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RM95 million to buy land in Melaka. What’s next?

Unfortunately for many people including myself, we cannot travel to Melaka because interstate travel is still not allowed. A holiday there including eating, eating and eating the whole day would be a happy experience. Of course if it’s your first trip, there are lots of other things to do as well. Before COVID-19 arrived and after I moved to KL (nearly 8 years ago), I travel to Melaka at least 3 times every year. Come on, it’s so nearby. A weekend trip is just a leisure drive away.

Meanwhile when we refer to the number of overhang units which is so often being reported, Melaka is that one state where the overhang number is very small versus all other states. This means that there’s not enough action in the property market of Melaka? Not really. A land of 210.4 hectares were bought by a developer and this developer has intention to buy more land.

Article in nst.com.my. Melaka-based property developer Teladan Setia Group Bhd has acquired 210.4 hectares for RM95.1 million to develop affordable homes in Melaka. In a statement, it said, “The acquisition is in line with the group’s intention to expand its presence beyond the city centre of Melaka. Prior to this, Teladan Setia has purchased a 46.94 hectare parcel of land in Jasin.”

Teladan Setia is also in the process of completing the acquisition of another five parcels of land totalling 11.82 hectares located in Alor Gajah and central Melaka. It said, “With this acquisition, the company’s total landbank will grow to 299.02 hectares.”

“These three parcels of land are in proximity with one another and we aim to develop landed residential properties priced between RM200,000 to RM400,000.

“Based on our recent market studies, we believe that landed homes remain the property of choice among the local Melaka population for the foreseeable future.” Please do read the full article here: Article in nst.com.my.

Key theme will always be affordability

As per the developer, they will be developing landed residential properties priced between RM200,000 to RM400,000. This is a good sign because it showed that the developer is focused on buyers needing a home and the fact that they are going big also meant that they see the demand as being strong too. More affordable homes meant more Malaccans would have a home sweet home.

I do not own any property in Melaka, yet. Let’s see what happens in the future if I keep going there often. Haha. However, as someone from out of Melaka, my first choice will not be landed. I prefer a place where I have facilities too and if possible some view of the sea would be a plus. See you soon Melaka.

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Charles Tan The Founder The Writer Kopiandproperty
Charles Tan

Charles is Founder of kopiandproperty.com He writes from his investment experience for the the past 20 years in investments including property, stock, unit trust and more as well as readings and conversations with many property gurus in the industry. kopiandproperty.com is an independent property blog which is not affiliated to any media company, property developer or even real estate agencies.

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