+603-21612522        
+603-21612522      

CPI RETURNS TO POSITIVE TERRITORY

Malaysia’s Consumer Price Index (CPI) registered a 0.2% annual growth to reach 121.1 in March 2019, after experiencing deflation in the first two months of 2018. According to the Department of Statistics, CPI expansion in March 2019 was driven by the index of housing, water, electricity, gas & other fuels (+2%), education (+1.3%), food & non-alcoholic beverages (+1.1%), alcoholic beverages & tobacco (+1.1%) and restaurants & hotels (+1%). On a monthly basis, the CPI also increased 0.2% compared with February 2019, mainly supported by the index of transport (+2.6%), miscellaneous goods & services (+0.4%) and furnishings, household equipment & routine household maintenance (+0.3%). Headline inflation contracted 0.7% and 0.4% in January 2019 and February 2019, respectively, which had sparked deflationary fears amid the slowing economy. In terms of overall CPI, four states namely Kuala Lumpur (+0.9%), Penang (+0.6%), Selangor and Putrajaya (+0.3%) and Negri Sembilan (+0.3%) surpassed the national CPI rate of 0.2% in March 2019.

(The Sun, NST & The Star, 25/04/2019)


 

WORLD BANK KEEPS MALAYSIA’S 2019 GDP GROWTH FORECAST AT 4.7%

The World Bank Group has maintained Malaysia’s 2019 Gross Domestic Product (GDP) growth forecast at 4.7%, driven by private consumption. Private consumption will continue to be the main driver of growth, albeit expanding at a more measured pace. Household spending will be buoyed by stable labour market conditions and income support measures such as the “Cost of Living Aid” (Bantuan Sara Hidup) payout. Gross fixed capital formation was expected to marginally increase, driven by the private sector, while public investment is expected to remain subdued in the nearer term. Going into 2020, Malaysia’s economy is projected to expand at 4.6%, and the country is expected to achieve the “high-income country” status by 2024.

(The Sun, NST & The Star, 25/04/2019)


 

ECRL PROJECT OFFERS OPPORTUNITIES TO LOCAL CONTRACTORS

The renegotiated East Coast Rail Link (ECRL) project offers plenty of opportunities to local contractors in public works which involve supplies and technical aspects. Under the new agreement, construction of Phases 1 and 2 will resume at a cost of RM44 billion, which is a RM21.5 billion reduction from the original projection of RM65.5 billion. The rail line will have a new alignment cutting its distance by 40km, to 648km and reducing its cost per kilometre from approximately RM98 million to RM68 million. The new alignment will cover Kelantan, Terengganu, Pa­­hang, Selangor, Negri Sembilan and Putrajaya.

(The Star, NST & The Edge, 20/04/2019)


LONG WAIT FOR SHORTCUT IS OVER

The 500m new extension in Jalan 1/27A connecting to Jalan Mohd Yatim Yahaya, Wangsa Maju, is expected to reduce congestion in its surrounding areas by approximately 10%. The shortcut will serve as an alternative route for motorists in Wangsa Maju to head to Setiawangsa and Jalan Genting Kelang, without having to go through the loop via Jalan 2/27A, Jalan Kilang, Jalan 34/26 and Jalan 6/27A. The project had a cost of RM46 million, which was incurred by Kuala Lumpur City Hall (DBKL).

(The Star, 20/04/2019)


 

KELANA JAYA LINE LRT TO GET 27 NEW TRAIN SETS

Prasarana Malaysia Bhd will receive 27 new train sets for the Kelana Jaya (KLAV-27) line of the Light Rail Transit system over five years, from Bombardier Hartasuma Consortium (BHC). The first of the 27 new train sets is expected to be delivered in 1Q20, while the existing two car train sets will be refurbished to four-car train sets.

(The Star & The Sun, 24/04/2019)


 

PROPOSAL FOR ECRL STATION IN NILAI IS “JUST A SUGGESTION”, SAYS TRANSPORT MINISTER

The Malaysian Transport Minister has confirmed and explained that his proposal for the East Coast Rail Link (ECRL) station in Nilai was merely a “suggestion”.

