6 | CEO’S COVERFOREWORD STORY
EDITORIAL
We are Property Magazine of the Year (again)
Editor Chang Yan Yi Writer Yogeetha H. Jeevan DESIGN Senior Graphic Designer Irene Lim Graphic Designer Jason Kwong WING WONG
thank you!
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We were delighted when we were told that we clinched the title as property magazine of the year from Advertising + Marketing for the third consecutive year. It’s a tremendous honour!
Magazine Co-ordinator Sarah Samad
The award once again reaffirms our position as not just Malaysia’s No.1 property portal but also the country’s preferred property magazine for property buyers and investors.
Agent Sales Manager Leon Kong
Thank you for your support! Without you, our readers and advertisers, we couldn’t have achieved this. We look forward to clinching the award next year as well!
Consumer Communications Manager Foo Chia Chern
Our promise to you is that we will continue to uphold the quality of our magazine and provide you with the most comprehensive and up-to-date news on the property industry, property commentaries and interviews with industry leaders.
Customer Product Manager Franz Narcis
On a separate note, please do consider this as a personal invitation to join us for the iProperty.com Real Deal EXPO at the Kuala Lumpur Convention Centre from the 15th – 17th of June 2012. We look forward to seeing you there!
Sincerely
Head of Display Sales Lily Kong
AGENT ADVERTISING
MARKETING
CONSUMER Product Manager MATTHEW WONG
Customer Communications Manager Angela Sargunan MANAGEMENT Chief Executive Officer Shaun Di Gregorio Country Manager – Malaysia Timothy Hor Manager Business Operations Loh-Lim Shen Yi iProperty.com Malaysia Sdn Bhd (600850-K) 45-6 The Boulevard, Mid Valley City Lingkaran Syed Putra, 59200 Kuala Lumpur, Malaysia. Phone: (603) 2264 6888 | Fax: (603) 2264 6999 Sales enquiries: my.sales@iproperty.com Editorial matters: editorial@iproperty.com General enquiries: my.info@iproperty.com Subscription: subscription@iproperty.com
Shaun Di Gregorio Chief Executive Officer The iProperty Group
iProperty.com Magazine is published monthly by iProperty.com Malaysia Sdn Bhd 45-6 The Boulevard, Mid Valley City, Lingkaran Syed Putra 59200, Kuala Lumpur, Malaysia. Disclaimer Although every reasonable care has been taken to ensure the accuracy of the information contained in this publication, neither the publisher, editor nor their employees and agents can be held liable for any errors, inaccuracies and/or omissions, howsoever. We shall not be responsible for any loss or damage, whether direct or indirect, incidental or consequential arising from or in connection with the contents of this publication and shall not accept any liability in relation thereto. The views by our contributors expressed here are their personal opinions and do not necessarily reflect iProperty.com’s views. Unless otherwise noted, all artwork and ad designs printed in iProperty.com Magazine are the sole property of iProperty.com Malaysia Sdn Bhd, and may not be reproduced or transmitted in any form, in whole or in part, without the prior written consent of the publisher. Printer Percetakan Osacar Sdn Bhd Lot 37659, No. 11, Jalan 4/37A Taman Bukit Maluri Industrial Area Kepong, 52100 Kuala Lumpur, Malaysia. Distributor MPH Distributors Sdn Bhd
12 | NEWS | GOVERNANCE
PR1MA scheme to extend to Bandar Nusajaya Kuala Terengganu (May 2) - The Construction Industry Development Board (CIDB) is concerned with accidents at construction sites and the poor workmanship. Chief Executive, Datuk Seri Dr Judin Abdul Karim, said the CIDB Malaysia Act 1994 (Act 520) has been amended to increase the level of safety at construcion sites and ensure that quality building materials were used. "The amendment also aims to ensure that a project is undertaken by a responsible contractor using quality workmanship," he told a media briefing after officiating at the launch of the Seminar on Legal Reforms in the Malaysian Construction Industry here today. Judin said CIDB hoped that Act 520, which would be enforced early 2013, would help to reduce the number of accidents at construction sites and cases of poor quality workmanship would be over.
"The accidents at the work sites can be reduced if all parties follow the guidelines issued by the authorities.�
Government Gives RM40mil to Revive Abandoned Projects Kuala Lumpur (May 15) - The government has injected RM40 million to help revive 14 low-cost housing projects abandoned nationwide between 2009 and March this year, Housing and Local Government Minister Datuk Seri Chor Chee Heung said today. The 14 were among the 177 abandoned projects, of which 100 had since been completed, he said. "Some 100 abandoned private housing schemes have been completed and the units handed over to the buyers. "The federal government worked hard to ensure that the abandoned private housing schemes were rehabilitated and the units handed over to the buyers as soon as possible," he told reporters after visiting the Li Garden Apartments project, an abandoned low-cost housing scheme in Kepong, here. Chor said the rest were revived through private sector initiatives. "The remaining 77 projects are now under construction and at various stages of completion," he said. He also said that Selangor recorded the highest number of 31 abandoned housing projects in the country. The Li Garden Apartments project, which consists of 540 low-cost units, was abandoned in 2006 after developer Gallant Acres Sdn Bhd went bankrupt. Its landowner, Kepong Development Sdn Bhd, and liquidator Tetuan Hals & Associates later agreed to resume and complete the project. The project is now 85 per cent complete and Chor said it was expected to be completed and handed over to the owners in February next year.
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My First Home Scheme Applicants To Meet Banks' Criteria Kuala Lumpur (May 11) - My First Home Scheme introduced by the government last year is not an assurance that all first-time buyers of a house priced between RM100,000 and RM400,000 are eligible for housing loan, the Senate was told Thursday. Instead, Deputy Finance Minister Datuk Dr Awang Adek Hussin said the buyers' eligibility for loan would depend on their financial ability and credit evaluation conducted by the banks involved in the scheme. "The buyers still have to fulfill the basic criteria set by the banks," he said in reply to Senator Lee Cheam Choon. Awang Adek said as at March 2012, a total of 1,709 applications for housing loan under the scheme had been received by the participating banks and financial institutions. However, 589 applications could not be processed due to overlapping applications at different banks, bringing the total to 1,120.
Selangor Sultan urges state developers to pursue green projects Shah Alam (May 4) - The Sultan of Selangor, Sultan Sharafuddin Idris Shah, Thursday called on housing developers in the state to set aside funds for greening of the environment. He said the existence of green areas as a key component in a housing area was crucial for the overall development of Selangor. "It has to be ascertained that the location of the green area is strategic and practical for residents to go and carry out recreation activities. "A good example of a housing area is one that is safe, clean, the people living in harmony and unity among the people of all races. "Tree planting for greening is also in support of the initiative to save the environment, that is towards having a green and sustainable environment," said the Sultan when launching the 'Trees To Green', a corporate social responsibility (CSR) project by I & P Group Sdn Bhd at Alam Impian here.
14 | NEWS | FINANCE
"The affluent market in Malaysia is large, growing and more sophisticated than before. The FuturePriority Report enables us to have a deep understanding of our customers and fulfill their financial aspirations and needs," she said. The report was derived from a study conducted by Standard Chartered Bank and Scorpio Partnership.
Affluent Malaysians Have Higher Wealth Target Kuala Lumpur (May 4) - Seventy-five per cent of rich Malaysians are confident of growing their wealth in the next one year with an ambitious target of US$3.7 million (RM11.2 million) in 10 years, from less than US$1 million now revealed Standard Chartered Bank (Malaysia) Bhd in its FuturePriority Report. The bank's country head of consumer banking Tiew Siew Chuen said to achieve the target, they need to grow their assets by 15 per cent per annum.
It captured the sentiment of over 2,700 Asian affluent individuals across nine markets (Malaysia, Indonesia, Thailand, India, China, South Korea, Singapore, Hong Kong and Taiwan). Among total respondents, 250 were Malaysians with net asset worth of at least US$855,000 (RM2.59 million). Tiew said Malaysian investors usually invest in gold, high interest savings, unit trusts and real estate. The investors also recognise that they can make use of credit to enhance their investment returns. Most affluent Malaysians, she said, take loans for car purchases, followed by property investments and personal loans. "Borrowing is no longer seen as a liability to one's wealth. Instead, when used carefully, it is a wealth management tool," she said. "Investment property loans featured highly in the report. Sixty-one per cent of the respondents would consider a home to be a good asset, above and beyond a comfortable place to live," she added.
BNM's Loan Guidelines Start Showcasing Desired Effect Kuala Lumpur (May 4) - Bank Negara Malaysia's (BNM) prudent lending guidelines for banks, which kicked in this year, amid much controversy, are starting to have the desired effect of slowing down growth in higher risk consumer loans. Analysts noted that the latest banking system monthly loans data released by the central bank for March showed clearly that the guidelines had helped moderate loan growth in areas, like hire purchase, personal loans and credit cards. "Trends in January and February were distorted by the festive seasons and fewer working days. "The results in March, on the other hand, would allow us to conclude that BNM's prudent financing guidelines are beginning to have the desired effect of moderating loan growth in the higher risk segments," said an analyst at Maybank Investment Bank Research (MIB). Loan growth in the household segment moderated to 11.9 per cent in March from a year ago, compared to a figure as high as 13 per cent in December 2011. The reason for this is that hire purchase
and personal loans continued to slow. However, demand for residential and non-residential property loans remained solidly entrenched. Automotive companies were not happy when BNM's rules, which resulted in stricter processes, came into place this year as they were worried it would hurt car sales. The pace of loan growth for passenger vehicles slowed to 5.4 per cent in March, compared with 5.6 per cent in February and 6.2 per cent in December. On the whole, banking loans expanded by 12.2 per cent in March, compared with 11.9 per cent in February. "Lending appears to be trending in the right direction at this stage, with household loan growth moderating and non-household loans picking up the slack," the MIB analyst said. He kept his 2012 loan growth forecast of 10.5 per cent for the year and maintained a "neutral" call on the banking sector, with his top investment picks being Public Bank Bhd and BIMB Holdings Bhd.
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RHB Expects Home Loans to increase Retail Loan Kuala Lumpur (May 8) - RHB Bank expects its retail banking loan growth at between 10 and 12 per cent this year, driven mostly by home financing. Its acting director for retail banking Vince Au Yoong said the bulk of RHB Bank's loans, at about 50 per cent, come from housing loans. "Consumer confidence in Malaysia is expected to remain strong this year due to the strong economic growth," he told reporters here yesterday after the launch of the bank's new credit card, the RHB Visa Infinite. "Despite Bank Negara Malaysia's latest figures, which showed that there have been a drop in the submission to banks for financing, we are still seeing a fair number of applications and we are expecting some growth," he added. He said in retail banking, car loans is the second driver of growth attributing between 20 and 30 per cent of the total loans, followed by credit card, personal financing and the Amanah Saham Bumiputera loan financing. Yoong also said that non-performing loans in the bank is still manageable at three per cent, slightly above the industry figure of two per cent. On the growth of its credit card business, he said currently RHB Bank holds a 6.2 per cent market share in the card segment.
