Eco World to launch RM15bil Eco Grandeur next month
Eco World Development Group Bhd will be launching Eco Grandeur, its modern integrated green township in Bandar Puncak Alam, Selangor next month. Phase 1 of the development is expected to be completed in three years, with the entire project set for completion in 12 to 15 years. The entire development, which comprises Eco Grandeur and the adjacent Eco Business Park V, has a combined GDV of RM15 billion. Eco Grandeur features quality affordable homes targeted at first-time home owners and also upgraders that are already living in the vicinity. The development features a modern Victorian-style architecture, beautiful landscaping and an emphasis on eco living, similar to Eco World’s other projects. The group expects to achieve a Green Building Index Certified Township status for Eco Grandeur. (The Edge Markets)
Mah Sing to launch RM2bil worth of projects in FY16
Mah Sing is targeting to launch RM2 billion worth of properties in FY16, with a sales target of RM2.3 billion. The company recently launched its largest township development to date at Meridin East in Masai, Johor. It also opened for sale the remaining 246 units of The Greenway’s double-storey link homes there. Located in Pasir Gudang, Meridin East sits on 1,313 acres with a potential GDV of RM5 billion spread over 12-15 years. Other upcoming launches include Penang Ferringhi 2 and Southville City’s Cerrado Block B. (The Edge Markets)
Malaysians keen on investing in Australian commercial property
Malaysian investors in Australia will most likely focus on commercial properties with the implementation of new tax rates targetting foreign buyers of residential real estate, according to Knight Frank Australia. Australian property market remained a key attraction for Malaysian investors despite the recent changes to the country’s property tax law. The firm expects a steady stream of commercial, hotel and retail assets transactions from Malaysian investors over the next year. The Australian property market remains attractive to Malaysian investors due to its strong underlying economic fundamentals, including a record-low interest rate environment. (AsiaOne Business)
Sime Darby wins top honours at SEA Property Awards
Sime Darby Property Bhd was named Best Developer at the South East Asia Property Awards (Malaysia) 2016, which was held on Aug 11. The conglomerate also collected a Special Recognition in Sustainable Development. BRDB Developments also shone at the ceremony, earning a total of four trophies, inclding Best Green Development and Best of the Best for residential in Malaysia. Real Estate Personality of the Year 2016 was Mitraland Group CEO, Chuah Theong Yee. (Property Report)
Perak Corp injects extra RM22mil into theme park
Perak Corp Bhd’s unit, Animation Theme Park Sdn Bhd (ATP) has injected an additional RM22 million into its Movie Animation Park Studios (MAPS) to enhance and ensure the theme park in Perak becomes a favourite tourist destination in Malaysia and the surrounding countries in SEA. It will also complement its property development activities to provide a steady stream of income in future. ATP has entered into a supplementary agreement with The Sanderson Design Group (Malaysia) Sdn Bhd to implement a set of enhancement projects to the attractions in the MAPS. (The Edge Markets)
Artist impression of Movie Animation Park Studios (MAPS) in Perak, which is set to open in Dec 2016
Ageing Malaysian population a ‘potential crisis’
The United Nations has projected a median that Malaysia will be an aged country by 2030, with 14% of the population or 5.2 million people aged 60 and above. This should serve as a wake-up call for Malaysians to plan and act now, said EPF chairman Tan Sri Samsudin Osman. He warned that 14 years is a very short time to tackle a complex issue such as social protection, and the nation would be at risk of depopulation like Japan. EPF has been in talks with various groups to provide input in developing policies and legislation in areas relating to social protection such as the minimum retirement age, minimum wage and re-employment policy in view of the potential crisis. It has also been actively raising awareness to the public about the importance of financial planning for retirement. (The Edge Markets)
Uber and Grab legalised in Malaysia
The Cabinet has approved the legalisation of ride-sharing services such as Uber and Grab, with the Land and Public Transport Commission (SPAD) tasked with working out the terms and conditions. “We will come up with a new transformation plan for the taxi industry. The plan will be drawn up by SPAD,” said Deputy Transport Minister Datuk Abdul Aziz Kaprawi. An overhaul of the traditional taxi industry had been proposed. Eleven initiatives were laid out including a proposal to transform the industry with improvement to the Teksi 1Malaysia model, and providing individual taxi permits to drivers with clean track records. (Malay Mail Online)
