Budget 2018: Cuepacs wants 1.5 months’ bonus for civil servants
The Congress of Union of Employees in the Public and Civil Services (Cuepacs) has proposed that the government considers giving a bonus of 1.5 months to civil servants and two new initiatives to ease the financial burden of those living in the city in the Budget 2018. The other two initiatives are the proposed City Allowance and Public Transport Discount Card. Permanent housing remained a key issue; as such, Cuepacs proposed that the loan interest rates from the Public Sector Housing Board be reduced from 4% to only 1%, and called for the government to allocate housing to civil servants earning RM3,000 and below priced at RM90,000 to RM150,000. (Malay Mail Online)
Bintai Kinden partners Vista Springs to jointly develop Melaka land
Bintai Kinden Corp Bhd is partnering with Vista Springs Development Sdn Bhd to jointly develop a project with an estimated GDV of RM350 million in Melaka. The development, located on a 4.74-acre piece of freehold land, will be for hospitality, residential and/or commercial purposes. A MoU between its wholly-owned subsidiary Kejuruteraan Bintai Kindenko Sdn Bhd and Vista Springs had been signed to establish a collaboration between the parties to join their skills, experience and resources to work together to develop the premises for mutual interest and benefits to the communities. (The Edge Markets)
Mitrajaya bags RM132mil contract for Putrajaya condo
Mitrajaya Holdings Bhd has been appointed to undertake the main building works for Setia Putrajaya Sdn Bhd’s 363-unit condominium project in Putrajaya, Kuala Lumpur, for RM132.48mil. The works involve 35 storeys of condominium units with amenities and a five-level carpark. Mitrajaya said the contract would have a 30-month duration starting Aug 2, 2018. The project is expected to be completed by February 2021. (The Star Online)
Trive in talks to build SPNB projects worth RM1.1bil
Trive Property Group Bhd is in talks to be the turnkey contractor to build affordable housing projects for Syarikat Perumahan Negara Bhd (SPNB), worth RM1.1 billion GDV, under a joint venture company. According to Trive Property, the affordable housing development will comprise 1,775 units of residential condominiums and apartments, 50 units of retail and commercial space, with a central parking podium. It is said to be located near to high-end reputable and matured communities like Desa Park City, Country Heights Damansara, Mont Kiara and TTDI. (The Edge Markets)
Mah Sing terminates RM60mil Titiwangsa land deal
Mah Sing Group Bhd has terminated the proposed acquisition of 3.56 acres of freehold land in Kuala Lumpur due to non-fulfillment of the conditions precedent within the stipulated period. It was earlier reported that Mah Sing Properties had planned to acquire five pieces of adjoining land in Titiwangsa for RM60 million. The property developer had initially planned to develop a residential condominium on the land with an estimated GDV of up to RM650 million. (The Sun Daily)
Plans for RM30mil Penang Arts District underway
Two years after announcing the set-up of an art district, the Penang state government has finally submitted the masterplan for the Penang Arts District (PAD) for planning permission. Delays for the PAD project were due to conflicts with the proposed state light right alignment. Last year, a 9.2 acre development site off Gat Lebuh Macallum and Lebuhraya Tun Dr Lim Chong Eu was identified to be an ideal place to set up the Penang Arts District. The state government will invest RM30mil for the PAD, which will have 100,000-sq ft of build-up space mainly made up of shipping containers. (Malay Mail Online)
The proposed Penang Arts District will be mainly made up of shipping containers.
Matrix acquires land in Port Dickson for RM27mil
Matrix Concepts Holdings Bhd’s wholly-owned subsidiary, BSS Development Sdn Bhd (BSS), has further acquired land in Port Dickson, Negeri Sembilan. BSS had proposed to acquire another 23.14 ha of land in the same locality for RM27.06 million cash. It had entered into various SPAs with individual land owners to acquire an additional 10 parcels of vacant agriculture land held under separate titles in Port Dickson between August and October this year. With this additional acquisition, the total land acquired stands at 76.57ha. (Malaysian Digest)
Retirement villages flourish on rising demand
In Malaysia, there are four retirement villages — The Green Leaf (Sepang), AraGreens Residence (Ara Damansara), Green Acres (Ipoh) and Eden-on-the-Park (Kuching) — offering facilities for senior citizens from all over the world to reinvent their lives. More demand for retirement homes are expected as the ageing population increases. In the next three years, one in 10 Malaysians will age 60 and above. By 2040, it is projected to be one in five. Based on the Live and Invest Overseas Annual Overseas Retirement Index 2017, 13 categories represent the most important criteria retirees weigh when choosing a retirement home. The categories are cost of living, crime and safety, spoken English, entertainment, environmental conditions, expat community, health care, infrastructure, real estate affordability, real estate restrictions, recreation, residency options and taxes. The index considers George Town in Penang as one of the top retirement destinations in the world. (NST Online)
Artist impression of The Green Leaf in Sepang
Government allocates RM17mil to address beach erosion in Kelantan
The federal government has allocated RM17 million to implement a project to address coastal erosion involving Pantai Kundur and Pantai Mek in Kota Baru, Kelantan. It was found that beach erosion had started to damage houses in the areas since 2010. The tendering process for the three-kilometre project will be opened next month and work would begin as early as February next year. The scope of the project will involve land reclamation as well as the construction of concrete barriers. (Malay Mail Online)
UEM Sunrise eyes more land Down Under
UEM Sunrise Bhd aims to buy at least two parcels of land in Australia next year with the completion of its land sale in Canada. The luxury developer received C$113 million (RM381.87 million) from selling 1.98ha land in New Westminister, Richmond, and plans to use some of the proceeds for land acquisition in the world’s most liveable city — Melbourne — and Sydney. UEM Sunrise’s three projects in Melbourne are Aurora Melbourne Central, Conservatory and Mayfair with an estimated value of RM5 billion. (NST Online)