"In terms of credit card usage, our growth yearon-year is at 16 per cent, almost double the industry growth of nine per cent," he said. For the new RHB Visa Infinite credit card, he said the bank is targeting to rope in 30,000 customers in the next 12 months. The new card is for the high profile who gives emphasis to travel and leisure, targeted at those between 30 and 50 years of age, with a minimum annual income of RM240,000. The card, among others, offers a variety of rewards, such as what it claimed to be the first of its kind "airport speed pass" access at three Asia Pacific airports' immigration lanes in Jakarta, Manila and Bangkok. Visa Malaysia country manager Stuart Tomlinson is confident that the card will be well received by the Malaysian consumers due to the rising affluence in the country. There are now 39,000 millionaires in Malaysia and the number has been steadily rising in recent years, he said. At the event yesterday, RHB Bank also gave away prizes to the winners of its recent "RHB RM50 Is All It Takes" contest, the prizes of which included a hotel suite at One@Bukit Ceylon, a BMW 3-series and a 1.5 carat diamond.
MBSB Records Modest Growth Rate in 1Q 2012 Kuala Lumpur (May 15) - MBSB Group recorded a pre-tax profit of RM110 million, an increase of 21% yoy, for 1Q 2012. The 1Q profit is a 9% jump qoq, compared to a pre-tax profit of RM101mil for 4Q 2011. Net loan, advanced and financing stood at RM17.6mil 1Q 2012, a 16% increase qoq from RM15.2mil in 4Q 2011. This contributed to net earnings per share of 6.53 sen and an annualised return on equity of 27%. "Our Group's improved performance is due to a better net interest margin contribution from corporate business in addition to retail business," said MBSB President and CEO, Datuk Ahmad Zaini Othman. He added that retail business, especially Personal Financing-i, largely contributed to asset growth, though 1Q 2012 saw a slight decrease in margins as a result of lowered financial rates. MBSB has also embarked on a new product, Auto Finance, currently available only for Klang Valley customers. MBSB's key retail market, government servants, continues to support its growth.
16 | NEWS | Asia Pacific Property Awards
Naza TTDI shines in the Asia Pacific Property Awards Kuala Lumpur (May 2) - Naza TTDI Sdn Bhd bagged five wins and was announced as the international nominee for the Asia Pacific region at the Asia Pacific Property Awards ceremony held last week here. With four ‘Five Star’ awards which were the most prestigious recognition of the evening and one ‘Highly Commended’, the success surpassed its previous wins in 2009 and 2010 where the developer won two awards accordingly. Naza TTDI received two ‘Five Star’ awards for its Mosque in Section 13, Shah Alam in the Best Public Service Development and Best Public Service Architecture categories. The mosque will be re-judged against those from the other regions to determine the ultimate World’s Best winner. The third ‘Five Star’ award was in the Best Office Architecture, Malaysia for Naza Tower at Platinum Park and the fourth ‘Five Star’ award was in the Best Commercial High-rise Development Malaysia for Phase 3 and 4 of Platinum Park. ‘Highly Commended’ award was given to the company for Developer Website was for the company’s website at www.nazattdi.com. "This year’s multiple success was indeed a pleasant surprise and that the wins put the company in the right direction for Naza TTDI’s brand in being internationally recognised and also position the organisation towards being a leading property developer in the country. "I must attribute the success to the team spirit and cooperation of all staff as well as the support of business partners and associates," said Deputy Executive Chairman and Group Managing Director, SM Faliq SM Nasimuddin. The mosque in Section 13, Shah Alam is earmarked to be the first ‘green’ mosque in Malaysia. It will have features
such as natural lighting and ventilation, rain-water harvesting, water-saving sanitary fittings, energy saving light fittings, 30% green landscape as well as an insulated dome design. The other winning development, Platinum Park, is destined to be the latest iconic mixed development within the vicinity of Kuala Lumpur City Centre (KLCC).
BOLTON Scores at the Asia Pacific Property Awards Kuala Lumpur (May 3) - BOLTON Berhad’s urban rejuvenation development, 6 Ceylon, was awarded the “Best Residential Renovation/ Redevelopment Development” honour at the Asia Property Awards 2012 held here recently. 6 Ceylon is the second project by BOLTON to gain recognition at the Asia Pacific Property Awards following The Wharf which received a Highly Commended Award under the Mixed Use Development category last year. “We are indeed honoured that 6 Ceylon has received this prestigious recognition and we are immensely proud of the fact that our development is now in the running for World’s Best recognition.
"Attaining this award does not allow us any room for complacency and we will continue to challenge ourselves to offer products that stand out and exceed the expectations of the market,” said BOLTON Executive Chairman Datuk Azman Yahya. Located in the Bukit Ceylon residential area, 6 Ceylon is a modern 33-storey high-rise condominium which offers compact, flexible living spaces on a 0.91-acre plot. Featuring 215 units with built-up areas ranging from 696 sq ft to 1,555 sq ft, 6 Ceylon was released for sale two years ago with prices starting from RM800 per sq ft. 6 Ceylon was formerly Bolton Court, an ageing 37-year-old condominium which was built in the 1970s.
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OSK Bags Five Wins at Asia Pacific Property Awards Kuala Lumpur (May 3) - OSK Property Holdings Berhad won five awards at the Asia Property Awards 2012 held here recently. OSK Property was recognised in the categories of Mixed Use Architecture, Office Development (including the regional award), Commercial Redevelopment and Residential Property Interior for its projects Pan’gaea, Paragon, Atria and Mirage by the Lake respectively. Pan’gaea is a 16-acre mixed development project in Cyberjaya, comprising of four service apartments, one office tower, one boutique SOFO suites, street malls, a shopping mall and a boutique hotel. Paragon is Pan'gaea's SOFO development, an outstanding architectural beauty with high efficiency, and a green and pragmatic spatial planning for a new office typology. Atria takes the place of the old Atria shopping mall, RM1 billion development that will feature a modern 5-storey lifestyle shopping gallery and two 16-storey SOFO Suites. The final winning development, Mirage By The Lake, appointed luxury Italian interior and furniture design company Saporiti Italia to undertake the interior design of the show villa and condominium units.
UEM Land Emerges Winner in Recent Asia Pacific Property Awards Kuala Lumpur (May 21) - UEM Land Holdings Berhad emerged winner for its East Ledang development at the recent Asia Pacific Property Awards held here. East Ledang, which won the Best Architecture Multiple Residence, is a gated and guarded community garden residential development situated in Nusajaya, Johor. This is a return winning participation for East Ledang as it received a Highly Commended award for the Development category in the Asia Pacific Property Awards 2009. UEM Land also received Highly Commended awards in three categories at the national level for its other developments - Mixed-use Development for Puteri Harbour, as well as Commercial Highrise Development and High-rise Architecture for Angkasa Raya. “We are delighted to receive such prestigious awards for our projects in both Kuala Lumpur and Nusajaya. "These accolades are not only positive affirmation for our efforts but will also spur us to continue improving innovation and quality while providing
market- driven and sustainable products which create value,” said Dato’ Wan Abdullah Wan Ibrahim, UEM Land Managing Director and Chief Executive Officer. As one of Asia Pacific award winners, UEM Land’s East Ledang will progress to compete against other winning projects from Europe, Africa, the Americas and Arabia to vie for the World’s Best title. UEM Land is no stranger to the Awards, having won the Asia Pacific’s Best Golf Development and achieved 5-star ratings in the Best High-rise Architecture and Best High-Rise Development categories in 2009, Best International High-rise Development in 2010, and Best International Commercial High-rise Development in 2011.
18 | NEWS | Property Market Updates
Andaman Group Hands Out 100 NAC Tickets Subang Jaya (May 14) - Andaman Group today presented tickets to the National Achievers Congress in Malaysia to its loyal customers at its sales gallery here. Around 100 tickets valued between RM1,000 and RM5,000 will be handed out in total, ranging from general seats to VIP access. The National Achievers Congress, a 3-day workshop from 29 to 31 May, features author of bestselling Rich Dad, Poor Dad Robert Kiyosaki and a host of other internationally renowned speakers.
RM100,000. Tiew added that a special "Meet Robert in Person" session will be held in Summit Hotel on 28 May for the public to meet and greet the investment guru in person.
"We believe the best way to reward our loyal buyers is by engaging and educating them by presenting them with the platform and learning opportunities on wealth generation and smart property investment mind-sets," said Datuk Dr Vincent Tiew, Andaman Group sales and marketing director. This loyalty campaign, the first undertaken by Andaman this year, costs over
agencies and property developers. The portal currently receives 50,000 consumer visits per month, generating 500,000 page impressions and has 60 registered agents as paying subscribers. “Following our success in making gohome.com. hk the leading property portal in Hong Kong, we see the Macau based vproperty.com as a natural extension in the region," said iProperty Group CEO Shaun Di Gregorio. He added that the acquisition provides the company with clear market leadership in both Hong Kong and Macau and improved access to property investors from mainland China.
iProperty Group acquires Macau's vproperty.com Kuala Lumpur (May 7) - iProperty Group Ltd today announced that it has agreed to acquire vproperty. com, a property portal in Macau. The acquisition extends the reach of the Group in the region with the Macau-based portal being managed by the iProperty Group’s gohome.com.hk business. vproperty.com is the clear leader in Macau and currently generates revenue from local real estate
"It’s the world’s most dynamic region and the acquisition of vproperty.com provides us with an expanded footprint and presence,” Di Gregorio said. With a population of 500,000 Macau attracted 28,000,000 visitors in 2011, 65% of whom are from mainland China. Macau is experiencing extraordinary economic growth with GDP increasing by 21% in 2011 powered by the gaming and entertainment industry and lies at the heart of the Pearl River Delta area. iProperty Group has agreed to acquire vproperty.com for US$300,000 in cash upon completion of the acquisition. This acquisition will be paid for using existing cash reserves.
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IGB and Selia Pantai Sign MoU for Land Kuala Lumpur (May 21) - IGB Corporation Berhad and Selia Pantai Sdn Bhd signed a joint-venture to acquire and develop land in Johor Bahru here recently. The three parcels of leasehold land in Mukim Plentong will be developed into a retail mall and/or mixed development, as approved by authorities. Selia Pantai has also established two joint-ventures with Southkey Mall Sdn Bhd and Dimensi Magnitud Sdn Bhd to acquire and start on the proposed development on the said land. Southkey Megamall and Dimensi Magnitud, which are now wholly owned by IGB, have entered into conditional Sale and Purchase Agreements to acquire the land for a total cash consideration of RM259,136,790 or RM165.00 per square foot.
