June, 2016

  1. Mitsui in big on Malaysia project to build high-tech metropolis


    June 27, 2016 by iskandarinsider


    KUALA LUMPUR – Japanese trading giant Mitsui & Co. is capitalizing on its business partnerships in Malaysia to expand its role in the country’s government-backed grand project to build a new multi-functional city.

    Iskandar Malaysia is a gargantuan urban development project to build a thriving, high-tech metropolis that can attract money and people from all over the world on a tract of land three times larger than neighboring Singapore.

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  2. Purchasers’ risk in progressive payment


    June 23, 2016 by iskandarinsider


    THE National House Buyers Association (HBA) has complained to the Minister and those under his charge about purchasers becoming victims when they lose their homes as a result of foreclosure proceedings taken against them by banks to recover loans taken by developers secured by purchasers’ houses bought from the same developers, because the said developers did not settle the loans taken by them.

    The crux of the problem is that the Housing Ministry-prescribed sale and purchase agreement (SPA) allows the developer to build the purchaser’s house with the instalments of the purchase price paid by the purchaser from the day the SPA is signed.

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  3. UEM Sunrise launches Melia Residences Phase 3


    June 13, 2016 by iskandarinsider


    JOHOR, UEM Sunrise Bhd officially launched Phase 3 of its Melia Residences yesterday, backed by the full take-up of Phase 1 and 2.

    According to the group’s chief operating officer of commercial Raymond Cheah, the group was surprised by the encouraging response.

    “The speed of sales of Melia Residences has been phenomenal with a total of 206 Phase 1 and Phase 2 units completely taken up with[in] the first two days of its launch, surpassing our original target of three to six months,” he said at a media preview yesterday.

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  4. Creative marketing by developers


    June 11, 2016 by iskandarinsider


    Bank Negara advises caution to all parties concerned

    SLOW sales in 2014 and 2015, and an even slower market since the start of this year have prompted developers to introduce various innovative marketing schemes to boost sales.

    Some of these include rent-and-purchase arrangements, the offering of “safety net loans” and even a re-focus on built-then-sell units to re-assure risk-averse buyers. The schemes include both unsold completed units and yet-to-be-built ones.

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  5. IRDA confident of achieving RM383bil investment target by 2025


    June 8, 2016 by iskandarinsider


    JOHOR BAHRU: Iskandar Regional Development Authority (IRDA) is confident of achieving the RM383bil investment target by 2025, despite facing challenges and unfavourable economic situation since its inception 10 years ago.

    Chief executive officer Datuk Ismail Ibrahim said while the journey for the country’s first economic growth corridor was not smooth sailing along the way, nevertheless it was able to overcome the choppy conditions.

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