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PKNS to launch 12 property projects this year

Extract from The Star (12/1/2016)

KUALA SELANGOR: The Selangor State Development Corporation (PKNS) will launch 12 new property projects this year, said chief executive officer Noraida Mohd Yusof.

The projects, to be developed in nine locations, would involve 1,157 units of semi-detached houses, affordable houses and commercial components with projected sales of RM800mil, she said.

“The nine locations that have been identified are Kota Damansara, Rasa, Kota Puteri, Bernam Jaya, Antara Gapi, Selayang, Shah Alam, Kuala Selangor and Selangor Cyber Valley. – Bernama

Gadang in JV to develop RM160mil residential project

Extract from The Star (11/1/2016)

KUALA LUMPUR: Gadang Holdings Bhd is teaming up with Perikatan Progresif Sdn Bhd (PPSB) to develop town houses with an estimated gross development value of RM160mil on a 17.5-acre land in Puchong, Selangor.

In a filing with Bursa Malaysia, the construction and property development company said its indirect unit Tema Warisan Sdn Bhd had inked a joint-venture agreement with PPSB, the landowner, to develop the leasehold land at Taman Putra Perdana.

The land is currently charged by PPSB to Affin Bank Bhd as security for banking facilities.

PPSB will be entitled to 32% of the net development value or RM42.688mil, whichever is lower. Of the entitlement, 15% will be payable in-kind via the contra of residential units within the development.


Versatile Creative to explore feasibility of RM110 million development in Johor

Extract from The Sun Daily (11/1/2016)

PETALING JAYA: Versatile Creative Bhd’s sub-subsidiary Versatile Smart Properties Sdn Bhd (VSPSB) yesterday entered into a memorandum of understanding (MoU) with Double Action Ventures Sdn Bhd (DAVSB) to jointly explore the feasibility of developing medium-cost apartments in Johor Baru, Johor with an estimated gross development value (GDV) of RM110 million.

Upon entering into the MoU, VSPSB will conduct an evaluation on the viability and feasibility of the construction project and a due-diligence exercise on DAVSB. Subject to satisfactory results being obtained from the feasibility study and the due diligence exercise, the parties will proceed to execute the necessary definitive agreement.

DAVSB intends to develop medium-cost apartments on a piece of alienated land in Johor Baru measuring 3.183ha.

It aims to do this by working together with VSPSB, whose core business activity is in property development and building construction, and the ability to procure the necessary expertise and resources.


New hopes power up Sarawak’s corporate sector in 2017

Extract from Borneo Post (8/1/2016)

As we enter 2017 with renewed optimism and hope, there are new opportunities and challenges waiting to be embraced.

For Sarawak, more infrastructure projects are going to be implemented to bridge the gap between urban and rural developments.

This will provide more opportunities for businesses and enhances trades between towns and cities throughout Sarawak.

Given the challenging outlook for the global economy, the Sarawak government has embarked on the Socio-Economic Transformation Plan (SETP) to accelerate said growth.


IWCity plans mixed development on Iskandar land

Extract from The Star (9/1/2016)

JOHOR BARU: Iskandar Waterfront City Bhd (IWCity) plans to undertake a mixed-development project on two parcels of land being acquired by the company in Iskandar Malaysia.

Chief executive officer and executive director Calvin Wong said the land’s strategic location off Jalan Sungai Danga here fronting the Johor Baru Coastal Highway would be its strong selling point.

Located about 10km North-West of Johor Baru city centre, the land parcels are also accessible via Jalan Tun Abdul Razak, Skudai Highway and Perling Expressway before heading to Johor Baru Coastal Highway.

“We are fortunate to get the much-sought-after land parcels within the Sungai Danga vicinity below market prices,’’ he told StarBiz after the company’s EGM.


LBS Bina to launch 13 new projects with GDV of RM2.35 billion this year

Extract from Borneo Post (6/1/2016)

KUALA LUMPUR: LBS Bina Group Bhd is set to launch 13 new projects this year with a cumulative gross development value (GDV) of RM2.35 billion, constituting approximately 5,543 units, nationwide.

Group managing director Tan Sri Lim Hock San said on the back of the new launches, LBS Bina targeted to achieve RM1.5 billion in sales this year versus  RM1.2 billion recorded in 2016.

“We are looking at our projects in Ijok (Selangor), Bandar Saujana Putra and also Kulai (Johor) to contributor to our sales target,” he told reporters here yesterday on the outlook for the group in 2017.

He said about 70 per cent or 4,284 new units to be launched, mostly within the Klang Valley this year, would consist of affordable homes priced below RM500,000.


iProperty appoints Haresh GM Malaysia, Singapore

Extract from Bernama (5/1/2016)

KUALA LUMPUR: iProperty Group has appointed Haresh Khoobchandani as General Manager (GM), Malaysia and Singapore.

In a statement today, iProperty said, Haresh has over 20 years of sales and marketing expertise in this position, including extensive experience driving expansion in the Asia-Pacific.

"Previously, Haresh was GM at Microsoft Business Solutions for Asia-Pacific in Singapore and before joining Microsoft, he has worked in several industries across the service, retail and distribution sectors.

"He is a distinguished public speaker and commentator with engagements including TEDx Chiang Mai, Bloomberg Asean Business Summit in Bangkok and the Harvard College in Asia Program.


Housing Ministry will review provisions under Strata Management Act - Noh

Extract from Bernama (5/1/2016)

SHAH ALAM: Provisions under the Strata Management Act 2013 will be reviewed to require housing developers to settle all liabilities before handing over the apartments to Joint Management Bodies (JMB).

Urban Wellbeing, Housing and Local Government Minister, Tan Sri Noh Omar said this is important since there is no provision under the Act which says that developers must handover the apartments to JMB with zero liability.

"I received many complaints from JMB of low-cost and medium-cost apartments that they have to bear all liabilities, including water and electricity bills running into thousands of ringgit.

"The amendments will clearly define the responsibilities of housing developers and JMB," he told reporters after visiting Pangsapuri Seri Nipah in Taman Pinggiran USJ, Subang Jaya, today.


Property industry to remain lacklustre this year - AllianceDBS Research

Extract from Bernama (3/1/2016)

KUALA LUMPUR: The property industry is expected to remain lacklustre this year after the sluggish sales in 2016, driven by prolonged weak sentiment, low affordability and accelerating incoming supply.

In a research note today, AllianceDBS Research Sdn Bhd said, buyers were likely to adopt a wait-and-see attitude in anticipation of lower selling prices in the near to medium term.

"We are still seeing strong demand for selective new projects which offer value proposition to buyers despite the relatively weaker market.

"Differentiating features and value-driven pricing have increasing dominated buyers' priority list given the weak sentiment," it said.


UDA plans to build affordable housing in KL

Extract from Bernama (2/1/2017)

KUALA LUMPUR: UDA Holdings Berhad plans to develop affordable housing with a starting price of RM300,000 per unit in several areas in the city this year.

UDA chairman Datuk Dr Mohd Shafei Abdullah said a total of 700 units would be built in locations such as Jalan Cochrane and Jalan Jubilee in Cheras.

According to him, the project aimed to assist young people with a low-income to own their own homes.

"The price offered is appropriate because we need to cover the cost of land to build the houses in the area," he said to reporters after attending the 'Jom Sekolah' (Let's Go to School) programme here today.