Luxury Condo Market To Remain Subdued, DBKL To Build 5,000 Council Homes, And More
1st February – 7th February
The Kuala Lumpur luxury condominium market is expected to remain subdued in 2022 as last year’s challenges were carried into this year. Meanwhile, Prime Minister Ismail Sabri Yaakob has unveiled various measures aimed at making Kuala Lumpur a poverty-free city.
1) Luxury condo market to remain subdued
Savills Malaysia Sdn Bhd expects the Kuala Lumpur luxury condominium market to remain subdued in 2022.
“The challenges faced by the luxury condominium market in 2021 will carry into this year. This is on top of the fact that there were no fiscal goodies announced at Budget 2022 in October last year,” Datuk Paul Khong, Group Managing Director at Savills Malaysia told The Star.
Siva Shanker, CEO of real estate agency at Rahim & Co, agrees, saying the segment was affected by the COVID-19 pandemic in 2021.
He shared that he does not see any major improvement for the segment this year. However, he expects the downward movement of prices to flatten out.
“We expect to only see real meaningful growth perhaps by mid 2023,” he said.
Related article: 7 Affordable Condominiums Below RM500,000
2) DBKL to build 5,000 council homes
In a bid to make Kuala Lumpur a poverty-free city, Prime Minister Ismail Sabri Yaakob has unveiled a slew of measures, which include building 5,000 council homes that would be offered at low rents.
DBKL will also provide bicycle paths, pedestrian walkways as well as upgrade obsolete hawker stalls to ensure the public leads a healthy life, reported Free Malaysia Today.
“DBKL will also repair lifts at housing estates including 306 at 31 public housing projects. This will be implemented within two years,” said the Prime Minister at a ceremony marking Kuala Lumpur’s 50th anniversary as a city.
To ensure the public’s safety, DBKL will also enhance its level of security within the city by further monitoring via CCTV cameras.
Related article: Flat, Apartment, Or Condo: What Are The Differences?
3) Tanjung Aru residents wants proof low-cost flats are unsafe
Tanjung Aru low-cost flats residents said they would not move out of their homes unless the Sabah Housing and Town Development Board (LPPB) show proof that their flats are structurally unsafe to live in.
Notably, LPPB has served the residents with eviction notice in May, informing them that they need to vacate the flats – known as Rumah Pangsa Tanjung Aru – by end-2021 due to structural safety concerns, reported Free Malaysia Today (FMT).
The residents, however, refused to leave their flats unless a dialogue between LPPB and the tenants is conducted and a copy of the structural safety inspection report on the flats is shown to them.
“LPPB has yet to provide the report on the alleged danger to the structural integrity of the flats. We need the proof. Please be professional in doing your job LPPB,” said Tanjung Aru Assemblyman Junz Wong as quoted by FMT.
4) Cross-border administrative cooperation needed to make KL a world-class city
To make Kuala Lumpur a world-class city, the Kuala Lumpur City Hall (DBKL) should draw up its future development plans in collaboration with other local authorities within the Klang Valley.
Universiti Teknologi Mara’s Architecture, Planning and Surveying Faculty dean Prof Dr Jamalunlaili Abdullah noted that cross-border administrative cooperation is crucial since “the current and future development is conurbation in nature”, reported Bernama.
He explained that cross-border administration cooperation involves various aspects such as environmental development like flood management and transportation.
“For example, if Kuala Lumpur has high population density, those who work in the federal capital will choose to live in suburban areas. Therefore, having an efficient public transport system is vital to enable the commuters to travel to Kuala Lumpur with ease,” he told Bernama.
5) A call to build more centralised living quarters on industrial estates
Bangi MP Ong Kian Ming has called for the construction of more centralised living quarters (CLQs) for workers on industrial land instead of in residential areas.
Aside from making it more convenient for workers travelling to work, building the CLQs on industrial land would be “less intrusive” for local residents who may be against the construction of such living quarters within residential areas, he said.
He noted that the CLQs can be built in states with large industrial estates and many migrant workers, reported Free Malaysia Today.
Ong shared that the state government of Selangor had recently embarked on the construction of the first CLQ for factory workers. To be located in Kampung Baru Balakong, the 15-storey building will feature 598 units and can house 3,600 workers.
6) More enjoyable travels for Labuan road users
Traveling from Jalan Pohon Batu to the town centre is now more enjoyable with the opening of the 5.1km coastal road project from Kerupang to Membedai.
Labuan Public Works Department Director Ir Suhaizad Sulaiman said the RM125 million coastal road project, which opened on 1 February, will not only improve the connectivity of Labuan but also ease traffic congestion from Jalan Pohon Batu to the town centre, reported Bernama.
“The bumper-to-bumper traffic of over 5km has frustrated drivers using the Jalan Pohon Batu and Jalan Tun Mustapha routes to the town centre,” he said, adding that he hoped the project’s completion would be “a great help to them”.
He noted that the project is expected to benefit at least 35% of the duty-free island’s road users.
7) Gunung Impian Development to unveil its first cluster development in September
In a bid to provide a comfortable space for multi-generational living, Gunung Impian Development Sdn Bhd plans to introduce its first cluster development at Taman Impian Emas in September.
In fact, developments such as a sports arena, mall and green spaces had already been earmarked, said Koh Moo Hing, General Manager of Gunung Impian Development.
Located in Skudai, the 12.14ha Taman Impian Emas development kicked off in 1998, reported The Star.
“We have already developed one-third of the total land size and aim to adjust our future developments to respond to the market,” said Koh as quoted by The Star. “We are looking at multi-purpose and multi-generational products, based on lifestyle shifts due to the pandemic, such as working from home.”
Related article: What Does Flexible Remote Working Mean For Your Home?
8) UDA Holdings to launch link house projects by mid-2022
With demand for landed homes in south Johor remaining good, Uda Holdings Bhd will launch double-storey terrace home projects within Bandar Uda Utama near Johor Baru by mid-2022.
Uda Holdings President and CEO Mohd Salem Kailany revealed that the company offers 225 units of such link homes, which are targeted at extended families and upgraders, reported The Star.
The 53 Pisonia Ville Package 2 units come with a built-up area of 2,343 sq ft and features five or six bedrooms, making them suitable for big families of up to three generations, he said.
With a built-up area of 1,300 sq ft, the 172 Areca Terrace units feature four bedrooms and three bathrooms as well as an extendable green space.
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