Developers urged to incorporate seismic, earthquake-resistant designs in buildings, Malaysia property market to grow this year and more
18th July – 24th July
Industry insiders highlight the importance of including seismic and earthquake-resistant designs when planning high-rise buildings, amid the increasing frequency of seismic activity and earthquakes in Peninsular Malaysia over the last decade.
Meanwhile, Deputy Finance Minister II Steven Sim is optimistic that the Malaysian property market will grow this year, despite the weak economic growth forecast.
1. Developers urged to incorporate seismic, earthquake-resistant designs in buildings
Industry insiders highlight the importance of including seismic and earthquake-resistant designs when planning high-rise buildings, amid the increasing frequency of seismic activity and earthquakes in Peninsular Malaysia over the last decade.
They urged developers working at highland attractions such as Cameron Highlands, Bukit Tinggi and Genting Highlands to consider earthquake- and seismic-resistant designs for their new high-rise residences, reported the New Straits Times.
The insiders noted that while such designs may be costly, they could prevent potential natural disasters.
Notably, Malaysia has experienced earthquake shocks in the past, with regions like Perak, Melaka, Selangor and Johor witnessing vibrations caused by earthquakes. As such, new and old buildings should incorporate earthquake-resistant designs.
Tropicana Corporation Bhd has set an example when it incorporated earthquake-resistant architecture in its high-rise project in Genting Highlands.
TwinPines Serviced Suites complies with international Eurocode criteria for earthquake resistance on top of QLASSIC quality standards.
“The development as a whole has been designed for optimal safety, starting with a solid construction base and meticulous earthwork planning,” said Ixora Ang, Executive Director for Marketing, Sales, and Business Development at Tropicana.
2. Malaysia property market to grow this year
Despite the weaker economic growth forecasts, Deputy Finance Minister II Steven Sim is optimistic that the Malaysian property market will grow this year.
Its growth will be buoyed by the government’s accommodative policies, measures from the revised 2023 Budget as well as initiatives listed in the 12th Malaysia Plan.
Sim noted that the property market saw transaction volume increase 29.5% in 2022, while transaction value rose 23.6% from the previous year, reported The Malaysian Reserve.
However, PropertyGuru’s Malaysia Property Market Report for Q2 2023 showed a decline in Sale Demand index, with property inquiries falling 5.6% quarter-on-quarter. The Sale Supply Index also dropped 0.6%, indicating that property owners are taking a wait-and-see stance before investing.
Property experts see good demand for landed properties within the secondary market, but there is lack of supply particularly within the mature area.
They explained that unconnected market offerings and demand created a challenging environment for prospective buyers.
One significant factor driving Malaysia’s property market is the preference of buyers for new properties, which come with modern amenities and features, especially in prime locations.
With this, experts urged developers to consider current trends and consumers’ need when planning their projects.
3. Expanding affordable housing programme promotes home ownership
The government’s decision to expand the affordable housing programme in Kuala Lumpur provides more opportunities for home ownership, particularly among the younger generation.
Dr Shazmin Shareena Ab Azis, Senior Lecturer at Real Estate, Faculty of Built Environment and Surveying, Universiti Teknologi Malaysia, said homeownership is crucial for fostering stable neighbourhoods and creating a prosperous society, reported Bernama.
He attributed the low homeownership to high property values, including home prices in urban areas.
“Providing affordable housing is the solution for the B40, M40 groups and young people to own a home,” he said, noting that the government could also take advantage of green technology in implementing development projects.
Notably, the implementation of green technology in development projects, such as developing green roofs and creating gardens on buildings, not only help absorb water and reduce global warming but also enhance aesthetic value.
City dweller Nur Fitri Aini Ismail welcomed the government’s initiative to expand affordable housing, but underscored the importance of equipping such development with basic facilities while taking into account maintenance costs.
4. Tmn Saikat residents unhappy over projects near Ipoh limestone hills
Residents at Taman Saikat have expressed their opposition to the construction of tourism and commercial activities at the foot of limestone hills near their homes.
They noted that while the issues surrounding the construction of Qing Xin Ling Leisure and Cultural Village in 2015 have yet to be resolved, new access roads, a café and an eco-park are planned for the area, reported The Star.
Residents Association Chairman Surindar Singh said no engagement session was conducted by Ipoh City Council with residents to inform them of what is happening in their area since their last meeting on 11 January.
“As it is now, residents face daily traffic congestion with visitors to the cultural village parking haphazardly and blocking entrances,” he said, adding that their children could no longer play in front of their homes due to speeding vehicles.
Moreover, the area where the access road is being built as well as the area where the eco-park and café will be built is a green zone.
“The contractor is unable to provide a permit to show that they have permission to construct the access road, which is probably under river reserve land,” said Meor Razak Meor Abdul Rahman, Field Officer at Sahabat Alam Malaysia.
5. Developing waqf land peppered with challenges
The government is prioritising the development of waqf (endowment) land to help the B40 or lower-income groups as well as the hardcore poor and other vulnerable groups.
Senior Scholar KY Tan noted that while Malaysia has a significant amount of waqf land, less than 15% had been developed due to various issues, reported the New Straits Times.
“There are several issues with waqf land that prevent its development. The key contributing factors are those linked to ownership, legality, location, physical conditions, registration, illegal occupation, database, and financing,” said Tan.
Moreover, majority of those in urban areas are situated in less advantageous locations, with limited development potential.
In fact, some of the waqf land in Johor, Selangor, Terengganu, Perak and Melaka have been used as commercial spaces and squatters’ colonies.
“This is a serious issue in some areas, mainly because of a lack of oversight and enforcement,” said Tan.
