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Posted Date: May 26, 2009 12:00:00 AM
iProperty.com Survey: Malaysians feel that property prices are too high

iProperty.com Malaysia (www.iproperty.com.my), Malaysia’s No. 1 property website and part of the iProperty.com Group (www.iproperty.com), reveals the results of its latest survey on the real estate market, which show that the majority of Malaysian property hunters feel that there is a property surplus in Malaysia and that most selling prices are unrealistically high.

 

Results of three separate polls, which were carried out between 11 February and 14 April 2009 in three countries – Malaysia, Singapore and Hong Kong – reveal that all three countries carry similar sentiments, with majority of respondents opining that there is a surplus of properties in their respective markets and selling prices are too high. Majority of these respondents also plan to buy properties in the near future but are waiting for prices to fall further before making any purchases.

 

Poll 1: Do you think there is a property surplus in Malaysia?

  • Out of the total 110 respondents who participated in the first poll, 84.55% felt that there is a property surplus in the country while the remaining 15.44% felt otherwise.

 

Chart 1: Malaysia, poll results

 

Poll 2: Are you planning to buy property in the near future?

  • Out of the total 100 respondents, 39% said that they might buy properties but are waiting for prices to fall further while 27% felt that it is a great time for bargain hunting.
  • Another 21% expressed interest in buying properties but cannot afford to while 8% are considering it.
  • 5% are not interested in buying properties in the near future.

 

Chart 2: Malaysia, poll results



Poll 3: As a property hunter, how are you finding the search process?

  • Out of the total 275 respondents, majority (58.91%) felt that current asking prices are unrealistic while 12% found that there aren’t a lot of properties available and when a suitable unit is found, there are many other buyers vying for it too.
  • Meanwhile, 9.82% found it almost impossible to find properties and need to rethink all factors considered before the market downturn and 8.36% felt that there are places available but buyers really need to hunt for them.
  • About 10.91% felt that there are plenty of options available especially in the buyer’s market.

 

Chart 3: Malaysia, poll results

 

 

 

 

 

 

 

 

 

 

 

 

 

 

From the results, it is safe to conclude that there is still a lot of demand for properties, with many buyers still on the lookout for great bargains. Despite the surplus of properties in Malaysia, most buyers feel that asking prices are unrealistic and prefer to wait for prices to fall further.

 

According to Executive Chairman of the iProperty.com Group, Patrick Grove, one can expect the number of transactions to increase as the gap closes with sellers eventually bringing down prices in order to sell their properties.

 

“Sellers will eventually lower asking prices when properties have been on the market for too long and the more desperate sellers will definitely do so to realise cash for other needs. On top of that, there is a huge supply coming onto the market and this will put downward pressure on property prices. Bargain hunters will definitely snap up good deals during this period,” says Grove.

 

Grove adds that there is further evidence of big demand for properties in Malaysia, with the recent iProperty.com Expo “Property Showcase” receiving 30,000 visitors snapping up RM50 million worth of properties during the three-day event which ran from 10 until 12 April at the Mid Valley Exhibition Centre.

 

In the previous two polls carried out by iProperty.com Malaysia, results showed that Malaysians were still optimistic about the market and this is further proven by the latest polls. Grove had previously attributed the optimism towards the less profound impact of the US financial crisis and the fact that the Malaysian market was growing at a different rate from other countries prior to the crisis.

 

The iProperty.com Group is Asia’s leading network of property portals. iProperty.com Malaysia was recently ranked by Google Ad Planner as the top property portal in Malaysia, with over 300% more unique visitors and 1750% more page views than its closest competitor.

 

In addition to the speed and convenience of the internet, iProperty.com provides consumers with a greatly enhanced property hunting experience via a comprehensive range of features and property hunting tools. These include a powerful search function; a large database of the latest listings complemented by photos, videos, virtual tours and Google maps; email alerts; a large pool of useful resources and guides, and iExpert, a novel platform for users to seek answers and share knowledge on property related matters. On top of that, it regularly carries out surveys and polls to collate useful data for its consumers, as an added value for property hunters and sellers alike.

 

iProperty.com online polls and surveys are conducted across three countries – Malaysia, Singapore and Hong Kong – on a regular basis. These polls pose questions that elicit market sentiment in these three key Asian markets in the real estate industry. The results of iProperty.com’s online polls and surveys are relevant, current and reflective of the market as it reaches a wide audience with its large volume of traffic website and unique visitors.


Annex

 



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Posted Date: September 08, 2008 12:00:00 AM
iProperty.com and MSN will now offer Malaysians more on the latest hot property

MSN has joined forces with iProperty.com (www.iproperty.com), Asia’s leading network of online property portals and operator of Malaysia’s No. 1 property website iProperty.com Malaysia (www.iproperty.com.my), to develop exclusive and dedicated property channels on MSN Malaysia and MSN Singapore.

The 7.4 million strong MSN and Windows Live community in Malaysia will now be able to see all the properties on iProperty.com Malaysia (www.iproperty.com.my)’s website through MSN Property, in real time. Combining MSN’s broad reach with the high volume of targeted traffic generated by the iProperty.com network, the channels will also provide real estate advertisers with the most effective real estate internet advertising solution in Malaysia and Singapore.

Rick Mulia, Executive Producer of MSN Asia feels “there is great value in this partnership with iProperty.com as it will significantly enhance our offering in the online real estate space which is one of the fastest growing segments in these markets. This represents a great stride in MSN’s strategy to provide the best content to millions of people who want to know what’s going on.”

Patrick Grove, Executive Chairman of the iProperty.com Group said, “We are delighted that MSN has selected iProperty.com to become the exclusive content provider to the MSN Property Channels in the key Asian markets of Malaysia and Singapore. This is a strong testament to iProperty.com’s leading position in Asia, as well as our product and capabilities. Integrating our content with MSN means millions of users will benefit from iProperty.com services and content.”

The partnership will leverage the growing trend of people using the internet as the favourite medium hunt and purchase property, as concluded by the iProperty.com Group’s Asia Property Trends Survey, which was released in February 2008.

51% of the 2,066 survey respondents in Asia said that the Internet is the first medium they turn to when embarking on their property search; compared to 23% and 10% who indicated newspaper classifieds and property agents respectively.

When asked why the Internet is their preferred medium for conducting their property hunt, respondents ranked the following reasons in descending order: Speed and convenience (81%), 24x7 availability (70%), ability to view properties through photos (62%), better way to get updated on the latest properties for sale (53%) and better selection (43%).
 
iProperty.com’s network of property websites get over 750,000 unique visitors per month who view property listings provided by over 4,000 agents and 100 developers across Asia. In Malaysia, it is the No. 1 property website and has over 35,000 quality property listings. The country’s top property developers, including 8 of the top 10 developers, use the portal as a marketing platform.

Overall, MSN attracts more than 465 million unique users worldwide every month. With localised versions available globally in 42 markets and 21 languages, MSN is a world leader in delivering Web services to consumers and online advertising opportunities to businesses worldwide. Last year, MSN partnered with Control Room to stream Live Earth, the largest online entertainment event in history with over 62 million streams worldwide.

Please visit http://msn.iproperty.com.my to find out more about MSN Property.


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Posted Date: August 22, 2008 12:00:00 AM
Cut low-cost housing quota to 15%, says Hunza

Hunza Properties Bhd chairman Datuk Khor Teng Tong proposed that the 30 per cent low-cost housing quota imposed on private property developers be reduced to 15 per cent in order to help the property industry cushion the impact of the current softening of the sector, which is expected to continue into 2009.

The review will spur property players to reduce prices of other units being developed. Khor said that the current quota is not helping consumers since developers merely transfer the cost in building other properties to them.

"But by being made to subsidise less, we can then transfer the cost-savings to our buyers," he told a media briefing in Penang on Wednesday after announcing Hunza's financial results for the year ended June 30 2008.

Khor noted that the property cycle is on a downward trend. "Factors such as price increase of building materials and the current local political environment are impacting negatively on the industry," said Khor, who is also president of the International Real Estate Federation (FIABCI) Penang branch.

Other items on Hunza’s wish list for Budget 2009 include a review on the stamp duty to lower costs of home ownership, as well as control of steel and cement prices.

Meanwhile, construction of the RM700 million Gurney Paragon in Pulau Tikus is on schedule despite the company’s cost-cutting measures such as taking on the role of main contractor for future phases of the project. Khor said that such measures enable them to save between six per cent and 10 per cent in margins.

He also said that Gurney Paragon and Infinity in Tanjung Bungah are targeted at foreign purchasers; and the government can help Malaysian property players who market their projects overseas by giving tax incentives for overseas property promotions.

"Hunza has not experienced any significant margin compression as our products remain in demand and we have adjusted prices to cover the increase in cost," he added.


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Posted Date: August 21, 2008 12:00:00 AM
CapitaLand to list RM2b REIT comprising Malaysian shopping malls

Singapore-based CapitaLand Ltd, Southeast Asia’s largest real estate company, has submitted its application to list a RM2 billion real estate investment trust (REIT) on Bursa Malaysia.

The REIT, which includes Sungai Wang Plaza in Kuala Lumpur, Gurney Plaza in Penang and Mines Shopping Fair in Seri Kembangan, Selangor, is expected to receive an approval before October. CapitaLand chief investment officer, Kee Teck Koon said that it hopes to list the REIT before year-end but it would depend on the performance of the local capital market.

According to him, the company is very clear on listing in Malaysia and is seeking high-value commercial properties in Kuala Lumpur but has nothing concrete currently. In June, it acquired 62 per cent of Sungai Wang Plaza’s retail area for RM595 million.

Kee was speaking to the media after the topping-up ceremony for the Tower D project in KL Sentral, Kuala Lumpur, yesterday. The commercial building, which sits next to Sooka Sentral and opposite the Sentral rail station, has received strong tenant interest.

Quill Group of Companies executive director, Datuk Michael Ong said that 65 per cent out of the project’s total net lettable space of 355,323 sq ft has been taken up, and mainly by foreign companies. He added that the project, to be completed in the first quarter of 2009, is expected to be fully tenanted by end of this year.

According to Ong, the average monthly rental in KL Sentral was between RM6 and RM7 psf while the latest property transaction price in KL Sentral was RM1,000 psf. The group expects demand for top-grade commercial properties to remain high due to the limited supply of commercial assets especially in areas close to KLCC.

Tower D, a 29-storey office tower with a six-storey podium, is being developed by Quill Realty Sdn Bhd, which is 60 per cent owned by Quill and 40 per cent by Malaysia Commercial Development Fund (MCDF). MCDF is managed by MCDF Management Pte Ltd, an indirect wholly-owned unit of CapitaLand with Aseambankers Malaysia Bhd as its principal adviser.


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Posted Date: August 21, 2008 12:00:00 AM
TH Properties and Bank Islam team up on loan scheme

TH Properties Sdn Bhd, developer of Bandar Enstek, has tied up with Bank Islam Malaysia Bhd on a loan package which will benefit some 12,200 potential buyers of the development’s latest phase, timur@enstek. The agreement will see buyers enjoying up to 100 per cent housing loan and waiver of payments during the construction period.

"We decided to be proactive, and come up with a 'no-payment during construction' scheme for home financing in anticipation of the impact of rising costs of living on disposable income," Bank Islam managing director Datuk Zukri Samat said in Kuala Lumpur yesterday.

The introduction of this package will give buyers the opportunity to purchase a house almost without having to pay anything until the house is fit for occupation. The bank also offers a two-month payment holiday scheme under which customers have the option to skip payments for November and December every year. Despite the flexibility, Zukri said that the bank will not compromise on credit security.

TH Properties chief executive officer, Zaharuddin Saidon said there would be 12,400 residential units consisting of link houses, town villas, apartments, semi-detached bungalows and bungalows in timur@enstek upon completion in 2015. Since its launch, 200 units have been sold at the new phase.

Zaharuddin said it will go ahead with its RM100 million worth of property launches planned for this year despite the rising cost of building materials. He said that the company is taking the opportunity to launch its products as other developers delay theirs, and added that the company is working on various measures to reduce costs to maintain its prices.

The RM100 million worth of properties will comprise bungalows and cluster units to be launched at timur@enstek at the end of this year.


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Posted Date: August 20, 2008 12:00:00 AM
Property market to recover in 6 to 9 months, says Rehda

The sluggish property market could recover in six to nine months when the supply of materials stabilises and the people adapt to the higher cost of living.

“In 2009, the cloud will be clearer. When there is certainty in fuel price and there is regular cement and steel supply at market-driven prices, I think people can better plan their lives,” said Datuk Michael K C Yam, chairman of the Real Estate and Housing Developers Association (Rehda).

Property buyers are cautious after Malaysia hiked petrol price by 41 per cent in June. Some buyers have problems getting financing as banks become stricter in approving loans due to a tough economic outlook.

Construction and operational costs rose 30 per cent and 20 per cent respectively, causing some 20 per cent hike in prices of new launches. Rehda’s property survey for the first half of this year revealed that the rising costs of building material and fuel have also affected developers’ production delivery.

“Most members reported having difficulties in getting consistent supply of building materials besides their continuously rising price, especially steel and cement,” said Yam.

Out of the 135 respondents for its survey - comprising housing and property development companies - more than half said they are launching new projects for the second half of this year. As for new launches in the first half of the year, the amount was almost half compared to the same period last year.

The average number of units to be launched per developer for the second half of this year is 152 units, less than the 169 units in the same period last year. According to Yam, terrace houses remained the most popular at 50.4 per cent, mostly in the RM100,000 to RM250,000 price range, followed by apartments and condominiums at 15.6 per cent.

On sales performance in the second half, 26 respondents reported static performance, 14 percent worsening sales and 13 percent better performance. "Only Johor and Perak recorded better sales performance nationwide," Yam said, attributing current economic situation, household disposable income and pricing issues as the reasons.


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Posted Date: August 20, 2008 12:00:00 AM
MBAM: Govt should further explain cement & steel liberalisation

The Master Builders Association Malaysia (MBAM) believes that there needs to be further explanation from the government regarding the approval process for liberalisation of cement and steel products.

According to a statement made on Tuesday, contractors are still facing difficulties in importing steel bars even after the liberalisation of steel products since May 12.

MBAM said several thousand metric tones of steel bars are stranded in Johor Causeway because custom officers disallowed entry of the consignment without Approved Permit (AP) and certification of conformity to MS146.

Under the latest custom order on liberalisation of steel bars, exemption of AP and import duty would be given if the imported bars complied with MS146 or "equivalent".

"In the construction industry, the word 'equivalent' is perceived to cover BS4449 which is the specification being used in all construction tenders and by many consulting engineers," MBAM said.

Minister of International Trade and Industry, Tan Sri Muhyiddin Yassin said that the government needs to further explain to market players about the approval process for liberalisation of cement and steel products.

With assurance from the ministry, MBAM is hopeful that the issue will be resolved.


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Posted Date: August 20, 2008 12:00:00 AM
Rehda’s Budget 2009 wishlist: bumi quota policy to not exceed 30%

The Real Estate and Housing Developers Association (Rehda) hopes the government will revise the bumiputra quota policy to not exceed 30 per cent in order to boost the housing sector.

The bumiputra quota currently ranges between 30 per cent and 70 per cent; for example in Selangor it is 50 per cent and in Johor, 40 per cent.

Rehda chairman, Datuk Michael K C Yam said that Rehda also wants the bumiputra quota release mechanism to be standardised, structured and transparent, requesting that the government allow for automatic release of unsold bumiputra units to the open market.

In its wishlist for Budget 2009, Rehda requested that the bumiputra discount be capped at five per cent and made applicable only for houses priced RM250,000 and below, and for low cost and medium cost houses to be excluded from bumiputra discount.

Rehda also suggested that the government take over the task of providing low cost houses, through Syarikat Perumahan Negara. In view of escalating material prices, low cost housing ceiling price should be reviewed from RM42,000 to RM60,000 per unit and to RM75,000 per unit for Klang Valley.

The association also hopes that the government will provide tax incentives for REITs to attract more investors and tax deduction on housing loan interest incurred for houses priced RM250,000 and below. Yam said that it also hopes for further downward revision of stamp duty rates.


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Posted Date: August 20, 2008 12:00:00 AM
iProperty.com Group acquires Taiwan’s No. 1 online property portal, VRHouse.com.tw

Following the launch of Asia’s first regional luxury property website – iLuxuryasia.com (www.iluxuryasia.com) - the iProperty.com Group, owner of Asia’s leading network of property portals and Malaysia’s No. 1 real estate website, iProperty.com Malaysia (www.iproperty.com.my), has acquired a controlling stake in Info-Portal Tech International Company Limited, owner of Taiwan’s No. 1 property buying website, VRHouse.com.tw (www.vrhouse.com.tw).

VRHouse.com.tw is Taiwan’s No. 1 online property portal as measured by user traffic, developer clients and revenue. Info-Portal Tech International Company Limited is based in Taipei and operates the portal and all its related sites, which are Chinese language based. In total, over 225,000 unique users view and use VRHouse.com.tw’s property listings and services each month.

Patrick Grove, executive chairman of iProperty.com Group, said: “We are delighted with the acquisition of VRHouse.com.tw in Taiwan. Our experience in Malaysia, Singapore, Hong Kong and the Philippines allows us to bring a strong value-added proposition to VRHouse.com.tw. We also look forward to working with the dynamic, entrepreneurial local team to further dominate the Taiwan market and the region at large.”

“Most importantly, this acquisition completes our ownership of market-leading property portals across the Chinese diaspora in the region. We now hold the unique position of operating the leading online property portals in all the Chinese-speaking markets in this region ex-China, allowing us an exceptional strategic opportunity,” said Grove, adding that Taiwan has exceptional broadband penetration. He also added that recent moves to open the market to mainland Chinese investments translate into good news for the property market in Taiwan.

“We are extremely pleased that we have been able to acquire the clear leader in the Taiwan online property market,” said Grove. According to him, iProperty.com’s regional sites and listings network is now viewed by over 1 million unique users in Asia Pacific each month and there is further excitement caused by recent political events and strengthening of ties with China which is expected to result in a significant increase in mainland Chinese investing in Taiwanese property. He also said that the group plans to position newly acquired VRHouse.com.tw as a key media property that facilitates the process.

Jackson Cheng, chairman of Info-Portal Tech International Company Limited said, “We are extremely excited by this transaction and believe that under the iProperty.com umbrella, VRHouse.com.tw’s efforts to continue to grow and dominate the online property market in Taiwan will be greatly boosted.”

The acquisition of VRHouse.com.tw is an addition to the group’s market-leading online property operations in Singapore, Malaysia, Hong Kong and the Philippines, and represents the latest in a string of acquisitions since its listing on Sept 11, 2007. The group continues to seek further strategic acquisitions of leading property portals and complimentary businesses throughout regional markets.

***
About iProperty.com Malaysia (www.iproperty.com.my)
iProperty.com Malaysia is the country’s No. 1 property and real estate website in all key metrics (confirmed by: ComScore, Frost & Sullivan and Alexa.com). Working with Malaysia’s top developers and more than 1,500 real estate agents, the website offers the largest online database of properties for sale and rent in the country. iProperty.com Malaysia also publishes a monthly magazine.

About iProperty.com (www.iproperty.com)
The iProperty.com Group is Asia’s No. 1 online property group, with leading property websites in Singapore, Malaysia, Hong Kong and Philippines. It is part of Australian Securities Exchange-listed IPGA Limited (www.ipgalimited.com), (ASX: IPP). Recently, the iProperty.com Group made history by winning the highly prestigious CNBC Asia Pacific Property Awards in the “Best Property Portal” category for four of its websites – Singapore, Malaysia, Hong Kong and Philippines.

iProperty.com Network:
Singapore: iProperty.com Singapore
Malaysia: iProperty.com Malaysia
Hong Kong: GoHome.com.hk and House18.com
Taiwan: VRHOUSE.com.tw
Philippines: iProperty.com Philippines
Events: iProperty.com EXPO
Luxury: iLuxuryasia.com


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Posted Date: August 19, 2008 12:00:00 AM
Country Heights Holdings Berhad wins two CNBC Asia Pacific Property Awards 2008

Country Heights Holdings Berhad has done Malaysia proud with two of its luxury properties – Country Heights Damansara and Borneo Highlands Resort, Sarawak – chosen as four-star winners at the prestigious CNBC Asia Pacific Property Awards 2008 in an international gala ceremony held in Singapore recently.

Country Heights Damansara was selected as Best Development for its unique “Homes on A Hill, Homes with Character” concept. Its other winning points were its safety and security measures, strategic location and more than 200% increase in price appreciation in six years.

Borneo Highlands Resort, Sarawak, was chosen as Best Golf Development. Its winning point was its natural beauty, located in the heart of the world’s second oldest rainforest on the Penrissen Highlands of Kalimantan, with one of the highest golf courses in the world.

Receiving the award for Country Heights Damansara was the Chief Executive Officer of Country Heights Holdings Berhad, Dato’ C.S. Ong; whilst the Group Managing Director of Country Heights Holdings Berhad, Mark Rozario received the award for Borneo Highlands Resort.

“We are proud and delighted with this achievement,” said Dato’ Ong.  He emphasised that the success of Country Heights Damansara is based on the unique approach of creating homes that co-exist naturally with the contours and environment of the terrain. “Together with our win for Borneo Highlands, it further strengthens the strong brand name of Country Heights as a leading, luxury green developer,’ he added.


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Posted Date: August 19, 2008 12:00:00 AM
SPK Homes launch Tree Planting Campaign at Cahaya SPK, Shah Alam

SPK Homes launched its Tree Planting Campaign yesterday at the development site of Cahaya SPK in Shah Alam, where over 25,000 trees will be planted in addition to the enclave’s existing green lung and 17 homeowners who adopted trees were awarded plaques citing details of the tree and its species.

The campaign, officiated by Mazalan bin Md Noor, Datuk Bandar Shah Alam, is part of the development’s adoption of the “green living” concept and falls in line with the city’s objective to have a million trees planted.

Mazalan applauded SPK Homes for their efforts in creating environmental awareness through its active interaction with the future residents of Cahaya SPK and added that the campaign is an exemplary effort by property developers in infusing the “green living” concept.

Steven Lim, head of property at SPK Homes said: “As a responsible community, we equally need to be able to see that trees are more than just guards against carbon dioxide emissions. There are more ways that trees enrich our lives – especially in our efforts of being a sustainable community.”

He added that the greenery is one of the development’s main selling points. Apart from landscape aesthetics, the developer also recognises the functions of trees as a vital habitat of wildlife and its educational benefits.

Also at the event were representatives from the Forest Research Institute of Malaysia (FRIM) who presented a workshop on tree planting, introducing the myriad of tree species and its benefits to future residents. 

In conjunction with the event were activities for homeowners and their families such as Educational Exhibition & Activity by FRIM, Nature Treasure Trail, Tree Collage and Exotic Animal Exhibit. Children had the opportunity to learn the paper making process and to participate in an educational tour of over 20 types of exotic animals.

SPK Homes is the property division of Sharikat Permodalan Kebangsaan Berhad (SPK) and has developed projects with a total gross development value of more than RM600 million over the past five years. Some of its developments include Sunway SPK Damansara, Bandar Menjalara, Ambangan Heights in Kedah, and Gelugor Heights in Penang.


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Posted Date: August 19, 2008 12:00:00 AM
UEM Land to expand landbank beyond Nusajaya, may acquire land in other states and overseas

UEM Land Bhd, master developer of the 4,047ha Nusajaya in Johor, intends to expand its landbank as part of its group reorganisation. “The intention is to expand and diversify beyond Nusajaya,” said UEM Group Bhd managing director Datuk Ahmad Pardas Senin.

According to Ahmad Pardas, the expansion may include acquisition of land in other states as well as overseas, and that the company was in exploratory discussions with several parties including from Vietnam, India and the Gulf States. However, whether the deals will be sealed depends on whether it fits into its expansion plans, he added.

The listing exercise in November will see UEM Land listed in place of its parent company, UEM World Bhd. A listing prospectus, outlining the company’s projects, landbank and strategy, will be issued by mid-October, said Ahmad Pardas. He added that with the company’s improved balanced sheet and gearing of about 1.3 times, it has the capacity to borrow to fund its new undertakings.

On the second Penang bridge, Ahmad Pardas said UEM Group will continue construction works unless it receives formal instruction to do otherwise. He said that the group had spent some RM200 million on the works so far on the 24km bridge.

Meanwhile, on the government’s proposal for toll operators in Klang Valley to reduce toll rates, Ahmad Pardas said it was up to the government to decide on the review and that PLUS Expressways Bhd, which is part of UEM Group, will work with the government to find an amicable solution.


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Posted Date: August 19, 2008 12:00:00 AM
Truly connected community living @ Cahaya SPK

A group of tech-savvy homeowners from Cahaya SPK officially launched their “first-of-its-kind” online community forum: www.cahayaspk.net at the site of their future home recently, attended by 200 home buyers.

Overwhelmed by the enthusiasm of its homebuyers, SPK Homes has been closely supportive of the forum, which will remain independently facilitated by the buyers themselves. Expressing his support, Steven Lim, Head of Property at SPK Homes, said: “We applaud the efforts of these homebuyers who have taken ownership in creating and playing an active part in this community. We are equally committed to responding to their queries and concerns. Now that we have www.cahayaspk.net, this process is made easy and seamless.”

Spokesman for the online community Auzani Ridzwan said: “The forum will eventually phase out from its current drive on building the buyers’ community, monitoring of construction process and general inquiries to providing a medium of communication on home repairs, maintenance, security and event updates on the myriad of activities planned out for the community.”

Amongst others, the website provides a reliable source of community, local and even property news. Users can also view topical forum highlights and even scroll through a neighbourhood map that allows residents to view the locations of their “online” neighbours.


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Posted Date: August 19, 2008 12:00:00 AM
IJM Land 'lights' the way at property expo

THE LIGHT Waterfront, IJM Land Bhd’s flagship development in Penang, is the premier property featured at the i-Property exhibition which opened at the KL Convention Centre recently.

The 152 acres of mixed residential and commercial developments over 338 acres of reclaimed land along the eastern coastline of Penang will begin construction this September and is expected to be completed in 2017.

IJM Land Managing Director, Dato’ Soam Heng Choon, said: “THE LIGHT Waterfront is IJM Land’s jewel in the crown. We are very proud of the project as it will transform Penang into a modern and progressive state that is well positioned to go forward.”

The RM6.5 billion mega-project will be developed over three phases and is equipped with eco-friendly technologies, resulting in energy-efficient, healthier, and environmentally sustainable buildings. “We are committed to developing eco-friendly buildings as they will help our customers save on utility bills. This is important, especially now with rising energy costs,” he said.


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Posted Date: August 19, 2008 12:00:00 AM
I-Berhad, Aussie firm to develop I-City tech facility

Property developer I-Berhad and Australian serviced office provider Servcorp Ltd will spend an estimated US$30 million (RM98.1 million) over the next five years on technology infrastructure in the RM2 billion I-City property development in Selangor.

The i-City concierge service will have key services such as reception greeting, call management, facility management and customer service support, as well as provide state-of-the art information technology infrastructure.

“Under the concierge service provided to i-City, US$30 million will be invested over the next five years, starting with the Cybercentre Office Suites which have recently been completed,” said ServCorp chief information officer Marcus Moufarrige.

“Recovery (of investment) will take between three and five years and we have spent about RM10 million so far on the first phase of our 44-unit CityPark Cybercentre Office Suites,” said I-Berhad deputy chief officer Lim Boon Siong.

The human aspect of the concierge service will be provided by ServCorp, while the innovative technology services will be provided by i-Office2 Sdn Bhd, a US$1 million (RM3.3 million) 35-65 joint venture between I-Berhad and Servcorp. The joint-venture company will obtain the bulk of its fee from services such as broadband, telecommunications and virtual offices.

I-City is the first private initiative to be awarded the Multimedia Super Corridor status Cybercentre. The first phase, comprising 300,000 sq ft, is expected to be operational by September.


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Posted Date: August 18, 2008 12:00:00 AM
Setia Haruman expects high take-up rate for RM200m Cyberjaya project

Setia Haruman Sdn Bhd (Setia Haruman), master developer of the 2,800ha Cyberjaya, is confident that its RM200 million CBD Perdana 2 project will achieve a high take-up rate despite uncertainties in the current market.

The two-year project, targeted for launch by September this year, offers signature retail-cum-corporate office suites in a smart business environment suitable for companies looking to adopt information technology in their businesses.

Aside from the office suites – which will add 500,000 sq ft of office space to Cyberjaya’s current 3.7 million sq ft completed office space by 2010 – the company is also planning to launch 55 units of semidees priced above RM800,000 per unit in December.

Prior to this, Setia Haruman had developed more than 200 high-end bungalow lots, 42 units of superlink homes fronting the lake and 120 high-end condominium units. The condominium, known as D’Melor, has been sold out and tenanted, while the bungalow lots have a take-up rate of more than 80 per cent.

Corporate finance general manager Balasundram R. said that the company has received foreign interest to set up data centres in Cyberjaya, which will be the main activities there apart from research and development centres.

Cyberjaya’s population currently stands at 35,000 and is projected to reach 60,000 by 2010, raising the need for more housing. To date, 20 per cent of the digital city has been developed, with 70 per cent of land available for sale and 10 per cent of land reserved for new projects.


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Posted Date: August 18, 2008 12:00:00 AM
Iskandar Investment targets RM500m investments from Singapore

Iskandar Investment Bhd (IIB), formerly known as South Johor Investment Corporation Bhd, aims to attract RM500 million worth of investments from Singapore into Iskandar Malaysia within three to six months.

Arlida Ariff, managing director of IIB, revealed that the company was in negotiations with several Singaporean investors involved in property development and related businesses.

According to her, IIB was also in discussions with some developers from the United States, with intentions to set up theme parks in the Iskandar region. She added that the company has plans for a 202.34ha main theme park with two supporting parks measuring between 40.47ha and 80.94ha each.

The three parks, to be developed close to Sungai Melayu near Danga Bay, would feature nature, heritage and local cultures. An announcement on the main theme park would be made within a year, said Arlida.

IIB is a joint venture between Khazanah Nasional Bhd, Konsortium Prasarana Rakyat Johor and the Employees Provident Fund and was set up to drive commercial initiative in Iskandar Malaysia.


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Posted Date: August 15, 2008 12:00:00 AM
Builders call for import tariffs on steel bars and billets to be scrapped

In order to ease the current shortage of steel bars and billets, the government has been urged to abolish tariffs on the two products, the prices of which have been skyrocketing.

“The proposal will make it easier for the construction industry to obtain cheaper steel bars and feed its current growth and to ensure projects can be completed according to deadline,” said Master Builders Association Malaysia (MBAM) at the Ministry of International Trade and Industry Dialogue 2008 today.

MBAM believes that the suggestion would also help to discipline the local steel industry and perhaps solve the steel shortage problem currently affecting the construction industry.