(The Edge, 25/04/2019)


 

KUALA LUMPUR SET TO BECOME A SMART CITY IN 2020

Kuala Lumpur is likely to become a smart city in 2020 when Alibaba Cloud’s “Malaysia City Brain” pilot project is completed. The initiative will utilise Alibaba Cloud’s artificial intelligence programme and big data analytics to produce real time traffic predictions using video and image recognition technologies to combat traffic congestion in the city. Kuala Lumpur is the first city to adopt such technology beyond China, on a trial basis.

(The Star, 25/04/2019)


 

PUBLIC BANK AIMS TO APPROVE RM90 BILLION LOANS IN NEXT THREE YEARS

Public Bank Bhd is targeting to approve RM50 billion in housing loans and RM40 billion in Small and Medium Enterprise (SME) loans in the next three years. The target reflects the group’s continued support of government efforts to promote home ownership and SME businesses. One of the group’s key focus areas in sustainability is responsible lending, particularly in providing financing for first-time homebuyers.

(NST, The Sun & The Star, 23/04/2019)


 

GOVERNMENT LOOKING TO BUY OUT KAMPUNG BARU: FT MINISTER

The government is looking to “buy-out” all landowners in Kampung Baru to redevelop the Malay enclave in Kuala Lumpur. The Federal Territories Minister denoted that the purchase would ensure more organised and thorough redevelopment in the area. The government is also considering options such as providing landowners with a mix of cash and in-kind payouts, such as those in the form of apartments.

(The Edge, 23/04/2019)


 

ADDITIONAL RM4.4 MILLION ALLOCATIONS FOR BASIC FACILITIES IN PAHANG

The government, through the Housing and Local Government Ministry, has approved an additional allocation of RM4.4 million for building basic infrastructural facilities in Pahang. The sum was in addition to the RM13.6 million allocation approved in early 2019 and is given to all local authorities in the state. The additional amount is for the construction of new basic facilities such as stalls and public toilets and improving existing ones to help increase the influx of tourism. The projects also include building sports facilities such as futsal courts and swimming pools.

(The Edge, 23/04/2019)


 

BANDAR MALAYSIA TO TAKE OFF AGAIN

The government has decided to proceed with the Bandar Malaysia project, which was previously shelved, as the project is expected to generate a “tremendous impact on urban development in Malaysia”. It is likely to draw major attention from international financial institutions, multinational corporations and Fortune 500 companies. The massive Bandar Malaysia project, which occupies the former airport in Sungai Besi, will include 10,000 affordable housing units, a people’s park, bumiputra participation throughout the project and priority for the use of local content and materials. Tech giants such as Alibaba and Huawei have also signalled their interest in setting up their ICT centres in Bandar Malaysia.

(The Star, NST & The Edge, 20/04/2019)


MALAYSIA SIGNS FRAMEWORK AGREEMENT TO REINSTATE THE REVIVAL OF BANDAR MALAYSIA

Malaysia has signed a framework of agreement with China to revive the former’s Bandar Malaysia project, which is a massive real estate development. The Minister of Economic Affairs represented the Malaysian government to sign the agreement with China Railway Group Ltd.

(The Star, NST & The Edge, 26/04/2019)


 

MIXED REACTION TO HIGHLAND TOWERS REDEVELOPMENT PLAN

In March 2019, the Malaysian Housing and Local Government Minister announced that the land occupied by Highland Towers would be redeveloped into a recreational park that includes 50 bungalows and that the demolition of the two blocks would be done latest by June 2019. The development of the park and bungalows on the site were not considered high-risk and are expected to benefit residents in the area. The proposal has however drawn mixed reactions from the residents. Although many agreed that the two standing blocks should be demolished, some felt that the plan would compromise security in their neighbourhood.

