News by Ahmad Naqib Idris

The two groups yesterday entered into a partnership via their respective subsidiaries — UEM Land Bhd and Leisure Farm Corp Sdn Bhd. Under the deal, they will form a joint venture (JV) company where they are equal partners.

The project also involves the construction of common facilities, drainage and retention pond, piling works, associated infrastructure and landscape works.

‘The Waves’ comprises serviced apartments, retail mall and hotel.

These new launches will be within its existing township developments of Bandar Darulaman in Jitra, Darulaman Perdana in Sungai Petani and Darulaman Utama in Kuala Ketil, which are all located in Kedah.

“For the genuine developers, house prices will not drop because they set the price where it will give them a reasonable return."

Mercury said the contract entailed the construction of four apartment towers involving 648 apartments at Pekan Tanjung Kling Sek 11, Daerah Melaka Tengah, Melaka.

Spanning over 1,386.05ha with an estimated investment of S$58.3 billion over the next 20 years, Forest City is expected to fuel the economy in the Iskandar region and neighbouring Singapore.

"The new trains will offer a quieter ride, dynamic station indicators, and handicap facilities. We also expect to improve waiting times, reducing headway to less than the current 2.8 minutes," group managing director Datuk Azmi Abdul Aziz said.

Prime Minister Datuk Seri Najib Razak is set to announce the revisions to Budget 2016 on Jan 28, as the government is expected to revise its base assumption for crude oil price to US$30 per barrel, from the initial US$48 per barrel assumption, when the budget was tabled in October last year.

For 2016, the company will be launching 15 projects with a total GDV of RM2.5 billion; these are spread out over the Klang Valley, Pahang and Batu Pahat, Johor.