IGB will finance its investment in the Land and working capital towards payment for the proposed development using internally generated funds and/ or bank borrowings.
LBS Launches Final Phase of Cameron Highlands Development
affordable RM406,900. Shop lots on the ground floor provide further convenience as well as retail opportunities. Eleven units with built-up areas of 392 sq ft are priced from RM293,900.
Petaling Jaya (May 17) - Property developer LBS Bina Group Berhad launched their Suriana shops and apartments in Taman Royal Lily, Cameron Highlands yesterday. Boasting a central location in one of Malaysia’s largest and best known hilltop retreats, the final phase of a limited 55 units of 5-storey shop apartments with lifts are now available.
Launched in December 2002, Taman Royal Lily comprises 30 acres of mixed development of shops, apartments, double storey terraces and bungalows, which are fully completed. Suriana is expected to be completed in 2015 and has an estimated GDV of RM21.5 million.
“Cameron Highlands is one of Malaysia’s top travel destinations. Suriana offers families not only a fabulous holiday getaway home, the ready market of holidaymakers also make it a fantastic investment opportunity,” explained LBS Managing Director, Dato’ Lim Hock San. Set in Tanah Rata, the development is close to facilities such as restaurants and food outlets, banks, bus station, trader’s market, hospital, police station and post office. Suriana 5-storey shop apartments consist of 44 units of apartments with built-up areas of between 904 to 930 sq ft with 3 rooms and 2 baths and are priced from an
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20 | COVER STORY
Heightened Lifestyles at
Garden Heights
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uburban yet refined, serene yet highly accessible, Garden Heights in Bandar Tasik Puteri promises a lifestyle that is connected to the heart of Kuala Lumpur yet peaceful enough for country living. After all, Rawang’s high-growth potential is being realised now by homeowners and investors alike.
rock-bottom prices for landed quality homes – making them suitable investments for first-time home owners and those in the middle-income group looking for a viable solution. Hence, young married couples looking to settle down or young urban professionals looking for their own pad to live, work, and play in will find these homes a quintessential treasure.
Elevated Investment Yields Garden Heights is a 76.05-acre constellation of 123 double-storey terrace homes within the popular and vast Bandar Tasik Puteri township. These beauties start at a competitive RM305,200 to RM478,300,
The homes come in two unique contemporary designs, namely Type 4 and Type 5, flexible enough for the young and trendy youth as well as the smart and savvy. The land area comes at 18’ x 75’, and minimum built-up for the homes is 1,600 sq ft with the maximum
01
22 | COVER STORY being 1,900 sq ft. With these capacities, each home comes with 4 bedrooms and 3 bathrooms, so whether you are a couple in love, have a small family to house or just a bunch of friends living together, space will never come between you and your loved ones.
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18” x 75” double-storey terrace houses with modern architectural design Garden Height’s iconic nature lady. The epitome of nature living Proposed entrance statement Spacious living area in a typical 18” x 75”
The Garden Lifestyle Garden Heights, is the epitome of green living with its proximity to Puteri Central Park, a green park within the township. There is also a golf course and clubhouse with amenities available for residents, to further reflect the green and sustainable lifestyle the township offers. Bandar Tasik Puteri is also a guarded township, where security is upheld to provide a peaceful and safe environment for its residents. Bandar Tasik Puteri has all the necessary amenities a township should have, like shops, primary and secondary schools, police stations for enhanced security and safety, a surau for the Muslim residents to fulfil their daily prayers, and even a college, namely Victoria College, for those who want to pursue education close to home. There is even a post office, ATM machines, and a dialysis centre within. Banks, hypermarkets, and even shopping malls are just a short drive out of the township.
Garden Heights is due for completion by the third quarter of 2014. With a GDV of RM43 million in total, Garden Heights is also poised to be a worthy investment real estate as the current minimum land price is valued at RM190. Above the accumulated value of the development, early birds will chirp with delight at the 5% discount offered by the developers, while bumiputera buyers all enjoy a 7% discount. To discover more on Garden Heights and
Increased Access, Immense Investment Opportunity Far from being a remotely located township, Rawang is coming into its own as a township that is directly accessible through Kepong via the Kepong-Selayang Highway, the North Klang Valley Expressway (NKVE) that leads directly into the North-South Highway and the Guthrie Corridor Expressway (GCE) that connects directly to Shah Alam and Klang in the South East. With such a network of highways and expressways, it is no surprise that Rawang is now only 20 to 30 minutes drive away from most of the major hubs in Klang Valley.
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04 the Great Savings Package being offered, all you have to do is visit www.bandartasikputeri.com.my or call (603) 6034 5390. Premium Value by a Prominent Developer Indah Jaya Development Sdn Bhd is a subsidiary of the renowned Low Yat Group. Primarily a premier developer
Location Map
and investment group, the Low Yat Group was originally established with the setting up of Low Yat Construction Company Sdn Bhd on 10 October 1947 to carry out construction business, before diversifying into trading, manufacturing, hotel and tourism industries. Low Yat Group’s property developments now include up-market 5-star hotels, condominiums and service apartments in Kuala Lumpur and abroad.
iProject Listing QuickPro No: NC2456 Project Name: Garden Heights City: Bandar Tasik Puteri, Selangor Property Type: 2-sty Terrace/Link House Land Title: Residential Tenure: Leasehold Land Area: 76.05 acres Listing Price: From RM305,200 - RM478,300 Total Units/Lots: 123 Bumi Discount: 7% Completion Date: 2014 (Expected) Developer: Indah Jaya Development Sdn Bhd (27319-U) 468-6, 1st & 2nd Floor, Batu 31/2 Jalan Ipoh, 51200 Kuala Lumpur. Phone: (603) 6034 5390 Fax: (603) 6034 3664 Website: www.bandartasikputeri.com.my
Visit iProperty.com.my for more details
26 | IPROPERTY INSIDER
iProperty Mid Valley Exhibition Expo @ Centre (MVEC) The whole of Klang Valley was abuzz as iProperty Expo made headway at the Mid Valley Exhibition Centre. The three-day bonanza of real deals for properties by the top developers in Malaysia truly brought property ownership and purchase to new levels. Here’s the scoop!
WHEN : Friday – Sunday, May 4-6 2012 WHERE : Mid Valley Exhibition Centre (MVEC) WHAT : Property showcase of over 55 property developers in Malaysia WHO : Over 24,000 visitors and 66 exhibitors over 5,567 sqm
S P Setia’s 20 featured projects all came with their own models.
iCity’s model of modern living.
The crowd benefitting from the Real Deal Campaign during the Expo.
The Registration Counters were packed.
OSK Properties featured an eye-catching booth display.
The Regina kept a regal hold on buyers’ interest during the showcase.
Third-party vendors were not excluded from record-breaking exhibition revenues.
So too were the Seminar sessions.
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Sime Darby’s Lifestyle Collection had the crowd coming out in droves.
S P Setia’s Setia 4U was indeed an interesting concept.
Buying in Bangsar, one of iProperty.com’s top Area Search.
UEM Land’s diverse activities nationwide created buzz with the crowd.
Rimba Residence’s concept being explained.
Glomac’s futuristic booth design matched their futuristic concepts.
A whole street of properties to whet a buyer’s appetite.
Under One Roof @ S P Setia
S P Setia brought out 20 projects in its diverse portfolio with: • 6 in the Klang Valley • 7 in the South • 2 in the North • 1 in Kota Kinabalu • 2 international projects • 2 open for registration, respectively.
The property developer also had a HR booth set up along with its Pos Malaysia collaboration, SETEM, which featured personalized stamps for the first 400 visitors throughout the 3-day fair. What drew both property purchasers and investors alike though was the Setia 4U Package, which ran throughout the iProperty.com event and after that for three months. Details include: 1. Rebate of 5% pa on cash payments 2. 0% Installment Plan up to 36 months 3. Hassle Free Easy Ownership Package
30 | FEATURED PROPERTY | Sentral Residences I & II
A Stroke of Glamour Sentral Residences I & II
With the Greater Klang Valley initiative making headway, southern Klang Valley is a booming area with Kajang right at the heart of the action. It is no surprise that Kajang’s latest jewel, Sentral Residences I & II is riding on the train of the township’s promising growth and remarkable value. We delve into the factors that make this development a central pillar of success.
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A Central Address to Note in Kajang
Where Health & Sustainability are Central
With Kajang unveiling its quaint old-school charms and stepping into the glitz and glamour of KL City living, Sentral Residences I & II’s arrival is both timely and strategic. The two 14-storey blocks of serviced residences has a total of 270 units spread evenly between the blocks and spans over two acres in Taman Kajang Sentral, one of Kajang’s prime residential townships.
Fancy a swim after a long hard day’s work? At Sentral Residences I & II, you can do just that with their cascading swimming pool and wading pool, made for the leisure of their residents. Not only that, the serviced apartments offer a consortium of healthy lifestyle options, with a perimeter jogging track around the compound, a gymnasium room, a yoga zone, a foot reflexology path, a play fountain and even a sauna that will melt the stresses of daily life away.
Sentral Residences I & II’s freehold units come in nine different contemporary concepts, designed for today’s visual senses, and the built-ups range from a snug and cosy 1,047 sq ft to 1,529 sq ft, perfect for couples, young families or even students. The serviced suites come with 3 to 3+1 bedrooms and 2 to 3 bathrooms, depending on the unit size and all units come with a commercial title.
01 Sentral Residences block I & II 02 Main entrance 03 Multi-tier security system
Socialising is a piece of cake as well, with ready-touse BBQ pits and multipurpose hall, while solitude amidst peaceful serene surroundings is possible with the Sky Garden and Zen Garden within Sentral Residences. There is also a cafeteria for those who prefer to eat out, a surau for the Muslim residents of Sentral Residences I & II, a management office and 2 car parks per home. Absolute peace of mind is guaranteed with a multitiered security system that is both cohesive and comprehensive. There is a guard patrol system throughout the development that complements the guardhouse security right upon entrance into Sentral Residences I & II. The guard house is also replete with an intercom system direct to your unit to ensure no unwanted visitors or unattended guests are within the vicinity. In addition, there is a 24-hour CCTV Security System for total security with minimal intrusions to daily living. Access to the whole project is also complete with a front-entrance access card and a lift access card that guarantees tamper-proof entry and exit points specifically for residents only.
32 | FEATURED PROPERTY | Sentral Residences I & II Solidly Central Reasons of Ownership Sentral Residences I & II is a gem of a residence and investment thanks to its excellent location in Kajang town. Only 700m away from the KTM and the upcoming KVMRT station make it a sound investment with a nearly guaranteed capital appreciation. Almost every major highway within the Klang Valley leads towards Kajang, like the East-West Link via Cheras, LEKAS Highway, the PLUS North-South Highway, and the KL-Seremban Highway. In fact, the development offers direct access to the SILK highway, which leads to Putrajaya, Cheras and more.
