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RM7.6 bln allocated for 74 PDRM devt projects — Ministry

Extract from Borneo Post (17/4/2014)

MELAKA: The government has allocated RM7.6 billion for the implementation of 74 development projects for the Royal Malaysia Police (PDRM) since 2006, Home Ministry’s deputy divisional secretary Hussin Ahmad said.

He said 69 of the projects, comprising police quarters, police headquarters and stations, as well as other facilities, had been completed so far, involving an allocation of RM6.8 billion.

According to the report of the Royal Commission to Enhance the Operation and Management of the PDRM, the other five projects, including the construction of 300 units of police quarters in Johor, Selangor and Kelantan, were expected to be fully completed in 2015, he said.

“These development projects were aimed at modernising PDRM infrastructures and facilities, ensuring excellent service for the people and providing comfort and protecting welfare of PDRM families,” he told reporters after the handing over of keys to PDRM quarters to Melaka Tengah police contingent headquarters in Krubong here yesterday.


Naim to showcase properties in Sheda’s expo home and property roadshow

Extract from Borneo Post (17/4/2014)

KUCHING: Naim Land Sdn Bhd, a wholly-owned subsidiary of Naim Holdings Bhd, a multi-award winning developer and contractor, will be participating in SHEDA’s Home and Property Expo 2014 to be held at the Boulevard Shopping Mall here from 10am to 9pm from April 18 to 20.

Naim will be occupying booths No 25 and 26 at the old wing.

Naim’s senior general manager in sales and marketing Ting said that the expo is an excellent opportunity for those interested to find out more about Naim’s highly sought after developments in Kuching, Bintulu and Miri.

“For Kuching and Bintulu, we are going to showcase our iconic Kuching Paragon and Bintulu Paragon integrated developments. As these developments combine residential, business, retail and hospitality components, they present unique investment propositions to all.”


Another developer from China comes to Johor Baru, plans RM10bil project

Extract from The Star (17/4/2014)

PETALING JAYA: The Greenland Group is the latest developer from China to purchase land for a property project in Danga Bay, Johor Baru.

It entered an agreement yesterday to buy 13.96 acres from Iskandar Waterfront Holdings Sdn Bhd (IWH) for RM600mil with plans to develop projects with a potential gross development value (GDV) of RM2.2bil. The transaction comes amid an environment where property developers are seeing lacklustre response from buyers for their launches in Johor.

The latest to feel the heat was Singapore’s Pacific Star Development Pvt Ltd that saw only 25% bookings in the second phase of its condominium project in Puteri Harbour that is located in Iskandar Malaysia.

The purchase price works out to RM984 per sq ft, which is just below the record RM991 psf that Hao Yuan Pte Ltd, a Singapore-based but China-owned firm paid for 37 acres in Danga Bay last December.


Penang imposes local govt fee on hotel rooms

Extract from Business Times (17/14/2014)

JUNE 1 IMPLEMENTATION: Operators face threat of losing licences on failure to settle levy

The threat of revocation of hotel licences now hangs over the heads of Penang hotel operators if they fail  to hand over their collection of a local government fee or levy, which will be implemented on June 1.

Business Times obtained a letter addressed to some 200 licensed hotel operators in the state by the Penang Island Municipal Council informing them of the state government’s decision to impose the fee on all hotels.

“Any hotel which fails to hand over the fee to the local authority will be dealt with according to the local authority’s rules which may include the revocation of its licence and the hotel will be instructed to cease operation within the stipulated period,” said council president Datuk Patahiyah Ismail in the letter.


Greenland Group acquires land in Danga Bay for RM600 million

Extract from Bernama (16/4/2014)

JOHOR BAHARU: The Greenland Group, one of China's biggest state-owned companies, is making its first foray into Malaysia by acquiring prime waterfront land in Iskandar Malaysia for RM600 million.

The property conglomerate signed a sale and purchase agreement with Johor-based Iskandar Waterfront Holdings Sdn Bhd (IWH) in Shanghai, China today, for the approximately 5.584-hectare land in Danga Bay.

IWH, in a statement here Wednesday said the site, located close to the Johor Baharu city centre, has been earmarked for a mixed integrated joint venture (JV) development with a gross development value (GDV) of RM2.2 billion.

The JV development between IWH and the Greenland Group is set to be completed within five years.


LBS Bina to launch 2 projects in Iskandar Malaysia

Extract from Bernama (16/4/2014)

KUALA LUMPUR: LBS Bina Group Bhd is set to launch two more development projects in Iskandar Malaysia, in a move to tap the red-hot property demand in the booming economic zone.

The projects would be undertaken by the company itself, and fall into the mid-range segment, said Managing Director Datuk Seri Lim Hock San.

He declined to divulge more details but said an announcement would be made in two months.

"I don't see over supply in Iskandar. If Chinese developers are eagerly tapping the development there, they must have done their homework," Lim told Bernama during a recent media trip to Cameron Highlands to witness the launch of its first sales gallery there.


i-City unveils plans for central tower development project

Extract from Bernama (15/4/2014)

SHAH ALAM: I-Berhad, the developer of i-City, a popular tourist destination in Selangor, today unveiled plans for its Central Tower development project.

It encompasses a mixed development of residential service suites and an office tower with a gross development value (GDV) of almost RM1.6 billion.

I-Berhad deputy chairman Datuk Eu Hong Chew said the Central Tower development would be integrated with the CentralPlaza@i-City shopping mall venture.

The latter is a 60:40 project between Thailand's leading retail property developer Central Pattana Pcl (CPN) and I-Berhad.


I-Bhd unveils Central Tower mixed development




Extract from The Star (15/4/2014)

KUALA LUMPUR: I-Bhd has unveiled its plans for the Central Tower development in Shah Alam which will include residential service suites, hotel tower and office tower with total gross floor area of 1.60 million sq ft.

I-Bhd said on Tuesday the Central Tower development would be integrated with the CentralPlaza@I-City shopping mall via pedestrian linkages at various levels.

The first phase of Central Tower development comprising of two residential towers slated for completion in 2019 will have a joint breaking ceremony with the shopping mall in the third quarter of 2014 and the completion date is 2017.

"I-Bhd to gain RM20mil nett profit over 24 months from the disposal of the development rights and land to Central Plaza I-City Real Estate Sdn Bhd," it said.


Eco World to develop remaining Kota Masai land

Extract from The Star (15/4/2014)

PASIR GUDANG: Eco World Development Group Bhd (formerly Focal Aims Holdings Bhd) will start developing its remaining undeveloped land at the Kota Masai township by September.

President and chief executive officer Datuk Chang Khim Wah told StarBiz the development would cover 404.47ha of the remaining undeveloped land of 1,005.23ha township here.

He said it had earmarked a 311.60ha site of the 404.47ha land for 7,000 units of residential properties while 80.93ha was for commercial units and green industrial properties.

“We are already in the planning stage now including the theme for the new development and indicative pricing for the proposed residential properties,’’ said Chang on Sunday.


MRCB to buy land from Gapurna

Extract from Business Times (15/4/2014)

KUALA LUMPUR: Malaysian Resources Corp Bhd (MRCB) will acquire three parcels of land measuring 617,452 sq ft from Gapurna Sdn Bhd’s unit Bisraya Acres Sdn Bhd for RM83 million. In a filing to Bursa Malaysia yesterday, the company said the deal comprises two parcels of residential land measuring 419,158 sq ft and 198,294 sq ft of commercial land located in Sungai Buloh, Selangor.