Involvement in the development of North Jakarta’s Islamic Financial District (IFD).
Following the recent cancellations/postponements of megaprojects and downsizing of the mass rapid transit 2 and LRT3 projects, coupled with a slower property market, we expect competition in project tenders to intensify.
Being faced with a maintenance fee hike post DLP is quite common, simply because the theoretical calculation of cost and the cost of actual maintenance can never be the same. More often than not, it has to be raised. Whether this is ethical or not, is debatable.
There needs to be a seamless public transportation system involving buses and inter-city rail connectivity for the congestion tax to have a positive impact on traffic flow and the environment.
The group’s property development division reported an FY18 revenue of RM619.6 million (-31.8% y-o-y) and profit before tax (PBT) of RM158.6 million (-32.6%) mainly due to the adoption of the Malaysian Financial Reporting Standards (MFRS) 15 whereby profits of property development projects in Singapore and China can only be recognised upon completion.
What happens if the developer is unable to find enough bumiputera buyers for the bumiputera units?
The recently launched mixed development in Bukit Jalil is called The Tropika. Over 800 people showed up for the Feb 23 launch which has seen 60% of the condominium units in Tower A snapped up in less than a week.