Kajang’s reputation has grown vastly in the recent years thanks to the many institutional offices based there, like MIROS and Perbadanan Aset Keretapi, that provide a growing service-oriented commercial and industrial platform for the area’s economic activities. Sentral Residences I & II location is a stone’s throw away from Kajang’s edu-hub with UniKL, Mutiara College, and New Era College all a short drive away. Being a mere kilometre away from Kajang town make them the perfect residences for a blend of commercial and retail convenience, with the presence of shopping malls, hypermarkets, schools and a hospital.
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Swimming pool Roof top garden Roof top garden @ 14 level Living area Dining area
07 Complete & Comprehensive Packages Sentral Residences I & II is the perfect residential property to own for those in the medium to highincome professionals, as the units here are priced competitively from RM368,544 onwards. Scheduled for launch in June 2012, it is expected to be ready by 2015 with very comprehensive packages offered to prospective purchasers. Early birds will receive a special 5% rebate, built-in cabinets for their units, and free SPA and legal fees, with the first 50 buyers also getting free air-conditioners.
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08 Sentral Residences I & II is brought to you by TKS Projects Sdn Bhd, a subsidiary of TKS Group, an established property developer and property owner based in KL and Selangor. The developer is involved in property development, and rental of offices and warehousing space, and is currently concentrating on the redevelopment of Kajang through their Sentral developments. Find out more about Sentral Residences I & II at www.sentralresidenceskajang.com or call (6012) 381 1611 / (603) 8739 7618.
iProject Listing QuickPro No: NC2433 Project Name: Sentral Residences I & II City: Taman Kajang Sentral, Kajang, Selangor Property Type: Serviced Residence Land Title: Commercial Tenure: Freehold Land Area: 2.24 acres Build Up: 1,047 - 1,529 sq ft Listing Price: From RM368,544 Total Units/Lots: 270 Completion Date: 2015 (Expected) Developer: TKS Projects Sdn Bhd A25-A27G, Jalan TKS 1, Taman Kajang Sentral Kajang, 43000 Selangor. Phone: (606) 8739 7618 Fax: (606) 8733 7543 Website: www.sentralresidenceskajang.com
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34 | FEATURED PROPERTY | THE PARK @ BUKIT SERDANG
A life well-lived at
The Park @ Bukit Serdang
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02 The company that one keeps is often used as a gauge to measure standards. In the case of The Park @ Bukit Serdang (The Park), it is clearly visible that it is indeed in good company. Surrounded by luxury condominiums such as Villa Park and Sanderson, The Park fits seamlessly into an environment of prestige. Spread across 5.2 acres, The Park is a freehold development encompassing 32 units of semi-detached homes and 15 town villas. It is in close proximity to a host of mature townships and other key developments in the area, such as South City Plaza, The Mines Resort City and the renowned Palace of the Golden Horses. As such, residents will not need to venture far, to live a convenient lifestyle.
01 Modern faรงade design 02 Linear park
36 | FEATURED PROPERTY | THE PARK @ BUKIT SERDANG
Great accessibility and security The Park is located just off the Bukit Jalil Highway and KL-Seremban Highway, which ensures excellent accessibility to and from the Klang Valley and Greater Klang Valley. Residents will live within a tranquil gated and guarded environment that will also have 24-hour security. Tipped to be one of the most coveted residences in Serdang, The Park features homes with spacious interiors and stylish exterior. There are 3 types of semidetached homes and town villas respectively; the built-up for semi-detached homes are 4,520 sq ft, 4,717 sq ft and 5,008 sq ft, while the town villas are 1,164 sq ft to 1,493 sq ft. Residents will also have exclusive access to the beautiful clubhouse that houses a swimming pool and gymnasium – all set within a serene landscape and peaceful surrounding. The Park @ Bukit Serdang will be launched at the mid 2012. Interested parties may call the developer, Nurani Gemilang Sdn Bhd, at (603) 4022 5168 / (6016) 213 2163, email general @ binastra.com.my or visit www.binastra.com.my.
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Double volume living area Resident’s clubhouse View to town villa Master bedroom
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Keeping a keen eye on quality finishing Nurani Gemilang Sdn Bhd is a subsidiary of the Binastra Group of Companies. Over the years, the group has successfully completed quality houses, apartments, condominiums, commercial premises and industrial space all across the nation. Among the group’s latest projects are 3-storey semi-detached factory in USJ Subang and Bukit Jelutong at Shah Alam, high end residential development in Kemensah, Green Terrain condominium in Cheras and commercial developments in Bukit Serdang.
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iProject Listing QuickPro No: NC2283 Project Name: The Park @ Bukit Serdang City: Selangor Property Type: Semi-detached House Tenure: Freehold Land Area: 40’ X 80’ Build Up: 4,520 sq ft - 5,008 sq ft (Semi-D) 1,164 sq ft to 1,493 sq ft (Town Villa) Completion Date: Mid 2014 (Expected) Developer: Nurani Gemilang Sdn Bhd (653966-W) (subsidiary of Binastra Group) No. 1 & 3, Jalan Jalil Jaya 3 Jalil Link, Bukit Jalil 57000 Kuala Lumpur. Phone: (603) 8998 7666 Fax: (603) 8998 7667 Website: www.binastra.com.my Exclusive Marketing Agent: Twin Realty Phone: (603) 4022 5168 H/P: (6016) 213 2163 Visit iProperty.com.my for more details
38 | FEATURED PROPERTY | YOU ONE @ SUBANG USJ
YOU ONE @ Subang USJ Design-Led, People-Oriented
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02 The Impeccable YOU! PJD’s exclusive ‘YOU’ concept is a brand synonymous with a ‘total lifestyle experience’. Its blueprint is the identification and integration of 5 pillars; connectivity, living, value, design and leisure – offering buyers and investors a holistic approach in property development. Colouring YOU-r Life YOU ONE @ Subang USJ is testament to the ‘YOU’ brand concept and is conceptualized to bring the arts to life. Masterly planned with well designed living spaces for residences and commerce, the mixed development is integrated with stylishly designed apartments and SoHo units, art-focused gallery and upscale facilities in one modern hub. Special effort will be implemented to create a colourful “ARTSY” ambience for the RESIDENZ (visual art) & SOHO (literary art); such as artistic
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Overall façade Infinity pool Sky garden Sky lounge
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40 | FEATURED PROPERTY | YOU ONE @ SUBANG USJ paintings to decorate the entrance or lobby levels of the residential blocks and vibrant murals that feature quotes of famous literary personalities at the SoHo premise.
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The commercial component known as Broadway is designed to imbue an artsy ambience at the YOU ONE Residences. It comprises trendy lifestyle shops that take full advantage of its architectural design and landscape for a panorama of art-accentuated activities – a gallery centre with a learned culture for inspiration and pursuit of personal expression. Also, there are F&B outlets serving up a feast of culinary delights in a delightful and soothing atmosphere.
Sky gym Cantilever shelter @ pool deck Alfresco dining Green deck
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YOU ONE @ Subang USJ will be the only one of its kind in the Klang Valley with a dedicated arts-theme that enhances a learning culture as well as provides an enriching experience for the community and visitors to the classy development of modern residences and chic retail shops. Great for living, great for business – YOU ONE @ Subang USJ is set to attract a constant crowd and elevate property values in the prime location of Subang USJ that will be served with proposed MRT stations and comprehensive connectivity. Discovering YOU-r Culture & Convenience YOU ONE Residences offers a range of layouts and unit types that are targeted at different market groups. The contemporary designed family suites units consist of 3+1 bedroom (1,300 sf) and 4+1 bedroom duplex (2,600 sf) units for families to enjoy. The stylish, multi-purpose SoHo units come in 1 bedroom (650 sf), 2 bedroom
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(650 sf) and Loft (1,300 sf) types, enabling ‘live-work’ functions that are both practical and flexible.
resource-efficient models of construction, operations, maintenance and management.
There is a host of private condo facilities at YOU ONE which includes swimming pool, wading cum play pool, reflexology path, outdoor gym, BBQ corner, spa pool, multi-purpose court, squash court and sauna. The Lifestyle Level on the other hand, plays host to exclusive amenities that are solely for residents’ enjoyment. Among them include the ‘sky gym’, ‘sky lounge’, ‘sky bar’ and infinity pool for luxurious leisurely pursuits.
Strategically located at the top spot in Subang USJ, YOU ONE @ Subang USJ is set to benefit from the upcoming MRT station that will be within walking distance. The MRT line, once completed, will offer residents easy and convenient travels to the heart of Kuala Lumpur and other popular ‘Greater KL’ hotspots. Renowned for its wide-ranging amenities and MRT-LRT convenience, YOU ONE at Subang USJ is poised for great property appreciation and growth in a dynamic location.
YOU ONE @ Subang USJ will be Green Building Index (GBI) compliant – a “green building” that offers savings in utility costs, healthier living, utilizing more
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To experience YOU ONE @ Subang USJ, please log on to www.pjdprop.com.my/youone or call (603) 5891 6866.
iProject Listing QuickPro No: NC2445 Project Name: You One @ Subang USJ City: USJ, Selangor Property Type: Serviced Residence Land Title: Commercial Tenure: Freehold Land Area: 2.9 acres Build Up: 650 sqft - 2,600 sq ft Total Units/Lots: 480 Bumi Discount: 10% Completion Date: 2nd Quarter of 2015 (Expected) Developer: PJD Landmarks Sdn Bhd (a wholly-owned subsidiary of PJD Group) Lot No.S00-06 & S00-07 Ground Floor, Impian Meridian Commerz Shop Jalan Subang 1, USJ 1,Subang Jaya, 47600 Selangor. Phone: (603) 5891 6866 Fax: (603) 5891 6863 Website: www.pjdprop.com.my/youone
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42 | FEATURED PROPERTY | SOFO AT 3ELEMENTS
So Flexible! SOFO at 3elements What’s in a name? Well, plenty especially when you’re talking about SOFO at 3elements. SOFO is the acronym for Small Office Flexible Office, which encapsulates the key features of this brand new development.
SOFO creates a refreshing, 21st century business lifestyle concept that will have entrepreneurs moving effortlessly between their work and leisure. It is the ultimate gateway to a dazzling new way of combining the best of both worlds: the easy convenience of an urban lifestyle and the invigorating, expanding world of modern commerce. Space to Grow SOFO will be located in 3elements in Puchong South. It is an innovative mixed development designed around three key components that embody the live-work-play concept favoured by today’s urban dweller. It will encompass serviced apartments, office suites and retail or shop offices in one sprawling, progressive boutique city. This revolutionary commercial and residential zone sits on 6.03 acres of prime leasehold land in Puchong South. There are a total of 800 SOFO office units available for purchase as either single or duplex office spaces. Prospective buyers can choose from a variety of 7 designs for the single office space and 8 designs for the duplex offices with high ceilings of up to 18 feet in height. These properties have a built-up size that ranges between 504 to 1,131 sq ft with an unbeatable price range of just RM255,950 to RM367,307. The Gross Development Value for the entire development is RM400 million, which gives investors a good value proposal. SOFO will be launched in March 2012 while the expected completion date is 3 years from the Sale and Purchase Agreement (SPA) date.
