandar Malaysia project in Kuala Lumpur that will house one of the stations of the Kuala Lumpur-Singapore High Speed Rail (HSR); and the Johor Bahru-Singapore Rapid Transit System (RTS) will continue to improve market sentiments and restore investors’ confidence, according to Knight Frank Malaysia in its Real Estate Highlights for 2H2019. The report reviews the property market performance across the Klang Valley, Penang, Johor Bahru and Kota Kinabalu in the second half of last year. Impactful on-going projects and initiatives such as the Digital Free Trade Zone (DFTZ), the Regional E-commerce and Logistics Hub at KLIA Aeropolis, the ECRL and the West-Coast Expressway (WCE) have also contributed to Malaysia’s readiness as a regional logistics hub. Complemented by the increasing global e-commerce trade and consumer spending, logistics services are poised for growth and this will translate to higher demand for logistics and warehousing space. (The Edge)

FT minister: Putrajaya monorail system expected to complete before 2025

The monorail transport system in Putrajaya is expected to complete before 2025, with the line extended to Cyberajaya, Bangi and Kajang, said Federal Territories Minister Khalid Abd Samad. He said the project was one of the main focus of the government in upgrading the transportation system in Putrajaya and in attracting more visitors to the administrative centre. “In the Putrajaya area, we will stick to the original plan but the line will be connected to Kajang, Bangi, Cyberjaya and will be integrated with the East Coast Rail Link (ECRL) project, Mass Rapid Transit (MRT) system and Kuala Lumpur-Singapore High Speed Rail (HSR),” he said. (Malay Mail)