Archive for Property News
Developers: Foreign labour cut could lead to delay
Developers: Foreign labour cut could lead to delay
Developers: Foreign labour cut could lead to delays and higher property prices
KUALA LUMPUR: Developers are concerned that the Government’s move to reduce the number of foreign workers in the country will result in project delays, leading to possible price increases in property.
Almost 100% of construction workers in the [...]
Penang cancels requirement for performance bond
Penang cancels requirement for performance bond
Penang cancels requirement for performance bond for Class F contractors
PENANG: The Penang government has cancelled the requirement of performance bond for Class F contractors with immediate effect.
Chief Minister Lim Guan Eng, when announcing this on June 2, said this was in line with the state government’s decision to adopt the [...]
Property price increases to moderate as higher BLR
Property price increases to moderate as higher BLR
KUALA LUMPUR: In mid-May, Bank Negara Malaysia (BNM) revised its key Overnight Policy Rate (OPR) by another 25 basis points, following a rate hike by the same quantum earlier this year.
Shortly after that, most banks revised their Base Lending Rate (BLR) accordingly to 6.05%. After a total interest [...]
More than 10% Economic Expansion in First Quarter for the First Time in 10 years
More than 10% Economic Expansion in First Quarter for the First Time in 10 years
KUALA LUMPUR: The country’s economy is likely to register growth of more than 10% in the first three months of the year – an achievement not seen in the last 10 years.
The latest economic indicators show a positive trend. Exports in [...]
UN redoubles efforts to house Haiti’s homeless
UN redoubles efforts to house Haiti’s homeless
he head of the UN mission in Haiti Edmond Mulet unveiled new efforts Tuesday to provide secure housing to thousands of people made homeless by January’s devastating earthquake.
One key component of the UN plan would offer assistance to homeowners, enabling them to rehabilitate houses that might have been damaged [...]
Penang state government set to create a greener…
Penang state government set to create a greener…
Penang state government set to create a greener public realm
GEORGE TOWN: Penang is launching a green initiative, roping in the private sector, non-governmental organisations, the media, government agencies and other stakeholders to work towards making George Town an international city.
The “Cleaner Greener Penang” initiative, to be launched on [...]
PLB acquires land in Penang for RM38m
KUALA LUMPUR: PLB ENGINEERING BHD [// ] has successfully tendered for 19.86 ha (49.08 acres) of land in the southwest district of Penang island for RM38 million cash as it seeks to expand its land bank.
PLB said on Monday, April 5 its unit PLB Land Sdn Bhd had signed a memorandum with the High Court [...]
Property prices may rise 5% to 10%
Property prices may rise 5% to 10%
Property prices in Malaysia are forecast to increase by 5% to 10% this year against last year in line with the recovering economy.
Association of Valuers, Property Managers, Estate Agents and Property Consultants in the Private Sector Malaysia president James Wong said the market did not expect a big jump [...]
Challenging times for condominium segment
Challenging times for condominium segment
THERE is an oft-quoted line: what goes up, must come down. With the anticipated recovery in the property sector, the focus now turns to the condominium market. Over the last decade or so, this segment has increasingly become a very big sub-segment of the property market.
The overall perception today is that [...]
Developers optimistic on 2010 outlook
Developers optimistic on 2010 outlook
GEORGE TOWN: Property developers are optimistic that there will be growth in the local sector despite the cooling off of the broader regional market.
This is based on the Government’s projection of a 3.2% gross domestic product (GDP) growth this year, the brisk sales of high-end properties in Kuala Lumpur and Penang [...]