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02 Amazing Access & Ample Amenities Situated right in the heart of 3elements, SOFO is set to be one of the most centralized office spaces in the Klang Valley and those lucky enough to work there will be able to use multiple major highways to and from almost every other area of the Klang Valley. There are currently seven highways that create an incredible network of connectivity, namely, the Lebuhraya Damansara-Puchong (LDP), Shah Alam Expressway (KESAS), North-South Central Link, Bukit Jalil Highway, and the Cyberjaya & Putrajaya Highway, KL-Putrajaya Highway (MEX) and the upcoming Serdang-Kinrara-Putrajaya Expressway (SKIP). Traveling distances to landmark destinations: IOI Mall, Puchong or Cyberjaya (15 mins), Old Klang Road (20 mins), KLIA, Putrajaya or Bukit Jalil (25 mins), and Sunway, Subang Jaya or Kuala Lumpur (30 mins). There’s more good news. If SOFO is your office address, you’ll have a wealth of conveniences located just a lift ride away. 3elements offers a plethora of
03 F&B outlets, showrooms, retail outlets, entertainment & leisure centres, finance and banking institutions as well as healthcare and spas located on the ground floor. Besides that, SOFO at 3elements is just 500 metres away from AEON Jusco, Giant Hypermarket, Pasar Borong Selangor, KFC, both Shell and Petronas petrol stations as well as an international school nearby. Green & Healthy Living SOFO offices are undoubtedly the fusion of the very best characteristics of an ultra modern workspace. These offices feature spacious open plans, chic, contemporary interiors, 3 dedicated lifts, ample basement parking spaces for tenants, full-height windows and exclusive in-building amenities. Other fantastic features include lobbies with high ceilings of up to 18 feet in height, a swimming pool, a gymnasium and a business centre, to meld both work and lifestyle seamlessly. In line with the Green Building Index (GBI) being achieved, SOFO at 3elements brings together
iProperty.com malaysia | 45 Special Promotions by a Dependable Developer Buyers have plenty to look forward to when it comes to promotions. The developer is offering a generous 7% discount for Bumiputeras while early birds stand to gain from the discount promotion for them. The developer is throwing in free SPA and legal fees for the loan, a free car park, 2 free air conditioners and even a free pantry.
04 elemental needs and a healthy green lifestyle in and through the innovative rainwater harvesting system. Other facilities include fibre optic backbone system for high-speed Internet broadband and High Definition (HD) Satellite Master Antenna Television (SMATV). Additionally, SOFO tenants will also have peace of mind knowing they are protected by the building’s fortified security system, which features multiplelayered security systems and 24-hour security via CCTV.
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Titijaya Group, the developer behind the SOFO project, is a respected property developer with a proven track record as it is highly regarded for its innovative, resourceful and reputable projects. The group is responsible for many successful, awardwinning property developments such as Subang SoHo and Subang Parkhomes in SS19 Subang Jaya, as well as First Subang in SS15. Other notable developments in Klang are The Galleria Lifestyle Streetmall at Klang Sentral and Zone Industrial Park at Sungai Kapar Indah. For more information on the development, prospective buyers may reach the developer at (6019) 769 6191 or (6019) 729 6191.
01 Modern, sleek faÇade design set against the picturesque skyline of KL city centre 02 The functional mezzanine floor for Duplex units 03 The 18’ high double volume feature for Duplex units 04 Ingenious layout design for sheer spaciousness
iProject Listing QuickPro No: NC2378 Project Name: SOFO 3elements City: Puchong, Selangor Property Type: SOFO Land Title: Commercial Tenure: Leasehold Land Area: 6.03 acres Listing Price: From RM255,950 - RM367,307 Total Units/Lots: 800 Bumi Discount: 7% Completion Date: 3 Years from SPA (Expected) Developer: Safetags Solution Sdn Bhd (755016-A) N-16-01, Penthouse Level 16 First Subang Jalan SS15/4G, Subang Jaya 47500 Selangor Phone: (603) 8022 9999 Fax: (603) 8022 9988
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46 | LUXURY COLLECTION | KINGSLEY HILLS
Kingsley
Hills The Splendour of Elevated Living
Tucked away amidst the picturesque hills of Bukit Cermin in Putra Heights is a splendid new development called Kingsley Hills – a 96-acre mixed development consisting of bungalows, semi-detached homes, three exclusive high-rise luxury condominium phases and a uniquely-designed townhouse.
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Developed against a backdrop of lush greenery and a natural rainforest, Kingsley Hills exudes a serene and peaceful ambience well-suited for a balanced lifestyle of work and leisure. Kingsley Hills’ pride is its unobstructed mile-high panoramic view of the surrounding lush greenery and the neighbouring townships.
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Regal Pride of Place The freehold development encompasses a total of five phases of landed residential units, Avenue 1, 2 and 3 and the Condo Villa with Phase 1 - 3 all semi-detached homes available for purchase. Among one of the exquisite features of the development is a total of 28 exclusive layout designs of semi-detached homes measuring approximately 3,818 sq ft to 6,789 sq ft built on a lot size of 4,050 sq ft and above – a grand luxury of space befitting quality living standards promoted by the development. The homes are equipped with quality finishing, fixtures and architecture that speak of contemporary design with the all-important touch of practicality. Each home boasts of attractive features that include a solar water heating system, water booster pump, rainwater harvesting system, high-speed broadband access and private home lift. Safety and security takes the foremost place as a 24-hour security surveillance system which includes secure perimeter fencing with CCTV coverage as well as 2 security guardhouses manned by trained security personnel is in place. The development also features a private club and linear park with a wide range of facilities – extending a resort-like feel to Kingsley Hills. Majestically Located For Maximum Comfort A self-sustaining township of Kingsley Hills which is tipped to include Kingsley Hills International School, Kingsley Private Club and a linear park which boosts the quality of life within this neighbourhood offers Phase 1, Phase 2 and Phase 3 which comprises of 52 units, 54 units and 44 units of semi-detached homes respectively.
03 01 The splendour of elevated living 02 SH05a & SH05b 03 SL05a & SL05b
48 | LUXURY COLLECTION | KINGSLEY HILLS
04 Located in the growing township of Putra Heights, Kingsley Hills enjoys easy accessibility to major amenities which are located within a 12-km radius from the development in the township of Subang Jaya. These include five hypermarkets, five shopping centres, bustling commercial hubs in the form of Taipan USJ and SS15, reputable medical centres as well as renowned tertiary education institutions that include Segi College, Metropolitan College, Inti College, Taylors College, Sunway College and Monash University.
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Meanwhile, Putra Heights’ Giant Supermarket is a popular and convenient option for residents shopping for daily needs in the area. Kingsley Hills’ close proximity to One City is another feather in the cap for the much sought-after development. Local and international schools in the vicinity of Kingsley Hills include the upcoming Kingsley International School, SK Alam Megah 2, SK Alam Megah 3, SK Taman Alam Megah, SMK Alam Megah and the upcoming SJKC Tun Tan Siew Sin. The freehold development enjoys easy accessibility via major road networks such as the Elite Highway, the Damansara-Puchong Highway (LDP) and the Shah Alam Highway (KESAS), making Kingsley Hills a well-connected enclave to neighbouring townships and Kuala Lumpur city centre via these expressways. A Host of Premium Privileges Launched in November 2011, the semi-detached homes is due for completion in 2015 or three years from the SPA. To encourage a healthy appetite amongst discerning buyers, the SPA, Loan Documentation & MOT’s Legal Fees and Disbursement Charges are to be borne by the Developer. Buyers will enjoy an interest free period during construction. Homes in Kingsley
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06 Hills are being offered at an attractive price tag of RM1,950,000 onwards. The developer is also offering buyers a fantastic one-time offer of free membership to the Kingsley Private Club, a lifestyle paragon like no other of its class. Kingsley Hills is brought to you by Kingsley Hills Sdn Bhd, part of the MCT 1999 Group. Experience Kingsley Hills on www.kingsleyhills.com or call (603) 8023 6868 for further details.
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Mile high panoramic view SL06a & SL06b Kingsley Hills main entrance The project site
KINGSLEY HILLS Where on the Map: Putra Heights, Subang Jay a, Selangor Concept: Mixed developments of bun galows, semi-detached homes, exc lusive highrise luxury condominium pha ses and townhouse on a 96-acre lan d Offered Built-ups: 3,818 - 6,789 sq ft
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50 | FEATURED PROPERTY | SENAI GARDEN
The Senai Garden The Essence of Urban Tranquility Perfectly embodying the finest in contemporary living, The Senai Garden is a collection of the premium serviced apartments for the modern urban dweller. This prestigious new development features 5 apartment blocks with 8 to 10 floors each. The Senai Garden is situated on 8 acres of freehold land in the Senai township, which is within the fast-growing Iskandar Malaysia region.
01 Embrace the serenity of the lush green surroundings and scenic views for absolute relaxation. The apartments range between 706 sq ft to 4,293 sq ft with prices ranging from RM210,000 to RM1.5 million. All units are adorned with quality fittings and finishes while the functional and spacious layouts guarantee comfort. A total of 392 units are available and are estimated to be completed by the middle of 2015. Excellent Facilities The Senai Garden offers comprehensive facilities that cater to your needs. Relax with a dip in the swimming pool or a rejuvenating session at the Sauna. Some may like to sweat it out at the gym or by playing minigolf or tennis. There is also a lounge, BBQ park and jogging track to be enjoyed. Pursue your leisure needs further at the Jacuzzi, Reflexology Zen Garden, Mini-
Theatre and KTV Room. There’s even a Kid’s Pool and Children’s Wet Playground. Security measures include a 3-tier security system, 24-hour Guardhouse and CCTV surveillance. Each unit is also equipped with an intercom system – linked from individual unit to the guard house. A Winning Location The Senai Garden is strategically located within Iskandar Malaysia. Enjoy the convenience of essential developments that include Kota Iskandar (Johor State New Administrative Centre), Puteri Harbour Waterfront Development, EduCity, Afiat Healthpark, Columbia Asia Hospital, International Destination Resort and the soon operational Legoland theme park. The renowned Johor Premium Outlets is only 8 minutes away.
