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Tender soon for RM2b of Iskandar work

Posted on 1 Oct 2009 | Comments Off

THE main developer of Iskandar Malaysia, one of the largest integrated developments in the country, expects to tender out RM2 billion (S$815 billion) worth of development work over the next 12 months, president and chief executive officer of Iskandar Investment Arlida Ariff said yesterday.

Speaking to the media on the sidelines of the Ninth Forbes Global Chief Executive Conference yesterday, Ms Arlida said that the tenders would comprise RM1 billion worth of infrastructure projects under the Ninth Malaysia Plan and another RM1 billion worth of other infrastructure and construction projects. ‘These infrastructure and construction projects will likely take 6-24 months to be completed,’ she told reporters.

The statements illustrate the federal government’s continued commitment to a project dreamed up by former premier Abdullah Ahmad Badawi and intended to kick-start the economy of southern Peninsular Malaysia.

In terms of scale, it is certainly one of the country’s mega-projects with a total investment of RM398 billion, with RM46 billion coming in the first five years and the remainder over the next 15. Continue reading →

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Posted in Overseas Property

Tagged Iskandar Malaysia, Malaysia Property

More local than foreign interest in M’sian property

Posted on 1 Oct 2009 | Comments Off

Domestic interest in Malaysian property is now higher compared to that from overseas in contrast to a year ago, an analysis by property website thinkproperty.my showed.

It had analysed its visitor traffic data over the last three months and compared it with the status last year.

The data is pertinent because in 2008, 82.7 per cent of visitors were from Malaysia, while in 2009, that proportion rose to 85.2 per cent.

Over 80 per cent of the visitors were interested in buying or renting property in Malaysia, thinkproperty.my said in a statement yesterday.

While there was increased interest from Malaysian property buyers, it was less among those from countries such as Singapore, the United Kingdom, India, Australia, Japan, the United Arab Emirates (UAE) and Pakistan, it said.

Asim Qureshi, the chief executive officer of Think Media Sdn Bhd, the company that owns thinkproperty.my, commented that the data provided mixed signals. ‘On one hand, it indicates the confidence of Malaysians in investing in property, has increased in contrast to those from overseas.

‘This is to be expected because Malaysia’s property market has been stable.The Malaysian experience of seeing property as an investment has also been more positive compared to those of most other countries, he added. Continue reading →