Meanwhile, the Real Estate and Housing Developers Association Malaysia (REHDA), feels that the authorities should fully liberalise the import of steel bars, rods and wires to counter the shortage of supply for the local property and construction industry.

Although REHDA and related industry players welcome the government’s decision to liberalise the cement market, they do not agree with the 10 per cent import duty imposed, as cement importers are also bogged down with other hefty expenses such as handling and transportation charges.


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Posted Date: August 14, 2008 12:00:00 AM
Bolton to launch projects worth RM3 bil in Klang Valley

Bolton Bhd plans to launch RM3 billion worth of projects over the next two years, with most of the new properties – mostly high-end residential units - located in the Klang Valley.

With the rise of construction costs, a lot of property developers, especially those with middle- and lower-income target markets, have had to review sale prices and delay launches but chairman Datuk Azman Yahya believes that demand for higher-end properties remain strong.

The launches include the Mayang Development, with an estimated gross development value (GDV) of RM2.5 billion, The Piazza at Puchong with a GDV of RM105 million, as well as Tijani 3 and Bolton Court both with a GDV of RM100 million each.

On top of that, the developer is also looking to acquire smaller property developers in the Klang Valley and is already in negotiations with several parties, said Azman. He added that the company hopes to clinch some of the deals over the next 12 months.

Apart from that, Bolton is also seeking to dispose its non-core assets such as the Campbell Complex and Langkawi Fair by the end of March 2009, in order to focus on property development. According to Azman, Campbell Complex is worth some RM55 million and Langkawi Fair is worth between RM45 million and RM50 million.

Despite the slowdown in the property market, Bolton expects higher sales and earnings for the financial year ending March 31, 2009. For the financial year ended March 31, 2008 the company recorded a net profit of RM46.7 million on revenue of RM299.3 million.


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Posted Date: July 29, 2008 12:00:00 AM
iProperty.com Group launches Asia’s first regional luxury property website - iLuxuryasia.com

KUALA LUMPUR, MALAYSIA, 29 July 2008 – Taking advantage of the influx of new capital to Asia and growing global demand for high-end properties in this region, the iProperty.com  Group (www.iproperty.com), owner of Asia’s No. 1 network of property portals and Malaysia’s No. 1 property and real estate website, iProperty.com Malaysia (www.iproperty.com.my), has launched a new property portal specifically for Asian luxury properties.

Largest database of Asian luxury properties
Aptly named iLuxuryasia.com (www.iluxuryasia.com), the website, the first and only one of its kind in Asia, will be the ultimate one-stop guide to luxury properties in key Asian cities beginning with Malaysia, Singapore and Hong Kong and will be accessible via iProperty.com’s current network of property websites under the “Luxury” section. As Asia’s largest databases with over 30,000 luxury property listings for sale and rent, iLuxuryasia.com will provide local and foreign property investors with all the information they need to invest confidently in luxury real estate in Asian markets, without having to scour through different channels.

The launch of iLuxuryasia.com follows the iProperty.com Group’s successful launch of Malaysia’s first one-stop luxury property website, iLuxury.com.my, in May 2007. Since its inception, the Malaysian website has already attracted over 50,000 unique visitors a month, a majority of whom are targeted individuals specifically interested in investing in the high-end property sector.

Patrick Grove, executive chairman of the iProperty.com Group said, "Luxury home prices in Asia still have potential to grow, and hence are perceived to offer good investment opportunities. Potential investors also tend to compare opportunities across Asian markets, with countries like Malaysia, Singapore and Hong Kong, being especially popular. With the wide array of services offered, iLuxuryasia.com is well poised to meet these investors’ needs and make the entire process a cinch.” 

From lavish penthouses in Kuala Lumpur with a stunning view of the city skyline to opulent condominiums in Hong Kong, iLuxuryasia.com is set to become a one-stop portal for those in search of luxurious homes.

Smart tools, definitive guides and useful resources
Aside from showcasing the best of the best in new developments, resale and rental properties, “Buying Guides” will also be available on iLuxuryasia.com, providing useful information and tips about buying and financing properties in selected countries.  The website will also allow users to enter their budgets using the currency of their choice, therefore enabling them to easily assess what sort of properties they are eligible to purchase.

iLuxuryasia.com will also offer expatriates, who are looking to move to key Asian countries, “Country Guides”, which will provide information about obtaining visas, registering for schools and tips for getting around.

Powerful marketing tool for developers and agents
Grove added, “This extremely focused product works synergistically with our other product offerings, and leverages on iProperty.com Group’s extensive network and large captive audience of property hunters. This makes iLuxuryasia.com a very powerful platform for developers to effectively market their properties to a highly targeted audience of the most affluent and involved luxury home buyers across the region.”

 “iProperty.com has already established itself as the leading property network in Malaysia, Singapore and Hong Kong, and high-end properties already make up approximately 5 to 10% of iProperty,com’s current Asian property database.  With the launch of iLuxuryasia.com, we aim to dominate the luxury property sector. We want iLuxuryasia.com to be the first website people think of when they are looking to buy high-end real estate in Asia.”

The iProperty.com Group will also be launching a print publication, iLuxuryasia.com Magazine, in the third quarter of 2008, which will work synergistically with the iLuxuryasia.com website and events series to provide a comprehensive offering for the high-end property sector.

                                                         * * *

About iProperty.com Malaysia (www.iproperty.com.my)
iProperty.com Malaysia is the country’s No.1 property and real estate website in all key metrics (confirmed by: ComScore, Frost & Sullivan and Alexa.com). Working with Malaysia’s top developers and more than 1,500 real estate agents, the website offers the largest online database of properties for sale and rent in the country. iProperty.com Malaysia also publishes a monthly magazine.

About iProperty.com (www.iproperty.com)
The iProperty.com Group is Asia’s No. 1 online property group, with leading property websites in Singapore, Malaysia, Hong Kong and Philippines. It is part of Australian Securities Exchange-listed IPGA Limited (www.ipgalimited.com), (ASX: IPP). Recently, the iProperty.com Group made history by winning the highly prestigious CNBC Asia Pacific Property Awards in the “Best Property Portal” category for 4 of its websites – Singapore, Malaysia, Hong Kong and Philippines.

iProperty.com Network:
Malaysia: iProperty.com Malaysia
Singapore: iProperty.com Singapore
Hong Kong: GoHome.com.hk and House18.com
Taiwan: VRHOUSE.com.tw
Philippines: iProperty.com Philippines
Events: iProperty.com EXPO
Luxury: iLuxuryasia.com


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Posted Date: July 23, 2008 12:00:00 AM
Greening for The Light Waterfront Penang

Jelutong Development Sdn Bhd, a subsidiary of IJM Properties Sdn Bhd, will implement eco-friendly technologies and designs into its RM6.5 billion 338-acre mixed residential and commercial development, The Light Waterfront, in line with the company’s effort to cut costs in utility and promote green building concepts.

The implementation will be based on the guidelines prepared by The Leadership in Energy Environment and Environmental Design (LEED) resulting in energy-efficient, healthier, and environmentally sustainable buildings.

“The Light Waterfront will have a major impact on the development of Penang. As a responsible and leading property developer, we want to encourage the incorporation of green technology that would be friendly to the environment which will in turn benefit our customers via cost savings on utilities,” said Teh Kean Ming, managing director, Jelutong Development.

Among the eco-friendly technologies in the project are wind-turbines, solar panels, a state-of-the-art water management system, green roofs and the use of recycled materials on selected areas as well as management and reduction of solid waste. Another unique “green” feature to the project is the harvesting of coral reefs in the waterway around the residential phase of the development.

Once completed, The Light Waterfront will also feature a seven-acre seafront park in Phase Three of the project for the enjoyment of its residents and visitors.


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Posted Date: July 23, 2008 12:00:00 AM
Sunrise celebrates 40 years of achievement

Sunrise Berhad celebrated its 40th Anniversary in style with a street party at Solaris Mont’ Kiara. Centred on the theme “Building Dreams, Creating Value”, the celebration was attended by several thousand guests comprising Sunrise residents, purchasers, business associates and partners, staff, public officials and the media. The event was also attended by Yang Berhormat Dato’ Seri Zulhasnan Rafique, Federal Territories Minister, and Yang Berbahagia Dato’ Haji Salleh Yusup, Chief Director of DBKL, who represented the Datuk Bandar of Kuala Lumpur.

A History Tunnel measuring 30 ft by 20 ft charted Sunrise’s remarkable journey from building light industrial units, shophouses and single-storey terrace houses in Klang to premium, high-end condominiums in Mont’ Kiara. Performers in psychedelic costumes, a live band, hawker stall buffet spread, pyrotechnics and fireworks lent a carnival feel to the event.

“Sunrise has come a long way to be where we are today. And this is made possible with the support, confidence and loyalty of our customers, staff and other stakeholders. We thank you all,” said Mr. Tong Kooi Ong, Chairman of Sunrise Berhad.

Turning 40 is an ideal time to celebrate 40 years of partnership between Sunrise and its community. In the Mont’Kiara vicinity, Sunrise not only provides housing and commercial spaces, but also builds a vibrant community. Solaris Mont’ Kiara is Sunrise’s second commercial development sited on six acres and comprising 79 shop lots and three blocks of office suites complemented by retail space.


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Posted Date: July 22, 2008 12:00:00 AM
Bolton eyes bigger Penang land bank

Property developer Bolton Bhd expects to spend RM200 million to increase the size of its land bank on Penang Island, giving a boost to its newly-launched maiden project, “Surin”, a RM130 million condominium development in Tanjung Bungah.

“We are currently evaluating acquisition opportunities in Penang and have seen three or four proposals,” said its executive chairman Dato’ Azman Yahaya. Bolton is looking at developing residential properties comprised of gated communities and high-rise developments, with a gross development value ranging between RM600 million and RM800 million.

With a development value of RM200 million, the Surin project sits on 1.4 ha of land and offers 390 luxury condominium units tagged from RM364,988 to RM1.2 million per unit. The project is scheduled for completion by 2011. Bolton executive director Chan Wong Kwong said 65% of the 198 units in the first tower have been sold prior to the official launch.


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Posted Date: July 22, 2008 12:00:00 AM
S P Setia beefs up commercial assets

S P Setia Bhd, Malaysia’s most valuable property developer, is planning to increase its commercial property portfolio from three per cent now to 20 to 30 per cent in two to three years, with plans to build its first retail mall for RM750 million.

Almost all of the group’s income now comes from residential property. “We want to move into commercial as the properties will give us higher value,” said group managing director Tan Sri Liew Kee Sin.

The four-level mall will be built within Setia City, the commercial hub of its flagship township Setia Alam in Shah Alam. Offering a gross floor area of 1.23 million sq ft, it is expected to be opened by 2011.

S P Setia subsidiary Bandar Setia Alam Sdn Bhd (BSA) will build it with Lend Lease Asian Retail Investment Fund 2 Ltd (ARIF) via an equally owned joint venture firm, Greenhill Resources Sdn Bhd. ARIF is a real estate fund advised by Lend Lease Investment Management Pte Ltd, which is part of Lend Lease Corp Ltd, an Australian property group.


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Posted Date: July 22, 2008 12:00:00 AM
LBS to diversify into industrial property

LBS Bina Group Bhd plans to diversify into industrial property development in Puchong to overcome a softer residential property market this year.

Group managing director Datuk Lim Hock San said demand was still intact for industrial properties and the Puchong project, with an initial gross development value of RM100mil, would take two years to complete. “We plan to launch 50 semi-detached factories in Puchong. It (each factory) would have a land area of about 7,500 sq ft and built-up area of 4,000 sq ft.”

The surge in raw material prices had affected construction costs. “We are lucky we did not launch so many projects,” Lim said, adding that LBS planned to sell some of its land and focus on the Klang Valley property projects on a small scale only. This year, LBS would continue to be cautious and had decided to hold back the commercial shops launch in Bandar Saujana Putra, which would be reviewed in one to two months.


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Posted Date: July 22, 2008 12:00:00 AM
Urban Hallmark Properties unveils Zephyr Point

Urban Hallmark Properties Sdn Bhd, a boutique property developer, has unveiled its first exclusive residential development, Zephyr Point on Basong, a gated and guarded community development located at Damansara Heights, Kuala Lumpur.

Scheduled for completion in mid-2009, Zephyr Point has been meticulously designed, with extensive use of premier brands in fittings and equipments, and top-quality finishing specifications, ensuring a classy and lasting build.

“With a mere seven units on 60,000 sq ft of land, we are building at a lower density than the standard bungalow density permitted by the local authorities. We are targeting the few discerning home-owners who desire privacy, picturesque views, security, spaciousness and exclusivity of the highest order,” said Dato’ Jeffrey Ng, Managing Director of Urban Hallmark Properties.

Zephyr Point’s residences, averaging 7,900 to 11,700 sq ft, perch nearly 60 feet above road level and has names such as Exo, Iono and Meso for the three Penthouses, and  Arcus, Cirrus, Pileus and Stratus for the four Villas.

Every unit at Zephyr Point enjoys a personal home office at the ‘Breezeway’ level, which also accommodates the residents’ function lounge and fully equipped gym overlooking the swimming pool terrace. A three-tiered security system, which includes a state-of-the-art CCTV as well as light motion and vibration sensors at external and internal locations, is part of the 24-hour surveillance system. Each penthouse also has a secure lock-up garage for three vehicles plus a separate large storage room in the basement.

Two show houses – a Penthouse unit and a Villa, will be ready for viewing in the first quarter of 2009.


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Posted Date: July 21, 2008 12:00:00 AM
51 Gurney - ‘First Ever Car Port in the Sky’

51 Gurney, a luxury condominium with the ‘First Ever Car Port in the Sky’, integrates a state-of-the-art car lift and driveway that allows residents to drive and showcase their cars within their own homes. The 68-unit development by Pan Global Services Sdn Bhd is developed by Zahari Holdings Sdn Bhd.

Situated 1.2 km from the Petronas Twin Towers, the units offer spacious living ranging from 3,000 to 5,000 sq ft. Driven by a five-star luxury living lifestyle, 51 Gurney offers 24-hour concierge service, contemporary interior as well as rooftop facilities such as elevated jogging track and an infinity design swimming pool with a stunning view. It also has alliances with MM2H, a customised motorsports Program.

A preview of 51 Gurney was held recently with exclusive gatherings for members of the Hong Kong Supercar Club and members of Ferrari and Lamborghini Car Clubs.

For more information, visit www.51gurney.com.


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Posted Date: July 21, 2008 12:00:00 AM
Iconic Lot 10 gets a facelift

Lot 10, a distinctive landmark along Kuala Lumpur’s famed “Bintang Walk”, will undergo a re-branding and re-positioning exercise by YTL Corporation, infusing the shopping centre with renewed energy and dynamism, thereby re-establishing it as an icon of urban lifestyle, shopping and entertainment.

“Being part of this dynamic entertainment hub for 18 years has helped Lot 10 become one of the most visited malls in the country. But 18 years is a long time without change and we think that the time has come for a little facelift,” said Tan Sri Dato’ (Dr.) Francis Yeoh, group managing director of YTL Corporation Berhad.

One of the enhancements is double-volume frontage, ensuring a wider, more impactful and panoramic façade of bright and eye-catching window displays for leading fashion and lifestyle brands.

World-famous architect and designer Yuhkichi Kawai of Super Potatoes in Japan, the master designer of the award-winning Feast Village at Starhill Gallery, will transform 70,000 sq ft of the mall’s rooftop into an urban chic hangout destination featuring concept restaurants and trendy bars, designer clubs and a spanking new California Fitness gym. Another new addition to the mall is Jackie Chan’s Café. The Isetan outlet at Lot 10, the first in Kuala Lumpur, will also upgrade its store.

To commemorate this milestone, Lot 10 hosted a 10-day celebration with a launch ceremony, a rooftop party and a road show featuring a variety of entertainment, fashion and dance shows, fitness demonstrations as well as beauty, hair and make-up events.


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Posted Date: July 10, 2008 12:00:00 AM
iProperty.com EXPO to showcase over RM10b worth of the best luxury properties

The hottest international high-end property from the country’s and the world’s top developers will be showcased at the iProperty.com Expo “The Luxury Collection” in Malaysia. Formerly known as the “International Home Buyer and Property Investor” exhibition, it will be held from 25 - 27 July, 2008 at the Kuala Lumpur Convention Centre (KLCC), Halls 4 and 5. This marks the first time the event is being organised by the iProperty.com Group, owner of Asia’s No. 1 network of property portals and Malaysia’s No. 1 property and real estate website, iProperty.com Malaysia (http://www.iproperty.com.my/).

The iProperty.com Expo ‘The Luxury Collection’ (www.iproperty.com/expo) will feature over 30 free seminars and dialogue sessions by industry experts and showcase more than RM10 billion worth of pre-launch, off-plan, en-bloc and under construction commercial and residential projects from award-winning international property developers from Singapore, Canada, Australia, Indonesia, United Arab Emirates and the United States as well as Malaysian developers who will be showcasing the largest collection of luxury property from all over Malaysia including Johor, Kuala Lumpur, Negeri Sembilan, Penang, Pahang and Kedah.

The Expo will be officially launched by Dato’ Seri Ong Ka Chuan, the Minister of Housing and Local Government Malaysia on Friday, July 25 at 11am.

For the first time ever, the Expo will also include a free iProperty.com Investment Forum which will provide an informative platform for those keen to invest in luxury property. The keynote address will be presented by Tan Sri Abdul Khalid Ibrahim, Selangor Menteri Besar (Chief Minister).

The Investment Forum will cover a wide variety of topics including the outlook for the Malaysian luxury property market, the secret to making intelligent investments and how to become a multi-millionaire real estate property investor. An expatriate knowledge empowerment session for foreigners will also be held for those who are looking to migrate to or purchase properties in Malaysia. “The Outlook of the Luxury Property Market in Malaysia” dialogue session, presented by Mr. Lai Voon Hon, President/CEO of IREKA Development Management Sdn Bhd, Mr. Sam C.S. Tan Executive Director of Ken Holdings Berhad and Mr. Previndran Dato’ Singhe Chief Executive Officer of Zerin Properties, will provide the opportunity to converse with the next generation leaders – The New Taipans.

Covering all areas of property purchase in the Peninsular as well as internationally, the Expo will repeat its success last year on providing a platform for visitors looking into investment in Australian properties, the taxation, financing issues of the same.

The Forum will also feature prominent speakers including Mohammad Ismail, chief executive officer of PropNex Realty Pte Ltd, Singapore’s largest real estate company and Dr. Dennis Wee. Dr. Dennis Wee is a household name in the Singapore real estate fraternity. His latest personal achievement is winning the Spirit of Enterprise Award in 2006, which honors successful entrepreneurs and inspires others to follow in their footsteps. Dr Wee also led his company to achieve the Singapore Promising Brand Award in 2002, Superbrands Award in 2003, and Singapore SME 500 Company Award in 2008.He has written 2 books titled 'Making Luck With Your Hands' and 'Get Rich Now', of which the latter was on the best-seller list at major bookshops.

At the “Super Forum”, ‘the star’ of the iProperty.Com Investment Forum, Dato’ Bill Ch’ng, Previndran Dato’ Singhe and Ho Chin Soon will present their views on the statistics of growth in the regions supported by Government initiatives such as Iskandar Malaysia, Klang Valley and Northern Economic Corridor Region. The forum is moderator Ong See Lian, the Chairman of RICS Asia Pacific (please refer to enclosed Annex for list of topics and speakers).

Patrick Grove, executive chairman of the iProperty.com Group said: “Luxury real estate in Malaysia and the region is undoubtedly still a hot commodity. Investors, who are still keen to cash in on the property market as a hedge against rising inflation, should definitely check out the iProperty.com EXPO “The Luxury Collection” for excellent investment opportunities.”

Grove added: “Since its inception in 2005, the Expo has attracted over 50,000 visitors from 62 countries and over 30 exhibitors from more than 20 countries. Building on this strong foundation, we are well on track to attracting more than 15,000 high net-worth individuals, expatriates and institutional buyers to this year’s event.”

In conjunction with the Expo, an online expo website, which will feature exhibitor and property details, photos of booths as well as video recordings of seminar and panel discussions, will also be launched to cater to those home buyers and investors who are unable to physically visit the exhibition. The website will also offer property developers an excellent opportunity to tap on iProperty.com’s vast regional network to cross-market their products and services to a wider audience and extend their product exposure from three days to 365 days. The online expo web site can be accessed via the iProperty.com network available in Singapore, Malaysia, Philippines and Hong Kong from 25 July 2008 onwards.

In a bid to expand its regional reach, the iProperty.com Expo will be held in Singapore at the Suntec Singapore International Convention and Exhibition Centre from 21-28 November, 2008.

For more information on the iProperty.com Expo “The Luxury Collection” or to register for any of the talks and forums, please visit www.iproperty.com/expo, email expo@iproperty.com or call +603-2297 0810.

* * *

About iProperty.com Malaysia (www.iproperty.com.my)
iProperty.com Malaysia is the country’s No.1 property and real estate website in all key metrics (confirmed by: ComScore, Frost & Sullivan and Alexa.com). More than half of The Edge’s top 10 developers and one third of The Edge’s top 30 developers are iProperty.com’s regular clients, including SP Setia, Tan & Tan, Sunway City, Sime Darby, Mah Sing, MK Land and Glomac.

About iProperty.com (www.iproperty.com)
iProperty.com (http://www.iproperty.com/) is Asia’s No.1 online property group, with leading property websites in Malaysia, Singapore, Hong Kong and Philippines. We are part of Australian Securities Exchange-listed IPGA Limited (http://www.ipgalimited.com/). Recently, the iProperty.com Group made history by winning the highly prestigious CNBC Asia Pacific Property Awards in the “Best Property Portal” category for 4 of our websites Malaysia (http://www.iproperty.com.my/), Singapore (http://www.iproperty.com.sg/), Hong Kong (http://www.gohome.com.hk/) and Philippines (http://www.iproperty.com.ph/). iProperty.com is owned by Australian Stock Exchange-listed IPGA Limited (http://www.ipgalimited.com/), (ASX: IPP).

iProperty.com Network:
Singapore: iProperty.com Singapore (http://www.iproperty.com.sg/)
Malaysia: iProperty.com Malaysia (http://www.iproperty.com.my/)
Hong Kong: GoHome.com.hk (http://www.gohome.com.hk/) and House18.com
 (http://www.house18.com/)

Philippines: iProperty.com Philippines (http://www.iproperty.com.ph/)
Events: iProperty.com EXPO (www.iproperty.com/expo)
Luxury: iLuxuryasia.com (http://www.iluxuryasia.com/)


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Posted Date: May 29, 2008 12:00:00 AM
Black & Decker hardware and home improvement business showcases revolutionary new products

Black & Decker® HHI featured a new series of revolutionary Security Hardware and Plumbing product suites working in conjunction with Equip-Design & Supply Sdn Bhd, at the 2008 International Innovation & Partnership Event Global Tour.  A wide array of options for residential and commercial building projects and major remodeling jobs were presented and demonstrated at the event.

Jerry Manko, vice president and general manager of Black & Decker’s International Hardware and Home Improvement business presented the event together with Steve C. Stephens, director of International Marketing, Black & Decker International Hardware and Home Improvement business. 

“As we spoke with our distributor partners throughout the world, we realised that we needed some events where industry leaders and influencers could not only see and hear about the products – but to actually touch, interact and experience them for themselves,” said Jerry Manko.


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Posted Date: May 29, 2008 12:00:00 AM
Standard Chartered Bank revolutionises consumer lending With new financing rate

Standard Chartered Bank Malaysia Berhad is introducing two new financing rates structures - MortgageKLIBOR and OptiOverdraft, where a mortgage and standby credit facility are pegged to the three-month Kuala Lumpur Inter-bank Offered Rate*.

By pegging to the real inter-bank rate, rather than at the discretion of the industry, consumers get a clear, transparent view of interest rates. Francis Loh, General Manager of Consumer Lending, Standard Chartered Bank Malaysia Berhad said: “With our new financial solutions, we are cutting through the confusion by taking the guess work out of interest rates.”

The key features of MortgageKLIBOR and OptiOverdraft are greater saving in financing rates, higher margin in financing, rate protection and transparency.

*KLIBOR rates are derived from the activities of borrowing and lending of funds between banks.


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Posted Date: May 28, 2008 12:00:00 AM
Milan Doshi shares tips on how to become a millionaire property and stock investor

In a programme titled “How You can be a Millionaire Property & Stock Investor … right here in Malaysia”, Milan Doshi, Independent Financial Trainer and Best-Selling Author of  “How You Can Become a Multi-Millionaire Real Estate Investor!” and “How You Can Get RICH from the Property and Stock Markets”, will be sharing tips and insights on how to improve one’s financial and investment skills and develop a Millionaire Mindset.

This three-day seminar is a “must-attend” for those who want to discover the right property and stock investment strategies to suit their unique investment profiles, learn how to deal with bankers, property negotiators, sellers, tenants, understand little known legal “short-cuts” and tax issues in property investments.

The venue for the seminar is Federal Hotel, Jalan Bukit Bintang, Kuala Lumpur from 9 am to 8 pm, Friday to Sunday, 27 to 29 June 2008.

There will also be a three-hour “mini” workshop on the same theme, to be held at the same venue on 7 June and 14 June 2008, from 3 pm to 6 pm and tickets are priced at RM198/pax.

iProperty.com subscribers can enjoy a special discount on these two events. Discounted prices for the three-day seminar are RM3,880/pax (normal price: RM 4,880/pax) and RM2,880/spouse; the “mini” workshop is RM98/pax. Only limited seats available. For further details and to purchase tickets, please call 019-227 7645 (Michael); email: arc888@gmail.com or visit: http://www.milandoshi.com/workshops.htm.


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Posted Date: May 27, 2008 12:00:00 AM
Sumo has arrived With Space U8

Mainstay Development Sdn Bhd today unveiled its flagship development in the premium address of Section U8, Bukit Jelutong. Space U8 is the first development of its kind in Selangor to adopt the SUMO concept - Shop Unit, Mall Office.

Space U8 was officially launched at a ceremony attended by Yang Bhg. Datuk Bandar Shah Alam Tuan Haji Mazalan B. Md. Noor. He also witnessed the signing of an agreement between YM Raja Mohd Azmi Raja Razali, chairman of Mainstay Development Sdn Bhd and YBhg. Datuk Kamaruzaman Che Mat, managing director of Bank Kerjasama Rakyat Malaysia Berhad.

Raja Azmi said, “We are confident that SUMO concept in Space U8 will be a huge success attracting a wide range of investors. We also appreciate the vote of confidence from YBhg. Datuk Kamaruzaman Che Mat and his team at Bank Rakyat, as Space U8 is our first property venture.”

The project, which is scheduled for completion in December 2009, has a gross development value of RM220 million, including an anchor tenant building with a total of 84,000 sq ft spreading over four floors. Mainstay and Bank Rakyat have arranged for up to 80 per cent financing for the retail and office units and other attractive financial packages with special rates and easy approvals.


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Posted Date: May 26, 2008 12:00:00 AM
Groundbreaking ceremony marks commencement of construction for Casa Idaman Condominium

A groundbreaking ceremony was held to mark the official commencement of construction for Casa Idaman Condominium in Jalan Ipoh, Kuala Lumpur recently. YB Dato’ Hamzah Bin Zainudin, Deputy Minister of Housing and Local Government, Datuk Jafaar Bin Abu Bakar, chairman of Billion Horizon Sdn Bhd and Dato’ Tan Chew Piau, executive chairman of C P Group participated in the groundbreaking ceremony at the site of the Casa Idaman Condominium.

Developed by Billion Horizon Sdn Bhd, a joint venture company between C P (S.E.A.) Sdn Bhd and Damakmur (M) Sdn Bhd, Casa Idaman Condominium comprised two-block of 18 stories, 608 units of three-room and four-room condominium, with built-up ranging from 1,007 sq.ft. to 1,181 sq.ft. and are priced from RM152,000 to RM252,494. The gross development value of this construction project is estimated at RM135 million and it is expected to be completed by end of 2010.

YB Dato’ Hamzah Bin Zainudin commended Billion Horizon for building affordable and quality housing, in line with the government’s policy that everyone can be a homeowner. A lucky draw promotional campaign was launched to reward purchasers from 24 May to 24 June 08, with more than RM10,000 worth of electrical home appliances to be given away as prizes.


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Posted Date: May 21, 2008 12:00:00 AM
Swiss-Garden International to manage serviced residences in Jalan Galloway, Kuala Lumpur

Swiss-Garden International Hotels, Resorts & Inns have signed an agreement to manage the Swiss-Garden Residences that is being developed by Superville Sdn Bhd, a fully owned subsidiary of PJ Development Holdings Berhad.

Swiss-Garden International will also provide technical consultation on the development, design as well as develop marketing and branding strategies for the residences. The signing ceremony was witnessed by Mohamed Zain Bin Mohamed Yusoff, chairman of PJ Development Holdings Berhad and Andrew Wong, president of the Swiss-Garden international group of hotels.

The Swiss-Garden Residences, slated to be completed by 2011, is located in Jalan Galloway, a five minutes’ walk from the vibrant Bukit Bintang. Standing tall at two towers with 33 and 37 stories each, it comprises 478 units of apartments ranging from 550 sq.ft. to 2700 sq.ft with sporting facilities and community area on the sixth floor.

Swiss-Garden Residences also enables investors to purchase the signature apartments and receive an annual guaranteed return of seven per cent per annum for five years with a renewal option of seven per cent per annum gross yield for the next five extra years.


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Posted Date: May 21, 2008 12:00:00 AM
iProperty.com EXPO ‘The Luxury Collection’ expected to attract 15,000 high net-worth individuals

iProperty.com EXPO ‘The Luxury Collection’ (www.iproperty.com/expo), formerly known as “International Home Buyer and Property Investor” exhibition, will be held at Kuala Lumpur Convention Centre (KLCC), Halls 4 and 5, from July 25 to 27, 2008. This will be the first time the event is being organised by the iProperty.com Group, Asia’s leading network of property portals, following its acquisition of Keagen Group Sdn Bhd in March this year. The iProperty.com Group also owns and operates Malaysia’s No. 1 property and real estate website, iProperty.com Malaysia (www.iproperty.com.my); and Malaysia’s No. 1 property magazine, iProperty.com.my.

The three-day event is expected to attract more than 15,000 affluent home buyers from local and international markets. Over the past four years, the event has seen thousands of high net-worth individuals, expatriates and institutional buyers. An impressive list of high-quality award-winning exhibitors have confirmed their participation in this year’s show, including top Malaysian developers such as S P Setia, IJM, MK Land, Bolton, Putrajaya Holdings, Sunway City, TH Properties, TTDI Development and Malaysia Pacific Corporation Berhad.

