Property Hunter Magazine Issue 63- February 2015 | Page 46

WEST MALAYSIA PROPERTY NEWS

DOE Sets New Limits To
Controversial Johor Straits
Housing Project

C

hina developer Country
Gardens Holdings can only
develop less than 1,000
acres (405ha) or a quarter of
its controversial 1,600 hectares
Forest City project in the Johor
Straits under new limits set by the
Department of Environment (DOE).
The Malaysian Insider has learnt
that the DOE has verbally informed
Country Garden Pacificview Sdn Bhd
(CGP), a joint-venture unit of Country
Gardens Holdings Co Ltd, of the new
limits after complaints from locals
and the Singapore government over
reclamation works in the narrow
waterway between Malaysia and the
island state.
“The DOE has decided to limit the
project to the first phase and wait
for a few years to see the impact
before looking at future phases,” a
source told The Malaysian Insider.
“The DOE is expected to send an
official letter about its decision
soon to relevant parties,” he added.
Country Gardens Holdings is China’s
seventh-largest property developer
with a market capitalisation of
HK$63 billion as of December 31,
2014. Its financial revenue for the
financial year ended June 30, 2014,
was HK$38.3 billion with HK$5.5
billion nett profit.
Another source said Malaysian
environmental authorities made

their decision after Singapore
presented videos and documentary
proof of continued reclamation
works for the ambitious ChinaMalaysia joint-venture project. It
is understood that the evidence
was presented at the last MalaysiaSingapore Joint Commission on
Environment (MSJCE) which met
last month.
Singapore had raised the issue
of reclamation works near its sea
border as it had effects on its
coastal areas. The reclamation
works had also affected Malaysia’s
nearby key transhipment hub, the
Port of Tanjung Pelepas (PTP). Last
September, the Johor government
said it wanted Country Garden
Pacificview (CGP) Sdn Bhd, the
developer of Forest City, to comply
with the Environmental Impact
Assessment (EIA) before developing
the project at Tanjung Kupang,
Gelang Patah. Johor Menteri Besar
Datuk Seri Mohamed Khaled
Nordin had said it was important to
ensure issues such as environment
were given full attention and
regulations were adhered to. “We
hope the developer complies with
the requirement to submit an EIA
report, which is very important for
us to ensure all concerns, including
from the environmental aspects,
are given attention,” he said in
Johor Baru.

Reclaimantion works in Johor curtailed by new DOE limitations

46

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Mah Sing Targets Mass
Market Segment

G

Tan Sri Leong Hoy Kum briefing Minister Of Urban Wellbeing, Housing
and Local Government Datuk Rahlan Dahlan on the company’s
development projects during its annual charity dinner

iven that the majority of its
project launches for next
year are priced below RM1
million, Mah Sing is optimistic that
these mass market homes will see
strong demand in 2015.

“This is due to first time
home buyers, upgraders,
new household
formations and
government incentives
for first time home
buyers under Budget
2015,” according to its
Group CEO and Group
Managing Director Tan
Sri Leong Hoy Kum.
Aside from that, mass market
homes that it had previously
released had seen good takeup, such as the D’sara Sentral in
Sungai Buloh, Lakeville Residence
in Taman Wahyu at Kuala Lumpur
and Savanna Executive Suites in
Southville City@ KL South in Bangi.
Units at these projects are priced
from RM548,000, RM529,800 and
RM338,000 respectively.
Moreover, its Lakeville Residence
in Kepong is expected to benefit
from the Light Rail Transit (LRT),
Mass Rapid Transit (MRT) and the
planned High Speed Rail project,

while the appeal of its recently
bought land in Shah Alam is
projected to grow as LRT3 will pass
through Section 13.
Over at Johor, Mah Sing’s Bandar
Meridin East project is expected
to become sought-after due to its
proximity to the Pengerang oil and
gas project which is estimated to
generate 10,000 new jobs, while
Southville City@KL South in Bangi
is accessible via MRT 1 and 2 in
Putrajaya and Kajang.
“In 2014, Mah Sing acquired
landbanks in both Puchong and
Seremban, to target the mass
market and upgraders. The
developments in Puchong and
Seremban are intended to offer
mass market products with pricing
starting from RM585,000 and
RM350,000 respectively,” he added.