The Housing and Local Government Ministry (KPKT) is formulating a tax that could be imposed on developers who fail to sell their properties as early as early next year, in an effort to reduce overhang of residential units in the country.

Sold for: RM1.8 million (RM847 psf against land size); Concluded by: Zack Ng Kah Chuan (PEA 2049) (016-222 9045) of Pepite Real Estate Sdn Bhd; When: March 2020

Cyberjaya tech hub developer Cyberview Sdn Bhd has appointed Chief Secretary to the Government Tan Sri Mohd Zuki Ali as its non-executive chairman.

Many are amazed by how a former quarry mine where no plants could grow is now an award-winning township with two man-made lakes teeming with fishes and aquatic plants that have become popular recreational areas for its residents and even the public. 

Anchoring the verdancy in the heart of Desa ParkCity is the 13.19-acre Central Park with a 6.34-acre man-made lake. It draws denizens both from inside and outside the township because it is a pet-friendly public park, a rarity in Kuala Lumpur. The decision to turn it into a pet-friendly park was to make it an inclusive park which everyone could enjoy.

Plaza Arkadia had also bagged the Gold in the below 10 years mixed development (entire) category of EdgeProp Malaysia’s Best Managed and Sustainable Property Awards 2020.

Situated on an 11.32-acre freehold site, Plaza Arkadia has a net lettable area of over 860,000 sq ft, complemented by 1,980 car park bays. It consists of 211 shops, 139 offices and 167 SoHos — all which were fully sold within 15 months after launch. As at December 2019, the retail and office units have achieved at least 90% overall occupancy rate, while the SoHos have an occupancy rate of 63%.

Launched 18 years ago, the township was purposed to promote an inclusive community, where all residents enjoy a walking distance to the park through its network of roads and sidewalks.

“Investors should focus on popular occupier centres with above average rent growth over five years, such as Singapore, Bangalore, Melbourne CBD and Auckland.”

Of the seven new cases, four were imported cases involving two Malaysians and two foreigners.