Patrick Grove, executive chairman of the iProperty.com Group said, “Keagen Group Sdn Bhd has done a great job building the reputation of the exhibition series over the past four years. Hence, what we are essentially doing this year is taking an already strong foundation and building on its success.”

Over the years, visitors attending the International Home Buyer and Property Investor exhibitions have been mainly serious home buyers and investors from over 62 countries who had budgets of at least RM1million. Most of them also held top management positions and earned an annual income of at least RM150,000 making them perfect candidates for high-end property purchases.

Launch of Asia’s First Online Expo:
This year’s show will also see the launch of an online expo website which will feature exhibitor and property details, photos of booths as well as video recordings of seminar and panel discussions, catering to those home buyers and investors who are unable to physically make it to the expo. The website will also offer property developers an excellent opportunity to tap on iProperty.com’s vast regional network to cross-market their products and services to a wider audience and extend their product exposure from three days to 365 days. The online expo website can be accessed via the iProperty.com network available in Singapore, Malaysia, Philippines and Hong Kong from 25 July 2008.

Grove continued, “What we are looking to do this year is to add exciting new elements to the exhibition. Not only are we organising special dialogue sessions with award-winning property developers, the launch of Asia’s first online expo website will also complement the iProperty.com EXPO as well as our existing iProperty.com network of property portals.”

Aside from catering to visitors, the iProperty.com EXPO will also differentiate itself by being the only property exhibition in Malaysia to implement activities ensuring exhibitors reap maximum benefits. This includes producing Show Directories, visitor reports as well as conducting visitor registration to allow exhibitors to carry out post-expo marketing. Exhibitors can also refer to the online expo website for valuable leads and follow up with them even after the iProperty.com EXPO has ended.

More than RM200 million worth of property was transacted during the iProperty.com EXPO in Hong Kong, which took place at the Hong Kong Convention & Exhibition Centre from 15 to 16 March 2008. The event will be held in Singapore at the Suntec Singapore International Convention and Exhibition Centre, from 21 to 23 November this year.
 


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Posted Date: May 13, 2008 12:00:00 AM
iProperty.com wins highly prestigious “Best Property Portal” at CNBC Asia Pacific Property Awards

Malaysia’s No. 1 property website, iProperty.com Malaysia (www.iproperty.com.my), has emerged victorious at the coveted CNBC Asia Pacific Property Awards 2008, garnering the award for the country’s “Best Property Portal”. Other property portals within the extensive iProperty.com network, including Singapore (www.iproperty.com.sg), Hong Kong (www.gohome.com.hk) and the Philippines (www.iproperty.com.ph), also clinched the same award in their respective markets. This is a historical achievement as iProperty.com is the first company to have ever won an award in four countries for the same category at the International Property Awards.

The CNBC Asia Pacific Property Awards is part of the International Property Awards, which began in 1995 in London, and has since established itself as the premier annual programme that distinguishes Asia Pacific companies with the highest levels of achievement in a range of property-related fields in 21 categories. Winners are usually identified as companies and individuals who are raising the standards by providing excellent skills and services and continually reaching new heights in quality and innovation.

Entries were judged by a panel of professionals whose collective knowledge of the property industry is second to none and unsurpassed by any other property awards. Chaired by Eric Pickles, British Shadow Secretary of State, this year’s judges included Helen Shield, editor-in-chief of International Homes magazine; Peter Bolton King, chief executive of the National Association of Estate Agents; Phil Spencer, property expert and presenter of Channel 4’s Location and Relocation TV shows; Imtiaz Farookhi, chief executive of the National House Building Council; Christopher Hall, past president National Association of Estate Agents; Wilhelm Harnish, Master Builders of Australia (MBA); Thijis Staff, International Consortium of Real Estate Agents Association (ICREA); Santiago Herreros de Tejada, SIMA; Kirkor Ajderhanyan, French Real Estate Federation (FNAIM); Graham Norwood of the Daily Mail; David Hoppit, property writer; Paul Wyatt, head of design for LYCOS UK; Geoff Cohen, design director at Aukett Fitzroy Robinsonarchitects; Jill Keene, editor of International Homes magazine; Diana Yakely, chairman British Interior Design Association; and Tad Zurlinden, Association of Relocation Professionals.

Patrick Grove, executive chairman of the iProperty.com Group said: “iProperty.com has made history as this is the first time a single company has won this highly prestigious award in four countries, for the same category. This is truly a great achievement for our Malaysian website and the iProperty.com network as a whole. In Malaysia, we are already the clear market leader in the online property space, with over 35,000 quality property listings by over 1,500 accredited real estate agents; and the country’s top developers. The fact that we have won the “Best Property Portal” award in every single market we operate in is clear testimony that the iProperty.com network can not only compete but also triumph within the highly competitive Asia Pacific online property arena. This prestigious win definitely reinforces our position in Malaysia and the region as Asia’s leading online property group.”


For the first time this year, the CNBC Asia Property Awards will be presented at a glittering gala dinner to be held at the Marina Mandarin Hotel in Singapore on 20 July, 2008.


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Posted Date: May 08, 2008 12:00:00 AM
UOA Group sells 3 boutique office towers in Bangsar South City

UOA Group, through its wholly owned subsidiary Paramount Properties Sdn Bhd, has recently sold three boutique office towers in its latest flagship development called Bangsar South. The towers were sold to Bangga Istimewa Sdn Bhd and Bidang Lagenda Sdn Bhd - companies set up by Al Batha Group, for RM131, 348,880.

Bangsar South City, a 60-acre mixed development just off Federal Highway and New Pantai Expressway is planned as the new vibrant city located between KL, PJ and Bangsar, the golden triangle of real estate in the country. This mixed development with a projected gross development value (GDV) of approximately RM3.5 billion will take between six to 10 years to develop. It will comprise of residential, commercial components including hotel and service apartments and retail units. It models itself after cosmopolitan townships in other countries, integrating modern facilities, unique facades, elegant offices, contemporary and chic residences.

Bangsar South is divided into three main zones namely The Village – an ultra modern looking building that encompasses UOA’s Property Gallery and some retail outlets. This building is already completed and the Property Gallery is now open for customers to register their interest in upcoming product launches. The 30-acre residential precinct called Park Residences comprising the latest in modern contemporary condominiums. UOA intends to introduce two condominium blocks to the market very soon with residential unit sizes between 1,300 sq ft and 2,100 sq. ft. The show units are ready for viewing. UOA Group is also planning to create a centralised clubhouse with modern facilities & amenities to serve the Bangsar South City community.

The 30 acres commercial precinct will comprise of three main components. The Horizon, unique 10 & 11 storey boutique office towers to be sold on en-bloc basis whereby individual owners will have the advantage of having naming rights to the building. Each office tower has an average gross area of approximately 54,000 sq ft with the penthouse level fitted in with a feature pool. Construction works has already started on site and Phase 1 is expected to be completed before the end of 2009. The Vertical, 10 blocks of 20-storey office towers and The Sphere, the retail complex to serve the overall development would include F&B outlets and other supporting amenities.


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Posted Date: May 07, 2008 12:00:00 AM
TEMPO Properties embarks on a re-branding exercise

TEMPO Properties Sdn Bhd (TEMPO) launched its new logo and tagline - TEMPO, “Ideas at Work” today in a move to re-brand itself as a young, dynamic and creative company.

Since its establishment in 1995, TEMPO has built a solid reputation as a developer which completes projects ahead of schedule and fully sold.  In 1997, Tempo Properties launched its maiden flagship project known as Taman Cengal Utama in Seremban which was successfully sold out. In 2000, Tempo Properties extended its market base to the Klang Valley through a residential development in Seri Kembangan, Selangor. The project is known as Prima Tropika. Prima Tropika was launched in March 2004 with a take-up rate of 90% based on phases launched.

At the end of 2005, TEMPO launched a development project comprising three-storey shop offices in Seremban Central Business District known as Medan Suria. Phase 1 was completed in Dec 2007 and has been sold out since. Phase 2 will be launched at the end of 2008.

According to real estate services company CH Williams Talhar & Wong, Malaysia particularly the Klang Valley, in line with markets elsewhere, will see yields of less than 6% this year, compared with between 6.25% and 7% now. The Government is also introducing policies aimed at boosting the country’s property market.


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Posted Date: May 06, 2008 12:00:00 AM
UEM Land and Singapore speed up talks on Iskandar projects

Singapore real estate firms and UEM Land Sdn Bhd are in talks about joint projects in a US$105 billion (approximately RM332 billion) industrial and tourism zone in Johor. A blueprint to transform south Johor into a regional economic zone for industry, logistics, trade and leisure was revealed by Malaysia in 2006.

UEM Land managing director Wan Abdullah Wan Ibrahim said in an interview that the involvement of Singapore firms will boost investor confidence in the Iskandar Malaysia project which is just a few minutes away from the Causeway.


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Posted Date: May 06, 2008 12:00:00 AM
Papillion builds prestigious RM180m residence in Taman Desa

Peter’s Holdings has unveiled plans to build a prestigious landmark, within the Taman Desa enclave. Named Papillion Desahill Condominium, the project will comprise 225 units of exclusive homes.

Sitting on 4.5 acres of one of the last few parcels of land in Taman Desa, the luxurious condominium will be priced from approximately RM400 per sq. ft. Papillon Desahill is a low density freehold condominium project with two wings of 15 storeys each, and will be completed by 2011.

This project will benefit from the collaboration between the developer and CIMB-Mapletree Real Estate Fund 1 (CMREF 1), a private real estate fund managed by CIMB-Mapletree Management Sdn Bhd.

At the media preview of Papillon Desahill Condominium, the synergistic partnership with CMREF 1 was announced by Peter Loke Kwok Seong, managing director of Peter’s Holdings Sdn. Bhd. in the presence of Raja Noorma Othman, chief executive officer, CIMB-Mapletree Management Sdn Bhd and Muhyiddin Razak, chief investment officer of CIMB-Mapletree Management Sdn Bhd.

Peter Loke said, “We are very optimistic about Papillon Desahill Condominium as the location as well as the concept we envisaged will garner good capital appreciation values. Over and above this, we have created an opportunity for our target audience, especially the young affluent purchasers and investors to be privileged home owners in this exclusive enclave.  We have been receiving encouraging response since its soft launch early this month.”

“Furthermore, with CIMB-Mapletree coming on board, we are confident that it will further strengthen our position in the property sector as we move towards creating a niche in medium high projects in matured addresses such as Taman Desa, which is well connected and has the infrastructure and amenities in place,” added Loke.

Papillon Desahill Condominium is centrally located with easy access to Petaling Jaya and Kuala Lumpur through the New Pantai Expressway, Federal Highway, KLIA – Putrajaya Highway and new Smart Tunnel.  Furthermore, it is close to Sri Hartamas, Bangsar and Mid Valley Mega Mall.

Raja Noorma Othman commented: “We see value in this project, which is on a freehold site located within a maturing residential neighborhood with easy access to KL City Centre.”

“This arrangement offers opportunities for both parties to contribute towards developing a quality product for our stakeholders and customers of Papillon,” concluded Raja Noorma.

Papillon Desahill Condominium, which is available in four designs, provides discerning purchasers a choice of homes with built up areas from 1,312 sq.ft to 2,059 sq.ft and prices ranging from RM480,000 to RM800,000 each. The highest units are the 16 penthouse duplexes with built up areas of 2,498 sq.ft to 3,661 sq. ft. which are offered at between RM1.1 million to RM1.6 million each. 

Some of the features in Papillon Desahill Condominium are an infinity pool, Tai Chi Garden, jacuzzi pool, barbeque area, gymnasium, sun deck, children’s play area and multi-purpose court.

The Taman Desa area has reputed schools, a water theme park, a medical centre, commercial centres, community centres, established eateries, and other amenities, is a viable address that establishes itself as a prime location for potential home owners and is expected to attract more residents.

Papillon Desahill Condominium will be developed by Zeus-TNB Properties Sdn Bhd., an affiliate of Peter’s Holdings Sdn Bhd and solely managed by Peter’s Holdings.


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Posted Date: May 06, 2008 12:00:00 AM
iProperty.com reinforces aggressive regional growth plans with two senior management hires

The iProperty.com Group (www.iproperty.com), Asia’s leading network of property portals and owner of Malaysia’s No.1 property and real estate website, has strengthened its bid for regional domination with two senior appointments - Sherry Wong as general manager of its Hong Kong operations – the GoHome.com.hk network; and Shen Loh-Lim as group head of product.

In her new role as general manager of GoHome.com.hk, Sherry will be responsible for iProperty.com’s Hong Kong business which includes the SAR’s No. 1 property portal, GoHome.com.hk, as well as a leading home services portal - House18.com. Prior to joining iProperty.com, Sherry spent eight years at digital and interactive communications agency Digitas Greater China, formerly Communications Central Group (CCG). As senior vice president, general manager at Digitas, Sherry was responsible for operations, finance and marketing communications. Prior to this role, Sherry was the general manager of Hong Kong’s Lemon (Asia) Limited.

Shen joins iProperty.com as group head of product, in charge of strategising, planning and rolling out products and services across the region. His key responsibilities will include enhancing user experiences and improving the efficiency of online property searches through the development of innovative products, as well as providing effective marketing platforms for property developers and agents. Shen was previously project director at leading interactive agency, XM Malaysia. During his five-year tenure there, he worked on prominent global accounts including Toyota, Citibank, Sony and GlaxoSmithKline.
 
Patrick Grove, executive chairman of iProperty.com Group said: “Both Sherry and Shen bring a wealth of experience to the Group and I am confident that their skills sets will play an instrumental role in consolidating our market leading positions in each country and helping us achieve our goal of regional dominance.”

“The whole Group is going through exciting times. Within the past year, we have listed on the Australian Securities Exchange, formed alliances with the Singapore Institute of Estate Agents, bought over Hong Kong’s No. 1 property network www.GoHome.com.hk and recently acquired Keagen Sdn Bhd, the owner and organiser of Asia’s leading series of exhibitions. There are definitely even more exciting new developments in the pipeline so I am truly excited to have both Sherry and Shen join and contribute to the iProperty.com family,” he added.

Both Sherry and Shen report directly to the chief executive officer of the iProperty.com Group, Ken Tsurumaru.


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Posted Date: May 06, 2008 12:00:00 AM
UOL’s condo project sees 60% take-up rate

Panorama, the RM300million freehold luxurious condominium project by Singapore-based property development and hotel group, UOL Group Ltd, scheduled for completion in 2011, has recorded a 60% take-up rate since its launch a month ago.

A joint venture with property and construction firm General Corp Sdn Bhd, Panorama is located on a 1.13-acre site along Persiaran Hampshire near the Petronas Twin Towers. It comprises of two 33-storey towers with a total of 223 units.

Priced from RM750,000 to RM2.37million, units come in one to three bedroom combinations and built-up areas from 592 sq ft to 1,819 sq ft.

Investing in Malaysia was a natural choice, since they already own Parkroyal KL Hotel, Parkroyal Penang Hotel and the 30-storey south tower of One Residency at Jalan Raja Chulan, according to UOL group president and chief executive officer Gwee Lian Kheng.

He also said that Kuala Lumpur’s buoyant property scene was rapidly gaining attention among the global community, clearly seen by the rise in luxury developments in the city centre.

Gwee added, “With UOL’s branding and track record, we expect Panorama will be well received by foreign buyers and funds.”

RM172.14million freehold land spanning 3.95 acres along Jalan Conlay has also been acquired by UOL together with General Corp, where they plan to develop a 38-storey luxury condominium.


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Posted Date: May 06, 2008 12:00:00 AM
Tune Group ventures into retail with Harbour Place

The TUNE GROUP is set for TUNE Properties’ first project in a venture into the retail space with its involvement in Harbour Place in Klang. A development by Chestar Properties Sdn Bhd, Harbour Place comprises a shopping mall and office suite tower with a gross development value of RM420 million and is set to open in the fourth quarter of this year.

In line with the TUNE Group’s business philosophy that is to “serve the underserved”, Datuk Tony Fernandes, founder of TUNE Group, says that Harbour Place will reach out to the ripe yet sorely under-retailed market of Klang and its surroundings, which currently has a population of more than 1.2 million. He shares that with the new low cost carrier terminal just half an hour away from Klang, there are plans to shuttle transit travellers to Harbour Place, or even arrange for day tours for tourists making stopovers.

Kenny Chin, general manager of Chestar Properties says that TUNE’s endeavours with Harbour Place as a gazetted tourist destination by the Ministry of Tourism, will boost the development of Klang. “TUNE’s interest and association with Harbour Place further validates Chestar Properties’ efforts to bring about an iconic landmark in Klang.”

Datuk Kamarudin Meranun, the other founder of TUNE Group, holds 63 per cent of Chestar Properties Sdn. Bhd.


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Posted Date: May 05, 2008 12:00:00 AM
Mah Sing expects four projects to contribute RM2.5b in revenue

RM2.45 billion in gross development value (GDV) is expected to be generated by Mah Sing Group Bhd’s property development projects in Johor and Penang. RM1.15 billion would be coming from three projects in Johor while the remaining RM1.3billion from one project in Penang, according to chief operating officer Ng Heng Phai.

Sierra Perdana, Sri Pulai Perdana I and Sri Pulai Perdana II make up the Johor projects while Southbay is the Penang Project.

At the recent Treasure Blitz grand draw ceremony, Ng said that the Johor and Penang projects will keep them occupied for the next three to five years. A retired teacher from Meru, Selangor, won an RM88,000 office suite in Austin Perdana. A RM800,000 bungalow in Kemuning Residence, Shah Alam is up for grabs at the upcoming premier event. The company had given away prizes worth RM900,000 over a few months, Ng said. RM2million has been spent for the campaign, which is open to buyers of its 14 projects nationwide.

Mah Sing would be launching Sri Pulai Perdana II before the end of the year while Southbay was soft-launched recently. Southbay would have 288 link houses priced above RM755,000, three and four storey bungalows going for more than RM2.5million each, retail shops, three to five-star hotels, serviced apartments and a retail mall.

Mah Sing was optimistic about the Johor property market as all its ongoing projects were located within Iskandar Malaysia. The group currently has a total landbank of 323.73hectares nationwide and is looking to add on to the total.


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Posted Date: May 05, 2008 12:00:00 AM
REHDA’S MAPEX 2008 targets RM100m in sales

The Real Estate and Housing Developers Association (Rehda) Johor hopes to garner RM100 million in sales from the state-level Malaysia Property Expo (MAPEX) 2008.

The association recorded sales of RM150 million in a four-day property expo last November, in which 40 developers took part, according to branch chairman Steven Shum. He also said that the main objective of the last event was to create awareness among potential house buyers of the best time to invest.


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Posted Date: May 05, 2008 12:00:00 AM
Emkay purchasing land in Cyberjaya

The Emkay Group of Companies will be spending RM142.9 billion for its second phase of commercial property development in Cyberjaya. The group has identified various areas to construct buildings for the IT industry, according to group chairman Tan Sri Mustapha Kamal Abu Bakar.

According to the company, it has bought RM72.3 million worth of land for the first phase of their development there, which has resulted in gross development value of RM725 million.

The first phase of development consists of four main commercial property projects – the NeoCyber, MKN Embassy Techzone, the Mustapha Kamal building and the Lucky Cottage. NeoCyber’s intial phase, consisting of shop lots, had been fully taken up and the second phase was 90% sold. The NeoCyber third and fourth phases are scheduled to start early next year and are expected to finish by 2010.


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Posted Date: May 04, 2008 12:00:00 AM
Petaling Tin to develop luxury villas and boutique hotel worth RM1b

Luxury villas and a boutique hotel worth RM1 billion are being planned by property developer Petaling Tin Bhd. The proposed project site is located on the Karambunai Peninsular, some 30km east of Kota Kinabalu in Sabah.

The company deems its largest asset - 524ha of land in Karambunai, now ready for development. The land was acquired for around RM190 million in 1998. The first phase of the development will be launched this year.

Chief executive officer Leong Choong Wah said, “The villas, with large build-ups, will be an international product and we are targeting foreign buyers. Karambunai Corp Berhad (KCB) is building Nexus Residences Karambunai within close proximity and it will certainly boost sales and prices of new products here.”

RM100 million worth of properties in Taman Desa Bukit Indah and Taman Kelab Ukay is set to be launched by Petaling Tin, where it holds 81ha and 11ha respectively. The company also hopes to launch 126 units of terrace houses in Sungai Buloh worth RM26 million by the third quarter of 2008.

According to Leong, after getting the state government’s approval, RM66 million worth of new properties will be launched in Taman Kelab Ukay. He added that the strategy is to unlock value for a profit margin to build a new corporate office on a 0.83hectare site in Section 19, PJ.

Petaling Tin aims to redevelop the existing four-storey office block into a high-rise Grade-A commercial office tower with minimal retail lots for more than RM100 million, while leasing half the units for investment. This plan is pending the decision by the local authorities to rezone Section 19 and Selangor state government’s new guidelines.


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Posted Date: May 04, 2008 12:00:00 AM
US$2.6b resort to be built by BLand-South Korean JV

A US$2.6 billion (RM8.2 billion) resort-style and commercial complex is in the works by the joint venture of Berjaya Land Bhd (BLand) and South Korea’s Jeju Free International City Development Centre (JDC). The complex in Jeju province will incorporate a full-fledged casino.

According to BLand, its unit, Berjaya Leisure (Cayman) Ltd (BCayman), had signed an agreement to set up the joint venture, Berjaya Jeju Resort Ltd (Berjaya Jeju).

Over eight to 10 years, Berjaya Jeju will be the master developer for the 74.37ha site in Yerae-dong, Seogwipo-si, Jeju province. The development would see 200 villas, 600 mid-rise apartments, a 500-room resort hotel and serviced residencies, an indoor arena, a medical centre and spa resort, a 500-room casino and a cultural village among other facilities.

The company said that the casino will be constructed in the early phase of the project as it is an integral part of it. The project is estimated to have a gross development value of US$3.6 billion, subject to finalisation of the business plan, BLand said.

BCayman will subscribe to 81% of the initial paid-in share capital of Berjaya Jeju, valued at not less than US$30 million, with JDC subscribing the remaining 19%.

Berjaya Jeju would then enter a sale and purchase agreement to acquire the land from JDC for 72.1 billion won (US$73 million).

JDC will then contribute US$45 million for infrastructures on the site after the land acquisition.

The JV will bolster the tourism industry by developing high-end tourism products targeting Asia and the Middle East as well as South Korea by utilising Berjaya Groups global marketing network, said JDC in a separate statement.

It is also said that the resort-style residential complex will make a 774.1 billion won (US$772.83 million) contribution to the Jeju economy while creating 6,300 jobs.


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Posted Date: May 04, 2008 12:00:00 AM
Bandar Enstek show village launched by TH Properties

Several show houses for Tabung Haji’s property arm, TH Properties Sdn Bhd, were launched. Bandar Enstek in Nilai, Negeri Sembilan is its flagship property project, worth RM9.2 billion.

The show village, spanning 2.8ha of land, is aimed at attracting prospective home owners and investors, comprises seven designs and seven interior décor themes.

Datuk Azizan Abdul Rahman, TH Properties chairman, said the show village is an exclusive concept, the first in local property development history.

The third phase of the development, timur@enstek, featuring 12,400 residential units of link homes, town villas, apartments, link bungalows and bungalows was also launched. Single storey and one-and-a-half storey link homes and single-storey bungalows will be the first phase of timur@enstek, with prices ranging from RM166,300 to RM977,519.

Ten minutes away from the Kuala Lumpur International Airport, Bandar Enstek is scheduled for completion in 2025. The launch was officiated by Minister in the Prime Minister’s Department, Datuk Ahmad Zahid Hamidi, who commended TH Properties for developing a project that will be an attractive global destination for foreign investors especially those involved in education and human capital development.

Ahmad Zahid also said, “One of the major components of Bandar Enstek is techpark@enstek for biotechnology clusters, edupark@enstek which has attracted investments of over RM2 billion and medicalcity@enstek, a RM1.7 billion project.”


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Posted Date: May 03, 2008 12:00:00 AM
PJ commercial building acquired by Hong Leong Assurance

A six-storey commercial building has been acquired by Hong Leong Assurance Sdn Bhd (HLA) for RM75.698 million from PJ City Development Sdn Bhd.

According to Hong Leong Financial Group Bhd, HLA’s parent company, the commercial building will sit on 16.6 acres of leasehold land in Petaling Jaya. It is targeted to be fully completed by the first quarter of 2009.


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Posted Date: May 03, 2008 12:00:00 AM
KL Sentral to have lifestyle centres

Two retail-cum-lifestyle centres, providing close to 1 million sq ft of net lettable space, will be available in KL Sentral. The 100,000 sq ft Sooka Sentral Lifestyle Centre, opened last December, is the first out of the two and is now fully occupied.

The RM 50 million lifestyle centre would provide wellness, health, beauty and dining facilities for residents and office workers in KL Sentral and its surrounding areas, according to Sooka Sentral Sdn Bhd general manager Zulkefli Ibrahim.

He said Sooka expects to generate an annual income of RM8.4million with rental rates ranging from RM8 to RM20 per sq ft during a media tour of the new facility.

The second project, a 750,000 sq. ft. shopping centre, is to be built for RM420million on Lot G. Targeted time for completion is 2011 and construction will begin mid-year. This shopping centre is expected to generate RM60million of annual rental income.

Development of KL Sentral started in 1997 and is expected to be completed by 2015.


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Posted Date: May 02, 2008 12:00:00 AM
Hijauan Kiara raises the bar of luxury living in Mont' Kiara

Hijauan Kiara heralds a new dimension of exclusive living in Kuala Lumpur’s upmarket suburb of Mont’Kiara with the introduction of private lift lobbies.

Since its soft launch in 2005, Hijauan Kiara’s developer, Bukit Kiara Properties Sdn Bhd (BKP) has tirelessly and innovatively transformed this luxurious condominium into an exclusive enclave with a unique aura of privacy.

N.K. Tong, BKP’s group managing director, said that providing privacy to homeowners was the main reason behind the private lift lobbies.

With only 188 units, Hijauan Kiara is one of the lowest density developments in the neighbourhood, with less than half the allowable density compared to new projects in Mont’Kiara. Living true to its tagline of “Your Private Oasis”, Hijauan Kiara is served by a network of energising recreational facilities and a soothing network of water canals that run through the Spa Island.

Hijauan Kiara’s gem is undeniably the Spa Island which offers a range of spa amenities such as various therapy pavilions, hot and cold pool, sauna and steam rooms. It will appeal to those wishing to relax and unwind after a hard day’s work. Other exciting facilities that would make homeowners proud to call Hijauan Kiara their private oasis are the meditation garden, reflexology path, children’s playground, tennis court and squash court.

Hijauan Kiara consists of seven blocks – four are low rises of six, eight, 10 and 12 storeys and the other three are high rises of 24, 26 and 29 storeys.

A variety of standard and duplex units are available with built-up areas ranging from 2,090 sq ft to 3,732 sq ft, accommodating 3+1 bedrooms and 4+1 bedrooms. Also available are six penthouses with built-up areas starting from 4,068 sq ft housing 4+1 bedrooms.

The project is accessible via the Kerinchi and Penchala links of the Sprint Highway, Jalan Duta, Jalan Damansara and Jalan Segambut Dalam. Three international schools are also located in the vicinity.


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Posted Date: April 18, 2008 12:00:00 AM
Keys to success in Malaysia real estate investment uncovered

The recent political and economical changes have caused volatility in the stock market. What is the resulting impact on the property market? How can you turn RM100,000 into RM1,000,000 within a year from property investment? Where and what to invest in 2008? How to make your property value appreciate more than the current market value?

Gavin Tee (Swhengtee) will address all of the above in his talk on May 17 2008 held at Kuala Lumpur Convention Centre. The property investment talk, titled "Keys to success in real estate investment in 2008 ” is organised by AMCITY CAPITAL SDN BHD and will be conducted in Mandarin.

According to Tee, there are very few Chinese language seminars and information in the market. He believes that this puts the Chinese investors in a less favorable position in their property investment.

With his vast knowledge in selling, Tee has conducted many training courses in the area of sales. He was also a Trainer for Continuing Education Program (CEP) of KLSE Directors Training Programme. He has also authored four books and is currently a feature writer for various magazines and newspapers. Tee has also been frequently invited to be a commentator for NGOs and local television news programmes.

Tee has been in real estate industry for more than 16 years. He said that real estate investment does not guarantee profits. It is like operating a business that requires professional knowledge and skill. There are high return good properties or low return bad properties. The investors need to acquire sufficient information, and conduct detailed market research in order to be able to negotiate competently in assuring success.

Tee also mentioned, “Today, investors are no longer looking for 10 per cent return per annum for their real estate investment, if possible they want a 100 per cent return." He claims that many investors use RM100,000 as the initial capital  in return for RM1,000,000 profit. He has witnessed this many times. He believes that many like to make big bucks from property investment, yet most have not even read a single investment related book or attended any real estate seminars.

Tee obtained his International Marketing Degree from Eastern Michigan University of United State. Besides being a Registered Estate Agent, he also holds a Council position in Malaysia Institute of Estate Agents (MIEA). He holds the position of managing director in Arborland & Co Sdn Bhd, a real estate firm established since 1996.

The Seminar is sponsored by UK Land International, Ho Chin Soon Research, iProperty.com and Money Compass. Tickets are priced at RM268.  Early bird discount (for registrations before 7 May 2008) is only RM138.  For those who are interested, please call 03-79830103 for more details.


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Posted Date: April 08, 2008 12:00:00 AM
iProperty.com enhances user experience with free property alerts

The iProperty.com Group, Asia’s leading network of property portals and owner of Malaysia’s No. 1 property and real estate website, has introduced Property Alerts, an email alert service available exclusively on its Malaysia (www.iProperty.com.my) and Singapore (www.iProperty.com.sg) websites.

Property Alerts is a free service which sends iProperty.com members daily property email alerts. All members have to do is fill in a simple search alert form and indicate the type, location and price range of the property they are interested in. Based on this information, they will receive an email alert as soon as a property which meets their criteria becomes available on the market.

Patrick Grove, executive chairman of the iProperty.com Group said, “This service is especially pertinent for time-pressed working professionals looking to buy a home and who do not have the luxury of trawling through countless property listings. With this alert service, suitable properties will be shortlisted for them, saving them precious time and effort.”

“Everyone knows how hard it is to come by a property which fits your requirements to a tee, so with property alerts, home buyers can now avoid a situation where their dream home is snapped up by someone else. Being in the know and having access to the most up-to-date property information means you enjoy first-mover advantage, which is crucial in securing a good deal,” he added.

The rationale for using an email alert service stems from a recent Asia Property Trends Survey conducted by the iProperty.com Group, which clearly indicates that the Internet is now the favourite medium for property hunting across Asia.

