Thinkproperty Blog

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 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 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 the Construction Industry Development Board (CIDB) to provide assistance on the IBS to 300 class F contractors in phase one of the project," he said.

"The first part would involve transfer of knowledge on the technology in Negeri Sembilan, Melaka, Selangor and Perak, before its expanded to the whole country," he said after declaring open a seminar on the IBS Technology for Class F contractors at the CIDB Convention Centre here, Tuesday.

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, tablets, smart televisions and other devices.

iProperty Group's Chief Executive Officer, Shaun Di Gregorio, said with the right tools at their disposal, consumers would be able to make quicker and better decisions when deciding on their next or first property investment.

Headquartered in Kuala Lumpur, the iProperty Group is listed on the Australian Securities Exchange and operates 18 property websites around the region.

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.

"They only have to repay between RM150 and RM300 a month for 25 years," he told reporters at a tea reception with taxi drivers at the Kerinchi People's Housing Project attended by more than 200 Klang Valley taxi drivers.

The scheme, announced by Prime Minister Datuk Seri Najib Tun Razak last Saturday, will begin on March 1.

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.

"We've instructed the Kuala Terengganu City Council and the local authorities to build buildings with traditional concept," he told reporters after accompanying Sultan of Terengganu Sultan Mizan Zainal Abidin for a visit at the city council today.

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 to applicants.

"The foundation will assist PPR and PPA tenants, particularly DBKL Public Housing tenants to purchase a more comfortable home.

"We know that sometimes banks are reluctant to give out loans due to factors like affordability to service the loan, applicant's age or blacklisted name," he told Bernama after giving an interview in the "Ala-Carte Pagi" programme on Bernama Radio24 here Thursday.

Extract from Bernama (25/01/2012)

ALOR SETAR: The Housing and Local Government Ministry is to build 38,000 units of houses under the People's Housing Project under the 10th Malaysia Plan (2011-2015), Minister Datuk Chor Chee Heung said today.

He said many of the houses are under construction and they are being built in Sabah, Selangor, Pahang and Kelantan.

"We also had an application from Kedah but the request could not be met because no land is available. If the state government provides the land, we will build the houses there," he told reporters after the presentation of 1Malaysia People's Aid (BR1M) vouchers, here.

Chor said the completed houses would be handed over to the local authorities or the state government to manage the sale and rental.