Thinkproperty Blog

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 conservative target but we hope to achieve more than that," Dijaya managing director Datuk Tong Kien Onn told pressmen after the company's extraordinary general meeting in Petaling Jaya yesterday.

Last year, Dijaya sold about RM420 million of properties.

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 registered to participate and the organiser, Real Estate and Housing Developers' Association Malaysia (Rehda), is still awaiting confirmation from the Australian participants.

The Thai company will be promoting a property development in the UK as well, he told a press conference here yesterday.

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 outstanding DBKL flat rentals and bad loan repayment records.

"The house buyers will be former squatters, who are now renting DBKL flats, and interested buyers, who want to own PPR (people's housing project) houses.

"The houses could not be offered to them before for the situation was not right then. Now they have the opportunity to finally own a house in the capital after renting a flat for decades," said Raja Nong Chik in an interview with Bernama.

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 been calculated for its secure and definite returns.

"Moreover, tenanted properties bring in rental income that is considered a plus point, if not a bonus in fund management.

"The property market is sound and secure, more protected and less volatile than others," he said in a statement Thursday.

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 types at a starting price RM2.59 million.

Differing in facade and size, each unit has a built-up area ranging from 476.9 sq m to 508.9 sq m, he said.

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 Danga Bay.

The Danga Bay waterfront development is an important component in one of the flagship developments in Iskandar Malaysia.

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 hectares, out of 567 hectares earmarked for development under the masterplan, has already been developed with a gross development value of RM470 million.

The current development includes 4,986 houses, 174 commercial and 96 industrial units serving a population of 25,000 people," he told reporters after launching a housing project here Tuesday.

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 number still remain available for a few lucky buyers,” the property developer said in a press statement.

According to HSL, Samariang Aman 2 is sited on flood-free, mixed zone land with a 99-year lease title and stunning views of Mount Santubong. It also stated that the site has excellent access via a new road and the future riverine loop road linking Matang, Samariang and Petra Jaya.

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 with private developers to revive abandoned houses,” he told Bernama in an exclusive interview.

Kamarul, however, expressed his concern over the escalating costs to restore private developers’ housing projects comprising low or medium-low-cost houses because of the requirement to maintain the original house price.

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 who stayed in the hotels.

TripAdvisor also ranked Tune Hotel in Hat Yai as the number one hotel in the city, meanwhile Tune Hotel Double Six in Legian, Bali was awarded ‘The Best Hotel and Service Excellence of the Year’ by the ‘Indonesian Quality and Service Excellence Tourism Awards’.

The winners would be running for the annual ‘Indonesia Top 100 Awards’ that to be announced in Jakarta in December. The awards were supported by the Indonesian government and the Indonesian Chamber of Commerce and Industry.