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The industrial park, to be named Eco Business Park VII (EBP VII) is to be developed over nine years. It will feature industrial lots, ready-built factories, and commercial properties tailored to high-growth sectors, including those in the aerospace, electrical and electronics, logistics, and biotechnology industries.
"As we reevaluate our remaining land bank potential, this divestment and monetisation strategy sets the groundwork for substantial technological, economic and community advancements in Johor.”
The gas pipeline explosion in Putra Heights is expected to cause a temporary decline in property demand and prices, particularly in areas closest to the disaster site, said an expert.
Asian Pac Holdings will purchase the Section 14 shopping mall through its wholly owned unit, Primadana Utama Sdn Bhd.
“The principles of land valuation, compensation calculations, and the legal framework governing land acquisition must be reviewed to reflect current market trends,” said Prof Dr Ismail Omar in the forum.
President Datuk Ho Hon Sang said the optimism is driven by the robust performance reported in 2024, of which Malaysia had recorded the highest property transactions over the past decade, increasing by 18% to RM223.2bil as compared to RM196.8bil a year earlier.
PRIME Minister Datuk Seri Anwar Ibrahim said the compensation for owners under the proposed Urban Renewal Act (URA) will be according to future property value, not the current one. He also reiterated that the original owners affected will also get to live in the redeveloped property.