(NST & The Star, 21/04/2019)


TROPICANA SIGNS DEAL TO DEVELOP FOUR PLOTS OF LAND

Tropicana Corp Bhd has entered into four Joint-Development Agreements (JDAs) with Pantai Kok Resort Development Sdn Bhd, Sinaran Ramah Sdn Bhd, Suci Padu Sdn Bhd and Ibarat Indah Sdn Bhd, for proposed collaborations. The collaborations involve developing the Pantai Kok land and Pulau Rebak Kechik land in Langkawi, Kedah, and Pekan Nenas Land 1 and 2 in Pontian, Johor.

 (The Star, 25/04/2019)


 

SP SETIA & MAYBANK LAUNCH RENT-TO-OWN HOME SCHEME

SP Setia Bhd and Maybank have launched a Rent-to-Own (RTO) home ownership scheme that is referred to as “FlexKey”, which offers selected, newly launched units. FlexKey is an alternative financing scheme to assist first-time homebuyers as they will be able to enjoy the flexibility of converting rentals paid as downpayments towards purchasing a home at a locked-in price if they decide to buy the home within five years. Essentially, FlexKey is an enhanced “HouzKEY” financing scheme, where homebuyers are able to select their unit of choice and preferred location from newly launched properties offered under this scheme, rather than being limited to completed units that are available. The Setia FlexKey scheme is available for more than 20 residential projects by S P Setia in the Klang Valley, Johor and Penang, from now until Dec 31, 2019. FlexKey is applicable to the group’s mid-range residential units, which are priced between RM292,000 and RM800,000.

(The Star, 25/04/2019)


EMKAY UNIT LAUNCHES MULIA RESIDENCES

On April 13, 2019, Zen Bestari Sdn Bhd, a unit of Emkay Group, launched a 50 acre freehold development in Cyberjaya with a gross development value of RM731 million. The project will be developed over three phases, starting with “The Mulia Residences” (TMR), which comprises 383 three storey terraced houses and 417 apartments. The first phase of TMR is expected to be completed in January 2022, while Phases 2 and 3 will be completed in t subsequent years. The first phase, which opened for preview in January 2019, has reportedly registered a sales rate of approximately 70% thus far. The built-up area of the terraced houses ranges from 2,203 sq. ft. to 3,275 sq. ft. with prices starting from RM898,888.

(NST, 22/04/2019)


 

TOWARDS A HEALTHIER COMMUNITY

Gamuda Land recently signed a Memorandum of Understanding with Evolution Wellness Holdings Pte Ltd, to provide access to a host of health clubs for the buyers of its twentyfive.7 township (Phase 2). Buyers of the developer’s soon to be launched in May 2019, designer link villas (Luxura – 315 units comprising two and three storey link villas featuring five types of houses, with built-ups ranging from 2,605 sq. ft. to 3,466 sq. ft.) in its Kota Kemuning township, twentyfive.7 will receive two gym memberships for every purchased unit. The gym membership is transferable to any nominee of choice prior to activation and will last for 24 months after it is activated. With the membership, they can enjoy access to any of Evolution Wellness’ 48 gym outlets, which include Celebrity Fitness, CHi Fitness and Fitness First in the Klang Valley, Penang and Johor.

 (The Star, 26/04/2019)


 

CONDOMINIUM PROJECT SCALED DOWN

Developers of the controversial Taman Rimba Kiara condominium project have agreed to reduce the scale of the housing project. According to the Federal Territories Minister, the previous development plan, comprising eight blocks of high-end condominiums, has been scaled down to four blocks on 7.9 acres of land, compared with the original 12.1 acres. The revised plan will only involve 3.95 acres of open space taken up for the development, compared with 7.9 acres in the original plan. The revised plan includes a 29-storey block with 350 units meant for Bukit Kiara longhouse residents.

