/// West Malaysia Property News
Johor Identifies Nusajaya as the First
Area to Have Free Connection
House Prices in KL, Johor and Penang
Jump by More Than 30% in 2013
Explosive Growth Coming for Eco World
shares to raise RM1.37
billion and a rights issue
to raise RM788 million
to fund the acquisitions
and as working capital
for its development
activities.
Robert Kuok Buys Nusajaya Land
for $74 Million With Confidence
It is also proposing
a subscription of
shares in Eco World by
shareholders of Eco
World Development.
Johor Mentri Besar Datuk Mohamed Khaled Nordin visiting booth after
launching the Science, Infromation, Communication and Technology week
Johor is going wireless this year
starting with 100 hot spots within
Iskandar Malaysia to offer free
internet connections to users.
Menteri Besar Datuk Mohamed
Khaled Nordin said that the state
government was currently talking
with five local service providers to
install wireless infrastructure in
the hot spots.
He said Nusajaya had been
identified as the first area in
Iskandar Malaysia to have the
free WiFi installed at all state
government and commercial
buildings and public places.
“We are going to make the
announcement within the next
one month on the successful
service provider to undertake the
project,” Mohamed Khaled said on
Tuesday.
He said this to reporters at the
launch of the Johor Science,
Information, Communication
and Technology Week 2014
at Persada Johor International
Convention Centre.
Mohamed Khaled said focus
would be given to the high density
areas in the state in providing
the WiFi services to users
and gradually expand to least
populated areas.
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He declined to give the names of
five service providers which the
state government was currently
talking with except that one of
them was Telekom Malaysia Bhd.
“At the end of the day we want to
make sure that there will be good
and efficient internet penetration
in the urban and rural areas in
Johor,” said Mohamed Khaled.
Separately, he said that Telekom
Malaysia had allocated RM32
million to provide the high speed
broad band (HSBB) infrastructure
in Iskandar Malaysia and RM10
million for the Pengerang oil and
gas hub.
He said it was important to
provide seamless and improve
the HSSB connectivity in Iskandar
Malaysia and Pengerang due
to the high impact economic
activities taking place in the two
economic growth corridors.
“Apart from good infrastructure
layout such as electricity and
water, investors will also look at
the good internet connectivity
before decided to invest in certain
areas,” said Mohamed Khaled.
Kuala Lumpur, Johor and Penang
saw average residential property
prices increase by more than 30
percent last year, according to the
Property Market Report 2013 by
the Valuation and Property Services
Department (JPPH).
Specifically, average residential
property prices in Johor rose
39.92 percent to RM275,854 in
2013 from RM197,147 in 2012.
Kuala Lumpur posted an average
increase of 37.66 percent while
Penang recorded an increase of
31.45 percent.
Overall, the Malaysian property
market posted moderate growth
which saw values increase
marginally by 6.7 percent, on the
back of a 10.9 percent contraction
in volume.
In 2013, 381,130 transactions
worth RM152.37 billion were
recorded compared to 2012’s
427,520 transactions worth
RM142.84 billion.
Deputy Finance Minister Datuk
Ahmad Maslan, said, “The
residential sub-sector retained the
lion’s share in the property market,
contributing 64.6 percent share
in volume and 47.3 percent in
value. The year registered 246,225
residential property transactions
worth RM72.06 billion which
reflects a contraction of 9.7 percent
in transactions and increase of 6.3
percent in value against 2012.”
For this year, Ahmad Maslan
expects house prices to continue
to increase, albeit not drastically,
“while the number of transactions
may be stable.”
He noted that the implementation
of the Goods and Services Tax
(GST) in April next year may result
in a slight uptick in house prices.
“When GST is implemented next
year, we don’t see house prices
increasing too much because
the buying, selling and renting
of residential properties are not
taxed,” explained Ahmad Maslan.
Overall, the Malaysian property market posted
moderate growth which saw values increase
marginally by 6.7 percent, on the back of a
10.9 percent contraction in volume.
Chang said following
the completion of this
exercise, Eco World
will become a property
player for all sectors.
ECO World’s show gallery in Johor Bahru
“We will have affordable
homes, semi-detached
and terraced houses,
bungalows, high-rise
residences, townships,
commercial centres,
and business and
industrial parks,” he said
at a media briefing here,
yesterday.
Robert Kuok, chairman of Kerry Group Ltd., holds a trophy during the
2012 CCTV China Economic Person of The Year award
South East Asia’s richest man
Robert Kuok, with Malaysian
sovereign wealth fund
Khazanah Nasional, has bought
land in Johor’s Iskandar Malaysia
for a mixed development
project.
Development, to buy 5ha
of land in Puteri Harbour,
Nusajaya - the epicentre of
Iskandar Malaysia - from UEM
Land.
ECO World Development
Group Bhd will emerge
as among the country’s
top 20 deve