31 October 2009

Construction & Property 101 - Volume 3.

So, the month has come to an end again, and once again, I shall blog on my special section; Construction & Property 101. This is the 3rd month running so far - hence, Volume 3.

Anyways, today's main highlight would be mainly on the Budget 2010.

Our PM had said that the country's economy was to grow 2-3% in 2010, of which construction were to grow 3.2% itself. Another booster is that the income per capita is to increase by 2.5% to RM24,661. Thats quite an interesting starter to look forward to for next year, but we want to hear more!

Construction and infrastructure budget - on the electricity infrastructure side, TNB is expected to pump in about RM5billion to implement electricity generation, transmission as well as distribution projects next year. Then, there's another RM137 million to upgrade and improve the drainage and irrigation systems in paddy fields for the farmers; another RM70million to build the Paya Peda Dam for paddy irrigation in Besut; some RM2.3billion to build and upgrade the rural infrastructure; a good RM14.8 billion to manage, build and upgrade hospitals and clinics as well as RM41 million to improve the Orang Asli community's quality of life.

Proposed new UiTM campus.

The Government also wants to implement and intensify the public-private collaborations, including some projects such as a new Customs & Quarantine complex to be built in Bukit Kayu Hitam, the development of Matrade centre as well as the development of six new UiTM branch campuses throughout the country.

All in, the Budget 2010 allocations totalled RM191.5billion, of which RM138billion is for operation expenditure and another RM53.2billion is for development expenditure.

E&O's St Mary Residences.

Take that expenditure allocation; add in the private sectors as well; in the past few months, we've heard so much about the top local developers planning big launches in the coming months. These developers include Sunrise, S P Setia, E&O, Mah Sing, I&P, and even the contractor-turn-developers, Gamuda, WCT, UEM and so on.

Sunrise's new launch, MK28.

I think there's a bright 2010 to look forward to; at least for us Property and Construction players.