Property value in Kuantan not affected by Lynas issue, says MB

KUANTAN (March 26, 2012): Property values in Kuantan are not affected but have in fact risen despite the negative publicity caused by the setting up of the rare earth processing plant in Gebeng by Lynas Malaysia Sdn Bhd, said Menteri Besar Datuk Seri Adnan Yaakob.

He said the value of properties such as houses and commercial centres in several locations especially those near Gebeng such as in Beserah and Balok had clearly gone up and there had been no report of anyone selling property because of the Lynas issue.

If anyone wished to sell any property in the area, the Pahang state government would not hesitate to buy them and develop the area for various projects for the benefit of the people, he told reporters after the ground-breaking ceremony for the construction of the RD Prima Suites, here on March 26.

"Property development in the state, particularly in Kuantan, is still active and this shows the strong confidence of the investors and entrepreneurs in the property sector and economic climate in Pahang," he said.

Adnan said that according to the report of the Pahang Property Valuation Department, the price of low-cost terraced houses in Jalan Gambang rose from RM49,000 to RM68,000 per unit, while the price for three-storey shophouses in Jalan Beserah rose from RM700,000 to RM800,000 per unit.

Meanwhile, he said the RD Prima Suites project was a joint-venture between Rangkaian Delima Sdn Bhd and Sunrise Ria Resources Sdn Bhd comprising four components namely service apartments, hotel, office space and commercial shopping space besides providing multi-storey carparks, a swimming pool, a clubhouse and surau. He said the RM50 million project, expected to be completed by the end of 2015, was being developed on a one-acre site and construction work would begin in June. - Bernama

Looking for properties to buy or rent? With >150,000 exclusive listings, including undervalued properties, from vetted Pro Agents, you can now easily find the right property on Malaysia's leading property portal EdgeProp! You can also get free past transacted data and use our proprietary Edge Reference Price tool, to make an informed purchase.