Property Alerts is the newest of many features which are currently available on the iProperty.com property network. Since its inception last year, iProperty.com has enhanced the overall user-friendliness of its website with the introduction of features such as Google Maps, which enables home buyers to view a property in relation to its surrounding as well as iVirtual, which offers virtual tours of selected properties. These ongoing website enhancements are in line with iProperty.com’s vision of establishing itself as the easiest and smartest way to search for property in Asia.

The iProperty.com Group also recently acquired Keagen Group Sdn Bhd, which will enable further domination in the property media space in the region, as well as provide cross-promotional and cross-selling opportunities.


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Posted Date: April 04, 2008 12:00:00 AM
UEM Builders sign RM183m loan facility agreement with Govt

UEM Builders Bhd’s wholly owned subsidiary Penang Bridge Sdn Bhd (PBSB) has signed a RM183.1 million term loan facility agreement with the federal government to partially finance additional works on the Penang bridge.

According to the company, the loan tenure will be 150 months from the first drawdown and interest rate will be fixed at six per cent per annum. The agreement was signed pursuant to the execution of a supplemental agreement to the concession agreement between PBSB and the government, on August 30 last year.


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Posted Date: March 28, 2008 12:00:00 AM
S P Setia reports RM48.5m profit

S P Setia Bhd posted net profit of RM48.52 million for the first quarter ended Jan 31, up 3.8 per cent from RM46.76 million in the previous corresponding period, boosted mainly by property development initiatives in the Klang Valley, Johor Baru and Penang. The group’s construction and wood-based manufacturing activities also contributed to its earnings.

According to the company, revenue increased 19 per cent to RM303.65 million from RM255.21 million. Earnings per share was 4.81 sen compared with 4.56 sen before.

In the current financial year, S P Setia intends to focus its efforts in transforming itself from being largely a Malaysian developer of residential homes to a fully integrated regional real estate developer.

The developer said that sales for its first integrated commercial project, Setia Walk in Pusat Bandar Puchong has been encouraging, and commenting on its overseas ventures, it said that it intends to launch its first overseas project in Vietnam by July. S P Setia chief executive officer Tan Sri Liew Kee Sin said that it expected sales to see a year-on-year rise of 56 per cent to RM1.8 billion.


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Posted Date: March 26, 2008 12:00:00 AM
Danga City Mall to open its doors in Johor

Danga City Mall (DCM) in Johor is scheduled to open in July this year, with Metrojaya as its anchor tenant. It will be one of the biggest shopping complexes in Johor Bahru.

DCM director Gary Lee Seaton said the mall is scheduled to open in July as soon as Metrojaya completes its renovations and fittings.

The 500-unit mall has attracted significant interest from Malaysian and Singapore-based retailers.


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Posted Date: March 25, 2008 12:00:00 AM
Aseana to gain RM2b from Mont' Kiara projects

London Stock Exchange-listed Aseana Properties Ltd, expects to earn nearly RM2 billion in gross development value (GDV) from its two luxury projects in Mont' Kiara.

The company, which is 20 per cent owned by Ireka Corp Bhd, said that it plans to launch its first overseas project in Vietnam by year-end. The Vietnam venture, to be developed jointly with a local party, is envisioned to be a mixed development comprising service apartments, office and retail lots.

Aseana is expected to generate RM1.3 billion from the recently launched Seni Mont' Kiara residential resort and RM380 million from Tiffani by i-Zen condominium project. Seni Mont' Kiara and Tiffani by i-Zen are both high-end residential and commercial developments. More than 90 per cent of the total 399 Tiffani by i-Zen units have been sold in the past one year at an average price of RM630 psf.
 
To date, 60 per cent of the project has been completed and should be ready for handover in early 2009.

Seni Mont' Kiara is a 600-unit condominium project which comprises four blocks. Average price is expected to be RM750 psf.

Aseana said that it expects to launch an office development by December this year. It will comprise a 28-storey and 16-storey block with an average price of RM850 psf.


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Posted Date: March 24, 2008 12:00:00 AM
BLand grows its landbank

Berjaya Land Bhd (BLand) has announced that it will be acquiring a freehold vacant land in Johor from MOL.com Bhd for RM10.5 million. The acquisition will increase the company's landbank amid the robust property market in the southern part of Peninsular Malaysia.

The deal is between its business unit, Berjaya Land Development Bhd, and LKH Wires & Cable Sdn Bhd, which in turn is wholly-owned by MOL.com.


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Posted Date: March 17, 2008 12:00:00 AM
SunCity enters JV to develop RM380m condo project in India

Property developer Sunway City Bhd (SunCity) announced that it has entered into a joint venture with Hyderabad-based MAK Projects Private Ltd to develop a RM380 million condominium project in Hyderabad, India.

Under the agreement, SunCity will initially invest RM4 million to secure the project and subsequently increase it to RM17 million for a 60 per cent stake in the 5.67ha project.

Located 8km from the newly opened Rajiv Gandhi International Airport and 21km from the Hyderabad city centre, the first phase of the development will be launched by early 2009.

The project will feature 1,500 condominium units which will be completed in several phases over the next three years. The average size of the units is about 1,500 sqf with an average selling price of RM208 psf.

This is SunCity's second investment in India. In July 2007, it signed an agreement to develop Sunway Opus Grand Residency, another high-end condominium development on a 14.18ha located in the suburb of Ameenpur, about 15km northwest of Hyderabad.

SunCity said it is on target to launch the RM1.5 billion Sunway Opus Grand Residency in April this year. The company also hopes to expand to other countries in the region such as China and Vietnam. Currently, it has presence in Australia, Cambodia and India.


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Posted Date: March 10, 2008 12:00:00 AM
Positive response for Bukit Puchong's townhouses

Bukit Hitam Development Sdn Bhd has sold 90 per cent of the first phase of its garden-themed townhouse project, Parkville Townhouses since its launch in November last year. The second phase was launched on 1 March 2008.

Located within the thriving township of Bukit Puchong, ParkVille Townhouses is a gated development comprising 400 units of three-storey townhouses. Set on a 16-acre site, its lush gardens are designed by landscape architect Yap Nga Tuan.

General manager Lim Jee Kong said: “The positive response from buyers of the townhouses means that there is a growing demand not just for the townhouse concept, but also for living in Puchong, which is experiencing a growth wave.”

Bukit Puchong is close to the government administrative centre of Putrajaya, Cyberjaya, the KL International Airport and a short drive from the established townships of Petaling Jaya, Subang Jaya and Seri Kembangan.

Scheduled to be completed by October 2010, ParkVille Townhouses will have a total gross development value (GDV) of RM88 million. Prices for the intermediate units of phase two range from RM228,888 to RM233,888. Units have lot sizes of 24ft by 60ft and built-up areas of 1,259 sqf for the lower unit and 1,528 sqf for the upper unit.


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Posted Date: March 04, 2008 12:00:00 AM
Plenitude launches Tebrau City Residences

Plenitude Bhd has unveiled Tebrau City Residences project, a first-of-its-kind serviced apartments project in Johor Bahru, with a “city within a city” concept.

Comprising 1,088 units, Tebrau City Residences is designed to cater to urbanites, accustomed to city living. It lies within Tebrau City and is located next to three retail malls - AEON Jusco mall and the upcoming Tesco and IKEA malls.

The project is made up of three- and four-bedroom apartments, with sizes ranging from 1,089 sq ft to 1,882 sq ft. The units are priced from RM133 psf to RM175 psf.

Tebrau City Residences will have a pool, gym, sauna and badminton courts. The service charge for maintenance of common areas and facilities is 14 sen psf.

Plenitude executive chairman Elsie Chua said, "Our current launch is the first parcel with 472 units, which has received good response. The rental yield at this area is projected at 8 per cent and is expected to continue to increase due to land appreciation in this area and within the Iskandar Development Region."


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Posted Date: February 28, 2008 12:00:00 AM
More luxury homes in Kota Kinabalu

With a growing number of rich Sabahans choosing to build their sprawling mansions here, Kingfisher Palm Homes Sulaman and Kingfisher Park 2 have become established prestigious residential addresses in Sabah, Kota Kinabalu.

To meet the growing demand for luxury homes in this areas, developer Hap Seng Properties Development Sdn Bhd (a wholly-owned subsidiary of Hap Seng Consolidated Bhd), will be launching Phase 5 of Kingfisher Palm Homes Sulaman – a gated and guarded community comprising 40 boutique bungalows. Scheduled to be launched by the middle of this year, each bungalow will be priced at about RM1 million.

The first three phases of this project, which have already been completed with Certificate of Fitness for Occupation, comprises 2½-storey link houses and semi-detached houses. Phase 4, which is due for completion early next year, includes 2½-storey link houses, 2½-storey semi-detached houses, 2½-storey link bungalows and 2-storey detached houses.

Hap Seng has also completed and sold 745 homes in Kingfisher Park 2. Both projects, situated along the Kota Kinabalu-Sulaman Highway, are close to the soon-to-be-launched, 1 Borneo, the first and largest hypermall in East Malaysia, Universiti Malaysia Sabah, and the government administrative centre. This fast-growing area is about a 10-minute drive from Kota Kinabalu town.

According to Hap Seng Properties Development Sdn Bhd property division general manager for East Malaysia, John Tan Duo Zer, Phase 5’s boutique bungalows will have substantially bigger built-ups and land areas compared to the Phase 4 link bungalows.

The Kingfisher Palm Homes Sulaman will boast a grand main entrance which is lined by palm trees, lush landscaping, idyllic gardens and water parks, outdoor gyms and exercise stations, pedestrian paths, jogging tracks and playgrounds.

Hap Seng has also built 148 units of two and three-storey shop offices in Plaza Kingfisher.


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Posted Date: February 25, 2008 12:00:00 AM
Northshore Gardens enjoy brisk sales

Ahead of its official launch, more than 50 per cent of The Northshore Gardens’ 274 condominium units were snapped up.

Group chief executive officer of Perdana ParkCity Sdn Bhd (PPC) Lee Liam Chye, attributed the robust sales to “strong demand from its existing customers”.

Lee added: “Our customers have a lot of confidence in Desa ParkCity residential properties because they have enjoyed consistent capital appreciation averaging 8% per annum for the last three years and net annual yields as high as 12 percent from leasing to the growing population of expatriates,”

Northshore Gardens is the first residential development in the heart of the 473-acre Desa ParkCity – The Central Park.


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Posted Date: February 21, 2008 12:00:00 AM
S P Setia reports RM23m worth of sales for Eco Gardens

Property developer, S P Setia Bhd, has sold over RM23 million worth of homes in Setia Eco Gardens, its latest township project in Johor.

S P Setia’s group managing director Tan Sri Liew Kee Sin said, "We are very excited to expand the reach of our ecologically friendly development concept to housebuyers in Johor."

Built on a 380ha plot of land, Setia Eco Gardens is adjacent to the Johor state's new administration centre in Bandar Nusajaya, within the heart of the Iskandar Development Region. The township is also sited next to a secondary forest reserve, with a natural stream running through the site.

The initial launch featured two types of single-storey homes, namely Messius and Sotira, with a starting price of RM185,800, as well as two types of double-storey houses, Norbana and Visellia, priced from RM249,800. The project has a total of about 10,000 houses.


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Posted Date: February 18, 2008 12:00:00 AM
Penang Dev Corp to build RM100m office building

The state's development arm, Penang Development Corp (PDC), has announced plans to build a RM100 million commercial building in Bayan Mutiara.

PDC intends to build and then rent the offices within the 16-storey building, to global companies. On its target tenant list are several Fortune 500 companies including Citigroup, which it is currently in discussions with for anchor tenancy.

Located within the Penang Multimedia Super Corridor Cybercity, Bayan Mutiara is an integrated project on 40ha of seafront land.

The project, which will encompass four precincts, will comprise high-end and mid-range homes, schools, a mosque and a government administrative complex, including the state legislative assembly building.

The elected representatives' offices and the office of the Chief Minister will also be located within the state administrative complex.

In June last year, PDC sold a 0.82ha plot of land to the Inland Revenue Board to build a 16-storey corporate tower. A four hectare plot was sold to the Marine Police Department.

Its property arm, PDC Properties Sdn Bhd, has already started building and selling landed residential properties and will be launching a condominium project soon.


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Posted Date: February 14, 2008 12:00:00 AM
Growing interest in Putrajaya properties

Putrajaya Holdings Sdn Bhd, the master developer of the federal administrative capital of Putrajaya, recently revealed that it is close to selling en bloc a 12-storey office building in Precinct 3.

Chief executive officer Azlan Abdul Karim said two local parties and one foreign firm have offered to buy the entire block of 26 Boulevard, which is estimated to be at least RM200 million worth.  He added that a deal is likely to be concluded by the end of this quarter, or early next quarter.

The building, which uses double blazing glass as a key component, is designed to be energy-efficient as coating of the glass can absorb and then re-radiate the sun's heat.  Measuring 48,000 sqm in gross floor area, it received its certificate of fitness in January 2008, and is already 90 per cent tenanted.

Putrajaya Holdings made its first land sale to a foreign investor last July, when it sold a 0.61ha site in Precinct 3 to Hong Kong-incorporated TRW Group for RM23.2 million.  The company recently sold another piece of land with an estimated area of 1.2ha to a local company, Malaysia Land Properties Sdn Bhd - which counts Hong Kong property tycoon Tan Sri David Chiu as a major shareholder.

Moving forward, Putrajaya Holdings is set to sign another agreement in late February for its third land sale measuring 0.6ha to a local company backed by foreign owners.

Azlan remains optimistic and upbeat on the potential of Putrajaya's properties, noting: "Foreigners, like Chiu, are very bullish on the office space in Putrajaya. These property players believe that when they build the office lots here, people will eventually move from other more expensive cities...to Putrajaya."


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Posted Date: February 13, 2008 12:00:00 AM
KLCC top pick of developers & investors

The Kuala Lumpur City Centre (KLCC) continues to lure developers through the diverse variety of tastefully designed projects available there.

There are more than 2,000 residential units in the KLCC enclave today, compared to the less than 1,000 units in the late 1990s.  And if the current trend is anything to go by, it is expected that there will be more than 7,000 residences completed by 2010.  In fact, the total approved projects - including those under construction and completed - as of the end of 2007 will see more than 6,000 new apartments added in the area within the ensuing three years.

With more than 30 property projects either completed or in various stages of construction, it is unsurprising that KLCC is hogging the spotlight today.  This growth is further catalysed by the participation of many niche players, who continue to purchase land in the vicinity despite the current high land price of RM1,500 to RM2,000 psf.

According to DTZ Nawawi Tie Leung executive director, Brian Koh, iconic buildings such as Park Seven, Stonor Park, Troika, Four Seasons Residence and The Avare - with their own unique features - would further raise the bar of design excellence for high-rise apartments in the KLCC enclave.  He added that these iconic buildings would place KLCC on the map as an internationally acclaimed address.

In addition, the presence of world-class players like Singaporean property magnate Datuk Ong Beng Seng of Hotel Properties Ltd, Quek Leng Chan of Hong Leong Group, Tan Sri David Chu of Mayland Group and Singapore's CapitaLand will add more value and depth to the KLCC enclave as a well-sought after address.

Tan & Tan Developments Bhd executive director, Teh Boon Ghee, acknowledged that the KLCC enclave will remain the focal point of real estate development for many years to come.

Echoing Koh and Teh's sentiments was Abbey Woods Sdn Bhd chairman and managing director Datuk Wong Choon Kee, who noted: “The KLCC Twin Towers...would continue to attract developers and investors.  The...twin towers stand out as one of the more unique structures in the world and remain one of the largest real estate developments in the world today."


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Posted Date: February 12, 2008 12:00:00 AM
Sun, sea & luxury living

A prestigious development by the Kuala Lumpur Metro Group, the Legend International Water Homes in Port Dickson have been sold even before completion. Located at Tanjung Gemok, some 2 km from Port Dickson, this project is the second phase of the Legend Water Chalets, which are scheduled to be completed by the first quarter of 2009. 

The first phase was launched in 2006, and saw all 392 units sold out.  The second phase was recently launched by the Yang di-Pertuan Besar of Negri Sembilan, Tuanku Ja'afar Tuanku Abdul Rahman.  More impressively, almost 70 per cent of the 249 units on offer for the second phases - which offers a more high-end concept - have been snapped up.  The units include 166 water chalets, 44 garden chalets and 39 sky pool villas, with prices ranging from RM300,000 to RM1 million.

Most of the buyers are from the Klang Valley although 30 per cent consist of overseas buyers; mostly from North America, Western Europe, the Middle East and Asia Pacific region.  As with the first project, the second phase will also be managed by the Legend Group of Hotels and Resorts.

The Legend Water Chalets are tastefully consummated with a Tropical Balinese touch, with one unique feature - each unit has its own private pool and open air garden.


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Posted Date: February 11, 2008 12:00:00 AM
Bringing world-class education to Bandar Springhill

West Synergy Sdn Bhd has teamed up with UCSI Education Sdn Bhd to establish an education township at its Bandar Springhill development in Negri Sembilan, with Deputy Prime Minister Datuk Seri Najib Tun Razak witnessing the signing ceremony in Putrajaya on 4 February 2008. 

West Synergy is a 60:40 joint venture between MUI Properties Bhd and Chin Teck Plantations Bhd. 

UCSI vice-chancellor and president Peter Ng revealed that the cost of developing this full-fledged township is likely to reach "a few hundreds of million ringgit".  In fact, the Bandar Springhill township has already been established 10 years ago, with advanced infrastructure and telecommunications system already in place.

The Bandar Springhill education township will be developed in three phases on a 64ha site in Port Dickson and is scheduled to be completed by 2016.  The first phase will see the development of a fully-equipped international school with residential facilities in May, as well as a state-of-the-art 500-bed medical centre.

The subsequent second phase of the development will see the main campus being built. Once completed, it will house a medical sciences faculty, a management and information technology faculty, a faculty for applied sciences as well as a centre dedicated to continuous research in Blue Ocean strategy.

And last but not least, the third phase will see the development of an incubation centre for UCSI's subsidiaries and spin-off companies as well as facilities for marine biology studies.


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Posted Date: February 01, 2008 12:00:00 AM
Southgate beckons to investors & buyers

Conceptualised as an integrated commercial and leisure hub, Southgate is Mah Sing Group Bhd's (Mah Sing) latest development in the Kuala Lumpur City Centre (KLCC).

Inspired by Shanghai's Xintiandi, Southgate is expected to be completed in three years' time.  It comprises of five blocks, with the main Corporate Building facing Jalan Tun Razak and the Apex Block facing Jalan Dua.  The remaining the blocks - Vox, Vivo and Verve - are located within and connected via an atrium space. 

The office suites range from 592 sqf to 1,704 sqf and retail lots from 535 sqf and 2,095 sqf.  Brilliantly blending work and play, Southgate is envisaged to be one of the most coveted business and retail addresses in the heart of the Kuala Lumpur's vibrant city centre.

Southgate is yet another testimony to Mah Sing's pride in its reputation as a premier lifestyle developer. The Group continues to innovate on its projects, to add value to them.


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Posted Date: February 01, 2008 12:00:00 AM
REHDA holds open house

The Real Estate & Housing Developers' Association of Malaysia (REHDA) recently held its `Open House' on 26 January, at the Eastin Hotel in Petaling Jaya.

Jointly organised by REHDA Malaysia, REHDA Selangor and REHDA Wilayah Persekutuan (Kuala Lumpur), the event was attended by more than 200 guests - including government officials, representatives from fraternal organisations, members of the press and of course, REHDA members.  The event is an annual gathering, which provides a platform for guests to mingle and interact freely with their industry counterparts, in a casual setting.

But perhaps, the `highlight' of the evening was lively karaoke performances by REHDA president, Ng Seng Liong and organising chairman, Teh Boon Ghee.  Nor did everyone leave the Eastin Hotel empty-handed, as 70 hampers were presented to lucky draw winners, members of the media as well as those who sportingly took to the stage to entertain their fellow attendees that evening.


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Posted Date: January 31, 2008 12:00:00 AM
Kota Kinabalu City Waterfront unveiled

The Kota Kinabalu City Waterfront (KKCW) project was unveiled yesterday by Waterfront Urban Development Sdn Bhd (WUD), who will be collaborating with Dewan Bandaraya Kota Kinabalu to develop it.  This was done in conjunction with a signing ceremony between WUD, Kuwait Finance House (Malaysia) Bhd and a consortium of Middle Eastern and Malaysian investors, to jointly make the KKCW a reality.

The RM500 million Kota Kinabalu City Waterfront - located within the Sabah Development Corridor (SDC) - is an integrated mixed seafront development situated on the waterfront of the city centre.  Expected to be completed by 2010, it will feature the key attraction of a 2km long boardwalk, built using eco-friendly materials rising above the sea on stilts.

And in tandem with its environmentally-friendly concept, the KKCW will also incorporate features such as hi-tech LED lighting, energy-conserving air-conditioning systems and solar-powered pedestrian lighting along the boardwalk.

Once completed, the KKCW will feature one of the longest city waterfront boardwalks in Asia, thereby making it Kota Kinabalu's prime tourist attraction.


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Posted Date: January 29, 2008 12:00:00 AM
Plans in the works to build `Mid Valley' of PJ

PJCC Development Sdn Bhd has already sold RM50 million of properties under the first phase of its Petaling Jaya Commercial City (PJCC) development project.  This phase, which is only 45 per cent complete, consists of the retail city precinct that offers three, five and eight-storey shop-lots.

The book value of the retail city is RM80 million, while the gross development value of the whole project is RM500 million.  According to PJCC Development sales & marketing manager, Vincent Tai, the project will be substantially self-funded.  It is scheduled for completion in 2014, and will house four precincts spanning 13ha, to be developed in three phases.

Adding that PJCC envisages its latest project to be the `Mid Valley of Petaling Jaya', Tai substantiated his point of view by emphasising its location - between the Mid Valley Megamall in Kuala Lumpur and Sunway Pyramid in Petaling Jaya.  Furthermore, with its competitive pricing, this development shall be an attractive prospect for investors and businessmen.

In addition to what the Mid Valley Megamall already has, such as service apartments, a hotel and a shopping mall, PJCC's development shall also include an automotive city complex, a lake city complex, a bazaar retail lot and a full-fledged college campus.

As far as accessibility is concerned, Tai revealed that the company has received approval to build an ingress from the New Pantai Expressway (NPE) to the development.

PJCC Development is the owner and developer of the PJCC project.  In fact, its owners are also shareholders of the Novotel Hotel in Kuala Lumpur and the Pulai Springs Resorts in Johor, which include Mah Siew Chean.


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Posted Date: January 29, 2008 12:00:00 AM
Malaysians like their properties firmly planted on the ground

The iProperty.com Group, Asia’s leading network of property portals and owner of Malaysia’s No. 1 property and real estate website, is pleased to share Part 2 of the Asia Property Trends Survey 2007, which reveals the investment behaviour of local property buyers. Part 1 of the results, which was released earlier this month, focussed on foreign investors of Malaysian property.

iProperty.com’s survey reveals Malaysians to be keen property purchasers, who favour landed properties, over high-rise developments. Findings also indicate that locals are more inclined towards obtaining maximum margins of financing.

The average iProperty.com Malaysian survey respondent is highly educated (69 per cent have a Bachelor’s degree or higher level of education), a professional or senior executive (60 per cent) and has an annual income of at least US$20,000 / RM76,000 (53 per cent).

Compared to most foreign buyers who have a preference for luxury condominiums, Malaysian respondents strongly favour landed properties, with 59 per cent and 53 per cent voting for completed and newly launched landed properties respectively. Interestingly, this corresponds with their primary attraction to property investment cited: potential capital appreciation gains (62 per cent). It is a widely known fact that landed properties, as compared to high-rise apartments; tend to perform better in terms of long-term capital appreciation.

The survey findings clearly indicated that Malaysians are ardent property purchasers on an active lookout for investment opportunities, with a significant 88 per cent expressing that they have the intention of purchasing property within the next 12 months. Forty-eight per cent divulged they have purchased at least one property over the past 24 months, with 10 per cent having purchased two or more.

An overwhelming 77 per cent of respondents stated that they plan to fund their property acquisitions with loans that give them margins of financing of between 80 per cent to 100 per cent.

Fifty-seven per cent replied that `Location’ was the most important factor they consider in hunting for a viable property, with 36 per cent ranking `Price’ as the second most important factor. In this context, both Malaysian and foreign buyers agree on the factors of `Location’ and `Price', in identical order of importance. 

Patrick Grove, executive chairman of the iProperty.com Group said: “We now have a good reason to believe that Malaysia has a property-investing culture with a lot of domestic demand. Property values have been rising consistently over the years, and will continue to do so as the country develops. We are pleased to note that many savvy Malaysians recognise the attractiveness of the local property market and are eager to take advantage of the significant potential upside.”

“It is also interesting to discover that Malaysians still prefer to invest in landed property compared to their foreign counterparts, who prefer high-rise properties,” he added.

The iProperty.com Asia Property Trends Survey aims to reveal trends among Asian property buyers; including the key motivations for purchasing property, the types of property they are interested in, the countries they are keen on, their budgets, and how they go about conducting their property search and property research methodologies.  This Survey was conducted online from 15 November to 31 December 2007, with results yielded from 2,066 respondents.
 


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Posted Date: January 28, 2008 12:00:00 AM
Mapletree Industrial Fund expands investments in Johor

Mapletree Industrial Fund Ltd (MIF) is purchasing four industrial properties in Johor for RM61.5 million in a sale-and-leaseback arrangement.

MIF's primary focus is on manufacturing facilities, business parks, industrial parks, research and development facilities, information technology and software parks, and industrial offices throughout Asia.

The Singaporean company has signed two separate agreements with Tangkai Jaya Sdn Bhd and Setegap Jaya Sdn Bhd to acquire their assets at the Tampoi Industrial Estate in Johor. The properties consist of four two-storey purpose-built detached factory buildings, totalling 406,250 sqf in floor area.  Each of the four properties is currently sub-leased to Enplas Precision (M) Sdn Bhd, MCE Technologies Sdn Bhd and Celestica Electronics (M) Sdn Bhd - with the latter occupying two buildings.

Mapletree Industrial Fund Management Pte Ltd chief executive officer Phua Kok Kim said that the acquisition was to enable the MIF to increase its portfolio of quality industrial assets in Malaysia. Furthermore, it also highlights the company's commitment towards expanding the MIF into a pan-Asian industrial fund.


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Posted Date: January 25, 2008 12:00:00 AM
TTDI Development adds another tower to Platinum Park

TTDI Development Sdn Bhd, a member of the Naza group, will sell the 50-storey office tower it plans to build, to the Federal Land Development Authority (Felda) for RM640.7 million.

The proposed  Menara Felda (Felda Tower) is the tallest of seven iconic towers in TTDI Development’s RM3.5 billion Platinum Park - an upmarket integrated residential and commercial development.  Spanning approximately 3.7ha of freehold land in the prestigious Kuala Lumpur City Centre (KLCC), Platinum Park is surrounded by new high-end condominiums like The Avare, Binjai, Stonor Park and Suria Stonor. Platinum Park currently comprises three luxury condos, three Grade A office towers and a five-star service apartment tower - and shall be developed in five phases, over the next eight years.

Deputy Prime Minister Datuk Seri Najib Tun Razak, who performed the ground-breaking ceremony at the project site at the corner of Jalan Stonor and Jalan Kuda on 22 January, also witnessed the signing of the agreement between TTDI Development and Felda on Menara Felda.

Once completed, Menara Felda will have a nett lettable area of 689,000 sqf and a floor plate of 15,000 sqf. It will also feature a large banquet hall that can seat 1,500 people at the basement level, amongst many other facilities.

Indeed, Menara Felda is set to be the biggest luxury development to be undertaken by a bumiputra company in the vicinity of Kuala Lumpur's Golden Triangle, where the Petronas Twin Towers and Suria KLCC shopping centre are also located.  Set amidst a lush landscaped haven-with-a-city concept around a RM20 million private 1.5-acre park, the project offers residents a chance to live, work and play within their own exclusive domain.

The condominiums will be priced from RM2,000 to RM2,500 psf, with sizes ranging from 2,200 to 5,500 sqf and penthouses of 8,000 to 13,000 sqf.  There will be a 30-storey condominium tower with 123 units and two 42-storey condominium towers with a total 164 units. The first condominium block is expected to be launched either later this year or early next year.

In addition, there will also be niche lifestyle retail offerings to complement this one-of-its kind development in the capital.  These outlets will feature products and services of international appeal catering to those with a taste for luxury and class.


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Posted Date: January 25, 2008 12:00:00 AM
Kenanga to build mall near old Pudu Jail

Kenanga Wholesale City Sdn Bhd is allocating RM300 million to build a 1.8 million sqf fashion wholesale mall at Jalan Kenanga, near the old Pudu Jail.

Expected to be completed three years from now, this 22-storey development will also help ease congestion at the busy Kenanga area - where garment wholesalers have been plying their wares from multi-level shoplots since the 1990s.

Chief executive officer Yee Ia Howe revealed that 790 units between 300 and 600 sqf will be built, at a price of RM1,980 to RM3,300 psf. Given its prime location, it was unsurprising that such was the demand, that 70 per cent of the mall was already sold before yesterday's soft launch - with foreign garment makers being among some of the buyers.

As this is an obvious indication of the vast potential of the domestic garment wholesale industry, Yee went on to add that the management would work with the Malaysian Garments Wholesale Merchants Association to help wholesalers and garment manufacturers in paving inroads into regional markets like Indonesia, Brunei, southern Thailand, Taiwan and Singapore.

Supporting Yee's vision was Deputy Finance Minister Datuk Dr Ng Yen Yen, who noted that most fashion manufacturers "....by themselves...don't have the infrastructure to help them compete in the global market. We (therefore) need a centre where purchasers can come and pick up eveything from clothes to accessories and go."

Datuk Dr Ng also shared with all present that although the wholesale mall is a new concept in Malaysia, it is a proven success in Chinese cities like Shenzhen, Shenyang and Shanghai.


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Posted Date: January 22, 2008 12:00:00 AM
Booming interest in IDR

Property developers are making a beeline to increase their land banks in Johor, spurred by the rapid growth of the Iskandar Development Region (IDR).

Industry players and analysts expect prices in Malaysia's Southern Gateway to continue rising - although marginally at present - due to demand as well as the high costs of building materials.  Nevertheless, it is commonly opined that it will take some time before prices of real estate and land in Johor will rival those in Kuala Lumpur.

Mah Sing Group Bhd chief Datuk Leong Hoy Kum said its three existing projects in Johor have enjoyed brisk sales since the IDR's launch, with prices of properties in prime locations in Johor Bahru having increased by about five to 10 per cent. The company recently bought 24ha in Johor Bahru for RM21 million to develop a new township, called Sri Pulai Perdana 2.

Another player betting on Johor is Tradewinds Corp Bhd, owned by Tan Sri Syed Mokhtar Al-Bukhary. The company is buying 363ha in Bandar Nusajaya for RM145 million.

