GEORGE TOWN: Developers in Penang should focus on selling homes to genuine house buyers and not speculators, said Raine & Horne Senior Partner Michael Geh.
He said that due to speculation, house prices had increased beyond the affordability level of wage earners who made between RM3,000 and RM4,000 a month.
“In the property market today, affordability is the key issue and should be addressed by developers.
“Last year, developers were targeting bulk buyers for their property which are priced from more than RM300,000 to above RM400,000. These buyers are speculators willing to buy three to 10 units each,” Geh said during a talk yesterday on the state of property in Penang for this year at the i-Property Talk organized by the Red Tomato Penang Free Newspaper.
- Created on Saturday, 09 April 2011 15:16
THE debate on gated and guarded schemes is the hottest and a long standing community issue that has drawn divided views in recent years.
The schemes, which are categorized by the Housing and Local Government Ministry as ‘gated communities’ that has strata titles and ‘guarded neighborhoods’ — should only be guarded and not gated. These are forced by-products of high crime rates.
Earlier, residents and authorities called for proper guidelines to put a stop to noise pollution. However, the clauses that did not address to realities actually created more questions.
Aside from ambiguously requiring the consent of the majority, the guidelines demand that every boom barrier be manned by a security guard. Have they any idea how many entry and exit points a typical housing estate in the Klang Valley has? Asking the guards not to request for identification from anyone entering the area defeats the purpose of having security. So are the guards supposed to say ‘hi’ to the suspicious-looking people?
- Created on Saturday, 09 April 2011 15:10
KANGAR -- The "Jelajah One Malaysia" (JOM) programme organized by the Barisan Nasional (BN) Youth aims to repair by May more than 500 decrepit houses throughout the country with the assistance of community members.
Its Chairman Khairy Jamaluddin said over 300 such homes had been repaired since the program began at the end of last year.
Speaking to reporters after launching the Perlis-level JOM in Kuala Perlis, he said the second phase of the scheme from June onwards would focus on rehabilitating infrastructure such as community halls and sporting facilities.
As JOM was a nationwide program, he said, it could indirectly serve as a means to gauge the preparedness of the BN Youth election machinery in the states.
- Created on Saturday, 09 April 2011 15:02
- Created on Saturday, 09 April 2011 03:43
|Extract from Business Times (08/04/11) |
KUALA LUMPUR: The Cheung Kong Group, owned by Hong Kong Tycoon Li Ka-shing, has emerged as the front runner to buy three shopping complexes put up for sale by TMW Asia Property Fund.
Cheung Kong, which also helps manage AmFirst REIT in Malaysia via its affiliate ARA, is said to be going through the books of Ipoh Parade in Perak, Klang Parade in Selangor and Seremban Parade in Negri Sembilan.
Sources told Business Times that Cheong Kong was selected after its offer thumped those made by two other listed companies.
However, it is unclear if Cheung Kong (Holdings) Ltd made the bid directly or through one of the funds affiliated to it.
Li, who is also Asia's richest man, is known as "Superman" in Hong Kong due to his deal-making ability. His Cheung Kong conglomerate is one of Hong Kong's biggest property developers and owns the world's largest operator of container ports, among others.
- Created on Friday, 08 April 2011 15:29
KUALA LUMPUR: Gamuda Land Sdn Bhd, the property development arm of Gamuda Bhd, is confident of achieving a record RM1.3 billion sales in the current financial year, driven by strong property market outlook.
The group registered about RM800 million total sales in the financial year ended July 31 2010.
Gamuda Land Managing Director Chow Chee Wah said to date, the company had clocked in RM860 million sales, surpassing last year's total sales.
"Major contributor to the targeted RM1.3 billion sales is Bandar Botanic project, while our project in Vietnam (Celadon City) will also contribute this year," he told reporters after the launch of Gamuda Land's latest niche development, Madge Mansions, yesterday.
- Created on Friday, 08 April 2011 15:19
|Extract from The Edge (07/04/11) |
KUALA LUMPUR: Property developer Dijaya Corp Bhd is making its mark in the hospitality business by venturing with US-based Starwood Hotels & Resorts Worldwide, Inc to develop a W Hotel in Kuala Lumpur.
Dijaya said yesterday that the 150-room hotel is scheduled to open in 2016 and will mark the entry of the W brand into Malaysia.
Independent Non-Executive Chairman Datuk Rohana Mahmood said Dijaya was proud to collaborate with Starwood Hotels & Resorts Worldwide, a company with a long history of designing, building and managing world-class hotels and resorts.
“We have chosen a proven partner that is in line with our focus to grow with a dynamic presence,” she said.
- Created on Friday, 08 April 2011 15:02
KUALA LUMPUR: Berjaya Land Bhd (BLand) has acquired Kyoto Higashiyama Hospitality Assets (KHHA) for ¥100,000 (RM3,547), in a move to venture into real estate development in Japan.
In an announcement to Bursa Malaysia yesterday, BLand said its wholly owned subsidiary Berjaya Kyoto Development (S) Pte Ltd’s unit Berjaya Kyoto Development Co Ltd had acquired four ordinary shares in KHHA, each representing 100% equity interest in the latter company.
“The intended principal activity of KHHA is to be involved in real estate development activities,” said BLand, adding that KHHA had yet to commence operations.
It added that the acquisition was not subject to approval of any Malaysian authorities or BLand’s shareholders, and that the acquisition would not have any material effect on the group’s earnings and net assets for the financial year ending April 30, 2011.
- Created on Friday, 08 April 2011 14:45
KAPIT -- Folks in the Baleh constituency can expect better a road network within the next five years, said Sarawak Minister of Land Development Datuk Seri Dr James Masing.
Masing said he would ensure that road projects for the area under the Sarawak Corridor of Renewable Energy (Score) would be implemented.
"These include the 150 kilometer-long Kapit/Sangan/Bintulu Road and the 73 kilometer-long Kapit/Ulu Baleh Road, which are major roads and are expected to cost the government RM2 billion to build them, he told reporters here Thursday.
The Kapit/Ulu Baleh Road which leads to Sungai Tunoh is his pet project and is expected to change the area's economic and political landscape.
- Created on Friday, 08 April 2011 14:33
KUCHING -- The Health Ministry will allocate about RM460 million to build a specialist hospital and a polyclinic in Petra Jaya following the rising population in this city.
Its Minister, Datuk Seri Dr Liow Tiong Lai said currently the ministry was in the process of identifying the site and the project was expected to be completed in 2014.
"With the existence of the new hospital and clinic, congestion at the Tanah Putih Health Clinic and Sarawak General Hospital could be reduced. The construction plan for the hospital had been approved under the 10th Malaysia Plan.
"For the moment, we have no information on its cost because the structural plan had not been released. So, the actual allocation cannot be announced. After the design and requirements are ready, I feel the cost will be between RM300 and RM460 million," he told reporters after a working visit to the Tanah Putih Health Clinic, here Thursday.
- Created on Friday, 08 April 2011 14:22