Latest news with #ASEANRealEstateConference
Barnama
23-07-2025
- Business
- Barnama
PM Anwar Delivers On Fuel Price Promise, Proves Govt Keeps Its Word
KUALA LUMPUR, July 23 (Bernama) -- Prime Minister Datuk Seri Anwar Ibrahim's announcement of initiatives to ease the people's cost of living proves that the MADANI government is fulfilling its promises, says Housing and Local Government (KPKT) Minister Nga Kor Ming. He said the reduction of RON95 fuel price to RM1.99 per litre made it one of the lowest in the world. 'This demonstrates his concern in addressing cost-of-living issues despite financial constraints. On behalf of 22,000 KPKT families, I would like to thank the Prime Minister for the good news. Anwar said if he became Prime Minister, fuel prices would go down, and now, they will really go down. 'Even with the current financial limitations, we've managed to reduce fuel price, maintain toll rates, provide SARA (Sumbangan Asas Rahmah), and give various incentives,' he said at a press conference after officiating the ASEAN Real Estate Conference (AREC) 2025 and the International Architecture, Interior Design and Building Exhibition (ARCHIDEX) 2025, here today. Nga said the one-off RM100 aid under SARA for all Malaysians aged 18 and above also reflected the government's concern in helping not only the B40 group but also the M40 group, which were often excluded from such aid. He said the RM2 billion allocation, benefitting 22 million Malaysians, was expected to have a multiplier effect on the economy, while the postponement of toll rate hikes served as an anti-inflationary measure. Nga emphasised that the MADANI government would continue its nation-building efforts and urged all Malaysians to unite in helping the country rise again and gain respect on the global stage. 'Sometimes in the government, we are required to make some unpopular, extremely difficult decisions as leaders who care about the next generation. 'I expect more good news in Budget 2026, which is scheduled to be tabled in October, so stay tuned,' he said.
Barnama
23-07-2025
- Business
- Barnama
AREC, ARCHIDEX Position Malaysia At Forefront Of ASEAN Real Estate
KUALA LUMPUR, July 23 (Bernama) -- The integration of the ASEAN Real Estate Conference (AREC) and the Architecture, Interior Design and Building Exhibition (ARCHIDEX) 2025 positions Malaysia as a regional leader in real estate and urban development within ASEAN. Deputy Prime Minister Datuk Seri Fadillah Yusof said the events — held simultaneously at the Kuala Lumpur Convention Centre (KLCC) and Malaysia International Trade and Exhibition Centre (MITEC) — place Malaysia at the heart of regional collaboration, while showcasing ASEAN's urban development priorities to the world. He said AREC drives high-level policy dialogue and strategic insights from housing ministers, city leaders and developers, while ARCHIDEX complements it as Asia's leading exhibition, showcasing cutting-edge products, materials and solutions for architecture and the built environment. 'ARCHIDEX attracts over 56,000 visitors from over 110 countries, providing AREC with an influential international platform to elevate ASEAN's real estate and housing agenda to a global audience. 'Ultimately, our goal is to support the development and publication of practical, actionable and impactful strategies that reflect the unique social, economic and environmental context of ASEAN's housing landscape,' he said in his opening speech here today. Fadillah, who is also the Minister of Energy Transition and Water Transformation, urged industry players and stakeholders to seize the opportunity during the four-day event to showcase new and emerging real estate innovations, and to foster collaboration among industry players. He said both events serve as a collaborative platform to address challenges in the housing and real estate industry, with the aim of building a resilient, inclusive and forward-looking sector. 'We believe in innovation, not as a luxury, but as a necessity for resilience and progress. From advancing green buildings and climate-adaptive design to deploying digital land systems and prop-tech (property technology) solutions, innovation must be the engine that powers our housing policies and urban strategies. 'It is how we make our cities smarter, our developments more efficient and our communities more liveable. I therefore call upon all ASEAN member states, our industry partners and international organisations to keep this momentum alive through working groups, joint research, investment facilitation and annual progress reviews,' he said.
