It was reported that Country View Bhd is disposing its lands in Kedah for a total of RM119.95 million, with a net gain of RM74.67 million from the disposal.
Country View said it also plans to use the funds to part finance the acquisition of some 163.92 acres of land in Pulai, Johor, from Bandar Nusajaya Development Sdn Bhd for RM310 million, which had been announced on 30th October 2017.
“At this juncture, the group intends to capitalise on its established reputation and presence in Iskandar Puteri and Johor Bahru. The group will continue to develop its existing ongoing project; Taman Nusa Sentral, which is located at Iskandar Puteri.
“The proposed land acquisition will allow the group to expand and enhance its property development activities in Iskandar Puteri which is expected to generate future income,” it said.
Expats: KL, JB and Penang Affordable
Property Guru had highlighted that Kuala Lumpur, Johor Bahru and George Town are among the world’s most affordable places for expatriates, according to the latest cost of living research conducted by ECA International.
“Asia is home to some of the world’s most expensive locations, as well as its cheapest. This level of variety is only matched in Africa, which is home to both the world’s most expensive location and the cheapest,” said ECA International’s Regional Director Lee Quane.
However, for Singapore, it has dropped to the 21st spot out of more than 260 cities or its lowest since 2014. The republic’s ranking has fallen five places from last year’s spot due to the strengthening of European currencies.