Echoing similar sentiments is Datuk Yap Suan Chee, who control the Melati Ehsan Group.  Yap notes that real estate sales in the IDR have picked up by more than 20 per cent, and revealed that Melati Ehsan intends to increase its land bank in the IDR. The company is also looking to collaborate with landowners, to develop properties together.

Melati Ehsan is currently pursuing its maiden venture in Johor - Taman Ehsan Jaya - located within the IDR, in a partnership with landowner TPPT Sdn Bhd, a unit of Bank Negara Malaysia. This RM850 million joint-venture involves building 5,000 shoplots, medium-cost houses and low-cost apartments over 122ha. To-date, half of it has been completed, for RM400 million.


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Posted Date: January 22, 2008 12:00:00 AM
A Paradigm shift that beats with activity

With its stunning architecture, coupled with state-of-the-art facilities and services, The Paradigm is set to revolutionise the Petaling Jaya city landscape.

Developed by WCT Land Berhad, The Paradigm consists of three components: The Escalade Corporate Office Towers, The Ascent Corporate Office Suites, and The Paradigm Mall. Fronting the Damansara-Puchong Highway (LDP), and connected to other parts of the Klang Valley via major arteries such as the Federal Highway, NKVE and Sprint Highway, The Paradigm's buildings are envisaged to be the convergence point of business, retail, dining and entertainment in Petaling Jaya.

For starters, The Escalade is made up of impeccably-designed office towers, while The Ascent houses office suites that are guaranteed to immediately enhance the corporate image of the entities that occupy them.

Catering to all modern lifestyle needs is The Paradigm Mall, which showcases the latest in retail and fashion.  All outlets are set within an immaculately crafted shopping haven, thereby promising both retailers and shoppers alike an unforgettable experience.

In living up to the expectations and repute one may expect of WCT Land, The Paradigm epitomises perfection - where business and pleasure blend harmoniously with one another.


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Posted Date: January 21, 2008 12:00:00 AM
Malton targets RM2b in property launches

Klang-based developer, Malton Berhad, plans to develop RM2.1 billion worth of gross development value (GDV) in residential and commercial projects, over the next three years; Malton is also conducting feasibility studies on expanding abroad, especially in China, Vietnam and Thailand.

Speaking at a media briefing session in Kuala Lumpur were Malton director for sales and marketing, Tracey Lai, and chief operating officer, Yeoh Teng Tatt.  On the domestic front, the company expects to provide potential buyers with sales previews on its residential and mixed-development projects in the Klang Valley, by the middle of 2008.

One of the projects touched on was the Ukay Spring residential project, which has a GDV of RM410 million.  This eco-friendly residential development comprises of 88 bungalows and 60 semi-detached homes, with bungalow units priced at RM3 million each, and semi-detached units priced at RM1.5 million.

Yeoh also expressed optimism that Malton's property development arm is expected to peform better this year - driven by its new projects in Selangor; namely Pearl Villas, Amaya Saujana and V Square, which were launched November 2007. All 42 three-storey semi-detached houses and two bungalows under the Pearl Villas development are sold-out, while discussions on the en bloc sales of two corporate tower blocks under the V Square development are currently on-going.

The developer also plans to its maiden project in Penang by early April.  Known as the Cantonment Land project, the project involves the construction of a 36-storey duplex condominium, worth RM47 million in GDV.


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Posted Date: January 18, 2008 12:00:00 AM
Malaysian developers urged to tap Vietnamese market

Vietnam is Asia's second fastest growing economy after China; recording an 8.4 per cent growth in 2007.

Given Vietnam's booming real estate and property sector, Malaysian investors should tap into this growing market - which has been forecast to grow more than 50 per cent per year in the next 10 years.

According to Deloitte Vietnam senior tax manager, Kevin Lam, companies such as Berjaya Kawat Group Bhd and Gamuda Corp have already paved inroads into Vietnam last year.  What's more, other Malaysian companies are already in Vietnam, to conduct feasibility studies on the country's property sector.

With prime land costing as much as US$15,000 (RM48,900) per sqm, demand for residential, office and urban development is on the increase. Speaking to reporters in Petaling Jaya at a seminar on tax strategies for overseas projects and investments, Lam went on to add that property appreciation could also easily double in a year's time.

As an incentive, foreigners investing in Vietnam can also look forward to a reduction in corporate tax in the next few years from the current 28 per cent to a possible 25 per cent. Other attractive factors to invest include political stability and a competitive labour force. Last year, Vietnam attracted US$71 billion (RM231 billion) in foreign direct investment, with Malaysia being one of the top 10 investors.

Excluding the US$10 billion and US$2 billion (RM32.6 billion and RM6.52 billion) investments committed by Berjaya and Gamuda respectively, there are now 232 projects by Malaysian companies in Vietnam valued at US$1.86 billion (RM6.06 billion).

Recent positive changes in regulations governing the real estate market - on top of the country's accession into the World Trade Organisation - have stimulated the boom. And nowhere is demand for quality developments greater than in large cities such as Hanoi, Ho Chi Minh City, Hue, Da nang and Hai Phong - which are the focus of foreign real estate investors.

Last but not least, Vietnam - with its open market policy, like China - allows 100 per cent foreign ownership, except for projects that are of national interest.


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Posted Date: January 17, 2008 12:00:00 AM
UM Land targets upmarket developments

To cater to increasing demand from local and Singaporean buyers, United Malayan Land Bhd (UM Land) plans to introduce more upmarket residential properties for future launches at its Seri Austin township.

Sales and marketing senior manager Ivan Chooi Kin Pheng revealed that part of the future developments would include bungalows, priced from RM1 million each. This is in tandem with UM Land's strategy to re-position itself as the high-end property company of choice, in Johor Bahru.

Speaking to reporters after the recent launch of 54 units of Arista Tropical Homes and 64 units of Vanda Cluster Homes, Chooi also added that the property value in southern Johor is likely to appreciate, in years to come.  The double-storey link Arista has built-up areas from 1,822 sqfpriced from RM218,640; while the semi-detached Vanda offers 2,255 sqf area from RM288,000.

UM Land shall also be advertising the properties in its new township through the mass media, in Singapore. As Singapore-based CapitaLand Ltd owns a 21.58 per cent stake in UM Land, the company is in a good position indeed to attract more buyers from the republic.

Launched in 2005, the 202.42ha Seri Austin township in Tebrau has to date chalked up RM134 million in sales.


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Posted Date: January 16, 2008 12:00:00 AM
YTL's d6 boutique offices a sell-out success

YTL Land & Development Bhd recorded 90 per cent take-up for d6, the latest edition of its boutique offices in Sentul West & Sentul East, Kuala Lumpur. More impressive was the fact that this record sale took place in just one day, during a weekend preview.

The 80-unit d6 boutique offices are interlinked to d7 through a sky bridge that stretches over Jalan Sentul. And d7 - Sentul's first commercial project, launched four months ago - was an equal sell-out success amongst investors and buyers.

Featuring cutting-edge duplex offices, boutique offices with retail and food and beverage outlets, lush landscaping, water features and artistic sculptures in the atrium area, d6 is built over RM100 million worth of freehold land. Units range from 1,091 to 3,758 sqf in size, and are priced from RM450 psf.

YTL Land executive director, Datuk Yeoh Seok Kian, was naturally delighted with the response. He remarked that despite a 20 per cent increase in price from d7, YTL 'has continued to sustain the interest of the market with d6, (therefore) proving the underlying strength of Sentul as KL’s next thriving commercial hub'.

The d6 boutique offices offer buyers and investors three types of attractive layouts: Sky Offices, which are duplex units with features such as glass skylights and an internal courtyard; Garden Offices with a landscaped garden terrace in every unit; and Office Suites that come with their own pantry, store and column-free layout.


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Posted Date: January 16, 2008 12:00:00 AM
Guocoland to increase landbank

Guocoland (Malaysia) Bhd plans to buy a piece of freehold land, measuring 3,030 sqm in Kuala Lumpur's Changkat Kia Peng area. The company also intends to acquire two bungalows in the same district, which will bring its total investment in Changkat Kia Peng to RM56.48 million.

To fund the purchase, GuocoLand shall be utilizing its internal funds, coupled with borrowings. In a statement released to Bursa Malaysia, the company envisages this deal to help increase its landbank for development.


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Posted Date: January 15, 2008 12:00:00 AM
Local real estate sector remains bullish

Malaysia's property sector is expected to remain on the upside for the next few years, backed by a healthy market.

Speaking at the opening of the Malaysian Annual Real Estate Convention 2008 (MAREC 08) on Saturday, organising chairman Siva Shankar commented that the scenario is likely to continue - despite the increase in real estate prices throughout the country - especially in prime locations.

In fact, there are estimatedly more than 3.9 million residential units, 320,570 shops, 8.12 million sq ft retail space offered by 596 complexes and 14.7 million sq ft office space still unsold in the country.

Siva noted that since January 2007, demand for properties has gradually shifted to high-end ones, and this has helped raise their value by 30 to 40 per cent. Popular vicinities for such properties include the Kuala Lumpur City Centre (KLCC), Mont' Kiara, Bangsar and Damansara in the Klang Valley.

Meanwhile, Malaysian Institute of Estate Agents (MIEA) president, K. Soma Sundram advised Malaysian real estate agents to forge smart partnerships with their foreign counterparts to tap the regional property scene. He went on to add that local agents should not only focus on the local market, but also take the opportunity to create a `regional brand' through such partnerships.

K. Soma Sundram cited Vietnam and Cambodia as examples of ASEAN countries that require the expertise and experience, which Malaysian property players can offer.

MAREC 08 was officiated by Housing and Local Government Minister Datuk Seri Ong Ka Ting.


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Posted Date: January 15, 2008 12:00:00 AM
Tan & Tan expands niche residential property market

Tan & Tan Developments Bhd - a wholly owned unit of IGB Corp Bhd - is expanding its niche residential property market, by launching new lifestyle products in the Kuala Lumpur City Centre and Klang Valley suburbs.

The company plans to launch 11 upmarket projects throughout the Klang Valley over the next two years, with a total gross development value (GDV) of RM2.5 billion. According to Tan & Tan executive director, Teh Boon Ghee, the company's 'focus will be on key and new growth areas such as the Kuala Lumpur City Centre (KLCC) vicinity, Ampang Hilir, Wangsa Maju, Desa Pandan, Mid Valley City and Sungai Buloh, where there is a lot of infrastructure development'.

He went on to add that the robust residential property market - especially for high-end residences in the Klang Valley - offered developers with good track records the opportunity to further add value to the local residential landscape.

With Malaysia fast emerging as a competitive real estate destination, there is growing foreign interest in local real estate. Hence, the onus is on developers to come out with more well designed and quality products that offer high investment values. Last year, some 8,000 foreigners participated in the programme, with over 1,700 people making Malaysia their second home - and these figures look set to increase over time.

Teh also revealed that Tan & Tan would launch more innovative lifestyle products to take advantage of the strong interest for residential properties in robust locations and new growth areas. The company is also taking steps to consolidate its premium branding through positive customer experience, and provide value and security for all its projects in the mid to high-end segments.

Meanwhile, Tan & Tan general manager of group marketing, Kevin Kuok, touched on one of the developer's latest attractions - Hampshire Place, which comprises service residences and corporate offices-cum-retail space - to be launched in March. The 30-storey block of 186 service residences will feature residences with built-up areas from 764 to 3,257 sqf; priced from RM674,000 to RM1.3 million.

Another 30-storey block will accommodate 219,222 sqf of corporate offices and retail space, worth a GDV of RM188mil.

Besides being one of the leading players in the luxury condominium market, Tan & Tan's portfolio of ongoing projects include five luxury condominium developments and service residences, and a gated community project. Some of the projects planned for launch in the next two years include three landed villa projects in Sierramas West and Wangsa Maju and two service residences with shop offices.

The company is also making efforts to expand its land bank through more joint ventures and new land acquisitions. Teh said that since the amendment of the Strata Titles Act last year that allowed landed strata title developments, Tan & Tan was looking at building more such projects.

Among the company's upcoming landed strata title projects is Sierramas Mews that will comprise 17 landed villas with a GDV of RM32 million. Other projects will be on 25 acres in Ulu Klang/Dataran Ukay and 37 acres in Melawati - all located within the Klang Valley.


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Posted Date: January 14, 2008 12:00:00 AM
Market players convene at MAREC 08

The Malaysian Institute of Estate Agents (MIEA) organised and hosted the Malaysian Annual Real Estate Convention 2008 (MAREC 08) at the Sime Darby Convention Centre in Mont' Kiara recently, from 11 till 13 January.

This annual event brings together real estate practitioners - including property agents, developers and financial institutions - under one roof.  Dato' Seri Ong Ka Ting, Minister of Housing & Local Government, was the Guest of Honor at this year's MAREC 08. Officiating the event on 12 January, the Honorable Minister expressed his satisfaction at the various benchmarks and standards attained by the MIEA and property developers, thus far.

"Regionalising the Malaysian Market - The Reality of Getting There" was this year's theme, based on the unprecedented growth currently experienced by the ASEAN property market in general - and Malaysian property market, in particular. With foreign direct investment and liberalized policies attracting more and more foreign investors towards Malaysian real estate, the Convention aspired to open minds into the vast business opportunities, available in the Southeast Asian region.

Featured speakers who shared their wealth of experience and expertise with delegates included John Pinson, chief executive officer of John D. Pinson Inc in the US; Willson Kalip, resident director of Knight Frank/PT in Indonesia; Marc Townsend, managing director of CB Richard Ellis (Vietnam); and renowned local mapper and property analyst, Ho Chin Soon of Ho Chin Soon Research Sdn Bhd.

MAREC 08 was sponsored by OCBC Bank, American International Assurance (AIA), iProperty.com, Expat Furniture Rental Sdn Bhd, Supex Mortgage Reduction Sdn Bhd and Exhibition Guide International.


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Posted Date: January 14, 2008 12:00:00 AM
Malaysian Investment Fair heads to Singapore

Based on recent global comparisons, Malaysia’s prime properties are amongst the lowest-priced in the world. Indeed, many property experts note that the country is fast becoming the next property investment hub in Asia amongst international investors. One of the foremost reasons behind Malaysia’s rise to prominence in the international property scene is the potential for capital gains.

These facts and beliefs form the platform for the Malaysia & International Prime Properties Investment Fair, a prime property event to be held at SUNTEC Singapore on 19 and 20 January 2008. BW Cyans Advertising Sdn Bhd shall be organising this two-day property exhibition that offers an excellent opportunity especially for established Malaysian developers to showcase their prime development projects to Singaporean and international property hunters. This exhibition features 100 booths at the SUNTEC Singapore International Convention & Exhibition Centre, showcasing various types of prestigious residential and commercial projects by prominent names in the Malaysian property industry and from overseas.

BW Cyans managing director Charles Yong is naturally excited, as his company prepares to organise this fair.

“We see our country as a huge potential real estate market for Singaporeans and other international investors,” said Yong. “Singaporeans are now looking elsewhere to buy properties because their limited land has caused real estate prices to escalate to a record high. Just across the causeway from where they are, we have a great supply of good quality properties that are dirt-cheap in their currency value," he added.

To illustrate his point, Yong quoted the price of a high-end condominium on Singapore’s Orchard Road at S$4,000 (approximately RM9,206) psf, compared to only 10 per cent of that price for a luxury condo in the Kuala Lumpur City Centre (KLCC).

The recent incentives provided by the Malaysian Government with regard to foreign property ownership are additional plus-points for Singaporean and international investors to look into Malaysia.  These include the easing of existing rules restricting foreign ownership, abolition of Real Property Gain Tax and the introduction of the “Malaysia, My Second Home” (MM2H) Programme. Yong duly summarises his points by remarking: “Malaysia is an ideal choice for Singaporeans due to its close travelling distance, good infrastructure and road system, political stability and familiarity with local culture & languages. This property event provides and excellent avenue to sell to potential Singaporean buyers as well as other foreign investors.”

Property talks by distinguished and knowledgeable Malaysian speakers will be the highlight of the Malaysia & International Prime Properties Investment Fair. Speakers include Ho Chin Soon of Ho Chin Soon Research Sdn Bhd, Michael Geh of Raine and Home International, Juanita Chin of Elite Properties, and Jaslyn Sim of Richmond Consultants (MM2H) Sdn Bhd amongst others. Over the Fair’s two-day duration, visitors and participants can look forward to a diverse strata of topics; ranging from “Property Hot Spots In Malaysia” to “Malaysia, My Second Home Programme" and many others.

Established developers and real estate agents, in particular, should not miss this major prime property event. There are limited booths still available for interested participants. BW Cyans is also the organiser of the Modern Home & Property Fair in Kuala Lumpur, where a string of three successful shows draw daily huge crowds. For more information on the Malaysia & International Prime Properties Investment Fair, call 603-7980 4321 / 7891 1725 / 012-281 8266 or email bwcyans@gmail.com / info@bwcyans.com.


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Posted Date: January 11, 2008 12:00:00 AM
Raising the profile of Malaysian properties, overseas

Come this spring, local property developers will be heading overseas to showcase their products in a series of exhibitions, abroad.

Renowned property consultant, Henry Butcher Malaysia (Penang) Sdn Bhd, is spearheading an investment delegation to the UK in April, joined by 10 Malaysian developers. In doing so, Henry Butcher Malaysia will be collaborating with Malaysia Airlines (MAS) and Kuala Lumpur-based The Expat Group.

According to chief executive officer Dr Teoh Poh Huat, the property consultant is 'targeting affluent individuals and private equities in the UK'. Dr Teoh was speaking to reporters after attending a half-day seminar on "Branding Malaysia as a Destination For Property Investment and As a Second Home" in Penang, on Tuesday.

He also added that the property mission from 25 to 27 April will constitute part of the "A Place In The Sun" property exhibition in London. "A Place in the Sun" is a British daytime lifestyle programme about buying property abroad, which usually focuses on places in southern Europe. In recent years, however, the programme has also featured a number of places in other areas of the world, as the tastes of British homebuyers become more and more diversified.

Apart from the UK, Henry Butcher is also eyeing markets like Germany, Dubai, Hong Kong and Singapore to promote Malaysian properties.  "Our efforts in showcasing Malaysian properties in Indonesia last year had already seen about 40 buyers from Sumatera snap up RM10 million worth of Penang properties," Dr Teoh revealed.

In 2007, MAS's holiday marketing arm - Golden Holidays - collaborated with Henry Butcher in Penang to launch the "Property Investment and 2nd Home" (PI2H) programme. The programme, designed to lure more foreigners to invest in Penang properties, is targeted to lure 7,500 foreigners to Penang every year.

Wan Mohd Ebrahim Wan Hasnan, MAS area manager (northern region) was optimistic in his outlook: "We expect to double this figure within four to five years and eventually register an estimated 25,000 foreigners per year to Malaysia under this programme." 


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Posted Date: January 09, 2008 12:00:00 AM
Malaysia among top choices for property investments

The iProperty.com Group, Asia’s leading network of property portals and owner of Malaysia’s No. 1 property and real estate website, today unveiled Part 1 of the results of its online Asia Property Trends Survey 2007. The Survey interviewed 2,066 local and overseas property buyers looking for investment opportunities in Asia.

The results will be released in two parts in Malaysia: Part 1, released today, reveals findings on foreign investors of Malaysian property and Part 2, which will be released later this month, will focus on the investment behaviour of local buyers.

One of the most prominent findings was that Malaysia, alongside Singapore and Thailand, features amongst investors’ top choices for property investments. 

Fifty-five per cent of foreign respondents indicated that they were hunting for high-end or luxury properties in the US$100,000 to US$500,000 price range. In fact, 15 per cent said that they were keen to invest in property ranging from US$500,000 to US$1 million. A clear indication that they were serious and experienced investors was the fact that 34 per cent had bought at least one property over the past 24 months, with 23 per cent having purchased two or more properties in the same period.

Ninety-five per cent of those surveyed said that they intend to purchase property within the next 12 months, which strongly points to the fact that they are on an active hunt for investment opportunities. The foreign respondents strongly favour high-rise dwellings, with 55 per cent and 39 per cent voting for completed and newly-launched condominium units respectively.

The typical overseas property investor is a professional or senior executive (49 per cent), with an annual household income of well over US$40,000 (58 per cent). 

Commenting on the findings of the iProperty.com survey, Patrick Grove, executive chairman of the iProperty.com Group said, “The iProperty.com survey results have confirmed the fact that there is a lot of foreign interest in Malaysian property. These foreign buyers have big budgets and are actively looking for high-end property investment opportunities here. This is quite a pleasant surprise actually, and it definitely augurs well for Malaysia’s property market as well as the `Malaysia My Second Home’ (MM2H) Programme, launched by the Government to attract skilled, affluent foreign property investors to Malaysian shores.” 

The Survey also found `location’ to be the single most important factor property investors consider, at 2.5 times more important than the second most critical factor, price. How `friendly’ a country’s policies are to foreigners ranked third amongst the checklist of factors. Perhaps most surprising of all is the finding that as many as 37 per cent of those interviewed said that they would be willing to consider purchasing a property, without actually viewing it first.

The Internet is their primary property search tool

Sixty-seven per cent of foreign property investors said that the Internet is the first tool they turn to when initiating their hunt for viable properties in their country of choice. When asked what they relied on most for updates on properties available for sale, 64 per cent indicated the Internet.

The Internet featured prominently as the tool of choice, with 95 per cent of overseas investors using it to hunt for properties available for sale, 56 per cent to research on market trends, 50 per cent to update themselves on the latest property news, 33 per cent to research on developers, and 23 per cent to look for real estate agents.

Grove added, “We are pleased to learn that an overwhelming proportion of foreign investors use the Internet as their primary property search tool due to the rich and up-to-date content, accessibility, convenience and speed it offers. iProperty.com is committed to further enhancing our websites’ content and product offerings to serve them even better.”


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Posted Date: January 08, 2008 12:00:00 AM
SunCity condo acquired by Mideast fund

Malaysian conglomerate Sunway City Berhad (SunCity) recently concluded the sale of the Sunway Pallazzio Block B Condominiums for an estimated RM220 million, to a firm linked to a Middle Eastern fund. According to sources, Radiant Splendor Sdn Bhd, a special vehicle affiliated to the fund, is the buyer of the property which is currently under construction. The 80-unit super luxury condominium in Sri Hartamas, Sunway Pallazio was purchased at around RM750 psf. It is due to be completed in 2010.

The sale draws attention to Malaysia’s property market, which has been booming since the government lifted a sales tax and made it accessible for foreigners to own property.

With this sale, Suncity could save up to RM10 million in promotional and marketing costs, said the source.The notification is set to be made this week.

When contacted, Suncity’s chief financial officer Koong Wai Seng declined to comment on the deal. However Koong noted that Suncity has completed its first collective sale – the Sunway South Quay deal with a South Korean investor – on 27 December 2007.

The Sunway South Quay - a 249-unit luxury condominium - was sold for RM170 million to Luxury Court Sdn Bhd, a joint venture between property developer CI Korea and Daol Fund.

Established in June 2006 with a US$310 million (RM1.02 billion) real estate fund, Daol Fund is South Korea’s First Real Estate Asset Management Specialists with US$10.7 billion (RM35.1 billion) asset under its management. It is backed by South Korea’s four top-tier banks and two major securities firms including Worri Bank, Hana Bank and National Agricultural Cooperative Federation Bank.

The Sunway South Quay Korea community will be a twin city of the the US$337 million (RM111 billion) HongCheon Senior Leaders country project under development.

"With the Daol Fund (in the picture), the likelihood of the option given to CI Korea to purchase another enbloc property next to the first property has increased," Koong said, adding that the price tag on the option is around RM200 million.


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Posted Date: January 07, 2008 12:00:00 AM
Mah Sing to tap growth of IDR

Mah Sing Group Bhd announced its plans to establish its foothold in the Iskandar Development Region (IDR), by developing a mixed development project with gross development value (GDV) of RM157.8 million.

According to group managing director Datuk Seri Leong Hoy Kum, in a statement released on 3 January 2007: “Strong economic and population growth expected under the IDR should spur demand for housing in the area. Johor has the second largest property market in Malaysia with 12 per cent of property transactions in 2006, and the second largest housing demand under the Ninth Malaysia Plan."

The new project, called Sri Pulai Perdana 2, will be developed on 24,084ha freehold land worth RM21 million. And Mah Sing sees a lot of upside in terms of the group's premium branding, proven track record and good locations, not to mention the IDR and Singapore two integrated resorts that are expected to spur the economy further.

Leong said the expansion will also allow Employees Provident Fund contributors to make monthly withdrawals for financing one house from this year, in tandem with the Government's Budget 2008 initiatives. Such a move could unleash almost RM9.6 billion annually into the property industry - allowing home buyers to afford homes costing 20 per cent more than previously.

Mah Sing currently has 15 projects with a remaining GDV of RM3.199 billion. The group also has unbilled sales of RM1.077 billion - representing a total GDV of RM4.276 billion - which will ensure earnings visibility for seven years.


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Posted Date: January 04, 2008 12:00:00 AM
UEM & Khazanah upbeat on Nusajaya and IDR success

UEM World Berhad, through its subsidiary UEM Land Sdn Bhd (UEM Land), yesterday expressed optimism at the progress of the Nusajaya regional city in Johor.  

Speaking in Kuala Lumpur, UEM Land chief executive officer, Wan Abdullah Wan Ibrahim, unveiled how Nusajaya - currently home to a population of 100,000 - is set to catalyse the growth of Peninsula Malaysia's southernmost state of Johor, by 2011. According to Wan Abdullah, Nusajaya's development will be boosted by the completion of the Johor state administrative centre, which is due for occupation in the first quarter of 2008.

He went on to touch on other development centres, including the industrial and logistics cluster, the industrial development for advance technology corporations - which the company began selling this year - and its three residential developments. Nusajaya will also house three main residential projects — Horizon Hills, Nusa Idaman and Puteri Harbour — with a gross development value (GDV) of RM4.55 billion. Horizon Hills has a GDV of RM2.6 billion, Nusa Idaman RM450 million and Residential North precinct of Puteri Harbour RM1.5 billion.

Nusa Indaman, which comprise medium cost housing, has been completed. UEM Land now looks forward to the addition of other new mega-projects, such as the international resort that will house the theme park and medical city. 

Echoing Wan Abdullah's sentiments was Khazanah Nasional Bhd managing director, Datuk Azman Mokhtar.  He was confident that the Iskandar Development Region (IDR) - which requires an investment of US$105 billion (RM351.75 billion) over a 20-year period - would witness more activities from 2008 onwards.

Azman also divulged that to-date, three blue chip, Gulf-based investors were already pumping in US$12 billion for land and basic infrastructure in the IDR. Khazanah is currently wooing investors from China, India and other countries to participate in other key catalyst developments in this new region.

Furthermore, negotiations with the Singaporean government in identifying mutually beneficial areas of development - including a Smartcard system, common Customs, Immigrations and Quarantine (CIQ) and potential MRT and transportation links, are ongoing.

Unsurprisingly, Azman is upbeat on the benefits the IDR stands to offer, noting the considerable progress made over the previous year.


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Posted Date: January 02, 2008 12:00:00 AM
E&O launches luxury seafront villas in Penang

E&O Property Development Bhd (E&O) is offering exclusive luxury seafront living with its latest launch, Villas By-The-Sea within Seri Tanjung Pinang on Penang Island.

Launched on 15 December 2007, Villas By-The-Sea is the result of a joint-venture between E&O Property, Al Salam Bank of Bahrain and CIMB-Mapletree Real Estate Fund 1 Sdn Bhd.

Stretching over 15 acres of freehold land, with 750 metres of sea frontage, it is one of Penang Island’s largest seafront developments. The project is located minutes’ drive from Gurney Drive, Penang’s premier seafront promenade which is lined with restaurants, shops and recreational areas.

The exclusive villas with Caribbean-inspired architecture are priced from RM2.75 million to RM7.5 million and scheduled for completion in mid 2009.

There are three different types of villas on offer: Martinique, Abrezza and Skye stretching over 15 acres of freehold land, with a total of 750 metres of frontage facing the Andaman Sea and Straits of Malacca, offering discerning buyers clear views of the sea.

While the Martinique villas are located right by the sea, the Abrezza and Skye villas are located just beyond with equally inviting views. All three types of villas have unique layouts that encourage interaction between the indoor and the outdoor with generous windows, high ceilings, spacious terraces and verandas adding to the charm and allure of the villas.

Modelled after the Caribbean-style plantation mansions, the Martinique two-storey villas comprise five plus one room with built-up areas from 9,043 sqf. These villas offer sea frontage of up to 24 metres, with spectacular views of the sea from the pavilion, bedrooms and dining room. The spacious guest pavilion, another unique feature, gives homeowners unobstructed views of the pool, garden and sea.

Abrezza three-storey villas comprise six plus one rooms with built-up areas of 5,332 sqf and are designed with balconies, patios and terraces wrapping the villa on all four sides. The grand living room is designed for entertainment, while the master bedroom has a spacious hotel style master bathroom with a long bath and equipped with premium Kohler sanitary fittings.

The three-storey Skye villas comprise five plus one bedrooms with built-up areas of 5,193 sqf for intermediate units and 5,283 sqf for corner units. The unique façade creates airiness with tall windows and generous double-volume living spaces. The dining area opens out into the garden, ideal for alfresco dining while a suspended walkway on the third floor overlooks the family room.

Reflecting the Caribbean theme, the living/dining and dry kitchen areas of all the villas are laid with imported Italian Botticino marble while the luxurious bedrooms and guestrooms are covered with high-end Burmese teak flooring.

All rooms come with en-suite bathrooms, with the master bedroom covered in Arabescarto marble. The kitchen is equipped with a modern kitchen cabinet system and state-of-the-art appliances including an open concept dining and living area perfect for intimate parties and grand functions. 

The exquisite villas are part of Phase 1 of Seri Tanjung Pinang conceptualised by renowned architectural firm Wimberly Allison Tong & Goo, and designed by local architect GDP whose portfolio includes Hampshire Park and The Ascott in KL and the restoration of the Eastern & Oriental (E&O) Hotel on Penang Island.


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Posted Date: December 05, 2007 12:00:00 AM
iProperty.com acquires Hong Kong’s No. 1 property portal

The iProperty.com Group, Asia’s leading network of property portals and owner of Malaysia’s No. 1 property and real estate website has announced that it has completed the acquisition of www.GoHome.com.hk, the leading online portal for Hong Kong property.

This follows the successful launch of iProperty.com’s Singapore portal, which is already the leading portal for Singapore property with over 200,000 current and archive listings and over 80% of agencies providing their listings to the service.

The GoHome network’s websites power the Yahoo Hong Kong real estate channel and include GoHome.com.hk, House18.com and other related websites. The GoHome network is No.1 both in terms of number of listings and user traffic in the Hong Kong market, as measured by ComScore.

