Affin Bank buys RM255m land in TRX
Affin Bank Bhd has purchased a 0.51-hectare tract of land in the Tun Razak Exchange (TRX) for RM255 million from KLIFD Sdn Bhd. The site will house the company’s 35-storey headquarters, which would cost RM300 million to build and expected to complete by end of 2018. (Bernama)
Naza TTDI plans new developments for 2015
The property development arm of Naza Group, Naza TTDI Sdn Bhd, is planning to launch new properties totaling up to RM1 billion this year. The group’s deputy executive chairman and managing director said it was waiting for the right time to launch new products due to the current softer market sentiment. There has been no mega launching from the group so far this year. Naza TTDI currently has three main projects in Selangor, including the TTDI Alam Impian township in Shah Alam, TTDI Grove in Kajang and TTDI Gateway in Shah Alam. Its Menara Naza TTDI in Section 13, Shah Alam was opened on Friday. (The Malaysian Reserve)
JV for Mimaland development terminated
A joint venture between MPHB Capital Bhd’s subsidiary Mimaland Bhd and Bandar Raya Development Bhd (BRDB) unit Magna Senandung Sdn Bhd was terminated on Monday. The JV agreement was to redevelop the long-closed 324-acre Mimaland recreational park in Gombak, into an eco-friendly hillside, courtyard and water fronted homes with GDV of RM2.2 billion. No reason was provided for the cancellation, but both parties would not have any claims against the other. (The Star Online)
Abandoned DutaLand hotel project may be revived
The site of what was once meant to be The Grand Duta Hyatt Hotel at the junction of Jalan Ampang and Jalan Sultan Ismail in Kuala Lumpur may be revived, following a fresh application for approval to develop the site from Duta Grand Hotels Sdn Bhd, a subsidiary of DutaLand Bhd. Workers have been spotted at the site of the abandoned hotel site, which was halted at the 29th floor 17 years ago following the Asian financial crisis. An earlier proposal shows that the development would comprise a luxury hotel, serviced apartments, retail and office components. (The Malaysian Insider)
The site of the abandoned Grand Duta Hyatt Hotel (Photo from digitalEdge Weekly)
N. Sembilan to launch 30-Year Development and Modernisation Policy next year
The Negeri Sembilan state government has announced that it will launch a 30-Year Development and Modernisation Policy next year to reflect aggressive development in the state, and would become the core of development in the state for the next three decades. The policy is supported by the Social Safety Net Policy, which also includes education, housing and rural areas, to ensure the welfare of the people in the state. In June this year, the Negeri Sembilan Housing Policy was launched and well received by all parties. The state also plans to launch the Rural Development Policy early next year. (The Sun Daily)
State urged to halt Section 17 high-rise project
Petaling Jaya lawmakers have called on the Selangor state government and Petaling Jaya City Council (MBPJ) to issue stop-work order against a high-rise mixed development project in Section 17. Residents had complained about the project, which was causing traffic congestion along the narrow roads, noise pollution and also affected the structure of nearby houses, while shopowners suffered from bad traffic and lack of parking. Traders from the morning and night markets were relocated last November but the market complex is only scheduled for completion end of the next year. The development, comprising serviced apartments and commercial units, is slated for completion in 2018. (The Star Online)
Khairy: Bukit Jalil complex facelift will cost over RM1bil
Upgrading and construction works on the facilities at the Bukit Jalil Sports Complex in preparation for the 2017 SEA Games will cost over RM1 billion, said Youth and Sports Minister Khairy Jamaluddin. The project will be in two phases, before and after the biennial sporting event. Upgrading works would involve the Putra Stadium, National Stadium, aquatic centre, hockey stadium, athlete dormitories and other new facilities in Bukit Jalil, while a new indoor convention centre will be built at the parking lot area in front of the main stadium. The estimated cost also took into consideration improved safety aspects. He added that the high facelift cost was not only for the athletes’ comfort but also to generate revenue from the facilities. Eight companies have been shortlisted and a tender is being prepared. (The Rakyat Post)
