News by EdgeProp.my

Since last month, Malaysian hotels have started to receive guests and forward bookings look promising, a recent survey by the Malaysian Association of Hotels (MAH) reveals.

Some of these hotels were long established, yet stood little chance against the ravages of the coronavirus, whose impact on the tourism sector has been particularly devastating.

DBE, which stands for Ding Brothers Enterprise, was founded by its former chairman Datuk Ding Chong Chow and his brother Ding Choon Yung in 1986. The Dings gradually exited DBE after the Doh family — who have a property development business and are well known among Sitiawan folk — took control of the company.

The return of the HOC was among the measures taken to boost the property sector under the Penjana Short-term Economic Recovery Plan announced by Prime Minister Tan Sri Muhyiddin Yassin yesterday.

“We would like to take this opportunity to express our gratitude to the Government for taking note of our proposals during our various engagements.”

CBRE|WTW managing director Foo Gee Jen: But the HOC should also be extended to the secondary market. On average, about 65% of transactions are done in the secondary market in a given year.

Associated Chinese Chambers of Commerce & Industry of Malaysia (ACCCIM) head of taxation committee Koong Lin Loong: To create greater vibrancy, we need more foreign buyers to come in as there are only limited local buyers in the market. This is what the newly announced ERP lacks

MIEA also urged the government to include secondary market properties in the removal of the 70% cap on the margin of financing for the third housing loan.

There will also be stamp duty exemptions

The new phase comprises 412 freehold units of 20 ft by 80 ft with built-up areas from 2,262 sq ft to 2,983 sq ft. The first 218 units will be open for preview and available for pre-launch sale tomorrow (June 6). Prices start from RM709,999 after rebates and before Bumiputra discount.