developer

Gamuda IBS replicates its successful RSKU projects constructed by Digital IBS – Idaman Residensi

By Gunaprasath Bupalan – Emjay Communications / Property360Digest / MalaysiaGlobalBusinessForum / NewsHubAsia SELANGOR CYBER VALLEY, 4 March 2019 – For the first time ever, Yang Amat Berhormat Tuan Amirudin Shari, Dato’ Menteri Besar Selangor officiated a digital Industrialised Building System (IBS) project under the Rumah Selangorku initiative at the Idaman Residensi apartment at Seksyen 6, Selangor Cyber Valley on 2 March. At the event, Perbadanan Kemajuan Negeri Selangor (PKNS) Corporate Communications Manager Ishak Bin Hashim said that their commitment to develop Idaman Residensi was in line with the Ministry of Housing and Local Government’s goal to build one million affordable homes over the course of the coming 10 years. PKNS Property,  a subsidiary of PKNS seems to be confide...Read More

A layperson’s guide to all things STRATA

Gunaprasath Bupalan – www.property360digest.com / www.malaysiaglobalbusinessforum.com / www.newshubasia.com Many of you living in apartments, condominiums, town houses and SOHO (small office home office) would probably be familiar with the term ‘strata’. We read and hear of terms such as ‘strata title’ and ‘strata properties’. The word ‘strata’ is actually the plural word for ‘stratum’, which according to most dictionaries such as the Cambridge Dictionary can mean ‘one of the parts or layers into which something is separated’. In Malaysia, ‘strata’ generally refers to individual units of your homes within multiple levels of floors of your high or low-rise properties, which are constructed upwards i.e. vertically. Strata properties can also be within horizontal layers within gated and...Read More

Exclusive – Datuk Chang Kim Loong gets awarded

The National House Buyers Association Gunaprasath Bupalan – www.property360digest / www.malaysiaglobalbusinessforum.com / www.newshubasia.com In conjunction with the 80th birthday of the TYT Tun Dato Seri Utama (Dr) Haji Abdul Rahman b Hj Abbas, the Governor of Penang, the honorary secretary-general of the National House Buyers Association (HBA), Chang Kim Loong AMN, was conferred the Award of Darjah Setia Pangkuan Negeri (D.S.P.N.) (The Order of Chivalry) for extraordinary and meritorious service rendered to the State and Country. The Award was officially bestowed to him on Wednesday, 18 July 2018 at Wisma Sri Pinang, Penang Island and the honorific carries the title of ‘Datuk’. We managed to interview Datuk Chang Kim Loong DSPN, AMN with some pertinent questions that relates to the...Read More

RPGT won’t hurt genuine buyers

Banning DIBS is the right move FOR many years, the National House Buyers Association (HBA) has been urging the Government to take measures to stem the steep rise in property prices to avoid a “homeless generation” as current property prices are far beyond the reach of many low and middle-income families in urban and suburban areas. This is a ticking time bomb that will result in many social problems if left unchecked. Real Property Gains Tax (RPGT) The announcement of the revised rate of tax on gains made in the disposal of properties, namely, the Real Property Gains Tax (RPGT), formerly known as the Anti Speculation Act, under Budget 2014 is far more superior to what had been proposed under Budget 2013 (See table above) This is because, typically, if the property is purchased directly fro...Read More

Rectifying a leak in strata living

IF you live in a high-rise building and have an inter-floor water leakage issue, you can rest assured that you are not alone. Inter-floor leakages are, without a doubt, one of the biggest problems faced by many dwellers of high-rise buildings. Building technology has progressed over the years and we can build high-rise buildings that can withstand earthquakes with seismic engineering, be fire-resistant with comprehensive fire prevention measures and green buildings with energy and water-efficient measures. Sadly, however, we do not have any provisions in building codes to look into an issue that bothers many building owners and occupants – a water leakage. Following my article that was published in the StarBizWeek Buyers Beware column on Aug 22, the National House Buyers Association (HBA) ...Read More

Purchasers’ risk in progressive payment

THE National House Buyers Association (HBA) has complained to the Minister and those under his charge about purchasers becoming victims when they lose their homes as a result of foreclosure proceedings taken against them by banks to recover loans taken by developers secured by purchasers’ houses bought from the same developers, because the said developers did not settle the loans taken by them. The crux of the problem is that the Housing Ministry-prescribed sale and purchase agreement (SPA) allows the developer to build the purchaser’s house with the instalments of the purchase price paid by the purchaser from the day the SPA is signed. On top of this, and even more seriously, the developer is allowed to borrow from the developer’s banks on the security of the purchaser’s property. The pur...Read More

