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“We hope the government will provide additional catalysts to the industry and incentives for home buyers by introducing more property friendly measures in the upcoming Budget 2022. We also hope that the country’s borders will open up soon, with suitable guidelines to enable cross border economic activities to resume, emulating other countries which have successfully re-opened for foreigners," said Mah Sing’s founder and group managing director Tan Sri Leong Hoy Kum.

The land is about 30 times the size of the White House and the project would be one of the city’s priciest private developments for decades.

Set up in 1890 to provide not-for-profit transport services, the rail operator has racked up billions in liabilities through money-losing operations. Though the idea of generating income from SRT assets has been around for years, the plans are only now taking shape.

It also added that the rent-to-own programme will be expanded to cover houses priced up to RM500,000, with an option to purchase the property within five years of renting it. 

A commemorative plaque was unveiled to celebrate the momentous event.

“This is an example of how a green lung can be at risk if it is not gazetted as a green lung in the first place in the Kuala Lumpur City Plan 2020. We have made so many objections previously and called for the Federal Territories Minister to gazette Federal Hill as a green lung, and this is precisely what we were trying to prevent,” said SKL chairman Datuk M. Ali.

Dubbed MIRA at Shorea Park, the serviced apartment project is the first phase of the 27.77 acres Shorea Park’s integrated development in Puchong

It is crucial for the stakeholders to understand the government’s fear factors and also to let the authorities know the consequences to the country if such stringent new rules are implemented.

A head of research at a local investment bank said that any impact “will be short term in nature and only affect the appetite of the Mainland Chinese for properties, and not the health of the financial system itself”.

Max Cheung: After work, I would eat in the TVB canteen cause it was cheaper, and I would deliberately stay back late after filming on location cause they would prepare meals for us. If I went home earlier, there wouldn't be any meals available.