Blog Entries

Dijaya Aims to Launch RM1.1b Worth of Projects

ella@thinkproperty.my — Fri, 10 Feb 2012 09:04:42 +0100

Extract from Business Times (10/02/2012)

PROPERTY developer Dijaya Corp Bhd aims to launch RM1.1 billion worth of projects this year after accumulating land for development in the past 18 months.

Last year, the master property developer of Tropicana Golf & Country Resort and Tropicana Indah Resort Homes in Petaling Jaya only launched RM700 million worth of properties.

"For 2012, we are targeting sales between RM650 million and RM700 million. It is a cons [...]

Foreign Developers Set to Mark Presence at Mapex

ella@thinkproperty.my — Fri, 10 Feb 2012 08:53:06 +0100

Extract from Business Times (10/02/2012)

THE annually-held Malaysia Property Exposition (Mapex) will see the participation of foreign property developers for the first time this year.

Mapex chairman Datuk Ng Seing Liong said up to five foreign property developments in Thailand, Australia, the UK and the Philippines are likely to be featured at the event to be held from March 2 to March 4.

To date, companies with projects in Thailand and the Philippines have regis [...]

Never Doubt House Buyers Ability Under Special Funding Scheme, Says Raja Nong Chik

ella@thinkproperty.my — Fri, 10 Feb 2012 08:30:30 +0100

Extract from Bernama (09/02/2012)

KUALA LUMPUR: The opposition should never doubt the repayment ability of house buyers under the special scheme for the purchase of People's Housing Programme-National Economic Action Council and Kuala Lumpur City Hall (DBKL) public housing, said Federal Territories and Urban Well-being Minister Datuk Raja Nong Chik Raja Zainal Abidin.

He said this was because the ministry would ensure that eligible buyers would be those who do not have [...]

NFCorp Explains Involvement in Property Sector

ella@thinkproperty.my — Fri, 10 Feb 2012 08:09:45 +0100

Extract from Bernama (09/02/2012)

KUALA LUMPUR: The National Feedlot Corporation Sdn Bhd (NFCorp), in defending its involvement in the property sector, said it was deemed more astute business to invest in property in the short-term rather than just placing NFCorp monies in money market instruments.

NFCorp chief executive officer Wan Shahinur Izmir Mohamad Salleh said making investments in the property sector was putting the money where it was sound, as each investment had b [...]

Suntrack Launches New Industrial Development with GDV of RM110 Million

ella@thinkproperty.my — Fri, 10 Feb 2012 07:35:01 +0100

Extract from Bernama (09/02/2012)

KUALA LUMPUR: Property developer Suntrack Development Sdn Bhd (Suntrack) has launched its latest industrial development, Suntrack HUB @ Bangi, with a gross development value of RM110 million.

The project comprises 42 industrial showrooms located in Bangi Industrial Park, Bandar Baru Bangi, Selangor, the company said in a statement today.

Its project director James Tan said the 4.76 ha development offers purchasers three different [...]

Plan for RM13b Danga Bay Waterfront Project

ella@thinkproperty.my — Wed, 08 Feb 2012 08:44:56 +0100

Extract from Business Times (08/02/2012)

JOHOR BARU: Businessman Datuk Lim Kang Hoo, who recently made a privatisation bid for developer Tebrau Teguh Bhd, is planning a more than RM13 billion project at Danga Bay here.

The soon-to-be-launched project is billed as the most exclusive and unique waterfront development in Iskandar Malaysia southern economic corridor over the next five years.

It will spread over 120 hectares at the estuaries of three rivers at the Dan [...]

RM1 Billion Sibujaya Township to be Completed By 2023

ella@thinkproperty.my — Wed, 08 Feb 2012 07:30:48 +0100

Extract from Bernama (07/02/2012)

SIBU: The Sarawak Housing Development Commission, in collaboration with Amcorp Group, will invest about RM1 billion for the total development of the new Sibujaya township.

