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More perks for My First Home Scheme

Extract from The Sun Daily (10/10/2014)

PETALING JAYA: The government is expected to announce more measures for the affordable housing segment in Budget 2015 including the return of the full loan facility under the My First Home Scheme, said MIDF Research.

"We anticipate some of the measures introduced in prior years to make a comeback (full loan facility under My First Home Scheme) or extended (50% exemption in stamp duty for first-time buyers of houses worth RM400,000 and below) and broadened (better incentive to encourage private developer participation to build low to medium cost properties, and more 1Malaysia People's Housing Scheme/People's Housing Programme units built in 2015)," its analyst Annuar Rahman said in a report yesterday.

He said further relief targeted at first-home buyers such as zero-rated goods and services tax (GST) for properties worth RM400,000 and below as lobbied by the Real Estate & Housing Developers Association Malaysia, can be expected.

"The floor price of properties accessible to foreigners could also be raised and providing cheaper funding for first-time buyers. We are not expecting another round of hike in real property gains tax," he added.

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MIDF ‘neutral’ on property sector

Extract from Business Times (9/10/014)

MIDF Research expects to see more measures focused towards affordable housing in the 2015 Budget, to be tabled later today.

This follows the rationalisation in petrol subsidy and the imminent Goods and Services Tax (GST) imposition next year.

“We anticipate some of the measures introduced in prior years to make a comeback or extended and broadened,” MIDF Research said, citing full loan facility under the My First Home Scheme, 50 per cent stamp duty exemption for first-time house buyers for units worth RM400,000 and below, as well as better incentives to encourage private developers to build low- to medium-cost properties and more PR1MA/PPR (low- cost houses) units built next year.

“We also expect further relief targeted at first-time house buyers such as zero-rated GST for properties worth RM400,000 and below as lobbied by the Real Estate and Housing Developers Association,” it added.

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Ireka unit wins RM276.79mil contract from KL Eco City

Extract from The Star (9/10/2014)

KUALA LUMPUR: Ireka Corp Bhd’s infrastructure arm, Ireka Engineering and Construction Sdn Bhd, has bagged a RM276.79mil construction contract from KL Eco City Sdn Bhd.

Under the contract, Ireka will be responsible for the main building works of the retail podium, office Block A and the remaining works for the basement levels at the KL Eco City’s mixed development project. — Bernama

Housing affordability not addressed in Budget 2014

Extract from The Sun Daily (9/10/2014)

PETALING JAYA: Property developers and real estate agents feel that measures announced in Budget 2014 failed to address the affordability and hope that the government will announce more effective measures in Budget 2015.

"Budget 2014 only managed to slow down the number of property transactions but values remain high," Malaysian Institute of Estate Agents (MIEA) president Siva Shanker told SunBiz.

"We wish the government would be more inclusive in policy making decisions and engage all stakeholders or else they miss out on the big picture, and end up setting policies that cause knee-jerk reactions," he said.

MIEA, which represents registered real estate practitioners in the country, wants the government to focus more on affordability especially for young, first-time house buyers in Budget 2015.

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Ireka wins RM276.79m building contract

Extract from The Sun Daily (9/10/2014)

PETALING JAYA: Ireka Corp Bhd's unit, Ireka Engineering and Construction Sdn Bhd, has bagged a RM276.79 million contract from KL Eco City Sdn Bhd for the construction of a mixed development project.

The job for the construction of retail podium, office block main buildings and basement levels is for a mixed development project located in Bangsar. The project is a joint venture between Kuala Lumpur City Hall and KL Eco City.

Work is to start on Oct 15, 2014 and completed in 29 months.

"We are delighted and proud to have won this contract. This second contract shows the recognition and confidence that KL Eco City has on Ireka," said its managing director Datuk Lai Siew Wah.

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LBS to continue focus on innovation, affordability

Extract from Business Times (8/10/2014)

KUALA LUMPUR: LBS Bina Group Bhd (LBS) says it will continue to focus on innovative lifestyle products and affordable housing to meet increasing demand from first-time buyers and young single professionals.

Managing director Datuk Seri Lim Hock San said more and more young buyers are looking at housing developments with innovative designs and features that meet their contemporary lifestyles.

Affordability remains a key concern, but he is confident that buying momentum will pick up in the second half of the year, driven by continued demand from first-time buyers as well as those buying ahead of the implementation of the six per cent Goods and Services Tax next year. 

“Buying your first property is very exciting. So, invest in good value properties instead of deciding based on the price factor,” he said in a statement yesterday.

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MK Land to complement government's efforts in affordable housing

Extract from Bernama (8/10/2014)

PETALING JAYA: Property developer MK Land Holdings Bhd is seeking to complement the government's efforts in providing more affordable houses to benefit all Malaysians.

Chairman Tan Sri Mustapha Kamal Abu Bakar said in doing so, the company continues to look for new land.

"We are always on the look out for new land for affordable housing. We understand the government's plan to help the people and would like to be among the key players to complement its efforts," he told the media during the handing over of keys to owners of its Metropolitan Square condominium project in Damansara Perdana here today.

He also drew attention to the government announcement yesterday that two million Malaysian households still earned less than RM3,000 a month.

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LBS to focus on affordable housing segment

Extract from Bernama (8/10/2014)

KUALA LUMPUR: LBS Bina Group Bhd (LBS) will continue to focus on innovative lifestyle products and affordable housing as property developers see increasing demand from first timer buyers and young single professionals.

"Affordability remains a key concern for Malaysian house buyers and simultaneously, the groups are also looking at housing developments with innovative designs and features that meet their contemporary lifestyle," it said in a statement.

LBS Managing Director Datuk Seri Lim Hock San said people are more cautious in making their property investment decisions and they still wish to own houses.

However, against the backdrop of rising land, raw materials and labour cost, Lim advised buyers to make their purchase decision quickly.

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Rehda Penang urges govt to buy unsold affordable houses

Extract from Business Times (8/10/2014)

GEORGETOWN: The government should consider buying all unsold low-cost and low medium-cost houses across the country, including those that are put up for auction, in a bid to address the shortage of affordable housing nationwide.

Real Estate and Housing Developers’ Association (Rehda) Penang chairman Datuk Jerry Chan Fook Sing said by doing this, the government could ensure that there was an immediate supply of such housing units.

“The losses would have already been absorbed by the developers and the government can buy properties off the developers from their existing stocks,” he said in an interview recently.

Chan proposed that instead of building houses, Perbadanan PR1MA Malaysia should instead buy from private developers.

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Mah Sing upbeat on Penang potential

Extract from Business Times (5/10/2014)

GEORGE TOWN: Penang projects are slated to deliver some 10 per cent of Mah Sing Group Bhd’s sales target for this year.

Its chief operating officer Teh Heng Chong said Mah Sing has five projects in the state at the moment.

“Penang is an important market, forming some seven per cent of the remaining gross development value (GDV) and unbilled sales of RM3.3 billion from the group’s 48 projects in Malaysia,” he said.

In Penang, Mah Sing has 33.1ha of undeveloped landbank with remaining GDV of RM2.8 billion.

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