Week 40 - 2024
TOLL COLLECTION ON SECTION 1 OF WCE TO COMMENCE ON 30TH SEPTEMBER 2024
The Edge, 28/09/2024
The toll collection for Section 1 of the West Coast Expressway (WCE), which connects the Banting Interchange to the South Klang Valley Expressway (SKVE) Interchange, will commence on 30th September 2024. The 12.5km stretch, which was officially opened on 31st August 2024, has been operating toll-free for a month. The WCE project involves the development of a 233km tolled highway from Banting, Selangor to Taiping, Perak. Seven out of the highway's 11 sections have been opened for traffic. The construction of Section 2 (SKVE–Shah Alam Expressway or Kesas) has been completed and is currently at the inspection stage. The section is targeted to be opened by the end of 2024. the construction for the final three sections namely, Section 3 (Kesas–Federal Highway Route 2), Section 4 (Federal Highway Route 2–New North South Klang Straits Bypass) and Section 7 (Assam Jawa–Tanjung Karang) is currently ongoing.
TANCO GETS UNCONDITIONAL NOD FROM MARINE DEPT TO DEVELOP CONTAINER PORT IN PORT DICKSON
The Edge, 02/10/2024
Tanco Holdings Bhd’s 79%-owned subsidiary, Midports Holdings Sdn Bhd (MHSB), had received the nod from the Malaysian Marine Department (MMD) to develop a container port in Port Dickson, Negeri Sembilan. The green light was received through a full and unconditional approval letter by the MMD. The approval includes permission for all marine activities as per the port project. The port is to be developed within a 480-acre land bank owned by Tanco, according to its official website. It will feature a 1.8km jetty, terminal and container handling area measuring 809,300 sq. m. On 6th June 2024, MHSB signed a memorandum of understanding with China’s CCCC Dredging (Group) Co Ltd to further advance the project.
IJM LAND TO LAUNCH FIRST PHASE OF BATIQ HOMES IN SEREMBAN 2 IN 1Q25
The Edge, 03/10/2024
IJM Land Bhd will launch the first phase of Batiq @ S2 Heights Aman in Seremban, Negeri Sembilan, with 82 two-storey linked homes in 1Q25.The overall 20-acre Batiq project will have 177 units of linked homes with a gross development value (GDV) of RM173 million. With a GDV of RM80 million, Phase 1 of Batiq's 82 linked homes will have built ups ranging from 2,113 to 2,183 sq. ft. and a land area of 28 ft by 60 ft. Each unit will have four bedrooms and four bathrooms. The homes will come equipped with smart home systems, digital door locks, an EV isolator point and more. Each residence features a 10ft private garden. The units will be priced from RM878,800.
TCS SECURES RM117 MILLION CONSTRUCTION CONTRACT FROM S P SETIA
The Edge & The Star, 01/10/2024
TCS Group Holdings Bhd has secured a contract worth RM116.58 million from a subsidiary of S P Setia Bhd. It involves building and related infrastructure works for 561 units of affordable housing as part of the Setia Bayuemas project in Klang, Selangor. The construction period is 28 months, commencing in October 2024, with expected completion by February 2027.
SELANGOR TO BUILD 60,000 AFFORDABLE RUMAH IDAMAN UNITS BY 2027
The Edge, 28/09/2024
The Selangor government aims to build 60,000 affordable housing units under the Rumah Idaman initiative by 2027. The momentum of house construction under the initiative is going well, with 40,000 units currently in the process of awaiting related approval. The initiative offers units for Malaysians from the bottom 40% and middle 40% household income groups, especially first-home buyers and small families who want to establish themselves in the property market. The housing project under Rumah Idaman offers an attractive package for buyers, because the units are spacious and equipped with air conditioning.
TA GLOBAL TO LAUNCH CLOUTHAUS RESIDENCES IN 4Q24
The Edge, 30/09/2024
TA Global Bhd plan to launch CloutHaus Residences, its latest mixed-use development in 4Q24. The project, located in Jalan P Ramlee in the Kuala Lumpur city centre (KLCC), has been open for registration since end-September 2024. Comprising components such as a hotel, private residences and serviced apartments, CloutHaus Residences will comprise two towers, a 58-storey Tower 1 and a 66-storey Tower 2 on a 2.259-acre freehold commercial-titled tract. Tower 1 will have 242 units of private residences and a 548-key hotel (to be named Paradox KLCC), while Tower 2 will house 615 serviced apartments. Tower 2 will feature units from studio to three-bedroom apartments with built-up areas of between 549 and 1,216 sq. ft., priced at an average of RM2,900 per sq. ft. Further details of the private residences in Tower 1, which are for sale, will be available later.