(NST, 23/04/2019)


 

CICET ASIA LAUNCHES THE FINAL TOWER OF GREENFIELD RESIDENCE IN BANDAR SUNWAY

Cicet Asia Development Sdn Bhd (Cicet Asia), unveiled the final tower of its flagship development, Greenfield Residence on a 5.57-acre piece of land. Greenfield Residence Tower C is a 36-storey development comprising 297 residential suites in several configurations whereby Type A2 is sized at 581 sq. ft., Type B2 at 764 sq. ft., Type C at 861 sq. ft., and Types D and E at 1,130 sq. ft. or 1,302 sq. ft. Each unit comes with air conditioners for the bedrooms, living and dining rooms, a washer/ dryer, kitchen cabinets with sink (voucher), cooking hood and hob, laminated flooring in the bedrooms and study rooms, and water-heaters for all bathrooms. Units are priced from RM535,000 onwards. With a total gross development value of approximately RM580 million, Greenfield Residence comprises 816 residential units and 23 lifestyle retail shops. Tower A is fully sold while Tower B has a 75% sales rate. Greenfield Residence is expected to be completed in 2021.

(starproperty.com.my, 25/04/2019)


 

GRAVIT8’S ASHINO RESIDENCES OFFICIALLY LAUNCHED

April 21 and 20, 2019, marked the official launch of Ashino Residences, the fourth and final residential tower at Gravit8. The name Ashino is inspired by the famed Ashinoko Lake in Japan. Ashino Residences reflects the best aspects of Japanese home designs and offers homeowners “the luxury of a peaceful yet modern abode”. The tower comprises 280 apartments which have six different built-up areas ranging from 871 sq. ft. to 1,237 sq. ft., with 2+1 and 3+1 bedrooms respectively.

(starproperty.com.my, 25/04/2019)


 

MRCB APPOINTS AGENTS TO SEEK OFFERS FOR MENARA CELCOM IN PJ

Developer and owner of Menara Celcom in PJ Sentral Garden City in Petaling Jaya, Selangor, Malaysian Resources Corp Bhd (MRCB), has reportedly appointed at least six real estate agents to seek Expressions of Interest (EOI) for the office building. Estimated to be worth approximately RM500 million, the 33 storey building is newly built on a 49,449 sq. ft. site. It comprises 450,000 sq. ft. in net lettable area. Developed by MRCB’s wholly-owned subsidiary, Puncak Wangi Sdn Bhd, the building has been handed over to Celcom Axiata Bhd in September 2018. Celcom has a 21-year lease (15 years with an option to extend the lease for two 3 year terms) on the building, which is now seeking tenants for 74,000 sq. ft. of space across five floors. Under the lease agreement, the base rent will be revised on the 7th, 16th and 19th years and the service charge will increase by 10% every three years. Potential tenants are informed that net rental is RM5.30 per sq. ft., and service charge is RM1.25 per sq. ft.

(The Edge, 20/04/2019)


 

IOI PROPERTIES LAUNCHES NEW OFFICE TOWER IN BANDAR PUTERI PUCHONG

IOI Properties Group Bhd has launched a Small Office Versatile Office (SOVO) tower in Puchong. “Stellar Suites”, located 50m away from the Bandar Puteri LRT is the first transit-oriented development in Puchong. The SOVO units range in size from 860 sq. ft. to 1,550 sq. ft.

(The Edge, 26/04/2019)


SEACERA TO PARTNER OCR FOR RM10 BILLION SEMENYIH DEVELOPMENT

Seacera Group Bhd’s unit, Duta Skyline Sdn Bhd, has entered into a Joint-Venture agreement with Amazing Symphony Sdn Bhd, a subsidiary of OCR Group Bhd, for a mixed development in Semenyih, with a potential gross development value of RM10 billion. The plan will entail the large scale development of landed residential homes, landed commercial shop units, high-rise strata developments, hospitals, schools, hotels and malls, on 501.5 acres of freehold land.

