'The addition of new retail space reduces the likelihood of a major recovery in rents, while the growing popularity of online shopping reduces demand for physical retail space.'
Over 1,500 high-end units are slated for completion in 2020, and to avoid the vacancy tax, developers have started offloading them.
'Our ties are strong and we want to work hard to bring it to greater heights,' said Saifuddin
Johor Local Government, Science and Technology Committee chairman Tan Hong Pin said 3,000 units of these homes will be built this year, during a speech at the Johor Real Estate Practitioners Dinner 2018.
The project had not been approved yet, said a DBKL spokesperson.
The Lombok earthquake which registered 6.4 on the Richter scale, resulted in 14 deaths and injuries to 162 people, including six Malaysians.
The floods had left some residents trapped in their houses.
A total of 6,284 units of modestly priced housing will be available.
Residents say that there were already issues finding parking in the area.
MRCBGK has agreed to cooperate fully with the authorities, to help allay public concerns.
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