Malaysian economy expanded by 6.4% in fourth quarter
of 2012. The quarterly growth was the highest in
2012 when compared to the 5.1%, 5.6% and 5.3% in
first, second and third quarters of 2012. For 2012,
expanded by 5.6% when compared to 2011.
Pinewood Iskandar Malaysia Studios, which is
expected to be completed in May 2012 as well as
other projects such as Pengerang Integrated
Petroleum Complex, Desaru beach resorts and others
will create spill over effects that will benefit the
Iskandar Malaysia developments in the long term.
income limit of individual borrowers for My First
Home Scheme (SRP) will be increased from RM3,000 to
RM5,000 per month effective January 2013. For joint
borrowers, the income limit has been increased up to
RM10,000 per month, subject to the individual
borrower's income not exceeding RM5,000 per month.
Nusajaya Lifestyle Sdn Bhd held a soft opening of
Phase 1 Of Medini Mall in the final quarter of 2012.
The mall is envisioned to be a lifestyle,
entertainment and recreational epicenter of Nusajaya,
one of the five key zones of Iskandar Malaysia.
TTDI Sdn Bhd is collaborating with Australia based
Lend Lease to develop 4.43 hectare site within the
RM15 billion KL Metropolis development. Both parties
had set the project scope for a mixed development
comprising regional retail center, office, hotel and
Corp Bhd plans to launch serviced residences on a
site along Jalan Ampang where historical Bok House
used to be located. The project, which is also known
as W Kuala Lumpur Hotel & Residences, encompasses a
55-storey block with the first few floors housing
the 150-room W Hotel.