{"id":38720,"date":"2024-08-07T17:03:16","date_gmt":"2024-08-07T10:03:16","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=38720"},"modified":"2024-08-07T22:51:42","modified_gmt":"2024-08-07T15:51:42","slug":"indonesias-high-speed-whoosh-train-saves-trillions-in-fuel-plus-more-updates","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/indonesias-high-speed-whoosh-train-saves-trillions-in-fuel-plus-more-updates\/","title":{"rendered":"Indonesia\u2019s high-speed Whoosh train saves trillions in fuel, plus more updates"},"content":{"rendered":"
\"\"
anindyoandar\/Shutterstock<\/figcaption><\/figure>\n

For PropertyGuru\u2019s real estate news roundup, the Whoosh train has been able to save the Indonesian government trillions of rupiahs in fuel savings since it began operations last year. In other news, Malaysia\u2019s property stocks remain in comeback mode. Lastly, residential buyers are \u2018holding back\u2019 because of the Philippines’ interest rate situation and inflation.<\/p>\n

Indonesia\u2019s high-speed rail contributes to fuel savings, local economy amid reports of losses by state firms: Minister<\/b><\/p>\n

Amid reports that government-owned construction firms had suffered losses due to their involvement in Southeast Asia\u2019s first high-speed rail project, Indonesia\u2019s State-Owned Enterprises Minister Erick Thohir said that the Whoosh train has been able to save the government trillions of rupiahs in fuel savings since it began operations last year.<\/p>\n

Not only does Whoosh cut the travelling time between Jakarta and Bandung, but Mr Erick stressed that it also uses energy more efficiently.<\/p>\n

\u201cBy using electricity, the Jakarta-Bandung high-speed rail can save IDR3.2 trillion (USD197 million) per year in fuel (costs),” Mr Erick said in an Instagram post on Saturday (20th July), without elaborating on how the savings were calculated.<\/p>\n

CNA<\/a> reports that he made the statement when accompanying President Joko Widodo back to Jakarta from Bandung using Whoosh, the first high-speed rail in Southeast Asia built in collaboration with China.<\/p>\n

Malaysia property stocks remain in comeback mode<\/b><\/p>\n

Property stocks, which rallied over the past few months, were among the hardest-hit counters on Bursa Malaysia in the recent global equity rout. Investors rushed to take profits as market sentiment was shaken by external headwinds.<\/p>\n

Still, the party has just started and is likely far from over given the fundamental reasons and undemanding valuation.<\/p>\n

Despite an 18.9 percent year-to-date gain, the Bursa Malaysia Property Index, which tracks 98 property counters, is now trading at a price-to-book (P\/B) of 0.61 times, a 10.8 percent discount against its 15-year averages, according to The Edge Malaysia<\/a>\u2019s computation.<\/p>\n

\u2018Residential buyers holding back\u2019 in the Philippines<\/b><\/p>\n

The Philippine residential property sector saw a slight decline in total residential real estate loans (RRELs) in the first quarter of 2024, attributed to fewer project launches by developers and cautious buyer behaviour due to interest rates and inflation, according to Leechiu Property Consultants.<\/p>\n

\u201cThe overall decline in loans can be attributed to both developers introducing fewer projects and buyers holding back on purchases because of the interest rate situation and inflation, which have been elevated for some time already,\u201d Leechiu Director of Research Roy Amado L. Golez, Jr. told BusinessWorld<\/a> via an e-mailed statement over the weekend.<\/p>\n

The Property Report editors wrote this article. For more information, email: <\/i>propertyreport@propertyguru.com<\/i><\/a>.<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"

Indonesia\u2019s Whoosh train, Malaysia\u2019s property stocks, Philippines\u2019 residential buyers<\/p>\n","protected":false},"author":12,"featured_media":38721,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92,1],"tags":[3802,2397,638,566,4034],"class_list":["post-38720","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-property-report","tag-news-roundup","tag-property-stocks","tag-real-estate","tag-residential-market","tag-whoosh-train","news_country-indonesia","news_country-malaysia","news_country-philippines","news_author-property-report"],"acf":[],"yoast_head":"\nIndonesia\u2019s high-speed Whoosh train saves trillions in fuel, plus more updates | Asia Property Awards<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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