Pre-requisite condition for licensing of a housing developer

It is noteworthy that the Housing and Local Government is providing further protection to house buyers against the antics of irresponsible developers. The recent amendments to the Housing Development Act comes to mind. One of the most pertinent clause that was amended is Section 6(1)(b) of the Housing Development (Control & Licensing) Act, 1966. The matter refers to the amendment to the requisite deposit, which is refundable, from the current RM200,000 to 3% of the construction cost. Small developers who build small number of houses in the smaller towns and where total construction cost is RM2mil or less, the RM200,000 that they are currently forking out actually represents over 10%. Therefore, for them the new 3% is actually a vast reduction! To a big project developer whose construct...Read More

PR1MA now chasing profit, not helping first-time owners, says house buyers’ group

(April 20): PR1MA Corporation Malaysia (PR1MA) has strayed from its objective of building affordable homes in urban localities and instead has become profit-oriented, going into joint ventures with private developers, the National House Buyers Association (HBA) said. Its secretary-general, Chang Kim Loong, said the corporation under the Prime Minister’s Office has relaxed many of its housing requirements and allowed private developers to come in as joint venture partners. “We know these private developers are profit-oriented and they are not there to do charity. Therefore, why should PR1MA share their cake with them?” Chang said it has increased the ceiling price of a house from RM350,000 to RM450,000 last year and allowed second-time buyers to purchase PR1MA units. “The ...Read More

Malaysia’s errant developers still not afraid

KUALA LUMPUR, Nov 17 — No amount of new laws against offences committed by property developers will be effective without strict enforcement, said the House Buyers Association (HBA) today. This comes as the Housing and Local Government Ministry moved to propose amendments to the Housing Development Act 1966 to impose stiffer penalties against developers of abandoned housing projects. HBA secretary-general Chang Kim Loong said tougher enforcement of laws was needed to deal with errant developers without which the new laws would remain “ornamental pieces”. “Wayward developers well know that their chances of getting away with their wayward deeds are extremely good,” he said in a statement. He called on the authorities to act against developers “without fear or favour”. He also said that while ...Read More

Malaysian housing developers ignoring freebie guidelines

SOME seven months after more cooling measures were introduced, home prices continue to inch up as developers prefer to offer rebates than price their products lower. Many appear to be not abiding by guidelines on “freebies”. Some banks are also still basing their financing on the sales-and-purchase agreement (SPA) price rather than net selling price, a survey by the national House Buyers Association (HBA) has found. On a more positive note, except for one small developer, the projects surveyed by HBA volunteers did not offer the easy financing developer interest bearing scheme (Dibs), which the government had banned from this year. Brochures and other materials gathered by volunteers at various property fairs, however, indicate that many developers – even the bigger ones ...Read More

Full-disclosure by developers

THE National House Buyers Association seems to have finally succeeded in persuading the Government to make developers provide purchasers with a full set of detailed approved documents of the property. In fact, this has all along been a legal requirement. As far as landed properties are concerned, the approved layout plan and the approved building plan are to be included in the sale and purchase agreement (SPA) as the first schedule and second schedule respectively. With respect to the strata titles, there are the site plan, layout plan, floor plan of the parcel, storey plan of the building, accessory plan and common facilities plan, all approved, which comprised the first and second schedules. The Urban Wellbeing, Housing and Local Government Ministry has now agreed with HBA that the detai...Read More

Pre-requisite condition for licensing of a housing developer

It is noteworthy that the Housing and Local Government is providing further protection to house buyers against the antics of irresponsible developers. The recent amendments to the Housing Development Act comes to mind. One of the most pertinent clause that was amended is Section 6(1)(b) of the Housing Development (Control & Licensing) Act, 1966. The matter refers to the amendment to the requisite deposit, which is refundable, from the current RM200,000 to 3% of the construction cost. Small developers who build small number of houses in the smaller towns and where total construction cost is RM2mil or less, the RM200,000 that they are currently forking out actually represents over 10%. Therefore, for them the new 3% is actually a vast reduction! To a big project developer whose construct...Read More

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