The Selangor state government is set to exempt property developers from development charges for affordable housing projects, effective January 2024, announced Datuk Borhan Aman Shah, the Selangor state housing and culture exco, at the Rehda Selangor Housing Convention 2024. This exemption applies to key affordable housing schemes like Rumah Idaman and Rumah Selangorku Harapan, aiming to accelerate the...

Budget 2025 Offers Tax Relief for First-Time Homebuyers While Budget 2025 may not be seen as a property-focused budget, property experts have praised the introduction of tax relief for housing loan interest payments, a move expected to incentivize first-time homeownership. Key Housing Tax Relief Measures: RM7,000 tax relief for housing loan interest payments on homes priced up to RM500,000....

Singapore Ranks Fourth Globally for Net Financial Assets Per Capita in 2024 Singapore continues to solidify its position as one of the world’s wealthiest nations, ranking fourth globally in terms of net financial assets per capita, according to the Allianz Global Wealth Report 2024. The report revealed that Singapore residents held an average of €171,930 (S$246,000 or RM800,000) in net financial...

UEM Sunrise Bhd’s (KL) Renewable Energy (RE) Industrial Park in Gerbang Nusajaya, Iskandar Puteri, Johor, is gaining significant interest from China-based companies keen to set up manufacturing facilities in Malaysia. Companies such as China Machinery Engineering Wuxi (CMEC Wuxi) Co Ltd, Wuxi Longmax Technology Co Ltd (Longmax), Gotion, Hopewind, and Huasun have expressed interest in becoming RE...

Penang High-End Property Prices Surge by 7% to 10% in 2024 Amid Rising Demand and Infrastructure Developments Penang’s high-end property market continues to experience significant growth in 2024, with prices rising between 7% to 10% compared to the previous year. This surge reflects strong demand among both local and foreign buyers, particularly in areas like Bayan Baru, Pulau Tikus, and Seri Tanjung...

Malaysia to Reap Indirect Gains from China’s Economic Stimulus Measures, Say Economists Malaysia is poised to gain indirect benefits from China’s recent economic stimulus measures, which include interest rate cuts and property market support initiatives. Economists suggest that these moves could drive demand for Malaysian goods and services, while increasing disposable income for Chinese consumers to...

EUPE Corp Bhd (KL) celebrated the topping-out ceremony for its Helix2 development in PJS 5, Petaling Jaya, on Friday. With 95% of the units sold, the affordable high-rise project is on track for completion by October 2025. Helix2, with a gross development value (GDV) of RM288 million, features 500 serviced apartments housed in a 33-storey tower. Unit sizes range from 572 to 1,065 sq ft, and selling prices...

After a seven-month renovation, Dataran Lang in Langkawi, home to the famed Brahminy Kite statue, is now open to visitors. The revitalized site offers a more vibrant and attractive experience for tourists, including newly upgraded fountain systems, improved lighting, and enhanced public amenities. According to Langkawi Development Authority CEO Datuk Haslina Abdul Hamid, the project began in February and...

34 MM2H Applications Approved by October 2024 Amid New Guidelines As of October 14, 2024, the Malaysia My Second Home (MM2H) programme has approved 34 applications out of 249 received, with 11 principal applicants and 23 dependents granted entry, according to Tourism, Arts and Culture Minister Datuk Seri Tiong King Sing. The MM2H programme continues to attract foreign interest, and the ministry received...

The National Planning Congress (NPC) 2024 is set to become a pivotal event, bringing together stakeholders and experts to explore innovative solutions for Malaysia's urban challenges. As cities continue to grow, issues such as traffic congestion, housing affordability, and climate risks persist, making it crucial to find sustainable approaches to urban planning. NPC 2024 will focus on bridging the gap...