News by M

AN undersupply of affordable housing, particularly in major urban areas, coupled with an oversupply of office and retail spaces, may lead to deeper imbalances in the property market, says Bank Negara Malaysia in its 2015 annual report, which was released recently. Despite a 35% increase in housing stock since 2005, the gap between the housing stock and the number of households widened from 2.1 million units in 2005 to 2.5 million in 2015. Annual housing completion has declined considerably in the past five years as the number of households continued to grow. There was an estimated average shortage of 85,911 housing units per year between 2011 and 2015.

WCT Holdings Bhd has been awarded a RM133.9 million contract from Mass Rapid Transit Corp Sdn Bhd (MRT Corp) to redevelop the police quarters in Gombak.

Dissatisfaction over expensive home prices has been escalating in Malaysia in recent years, with prices now reportedly beyond the reach of an average worker in key states like Kuala Lumpur and Penang. The situation, as many have lamented, is also not helped by the government’s move towards rationalising subsidies and the introduction of the goods and services tax last year.

Malaysian Resources Corp Bhd (MRCB)’s Penang Sky Cab, a 4.8km cable car system first mooted by the state government in March last year to connect mainland Penang in Butterworth and Jelutong in Penang Island, is expected to begin construction in the first quarter of 2018 (1Q2018).

The shift of focus to affordable housing below the RM500,000 per unit range, which has been seeing more resilient demand than higher-end properties, may strain the margins of developers, especially those who are not traditionally involved in this housing category, said Kenanga Investment Bank.

The development of Kuching has helped the largest state in Malaysia earn a key position in the country’s economic growth. Sarawak only trails behind Selangor and Kuala Lumpur in term of gross domestic product.

This week, the spotlight falls on the secondary market of non-landed residences in Sentul, Kuala Lumpur. Areas covered are anchored by Jalan Sentul and include Taman Pelangi, Bandar Baru Sentul at the north and YTL Land & Development Bhd’s Sentul East redevelopment at the south.

CEO confident of achieving profitability in 2017.

We understand that the acquisition of Menara Shell is still in progress, and injection into MRCB-Quill REIT (MQREIT) could take place in early 2017.

Perak, which was once considered the jewel in the British colonial government’s crown, is slowly working to gain a competitive advantage with numerous industrial developments and by becoming a tourism hot spot the likes of Penang and Melaka.