KUALA LUMPUR: The Malaysian Anti-Corruption Commission (MACC) will open an investigation paper (IP) on Penang Chief Minister Lim Guan Eng over his alleged purchase of a house in the state at an undervalued price. A reliable source said the IP would be opened under the MACC Act 2009, “for allegedly receiving a bribe from a … Read more
Work at its 24-acre Batu Kawan site has started GEORGE TOWN: The first IKEA store in the northern region will open in Penang by the third quarter of 2018. Ikano Pte Ltd, the owner of the IKEA franchise holder in Singapore, Malaysia and Thailand, said work at the Batu Kawan site had started and plans … Read more
KUCHING, March 12 (Bernama)–Property developers’ participation is vital in ensuring the successful delivery of 500,000 units of PR1MA homes nationwide, worth more than RM100 billion. Perbadanan PR1MA Malaysia (PR1MA) chief executive officer Datuk Abdul Mutalib Alias said the participation from developers, both public and private, through collaborations with PR1MA was critical in ensuring the success … Read more
The US National Association of Realtors (NAR) has stated that demand from foreign buyers is weakening, with the strong US dollar and rising home prices forcing some investors to look at other countries that offer more value, reported The Wall Street Journal recently. Many experts had predicted that foreigners would flood the US property market … Read more
In January 2016, benchmark crude reached a 12 year low with prices falling under $30 a barrel because of oversupply in the market driven by the decision of OPEC to defend market share and not reduce supply. Decrease in the price of oil has many multiplier effects we will try and examine how a low … Read more
With four ongoing large-scale projects, Malaysia’s Johor state is set to become the next economic powerhouse in the country behind Klang Valley, reported The Star Online. These mega developments comprise the multibillion-ringgit Forest City, the oil and gas facilities in Pengerang, the double-tracking project between Gemas and Johor Bahru, and the Kuala Lumpur-Singapore high-speed rail … Read more
KUCHING, Mac 3 (Bernama) — Sarawak targets to build 9,185 units of quality affordable homes under eight development projects by 2019. Its Housing Minister Datuk Amar Abang Johari Tun Openg said his ministry was cooperating with the state Housing Development Commission, Perbadanan PR1MA Malaysia (PR1MA) and local developers to build them. Speaking at a news … Read more
PUTRAJAYA, March 3 (Bernama) — The Urban Wellbeing, Housing and Local Government Ministry through the National Housing Department (JPN) has never offered the 1Malaysia Affordable Housing Scheme (K1MMM) to the public. JPN director-general Datuk Mohamad Yusoff Ghazali said the bogus scheme offered by Serata Prima Sdn Bhd was using the logos of the ministry, the … Read more
KUALA LUMPUR, March 2 (Bernama) — First time house buyers should shop around to find financing which best suits their needs as certain commercial banks do offer special packages for first timers, says Association of Banks in Malaysia (ABM). ABM also suggested that these first timers work with their financiers when assessing the suitability and … Read more
KUALA LUMPUR, March 2 (Bernama) — The government has agreed to review the National Housing Policy, especially related to property prices, which was proposed be decided by the government, not just to market forces. Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi said the government via the Urban Wellbeing, Housing and Local Government Ministry … Read more