Singaporeans like landed properties in Iskandar
Demand for landed properties and well-planned business parks are still in demand in Iskandar Malaysia, especially with Singaporeans who were planning to set up businesses in Johor. According to Johor Real Estate and Housing Developers Association (Rehda) branch chairman Hoe Mee Ling, they are looking for business parks near highways and townships because setting up their businesses here is only about one-third of the cost of operating in Singapore. Geographical location, improved infrastructure, growing workforce and continuing investments had helped boost demand for such properties. Property sales also depend largely on external factors like quality, concept and good after-sales service, as well as job opportunities in the region. (The Star Online)
Malaysian-born Australian property developer keen to develop in Malaysia
Property developer Maha Sinnathamby, 75, a Malaysian-born property developer who is the founder and chairman of Greater Springfield Land Corp Pty near Brisbane, is keen to develop a city here in Malaysia if given the opportunity. He was born in Rantau, Negeri Sembilan, and his company is in the midst of developing Australia’s biggest city, Greater Springfield. He remains passionate about Malaysia and believes the country has potential to grow further, with many potential areas to be expanded into city. Sinnathamby’s Greater Springfield project has been declared the world’s best master-planned community by the International Real Estate Federation. (Malay Mail Online)
Public rail transport to boost Sunway Velocity
The Signature retail shop offices at Sunway’s integrated Cheras project, Sunway Velocity, is expected to see brisk sales despite the weak property sector due to two MRT stations. The first phase of the eight-storey Signature office block, comprising 80 units, is scheduled for completion in 2018, while the second phase comprising 64 units is estimated to complete is 2019. The retail offices are located near the upcoming Cochrane MRT station, while the mall end of the development is near the Maluri MRT station. Both stations are about 100m from the development. Besides the Singature offices, there will also be residential suites totalling 745 units over two blocks. Sunway Velocity is a 23-acre project that includes a mall, residential blocks, a hospital, a hotel, a 2-acre park and retail offices. (The Star Online)
EPF acquires 1.6mil shares in Mah Sing
The Employees Provident Fund (EPF) has acquired 1.5491 million shares in Mah Sing Group Bhd, bringing its total shares to 10%. Mah Sing has a high return on equity (ROE) of 15 per cent five-year average, and a 36 per cent five-year compounded annual growth rate in property revenue. It is one of the most active property developers in Malaysia, with 46 project in total, 11 of which are completed. The group has unbilled sales of RM4.8 billion, in addition to remaining GDV of RM26.4 billion, provides growth and earnings visibility for the next six to eight years. (Free Malaysia Today)
Govt to expand use of IBS to lower house prices
The government will expand the use of industrialised building system (IBS) in the housing industry to enable citizens to buy houses at lower prices. Currently, the use of IBS has not seen any growth. With PR1MA and the Urban Wellbeing, Housing and Local Government Ministry using the system, more people would be able to buy quality houses at lower prices, said Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah. He said Syarikat Perumahan Negara Bhd had started using IBS to build houses under the Rumah Mesra Rakyat scheme. (The Star Online)
Penang WorldCity reclamation works may begin in 2Q2016
Land reclamation works on the RM10 billion Penang WorldCity mixed development in Bayan Mutiara, Penang may finally begin again, after a delay of almost four years. The joint venture between Ivory Properties Group Bhd and Tropicana Group Bhd will be calling for tenders for the reclamation works by end of the year or first quarter of 2016. The tender was postponed twice after encountering problems getting approvals from the local authorities. The proposed development is a mixed residential and commercial property project on a 41.5ha site in Bayan Mutiara for RM1.07 billion, of which 14.2ha of land is to be reclaimed. A hotel, hospitals, schools and residential units are planned to be built on the reclaimed land. (The Edge Markets)
