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Property development in Melaka? RM118 million for land parcels.

Property development in Melaka? RM118 million for land parcels.

As soon as we are allowed to travel and the number of cases become manageable, I will be back to my hometown, Ipoh. After I have visited Ipoh a few times, then I intend to drop by Melaka again too. I do not wish to fly, yet, so I do not think Langkawi will be in my itinerary for the moment. by the way, Melaka is also a favourite destination for Singaporeans who has cars.

So, Melaka is definitely a busy place during holidays and it will be a busy place as soon as Malaysia reopens its borders to Singapore. Perhaps this is also the reason why some developers are taking a long term approach when it comes to Melaka by spending RM118 million on parcels of land in Jasin, Melaka.

Article in nst.com.my Teladan Setia Group Bhd is buying five parcels of land in Jasin, Melaka, measuring a total of 136.9 hectares for RM117.9 million. The five parcels of land are strategically located between Tiara Melaka Golf and Country Club and Orna Golf and Country Club, just after the northeast boundary of Central Melaka.

Managing director Richard Teo Lay Ban said, “Thanks to our strong cash position and healthy gearing ratio, we can make the most of the current opportunity, and these landbank expansion efforts will sustain our pipeline developments well into the future.”

Teo also shared that the five parcels of land are expected to be used to develop gated and guarded townships. He said, “Due to the pandemic, people are spending significantly more time at home these days.” Do read the full article here: Article in nst.com.my

When do I think travelling to Melaka is possible?

For Malaysians, some time within October 2021 may be possible. For Singaporeans, November 2021 may be a more realistic date for it. After all, reopening to foreigners would be a major step. if it is Singapore, then at least the agreement would be on ministerial level. By the way, Singapore is already moving towards living with Covid-19 yeah. They are treating it as endemic and no longer pandemic.

Do Melaka offer property investment potential?

Melaka is a small state. It is loved by many people including even Singaporeans and it just below 2 hours by driving from Selangor and Kuala Lumpur merely next to Negeri Sembilan and Johor Bahru. It even has a UNESCO Heritage city status, the same one and same time as Penang.

As long as it remains popular, visitors would need accommodation. There is definitely a need for more rooms in the future. Hotel rooms do not cater to every type of travelers too. Just not at the moment since no one is allowed to travel. Yes, I do hope that I have a small unit in Melaka in the future. Haha. Just no idea when, yet.

In the mean time, stay safe. Soon, happy travelling yeah.

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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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