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02 Enjoy excellent accessibility via major highways and prominent roads including the Senai Highway and airport road while the North-South Highway is only 3 minutes away. It only takes approximately 20 minutes to the Second Link Interchange to Singapore which is great news for professionals working in Singapore but residing in Johor Bahru. Enjoy further convenience with the Senai International Airport being just 5 minutes from your home. Moreover, the city centre and Woodlands CIQ is a mere 25 minutes away. Be sure to be part of this highly accessible location with exceptional surrounding amenities. Reputable Developer KCC Development is an ISO 9001:2008 certified housing developer based in Muar, Johor. For almost 30 years, KCC has upheld the belief of customer priority and quality control, winning wide recognition through various awards. They have
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successfully developed many property projects over the region - completing every project and property handover on time while never disappointing customers. In order to provide more convenience to purchasers, as well as improve our efficiency and service quality, we have set up the “QuickLink� Customer Service Hotline at (606) 953 3399. This enables you to reach us directly with queries about our products. This hotline also allows for feedback and suggestions as our Customer Service Officers will try their utmost best to serve your every need. In addition to this, we have extended our defect liability period from 24 months to 36 months. The company has property development projects all over Southern Malaysia, and will continue to expand northwards, including Johor, Malacca, Negeri Sembilan and Kuala Lumpur among many other places. For further information, please visit the official website at www.kccdev.com.my
iProject Listing QuickPro No: NC2420 Project Name: The Senai Garden @ Taman Impian Senai City: Senai, Johor Property Type: Serviced Residence Land Title: Commercial Tenure: Freehold Build Up: 706 - 4,293 sq ft Listing Price: From RM210,000 - RM1,500,000 Total Units/Lots: 392 Completion Date: Middle of 2015 (Expected) Developer: KCC Development Sdn Bhd 93, Jalan Hashim, Muar, 84000 Johor. Phone: (606) 953 3399 / (606) 953 8953 / (606) 953 8952 Fax: (606) 952 9557 Website: www.kccdev.com.my
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52 | FEATURED PROPERTY | UDA Heights
UDA Heights New Heights in Living In the established neighbourhood of Bandar UDA Utama, a fresh twist to private and exclusive living is being launched on a plot of land earmarked and designed to co-exist with the rest of this bustling Johor Bahru township. Dubbed UDA Heights, this enclave of 28 bungalow units are mini villas catering to the tastes of home owners looking for a space to call their own in an exclusive and luxurious setting amidst the bustle of urban life. Each unit is set in its own layout that resonates with the overall landscaping for a close-knit community of bungalows that are within the established development project area of Bandar UDA Utama.
Modern Contemporary Design The modern design applied to these freehold bungalows come in three fa ades with the largest, Baguette Villa with 14 units, having a built-up of 4,204 sq ft and a 7+1 bedrooms and 8 bathrooms configuration. The two other types are the Victorian Villa and the Marquise Villa with built-ups of 3,856 sq ft and 3,812 sq ft respectively. There are seven units for both types are priced from RM 1.93 million onwards. Standing on a 7.64-acre plot, UDA Heights is valued at RM55 million upon completion and is part of the mature neighbourhood of Bandar UDA Utama’s Phase 1B. All the bungalows are sited on 80’ X 100’ individual plots with corner and end-unit bungalows coming with swimming pool enclosed for Baguette Villa. As you stand looking from any angle at the length and breadth of this liveable and indeed loveable space, you will appreciate how the lines between the interiors and exterior meld together. Delightfully, the outside view interacts with the transitional features that lead your line of sight into the cool interior. That
01 is the effect that one gets from The Introvet (private garden) feature that interplays with the design of the bungalows to create a living and soothing environment while connecting with rest of the overall designed landscape, which stitches together the 28 units of this exclusive community. A special water feature and a pocket garden at the entrance of Marquise Villa creates a welcoming and inviting feeling that allows the residents tranquility and peace of mind. While the neighbours are never far away, the clever positioning of walls interspersed with a generous expanse of glass windows and sun wells mean that you enjoy the view of your private garden around the compound from within your own domain, as if you are far removed from the rest of the world. Conveniences and Amenities Within Reach UDA Heights is within the vicinity of the 14-acre Bandar UDA Utama recreation park and is adjacent to the Second Link to Singapore as well as the North-
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Victorian Villa Baguette Villa Indulge your loved ones World of tranquility
South Highway interchange. Just a few minutes’ drive from UDA Heights will take you to many of the shopping facilities in the area such as Jaya Jusco, Tesco, Giant, Carrefour, Perling Mall and Best Mart.
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Education is also convenient as the Bandar UDA Utama secondary school, will open its doors to students next year. This new secondary school is within minutes to drive to from UDA Heights while a 5-minute drive will take you to the gates of the Kuo Kuang 2 primary Chinese school and the Omega International School. Exclusive Promotions from a Prominent Developer UDA Heights’ expected completion date is in June 2014. As a special promotion for buyers of these exclusive bungalows, legal fees and stamp duty for the transfer of ownership will be absorbed by the developer’s panel lawyers only. UDA Land (South) Sdn Bhd is a wholly-owned subsidiary of UDA Holdings Berhad, which launched its first development project, Bandar Baru UDA on 17 July 1976 in Johor Bahru. UDA Land is also developing Tampoi Urban Centre (Pusat Bandar Tampoi) and Bandar UDA Utama in which UDA Heights will be located. Right beside Tampoi Urban Centre is the 31-acre emerging township of Skudai Kanan which will include the UDA Business Centre,
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a commercial project that consists of 2-, 3-, and 4-storey shop offices. Not to mention, an upcoming luxurious condominium, a block of office tower and more 3- and 4-storey shop offices. The prominent shopping complex called Plaza Angsana is also an UDA Land project strategically located in the 298-acre Tampoi Urban Centre township, an upcoming development project in Tampoi, Johor Bahru featuring 2 blocks of office towers, a shopping complex, 2 international-standard hotels, upmarket residence featuring condominiums with sophisticated recreational facilities to complement.
iProject Listing Project Name: UDA Heights, Urban Villa City: Bandar UDA Utama, Johor Bahru Property Type: Double Storey Bungalow Land Title: Residential Tenure: Freehold Build Up: 3,812 – 4,204 sq ft Listing Price: RM 1.93 – RM 2.44 million Bumi Discount: 15% Total Units/Lots: 28 units Completion Date: June 2014 (Expected) Developer: UDA Land (South) Sdn Bhd Wisma SBBU, No 1, Jalan Padi Mahsuri 12, Bandar Baru UDA, 81200 Johor Bahru. Phone: (607) 237 4944 Fax: (607) 237 4943 Website: www.uda.com.my
Visit iProperty.com.my for more details
58 | TALK POINT | MAH SING
Mah Sing On Property Market Performance In the blink of an eye, we are already at the end of the second quarter of 2012. We sit down with Mah Sing Group Berhad’s Managing Director cum Group Chief Executive, Tan Sri Dato’ Sri Leong Hoy Kum, to keep abreast of Mah Sing Group’s latest developments amidst them gearing up for the 1Q 2012 results release at press time. iProperty: It is reported that you plan to acquire RM5 billion worth of land bank. What has been bought and how much is left to buy? Tan Sri Dato’ Sri Leong Hoy Kum (Mah Sing Group Berhad): In 2012 the Group has targeted land acquisitions with a RM5 billion in Gross Development Value (GDV) potential yield. This may be attained through joint ventures with other land owners and participation in Government land privatization. As at
Project
M Residence 2, Rawang
Acquisition
Land size (acre)
Expected GDV
February
157
650
01
May 2012, we have already achieved 73% of the year’s land banking target. The Group’s remaining undeveloped land bank of 1,638 acres is expected to yield approximately RM 18.24 billion in GDV and unbilled sales. As 98% of these land banks are still in the growth and planning stages of their life cycle, we should be busy for another five to seven years.
Comments
Leveraging on M Residence’ success just 1km away, M Residence 2 will capture spillover demand with its mainly semi-detached homes, and shops. With the awareness created via M Residence@Rawang, the captive market makes a good buyer base. Like M Residence, M Residence 2 will benefit from its proximity to the matured townships of Anggun 1 & 2@Kota Emerald as well as Emerald East and West with a newly minted Aeon Jusco in Rawang. A major road upgrade to turn the road from the Rawang toll into a dual carriageway is in progress, and will further improve traffic flow along this road.
Sutera Avenue, Kota Kinabalu
March
8.7
830
Sutera Avenue occupies one of the most prominent CBD sites in Kota Kinabalu. Located diagonally opposite the 5-star Sutera Harbour Resort and KK Times Square, it is fronted by the Coastal Highway. Other landmarks nearby include the Sabah UMNO building, Ming Garden Hotel and Asia City. This project will be the southern entry point to Kota Kinabalu’s CBD from the Kota Kinabalu International Airport just 3.9km away. It fits well into the company’s quick turnaround strategy. We can launch the project quickly as the location is matured and infrastructure is ready. Registration of interest has commenced with the first launch of the shops targeted by 3rd quarter 2012.
Southville City, Bandar Baru Bangi
May
412
2,150
Southville City along the North South Highway, is just 3.2km from UKM (University Kebangsaan Malaysia) and 2.6km from the Sony plant. Our new interchange 2.5km from the existing Bangi interchange provides direct access. Upon completion, the project will house 17,500 people in a seamless, holistic lifestyle for different family sizes. The first phase of this gated and guarded project comprise of doublestorey link homes with later phases for upgraders via linked semi-d, semi-d and bungalows. Close to 70% of the residential component is priced below RM1 million to meet the strong market demand for bread and butter properties. Approximately 30% of the township will comprise commercial components and its 2km prime frontage along both sides of the Highway, provides branding opportunities for the project.
iProperty.com malaysia | 59 01 Tan Sri Dato’ Sri Leong Hoy Kum 02 Icon City
02
Building in Borneo iP: With Sabah’s growth projections well above the Klang Valley this year, what is Mah Sing’s presence and plans in Borneo? MSB: We have commenced registration of interest for our Sutera Avenue project in Kota Kinabalu’s CBD, and the first phase of shops will be launched in the third quarter. These multi-storey shop offices will front the Coastal Highway and will be complemented by street mall retail lots and serviced apartments spread out through 4.26 acres. These shop offices with generous lot sizes will incorporate a brand new unique concept inspired by Mah Sing’s 30 Jewels and Gourmet Street shops in the flagship Icon City Petaling Jaya. The units are designed for F&B and a street mall retail concept, in synergy with the shop-offices, to create a vibrant retail buzz with alfresco opportunities. iP: Will it be a unique challenge for Mah Sing in crossing over to Borneo? MSB: I think it will be putting our property development experience and knowledge in Peninsula Malaysia to good use in Sabah as an established developer of 39 projects in Greater KL, Penang island, Johor Bahru and even Sabah currently. We do have a wealth of know-how and a broad base of good consultants, both local and international, that help add value to the projects we build. Leveraging on our experience and expertise in bringing together good architecture, new lifestyle concepts and designs that make property management easier all create value for the property. Besides crafting a building fa ade that is aesthetically pleasing and easily identifiable (making it a new landmark), a lot of thought will be given
to the property’s layout design. This drives strong pedestrian traffic that is crucial for retailers, making it easier to manage the property and is instrumental in ensuring the property retains and increases in value. Property Market Projections & Performance iP: As we are almost at the end of May, what is your financial outlook for 2H 2012? MSB: We believe that selected segments of the property market would still be robust this year and next and it is just a matter of fitting supply to demand. Our Sales achievement as at March 30, 2012 of RM676 million already covers almost 27% of 2012’s sales target of RM2.5billion and there will be an update on sales achievement which will be release after your press time, as I have been told. We are optimistic of our strong sales momentum as our products cater to market needs and are located in strategic locations. In light of the current market sentiment and pent-up demand in this segment, close to 70% of our launches will come from bread and butter products which are mainly smaller units of serviced residences or link homes in townships. We also see continued demand for landed residential properties above RM1million in good locations, especially for gated and guarded concepts. Some 30% of our launches are in the RM1 million to RM 3 million range, mainly semi-detached homes or bungalows in matured developments. These are expected to still see good take-up as construction would have commenced for certain parcels, lending stronger confidence to buyers. As for the commercial segment, the smaller SoHo and SoVo properties will continue to be popular thanks to the affordable price points and lack of supply in selected locations especially in integrated developments.
