Week 38 - 2026
SELANGOR ALLOCATES UP TO RM20M FOR LEGACY STRATA OWNERSHIP ISSUES
The Edge, 18/09/2026
The Selangor government has allocated up to RM20 million across 2025 and 2026 to resolve longstanding strata ownership issues often complicated by negligent developers and administrative oversights from the past by thoroughly collecting and updating property owner information. Selangor Menteri Besar Datuk Seri Amirudin Shari highlighted that processing these large-scale developments requires cooperation among state agencies, developers, and local communities. Additionally, the state has separately channeled RM5.68 million in 2026 through the Selangor Housing and Property Board for various strata community empowerment initiatives, including repair works under the Ceria Scheme, apartment revitalisation programs, and local authority community projects.
OIB LAUNCHES GARDENS IDAMAN IN SELANGOR
The Sun, 17/09/2026
Oriental Interest Bhd (OIB) has launched Gardens Idaman in Rawang, an 11.226-acre affordable housing development under Selangor's Rumah Idaman programme featuring 616 semi-furnished, 1,002 sq ft apartment units priced between RM250,000 and RM270,000, with a target completion date of 2030. Boasting a GDV of RM163.8 million, the gated and guarded community stands out for achieving Provisional GreenRE Bronze certification, integrating sustainable design elements like energy- and water-efficient features to cut operational carbon emissions and provide future-ready living for first-time homebuyers.
HERO MARKET SET TO ANCHOR MASTERTON’S 20.97-ACRE VTOWN IN PJ
The Edge, 12/09/2026
Masteron Sdn Bhd has signed an MoU with Hero Market to anchor its 20.97-acre mixed development, VTown, in PJS5, Petaling Jaya. Under the agreement, Hero Market will open a 20,000 sq ft purpose-built standalone store with its largest fresh-market section in 2028, alongside Levure Bakery and Manchu Butcher Shop.
NEW RM10 MIL KARTING CIRCUIT IS COMING TO DESARU COAST
The Edge, 18/09/2026
Arina International Holding Pte Ltd, the developer behind Singapore's KF1 Kranji circuit, has been appointed to build and operate a new RM10 million karting circuit at Desaru Coast in Johor, with completion expected by the end of the year. Located at Riverside as part of The Sports Arina development, the project will feature a competitive outdoor karting circuit with a timing system, an air-conditioned indoor circuit for children, and upcoming padel and pickleball facilities, aiming to attract recreational drivers and enthusiasts from both Malaysia and Singapore.
IJM LAND UNVEILS 145-UNIT MERIONE RESIDENCES IN PENANG
The Edge, 14/09/2026
IJM Land Bhd has unveiled Merione Residences, a 145-unit semi-furnished residential development occupying Levels 11 to 39 of its 39-storey mixed-use project at The Light Waterfront Penang, following the 100% take-up of its commercial component, Merione Grand. Spanning units from 1,055 to 1,206 sq ft with exclusive facilities on Level 10, the development features strategic connectivity including a planned direct covered pedestrian link to the future Mutiara Line station, proximity to the Penang Bridge and expressway, and convenient access to surrounding retail, convention, and transport networks.
SILICON ISLAND: MORE THAN 480 ACRES RECLAIMED - ASSEMBLYMAN
The Edge, 18/09/2026
More than 480 acres have been reclaimed for Penang's 2,300-acre Silicon Island project, with RM1.9 billion invested to date by Silicon Island Development Sdn Bhd (SID), a joint venture between the Penang government and Gamuda Bhd. Entering its fourth year since reclamation which began in September 2023, the development has rapidly expanded to include land for a planned Mutiara Line light rail transit (LRT) depot and the 720-acre Green Tech Park designed to ease industrial land constraints. Slated for completion over a 10 to 15-year period alongside a RM390 million marine viaduct connecting to the island by December 2028, the long-term project is projected to attract RM74.7 billion in investments, contribute RM1.1 trillion to the GDP, and create approximately 220,000 jobs.
PENANG ADDS 1,133 HOMES TO RENT-TO-OWN SCHEME
The Edge, 15/09/2026
Penang has expanded its rent-to-own (RTO) programme by allocating RM49.26 million to purchase 1,133 new homes across five projects including Mak Mandin Indah, Vista Perdana, Pekatra Indah, Harmoni Vista, and Pangsapuri Pinang Setia, bringing the state's total RTO inventory to 13,277 units towards its 2030 goal of 22,000 units. Managed by the Penang Housing Board (LPNPP), the scheme helps lower-income households facing bank financing hurdles secure homes with monthly payments starting from RM250 over a 15-year period. Additionally, the state's broader Rumah MutiaraKu (RMKu) affordable housing initiative has achieved 176,457 units, or 80.2% of its 220,000-unit target for 2030, reinforcing Penang's commitment to flexible and inclusive housing solutions.
RESERVOIR LINK INKS PPA WITH SARAWAK STATE OWNED FIRM FOR RM570 MIL SOLAR PROJECT
The Edge, 17/09/2026
Reservoir Link Energy Bhd's indirect wholly-owned subsidiary, RL Kenyalang Solar Sdn Bhd, has signed a 30-year power purchase agreement with Syarikat SESCO Bhd to build, own, and operate a 200MWac solar photovoltaic project in Tinjar, Sarawak, with an estimated development cost of RM570 million. Spanning roughly 600 acres, construction for the group's largest single renewable energy project is targeted to begin in January 2028 ahead of commercial operations by December 31, 2029, which will see the plant export about 401GWh of electricity annually to the Sarawak grid.
IOI PROPERTIES COMPLETES S$2.47B ASIA SQUARE TOWER 2 DEAL
The Edge, 18/09/2026
IOI Properties Group Bhd, through its subsidiary IOI Marina View Pte Ltd, has completed its acquisition of MVKimi (BVI) Ltd the indirect owner of Singapore's 46-storey Asia Square Tower 2 for a total cash outlay of S$2.47 billion. Finalized following the settlement of purchase consideration and shareholder loan repayments, the transaction grants the property developer ownership of the prime central business district development, which spans approximately 773,000 sq ft of Grade A offices, retail space, and parking facilities.
