Despite the prevailing economic uncertainties, industrial property sales in Malaysia are expected to increase at a moderate pace next year, while the increase in value of transactions is projected to stay at a low single-digit percentage.

According to Raine & Horne Malaysia senior partner Michael Geh, the projection was based on the National Property Information Centre’s (Napic) third-quarter 2017 report.

The transaction of industrial units in the country increased by about 33% or 1,639 units in the third quarter versus 1,224 units in the second quarter.

Compared to the corresponding period in 2016, the increase is about 18% from 1,320 units, according to the report.

“This shows that there is still investment coming in for industrial properties.

“The value of industrial properties transacted in the third quarter increased slightly by about 1% to RM2.62bil from RM2.6bil in the second quarter.”

Geh told StarBiz: “We observed that the sales involved units with smaller built-up areas, which explains the reason for the decline in the value of transactions.

“The interest from investors in industrial properties should continue in 2018.”

According to Geh, the Digital Free Trade Zone (DFTZ) project announced in the first quarter would further boost the interest in industrial properties.

Although the quarter-on-quarter increase is encouraging for industrial properties, Geh said the projection for transactions for 2018 should not be too optimistic.

The strong double-digit percentage increase in transactions in the third quarter could be just a one-off deal, added Geh.

“The country had an overhang of RM1.18bil worth of industrial properties, at about 900 units, at the end of 2016.

“In 2016, the country saw the lowest transactions of industrial properties since 2010.

“A total 5,609 transactions valued at RM12.02bil were recorded in 2016 compared to 7,046 transactions valued at RM11.97bil in 2015.

“There would be pressure on pricing due to the overhang, which would take some time to clear.

“This is why we are projecting a moderate growth for sales,” Geh added.

Since the second half, Geh said, the market has seen a lot of investments in industrial properties for logistics and e-commerce activities.

The DFTZ is scheduled for completion in 2025 and the hub will handle up to RM300bil worth of goods in the Asean region, providing a growth platform for the e-commerce and logistics industries.

“But we expect the impact of the DFTZ to kick in gradually due to the overhang in industrial properties in the market,” he said.

The DFTZ is an e-hub that was established in a joint effort between the Alibaba Group and the Malaysia Digital Economy Corp to focus on lowering trade barriers for small and medium enterprises to have more access to global markets.

The hub will function as a centralised Customs clearance, warehousing and fulfilment facility in Malaysia and for the region. The DFTZ is connected directly to the Cross-Border E-Commerce Pilot Zone in Hangzhou, where Alibaba’s headquarters is located, through Alibaba’s OneTouch e-services platform.

In Penang, the number of transactions for industrial properties in the third quarter increased by about 70% over the second quarter to 152 units from 88 units, according to the Napic report.

“Compared to the third quarter of 2016, the improvement is about 50%,” he added.

The value of industrial properties transacted in Penang increased slightly by about 2% to RM196.8mil in the third quarter from RM192.6mil in the second quarter.

“Compared to the third quarter of 2016, the drop was 20% to RM196mil from RM244mil,” Geh said.

In the north-east district, the current selling price of light industrial properties per sq ft ranges between RM1,050 and RM1,100, an increase of about 5% from 2015.

Source: TheStar.com.my

The longest water slide in the world – spanning one kilometre – is being planned for the ESCAPE theme park in Teluk Bahang here.

It will see thrill-seekers ascend 420m by chairlift to the top of a hill in the theme park to reach the start of the slide.

“From the hilltop, people will zoom down the slide which will cross Jalan Teluk Bahang beside a pedestrian link bridge and end in a swimming pool inside our water theme park,” said ESCAPE founder Sim Choo Kheng.

“The hilltop will also be the start of other rides like the luge (downhill sleds), zip coasters and tubby slides.”

Sim added that the water slide and other hilltop attractions, collectively known as Gravityplay, are slated to be opened by December next year.

Chief Minister Lim Guan Eng complimented ESCAPE for being rated the top theme park in Malaysia by TripAdvisor.

“This theme park brand was born in Penang and created by a Pe­­nangite.

“We will soon see the brand expand into other countries.

“I have been told that Sim Leisure Group has started negotiations for a major ESCAPE theme park in Thai­land,” he said.

Source: TheStar.com.my

Residensi Pauh Permai, formerly known as Residensi Permatang Pauh in mainland Penang, undertaken by Excel Focus Properties Sdn. Bhd. Strategically located within the established township of Permatang Pauh, only about 500 meters away from Butterworth-Kulim Expressway. Neighboring communities include Taman Naluri, Taman Naluri Ria and Taman Janggus Jaya.

The proposed development comprises two blocks of 34-storey condominium, offering 1,017 affordable units with standard unit size of 900 sq.ft.

READ MORE ABOUT AFFORDABLE HOUSING:

• Eligibility and the requirement of buying affordable housing
• Full list of affordable housing in Penang

Project Name : Residensi Pauh Permai
Location : Permatang Pauh, Penang
Property Type : Affordable housing
Total Units: 1,017
Built-up Area: 900 sq.ft.
Indicative Price: RM250,000
Developer : Excel Focus Properties Sdn. Bhd.