60 | SPECIAL FOCUS
The Condition of Luxury Roundtable
01 01 D' Island Nautilus Living Hall 02 Nautilus, 3-storey superlink homes by LBS 03 Villa Hall of OSK's Mirage By The Lake
With cooling measures imposed by BNM on prudent financial management and the condition of the luxury end of the property market wither stable or flat since 4Q FY2011, we gathered the thoughts of a few developers to delve into the condition and the conditions of being in the luxury end of the property market. Here are their thoughts on how the market segment is doing and what seem to be the rules to this unique ball game. Our panellists are Dato’ Lim Hock San of LBS Bina Group Berhad and a representative from OSK Property Holdings Berhad (OSKP). Both developers have the breadth and experience in developing for the high-end segment and have analysed the trends and developments in this sector. iProperty: What are the projects in your portfolio that would be considered a luxury proposition? How have the take up rates been since 4Q 2011? Dato’ Lim Hock San (LBS): D' Island Residence located in Puchong has been earmarked to be LBS Bina’s flagship luxury development with its unique concept of island living within the city. It is built on 175 acres of land and is surrounded by 1,000 acres of water. The luxury residential development consisting of superlink homes, semidetached homes, bungalows, condominiums and commercial units is an exclusive low density enclave with only 1,035 homes over the 175 acres of land. D' Island Residence has an estimated GDV of RM3.6 billion and is expected to be completed within five to eight years. We have recorded very good take-up rates since its launch in September 2011 and we plan to release our project by the phase. As of today, we have launched three phases which include luxury superlinks and semi-detached homes. They are as follows:
iProperty.com malaysia | 61 • • •
Apicalia, 122 units of 3-storey superlink homes that are totally sold out, Balvia, 28 units of 3-storey semi-detached homes with a 64% take-up rate (18 units sold), and Nautilus, 20 units of 3-storey superlink homes with a 70% take-up rate (14 units sold)
OSKP: Our latest luxury product such as Mirage Residence had more than 60% sold out before launching. The development received good response particularly from the local market as well as the overseas market with purchasers from Japan, China and Singapore. Another luxury project is our award-winning development in Cyberjaya - Mirage By The Lake. The project was launched last year and as of now, more than 70% of the condominiums have been sold. Moving forwards, we will launch our exquisite villas at Mirage By The Lake in June.
03 OSKP: The development of our luxury products - The Mirage series not only help us to enhance the company’s branding and portfolio as a quality developer, it also enables us to cater to different needs of various market segments.The luxury market is in demand even during a down cycle as they target a high income audience who would buy for their own use. KLCC being a prime location experiences stable price ranges of above RM 1,200 psf and able to provide steady rental income and returns. We expect better sale as prospective buyers are waiting for signs of an uptrend before making decisions.
iProperty: What are the pitfalls or advantages in developing for this market segment? How has the market moved since 1H 2012? LBS: One of the advantages of catering to the prestige segment is the better return to our shareholders that allow us to continuously add value while discerning the homebuyers’ lifestyle needs. That said, the homebuyers in this sector tend to be cautious and selective due to the uncertainties in the global economy. Even though many say that this segment has seen a slight softening in the market, the take-up rate of D' Island Residence shows that there is a demand for luxury housing, particularly landed properties. This is seen in the take-up rate of the first quarter of this year.
iProperty: In your mind, what are the contributory factors to the current state of the luxury segment? LBS: Malaysian property prices remain the lowest in the region while the scarcity of landed properties drive market demand. Despite the economic uncertainties, there are still many premium properties launched in the market. This shows that there is always a market demand for the luxury property and it is important for developers to cater to the buyer’s needs. OSKP: The two factors contributing to the challenge of the luxury market is the uncertainty of the world economy situation and the buyers in this circle are more prudent in making decisions due to the many choices available in the market. iProperty: Are there any plans to stimulate this market segment or will you let time take its course?
62 | SPECIAL FOCUS
04 05 06 07
Swimming pool at Mirage By The Lake D' Island Residence by LBS Lake Villas by OSK Mirage Residence
04 LBS: We will continue to offer quality homes to the premium segment by launching a few more phases of D' Island Residence in the upcoming years, including bungalows, semi-detached homes and luxury condominiums. OSKP: For OSKP, we offer one-of-a-kind luxury products with many value added features. Take Mirage By The Lake for example, purchasers will revel in this unique award-winning masterpiece that is inspired by waterfront living. The entire development is laid-out in a unique circular planning that revolves around 3 central lakes, affording prime waterfront access to each home while integrating harmoniously with its picturesque surroundings.
05
Besides, we do have other initiatives such as an easy entry scheme and other attractive packages like Mirage Residence's limited 20 units which come with full furnishing package worth up to RM120,000 each. We are also increasing overseas marketing activities as Malaysian properties are still considered very affordable by foreigners. iProperty: What are the market conditions that would be an indicator that the luxury sector is set to sail once again? LBS: As the global economy is interlinked, stabilization in the Eurozone would lead to a more positive outlook for the entire global economy. Growth in Asian countries, which are accelerating right now is also a key indicator as is higher FDI inflows to Malaysia. In fact, Malaysia’s FDI went up by 12.3% last year to RM32.9billion compared to RM29.3billion in the same period the previous year of 2010. The Government’s various incentives for Malaysian homebuyers (low mortgage interest rates, easy financing, zero lock-in periods, stamp duty exemptions and long repayment periods) along with on-going initiatives such as the Malaysia My 2nd Home (MM2H) programme all help to increase local and foreign property ownership.
06
OSKP: As the luxury segment is targeted to a niche, higher-end market, it is only natural that investors will buy and invest in Malaysia as it is still the most attractive in terms of pricing in the region. We would say that Asia still is the fastest growing economic region in the World and more high net-worth individuals will be found in this region in times to come.
07
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64 | AREA FOCUS | JOHOR
Capturing the Spillover of Johor Bahru After our cross-section update on the Johor Bahru property market in April, we received numerous positive feedback from property buyers and investors interested in the areas surrounding JB City Centre. As a predominant amount of requests showed up on the residential sector, we have decided to take a closer look at how Johor Bahru’s scarcity of residential zones prompt a spillover response from the Senai and Skudai towns.
01
One of the main challenges that Johor Bahru City faces is that a large portion of the area has been dedicated to institutional and governmental interests. The total amount of land bank dedicated for housing is only 13.67% of 1056.55 acres, translating to 144.48 acres of land. Even if mixed developments are taken into account, they would just account for a further 102.45 acres or another 9.7%. With this scarcity of residential land in Johor Bahru City Centre, which is also the Flagship A of Iskandar Malaysia, it is no surprise that any residential development housed just slightly outside the CBD with very good transport and infrastructure links stand to offer a prime value proposition for both residents as well as investors. A Closer Look at Senai-Skudai The Iskandar Malaysia project has not only brought an impetus to growth throughout the southern region, it has brought into sharp focus the various residential areas still available for population of residents that either work within the region or in Singapore. With Johor Bahru City Centre having very small reserves of residential land, it is only natural that the population expansion extends to the north of the city limits, where there are greater reserves of land for developers to locate their projects. The Senai-Skudai towns are identified as Flagship E of Iskandar Malaysia and is synonymous with the Sultan Ismail International Airport or the Senai Airport and Universiti Teknologi Malaysia (UTM). The Senai Airport is poised to be the second largest airport in the region after Changi by 2025 while UTM is the oldest public engineering and technology university in Malaysia. With these two landmarks being the main socio-economic drivers, the entire flagship is also a convenient 30 minutes drive from Johor Bahru. Easing the commute from Johor Bahru City Centre and other highgrowth areas will be the proposed MRT/LRT link.
iProperty.com malaysia | 65 The town of Senai, which is 4km south of Kulai and 4km north of Skudai, provides easy access from the Senai Airport to Tuas via the Expressway E3. Meanwhile, Skudai is part of the new growth corridor of south-west Johor, absorbing the population spillover of Johor Bahru effectively and is known as a rapidly expanding suburb of Johor Bahru. This can be seen in the main thoroughfare of Skudai, namely Jalan Skudai, which was just a two-lane road in the days when UTM started now becoming the main trunk road and backbone from which housing areas like Taman Skudai and Taman Kobena have sprouted up throughout time. Keeping up with a Key Player Among one of the key players in this region is IOI Properties which holds a significant amount of landbank in the Kulai and Kempas areas of this flagship. The latest offering from IOI Properties was unveiled just at the end of May along the Skudai Highway. The Platino Serviced Apartments in Johor Bahru had more than 1,500 people making their way to the Sales Gallery for the preview and is developed by one of IOI Properties’ subsidiaries, Trilink Pyramid Sdn Bhd. With a strategic location along the Skudai Highway, locals have earmarked the 5.38acre freehold property as one with ease of access to Singapore via the Skudai Highway itself, with direct
03 access to the Second Link Expressway, the Pasir Gudang Highway and the North South Highway. On top of the four types of 1- to 4-bedroom units that come with a build-up from 517 sq ft to 1,464 sq ft housed in two 29-storey towers, there will be a 5-storey shop office podium that promises the integrated lifestyle of Johor Bahru City for residents of The Platino. The latest launch by IOI Properties highlights the fast urbanizing forces at work within suburbs surrounding Johor Bahru with high-speed internet connectivity and a whole host of intelligent home features reflecting the shift towards more sophisticated residential offerings.