The GoHome sites, which are Chinese language based but also available in English, reach over 45% of all unique Hong Kong internet users looking for property online each month, a result that is more than four and a half times better than the nearest competitor. In total, over 578,000 unique users view GoHome network property listings each month.

The GoHome network is currently profitable and cashflow positive.

Patrick Grove, executive chairman of iProperty.com, noted, "We are on track to build a regional powerhouse for online property via our network of the leading portals in Malaysia, Singapore, the Philippines and now Hong Kong.  We offer more property listings than anyone one else in Asia. With over 750,000 unique users per month looking for property to buy or rent across our network, we are clearly a leader in the space.”

“Our experience in Singapore and Malaysia makes it far simpler for us, as a regional player, to integrate the GoHome network of sites into our organisation. With the booming Asian property market, more investors are looking to buy properties overseas. By utilising our network of sites, investors in Hong Kong can now easily access properties in Singapore and Malaysia, and vice versa with the click of a mouse,” he said.

“Not only does GoHome enjoy a significant leadership position in the Hong Kong online property market, it also represents an exceptional strategic acquisition for our company. Hong Kong is a unique place, with the highest broadband internet penetration in the world, and a unique property buying and investing culture. iProperty.com sites and listings are now viewed by over 754,000 unique users in Asia Pacific each month,” he added.

The acquisition of the GoHome network sees iProperty.com add to its market-leading online property operations in Singapore, Malaysia and the Philippines, and represents its first acquisition since its listing on 11 September 2007.

Also in line with this regional expansion push, the Group recently acquired the “iProperty.com” domain name. iProperty.com is already synonymous with leading property websites in both Malaysia (iProperty.com.my) and Singapore (iProperty.com.sg). With the acquisition, the Company’s network of regional websites will be unified under the iProperty.com brand umbrella, and this will serve to strengthen its brand identity and position it strongly to tap on growth opportunities as it continues to seek further strategic acquisitions of leading property portals throughout regional markets.

“Home buyers who use iProperty.com sites in both Singapore and Malaysia already know that we represent the most effective way for people to research, find and ultimately buy properties. By re-branding our portals in Philippines, and subsequently Hong Kong, we are effectively communicating one key message - that all sites under the iProperty.com umbrella are going to give the same comprehensive, reliable and up-to-date property information,” Grove said.

“The goal now is to consolidate our market leadership in each country and translate this into regional dominance,” he added. “We want iProperty.com to be the first website people think of when they are looking for a one-stop online “shop” through which to research and buy Asian properties.”


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Posted Date: December 04, 2007 12:00:00 AM, By: Milan Doshi
Milan Doshi shares how you can be a Millionaire Property & Stock Investor... right here in Malaysia

Milan Doshi shares how you can be a Millionaire Property & Stock Investor... right here in Malaysia

Malaysians get to partake in the advice and tips to be shared by Property & Wealth Management Guru, Milan Doshi in December 2007!
Dec 4, 2007

Don’t miss this golden opportunity to improve your financial IQ and start making money right now.

During the three day event themed “How You can be a Millionaire Property & Stock Invest

or... right here in Malaysia”, Milan Doshi, Independent Financial Trainer and Best Selling Author of  “How You Can Become a Multi-Millionaire Real Estate Investor!”, will be sharing valuable tips and insights to upgrade your financial and investment skills and develop a millionaire mindset.

The event is a “must-attend” especially for those who want to discover the right property and stock investment strategies to suit your unique investment profile and learn how to deal with bankers, property negotiators, sellers, tenants and understand the legal and tax issues in property investments.

The venue for the event is Federal Hotel, Jalan Bukit Bintang, Kuala Lumpur from 14 to 16 December 2007. For ticket purchase (normal price: RM 4,500/pax) and inquiries, please contact 019-227 7645 / 012-233 2898 (Michael); Fax: 603-2056 3260; email: arc888@gmail.com

iProperty.com subscribers can enjoy a special discount to this three day event. Discounted prices are RM3,480/pax and RM2,480/spouse. Hurry and enroll now. Only limited seats available. For further details, visit: http://www.milandoshi.com/upcoming_programs.php

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Latest Property News:
  • PKFZ paid market price for Pulau Indah land (Jan 6, 2009)
  • Singapore Property Update (Jan 5, 2009)
  • Glomac Q2 net profit down 24% (Dec 31, 2008)
  • Putera Capital bids for RM9b jobs despite financial troubles (Dec 19, 2008)
  • Mulpha raises stake in Australia’s FKP Property (Dec 18, 2008)

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    Posted Date: November 28, 2007 12:00:00 AM
    Property developer Mah Sing sells two more Icons

    Property developer Mah Sing sells two more Icons

    Property developer Mah Sing Group has announced the sale of two more of its commercial properties in Kuala Lumpur to Kuwait Finance House (KFH) and Autron Corp Ltd for RM560 million.
    Nov 28, 2007

    Property developer Mah Sing Group has announced the sale of two more of its commercial properties in Kuala Lumpur to Kuwait Finance House (KFH) and Autron Corp Ltd for RM560 million.

    This c

    omes within four months of its first en bloc sale of The Icon Jalan Tun Razak (West Wing) to Koperasi Permodalan Felda for RM174.4 million.

    Under the latest deal, Kuwait-listed KFH and Autron Corp with a dual listing in Singapore and Australia will set up a special purpose vehicle, Prompt Symphony Sdn Bhd with 80% and 20% equity stake respectively.

    The two properties sold are The Icon Jalan Tun Razak (East Wing) belonging to wholly-owned unit Star Residence Sdn Bhd for RM255 million and The Icon Mont’ Kiara under Maxim Heights Sdn Bhd for RM305.3 million.

    The former comprises 17 levels of offices and 301 parking bays, while the latter comprises 27 levels of offices, a retail podium and 637 parking bays.

    The company announced that the proceeds will be utilised as working capital and financing of future projects. Mah Sing Group Managing Director Datuk Sri Leong Hoy Kum, said that the group plans to launch Southgate Commercial Centre in Kuala Lumpur and Southbay City in Penang by mid-2008.

    Together the projects have a Gross Development Value (GDV) of RM1.17 billion. The group announced that en bloc sales may be undertaken for the two projects if a good opportunity arose.

    The group reported a remaining Gross Development Value of RM4.12 billion, with unbilled sales accounting for RM1.08 billion, which will ensure earnings for the coming seven years.


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    Posted Date: November 18, 2007 12:00:00 AM
    Putrajaya Perdana launches waterfront bungalow project

    Putrajaya Perdana launches waterfront bungalow project

    Putrajaya Perdana Berhad (PPB) has unveiled D'Heron at the Lakes, a waterfront development of 19 two-storey bungalows in Precinct 16 at Putrajaya.
    Nov 18, 2007

    Putrajaya Perdana Berhad (PPB) has unveiled D'Heron at the Lakes, a waterfront development of 19 two-storey bungalows in Precinct 16 at Putrajaya.

    The development is located on a 6.4-acre p

    lot overlooking Putrajaya Wetlands in Malaysia’s administrative capital. It is adjacent to Precinct 15, the designated diplomatic enclave in Putrajaya where over 43 embassies will move to next year.

    The bungalow homes have lot sizes of approximately 10,000 sq ft to 16,000 sq ft and built–up areas ranging from 4,604 sq ft to 4,897 sq ft.


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    Posted Date: November 15, 2007 12:00:00 AM
    Hunza set for promising results

    Hunza set for promising results

    Hunza Properties Bhd (Hunza) is expected to see better results in the future, taking into account its on-going projects in the luxury sector, and the rapid development experienced in Penang which has lead to a property boom in the state.
    Nov 15, 2007

    Hunza Properties Bhd (Hunza) is expected to see better results in the future, taking into account its on-going projects in the luxury sector, and the rapid development experienced in Penang which h

    as lead to a property boom in the state.

    According to a Kenanga Investment Bank Bhd report, take-up rates for Hunza’s Infiniti and Gurney Paragon projects was higher than other typical properties in Penang mainly attributed to their iconic appeal to buyers.

    Both Infiniti and Gurney Paragon has chalked up impressive take-up rates of 22% each since their respective launch in mid-2007. The report stated that there would be more profit recognition and accelerated sales at Ailila in Tanjung Bunga, Penang and Mutiara Seputeh, Kuala Lumpur as these projects neared completion in the 3rd Quarter of Hunza’s Financial Year (FY) ending 30th June, 2008.

    1Q ended 30 September, 2007 saw Hunza’s pre-tax profits soar 62% toRM18 million driven mainly by higher profit margins for Ailila and Mutiara Seputeh, which recorded impressive take up rates of 85% and 70% respectively.

    Hunza’s unbilled sales of RM194 million from its developments, Ailila, phase one of Gurney Paragon and Infinity, plus semi-detached units and bungalows in Mutiara Seputeh should further strengthen it performance in the next FY.

    << Back to News Index

    Latest Property News:
  • PKFZ paid market price for Pulau Indah land (Jan 6, 2009)
  • Singapore Property Update (Jan 5, 2009)
  • Glomac Q2 net profit down 24% (Dec 31, 2008)
  • Putera Capital bids for RM9b jobs despite financial troubles (Dec 19, 2008)
  • Mulpha raises stake in Australia’s FKP Property (Dec 18, 2008)
  • Write to the editor for editorial enquiry or contribution.

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    Posted Date: November 15, 2007 12:00:00 AM
    KFHMB plans to build Malaysia’s tallest building

    KFHMB plans to build Malaysia’s tallest building

    Kuwait Finance House (Malaysia) Bhd (KFHMB) will be entering into a joint venture (JV) with a local bank to develop the country’s tallest building that is set to overtake the Petronas Twin Towers.
    Nov 15, 2007

    Kuwait Finance House (Malaysia) Bhd (KFHMB) will be entering into a joint venture (JV) with a local bank to develop the country’s tallest building that is set to overtake the Petronas Twin Towers.<

    /P>

    Datuk K Salman Younis, KFHMB’s managing director revealed that it will be a high-end real estate project that will stand taller than the Petronas Twin Towers. The JV with the property arm of a local bank was approved recently, and work on the project is scheduled to commence next year.

    Salman said that the Islamic banking group plans to open two to three new branches in the Iskandar Development Region (IDR) and Taman Molek in Johor early next year. Branches in Penang and Kuching will also be opened within the next three months. The company will also embark on marketing campaigns in Sabah early next year.

    “KFH already has some customers in Sandakan. We plan to build our presence in Sabah,” he said. KFHMB, the first foreign Islamic bank to be licensed by the Ministry of Finance, currently operates two branches in Kuala Lumpur and one in Shah Alam.

    Earlier in August, KFHMB announced it will jointly develop a 902.4ha land in the IDR with Mubadala Development Co and Millennium Development International Co for RM4.2 billion. This will include the building of three clusters - a lifestyle and leisure cluster, a cultural cluster and a financial district in the IDR’s first integrated international city.

    Last week, the company also disclosed plans to collaborate with local real estate investor Prestige Scale Sdn Bhd to fund the RM577 million Glomac Tower project in Kuala Lumpur. Construction works is slated to start soon and the project is expected to be completed within two-and-a-half years.

    According to recent reports, the Islamic bank is in discussions with investors from Australia, China, Indonesia, Singapore and the Middle East to jointly develop its 252.5ha plot of land in Bandar Nusajaya, near the Johor State New Administrative Centre project in the IDR.


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    Posted Date: November 14, 2007 12:00:00 AM
    Quill Capita reports net profits of RM4.9m for 3Q

    Quill Capita reports net profits of RM4.9m for 3Q

    Quill Capita Trust Bhd, a real estate investment trust (REIT) declared RM4.9 million in net profits or 1.66 sen per share for the third quarter ended 30th September, 2007, along with a revenue of RM7.39 million.
    Nov 14, 2007

    Quill Capita Trust Bhd, a real estate investment trust (REIT) declared RM4.9 million in net profits or 1.66 sen per share for the third quarter ended 30th September, 2007, along with a revenue of R

    M7.39 million.

    Net profits for the cumulative nine-month period amounted to RM12.21 million or 4.74 sen a share, while revenue stood at RM19.31 million. The sum of dividends declared during the period amounted to 3.99 sen per share. Net assets stood at RM1.06 per share as at 30th September, 2007.


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    Posted Date: November 14, 2007 12:00:00 AM
    Berjaya Land purchases luxury hotel in Vietnam from Tradewinds

    BLand Purchases luxury hotel in Vietnam from Tradewinds

    Berjaya Land Bhd (BLand), a unit of Malaysian conglomerate Berjaya Corp Bhd, will buy the 359-room five-star InterContinental Hanoi Westlake Hotel from Tradewinds Corp Bhd under a US$75 million (RM253.5 million) deal.
    Nov 14, 2007

    Berjaya Land Bhd (BLand), a unit of Malaysian conglomerate Berjaya Corp Bhd, will buy the 359-room five-star InterContinental Hanoi Westlake Hotel from Tradewinds Corp Bhd under a US$75 million (RM

    253.5 million) deal. Through the acquisition, the company intends to capitalise on the shortage of luxury hospitality units in the fast-growing Indo-Chinese nation.

    The hotel, which is located on the shores of Hanoi's West Lake, will be managed by InterContinental Hotel Group, a global hospitality entity, with more than 3,700 hotels across nearly 100 countries in its portfolio.

    BLand chief executive Datuk Francis Ng said in a statement, "It gives us the opportunity to participate in the growth of the Vietnamese tourism industry."

    Signed last week, the deal will see BLand's wholly-owned Berjaya Leisure (Cayman) Ltd buying the entire stake in Tradewinds Corp's unit T.P.C. Development Ltd for US$25 million (RM84.5 million). T.P.C. owns 75 per cent of InterContinental Hanoi Westlake Hotel. The deal, which is expected to be completed by March 2008, will be financed via a combination of internal funds and bank loans.

    Berjaya Leisure will also assume US$50 million (RM169 million) worth of inter-company debts owed by T.P.C to its parent Tradewinds Resources Sdn Bhd which, in turn, is entirely owned by Tradewinds Corp.

    According to research firm ECM Libra Avenue, BLand has RM37.2 billion worth of overseas real estate contracts in China, Thailand and Vietnam.


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    Posted Date: November 12, 2007 12:00:00 AM
    DNP to launch five property projects in KL and Penang

    DNP to launch five property projects in KL and Penang

    DNP Holdings Bhd will be launching five property projects in Kuala Lumpur and Penang next year. These projects are expected to be major contributors to its revenue for financial years 2008 and 2009.
    Nov 12, 2007

    DNP Holdings Bhd will be launching five property projects in Kuala Lumpur and Penang next year. These projects are expected to be major contributors to its revenue for financial years 2008 and 2009

    .

    For the year ended June, the property arm contributed about 30 percent to the group's RM425 million revenue.

    According to general manager Lee Kong Beng, three of these projects will be located in Jalan Ampang, Jalan U-Thant and Bukit Ceylon in Kuala Lumpur. Menara DNP, a high-end condominium project in Jalan Ampang, will be built on a 1.5-acre site and will comprise of 200 units. A French architect has been engaged to design the project.

    The Jalan U-Thant project will be a low-rise 30-unit condominium block on a one-acre site and the project in Bukit Ceylon will comprise of four condominium blocks offering 420 units on a 2.67-acre site.

    Commenting on the projects in Penang, Lee said that they will launch at least two on the mainland and island, that will comprise medium and high-end landed residential properties.
    On the retail business segment, Lee said another 18 retail outlets in Kuala Lumpur selling the group’s fashion labels such as Topshop, Topman and Dorothy Perkins will open by the end of next month. This will bring its total number of fashion retail stores in Malaysia to 50.

    For the first quarter ended Sept 30, the group posted a pre-tax profit of RM15.6 million on the back of a turnover of RM96 million turnover, compared with a pre-tax profit of RM10.9 million and RM79 million revenue previously.


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    Posted Date: November 07, 2007 12:00:00 AM
    UOA REIT acquires RM86mil property

    UOA REIT acquires RM86mil property

    UOA Asset Management Sdn Bhd, manager of UOA Real Estate Investment Trust (REIT), is buying Wisma UOA Pantai from UOA Holdings Sdn Bhd for RM86mil.
    Nov 7, 2007

    UOA Asset Management Sdn Bhd, manager of UOA Real Estate Investment Trust (REIT), is buying Wisma UOA Pantai from UOA Holdings Sdn Bhd for RM86mil.


    Located in front of Menara TM along Jalan Pantai Jaya in Kuala Lumpur, the property comprises a five-storey building with two mezzanine floors and has three basement parking levels and 272 parking bays.


    The building was completed in the second quarter of this year and has a net lettable area of 157,481 sq. ft.


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    Posted Date: November 06, 2007 12:00:00 AM
    Bertam Properties sells RM150mil land

    Bertam Properties sells RM150mil land

    Bertam Properties Sdn Bhd has sold land worth RM150million in Bertam, Kepala Batas, to five educational institutions.
    Nov 6, 2007

    Bertam Properties Sdn Bhd has sold land worth RM150million in Bertam, Kepala Batas, to five educational institutions.

    According to its group chief executive officer Datuk Roslan Ibrahim, t

    he institutions were Universiti Sains Malaysia (USM), Universiti Teknologi Mara (UiTM), Nursing College, Penang International Dental College and Alliance College of Medical Science.

    He said that construction of these institutions is expected to commence within two years.

    UiTM will be built on a 91.8ha plot, Nursing College on a 20.2ha plot, Penang International Dental College on a 4ha plot and Alliance College on a 10.1ha plot.


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    Posted Date: October 30, 2007 12:00:00 AM
    Aeon purchases land From SP Setia

    Aeon Purchases Land From SP Setia

    Aeon Co (M) Bhd has signed a sale and purchase agreement with SP Setia Bhd's subsidiary Bukit Indah (Johor) Sdn Bhd to buy a 15.2-hectare plot of land in Pulai, Johor
    Oct 30, 2007

    Aeon Co (M) Bhd has signed a sale and purchase agreement with SP Setia Bhd's subsidiary Bukit Indah (Johor) Sdn Bhd to buy a 15.2-hectare plot of land in Pulai, Johor for RM106.97 million. The land

    is located within the Bukit Indah Johor township. Aeon, which operates Jusco stores in Malaysia, plans to build a shopping centre on the purchased land.


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    Posted Date: October 30, 2007 12:00:00 AM
    Zecon To Develop RM2 Bil Project in Sarawak

    Zecon To Develop RM2 Bil Project in Sarawak

    SECOND-board listed Zecon Bhd has announced plans to develop a RM2 billion residential and township development near Kuching in Sarawak.
    Oct 30, 2007

    SECOND-board listed Zecon Bhd has announced plans to develop a RM2 billion residential and township development near Kuching in Sarawak.
    The company's subsidiary, Zecon Land Sdn Bhd, has obtain

    ed a provisional approval from the state planning authority of Sarawak for the development of a 2,000 acre piece of land in Semenanjung Demak, approximately 6km from Kuching.
    On the first plot measuring 500 acres, the company intends to construct over 4,000 low-to medium-cost terrace houses and related infrastructure for the state’s housing scheme under Syarikat Perumahan Negara Bhd (SPNB). Total development cost is expected to be approximately RM613.9 million. On the remaining 1,500 acres of land, a township comprising a mixture of commercial, office and residential properties will be developed, with a gross development value (GDV) of about RM1.6 billion.
    Zecon’s group managing director and chief executive officer Datuk Zainal Abidin Ahmad said, “We look forward to starting the project soon, as this will not only bring about unlocking of the value of our land assets but also accelerate the revenue contribution from our construction division.”
    SPNB will be undertaking the sales and marketing initiatives for the affordable housing project, which is expected to be completed in three years. Site clearance and earthworks on the development have already commenced.

    Zecon and its group of companies are a leading integrated construction and infrastructure group. The group's main activities include foundation engineering, civil engineering, building works, construction of highway and water infrastructure, property development, and toll concession


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    Posted Date: October 30, 2007 12:00:00 AM
    Malaysia’s Property Hot Spots

    Malaysia’s Property Hot Spots

    Renowned map-maker Ho Chin Soon points them out
    Oct 30, 2007

    According to Ho Chin Soon, Director of Ho Chin Soon Research Sdn Bhd, the three key factors to consider when buying property are: location, timing and branding.
    In terms of location, the Klang

    Valley remains the “centre of gravity” and savvy investors should focus on the first and second-tier growth areas. The first and second tiers lie within 15km and 25km from the centre respectively.

    Ho stressed that when buying property, one should check if it is well-connected by highways. He believes that Petaling Jaya will remain a top pick for landed properties whilst the golden triangle and Mont’ Kiara will continue to be popular for high-rise developments.

    In addition to this, he observed that Penang has been attracting a lot of attention through the Malaysia My Second Home (MM2H) programme. Coupled with big infrastructural projects like the second bridge and monorail, he believes that island’s property industry will continue to do well.

    Commenting on the property market, Ho said that 2005 and 2006 was an ideal time to invest in property. Although the present market is stable and it is still a good time to buy, he emphasised on the importance of buying from a reputable developer. He foresees that market conditions should remain good for the next two to three years. If the property cycle repeats itself, a downturn may occur in about three years.


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    Posted Date: October 29, 2007 12:00:00 AM
    Berjaya Land to launch upmarket projects

    BLand to launch upmarket projects

    Berjaya Land Bhd (BLand) will be launching luxurious link bungalows in Taman Seputeh, Kuala Lumpur.
    Oct 29, 2007

    Berjaya Land Bhd (BLand) will be launching luxurious link bungalows in Taman Seputeh, Kuala Lumpur. The project, named Vasana 25, will have a gross development value (GDV) of RM109 million, and wil

    l be built on two hectares of freehold land.

    The Vasana development will be launched in early 2008 and will comprise 22 link bungalows and three bungalows. The link bungalows, which will be priced from RM3 million, will have built-up areas of 4,000 to 5,000 sq ft and land areas of 5,000 to 7,000 sq ft. Some of the link bungalows which will be built on higher ground will come complete with elevators.

    BLand properties marketing general manager Mah Siew Wan said that she expects the three-storey bungalows to be "very well-received", due to its gated community concept.

    Mah said that another project to be launched by year-end is Savanna 2, located in Bukit Jalil. The developer is currently awaiting building plan approval.
    Savanna 2 will be a four-storey block with 32 units of condominium villas built on 0.49 hectares of freehold land. This development follows in the success of Savanna, a two-block condominium which was rapidly sold after its launch in October 2005.

     


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    Posted Date: October 29, 2007 12:00:00 AM
    Tan & Tan's One Jelatek Receives Overwhelming Response

    In less than two hours during a recent sales preview, eager purchasers snapped up 90 percent of the available units at Tan & Tan Developments Bhd’s latest project, One Jelatek, leaving behind o

    nly Bumiputera units.

    According to the company’s group marketing general manager Kevin Kuok, “One Jelatek is probably the most stylish, sophisticated, chic and exciting property you can find in the Jelatek area”.

    The 20-storey development is fashionably low-density and sits on a 0.75 acre pocket of freehold land, just a few minutes away from Kuala Lumpur City Centre (KLCC) and the Ampang neighbourhood. In the vicinity, there is Ampang Point, Great Eastern Mall, The Amp Walk and Gleneagles Intan Medical Centre. Several international schools, such as Sayfol, ISKL and Sri Utama are close by, and numerous embassies are just a 10-minute drive away. One Jelatek is well-connected to the rest of Klang Valley via Jalan Ampang, the Middle Ring Road 2 (MRR2), the Ampang Elevated Highway and the SMART Tunnel and two Putra light rail transit (LRT) stations.

    Built-up areas of One Jelatek’s standard units range from 1,327 to 1,649 sq ft, with one bedroom and study, two bedrooms and study, as well as three-bedroom configurations. Units were sold at an average price of RM420 per sq ft (psf).

    “The units come with high quality finishes and fittings - split unit air-conditioning, tempered glass panels with swing doors at the shower areas, built-in kitchen cabinets and solid timber flooring in the bedrooms” said Kuok.

    Over the years, Tan & Tan has established itself as a leading property developer in luxury high-end residences in and around the city, with several prominent projects such as Hampshire Park, U-Thant Residence, Cendana, Sierramas and Desa Kudalari in its portfolio. Tan & Tan is also the developer behind the highly successful Seri Maya development, adjacent to One Jelatek.

    “Seri Maya has a 50:50 owner and tenant occupied ratio. It currently enjoys an attractive yield of 9 percent per annum and we would expect One Jelatek’s yield to equal that of Seri Maya’s yield,” said Kuok. “One Jelatek if upper market, lower density and with more sophisticated features”. The development is also an appealing choice for MM2H (Malaysia, My Second Home) applicants, if the popularity of Seri Maya among foreigners is anything to go by.

    Buyers who did not manage to purchase a unit at One Jelatek can look forward to more new launches in Kuala Lumpur by the developer next year.


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    Posted Date: October 29, 2007 12:00:00 AM
    AP Land confident of sales from myHabitat Tower II

    AP LAND CONFIDENT OF SALES FOR MYHABITAT’S TOWER II

    MYHABITAT takes the coveted position of being set within the KL’s first integrated development consist of the Empire Tower, Crown Princess Hotel and City Square Shopping Centre
    Oct 29, 2007

    MYHABITAT takes the coveted position of being set within the KL’s first integrated development consist of the Empire Tower, Crown Princess Hotel and City Square Shopping Centre.  It is adjacen

    t to 11 embassies, making it one of the most sought after addresses in KL city.

    Strategically located at the intersection of Jalan Ampang and Jalan Tun Razak, accessibility has never been easier, with the Ampang Park LRT Station only a five-minute walk away.  The monumental Twin Towers and Suria KLCC shopping mall is only one-train stop away, making shopping, dining and entertainment within easy reach.

    Executive Director Hoi Siew Choo said, “Owning a property right in the heart of the Kuala Lumpur city centre is a luxury itself but to actually find a piece of freehold property land is another matter altogether.  The strategic location, better yield, tight security and the affordable pricing are the main factors that will attract investors and buyers of MYHABITAT Tower II.  Foreigner were expected to comprise at least 50% of the buyers for the 38 storey of Tower II”

    So far, MYHABITAT Tower I had received an overwhelming response of its serviced residences and had todate sold 86% of the 168 units since it launched.  Half of the buyers were foreigners mainly from Singapore, South Korea and Hong Kong.

    Asia Pacific Land Bhd (AP Land) is confident all 215 units in Tower II of its MYHABITAT Serviced Residences will be taken up when launched by early next year as the price are very affordable for units ranging from 600 – 1,100 sqft.

    “We are targeting those corporate individual who wants to stay in the bustling Golden Triangle of Kuala Lumpur, yet nestled away from inner traffic congestion’. 

    She added that each unit is designed to take advantage of the natural light of our tropical climate.  Lines are clean and contemporary, benefiting the lifestyle of any city slicker.  These serviced residences come with a multitude of facilities like an infinity swimming pool, children’s wading pool, sun/pool deck, pool side café, multipurpose hall, squash court, gymnasium, retail area, children playground, laundry room, even a vertical landscape garden and pond will definitely make MYHABITAT a 5-star investment in Kuala Lumpur City Centre.

    Currently, the development of MYHABITAT is 40% completed.  The entire project is expected to be completed by second half of 2009.

     


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    Posted Date: October 28, 2007 12:00:00 AM
    15th FIABCI Malaysia Property Awards

    Over 1,300 guests attended the 15th International Real Estate Federation (FIABCI) Malaysia Property Awards ceremony, which took place on Oct 27, 2007.
    The prestigious Malaysia Property Award, d

    ubbed the “Oscars” of the property industry, was organised by the FIABCI Malaysia chapter. The Sultan of Selangor, Sultan Sharafuddin Idris Shah, graced the event as Guest-of-Honour.

    This year, YTL Land & Development Bhd won two awards – Sentul West and Sentul East Master Plans bagged the “Best Master Plan Development” award and the Kuala Lumpur Performing Arts Centre achieved the “Special Award for National Contribution”.

    SP Setia Bhd group managing director and chief executive officer Tan Sri Liew Kee Sin was named “Property Man of the Year 2007”.

    In his speech, Liew said that the past decade had been challenging but rewarding for him and SP Setia. His unflinching quest for excellence in product and service quality has evidently paid off. The group is now being recognised as one of the top players in the industry. Going forward, Liew’s aspiration is for the company to continue to “improve and evolve” into a global player.

    The other award winners were: Stonor Park (Best Residential Development for High-Rise), Pinggiran Bayou Village (Best Residential Development for Low-Rise), Genting Highlands Resort (Best Resort Development), KB Mall (Best Retail Development), Sultan Abdul Aziz Royal Gallery (Best Specialised Project) and Persada Johor International Convention Centre (Best Specialised Project).

    During the event, a minute of silence was observed for the recent passing of Genting Group founder Tan Sri Lim Goh Tong. The late Lim was awarded the “Property Man of the Year” by FIABCI in 2002 and was a prominent industry figure.


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    Posted Date: October 27, 2007 12:00:00 AM
    Berinda Group launches project in IDR

    Berinda Group launches project in IDR

    The Berinda Group has launched a 200-unit project, Impian Heights - Park Precinct, in the Iskandar Development Region (IDR)
    Oct 27, 2007

    The Berinda Group has launched a 200-unit project, Impian Heights - Park Precinct, in the Iskandar Development Region (IDR). Built on a 600-acre plot within the 3,000-acre Taman Impian Emas townshi p, the project is designed by multi-award winning landscape architect Malik, Lip & Associates and developed by Gunung Impian Development Sdn Bhd.

    According to the Berinda Group, Impian Heights is ideally located as it is easily accessible through the new Pontian Interchange, and the North-South Highway is only five minutes away via Skudai and Kempas.

    80 double storey terrace units under Park Terrace 1 will be launched at an introductory price of RM298,000 and above, while 79 homes will be offered under Park Terrace II with prices starting at RM338,000.

    The 40 units under Park Link Villa 1 are expected to be priced from RM598,000 while land for bungalow lots under Park Villa will be sold at RM65 per sq ft. The 36 units under the Park Link Villa II are expected to be launched at RM700,000 each in three months.

    The developer has planned a 27-hole golf course with nine-hole playable as well as a Resident’s Club, which will be equipped with jacuzzis, saunas, steam rooms, tennis courts, a day spa and free form swimming pool.

    The development will be a fully secured two-tiered gated and guarded community, installed with Radio Frequency Identification (RFID) technology as an enhanced safety measure. RFID is an automatic identification method provided for identification and secured access into individual precincts and homes using radio waves.

    The company is in the midst of negotiations with an Australian investor for a joint-venture shopping mall and expects to announce details by the end of the year.

     


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    Posted Date: October 26, 2007 12:00:00 AM
    The Avare Fully Sold Out

    The Avare Fully Sold Out

    Second Board-listed Magna Prima Bhd announced that it has completed the sales of The Avare
    Oct 26, 2007

    Second Board-listed Magna Prima Bhd announced that it has completed the sales of The Avare, a 41-storey freehold condominium development located within the KLCC vicinity.