"The development will be carried out under a revised masterplan and will be the biggest and most uniquely planned housing area in the state," said State Housing Minister Datuk Amar Abang Haji Abdul Rahman Zohari Tun Abang Haji Openg.

About 106 hectare [...]

HSL Launches �English Tudor� Houses

ella@thinkproperty.my — Mon, 06 Feb 2012 09:09:33 +0100

Extract from Borneo Post (06/02/2012)

KUCHING: Award-winning developer, Hock Seng Lee Construction Sdn Bhd (HSL) recently launched its the first phase of its ‘English Tudor-styled’ residential development in Samariang Aman 2.

The wholly-owned subsidiary and property development arm of Hock Seng Lee Bhd opened for sale 21 units of single-storey terraced and semi-detached homes.

“Half of these new houses sold out at the launch, while a limited num [...]

SPNB Will No Longer Revive Abandoned Housing Projects, Says MD

ella@thinkproperty.my — Mon, 06 Feb 2012 08:17:06 +0100

Extract from Borneo Post (06/02/2012)

KUALA LUMPUR: Syarikat Perumahan Negara Bhd (SPNB), an agency set up to revive abandoned housing projects, will no longer rehabilitate such projects due to a policy change.

Under the latest policy, abandoned projects would be fully managed by the Housing and Local Government Ministry through the Commissioner of Buildings, managing director Datuk Dr Kamarul Rashdan Salleh said.

“I understand that the ministry will work w [...]

Three New Accolades for Tune Hotels

ella@thinkproperty.my — Mon, 06 Feb 2012 07:44:14 +0100

Extract from Borneo Post (04/02/2012)

KUCHING: Tune Hotels earned triple recognition for its hotels in Penang – Malaysia, Hat Yai – Thailand and Bali – Inodonesia.

According to a press release, the travel website ‘TripAdvisor’ ranked Tune Hotel in Downtown Penang in the top 25 bargain hotels in Malaysia, alongside globally renowned brands in its ‘Travellers’ Choice Awards 2012’. The rating was based on reviewed by travellers w [...]

Sime Darby Property Honoured for Sustainable Development Efforts

ella@thinkproperty.my — Fri, 03 Feb 2012 08:50:00 +0100

Extract from Business Times (03/02/2012)

KUALA LUMPUR: Sime Darby Property Bhd has won two awards for outstanding achievements in the property development sector in Malaysia and Southeast Asia.

It bagged the BCI Asia Awards 2011, the second consecutive year that it has won the honour. The award covers Malaysia, Hong Kong, Indonesia, the Philippines, Singapore, Thailand and Vietnam.

Sime Darby Property managing director Datuk Wahab Maskan said it was an honour to [...]

Sentoria to Raise RM51.6 Million via IPO for Safari Park Project

ella@thinkproperty.my — Wed, 01 Feb 2012 09:25:42 +0100

Extract from Borneo Post (1/02/2012)

KUCHING: Sentoria Group Bhd (Sentoria), a property developer and resort operator will use a portion of the proceeds of its initial public offering (IPO) for the development of Bukit Gambang Safari Park.

In its press release yesterday, the group aimed to raise RM51.6 million, of which RM27.7 million would be allocated for working capital, RM11.2 million for repayment of bank borrowings, RM9 million for purchase of property, plant and equi [...]

SPNB to Build 10,000 Houses this Year

ella@thinkproperty.my — Wed, 01 Feb 2012 08:09:59 +0100

Extract from Bernama (31/01/2012)

KUALA LUMPUR: Syarikat Perumahan Negara Berhad (SPNB) will complete 10,000 houses through the "Projek Mesra Rakyat" affordable housing scheme by the end of this year with an estimated cost of RM650 million.

SPNB chairman Datuk Idris Haron said the project would be implemented through the Industrial Building System (IBS) wholly funded by Bank Simpanan Nasional, targeting 1,000 units a month.