Location Map:

SITE PROGRESS

SITE PROGRESS: Residensi Permatang Pauh (Apr 2021)

SITE PROGRESS: Residensi Permatang Pauh (Sep 2020)

SITE PROGRESS: Residensi Permatang Pauh (Jun 2020)

SITE PROGRESS: Residensi Permatang Pauh (Sep 2019)

The applications for the First House Deposit Financing Scheme or MyDeposit for next year will be opened from tomorrow (Dec 15) until Feb 15, 2018.

Deputy Urban Wellbeing, Housing and Local Government Minister Datuk Halimah Mohamed Sadique said the public could register online at https://sprn.kpkt.gov.my.

“At the tabling of the 2018 Budget, Prime Minister Datuk Seri Najib Abdul Razak agreed to continue the MyDeposit scheme with an allocation of RM25 million,” she said when replying to a question from Senator Datuk Abidullah Salleh on the amount of aid channelled through the MyDeposit scheme and the number of recipients to date, at the Dewan Negara sitting today.

Since it was opened from April 7, 2016 until last October, 1,469 applications were approved with a payment amounting to more than RM39 million.

The MyDeposit scheme is aimed at helping the middle income group to buy their first home under private housing projects which did not get any subsidy.

Source: Bernama

What is MyDeposit Scheme?

First Home Deposit Scheme (MyDeposit) is a special product that was introduced by the Government to help the middle income group to own their dream home. The government has announced the allocation of RM200 million as a contribution to the deposit for the purchase of a first home per household.

In line with the National Housing Policy’s objectives to increase the people’s ability to buy their own house, MyDeposit Scheme was launched by the Government through the Ministry of Housing and Local Government.

If you are buying a new house below RM500,000 and your gross income is not more than RM10,000, then you are eligible to apply for MyDeposit Scheme. Successful recipients will receive a 10 per cent down payment of the house price or a maximum of RM30,000 for properties below RM500,000.

FIND OUT MORE ABOUT MYDEPOSIT SCHEME

George Town in Penang and Johor Bahru in Johor were identified as some of the cheapest locations for expatriates in Asia, according to research by ECA International.

The two cities join Mongolia’s capital Ulaanbaatar, Yangon (Myanmar) and Karachi (Pakistan) as some of the region’s most affordable cities.

Meanwhile, Kuala Lumpur is ranked 213th out of 262 cities in the global rankings.

ECA International carries out two cost-of-living surveys annually to help companies calculate the cost of living allowances.

“This highlights the curiosity of managing the movement of people in Asia for many companies and their HR departments. Asia is home to some of the world’s most expensive locations as well it’s cheapest.

“This level of variety is only matched in Africa which is home to both the world’s most expensive location and it’s cheapest,” said ECA International regional director for Asia Lee Quane in a statement.

Meanwhile, for the first time since 2014, Singapore is ranked 21st – dropping out of the top 20 most expensive cities in the world for expatriates.

The findings of the research showed that the Lion City fell by five places since 2016, having been overtaken in the rankings by cities such as Tel Aviv (Israel) and Copenhagen (Denmark).

“European currencies have performed very strongly over the past 12 months, outpacing many other currencies in the world – including the Singapore dollar.

“This has resulted in Singapore slipping down the rankings slightly, with some of the more expensive European cities rising above it on the table,” added Quane.

Having said that, Asian cities still dominate the global rankings, with over half of the top 50 most expensive locations surveyed this year located in Asia, with 14 Chinese cities alone making up the 26 Asian cities in the top 50.

In Japan, Tokyo gave up its global top spot, falling to eighth place.

Despite this, Tokyo remains the most expensive location for expatriates in the Asia-Pacific region. Other Japanese cities have performed similarly — with Yokohama, Nagoya and Osaka all dropping out of the top 10.

“Japanese cities have dropped in the rankings as the yen has weakened in the last year. However, with four cities in the global top 20, Japan is still an expensive place for expatriates,” added Quane.

Hong Kong is once again one of the top 10 most expensive locations in the world for expatriates, ranking ninth out of the 262 cities in ECA International’s ranking.

On the global rankings, Luanda (Angola) tops the list. It has been among the top five most expensive cities since 2012.

“The cost of goods typically purchased by international assignees in Luanda, which was already high due to poor infrastructure and significant oil-fuelled demand, continues to be pushed even higher.

“The Angolan kwanza is increasingly overvalued, which pushes up relative costs; while the ongoing weakness of the black-market exchange rate has also inflated the price of imported goods,” said Quane.

Khartoum, Sudan, is up to second place in the global rankings and has risen by 224 places in just five years, as currency shortages and rising prices continue to impact the African nation.

Central London has slipped down the rankings and is now the 139th most expensive location for expats, down 36 places on the 2016 survey and falling 78 places in five years.

Other UK cities have shown the same trend, with the next most expensive cities, Edinburgh and Manchester, dropping to 163rd and 173rd, respectively.

Source: EdgeProp.my