Residents Want Old Facilities Upgraded, Value of Construction Work Done Up 8.4% in 2023 and, More
14th February – 19th February
Residents of Seri Sabah public housing (PA) within Kuala Lumpur called for urgent upgrades to the ageing facilities following a recent fire that destroyed six units at Block 70.
Meanwhile, Malaysia saw the value of construction work done increase 8.4% to RM132.2 billion in 2023, continuing the positive momentum in 2022, when work done value grew 8.8%.
1. Residents want old facilities upgraded
Residents of Seri Sabah public housing (PA) within Kuala Lumpur called for urgent upgrades to the ageing facilities following a recent fire that destroyed six units at Block 70.
Residents raised concerns over outdated wiring, haphazard parking situation and inadequate fire safety equipment, reported The Star.
Hassan Yeop Yshoib, who had lived at the Seri Sabah PA since 1985, pointed that there is a need to replace infrastructure such as wiring, lifts and water pipes to prevent future incidents.
Another resident, Mohd Hazim, underscored the importance of better access for firefighters as well as the proper maintenance of fire safety equipment.
“It took a bit of time for the firefighters to come into the area as the access roads were partially blocked by vehicles,” he said.
Financial aid and counselling services were provided to displaced families.
Initial forensic investigations showed that the fire may have been caused by an electrical wiring distribution board at level 17.
Zainal Abidin Abdul Wahab Chairman of the Perumahan Awam (PA) Seri Sabah 3B Residents Association, hoped the incident would bring positive changes among the residents and authorities.
2. Value of construction work done up 8.4% in 2023
Malaysia saw the value of construction work done increase 8.4% to RM132.2 billion in 2023, continuing the positive momentum in 2022, when work done value grew 8.8%.
On a quarterly basis, value of construction work done rose 6.8% to RM34.1 billion in Q4 2023 – marking the seventh consecutive quarterly increase, reported The Sun.
“The growth in this quarter was reinforced by the stronger expansion in the civil engineering sub-sector, which surged by 18% (Q3 2023: 17.1%) while residential buildings and special trade activities expanded at a slower pace of 2.3% (Q3 2023: 7.9%) and 0.3% (Q3 2023: 16.2%) respectively,” said Chief Statistician Malaysia Datuk Seri Dr Mohd Uzir Mahidin.
The non-residential subsector, on the other hand, registered a 1.9% decline.
On the construction sector’s performance by project owner, Mohd Uzir revealed that the private sector is still the main contributor, accounting for 59.5% (RM20.3 billion) of the total value of work done. The public sector made up the remaining 40.5% at RM13.8 billion.
Of the work done value for Q4 2023, Selangor accounted for 25.1% or RM8.6 billion, followed by Federal Territories at 11.8% or RM4 billion.
Sarawak and Johor also registered a work done value of RM4 billion each.
3. 50 public recreational parks to be built each year
The Housing and Local Government Ministry (KPKT) targets to construct at least 50 public recreational parks per year across the country.
About RM500,000 will be allocated for each park, said KPKT Minister Nga Kor Ming.
He noted that having more recreational parks will create a safer and more comfortable green environment for residents in nearby residential areas, reported Bernama.
“These public recreational areas are a form of therapy for residents who are currently facing various mental stress problems. When there are parks for them to rest and relax, then it will benefit them,” said Nga.
He revealed that the ministry has set aside RM10 million for the development of 22 public recreational parks within Perak.
He added that construction works for such parks are expected to be completed this year.
4. Property rentals in Klang Valley rose by up to 20% this year
The Klang Valley saw rentals for properties increase 10% to 20% this year, a significant rebound from the rental declines seen during the Movement Control Order (MCO) due to the COVID-19 pandemic.
In fact, rental rates are now higher than the pre-COVID period, said property agent Jonathan Kiang Kai Ming.
Areas that are registering rapid increases in rentals include Month Kiara, Bangsar, Bangsar South, KLCC and Damansara Heights, reported the New Straits Times.
Nurrul Nadia Syidha Abd Raoof, a property negotiator, attributed the hike in rentals to the recovering economy and the need for property owners to offset higher loan instalments due to the increased overnight policy rate (OPR).
She believes the rental market may see further increases this year, albeit it will not be too significant and sudden.
5. Curbing fraudulent agents not an easy task
The Malaysian Institute of Estate Agents (MIEA) warned members of the public of potential fraud when dealing with realty agents, admitting that existing regulations may not be enough to protect them.
MIEA Group President Tan Kian Aun pointed to a recent case in which an accredited property agent, Thevan Ragavan of Thevan Realty, attempted to dupe a client using his credentials.
Although complaints about cheating property agents are nothing unusual, he noted that cases as severe and elaborate as Thevandran are rare, reported Malay Mail.
The case involved a legitimate agent misusing his position to deceive a client with a fraudulent contract, highlighting the importance of thorough vetting of documents by clients.
While Thevandran is not a member of MIEA, he is accredited by the Board of Valuers, Appraisers, Estate Agents & Property Managers (LPPEH).
Both the LPPEH and MIEA can take disciplinary actions against members who are found guilty of fraud.
Despite occasional misconduct by agents, Tan noted that cases involving attempts to defraud clients are still rare.
“The LPPEH deals with about 30 complaints a month but it’s mostly issues like agents engaging in false advertising or misrepresenting facts about properties. The point is the LPPEH still acts on all the complaints,” said Tan.
6. Taking a closer look at free legal fees
With the stiff competition in the property development industry, developers often dangle freebies to attract customers, which include air conditioning, club membership, a kitchen cabinet, an automated gate and legal fees.
However, the true nature of free legal fees had to be examined closely, said Datuk Chang Kim Loong, Honorary Secretary-General of the National House Buyers Association (HBA).
He noted that the free legal fees suggest that buyers use the law firm on the developer’s panel to handle legal matters, reported the New Straits Times.
“From a legal point of view, the solicitor acting in such a manner would actually be acting for the developer. The solicitor is therefore the developer’s solicitor, and being the developer’s solicitor, the developer would have to pay the solicitor’s fees,” said Robert Tan, one of the legal advisors of HBA.
This means that the free legal fees are more of a myth than fact as the buyer has no lawyer looking out for their rights and interests under the contract.
