Monday, August 27, 2012

RRI land bought at around RM22.50 per sq ft

In an announcement today, Kwasa Land, a subsidiary under EPF has bought 2,330 acres of land at RM2.28 billion from the government. That comes to around RM22.46 per sq ft (which is seemingly very cheap). The development is planned for 15 years.

With such a large development being offered, will property prices taper down? - as supply will definitely increase.

Can I say something needs to be done to reduce the prices of properties? And this can be a good start.

p.s. Although I need a new house, believe me I am not in those category that seriously in need of one.


Unknown said...

I am almost certain that, Kwasa Land, being not developers themselves, will parcel out the land to catalyst developers like Sunway, SP Setia, Mah Sing, etc. These "branded" developers will most likely price their products at a premium. Hence it is "fat hope" expecting cheap houses in such a prime location

felicity said...

Haha, can't be cheap as these people will camp 1 week otherwise.