    The company said the last unit was sold at RM2,100 per sq ft (psf), up RM750 psf from its 2006 launch price of RM1,350 psf. The Avare, which comprises 78 condominiums with built-up areas of 3,800 sq ft to 7,700 sq ft, is scheduled to be completed in August 2008.

    Apart from The Avare, the firm’s property development arm, which contributed over 60 percent of total turnover, is developing Magnaville in Selayang and Dataran Automobil in Shah Alam.

     


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    Posted Date: October 25, 2007 12:00:00 AM
    Positive Response for Penang’s Queens City

    Positive Response for Penang’s Queens City

    Queens City, an integrated and self-contained township located on the southwest end of Penang Island, has attracted substantial interest from both Malaysian and foreign buyers.
    Oct 25, 2007
    Queens City, an integrated and self-contained township located on the southwest end of Penang Island, has attracted substantial interest from both Malaysian and foreign buyers. The RM1 billion project
    , which is part of the 30 hectare Queensbay masterplan development, will offer spectacular views of the Penang Bridge and feature a stunning waterfront promenade.
    To be developed by the Kuala Lumpur-based CP Group, the 6.4 hectare waterfront development will offer retail and food and beverage outlets, fully-furnished serviced residences, office suites and as well as a five-star hotel.
    The CP Group, which owns and manages the Eastin Hotel in Kuala Lumpur, is investing over RM100 million in the five-star business-class hotel in Queensbay. Slated for completion in end-2008, the hotel will boast a 2,000 person capacity ballroom among other amenities.
    Also planned for construction are four blocks of office suites targeted at Multimedia Super Corridor (MSC) status tenants. The group has confirmed plans to build a back-up 33KV power substation which will be ready by 2009.
    Construction of the Queens City development is expected to commence next year and due to be completed by 2012.

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    Posted Date: October 23, 2007 12:00:00 AM
    The Peak @ Bukit Prima

    The Peak @ Bukit Prima

    Setting new Benchmarks in Cheras
    Oct 23, 2007
    The Peak @ Bukit Prima is being hailed as one of the most luxurious gated residences ever to be built in Cheras.        
    Already, the developer Yuk Tung Developm
    ent Sdn Bhd (formerly known as Desa Kipcity Sdn Bhd) has achieved an admirable RM100 million sales out of a gross development value of about RM260 million.
    Upon completion, The Peak @ Bukit Prima will have a total of 360 units comprising 142 units of three-storey terrace houses (superlinks) under Phase One, 122 units of two and three-storey semi-detached houses under Phase Two and 96 units of three-storey terrace houses under Phase Three.
    The 54-acre low-density freehold development is managed by the HR United Group. According to the group, 30 more units of three-storey semi-detached houses will be launched on Nov 3. These units will comprise 12 units of the 40ft x 80ft type with 4,300 sq ft built-up area and 18 units of the 40ft x 90ft type with 4,500 sq ft built-up area. Both types of housing are priced between RM1.3 million and RM2.6 million.
    Two more show houses will be ready in time for the launch, and a show house for the 40ft x 90ft semi-detached type will be completed by mid-November. Having spent over RM3 million on the interior decoration for the three show houses, HR United Group is sparing no cost in  quality finishes such as porcelain tiles for living and dining areas and laminated timber for bedrooms.
    HR United’s decision to delve into the high end market segment is driven by their belief that the middle market property segment is already extremely saturated. Besides innovative designs, the group has left its mark by setting benchmark prices in the area. 
    Buyers who have bought units earlier would be pleased to know that their investments have reaped remarkable rewards. According to the group, three-storey superlink houses which were launched at approximately RM480,000 have now risen in value to RM730,000 whilst the three-storey semi-detached houses have appreciated from RM780,000 to RM1.3 million. 
    According to the company, buyers of the Phase One superlink houses would obtain vacant possession by April 2008 and the semi-detached units will be ready by August the same year. Residents can look forward to an exclusive and modern five-story clubhouse complete with a fitness centre, swimming pool, sauna and restaurants.
    Phase Three, which comprises 96 units of the 22 ft x 75 ft superlinks will be launched early next year. The entire project will be completed within two years.

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    Posted Date: October 23, 2007 12:00:00 AM
    Sunrise 1Q Profit Up More Than Three-Fold to RM75 mil

    Sunrise 1Q Profit Up More Than Three-Fold to RM75 mil

    Sunrise Bhd’s net profit for the first quarter ended Sept 30, 2007 (1Q), more than tripled to RM75.17 million from RM20.89 million a year earlier.
    Oct 23, 2007
    Sunrise Bhd’s net profit for the first quarter ended Sept 30, 2007 (1Q), more than tripled to RM75.17 million from RM20.89 million a year earlier. The group attributed this to the completion of the sa
    le of retail units and car park lots in Plaza Mont’Kiara, on-going commercial developments such as Solaris Mont’Kiara and Solaris Dutamas, as well as residential developments including Kiara Designer Suites, Banyan, Meridin and 10 Mont’Kiara.
    1Q revenue more than doubled to RM220.62 million from RM103.06 million the year before. Earnings per share rose to 17.47 sen from 5.13 sen previously. The group’s sales in 1Q was RM120 million, while unbilled sales stood at RM1.3 billion at end-September.
    Commenting on its prospects for the current financial year, Sunrise said that it already has substantial locked-in unbilled sales to date that would be boosted with launches in the pipeline, including 11 Mont’Kiara, a 338-unit upmarket condominium development and phase two of the Residence, an exclusive bungalow development. The company believes that profits from these future billings and the new launches will be recognised substantially over the next two financial years.


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    Posted Date: October 22, 2007 12:00:00 AM
    Penang’s Luxury Property Market Catches Up

    Penang’s Luxury Property Market Catches Up

    Property prices set to rise as big-name developers descend on the island
    Oct 22, 2007
    Home prices in the island of Penang has been on heading north, with properties in prime areas taking the lead.
    The introduction of foreigner-friendly policies has made Malaysian real estate more at
    tractive to foreigners. And while foreign investors rarely set their sights beyond Kuala Lumpur (KL), Johor and Malacca, Penang is starting to draw their attention.
    Recognising this trend and lured by the lower land prices, developers from KL have been wasting no time in making in roads on the island. The entry of these big players into the high-end segment has brought about a supply of high-quality projects and the promise of escalating property values. Property prices in the south and southwest district of the island have already seen increases of 20 percent from a year ago.
    Major developers from KL who have entered the Penang market include: SP Setia Bhd, E & O Property Development Bhd, CP Land Sdn Bhd, Mah Sing Bhd, Jelutong Development Sdn Bhd and Abad Naluri Sdn Bhd. Since 2004, they have announced projects worth about RM30 billion to be built in Penang over the next 10 to 15 years.
    Despite the rising prices, Penang’s properties are still affordable and have a lot of room for appreciation according to industry observers. Homes in the high-end segment, are 30 to 50 percent cheaper than those in KL. Luxury condominiums in the KL city centre range from RM700 to RM1,500 per sq ft (psf), compared to RM400 to RM500 psf for Penang's priciest condominium units.
    The state government’s funding of large scale infrastructure projects such as the monorail, second bridge and Penang Outer Ring Road, have aided in boosting the attractiveness of the island and as a consequence, local property prices. 
    Districts near the 9km tourist belt on the northern coast, such as Gurney Drive, Tanjung Bungah and Batu Ferringhi have become hotspots. Numerous resort condos and waterfront villas are being built here.
    Prices of a three-bedroom condo in these areas would range from RM350,000 to RM650,000. Quality condominium projects in prime areas can fetch annual rental yields of 6 to 8 percent. For 'super condos' with large floor areas of 4,000 sq ft and above, investors can expect to pay RM1.5 million to RM2 million.
    Despite their relatively high prices, a number of the projects are already selling “very well” because of their good location, innovative designs and high quality.
    Some high-profile projects include CP Group's 74-acre Queensbay mixed-development, which comprises shops, homes and offices. The 160-unit Bay Star condo, which is currently on sale, have prices ranging from RM450,000 to RM1.4 million. The project is 70 percent sold.
    The sea-fronting Seri Tanjung Pinang project in Tanjung Tokong by E&O Property Development has also been a hit. 500 units of the landed residential units launched earlier were sold at prices starting from RM800,000. The seafront villas, which will be launched in December this year, will be priced from RM2.5 million to RM6.5 million. Other homes in the development include courtyard terraces, which will start from RM735,000 and promise rental yields of 6 to 10 percent.
    From the success enjoyed by the developers of these upmarket properties so far, it is evident that Penang not only has a promising domestic market, but a foreign one too. Many of these properties have successfully drawn positive attention from foreign buyers and investors - as can be seen by the number of second homes snapped up by foreigners. These overseas investors are now negotiating to purchase some RM20 million worth of properties, which are priced between RM500,000 and RM1.5 million.

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    Posted Date: October 22, 2007 12:00:00 AM
    IPGA To Acquire Hong Kong’s Number One Online Property Portal - the GoHome Network

    IPGA To Acquire Hong Kong’s Number One Online Property Portal - the GoHome Network

    IPGA Ltd (ASX: IPP), through its wholly-owned subsidiary, iProperty Group Asia Pte Ltd, has entered into an agreement to acquire the GoHome network of the market-leading property websites in Hong Kong.
    Oct 22, 2007

    IPGA Ltd (ASX: IPP), through its wholly-owned subsidiary, iProperty Group Asia Pte Ltd, has entered into an agreement to acquire the GoHome network of the market-leading property websites in Hong K

    ong. The GoHome network’s websites power the Yahoo Hong Kong real estate channel and include GoHome.com.hk, House18.com and other related websites. The GoHome network is number one in both number of listings and user traffic in the Hong Kong market, as measured by ComScore1.

    The GoHome sites, which are all Chinese language based, reach over 45% of all unique Hong Kong internet users looking for property online each month, a result that is more than four and a half times better than the nearest competitor. In total, over 578,000 unique users view GoHome network property listings each month.

    The GoHome network is currently profitable and cashflow positive.

    Patrick Grove, Executive Chairman of IPGA, noted, "We are delighted with the acquisition of the GoHome network in Hong Kong. With over 96%2 of the population using Chinese as their primary language, it was clear that the market leader would certainly be a Chinese language site.

    "Our experience in Singapore and Malaysia makes it far simpler for us, as a regional player, to integrate the GoHome network of sites into our organization," he said.

    "Not only does GoHome enjoy a significant leadership position in the Hong Kong online property market, it also represents an exceptional strategic acquisition for our company. Hong Kong is a unique place, with the highest broadband internet penetration in the world3, and a unique property buying and investing culture.

    "We are extremely pleased that we have been able to acquire the clear leader in the online property market. IPGA sites and listings are now viewed by over 754,000 unique users in Asia Pacific each month4", said Mr Grove.

    "The Hong Kong property advertising market for 2007 is expected to exceed HK$2.3 billion5 (approx A$324 million), making it 65%6 of the size of the Australian real estate advertising market in 2006. As such, this is potentially an extremely lucrative market for IPGA as that advertising money moves online in line with global trends," he added.

    On completion of the transaction, IPGA will pay HK$9.5 million (approx A$1.36 million) in cash. The acquisition is contingent on satisfactory financial and legal due diligence, and final approval from the vendor’s members. It is expected that the acquisition will complete in late November.

    The acquisition of the GoHome network sees IPGA add to its market-leading online property operations7 in Singapore, Malaysia and the Philippines, and represents its first acquisition since its listing on 11 September 2007.

    IPGA continues to seek further strategic acquisitions of leading property portals throughout regional markets.

    1 ComScore Networks MyMetrix Media Trends Report, Hong Kong, August 2007.
    2 Hong Kong SAR Census and Statistics Department, 2006 Census.
    3 www.internetworldstats.com
    4 ComScore Networks MyMetrix Media Trends Report, Asia Pacific, August 2007.
    5 admanGO, Hong Kong, Media Monitoring Report, September 2007.
    6 Frost and Sullivan Independent Market Report, 19 June 2007.
    7 Ibid.


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    Posted Date: October 09, 2007 12:00:00 AM
    SP Setia secures RM190m government contract

    SP Setia secures RM190m government contract

    SP Setia Bhd has been awarded a RM190.43 million contract to build the new Ministry of Home Affairs complex and quarters in the Iskandar Development Region (IDR), Johor.
    Oct 9, 2007

    SP Setia Bhd has been awarded a RM190.43 million contract to build the new Ministry of Home Affairs complex and quarters in the Iskandar Development Region (IDR), Johor.

    The complex, which

    will be constructed within the central business district (CBD) of its Setia Tropika Township, is scheduled to be completed by August 2010.

    SP Setia group managing director, Tan Sri Liew Kee Sin said, “The board envisages that the presence of the complex will significantly boost the vitality and traffic flow into the CBD, and is set to fast-track the development of the township located in the heart of the Iskandar Development Region”.

    "The complex will significantly boost the vibrancy of the commercial hub as well as augment the overall values of the properties," he added.
    The 6.68-hectare project will comprise a 15-storey Immigration office tower, offices for National Registration Department, Film Control division, Registration of Societies division and RELA and staff apartment quarters.


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    Posted Date: October 03, 2007 12:00:00 AM
    SP Setia marks its entry into the commercial retail sector with Setia Walk

    SP Setia marks its entry into the commercial retail sector with Setia Walk

    The RM800 million one-stop boutique lifestyle development is set to transform Puchong.
    Oct 3, 2007

    Buoyant consumer sentiments, record number of tourist arrivals, and internationalisation of the Malaysian property market have given Malaysia’s commercial retail sector a big boost.

    Recogn

    ising the strong prospects and tremendous opportunities, SP Setia has developed plans to venture into this sector in a big way. A leading developer renowned for its award-winning residential projects, SP Setia has planned a series of commercial projects to capitalise on the opportunities and establish itself as a serious commercial property developer.

    SP Setia’s maiden commercial project comes in the form of the RM800 million Setia Walk, which is set to transform the Puchong area. Built on a 20.8 acre plot in the matured township of Pusat Bandar Puchong, the project is highly visible from the Damansara Puchong Expressway (LDP) and located opposite the proposed Puchong light rail transit (LRT) station.

    Positioned as a one-stop boutique lifestyle centre, the project will be an integrated residential and commercial development which comprises offices, retail blocks, an entertainment complex, serviced and residential apartments. The commercial area will combine conventional shop offices and a shopping mall. With a potent blend of innovative architecture, creative landscaping and an exciting retail mix, Setia Walk will undoubtedly be a desirable place to live, work and play.

    Phase One will consist of 85 blocks offering 170 retail and 336 office units. Prices of shop offices range between RM2.5 million and RM8.9 million per block. Retail lots will be located on the ground and first floors, and offices will occupy the higher floors.

    Phase Two will feature a business hotel, office tower and entertainment complex which will house cineplexes, bowling alleys and karaoke lounges; while apartments will be built in Phase Three. According to the company, buyers can expect annual rental yields of 10 percent. 

    The commercial zone will be segregated into three main areas. The Active zone will comprise a child development centre, play zones, and children-centric retail shops; the Sanctuary zone will include fine dining restaurants, spas and beauty centres; and the Escape zone will feature alfresco food and beverage outlets, such as cafes and bistros.

    The residential component will include three 27-storey blocks offering a total of 759 units. Prices start from RM210,000. There will also be 46 small office home office (Soho) units.

    Other features that business owners and customers can look forward to include: 24-hour security, two-level basement carparks and beautifully landscaped pedestrian walkways.


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    Posted Date: October 02, 2007 12:00:00 AM
    IJM Properties to launch RM300 million Laman Granview in Puchong

    IJM Properties to launch RM300 million Laman Granview in Puchong

    IJM Properties, a property division of IJM Corp Bhd, has announced that it will be launching Laman Granview, a residential development in Saujana Puchong.
    Oct 2, 2007

    IJM Properties, a property division of IJM Corp Bhd, has announced that it will be launching Laman Granview, a residential development in Saujana Puchong. The project, which has a gross development

    value (GDV) of RM300 million, will be divided into northern and southern zones comprising 134 and 144 units respectively. The latter will be launched on Saturday Oct 6, 2007 while the former is expected to be launched in early 2009.

    Laman Granview will sit on a 52.89-acre site 450 feet above sea level - Puchong’s highest point; adjacent to the Air Hitam forest reserve. The northern zone will consist of 134 units of two-and-a-half storey semi-detached houses, three-storey zero-lot-type bungalows and three-and-a-half-storey signature bungalows. The southern zone will have 144 units of zero-lot bungalows and signature bungalows.

    Built-up areas of the units will range from 3,577 sq ft to 4,521 sq ft, and prices will start from RM1.04 million.

    Features of the development will include 24-hour security service with a central monitoring system and a clubhouse.

     


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    Posted Date: October 02, 2007 12:00:00 AM
    UEM Builders signs MOU with India-based Ansal Properties

    UEM Builders signs MOU with India-based Ansal Properties

    The alliance will enable UEM to tap into India’s booming construction and property sector
    Oct 2, 2007
    UEM Builders Bhd, a subsidiary of UEM Group, has signed a Memorandum of Understanding (MOU) with India's Ansal Properties & Infrastructure Ltd (Ansal API) for a possible joint venture (JV).

    The purpose of the MOU executed on Sep 28, 2007 is for the parties to enter into discussions with a view to form a JV company in India to undertake building, construction and engineering activities in India.

    The JV company, to be named UEM Builders-Ansal API Contracts Pvt Ltd, will have a board of directors drawn from both UEM Builders and Ansal API. This alliance will enable UEM to firmly position itself to tap into India’s booming construction and property sector, which has been enjoying annual growth rates of about eight percent.

    Commenting on the strategic alliance, UEM Builders’s Managing Director Datuk Ridza Abdoh said, “The infrastructure and real estate sector in India is on an upswing, offering tremendous opportunities for us. Having established a strong foothold in Southeast Asia and with over ten years of experience in construction activities in India, it was an obvious choice for us to expand our presence in the country.”

    Ansal API is a leading real estate developer in India with proven track records in residential and commercial segments. UEM Builders has been present in India since the early 1990s through its subsidiary, UE Development Pvt Ltd, and has been involved in the construction of over 700 km of roads in India.

    In the new joint venture, UEM will hold a 60 percent stake and Ansal the balance, and their first project is expected to develop a 1,765-acre township in Lucknow, the capital of Uttar Pradesh.


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    Posted Date: October 01, 2007 12:00:00 AM
    National Feng Shui Congress 2007: Breathing new life into the ancient art of feng shui.

    National Feng Shui Congress 2007: Breathing new life into the ancient art of feng shui.

    Joey Yap and other international feng shui masters demystified and translated ancient Chinese metaphysics into useful tips for property owners and buyers.
    Oct 1, 2007

    Investors, homeowners, homebuyers, real estate agents, developers, feng shui practitioners and fengshui enthusiasts from all walks of life packed the halls of Kuala Lumpur Convention Centre on the

    weekend of Sep 29 and 30, eager to gain knowledge on the intriguing subject of feng shui.
     
    This inaugural event, which was the brain child of the Founder and Master Trainer of the Mastery Academy of Chinese Metaphysics, Joey Yap, was themed ‘Feng Shui for Home Buyers’. The event saw the congregation of masters from all over the world, each armed with expert knowledge on various aspects of feng shui.

    To kick off the event, Joey spoke about the importance of the external surroundings and natural environment in determining if a property enjoys good ‘Qi’. Basically, a property is audited based on three criteria: its conduciveness for wealth, health and relationships.

    The surroundings and landforms must first circulate good ‘Qi’ before it can be tapped into, within the confines of a property. He also expounded the significance of the quality and location of mountains and water bodies in relation to a property.

    He then moved on to speak about the fengshui aspects within a property’s interior. When doing an audit of the interior, the three most important aspects to note are: the main door, bedroom and kitchen.

    The ‘Face Reading’ segment proved to be a hit with the crowd. During the lively session, Joey gave practical tips on how to assess a person’s character and luck cycle by simply looking at his or her face. This skill would come in handy during the course of property-hunting as one would encounter a myriad of people including property agents, sellers, buyers, lawyers and bankers. According to Joey, one can even tell if it is a favorable time to purchase property by looking at certain parts of one’s own face, specifically the area between the eyes, the eyes and the nose.

    On Day Two, Joey explored the topic of feng shui for high-rise buildings and apartments. Although the fundamental principles are the same, there are distinct differences in application compared to landed property. Joey taught the audience how to establish the facing of the building and unit, and pointed out that different floors are governed by different elements.

    Other experts who spoke at the event include: France’s Helene Weber, India’s Sherry Merchant, Singapore’s TK Lee, South Africa’s Diane Grobler, Malaysia’s Hung Hin Cheong and the United Kingdom’s Jayne Goodrich.

    The underlying message from the experts was clear – that although feng shui should not be perceived as THE magic bullet for all life’s problems, it can be used as a complementary tool to enhance one’s life.

    Although I am fully aware that it would take years of study to become a true master of this fascinating subject, this rewarding weekend has equipped me with basic feng shui knowledge which I am really excited to put to immediate use. Property hunting, here I come!


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    Posted Date: October 01, 2007 12:00:00 AM
    Zelan to develop 33-storey condominium next to Hampshire Residences

    Zelan to develop 33-storey condominium next to Hampshire Residences

    Following the success of Hampshire Residences, Zelan Bhd has announced that it will be developing another luxury condominium project in the KLCC vicinity.
    Oct 1, 2007

    Following the success of Hampshire Residences, Zelan Bhd has announced that it will be developing another luxury condominium project in the KLCC vicinity.
     
    According to Zelan, this new

    33-storey project, which has a gross development value (GDV) of RM169.38 million, will be built on a 0.23 ha freehold parcel on Jalan Lidcol, off Jalan Yap Kwan Seng, just next to its existing Hampshire Residences.

    Zelan Development Sdn Bhd, a subsidiary of Zelan Bhd, signed a property development agreement with landowner Masteron Liga Klasik Sdn Bhd (MLK) on Sep 28, 2007. Construction will commence once approvals from the relevant authorities are obtained.

    Like Hampshire Residences, this new condo project will be strategically located just minutes away from the KLCC and Petronas Twin Towers development.

    Due to be completed by December 2008, the RM400 million Hampshire Residences will comprise of two 33-storey towers with a total of 388 units. Developed in partnership with Singapore-based CapitaLand, the project has attracted a large number of foreign buyers, including those from Europe, India, the Middle East and Singapore.


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    Posted Date: September 27, 2007 12:00:00 AM
    PJXchange to Drive Future Earnings

    PJXchange to Drive Future Earnings

    Redemption of RM49.57million worth of bonds on top of RM350 million in upcoming property and development launches
    Sep 27, 2007

    SBC CORPORATION BERHAD (KLSE: SBCCORP/5207), a progressive Construction and Property Development Group of Companies listed on the main board of the Kuala Lumpur Stock Exchange reported positive out

    look during their Annual General Meeting (AGM) for 2007 today. 

    The adoption of the revised Financial Reporting Standards (FRS) resulted in a slight decline of SBC Corp Bhd’s reported net profit. This implementation impacted the Group’s prudent measures to provide possible impairment losses. 

    Looking towards the coming 12 months, SBC is primed to launch more than RM350 million worth of property projects in a bid to maintain their excellent track record in the development scene.

    SBC Corp Bhd’s latest project, PJXchange (PJX) worth RM200 million, is slated to be an iconic office tower to mark the skyline of Petaling Jaya’s “Golden Triangle”.  This major office skyscraper is set to transform PJ’s skyline although the 33-storey, blue-chip, design-led office tower is substantially owned and only 30% is open for sale. Tenants of this prestigious skyline are assured of modern and high security features and services.

    PJX is also situated in close proximity to the vibrant Bangsar and Mid Valley Megamall, and is conveniently linked to the central rail interchange at Kuala Lumpur Sentral, KL’s integrated transportation hub from the Taman Jaya PUTRA LRT station. 

    Other upcoming projects cited to enhance their future earning includes the launch of:

    • High end residential development, Lot 2, Signal Hill, Kota Kinabalu, Sabah (RM70 million)
    • Mixed commercial development, Jalan Ipoh, Kuala Lumpur (RM80 million)
    • Integrated Commercial Hub, Seri Kembangan, Selangor (RM64 million)
    • 6th Phase of Seri Mahkota Aman, Kuantan, Pahang (RM15 million)

    SBC Corp Bhd is upbeat on properties situated in selected prime locations especially near transport links like highways and rail and the abolition of the Real Property Gains Tax (RGPT), Malaysian demographics are still strong.  Demand for residential properties is expected to be strong in 2008 on the back of the anticipated growth of domestic economy and improved consumer confidence. Amid the favourable interest rate environment and the recent 2008 Budget announcement, the increase in liquidity is expected to encourage more frequent buying and selling within the property market.

    SBC Corp Bhd believes that future property projects will be skewed towards niche developments, as the success of which will depend on the developer’s reputation and branding, as well as product innovation, following where the Group deems fit.


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    Posted Date: September 26, 2007 12:00:00 AM
    Hartamas’ Real Estate Career talk

    Hartamas’ Real Estate Career talk

    Hartaemas Real Estate Sdn Bhd will be conducting a Real Estate Career talk at its premises in Dataran Prima on the 6th of October 2007 (Saturday), at 2:00 pm.
    Sep 26, 2007

    Hartaemas Real Estate Sdn Bhd will be conducting a Real Estate Career talk at its premises in Dataran Prima on the 6th of October 2007 (Saturday), at 2:00 pm. This is par t of the company’s initiative to not only bolster its ranks after more than a decade of exceptional growth, but to also increase the understanding and awareness of the real estate industry and the career paths it offers.

    Hartamas’ Real Estate Career talk will be targeted at young graduates and seasoned professionals alike. Anyone who is keen on earning a five figure income while working flexible hours will stand to benefit significantly from this talk. The topics covered will include the requirements of being a real estate negotiator/agent, a career path in real estate, the ins and outs of the industry, areas of specialization as well as the expected remuneration in the real estate industry.

    Interested participants can contact Hartaemas Real Estate Sdn Bhd at 03-7803 5555 or via email at info@hartamas.com to obtain further information and to RSVP a seat at the event.


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    Posted Date: September 24, 2007 12:00:00 AM
    SP Setia expects better performance in financial year 07

    SP Setia Bhd is confident of doing better in its current financial year ending compared to the previous year despite a drop in profits from RM62.95million to RM53.77million. This is mainly due to t

    he expected completion of the sale of a 37.78-acre piece of land by Bukit Indah Sdn Bhd to Raion Capital Bhd.

    The decline in profits this financial year has been attributed to a lower contribution from the Duta Tropika project that was completed at the end of the previous financial year.

    SP Setia Bhd has also deferred the launch of two of its projects. The first is Setia Pearl Island in Penang which has been pushed to April 2007 as there has been a delay in the approval process. The second, Setia Walk in Pusat Bandar Puchong will be launching in October 2007 so as to have more time to improve the layout.

    SP Setia’s revenue and profits were mainly derived from its property development activities in Setia Alam at Shah Alam, Duta Tropika at Sri Hartamas, SetiaHills at Bukit Indah Ampang, Bukit Indah at Bandar Nusajaya, and Setia Indah and Setia Tropika in Johor.

    Apart from property development, the group’s construction and wood-based manufacturing activities also contributed to the earnings.


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    Posted Date: September 24, 2007 12:00:00 AM
    UOA Enhances Security Features in Its Office Buildings

    UOA Enhances Security Features in Its Office Buildings

    UOA will be activating the Pedestrian Gate System (commonly known as turnstile) in UOA Centre & UOA II on 12th September 2007.
    Sep 24, 2007

    UOA will be activating the Pedestrian Gate System (commonly known as turnstile) in UOA Centre & UOA II on 12th September 2007. This additional security feature which costs about RM1 million tog

    ether with the recent upgrading of the CCTV system is part of UOA’s efforts in creating a secured environment for its tenants. The Pedestrian Gate System is gaining popularity among modern office buildings to upload tighter security control within the premises. Every visitor wanting to pass through will need to register at the security counter whereby their cards will be scanned (information such as visitor’s name, address & photo will be stored into the Visitor Management System) before obtaining as access card to enter. This allows the Building Management to obtain records of visitors as well as have a better monitoring system in case of any breach of security in the building. “The latest system implemented by UOA will improve the efficiency of lift services and building security for tenants” says K. Rohan, Chief Executive Officer of Hannover Rueck AG (Malaysia Branch) who is a tenant in UOA II. Another tenant, Yee Siew Yoong of Allianz Life Insurance Malaysia Berhad adds that the additional feature would ensure the security of its employees at all times which is a major concern as a caring employer.

    UOA will also be introducing this security feature in its newly completed Wisma UOA Pantai and also for its soon-to-be-launched Menara UOA Bangsar, which has the Bangsar LRT station adjoining to the building & consists mainly of unique business suites. UOA has a proud stable of established office buildings in strategic locations namely UOA Centre, UOA II Damansara, UOA Bangsar and the soon-to-be-completed UOA Damansara II.


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    Posted Date: September 21, 2007 12:00:00 AM
    Joey Yap's National Feng Shui Congress 2007

    Joey Yap's National Feng Shui Congress 2007

    National Feng Shui Congress 2007 equips buyers with knowledge on how to select the best properties
    Sep 21, 2007

    For most people, buying property, whether for investment or own occupation, is a major decision. Therefore, before making the commitment, they want to be absolutely sure of their choice.

    Du

    ring the two-day event, themed 'Feng Shui for Homebuyers', renowned Feng Shui master Joey Yap and other leading professionals from Europe, South Africa and Asia, will be giving essential tips and insights on how to select properties which enjoy good Feng Shui. Property owners will also learn how to optimise the Feng Shui aspects of their existing properties.

    So whether you are looking to purchase a new property, enhance your existing property or are involved in the real estate industry, this is an event not to be missed!

    National Feng Shui Congress 2007 will be held at the Kuala Lumpur Convention Centre from 29 to 30 September 2007. For ticket purchase and inquiries, please call Global Destiny Resources at +603-2284 2381, or visit www.nationalfengshuicongress.com

    iProperty.com.my users can enjoy a special discount on the two day ticket at
    $138 instead of regular price of $198. Please inform the organizer at the point of purchase you saw the promotion at iproperty.com.my.


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    Posted Date: September 19, 2007 12:00:00 AM
    Media Prima Signs Rm70 Million Term Refinancing Facility With Affin Islamic Bank

    Media Prima Signs Rm70 Million Term Refinancing Facility With Affin Islamic Bank

    KUALA LUMPUR, 19 September 2007 – Media Prima Berhad (MPB), one of Malaysia’s leading integrated media investment group, today signed a 5 year,
    Sep 19, 2007

    KUALA LUMPUR, 19 September 2007 – Media Prima Berhad (MPB), one of Malaysia’s leading integrated media investment group, today signed a 5 year, RM70 million term refinancing facility with Affin Isl

    amic Bank Berhad (AFFINISLAMIC), thus further cementing its close relationship with Affin Bank Group (AFFINBANK).

