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Affordable Housing Is A Demand-supply Issue, Shortage To Touch 1 Million, Says BNM

Affordable Housing Is A Demand-supply Issue, Shortage To Touch 1 Million, Says BNM

KUALA LUMPUR, March 23 -- Access to affordable housing is more of a demand-supply issue which calls for a carefully designed strategy of policy intervention rather than the general perception of access to financing. On the supply side, the housing market has not provided an adequate supply of affordable housing for the lower and middle-income households. In 2014, the shortage of affordable ...

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Bank Negara Malaysia maintains OPR as inflation seen 'higher'

Bank Negara Malaysia maintains OPR as inflation seen 'higher'

KUALA LUMPUR (March 2): Bank Negara Malaysia maintained the overnight policy rate (OPR) at 3% as the central bank evaluated risks to the country's economic growth and inflation. Bank Negara said in a statement today its monetary policy committee (MPC) maintained the OPR at 3%, a level deemed accommodative and supportive of economic activity. "At the current level of the OPR, the stance ...

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Court quashes EOT by housing ministry in favour of LAD for Sri Istana Condo buyers

Court quashes EOT by housing ministry in favour of LAD for Sri Istana Condo buyers

PETALING JAYA (Feb 27): The aggrieved buyers of Sri Istana Condo on Jalan Kuchai Lama, Kuala Lumpur have succeeded in defending their rights to claim liquidated ascertained damages (LAD) for the delay in delivering vacant possession to them. The buyers who were represented by a legal team from the National House Buyers Association (HBA) was granted an Order of Certiorari to quash the ...

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Mah Sing introduces new logo, tagline and vision

Mah Sing introduces new logo, tagline and vision

PETALING JAYA (Feb 27): Mah Sing Group Bhd (Mah Sing) unveiled its new corporate logo and tagline during the company’s annual dinner at the Majestic Hotel, Kuala Lumpur, recently. According to a press release today, the new logo is the company’s third since its inception and symbolises Mah Sing’s identity — a company that strives for excellence in product delivery, ...

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SP Setia to launch more mid-priced landed properties

SP Setia to launch more mid-priced landed properties

KUALA LUMPUR: Property developer SP Setia Bhd will continue to launch more mid-priced landed properties and affordable homes this year. President and chief executive officer Datuk Khor Chap Jen said on Thursday the mid-priced landed propertisles will consist of terrace units ranging from RM600,000 to RM800,000 in the Klang Valley and Johor. While the group remains cautious amid the ...

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KL 33 Properties buys Menara Prudential Building for RM125 mil

KL 33 Properties buys Menara Prudential Building for RM125 mil

PETALING JAYA (Feb 17): Property investment and holding company KL 33 Properties Sdn Bhd has acquired Menara Prudential (pictured) in Kuala Lumpur city centre for RM125 million, according to JLL Malaysia who is the transaction advisor on behalf of the seller — OCBC Properties (M) Sdn Bhd. “We are pleased to have supported both the seller and buyer on their exit and growth strategy ...

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Sunway Property targets RM2 bil worth of launches for 2017

Sunway Property targets RM2 bil worth of launches for 2017

KUALA LUMPUR (Feb 14): Sunway Property, the property division of Sunway Bhd, is looking to launch RM2 billion worth of properties this year with 90% of the launches in Malaysia, while the remaining will be in Tianjin, China. According to managing director of Sunway Bhd’s property development division for Malaysia and Singapore Sarena Cheah, this will amount to between 10 and 12 launches ...

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Sunway City in Cheras JV property project, GDV RM2b

Sunway City in Cheras JV property project, GDV RM2b

KUALA LUMPUR: Sunway Property's unit has purchased an 8.45 acre leasehold land in Jalan Peel, Cheras where it will jointly undertake a property project with an estimate gross development value (GDV) of RM2.5bil. Sunway City Sdn Bhd (SunCity) had on Friday inked a joint venture agreement to develop the leasehold land, which is opposite its iconic Sunway Velocity development. Under the ...

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Chinese developer Huashi to build RM1.8bil M101 Skywheel

Chinese developer Huashi to build RM1.8bil M101 Skywheel

PETALING JAYA: M101 has appointed China Huashi Enterprises Co. Ltd. (China Huashi) as the main contractor for the development of M101 Skywheel, a project with a gross development value (GDV) of RM1.8bil. M101 Skywheel is a mixed development which will stand at a height of 316 m and is headed for completion by 2020. Speaking after the signing ceremony with Huashi, M101 Datuk Seth Yap said this ...

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Iskandar Malaysia can tap overseas market

Iskandar Malaysia can tap overseas market

PETALING JAYA (Feb 10): Property prices in Johor’s Iskandar Malaysia is expected to drop in 2017 due to weak market sentiments and other challenges, but there are opportunities for developers to target buyers from overseas, said Landserve (Johor) Sdn Bhd executive director Wee Soon Chit. “There will still be a slight downward adjustment in property prices this year,” he told ...

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38% of Australian residential development site sales in 2016 bought by Chinese

38% of Australian residential development site sales in 2016 bought by Chinese

PETALING JAYA (Feb 8): Chinese developers and investors have bought a total US$1.8 billion (RM7.99 billion) worth of Australian residential development sites in 2016, amounting 38% of total sales, according to international real estate firm Knight Frank. “This is up 12% in comparison with 2015, and up 36% from 2012,” said Knight Frank in its latest report “The Rise of Chinese ...

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Mammoth Empire sells Empire Shopping Gallery to PHB, has option to buy it back in 5 years

Mammoth Empire sells Empire Shopping Gallery to PHB, has option to buy it back in 5 years

PROPERTY developer and asset manager Mammoth Empire Holdings Sdn Bhd has signed on the dotted line to sell its flagship Empire Shopping Gallery in Subang Jaya, Selangor, to Pelaburan Hartanah Bhd (PHB) for RM570 million cash. With the agreement, which was sealed late last week, MEH will be able to raise some much-needed funds and quash rumours of further delays in the completion of its ...

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Ways crowdfunding can be applied in real estate

Ways crowdfunding can be applied in real estate

CROWDFUNDING is not something new for present-day retail and technology start-ups that need funds to kick-start their businesses. However, the idea of crowdfunding in the real estate industry, to fund the development of property projects in particular, seems rather far-fetched and difficult to realise. Equity crowdfunding platform CrowdPlus.asia chief operating officer (COO) Bryan Chung has been ...

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