TWO TOWERS OF ASTRUM SHAH ALAM BY SETIA AWAN GROUP ACHIEVE 80% BOOKING RATE
Starproperty.com, 01/10/2024 & The Edge, 03/10/2024
Setia Awan Group launched its second transit-oriented development (TOD) named Astrum Shah Alam in Shah Alam on 29th September 2024, with an 80% booking rate for two out of three towers. Spread across a 3.47-acre tract, the TOD project will be situated 20m away from the under-construction Dato Menteri LRT station, which is part of the ongoing light-rail transit (LRT) 3 project. Astrum Shah Alam will comprise three 32-storey towers with a total of 1,252 units, namely Horizon (407 units), Metro (451 units) and Apex (394 units). The built-up areas of the units range from 570 to 1,065 sq. ft. with the selling prices are from RM270,000 to RM802,000.
There will be 24 units of two- and three-storey retail lots with built up areas of between 3,358 and 6,996 sq. ft. while the selling prices are from RM3.618 million to RM8.039 million. Seven out of the 24 lots will be retained and managed by the developer as a halal eatery boulevard. The entire development is expected to be completed in 3Q28.
ECONPILE SECURES RM33 MILLION PILING AND SUBSTRUCTURE JOBS IN KL
The Edge & The Star, 03/10/2024
Econpile Holdings Bhd has secured two contracts from Sg Besi Construction Sdn Bhd, totalling RM33.3 million, to carry out piling and substructure works for residential and office buildings in Kuala Lumpur. The first contract, worth RM21.3 million, is related to a 51-storey serviced apartment with 653 units in Lorong Raja Uda 2, Kuala Lumpur for Lofthill Development Sdn Bhd and is expected to be completed within 10 months from 2nd October 2024. The second contract, valued at RM12 million, is for a 59-storey office building with 350 units in Jalan Mayang, Kuala Lumpur for Armani Development Sdn Bhd, and will be completed within 12 months from the commencement date, which will be announced later.
OIB GROUP PARTNERS PERMODALAN NEGERI SELANGOR TO LAUNCH PUTRA IDAMAN AFFORDABLE HOMES, ALSO UNVEILS SAUJANA IDAMAN
The Edge & Starproperty.com 01/10/2024
Oriental Interest Bhd launched its latest affordable housing project named Putra Idaman at Desa Pinggiran Putra on 28th September 2024, in collaboration with Permodalan Negeri Selangor Bhd (PNSB), through its subsidiary PNSB Construction Sdn Bhd. It also unveiled another upcoming affordable housing project with over 800 units, named Saujana Idaman in Selangor. Putra Idaman spans 6.7 acres and is targeted for completion in 2028. The project will feature two apartment blocks with a total of 502 units with built-up area of 1,002 sq. ft., with three bedrooms and two bathrooms. The units will be priced at RM250,000 and will be semi-furnished with wardrobes, air conditioners, water heaters, a television with cabinet, kitchen cabinets, and a refrigerator. Two parking spaces will be allocated to each unit. The Rumah Idaman Putra Idaman and Saujana Idaman projects are two joint venture projects with OIB, with an estimated total of 1,360 units out of the 5,783 units planned for the Rumah Idaman development in the Sepang district.
SIME DARBY PROPERTY TOPS OUT SERASI RESIDENCES
The Sun, 03/10/2024
Sime Darby Property Bhd celebrated the topping-out ceremony of Serasi Residences, a Transit-Oriented Development (TOD) at Putra Heights Sentral and the project is anticipated for completion in February 2027. The development comprises a total of 1,428 freehold serviced apartments within three blocks and is complemented by 10 strata retail lots, all of which are sold out. Serasi Residences offers a range of unit types from 1+1 one-bedroom to three-bedroom apartments. The development was launched in phases, commencing from February 2023. The initial phase of 507 units in Block 1 achieved a 100% sales rate within just an hour of launch and nearly 300 units in Block 2 were reserved in a single day. Serasi Residences continues to offer the Servis Apartmen Mampu Milik (SAMM) units, which are part of an affordable housing scheme managed in collaboration with Lembaga Perumahan dan Hartanah Selangor.