(The Edge, 23/04/2019)


 

KERJAYA PROSPEK SECURES RM438.8 MILLION RELATED-PARTY CONTRACT

Kerjaya Prospek Group Bhd has accepted a RM438.8 million contract through its wholly owned subsidiary, Kerjaya Prospek (M) Sdn Bhd, from Kerjaya Prospek Property Sdn Bhd in a related-party deal for the main building works of a proposed project on Jalan Puchong, Kuala Lumpur. Scheduled to start on May 2, 2019, construction works of the project are targeted for completion in November 1, 2022. The proposed project comprises Block 1 housing 25 storeys of offices and the Courtyard by Marriot Hotel. Block 2 and Block 3 will each be accommodate 53 storeys of serviced apartments. These three blocks, to be built on top of an 11 storey podium, will form part of Bloomsvale Residences, a 68-storey mixed development.

(The Sun, NST & The Star, 24/04/2019)


 

EN BLOC SALE FOR DATUM JELATEK RESIDENCES

DatumCorp International, a wholly-owned subsidiary of Perbadanan Kemajuan Negeri Selangor (PKNS), has garnered an en bloc sale of the residential component of its transit-oriented Datum Jelatek development. MyAngkasa Az Zahra Sdn Bhd signed the Sales and Purchase Agreement (SPA) with DatumCorp International for the purchase of 379 units in Tower B and Tower C residential blocks. The units will be placed under a Rent-to-Own (RTO) scheme. With the en bloc purchase, Datum Jelatek is now 70% sold, while construction for the development is 65% completed. It comprises 712 residential units spread over 5.65 acres of land, which are linked to a 319,000 sq. ft. (NLA) four-storey retail mall. There are a total of four residential towers with unit built-up sizes ranging from 557 sq. ft. to 1,657 sq. ft.

As for the mall component, the company has signed 40 new tenants equating to an occupancy rate of 60%. Slated to be opened in 1Q20, it is said to include the “first-of-its-kind retail concept that includes the brand new Pacific Marketplace and Pacific Concept Store”, the anchor tenants of the mall. The Pacific Marketplace spans circa 33,323 sq. ft. and will house a wide range of merchandise and a variety of imported products from Japan, South Korea, Taiwan and Thailand. A new fitness brand by Evolution Wellness Holdings will also be launched in the mall with announcements expected to be made soon. The mall will also have an Event Hall with a seating capacity of 600 guests, set to be managed by a restaurateur and wedding caterer.

(The Edge, 25/04/2019)


 

SKYWORLD ACQUIRES LAND FROM DBKL FOR RM176 MILLION DEVELOPMENT

SkyWorld Development Group has purchased a 13.6 acre site located in Setiawangsa, Kuala Lumpur, for RM176 million, from Kuala Lumpur City Hall (DBKL). The developer‘s subsidiary, SkySierra Development Sdn Bhd has entered into a sale and purchase agreement with DBKL to acquire the land. SkyWorld will also assist to relocate the existing sports complex owned by Majlis Sukan Negara (MSN) to Bandar Baru Nilai. A mixed project known as SkySierra will be developed on the site. The first phase of the development, which comprises residential properties, will have a gross development value of RM776 million, while commercial and business components will be developed in Phase 2. “The Valleys”, the first phase of SkySierra, is expected to be launched in 2H19 (pending approvals) and is expected to take approximately four years to complete. It will offer 1,309 residences with a low entry price, according to the developer.

(The Edge & The Star, 24/04/2019)


 

GOMBAK SELANGOR QUARTZ RIDGE TO BE GAZETTED AS HERITAGE SITE

The Tourism, Arts and Culture Ministry is gazetting the Gombak Selangor Quartz Ridge (PKGS) which spans 14km, as a national heritage site under the National Heritage Act 2005 (Act 645), which would involve 210 plots of land. The ministry has also submitted documents on the PKGS to the tentative United Nations Educational, Scientific and Cultural Organisation (Unesco) heritage list, for it to be recognised as a world heritage site. The PKGS included the Hulu Gombak Tambahan 1 Forest Reserve (Bukit Batu Tabur), which has already been gazetted as a Permanent Forest Reserve under Section 10 of the National Forestry Act 1985 (Adoption) as a state park.

