it suddenly struck me about the PNB trying to acquire SP setia in the Johor context. UEM is the master developer for nusajaya and is a subsidiary of Khazanah, a governmental entity. But Setia has a big foothold in the land consisting of the Bukit indah township including the commercial lots and condos + setia business park and ecogardens. It coming under PNB which is another arm of the government which means it's taking up the lion's share of this golden plot. With a 'monopoly' i hope that price fixing does not occur otherwise whatever affordability will quickly erode away hmmm....
haha that was what i was saying. And prior to this and the acquisition of Sunrise Berhad, there were many similar takeovers. Sime Darby has just recently acquired a significant stake in E&O Group, a Penang based giant (probably the biggest Penang developer), only about a month ago. The government funds also own part of BRDB, UM land, UDA land, Pelangi Berhad, Gamuda, Johor Land, and dozens many others. Setia alone has at least 4 townships underdevelopment in Johor.
They can sure use public fund to their advantage. Acquire cheap swamp land in close tenders, use public fund to build highways to these once deserted cheap plantations and build a new city.
Now UEM's Puteri Habour psf prices are close to KL city centre prices, same level as those condos next to world renowned Petronas Twin Towers. Hope it's sustainable, so we can push the prices to new heights, good for everyone.
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