Ireka bags RM27.58 million job from Vietnam
Ireka Corp Bhd's wholly-owned subsidiary Ireka Engineering and Construction Vietnam Co Ltd has been awarded a contract by Vietnam-based Hoa Lam-Shangri-La Healthcare LLC to construct the proposed City International Hospital worth RM27.58 million in Hi-Tech Healthcare Park (IHHP) in Ho Chi Minh City. The hospital is to be completed by Sept 30 this year.
Ireka group managing director Lai Siew Wah says the hospital is part of the 92.76-acre IHHP project, which will consist of world-class private hospitals and commercial, hospitality and residential developments.
Gema Padu to develop RM1.5 billion project in Kota Warisan
Gema Padu Sdn Bhd, the developer of Kota Warisan in Sepang, Selangor, plans to launch a new development in the township with a GDV of RM1.5 billion in the next four years. The 138-acre development will comprise residential and commercial properties, says Gema Padu director Lee Kuan Yong. He believes the development will see good demand due to its strategic location adjacent to the Salak Tinggi Express Rail Link station, and its accessibility via major road networks such as the Maju Expressway, North-South Expressway, Elite, LDP and the South Klang Valley Expressway.
About 350 acres of the 600-acre Kota Warisan township have been developed since 1997, with over 4,000 residential and commercial units delivered so far.
UOA to list development arm
United Overseas Australia Ltd (UOA), which is listed on the Australian Securities Exchange and Singapore Exchange, has submitted documents to Bursa Malaysia for a proposed listing of its development arm. It is understood that UOA hopes to list the arm on Bursa by June this year. UOA Development Bhd is the developer of the RM6 billion Bangsar South project in Kampung Kerinchi. The UOA group had listed the UOA Real Estate Investment Trust on Bursa in 2005.
Higher licence deposit possible for developers
The Housing and Local Government Ministry has proposed to raise the deposit required for a property developer's licence in a move to reduce incidences of abandoned projects. The amendment to the Housing Development (Control and Licensing) Act 1966 is expected to be tabled next month. With the proposed amendment, said Minister Datuk Wira Chor Chee Heung, only genuine developers with sufficient financial credibility will be allowed to undertake property projects. He added that the deposit will be based on a percentage of the property development's cost.
RM20 million to transform mosque in Kampung Baru into an icon
The upgrading of the Jamek Mosque in Kampung Baru will mark the start of the Kampung Baru redevelopment. 1Malaysia Development Bhd will contribute RM20 million to turn the mosque into an icon in the area, announced Prime Minister Datuk Seri Najib Razak on Feb 5. Najib said government-linked companies such as Permodalan Nasional Bhd and Lembaga Tabung Haji will be involved in the redevelopment. Meanwhile, the Kampung Baru Corporation Bill will be tabled for a second reading in Parliament in March. The corporation will serve as the governing body to develop, coordinate and regulate development in Kampung Baru. The 110-year-old Kampung Baru covers 90.2ha and comprises seven villages with about 35,000 residents.
This article appeared in City & Country, the property pullout of The Edge Malaysia, Issue 845, Feb 14-20, 2011
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