News by BERNAMA

The state government has devised several strategies to address the rising cost of living, particularly regarding the anticipated increase in property values in Johor Bahru due to the implementation of the Johor-Singapore Special Economic Zone (JS-SEZ).

The Penang island and Seberang Perai local plans, which will guide future development on the island and in Seberang Perai until 2030, will be gazetted next year.

KIP Real Estate Investment Trust (KIP REIT) has secured shareholders’ approval to acquire the DPulze Shopping Centre in Cyberjaya for RM320 million.

The government takes into careful consideration every application for infrastructure development funding in budget planning and policy implementation, said Deputy Finance Minister Lim Hui Ying.

The project is an extension of the Senibong Cove masterplan and expansion of landbank, to provide more high-quality designed homes in curated communities.

As of June 30 this year, a total of 346,417 affordable housing units have been completed, accounting for 69.3% of the target of 500,000 units under the 12th Malaysia Plan (12 MP).

The Ministry of Housing and Local Government (KPKT) is committed to focusing on efforts to help young people own homes through the Madani Deposit scheme.

He said the momentum of house construction under the initiative is going well, with 40,000 units currently in the process of awaiting related approval.

Johor is expected to see sustained property demand from foreign buyers, especially Singaporeans, driven by key developments and growing investor interest, according to Knight Frank Malaysia.

The government believes that the Amazon Web Services (AWS) Asia Pacific (Malaysia) Region’s projected RM57.3 billion contribution to Malaysia's gross domestic product (GDP) could be fast-tracked to 2032 from 2038, given its current pace of development, said Prime Minister Datuk Seri Anwar Ibrahim.