SUNWAY TO BUY TAMAN TAYNTON LAND FOR RM320 MILLION FOR MIXED DEVELOPMENT
The Edge & The Star, 03/10/2024
Sunway Bhd plans to buy a 17.58-acre prime land in Taman Taynton, Kuala Lumpur, for RM320 million, earmarking it for mixed-use development. The land had an estimated gross development value of RM3.2 billion, and is situated adjacent to Sunway Alishan, a residential development by the group. The proposed development will integrate “opulent” serviced apartments with a “wellness-focused” retail podium featuring health and wellness clinics. Sunway’s wholly owned subsidiary, Sunway Melawati Sdn Bhd, is acquiring the land from Viva Impian Sdn Bhd.
TROPICANA’S EDELWEISS DEVELOPMENT CELEBRATES 100% SALES RATES AND TOPPING OFF MILESTONE
The Edge, 04/10/2024
Tropicana Gardens, an integrated and transit-oriented development (TOD) at Tropicana Indah, celebrated a 100% sales rates and a topping event for Edelweiss Serviced Residences, SOFO and Shoppes. The seventh phase of Tropicana Gardens by Tropicana Corp Bhd is also joint venture with The Selangor State Development Corp (PKNS). Upon completion, Edelweiss will receive a GreenRE Silver rating certification, adding another green building within the Tropicana Gardens development. The quality of this development will also be assessed by a workmanship certification body, Quality Assessment System in Construction (QLASSIC). The development has direct connectivity to the Surian MRT station as well as its robust ecosystem offering work-live-learn-shop-play in one location. The residential component of Edelweiss has achieved 100% sales rate and the Shoppes has already achieved 60% sales rates.
Edelweiss Serviced Residences and SOFO was launched in October 2020 while the Edelweiss Shoppes was launched just recently. Strategically connected to NKVE, LDP, DASH, Penchala Link and the Sprint Highway, this Edelweiss Shoppes is limited to 38 units and will span over two floors. Each unit was planned to cater to the different commercial needs and will measure anywhere from 250 sq. ft. to 2,433 sq. ft.
SAB PURCHASES LAND IN SELANGOR FOR RM19 MILLION
The Star, 01/10/2024
Solid Automotive Bhd (SAB) is acquiring a piece of leasehold land measuring 43,487 sq. ft. in Batu Caves, Selangor from South East Asia Plastic Industries Sdn Bhd for RM18.91 million. SAB said the land consists of a single-storey factory and two-and-a-half-storey office. The proposed acquisition is consistent with the strategic plan of the company and its subsidiaries to operate in a more efficient manner, as the acquisition is expected to facilitate the company’s consolidation plan. The land offered good accessibility as it is located at one of the main automotive aftermarket parts hubs.
TITIJAYA INKS LONG-TERM RENTAL AGREEMENT WITH PRESS METAL AT HALO CENTRALISED LABOUR QUARTERS
The Edge, 02/10/2024
Titijaya Land Bhd has secured Press Metal Aluminium Holdings Bhd as the first customer for its centralised labour quarters (CLQ) project called HALO (Housing, Accommodation and Lodging) in Klang Sentral, Selangor. Titijaya, through its subsidiary Titijaya PMC Sdn Bhd, has signed a memorandum of understanding (MOU) with PMB Aluminium Sdn Bhd, a subsidiary of Press Metal, in setting up the foundation for a long-term rental agreement between both parties. Under the MOU, PMB Aluminium will rent part of HALO for a minimum period of three years, accommodating at least 350 of its workers. HALO will be a 10-storey, purpose-built labour quarters development, with a capacity to house 3,000 workers. Construction is expected to commence in 4Q25 and complete in 2Q26.
SIME DARBY PROPERTY COMMENCES CONSTRUCTION OF MALAYSIA’S FIRST GOOGLE HYPERSCALE DATA CENTRE IN CITY OF ELMINA
The Edge, NST & The Star, 03/10/2024
Sime Darby Property Bhd has broken ground for the hyperscale data centre that it will build for Google. Google’s inaugural data centre at Elmina Business Park marks the first and only of its kind to-date by a developer in Malaysia. The data centre will mark the business centre’s first major step towards becoming Greater Klang Valley’s Digital Hub, designed to support the digital economy. This development is expected to attract additional data centres, large-scale manufacturers and small and medium enterprises, as well as create 35,000 job opportunities to meet operational demands.
