Developers to enjoy 50% discount by DBKL

Property developers are rejoicing as Kuala Lumpur City Hall (DBKL) has announced a 50% discount on development charges for high-density projects starting this month.

DBKL Urban Planning Department director Sharom Ujang said the discount served as an incentive to encourage developers to continue building the city despite the slow economy.

SBC to launch property projects worth RM500mil

SBC Corp Bhd is looking to launch projects worth RM500mil in gross development value (GDV) and is targeting to achieve between RM150mil and RM200mil in sales next year.

The company is currently working on getting the final approvals for its flagship RM1.8bil Jesselton Quay project in Kota Kinabalu.

Eco World bets on Ijok

Developer aims big with a RM1.18bil move to buy over 2,000 acres

Property magnate Tan Sri Liew Kee Sin (pic) was once criticised for buying 4,000 acres in Shah Alam to develop a self-contained integrated township.

Eco World plans to buy land in Kuala Selangor

Eco World Development Group Bhd has proposed to buy 2,198.4 acres of leasehold land in Ijok, Kuala Selangor for RM1.181bil.

In a filing with Bursa Malaysia, Eco World said its unit, Paragon Pinnacle Sdn Bhd (PPSB), had entered into five separate sale and purchase agreements with Mujur Zaman Sdn Bhd, Ringgit Exotika Sdn Bhd, Liputan Canggih Sdn Bhd and LBCN Development Sdn Bhd to buy the land.

PR1MA says on track to deliver 500,000 homes

Perbadanan Prima Malaysia (PR1MA), which is tasked to build affordable homes under the 1Malaysia Housing Programme, is sticking to its target to deliver 500,000 new housing units.

While no new time frame had been announced, PR1MA said in a statement yesterday it will meet the “delivery deadline collectively by consolidating its operation with the developers.”

IJM launches second phase of Pantai Sentral Park

Despite a lacklustre property market, IJM Land Bhd has announced the average selling price of the second phase of its Pantai Sentral Park project at RM780 per sq ft, which is RM100 higher than the first phase of the 58-acre integrated development.

Managing director Edward Chong Sin Kiat told StarBiz: “The overall market is facing headwinds but there is still demand. Customers are more selective now when it comes to the pricing, location and unique selling point of the houses.”

EcoWorld nears RM3bil sales target

Despite the soft demand in the local property market, Eco World Development Group Bhd (EcoWorld) is confident it will meet its sales target of RM3bil for its current financial year ending Oct 31, 2015, driven by its brand profile and township development.

In a statement yesterday, EcoWorld said its immediate plan included the launch of Eco Meadows in Seberang Prai and Bukit Bintang City Centre (BBCC) in Kuala Lumpur, which would set up a solid foundation for its growth.

Paramount’s education play

While the property sector may not be in vogue, several listed developers have diversified into other businesses that provide a cushion to the slowdown in property sales.

One such company is Paramount Corp Bhd. Its other business is education, which promises growth prospects amid the weaker ringgit.

AZRB clinches RM386.6 million mixed development project

Ahmad Zaki Resources Bhd (AZRB) has clinched a mixed development project worth RM386.65 million, which forms part of the multi-billion ringgit redevelopment of the 113-year old Kampung Baru in Kuala Lumpur.

In a stock exchange filing yesterday, AZRB said its unit, Ahmad Zaki Sdn Bhd, had received a letter of acceptance of tender from Uda Legasi Sdn Bhd, a unit of Government-owned UDA Holdings, which is playing a prominent role in the redevelopment project.

New Wangsa Maju development opens for sale

Those looking for a property which has excellent connectivity and a natural landscape, may want to look at Infiniti 3 Residences in Wangsa Maju, Kuala Lumpur.

The Infiniti 3 Residences development is situated on an elevated site in the suburb of Wangsa Maju, next to lush greenery on one side.

Sentoria unveils 2nd resort city

Theme park operator-cum-property developer Sentoria Group Bhd has launched its second resort city, Borneo Samariang Resort City (BSRC), in Kuching.

The project, which is expected to have a total of RM2bil gross development value (GDV), would spread across 500 acres. This is equivalent to RM4mil per acre.

Titijaya scales down 2016 sales target

Titijaya Land Bhd has targeted RM400mil in sales for the financial year ending June 30, 2016, 20% lower than the RM500mil of sales it achieved in FY15. The prudent move is in light of the soft economic climate.

Deputy group managing director Lim Poh Yit said Titijaya would scale back its launches in order to be cautious moving into the new financial year, in spite of its net cash position.

China developer to launch RM1.2bil project

New landmark: An artist’s impression of Agile Mont Kiara, a 10-acre freehold residential development by Agile Real Estate.

Hong Kong Stock Exchange-listed Agile Property Holdings Ltd is proving that there is good demand for Mont Kiara living by building a RM1.2bil residential project there.