"We have tied up with th [...]

iProperty Enhances Online/Mobile Features

ella@thinkproperty.my — Wed, 01 Feb 2012 07:53:26 +0100

Extract from Bernama (31/01/2012)

KUALA LUMPUR: Online property group, iProperty Group today launched its new mobile strategy and development team to deliver better mobile products and solutions for property buyers and investors in Malaysia, Hong Kong, Indonesia and Singapore.

In a statement today, iProperty said the team will be working to deliver innovative solutions to increase the group's presence on all non-computer platforms comprising mobile phones, smartphones, [...]

Ministry Targeting to Buy 35,000 Houses through Special Funding Scheme

ella@thinkproperty.my — Tue, 31 Jan 2012 07:45:10 +0100

Extract from Bernama (30/01/2012)

KUALA LUMPUR: The Federal Territory and Urban Well-being Ministry is targeting to buy 35,000 houses through the special funding scheme for houses under the National Economic Action Council's People Housing Programme and the City Hall public housing programme this year.

Its minister, Datuk Raja Nong Chik Raja Zainal Abidin, said through the scheme, those eligible could buy apartments for between RM25,000 and RM35,000.

"Th [...]

Trinity Corp Proposes Extra Collateral

ella@thinkproperty.my — Mon, 30 Jan 2012 09:06:50 +0100

Extract from Business Times (30/01/2012)

KUALA LUMPUR: Trinity Corporation Bhd (TCB) has proposed additional collateral to the holders of the balance of its RM84.65 million Sukuk Al-Ijarah in the form of sales proceeds of 40 units of shop offices at Saujana Putra totalling RM40 million, arising from a proposed joint venture.

This is in addition to the existing securities in the form of the balance of three commercial buildings, namely Midpoint Shopping Complex, Menara Maxis [...]

MAH: Hotels Can Expect Higher Occupancy Rate

ella@thinkproperty.my — Mon, 30 Jan 2012 08:44:33 +0100

Extract from Business Times (30/01/2012)

HOTELS in Malaysia, particularly those in the Kuala Lumpur City Centre, are expected to fill more rooms this year, says the Malaysian Association of Hotels (MAH).

Hotels within the Kuala Lumpur city centre could finish the year at an average occupancy rate of 68 per cent, up from 65 per cent in 2011, said MAH vice-president Ivo Nekvapil.

"This year should be stronger than last year... I do not foresee a dramatic drop [...]

MARC Affirms Rating of DutaLand

ella@thinkproperty.my — Mon, 30 Jan 2012 08:32:39 +0100

Extract from Business Times (30/01/2012)

KUALA LUMPUR: Malaysian Rating Corporation Berhad (MARC) has affirmed its rating on DutaLand Berhad’s (DutaLand) outstanding RM20,649,024 Redeemable Unsecured Loan Stocks (RULS) at B with a stable outlook.

The rating action incorporates DutaLand’s improving operating performance, underpinned by a higher contribution from its plantation division that has offset weaker earnings from its property development activities, and [...]

Terengganu Encourages Construction of Buildings with Traditional Elements

ella@thinkproperty.my — Fri, 27 Jan 2012 08:33:22 +0100

Extract from Bernama (26/01/2012)

KUALA TERENGGANU: The Terengganu government encourages developers in the state to incorporate traditional elements in their projects, its Menteri Besar Datuk Seri Ahmad Said said.

He said the existence of these buildings would provide a fresh perspective in the state's development landscape.

The state government would not force them to do so but would encourage creativity in their development projects, he said.

&qu [...]

FT Foundation to Help PPR, PPA Tenants Buy Houses

ella@thinkproperty.my — Fri, 27 Jan 2012 08:02:51 +0100

Extract from Bernama (26/01/2012)

KUALA LUMPUR: The Federal Territories and Urban Well-being Ministry will launch the Federal Territory Foundation in March to help tenants of the People's Public Housing Project (PPR) and Public Housing Project (PPA) buy their own homes in the capital.

Its minister, Datuk Raja Nong Chik Raja Zainal Abidin said the foundation, a collaboration between the ministry and the Employees Provident Fund (EPF), would provide a loan up to RM35,000 [...]