CARGO RAIL LINE TO JOHOR PORT HALTED
The Star, 28/09/2024
A cargo-only rail line operated by KTM Bhd that moves thousands of containers each month has been ordered to suspend services by the Land Public Transport Agency (APAD). The order for the 40km stretch between Kempas Baru to Johor Port in Pasir Gudang came following an inspection by the regulator. The track is in poor condition, necessitating slower train speeds due to a high risk of derailment if the cargo moves too quickly. The track has been in use since the 1980s and has been rehabilitated from time to time. This suspended stretch is a crucial link connecting the Port of Tanjung Pelepas (PTP) with Johor Port, while the other segment from Kempas Baru to PTP measures 31km.
PENANG ISLAND, SEBERANG PERAI LOCAL PLANS TO BE GAZETTED IN 2025
The Edge, 04/10/2024
The Penang Island and Seberang Perai local plans, which will guide future development on the island and in Seberang Perai until 2030, will be gazetted in 2025. The draft of the Seberang Perai local plan prepared by the Seberang Perai City Council (MBSP) has been completed, while the local plan for the island by the Penang Island City Council (MBPP) is expected to be ready by the end of 2024. The Penang Island local plan had to be redone after several issues were raised when the previous draft was exhibited and MBPP has appointed a consultant to address these concerns. The plan is expected to be completed by the end of 2024 and will be exhibited for public consultation. As for the Seberang Perai local plan, it has been completed; however, both plans will be gazetted separately in 2025.
SINGAPORE-BASED EQUALBASE BREAKS GROUND FOR RM220 MILLION WAREHOUSE IN PENANG
The Edge, NST, 28/09/2024
Singapore-based Equalbase Development Pte Ltd, which specialises in the development and management of industrial assets, held the groundbreaking ceremony of Valdor II, a RM220 million multi-storey warehouse in Penang, on 26th September 2024. Logistics company DSV has been confirmed as the anchor tenant of Valdor II. Valdor II, which will have a gross floor area of 620,000 sq. ft, is expected to be completed in 2025. Valdor II will be built with low-carbon construction materials and energy-efficient technologies. It is also targeted to achieve a LEED Gold and GBI Gold certification. It will also be accessible to other growing industrial areas such as Batu Kawan and Bayan Lepas.
CENTRAL GLOBAL ACQUIRES OFFICE SPACE FOR RM19.5 MILLION
The Edge & The Star, 02/10/2024
Central Global Bhd is acquiring a four-storey office and showroom space, measuring approximately 48,690 sq. ft., at Lot 12, SEDCO Industrial Estate, Lorong Tomato, Jalan Kolombong, Kota Kinabalu, Sabah, for RM19.5 million. The transaction was executed by CGB's wholly owned subsidiary, RYRT International Sdn Bhd, through a sale and purchase agreement with Sribina Resources Sdn Bhd. The proposed acquisition is part of its strategy to strengthen its position as a leading construction group in East Malaysia, particularly in Sabah.
The acquisition will also enable the group to cross-sell and expand its product offerings by stocking them in the building. Additionally, the property will serve as the group's headquarters, warehouse and storage facility for vehicles and machinery after project completion.
PM AGREES TO MIRI, TAWAU AIRPORTS EXPANSION, SAMARAM-KAPIT ROAD AND BYPASS
The Edge, 29/08/2024
Prime Minister (PM) has agreed for the Miri Airport to be further expanded, following the increased number of passengers using it. The growth rate of the number of airport users had increased by almost 90% compared to 2023, and this justified the need for the infrastructure to be further enhanced. The Tawau Airport is considered small and not included in the priority list, but it has now become an attraction among tourists from South Korea, Japan and China. So, it has to be expanded immediately.
PM has approved the construction of the 72km-long Samaram-Kapit road, which will help to ease traffic jams in the town. The cost of the project is estimated to be over RM500 million. PM has also approved the construction of a by-pass from the Kapit government complex to Jalan Airport.
