Malaysia facing a towering problem
There is anxiety over a building glut in Kuala Lumpur and Iskandar
A SINGLE constant racket sounds across Peninsular Malaysia from the pile-drivers and jackhammers being wielded by workers who are building townships, apartments, malls, and ever-larger towers from Penang to Johor Bahru.
A building glut is becoming a serious concern.
Property tycoon Chua Ma Yu, who made his money from banking in the 1990s and then moved on to property, said: "I've never seen such excessive building in the Klang Valley and Johor. It's never been like this before. There is going to be a substantial surplus."
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Australia’s housing rent hits record high in headache for RBA
Airbnb promises to combat sex work in rentals during Paris Olympics
Hong Kong property deals hit three-year high in April
More homes planned in Media Circle to support housing demand
Qatari Sheikh sells London mansion to fellow royal for £39 million
Toronto home sales fall for third month in April; prices rise