The Sun
23-07-2025
- Business
- The Sun
ASEAN must lead real estate reform amid global challenges says Nga
KUALA LUMPUR: ASEAN must spearhead reforms in the real estate sector to navigate global economic volatility, rapid urbanisation, and structural changes, said Housing and Local Government Minister Nga Kor Ming. Speaking at the ASEAN Real Estate Conference (AREC) 2025, he described the region as facing a 'perfect storm' of challenges, including supply chain disruptions and fluctuating property demand. 'We stand at a pivotal moment where real estate is no longer just about buildings, but about building futures—where every citizen finds not just shelter, but dignity and opportunity,' Nga said. Citing UN ESCAP data, he noted that ASEAN's urban population is expected to grow by 90 million by 2030, requiring 10 to 12 million new housing units annually. However, market instability has impacted property sales, with luxury condominium prices in Ho Chi Minh City dropping by eight per cent due to oversupply, while industrial real estate surged by 22 per cent. Nga highlighted material price volatility as another challenge, with steel prices fluctuating by up to 30 per cent and the Malaysian ringgit weakening to RM4.80 against the US dollar before recovering. 'These uncertainties complicate supply chain planning by altering import and export costs,' he said. Beyond immediate issues, Nga outlined three irreversible shifts affecting the sector: sustainability demands, urbanisation pressures, and geopolitical capital repricing. 'Green features are no longer premium options but minimum requirements,' he said, noting that sustainable materials now add up to 15 per cent to construction costs. To future-proof the industry, Nga proposed an ASEAN housing model based on data-driven planning, public-private-people partnerships, and tailored solutions for member states. He cited Malaysia's Rent-to-Own (RTO) scheme as a successful example, aiming to boost homeownership from 77 per cent to 80 per cent by 2030. Nga also suggested forming a Regional Housing Policy Lab and an ASEAN Urban Agenda Progress Dashboard to monitor affordable housing and carbon reduction goals. As Malaysia chairs the UN-Habitat Assembly, he stressed aligning ASEAN strategies with the New Urban Agenda for inclusive and sustainable development. 'Housing is not about brick and mortar. It is about dignity, stability, and a shared future where no ASEAN citizen is left behind,' he concluded. – Bernama
Barnama
23-07-2025
- Business
- Barnama
ASEAN Must Lead Real Estate Sector Reform Amid Global Challenges
GENERAL KUALA LUMPUR, July 23 (Bernama) -- ASEAN must take the lead in transforming its real estate sector amid rising geoeconomic volatility, irreversible structural shifts and rapid urbanisation, said Housing and Local Government Minister Nga Kor Ming. Delivering his keynote address at the ASEAN Real Estate Conference (AREC) 2025 here today, Nga warned that the region is facing a 'perfect storm' of challenges, including supply chain disruptions, currency fluctuations and surging demand for urban housing. 'We stand at a pivotal moment where real estate is no longer just about buildings, but about building futures — where every citizen, from Kuala Lumpur to rural Cambodia, finds not just shelter, but dignity and opportunity,' he said. Citing data from the United Nations Economic and Social Commission for Asia and the Pacific (UN ESCAP), he said ASEAN's urban population is projected to increase by 90 million by 2030, necessitating the construction of 10 to 12 million new housing units annually. At the same time, he said global uncertainties have dampened property sales, with luxury condominium prices in Ho Chi Minh City falling by eight per cent due to oversupply, while industrial real estate surged by 22 per cent, driven by shifts in regional manufacturing. Nga said the construction sector is also grappling with material price volatility, citing steel prices which saw fluctuations of up to 30 per cent, while the Malaysian ringgit fell to RM4.80 against the US dollar in April 2024, before recovering to RM4.20. 'These uncertainties complicate supply chain planning by altering the price of both imports and exports,' he noted. Beyond short-term shocks, Nga outlined what he described as 'three irreversible shifts' impacting the region's real estate sector — the sustainability imperative, urbanisation paradox and geopolitical repricing of global capital. 'Green features were once premium options, they are now minimum requirements from both regulators and consumers,' he said, adding that sustainable building materials now add up to 15 per cent to overall construction costs.
The Sun
29-05-2025
- Business
- The Sun
Malaysia intensifies diplomatic push for UN-Habitat presidency
KUALA LUMPUR: Malaysia is intensifying its diplomatic efforts to strengthen international support ahead of tomorrow's official announcement of the next President of the UN-Habitat General Assembly in Nairobi, Kenya. The Housing and Local Government Ministry (KPKT), in a statement, highlighted Malaysia's crucial position in its bid to lead global efforts on sustainable urbanisation for the 2026–2029 term. The Malaysian delegation in Nairobi, led by Housing and Local Government Minister Nga Kor Ming, has stepped up high-level diplomatic engagements, including productive bilateral meetings with key nations such as China, the United Arab Emirates (UAE), Mexico, Azerbaijan, and Iran, all aimed at bolstering support for Malaysia's candidacy during the ongoing UN-Habitat Assembly. The delegation also includes KPKT secretary-general Datuk Wira M Noor and High Commissioner of Malaysia to Kenya Ruzaimi Mohamad. During discussions with the Chinese delegation, led by its Vice Minister of Housing and Urban-Rural Development, Jiangou Dong, both sides reviewed upcoming joint events, including the ASEAN Real Estate Conference (AREC) in Kuala Lumpur from July 23 to 26. Meanwhile, the meeting with the director-general of the Sheikh Zayed Housing Programme in the UAE, Mohammed Ibrahim Al Mansoori, focused on aligning shared priorities for the co-presidency period and executive board membership for the 2025-2029 term. Nga was quoted in the statement as saying that both parties agreed to uphold collaborative principles within UN-Habitat's mandate while ensuring projects remained mutually beneficial and cost-neutral. The minister reiterated Malaysia's full support for next year's Quito +10 High-Level Meeting on implementing the New Urban Agenda during discussions with UN-Habitat executive director Anaclaudia Rossbach. This reaffirmed earlier exchanges at the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) in April. 'We reaffirmed our commitment to continue supporting UN-Habitat's work in Malaysia, including the implementation of the New Urban Agenda, Global Public Space Guidelines and extended an invitation to Her Excellency to attend the ASEAN Mayors Forum in Kuala Lumpur and the Asia Pacific Ministerial Conference on Housing and Urban Development in Penang,' Nga added.
