Tuesday, 8 October 2013

Only 10% of land proposed for Kidex will be acquired

ONLY 10% of the proposed 3,784 lots of land and houses may be acquired by the Government for the proposed Kinrara-Damansara Expressway (Kidex).

The Malaysian Highway Authority deputy director-general Mohd Saleh Santhiman said although 3,784 lots comprising residential, commercial and industrial land, were part of the preliminary study, only 10% might finally be acquired for the project.

Mohd Saleh said the highway routes were the same as mentioned by Bukit Gasing assemblyman Rajiv Rishyakaran at a press conference with the media recently.

It will start from New Klang Valley Expressway (NKVE) and head towards Kinrara in Puchong.

“The Kidex expressway will mostly be an elevated highway, passing over some of the existing roads.

“We are now in the study stage and the number of lots that will be acquired can only be determined once the road design is finalised,” he said.

The expressway will pass through areas such as Tropicana Mall, SSTwo Mall, Rothman’s traffic light, Section 14, Amcorp Mall, Hilton Petaling Jaya, Jalan Templer roundabout, Taman Datuk Harun, Taman Medan Baru and Bandar Kinrara.

Mohd Saleh said the public would be briefed on the highway project during the land surveying process but did not state a date.

In a StarMetro report recently, it was stated that 3,784 lots of land, mostly in Petaling Jaya, might be acquired by the Government for Kidex.

The matter was first highlighted by Rajiv and Petaling Jaya City councillor Lee Suet Sen.

It also said Petaling Jaya Utara MP Tony Pua had raised the issue in Parliament recently.

It was also reported that residents want the relevant bodies to keep them informed on the proposed project.

They said they should be included in the decision-making process.

The residents, mostly senior citizens, added that they were worried their houses might be acquired for the highway project.

They said the Government should provide better public transport such as the LRT or bus services, instead of spending money on Kidex.

Kidex is estimated to cost RM2.2bil.

The Star, 3/10/2013

E&O plans Klang Valley township

NEW GROWTH ENGINE: Penang-based developer in talks with Sime Darby to buy land in Sungai Buloh

Eastern & Oriental Bhd (E&O) is looking at a vital new growth engine by building its first township in the Klang Valley.The Penang-based developer is in talks with its major shareholder, Sime Darby Bhd, to buy 55ha of land in Sungai Buloh, Selangor.

The latter owns 32 per cent of E&O. The plot is part of the larger 341ha under Sime Darby’s Elmina West estate off the Guthrie Corridor Expressway.

Both parties yesterday sealed a memorandum of agreement to facilitate discussions and valuation on the land acquisition.
A firm sale and purchase agreement is expected by March next year, E&O told Bursa Malaysia yesterday.
The company has been busier in Penang with key projects such as Seri Tanjung Pinang, although it also owns tracts of land with smallscale projects in the Klang Valley.


It is also developing 85ha of land at Medini Central in Iskandar Malaysia, with an estimated gross development value of RM3.5 billion.

E&O is reportedly targeting to launch RM1.5 billion to RM2 billion of property projects a year from financial year ending March 31 2014 to 2016.

This will be increased to RM3 billion to RM4 billion worth of launches to achieve sustainable net profits of RM270 million to RM300 million from 2017 onwards.

If it materialises, the freehold Sungai Buloh land will be its maiden township project in the Klang Valley, the company said.

The project will be based entirely on a wellness theme, comprising both commercial real estate and lifestyle residential development.

“The development will offer E&O ample opportunity to deliver unique wellness products that meet the aspirational lifestyle needs of an increasingly discerning market,” it said.


Business times, 26/9/2013

Tuesday, 1 October 2013

Mah Sing to develop RM5bil freehold township in Pasir Gudang, Johor over next seven years

PETALING JAYA: Mah Sing Group has acquired about 547ha of freehold land in Pasir Gudang, Johor, and will develop it into a mega township over the next seven years.
The land was purchased for about RM430mil and the money will be paid over four years.
Mah Sing group managing director and group chief executive Tan Sri Leong Hoy Kum said the project, with a gross development value of RM5bil, would be the group’s biggest township so far and its fifth in Johor since 2000.

The developer intends to tap on spillover demand from its existing township nearby, Sierra Perdana. “The reasonable entry cost of RM7.30 per sq ft for the new land, coupled with the deferred payment term of 48 months, tie in very well with Mah Sing’s strategy. Over a period of seven years, we will create a very nice, master-planned township, which will change the landscape of the locality for the better. “Besides tapping the spillover demand from our existing township of Sierra Perdana, there is a ready catchment of 100,000 people in Pasir Gudang alone,” he said in a statement.
The land is situated 5km from the Pasir Gudang town centre, 9km from Masai town, 28km from the Customs, Immigration and Quarantine complex via the Eastern Dispersal Link and Coastal highway, 40km from Johor Baru city centre and 50km from the Senai International Airport.
It is located between Pasir Gudang and and Tanjung Langsat, two of the largest industrial basins in Johor, which are key components in the Flagship D: Eastern Gate of Iskandar Malaysia.
“It is only 80km from Penggerang which, together with Tanjung Langsat and Tanjung Bin, is the focal point of Iskandar Malaysia’s much touted oil and gas hub in Asia-Pacific. This will provide a latent demand for housing.
“The Johor Public Works Ministry has also conducted a feasibility study for a third bridge linking Johor Baru and Singapore, with Pengerang identified as the potential site for the bridge in Johor,” Leong said.
He added that besides residential and commercial components, Mah Sing would explore retail, recreational and industrial elements for the township after a more thorough market survey and consumer needs analysis.
“We will integrate security features, soft and hard landscaping, clubhouse and various facilities and amenities in the township,” he said.
He added that Mah Sing’s expertise in township planning in the Klang Valley would come in handy.
“We are confident that we can replicate the success of our previous townships with this new land,” Leong said.(The star Oct 2, 2013)