Real Estate & Construction News in Malaysia from Propertyshowrooms.com

Johor 'a hotspot for Malaysian property development'

Tue, 6 Mar 2012 00:00:00 GMT

Johor, a state in southern Malaysia, is set to become a hive of activity for property developers in the nation.

In an interview with the Malaysia Star, president and chief executive officer of SP Setia Bhd Tan Sri Liew Kee Sin explained projects in the region have become his company's main source of income.

He told the publication sales of properties in Johor are not expected to slow down over the course of 2012, while the firm still has several pieces of land in the Iskandar development zone where it can build new schemes.

The state's main city, Johor Baru, has long been the first choice for Singaporeans seeking real estate in Malaysia, Mr Liew added, which is one of the reasons why his organisation chose to focus on the region over a decade ago.

The Iskandar development zone covers 221,634 hectares and the aim is to turn it into a thriving metropolis with its own economy. Firms that operate in sectors such as education, healthcare, tourism and logistics within the region will be eligible for tax breaks, among other incentives.

Malaysia house prices expected to climb

Mon, 23 Jan 2012 00:00:00 GMT

Developers in Malaysia believe house prices in the nation are likely to increase over the coming 12 months, new research has revealed.

A survey conducted by the Real Estate Housing Developers' Association Malaysia (REHDA) found that around 74 per cent of respondents anticipate a rise in the cost of residential property during 2012.

Of those, 36 per cent are predicting a ten to 20 per cent jump, while 31 per cent believe the hike will be under ten per cent. The remaining seven per cent thought prices could rise by more than one-fifth.

The increasing cost of purchasing a property in Malaysia has been attributed to the higher price of labour and materials.

As a result, optimism about the state of the country's real estate sector is lower than it was six months ago, the REHDA study found.

Speaking at the launch of the research, president of the organisation Datuk Seri Michael Yam said: "Our members are more cautious towards market conditions due to more compliance requirements imposed on the housing industry, global economic uncertainty and inadequate information and data with regards to on-stream demand and supply."

In March, the REHDA will host the Malaysia Property Exhibition, which is expected to lead to real estate sales of between 50 million and 100 million Malaysian ringgits (£10.4 million and £20.8 million), Bernama News Agency reported.

Drop in building material prices benefits contractors and Govt

Mon, 22 Dec 2008 00:00:00 GMT

THE slump in building material prices will not only benefit contractors but also save the Government a significant amount of money. In the middle of this year, the Government agreed to include the...

UEM Builders investors have several options

Wed, 10 Sep 2008 00:00:00 GMT

UEM Builders Bhd shareholders have several options before the shares of UEM World Bhd go ex on Sept 11, according to a local brokerage...

Malaysian property market slowing as developers warn of soaring costs

Wed, 23 Jul 2008 00:00:00 GMT

Buyers in Malaysia are facing rising prices because of soaring construction costs, it is claimed...

'Incredible' value in Malaysia

Thu, 12 Jul 2007 00:00:00 GMT

Investors in Asian property should look no further than Malaysia for good value and user-friendly regulation, according to a developer.

Project director for planning and business development at E&O Property Development, Mohd Razeek Hussain, claims that foreign investors are initially attracted by architectural style, tropical weather and scenery but the bottom line is that Malaysian property is well priced.

Speaking to Property Report, he said: "For me, the biggest lure is the value when compared to other countries.

"Where else can you buy a landed property this close to the water at such prices?"

Mr Hussain said an additional bonus was that other areas like Phuket and Bali demand cash up front for the property but in Malaysia only a ten per cent deposit was required.

"The value in Malaysia is incredible, while ownership regulations and access to funds are straightforward," he added.

The Foreign Investment Committee recently relaxed legislation for foreign buyers, suggesting that this would boost the country's potential for property investment from abroad, the Malaysian Star reported recently.

Malaysia looks to attract foreign buyers

Mon, 9 Jul 2007 00:00:00 GMT

Efforts are being made to attract foreign buyers to the Malaysian property market, with the government spearheading a new promotion designed to encourage foreign developers to enter the market.

To this end polices are being implemented that are conducive to the addition of foreign developers in Malaysia with the view of creating favourable economic conditions for future building and infrastructure development.

One expert, Tan Sri Liew Kee Sin, managing director of SP Setia Bhd is confident in the appeal of Malaysia to foreign investors, in light of the government's efforts to attract overseas developers.

"Developers should take the cue from the government’s actions to step up marketing and promotion efforts to capture a bigger share of the global real estate market," he said according to the Malaysia Star.

"The government also needs to accelerate efforts to create a more favourable business climate," he added.

Meanwhile the Malaysian government has outlined plans to make the country an international property hub through collaborative efforts with the private sector.

Malaysian government to change investment rules

Fri, 15 Jun 2007 00:00:00 GMT

Foreign investors are to be tempted to Malaysia by a relaxation of its strict rules, Prime Minister Abdullah Ahmad Badawi has said.

Depending on the success of moves to redevelop the southern state of Johor, which is seeking billions of dollars of investment from abroad, the prime minister commented that there was a possibility it could be repeated across the country, reports Bloomberg.

Johor, which is already one of the most developed states in the country, is looking at a two-decade plan of improvements.

According to the news agency, the government scrapped capital gains tax on property that was prohibitive to foreign investors earlier this year, enabling them to take out more than three mortgages from local lenders, while also offering new tax incentives.

In related news, Fidelity International recently claimed that the Malaysian commercial property market had benefited from greater urbanisation and industrialisation in recent years, reports Easier.

The firm noted that such trends had resulted in demand for commercial space increasing.

Malaysia announces property investment measures

Wed, 18 Apr 2007 00:00:00 GMT

The Malaysian government has announced new measures in order to boost investment in the country's property sector.

One of the strategies is to speed up approvals for development applications from three or five years to six months.

Prime minister Abdullah Ahmad Badawi said that shortening the timeframe will have a positive impact on the construction industry and investors, who want less bureaucracy and fewer hidden costs.

"Today's initiatives will also contribute to improving the performance of the property and construction sectors," he stated.

"If the services that are provided can be sped at the local council level, more than 70 per cent of the complaints from investors, businessmen, consumers and the public concerning the public sector will be answered," he said.

Another measure is to only allow finished properties to be sold to investors, so that the risk of incomplete developments does not present a financial risk to foreign buyers.

Earlier this month, Malaysia scrapped capital gains tax on all property deals in an attempt to "inject more excitement and dynamism" into the market.