News about US

The Vision Business Park (VBP) features an 80:20 industrial-to-commercial ratio, with 623 acres for industrial use and 137 acres for commercial businesses of all sizes.

Some prospective investors have made multiple visits and are exploring setting up integrated operations through the recently established Iskandar Malaysia Facilitation Centre, according to the Iskandar Regional Development Authority (IRDA).

The sale of the property to an investment firm, Airique Property Sdn Bhd, is expected to be completed by the third quarter of 2025, with an estimated net pro forma gain of RM4.

The project, a joint venture with Belgium-based Port of Antwerp-Bruges International (PoABI), is designed to be a long-term, sustainable maritime and industrial hub that is centred on value-added and innovation-driven industries.

“Make sure that what is advertised is already in the sale and purchase agreement (SPA).

“If you have multiple phases, there are still some issues and grey areas that need to be addressed … We’re seriously looking into it with the government now, hoping that [the old act will be] overhauled to address these issues, especially those concerning strata management,” Tan said.

Director-general Datuk Jayaselan K Navaratnam said one of the key changes will be to clearly separate the responsibilities between the Strata Titles Act 1985 (Act 318) and the Strata Management Act 2013 (Act 757), with the former focused on ownership and the latter on building management.

Fajarbaru said the work is scheduled to begin on April 11 and will span nine months, with completion expected by Jan 10, 2026.

“If 100 sq ft is built first as an increment, but in the future, the goal is to have 80-sq m (861 sq ft) houses, 80 sq m of land must be allocated today.

“As a result of the blacklisting, these developers will be ineligible to apply for new licences until they have settled their outstanding fines.