2023

Significant changes to the Malaysia My Second Home (MM2H) program are set to be announced in mid-December, according to Tourism, Arts and Culture Minister Datuk Seri Tiong King Sing. These changes are expected to include major adjustments to the MM2H threshold, making it more appealing to potential applicants. The Malaysian government is aiming to ease the stringent conditions of the MM2H program to...

Malaysian property developer Ibraco Bhd, in collaboration with China Railway Group Ltd, has successfully secured a significant construction project valued at RM568.81 million. The project involves critical infrastructure works for the Kuching Urban Transportation System (KUTS), marking a significant step in enhancing the city's transportation capabilities. The joint venture comprises Ibraco, represented...

Matrix Concepts Holdings Bhd, a prominent property developer based in Seremban, has successfully secured a financing facility worth RM512 million from AMMB Holdings Bhd (AmBank Group). The funding will play a pivotal role in facilitating the development of a prime housing project spanning 1,382.2 acres within the Malaysia Vision Valley 2.0 (MVV 2.0) located in Sendayan, Negeri Sembilan. This ambitious...

According to the Immigration Department's latest statistics recorded from January 1 to November 15, 2023, Singaporeans have topped the list of tourist arrivals to Malaysia, with 12,645,364 tourists visiting the country. This represents the highest number among the 26 million tourist arrivals during the specified period. Tourism, Arts, and Culture Minister Datuk Seri Tiong King Sing expressed hope that...

Ipsos Malaysia is advocating for a revision of the housing expense-to-income rule, which currently sets the threshold at 30%, deeming a home unaffordable if households spend more than this percentage of their income on housing. According to Ipsos Malaysia, this rule is both "outdated and arbitrary" and does not align with the needs of Malaysian households. Recent Study Reveals 23.5% as More Accurate...

In the second quarter of 2023 (Q2 2023), Malaysia has seen a 5.3% decrease in the number of unsold houses, totaling 26,286 units valued at RM18.3 billion, according to data from the National Property Information Centre (Napic). This decline reflects ongoing efforts to manage the issue of unsold properties in the country. Addressing the Unsold Houses Issue: The Malaysian government has initiated...

With the official opening of the TRX mall attracting crowds eager to experience it first-hand, the battle among large shopping malls in the heart of Kuala Lumpur is heating up. KLCC Property Trust (KLCC, 5235SS, Main Board Real Estate Trust Stocks) and Pavilion Real Estate Investment Trust (PAVREIT, 5212, Main Board Real Estate Trust Stocks) now face increased competitive pressure. TRX mall, Suria KLCC,...

In an effort to transform Malaysia's towns and cities into liveable communities with improved quality of life, affordable housing, cleaner environments, and green transportation alternatives, the Ministry of Local Government Development (KPKT) is offering a RM200,000 grant to local authorities that achieve recognition through the Malaysia Urban Planning Awards (MUPA). This incentive aims to encourage and...

Malaysia is on the brink of an exciting new era with the opening of its first-ever Skyline Luge in Kuala Lumpur. Nestled in the beautiful Gamuda Gardens in Rawang, this thrilling attraction is set to open on December 9, 2023. It's a dream come true for thrill-seekers – now, the exhilarating Luge experience is just a short trip away! Skyline Luge Kuala Lumpur is a must-visit with its four distinct...

The implementation of the Penang undersea tunnel project is set to be considered by the state government after the finalization of the North Butterworth Container Terminal (NBCT) Expansion Plan in December 2023. This update comes from Zairil Khir Johari, the State Infrastructure and Transportation Committee chairman. According to Khir Johari, the Penang Port Commission (SPPP) has emphasized the importance...