(NST, 21/04/2019)


 

GOVERNMENT EYES RM1.8 BILLION FROM MEDICAL TOURISM

The government aims to generate RM1.8 billion in healthcare earnings through medical tourism in 2019. This is an increase of 20% compared with the 2018 figure of RM1.5 billion. The number of healthcare travellers has more than doubled from 643,000 in 2011, to 1.2 million in 2018.

(The Sun, 26/04/2019)


PERAK GOVERNMENT WILL NOT CLOSE MAPS

The Movie Animation Park Studios (MAPS), a joint venture project by a subsidiary of the Perak government, will not be closed as it provides job opportunities for the locals. Reportedly, it would incur more losses to the developer if the park was closed down. The Perak government has taken several measures to make it cost-efficient, such as free admission to the park with visitors only paying for the games of their choice which has been effective.

(The Edge & The Star, 23/04/2019)


NEGRI LOOKING TO BUILD SECOND SPECIALIST HOSPITAL

The Negri Sembilan government plans to build a second specialist hospital in the state to ease congestion at the existing one. The state government had made its proposal to the Health Ministry and is awaiting its approval.

(The Sun & The Star, 26/04/2019)


MEGA PROJECT TESTS GOVERNMENT’S NEW HOUSING POLICY

The revived “Bandar Malaysia” will be a test bed for the Pakatan Harapan government’s new housing policy, with 10,000 units of affordable homes to be built on prime land in Kuala Lumpur. The Malaysian Housing and Local Government Minister denoted that along with great facilities and affordable homes, there would be a 148 acre park at Bandar Malaysia. The land (on which the affordable homes are to be built) belongs to the government. These 10,000 units of affordable homes are the government’s commitment to cater for the lower income groups of M20, B40 and first-time house buyers. The housing units will be built vertically but are not categorised as high-rise. These units will be at least 900 sq. ft. for families with children and 550 sq. ft. for couples without children, and singles. The price will be capped at RM300,000 on a “rent-to-own” basis. Bandar Malaysia covers an area of 484 acres and is situated at the old airport site in Sungai Besi, just 7km from the Kuala Lumpur City Centre. It will be developed by a joint venture between a consortium comprising Iskandar Waterfront Holdings Bhd and China Railway Engineering Corp Sdn Bhd (IWH-CREC) and the government, on a 60:40 ratio basis.

 (The Star, NST & The Edge, 20/04/2019)


 

UNSOLD COMPLETED RESIDENTIAL PROPERTIES UP 30.6% IN 2018

In 2018, Malaysia recorded a total of 32,313 unsold completed units of residential properties valued at about RM19.8 billion. This is a 30.6% increase from 24,738 units recorded in 2017, according to the National Property Information Centre’s Property Market Status Report for 2018. The highest number of unsold completed units were in Johor with 6,066 units, a 38.6% y-o-y increase from 4,736 units in 2017, worth RM4.6 billion. Perak had the second highest number of “overhanging” units last year with 5,367 units unsold compared with 2,276 units in 2017, worth RM1.6 billion. Selangor registered 4,693 unsold units in 2018, up from 3,713 units. They are worth approximately RM4.2 billion, making it the state with the third highest number of “overhanging” units.

Penang was in fourth with 3,502 unsold units, with an estimated value of RM3 billion. However, this is a decline from the 3,916 units that was recorded in 2017. Following closely is Kedah with 3,311 unsold homes, worth RM889 million. The state had experienced a decrease from the 3,783 unsold units recorded in 2017. Kuala Lumpur came in next as the capital city experienced a rather large spike in unsold properties with 2,769 units valued at RM2.7 billion, from merely 929 units in 2017. Meanwhile, Pahang and Negeri Sembilan recorded 1,405 and 1,046 unsold units, worth RM500 million and RM 610 million, respectively. Melaka has a total of 759 unsold units (worth RM268 million) and Terengganu has 402 unsold units (worth RM139 million). Kelantan and Perlis both have low numbers of unsold properties with merely 139 and 65 units respectively.

