“The Government recognises the benefits of PPP projects for the Malaysian public and will not take the extreme measure of cancelling all such projects carried out by direct negotiation of the previous administration.”
“I told them that if they want to build a new five-star property, they have to fulfil a condition I set, which is to build medium to low-cost housing for the people here.”
“We have exhausted the fund and we have applied to the Finance Ministry to replenish the fund as we need funding to support the many heritage sites in the country.”
“We want these projects to succeed, that’s why we chose George Town,” she said, having noted that George Town was known for its efficiency in such projects.
“They are building the highway first so people will already be using the highway and when they build the LRT, people will not use it.”
The land includes 10,500 acres of irrigated farmland, 3,900 acres of rangeland and about 140 acres in an area known as Horse Heaven Hills.
A pro-PTMP attendee asked Penang Forum whether a feasibility study was carried out on ART.
The 532-room assets were sold to Thailand-listed Strategic Hospitality Extendable Freehild and Leasehold Real Estate Investment Trust (SHREIT) at the equivalent RM451,128 per room, earning Royal Group a profit of RM65 million after deducting its initial investment and refurbishment costs.
“This is the only component of development costs that a developer can control,” said an industry observer.
Ahmad Asri urged property developers to take “active measures” to reduce prices.
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