    Under the refinancing exercise, MPB will now assume the term loan previously undertaken by ntv7 during MPB’s acquisition of the company in 2005, under improved terms that will result in value creation for MPB.

    The Islamic financing facility was formalised today at Menara AFFIN, witnessed by AFFINISLAMIC Chairman YBhg. Gen (R) Tan Sri Dato’ Seri Ismail Haji Omar. Signing on behalf of MPB was its Group Managing Director / Chief Executive Officer, Abdul Rahman Ahmad, while AFFINISLAMIC was represented by its Chief Executive Officer, Kamarul Ariffin Mohd Jamil..

    '‘We are proud to be given the opportunity once again to work with Malaysia’s leading integrated media group on this refinancing exercise. Apart from improving MPB’s bottom line through cost savings, it will also provide MPB greater access to funding which will ensure that MPB Group has more resources to achieve its wider corporate objectives. The MPB Group has grown from strength to strength and we at AFFINISLAMIC will continue to support our business partner in their stellar growth trajectory,’ said Kamarul Ariffin Mohd Jamil, AFFINISLAMIC, CEO.


    “This exercise completes Media Prima’s capital management initiative to generate lower cost of funds and savings over the medium term that will further improve our financial position and enhance shareholder value,” said Abdul Rahman Ahmad, Group Managing Director/Chief Executive Officer, MPB..

    Recently, Media Prima successfully completed a RM350 million private debt issuance programme.

    “In 2005, at a time when most lenders were apprehensive about lending, AFFINBANK had assisted in financing MPB’s acquisition of ntv7. One of the critical success factors for Media Prima is having strong partners like AFFINBANK, which have supported us and shared our vision in aggressively growing the media business. Today’s event confirms our mutual commitment to success by leveraging on the strength of both our companies,” added Rahman.

    Both the companies also signed at the same ceremony a Memorandum of Understanding under which AFFINISLAMIC will offer MPB employees its 'AFFINISLAMIC Premier Corporate Package' which consists of AFFINISLAMIC Premier Corporate Home Financing-i and AFFIN-i Will/Wasiat will writing service.


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    Posted Date: September 19, 2007 12:00:00 AM
    Malaysia to be preferred global choice for property investment

    Malaysia to be preferred global choice for property investment

    Malaysia is working to position itself as an attractive global player and a preferred property investment destination, in a joint effort by the Government and industry players.
    Sep 19, 2007

    Malaysia is working to position itself as an attractive global player and a preferred property investment destination, in a joint effort by the Government and industry players.

    “Our deliver

    y system needs to be improved,” said Minister in the Prime Minister’s Department Datuk Sri Effendi Norwawi during the 2007 National Property and Housing Summit on Sept 17, 2007. “Our developers need to be more responsible and conscious in delivering high quality real estate that is better, if not equivalent, to international standards.”

    Following the 1997 downturn, several restrictions pertaining to foreign ownership of property were imposed to curb speculative buying activity. Many of these have since been lifted in an effort to revitalize the property sector.

    Measures to date include the liberalisation of foreign exchange controls, the lifting of restrictions on the number of properties foreigners can buy, and a longer duration of stay for foreigners through Malaysia, My Second Home programme.

    “We want to remove whatever remnants are left of the negative perception from the 1997 downturn,” said Effendi. Plans are in the pipeline for a marketing initiative via exhibitions and seminars, establishment of benchmarks and the setting up of one-stop centres for more efficient property transactions.


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    Posted Date: September 19, 2007 12:00:00 AM
    YNH’s Upmarket Offerings

    YNH’s Upmarket Offerings

    YNH Property Bhd will be launching several luxurious residential and commercial projects in Kuala Lumpur, with an estimated gross development value of RM2.1 billion, in late 2007 and early 2008.
    Sep 19, 2007

    YNH Property Bhd will be launching several luxurious residential and commercial project

    s in Kuala Lumpur, with an estimated gross development value of RM2.1 billion, in late 2007 and early 2008. In the works are the RM300 million Duta Kiara 163 Suites and the RM600 million D’Kiara Place, which will begin construction in early 2008.

    The Duta Kiara 163 Suites, comprising 110 units of luxurious condominium, is located on a 2.8-acre site adjacent to Duta Nusantara. Each unit, with a built-up area of at least 3,800 sq ft, is expected to be priced at around RM3 million.

    The D’Kiara Place project, located next to Plaza Mont’Kiara, is a mixed-development scheme comprising two blocks of 548 service apartments and a 23-storey office block, as well as retail lots and auditorium space.

    According to group financial controller Y.M. Chan, the RM1.2bil project Menara YNH, located along Jalan Sultan Ismail beside Shangri-La Hotel, will also be starting soon. “The project involves the construction of a single iconic office tower. We intend to call for tender on the construction of the project very soon,” he said.  

    YNH Property, said Chan, had about 17 acres of land bank in various prime locations of Kuala Lumpur, with plans for more luxurious residential property schemes.  


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    Posted Date: September 19, 2007 12:00:00 AM
    Tanming’s Project Pipeline

    Tanming’s Project Pipeline

    Township and niche property developer Tanming Bhd’s RM216.4 million freehold Taman Meranti Jaya in Puchong is in its fourth phase.
    Sep 19, 2007
    Township and niche property developer Tanming Bhd’s RM216.4 million freehold Taman Meranti Jaya in Puchong is in its fourth phase. The 232-acre mixed township — comprising residential, commercial and
    industrial properties — is about 70% completed, and the new phase will include the Tanming Mall and Tanming Boulevard, positioned as the commercial hub of the township.
    "We are excited about the launch of our first neighbourhood shopping mall, the Tanming Mall,” executive director Chen Lai Chin was reported as saying. “The units will have wide frontage for retailers and showroom operators to display their products, the banks will have spacious halls and restaurant owners will have ample seating areas.”
    Set to be completed next year, the two-storey mall will have more than 14 units of shops with at least 30ft-wide frontages, a covered pedestrian street walk, with 69 bazaar stalls, an anchor tenant and shop units.
    Tanming Boulevard will comprise 82 units of 3-storey shop offices. Priced from RM1.1 million and to be launched next month, the shop offices directly face the main road of Taman Meranti Jaya and Jalan Puchong. "We offer modern office designs with sleek glass façades, and column-free wide frontages from 25ft to 60ft to provide maximum space,” said Chen.
    There will also be 69 units of 2½-storey link-houses scheduled for launch by October priced from RM428,800, with built-ups from 3,020 sq ft.


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    Posted Date: September 14, 2007 12:00:00 AM
    MK Land Places RM146m in private placement

    MK Land Places RM146m in private placement

    MK Land Holdings Bhd announced a private placement exercise of not more than 10% of its existing paid-up capital that will raise up to RM145.85 million for the group’s working capital.
    Sep 14, 2007

    MK Land Holdings Bhd announced a private placement exercise of not more than 10% of its existing paid-up capital that will raise up to RM145.85 million for the group’s working capital.

    As o

    f July 31, 2007 the company has a paid-up share of capital of RM 1.21 billion comprising similar number of shares, including 2.67 million treasury shares.

    Announcing the private placement yesterday, it said the actual number of shares would be determined at a later date and might be implemented in multiple tranches within six months from the date of approval.

     


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    Posted Date: September 14, 2007 12:00:00 AM
    Equine Capital to raise stake in Abad Naluri

    Equine Capital to raise stake in Abad Naluri

    Equine Capital Bhd is looking to raise its stake in it’s subsidiary Abad Naluri Sdn Bhd due to anticipation of growth and the development of the Penang Global City Centre(PGCC).
    Sep 14, 2007

    Equine Capital Bhd is looking to raise its stake in it's subsidiary Abad Naluri Sdn Bhd due to anticipation of growth and the development of the Penang Global City Centre(PGCC).

    "It is like

    ly that we will increase our stake in Abad Naluri from it's current 25% and begin to play a more dominant role in the company" stated Equine executive chairman, Datuk Patrick Lim confident that Abad Naluri will be looking at a high growth rate.

    PGCC has already attracted international attention with its modern, contemporary and striking designs setting Penang as a global icon.

    PGCC with a GDV of RM20 billion will be developed on a 104ha site that is currently being occupied by the Penang Turf Club. It will be one of the few "carbon-zero" cities in the world.

    High-end retail outlets, hotels, office spaces, and a performing arts centre are just some of the facilities that will be found in the city.

    "Our next step would be to finalize our financial model to be employed to fund this project" Lim said, adding that it would comprise a mix of equity, long-term debt and foreign direct investment. The financing will probably be announced by year-end.


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    Posted Date: September 14, 2007 12:00:00 AM
    Credit EPF withdrawals into housing loans

    The Real Estate and Housing Developers Association Malaysia has urged the government to reconsider crediting the monthly EPF withdrawals for housing purposes directly into individual accounts.

    Rehda's president Ng Seing Liong said "repercussion of such mechanism is huge and in the end, it may not benefit the contributors and the economy".

    "The withdrawals should be used strictly to help contributors reduce the burden of their housing loan, and it is crucial that they should not be at liberty to spend it for other purposes" Ng said. "Whilst ideally contributors should self-regulate in issues related to finances, the temptation of having extra money to spend may lead them to buying other things or committing to new loans."

    "If the withdrawals are intended to help them reduce their existing housing loan or enhance their housing loan eligibility, the mechanism should be designed to serve such purposes" he added.


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    Posted Date: September 11, 2007 12:00:00 AM
    Asian Property Portal Group IPGA Lists on ASX

    Asian Property Portal Group IPGA Lists on ASX

    Asian online property company IPGA Ltd. (ASX: IPP), which listed today on the Australian Securities Exchange, said it continues to identify further expansion opportunities throughout the region.
    Sep 11, 2007
    Asian online property company IPGA Ltd. (ASX: IPP), which listed today on the Australian Securities Exchange, said it continues to identify further expansion opportunities throughout the region.

    IPGA owns a portfolio of leading Asian based property websites and data services that currently work with more than 1,200 real estate agents, 80 property developers and 80 real estate agencies to list over 23,000 properties online.

    An independent study by research group Frost & Sullivan confirms IPGA has the market-leading operations in both Malaysia and Singapore.

    “The successful listing is a vote of confidence in IPGA’s growth strategy and validates the company’s decision to pursue an IPO in Australia despite recent global volatility in equity and financial markets,” said IPGA executive chairman Patrick Grove.

    “Our strategy is to develop the online property business model in key Asian markets and focus on leading in each new market we target,” Mr. Grove said.

    Controlled by Catcha Media Group, a Singapore-based media company founded by Mr. Grove and others, IPGA offered new investors a 29% stake at 25 cents a share. The initial public share offer raised A$7.5 million from institutional and retail investors.

    IPGA also owns and operates iProperty.com.my which was established in 2003 and is the leader in Malaysia’s online real estate market.

    Part of the proceeds from the listing will be used to complete the acquisition of Info-Tools Pte Ltd. Info-Tools currently offers co-broking tools via Singapore’s leading MLS (Multiple Listing Service) and 15 years of historical data and property listing information to local real estate agencies and agents. IPGA intends to launch a consumer property website using this wealth of content at www.iproperty.com.sg in the immediate future.

    IPGA has also acquired a leading online property website in the Philippines, InvestPH.com, and has signed a heads of agreement to acquire www.real.co.th, a Thai real estate portal. It is planned that both these websites will be rebranded under the PropertyForce.com banner, which is IPGA’s intended operating name for countries outside Malaysia / Singapore.

    The Asian online real estate advertising sector is forecast to grow significantly, with the Frost & Sullivan report estimating the markets of Singapore and Malaysia alone will grow at more than 70% a year between 2006 and 2010.

    “The success achieved by our Malaysian operation, iProperty.com.my, indicates that the Asian online property market could be in line for the same stellar growth achieved in Australia in the last six years,” Mr. Grove said.

    IPGA’s management team is led by Ken Tsurumaru, who was a co-founder of
    Catcha Media Group. The board of directors includes Australian businessmen
    Sam Weiss, Paul Choiselat and Hugh Morrow, and Dato' Larry Gan, who was previously the Managing Partner of Accenture in Asia.


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    Posted Date: September 10, 2007 12:00:00 AM
    YTL Land's D7 Boutique Offices an Instant Hit

    YTL Land's D7 Boutique Offices an Instant Hit

    100 Units of D7 were snapped up in a mere 60 minutes when pre launch sales opened up last Saturday, 8 September 2007.
    Sep 10, 2007

    100 Units of D7 were snapped up in a mere 60 minutes when pre launch sales opened up last Saturday, 8 September 2007.

    "We're delighted that a highly discerning group of people, such as arch

    itects, designers, and lawyers have embraced the Sentul address as a modern vibrant place, to not only live but also to set-up shop" said Dato’ Yeoh Seok Kian, Executive Director of YTL Land and Development Berhad. The plans for D7 emerged when the evident need to stand out with future trends became apparent among people from the service industry. This would give them a trendy iconic office space instead of a traditional office shop lot.

    "D7 is perhaps the most significant point of progress in our urban renewal vision for Sentul, complementing the masterplan by bringing a new lease of energy and life into Sentul East's stylish cosmopolitan environment. With an architectural design that is ahead of it's time, D7 is set to be the future hot house for businesses in the city" Dato' Yeoh added.

    The launch price for D7 starts from RM380 psf with units ranging from 870-1500 sq. ft. The RM80-million freehold development will feature cutting edge duplex offices, boutique offices with retail and F&B outlets encased in lush landscaping, water features and artistic sculptures in the atrium area.

    Sentul East features a thriving residential community with the two projects The Tamarind and The Saffron being completely sold out. This is a testament to the change of a 100-year old former railway town.


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    Posted Date: August 23, 2007 12:00:00 AM
    Sunrise’s MK11 aspirations

    Sunrise’s MK11 aspirations

    Despite the less than perfect stock market conditions, Sunrise Bhd has managed to not only persevere but rise above the rest with its high-end condominium project in Mont’ Kiara called 11@Mont' Kiara (MK11).
    Aug 23, 2007

    Despite the less than perfect stock market conditions, Sunrise Bhd has managed to not only persevere but rise above the rest with its high-end condominium project in Mont’ Kiara called

    lto:11@Mont’">11@Mont’ Kiara (MK11).

    Chief marketing officer Lee Meng Tuck said there is no better time than this since people will be looking to put their money elsewhere rather than the stock market.

    Regardless of the RM727psf to RM802psf price tag that’s set for the development, which sets new benchmarks for condos in Mont’ Kiara, MK11’s private preview held for registrants recently showed no lack of crowd.

    Typical units are sized from about 2,700sq ft to 3,700sq ft and the most reasonably priced unit is going for under RM2 million. Even with the pricey tag MK11 carries, Lee said secondary prices of other condos in the vicinity are in the same league.

    With a gross development value of RM817 million, MK11 will feature five towers of different heights with a total of 338 units spanned over five acres. The bulk of the units will have three to four bedrooms and will be smaller in size compared to its predecessor MK10.

    Its façade also boasts to stand out from Mont’ Kiara’s high-rise landscape, with the extensive use of glass in a blue tinge. Its circular design also ensures that every unit comes with a view.

    As for facilities, the multi-level lifestyle deck features several pools as well as a floating gym on the lower level.

    But a question inarguably rises, with the concerns of the demand of high-end condos that are sprouting in prime locations around the Klang Valley, one begins to wonder, who will fill-up these luxurious pads?

    Lee said despite the prices, demand for Sunrise products have remained strong.


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    Posted Date: August 23, 2007 12:00:00 AM
    New shop offices rising in Bandar Seri Putra

    New shop offices rising in Bandar Seri Putra

    UMLand Bhd’s township in Bangi, Bandar Seri Putra, is set to see the rise of RM14.9 million three-storey shop offices, catering to businesses and companies wanting to set up their premises.
    Aug 23, 2007

    UMLand Bhd’s township in Bangi, Bandar Seri Putra, is set to see the rise of RM14.9 million three-storey shop offices, catering to businesses and companies wanting to set up their premises.

    Developed by the group’s subsidiary Bangi Heights Development Sdn Bhd, the 24 units of shop offices will feature a dimension of 22ft x 80ft and are priced from RM565,000 with an built-up area of 5,266sq ft for intermediate units and 8,409sq ft for corner units. The offices are expected to be completed by Jan 2009.

    Located within the 898-acre integrated township, which boasts well-planned residential and commercial precincts, the area boasts a wide catchment population from the array of educational institutions such as Universiti Putra Malaysia, Universiti Kebangsaan Malaysia, Universiti Multimedia, Universiti Tenaga Nasional and Kolej Islam Malaysia.

    Bandar Seri Putra is directly accessible from the KL-Seremban Highway via the Putra Mahkota Interchange and is 37 km by road southeast of Kuala Lumpur City in the southern growth region comprising Putrajaya, Cyberjaya and the Kuala Lumpur International Airport (KLIA).


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    Posted Date: August 21, 2007 12:00:00 AM
    Sime UEP to bring in RM1.3bil sales from new launches

    Sime UEP to bring in RM1.3bil sales from new launches

    Sime Darby Bhd property arm Sime UEP Properties Bhd is on schedule to bring in sales worth RM1.3 billion from its new residential property launches in the current financial ending June 30 of this year.
    Aug 21, 2007

    Sime Darby Bhd property arm Sime UEP Properties Bhd is on schedule to bring in sales worth RM1.3 billion from its new residential property launches in the current financial ending June 30 of this y

    ear.

    These launches include high-end residential units in USJ Heights as well as mixed property in Putra Heights and Bukit Raja projects in Selangor.

    Thus far, Sime UEP has a remaining land bank of about 5,000 acres in Selangor with potential to be developed into new property projects, said managing director Ir Jauhari Hamidi.

    He also added that the company is making good progress to be part of the merged entity Synergy Drive Bhd, which is poised to be Malaysia’s largest residential property and commercial developer with a combined land bank of about 37,000ha.

    The company is the property developer of flagship township Subang Jaya and UEP Subang Jaya or better known as USJ.


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    Posted Date: August 17, 2007 12:00:00 AM
    Seri Hening taking a confident step forward

    Seri Hening taking a confident step forward

    Great Eastern Life Assurance (M) Bhd director and chief executive officer Alex Foong is confident that about 80% of its upcoming high-end low density residential apartments, Seri Hening Residence, will be leased out within three months.
    Aug 17, 2007

    Great Eastern Life Assurance (M) Bhd director and chief executive officer Alex Foong is confident that about 80% of its upcoming high-end low density residential apartments, Seri Hening Residence,

    will be leased out within three months.

    Located next to Menara Great Eastern and Great Eastern Mall in Jalan Ampang Hilir, the apartments will feature 113 units.

    And with optimism in the air, the company hopes Seri Hening Residence will generate an annual net yield of six percent, with rentals expected at about RM25,000 for the largest unit with a built-up of 6,320sq ft.

    “This is Great Eastern’s first residential development worth RM132 million and aimed at the affluent and high income group,” Foong said.

    Previously, the company’s focus concentrated on commercial units as part of its property investment portfolio, he added.


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    Posted Date: August 17, 2007 12:00:00 AM
    Al Rajhi bank to attract Arabs to buy homes in Malaysia

    Al Rajhi bank to attract Arabs to buy homes in Malaysia

    Saudi Arabia’s Al Rajhi Bank hopes to play a role in attracting more Arabs to purchase properties in Malaysia. With an aim to tap into its customer base for over three million in its home country to participate in Malaysia’s My Second Home programme.
    Aug 17, 2007

    Saudi Arabia’s Al Rajhi Bank hopes to play a role in attracting more Arabs to purchase properties in Malaysia. With an aim to tap into its customer base for over three million in its home country t

    o participate in Malaysia’s My Second Home programme.

    Chief executive officer Ahmed Rehman said, “We believe our bank can work with bodies like the Penang Development Corp to produce brochures on the programme for our customers in Saudi Arabia.”

    With 400 branches in Saudi Arabia serving over three million customers, Ahmed is confident that a percentage would be interested in owning a home in Malaysia.

    In the conjunction with Al Rajhi’s first branch in Penang, the bank is making a special personal financing introductory offer at its branches in Penang, Johor Baru, Melaka and Kuching.

    “Salaried applicants and self-employed business people can enjoy personal financing of up to RM150,000 at a preferred rate. The offer is valid from August 16 to 30,” he said. 

    The bank has also developed new Islamic financial products with a Middle Eastern flavour for the retail and wholesale market in the country.

    “We are also embarking on designing made-in-Malaysia Islamic banking products and services that will contribute to Malaysia’s reputation as a trailblazer in Islamic banking.”


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    Posted Date: August 17, 2007 12:00:00 AM
    MRCB unit purchases land in KL Sentral

    MRCB unit purchases land in KL Sentral

    Malaysian Resources Corp Bhd 60% owned Excellent Bonanza Sdn Bhd has recently purchased two parcels of land measuring 95,131sq ft in Kuala Lumpur Sentral from Kuala Lumpur Sentral Sdn Bhd for RM99 million.
    Aug 17, 2007

    Malaysian Resources Corp Bhd 60% owned Excellent Bonanza Sdn Bhd has recently purchased two parcels of land measuring 95,131sq ft in Kuala Lumpur Sentral from Kuala Lumpur Sentral Sdn Bhd for RM99

    million.

    The land is planned to be developed into a boutique business hotel and office towers, boasting a gross development value of at least RM620 million, said a statement.


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    Posted Date: August 16, 2007 12:00:00 AM
    MK Land launches Merdeka Property Carnival

    MK Land launches Merdeka Property Carnival

    MK Land Holdings has recently launched a merdeka property carnival in conjuction with the country's 50th year of independance, which will run through August 15 to October 15.
    Aug 16, 2007

    MK Land Holdings has recently launched a merdeka property carnival in conjuction with the country's 50th year of independance, which will run through August 15 to October 15.

    Purchase

    rs of the group's Damansara Perdana and Damansara Damai developments during this period are entitled to win household products worth RM10,000 as well as a return air ticket to one of six international destinations, which include Sydney, Perth, Dubai, Shanghai, Hong Kong and Bali.

    The carnival also features talk on property matters, joint promotions with participating banks and a 24-hour exhibition from 10am on August 30 to 6pm on merdeka day itself.

     


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    Posted Date: August 16, 2007 12:00:00 AM
    iProperty.com.my parent company confirms IPO

    iProperty.com.my parent company confirms IPO

    iProperty.com.my parent company IPGA Limited (www.ipgalimited.com) has today confirmed its initial public offering on the Australian Securities Exchange.
    Aug 16, 2007

    iProperty.com.my parent company IPGA Limited (http://www.ipgalimited.com/) has today confirmed its initial public offering (IPO) on the Australian Securities Exchan

    ge.

    IPGA is majority owned by Catcha Media Group, one of South East Asia’s leading media and entertainment groups with operations in Singapore, Malaysia, Indonesia and Hong Kong. Its portfolio includes Malaysia’s largest English language publisher, Catcha Publishing which publishes 13 titles in the Malaysia market.

    IPGA executive chairman Patrick Grove said, “We are very excited to have the opportunity to tap into capital markets which will give us the resources to take the business to another level.”

    He added, “A significant part of the proceeds from the IPO will be used to replicate the success of iProperty.com.my in other Asian markets, such as Singapore, Thailand and the Philippines, which the company plans to enter by way of acquisitions, some of which will be made immediately subsequent to the IPO.”

    Established in 2003, iProperty.com.my today dominates the Malaysian online property market. The website works with over 600 real estate agents and 80 top developers to advertise over 15,000 properties. The company has also expanded to include a high-end counterpart with.iLuxury.com.my.

    “In the last eight years, the growth of online property websites in the United Kingdom and Australia has been phenomenal,” Grove said, adding that, “Those markets now have 70% to 90% of agents paying to advertise with online portals. In Asia the figure is still 10%, which means that there is still enormous potential for market growth.”

    From January 2006 to April 2007 visitors to iProperty.com.my increased by 295% to over 350,000 per month. iProperty.com.my has been confirmed as Malaysia’s leading online property website by both Alexa.com and an independent report by Frost &


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    Posted Date: August 15, 2007 12:00:00 AM
    Oilcorp and Amanah Raya to jointly develop in KL Sentral

    Oilcorp and Amanah Raya to jointly develop in KL Sentral

    Earlier this week, Oilcorp Bhd subsidiary Magic Coast Sdn Bhd and Amanah Raya Bhd subsidiary Amanah Raya Development Sdn Bhd have signed an agreement to jointly develop a 35-storey office tower and a 33-storey hotel block in KL Sentral.
    Aug 15, 2007

    Earlier this week, Oilcorp Bhd subsidiary Magic Coast Sdn Bhd and Amanah Raya Bhd subsidiary Amanah Raya Development Sdn Bhd have signed an agreement to jointly develop a 35-storey office tower and

    a 33-storey hotel block in KL Sentral.

    With a gross development value of RM330 million, the development will be called D’Tiara AmanahRaya Hotel Suites & Corporate Offices, and boasts to be “an excellent location to work, relax and recharge in the Klang Valley.”

    Work on the 8,871sq meter freehold project will begin next month, with completion expected by late 2010.

    The corporate office building will be situated at the development’s entrance and will feature a 360 degree view of its surroundings, which include a view of downtown Kuala Lumpur as well as the greenery of Lake Gardens.

    The structure will accommodate 400 parking bays and has a total net saleable area of 420,000sq ft, including 21,650sq ft on both level one and six to be earmarked for a banking hall or a business centre.

    The suites will be available or sale in the near future, which will come with an attractive leaseback program that will guarantee to pay a minimum of seven percent net returns for five years to each buyer, said a statement.

    While, the hotel suite to be situated next to the office building, will “compliment the ideal of having a work and life balance.”

    Oilcorp chairman Mohamed Taib Mahmood said, “Our aim at Oilcorp is to increase the property division in the coming years via larger developments that we have coming on stream, such as our D’Tiara Office and Hotel Suites and our upcoming D’Tiara Leisure & Health Resort in Genting and D’Tiara Waterfront Resort development in Pulau Indah, Selangor.”

    Over the next four to five years, the group is aiming to launch three new property development projects, including the D’Tiara AmanahRaya Hotel Suites and Corporate Offices, which in total constitutes an estimate GDV of about RM1.2 billion.


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    Posted Date: August 15, 2007 12:00:00 AM
    AXIS Atrium signs AEON D’Hati

    AXIS Atrium signs AEON D’Hati

    The RK Group of companies has unveiled the latest commercial addition to their AXIS Pandan development within the heart of the Pandan district called AXIS Atrium.
    Aug 15, 2007

    The RK Group of companies has unveiled the latest commercial addition to their AXIS Pandan development within the heart of the Pandan district called AXIS Atrium.

    Planned to be a vibra

    nt retail centre, a joint signing ceremony with its upcoming retailers was held last Saturday at the site with the Minister of International Trade and Industry Malaysia Dato Seri Rafidah Aziz bearing witness to the event.

    AEON Co (M) Bhd signed on as the retail centre’s anchor tenant with its Pasaraya AEON D’Hati, which is set to take up 20,597sq ft of retail space. It will open its doors with AXIS Atrium’s opening on August 8 of next year.

    Managing director of AEON Nagahisa Oyama said, “We at AEON are delighted to be part of AXIS Pandan development to enhance the living standards in Pandan.”

    The centre is planned to be a two-and-a-half-storey neighbourhood retail centre that will span across 200,000sq ft of space and is part of the RM237 million AXIS Pandan development, which comprises of serviced apartments, small office home units and serviced condominiums.

    “AXIS Atrium will not just be a house to established retail brands. The neighbourhood retail centre will be a place that provides an opportunity to budding entrepreneurs by providing them facilities that will enable them to start their business in a small scale,” said group managing director Roslan Khalid.


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    Posted Date: August 14, 2007 12:00:00 AM
    MK Land launches e2L

    MK Land launches e2L

    MK Land Holdings Bhd is sponsoring a basic computer course provided to the Royal Malaysia Police through its Educate to Learn Sdn Bhd (e2L) group of companies.
    Aug 14, 2007

    MK Land Holdings Bhd is sponsoring a basic computer with Yayasan EMKAY through its Educate to Learn Sdn Bhd (e2L) group of companies.

    e2L and its three subsid

    iaries are involved in early childhood development, which focuses on assisting rural, urban poor and disadvantaged communities.

    The company also acts as consultants for the set up of children’s learning centres, training providers for early learning programmes and developers of teaching and learning resources.

    The group’s revenues, the corporate general manager of e2L Azmil Zakaria said, are derived mainly from the setting up of learning centres in various communities, which are sponsored by corporations – namely from the construction and property development and insurance sectors.

    Investments in the learning centres varied from RM55,000 to RM135,000, depending on its requirements, he said.

    He added that e2L is also in sponsorship discussions with a local telecommunications company and expects to add seven more to its nine Toy Library learning and activity centres nationwide by the end of the year.

    Among e2L’s other activities include being the consultant for 160 childcare centres and kindergartens as well as it owning and operating two childcare centres.


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    Posted Date: August 14, 2007 12:00:00 AM
    RB Land receives good response for Signature Series Homes

    RB Land receives good response for Signature Series Homes

    RB Land Holdings Bhd hopes to sell all of the units in its Signature Series Homes in Bayu Segar, Cheras by the end of the year.
    Aug 14, 2007

    RB Land Holdings Bhd hopes to sell all of the units in its Signature Series Homes in Bayu Segar, Cheras by the end of the year.

    So far, the company had received overwhelming response for i

    ts limited-edition homes at its launch last Saturday, said Managing director Datuk Soam Heg Choon, with 50 out of the 96 semi-detached homes sold in just two days.

    “We have sold nearly 80%, or 30 units, of semi-detached homes in phase one and about 30%, or 20 units, in phase two” he said.

    The semi-detached units boast a contemporary design and are priced from RM1.46 million, while the bungalows feature a built-up area of 5,900sq ft and are tagged from RM2.6 million to 3.2 million.

    The high-end gated and guarded RM150 million Bayu Segar development is expected to be completed by July 2009.

    Bayu Segar is located in close proximity to major highways, such as the Kesas Highway, Middle Ring Road II, Seremban Highway and Federal Highway.


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    Posted Date: August 13, 2007 12:00:00 AM
    Ireka buys land in Mont’ Kiara

    Ireka buys land in Mont’ Kiara

    Ireka Corp Bhd has recently purchased a piece of land in Mont’ Kiara from Telekom Malaysia Bhd for RM10.8 million or RM200psf.
    Aug 13, 2007

    Ireka Corp Bhd has recently purchased a piece of land in Mont’ Kiara from Telekom Malaysia Bhd for RM10.8 million or RM200psf.

    The developer bought the land under a tender exercise, it said

    in a statement to Bursa Malaysia. However, Ireka did not state what it intends to do with the land.


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