(The Edge, 24/04/2019)


 

NEW LAWS COVERING PROPERTY SECTOR IN THE WORKS

The Housing and Local Government is working on developing four Acts related to the property sector, which it hopes to table in two years. The Acts involved are for residential tenancy, commercial buildings, wakaf land and a review of the Housing Development Act 1966. The ministry is reviewing the Housing Development Act 1966, in areas involving the compound, buyer’s rights, extension of time and self-regulation with less government interference. The Residential Tenancy Act will cover all landlords, tenants and tenancy agreements nationwide. Currently, there is no Act to govern the residential rental market and there is no tribunal for tenancy disputes.

(The Sun, The Star & The Edge, 26/04/2019)


 

100% REBATE FOR LOW, MEDIUM-COST BUILDING MANAGEMENT OFFICES

Subang Jaya Municipal Council (MPSJ) is offering a 100% rebate on assessment fees for management offices in low and medium cost flats or apartments under its municipality. While the building operator will benefit from full rebates for running the office, it will also attain 50% rebate for the kindergartens and halls under its management. The rebates on these common properties have been approved by the Selangor government, for units that cost less than RM250,000. MPSJ has been chosen as the pioneer local council to introduce the rebate, which will then be extended to other local councils in the state. In total, RM25,552.86 in rebates will be given in a year to the current 51 eligible management offices, 44 kindergartens and 3 halls. To apply for the rebate, the Joint Management Body or Management Corporation must register with MPSJ and have no outstanding arrears with the council. The rebates will be effective from the year of application.

(The Edge, 26/04/2019)


 

FIREFLY RESUMES SELETAR FLIGHTS

Seletar Airport may not be as busy as Changi Airport, but travellers can opt for more convenience due to its smaller size as Malaysian budget airline, Firefly, resumed its services to the island republic. The airport will adopt the new Global Positioning System (GPS) based instrument approach procedures and the system is expected to be rolled out within the next 6 to 12 months, according to the Malaysian Transport Minister.

(The Star, 22/04/2019)


 

MALAYSIA COMMITTED TO JB – SINGAPORE RAIL PROJECT

Malaysia is committed in continuing the Johor Baru – Singapore Rapid Transit System Link (RTS) project despite asking for a six month extension from Singapore, according to the Malaysian Transport Minister. Both sides are currently working on a supplemental agreement as Malaysia looks into options to further reduce costs. The project, which was signed in early 2018, was initially scheduled for construction in 2019 and is expected to be completed by December 2024.

(The Star & The Edge, 22/04/2019)


 

FIRST IBS-BUILT HOMES IN FOREST CITY COMPLETED

Forest City has begun handing over two serviced apartments, Starview Bay (7,186 units) and Regalia Park (3,304 units), to its buyers. These are pilot projects that utilise IBS (Industrialised Building System) technology and components supplied by the project developer’s in-house IBS plant. The new units are similar to the first phase of residential units handed over in 2018 and feature smart home systems such as facial recognition for access, intelligent mailbox that notifies home owners of mail arrivals and a centralised security control system.

(The Edge, 24/04/2019)


 

SOGO SOUTHKEY SET TO BE KEY SHOPPING HAVEN IN SOUTHERN REGION

The new SOGO store at “The Mall Mid Valley Southkey” is set to be a major shopping attraction in the southern region of Peninsular Malaysia. This Johor Bahru outlet is the third Sogo store in the country and the first outside of the Klang Valley, after Sogo Jalan Tuanku Abdul Rahman in Kuala Lumpur and Sogo Central i-City Shah Alam. The store spans 200,000 sq. ft. of space and has a variety of brands. By 2022, Sogo should have expanded its total network to six stores, with a total retail space of 2.4 million sq. ft., which includes Prai Megamall in Penang, Kuala Terengganu, and the first Seibu Department Store at the Tun Razak Exchange Lifestyle Precinct in Kuala Lumpur.

(The Edge, 25/04/2019)


 

RICS

All rights reserved (C) 2016

Jones Lang Wootton