01 The Senai-Skudai area compared to the Cyber Cities of Nusajaya and Johor Bahru CBD 02 The Platino by IOI Properties just unveiled in the last weekend of May 2012 03 Horizon Hills in Nusajaya forms another residential sink
02
66 | AREA FOCUS | PENANG
Roadtrip:
The Banjaran Hotsprings Retreat
This month we got all our gear out and headed to a world-class destination which had just won the Best Sustainable Hotel (Five-Star for Malaysia and Winner for Asia Pacific) in the International Hotel Awards, 2012-2013. The Banjaran also won the FIABCI Prix d’Excellence 2012 for the Resort Development Category. Here’s our travelogue on the overnight roadtrip.
01
iProperty.com malaysia | 67 Day One Nestled amidst 17 acres of lush tropical jungle is The Banjaran Hotsprings Retreat with natural geothermal hot springs surrounded by 280 million-year-old limestone outcrop. The Retreat houses 25 luxury villas and a wellness village that emphasizes holistic healing and wellness principles for complete wellbeing and rejuvenation. When we descended on the retreat, we were in dire need for pampering and relaxation and were immediately ushered to our very own private Garden Villas which was luxuriously finished and presented in a layout of 2,000 sq ft and above. After changing into spa gear, we decamped to the spa where our first private consultation with Stephanie Semonin, a Fascial Therapist from France explained in detail the concept behind the spa and its wellness treatments. The fascia refers to the tissues and membranes that construct the matter of a person and treatment to this level is able to promote health and wellness through combined sensory experiences of spa treatments.
After our personal consultation, massage and anti-oxidant spa session, we headed for a dip at the hot spring’s hot pods, bringing the total relaxation of our muscles to a fitting climax. We headed back for a refreshing plunge in the pool before cleaning up for dinner. We met outside The Pomelo Restaurant for a quick walkabout The Banjaran, where we discovered the cosier Water Villas which had built-ups of 1,800 sq ft to 2,000 sq ft in comparison with the Spa Village Villas which were the largest Villas in the whole Retreat. All Villas came with a plunge pool and their own geothermal Jacuzzi in addition to their own lounge and rooms. After taking our fill of the Villas we proceeded to the meditation cave where a stunning waterfall greeted us at the entrance of the cave. Feeling somewhat like Indiana Jones, we went in to discover the yoga decks that awaited us, promising even yoga newbies a compelling reason for meditation to clear the stresses of daily living.
02 01 The morning mists meet the hot springs' steam 02 The cosy ambience of the Water Villas 03 Fascia Theraphy for complete wellness
03
68 | AREA FOCUS | PENANG Making tracks back to The Pomelo, we found The Banjaran’s team of advisors on sustainability waiting for us. Professor Dr. Bernard J. Pierson, a geologist and professor at Universiti Teknologi Petronas (UTP), Professor Dr. Manuel Pubellier, Dean of Faculty of Geosciences and Petroleum Engineering and his wife Cindy Pubellier, the Senior Advisor on Environment and Sustainable Development were all ready to brief us on their roles in advising The Banjaran on their plan and Roadmap to ensure Sustainability efforts continued. Over the course of dinner, we discussed how the limestone outcrops that surrounded The Banjaran’s hot springs were unique in formation with only two other spots in the world having the same karst structures, Halong Bay in Vietnam and Guilin in China. Protection of these outcrops from damage and depletion had tremendous benefits to both the environment and its surrounding communities that was measured by the Payment for Environmental Services (PES) impact analysis on human activity on these limestone outcrops.
04
The Banjaran’s role in preservation was not only a passive one in terms of prevention from further depletion but a pro-active one in terms of promoting regeneration of endemic species that were lost through human activity in limestone-blasting projects around the Kinta Valley. Among them include a corridor of 30-50 metres of untouched jungle walk and a nursery to cultivate endemic species to re-introduce them to the wild where it has been depleted.
05
iProperty.com malaysia | 69
06 07
There is also a roadmap in place to outline the payback in terms of time versus the cost of running The Banjaran. This aims to put The Banjaran en route to being a totally sustainable resort within 10-20 years time after it has began its lifecycle as a development. Among the initiatives include creating energy and waste management processes in addition to the sustainable forest management practices. After dinner, we adjourned to Jeff’s Cellar, another award-winning feature within The Banjaran famed for its collection of fine wines, liquors and spirits. Day Two As our day of departure dawned, I went out to the yoga deck to capture early morning shots of the place that I had wished I could call home. Along the way, I saw that the warm pool already had fans of languid swimming and carefree sunbathing arranging themselves by the poolside. After my brief morning walk, The Pomelo’s delicious serving of a hearty breakfast was all that I needed to face the day. Checking out made me wonder if I would ever come back to The Banjaran again. After all, it is not every day that you get to relax and rejuvenate in a place that promotes complete health and wellness as well as sustainable practices.
04 05 06 07
Private geothermal jacuzzis in every villa Meditation in the Meditation Cave Enter into bliss at The Banjaran Spa cuisine for complete health at The Banjaran
70 | JOEY YAP
Property Developers & Feng Shui It is a fact well-known that most people associate feng shui with homes as many come to appreciate the positive impacts of feng shui to the lives of its practitioners. Among some of the benefits include prosperity, well-being and overall success in life. This time, Joey Yap unearths the reason why environology is so common among developers.
While feng shui benefits have immensely contributed to homes and office spaces, the application of feng shui in significantly large property developments may have escaped our notice. Recent reports have also shown that there have been an increasing number of property developers turning to Environology, otherwise known as feng shui or Geomancy. This is because developers strategise urban planning in tandem with feng shui values in an effort to build better homes and offices and produce a win-win situation for them and the buyers. This also goes to show that property developers see a boost of feng shui into their project development as a support to accrue higher revenues. Using feng shui Everywhere Aside from using feng shui as a decision-making tool for their potential clients to evaluate the environment, feng shui also bridges the gap of interpersonal and human relationships, optimising the chance to achieve overall harmony. Property developers also believe that applying feng shui ideals during construction promotes the compatibility of an individual’s specific goals with the direction they would like the space to reflect.
iProperty.com malaysia | 71
It is an understandable business strategy for property developers to set a certain target market for their projects. Even with high-networth individuals as a target market, property developers like to adapt the right feng shui concept in accordance to achieving their target goals. This is complimentary to their aim of magnifying their chances of success by creating a more dynamic, productive and profitable real estate development with the use of feng shui. Besides, the majority of property buyers these days consider feng shui an essential factor in determining their final decision to purchasing a certain property. Therefore, developers take into account the paramount motivator of injecting feng shui ideals into the development of a project that meets the approval of the consumers’ needs. After all, the success – and downfalls – of their projects truly reflect their portfolio, which will be the reference point that could resonate throughout the developers’ entire corporate profile. Portfolio Enhancement Speaking of portfolio, property developers also use feng shui as their brand’s enhancement tool to upgrade their products and services, through the quality of their development projects. It is valid of them to do so as feng shui has been known to influence the maximising of
business prospects, cultivating personal and business relationships as well as growing wealth for over 5,000 years! Despite increasing their potential to create a successful development using feng shui’s tricks of the trade, common real estate design’s pitfalls leading to difficulty in sales, management problems, vacancies, maintenance issues or accidents on the construction site could also be hindered. It is this aspect that has the most potential to harness powerful benefits. Through feng shui, property developers get to increase their pre-sales, becoming more aware of any “bad luck” energy that could make their project slow, stagnant or unprofitable, as well as harnessing the best possible “good luck” and success energy right from the start. Apart from that, they also use feng shui as an essential guideline in selecting the best locations or maximize an existing one, as well as enhancing the building’s energy flow so that it is conducive in addition to being aesthetically pleasing from a design standpoint. What is of paramount importance is that a lot can be in done upon large-scale properties to bring in maximum prosperity to all parties involved.
Joey Yap’s Profile
Joey Yap Consulting Group
Joey Yap is the leading Feng Shui, BaZi and Face Reading consultant in Asia. He is an international speaker, bestselling author of over 75 books and master trainer in Chinese Metaphysics. He is also the Chief Consultant of Joey Yap Consulting Group and founder of the Mastery Academy of Chinese Metaphysics. For more information go to www.masteryacademy.com/ippt
19-3, The Boulevard, Mid Valley City, 59200 Kuala Lumpur, Malaysia. Tel: +603-2284 8080 Fax: +603-2284 1218
72 | iPROPERTY INSIGHT | PR1MA & MFH
The Public Speaks on PR1MA and MFH Sophocles’ saying rings true for just about anything, from individual progress to large governmental projects, because without effort and hard work, things will remain stagnant and failure will remain imminent. As any government effort needs to engage the audience it was meant for, the general public, we decided to take a step out into the streets to meet up with the people of Malaysia and ask them what they thought of PR1MA and My First Home (MFH) initiatives, and the efforts put in so far.
“Success is dependent on effort.” Sophocles, Greek poet
An Elusive Enigma Judging from the general response, plenty of Malaysians have yet to hear or read about PR1MA and MFH. In fact, many declined to be surveyed due to their lack of knowledge on the said subject. PR1MA and MFH remain elusive to the general public possibly because of lack of marketing and publicity.
Subathera Mariappan, a 25-year-old medical representative, put it succinctly when she said: “I was not even aware of this scheme. I can imagine the number of graduates who have no idea that such a scheme has been initiated by the Government.” Kenneth Jaysone Francis, a 28-year-old web developer said that he “doesn’t even know the difference between PR1MA and MFH” because there are no clear guidelines or policies which have been published. Optimism Despite Uncertainty Optimism was the general mood of the day, as interviewees, after given a briefing of the schemes, seemed interested in pursue them. Subathera
iProperty.com malaysia | 73
said that she believes this scheme can only benefit the young graduates and first time home buyers. “Hearing about the schemes, I am interested to find out more. Of course, I do have concerns like if there will be a quota system and the size of the homes, but it is refreshing to know that there is a scheme out there for people like me.” Echoing these sentiments are Tabitha Chang and Izyan Mohamad, one a 26-year-old travel and lifestyle consultant, and the other a publications and communications executive from Nilai. “I am very excited about the PR1MA scheme, and I am a hundred percent supportive of it,” Izyan said. “Renowned developers, quality work, good rates, good location – it is a complete deal for a first time home buyer.” Tabitha did say that she would be interested in the homes too, if they meet certain criteria. “I don’t want to buy a home in a remote area or to live in a pigeon hole, if you know what I mean. The information tells me that this is a good initiative by the Government though,” she said. Growing Concerns of The Youth of Today Izyan, however, did mention her concerns with finances and the balloting system to be implemented for the PR1MA homes, saying that though they may be the fairest way of choosing applicants, they “can be a hassle.” The same concerns were voiced by Kenneth, who also said that the 10-year tenancy rule
for PR1MA homes is quite rigid and does not reflect a real home owner’s freedom. “Some publicity and marketing for the schemes and their policies would be good. After all, young adults in Malaysia are very media-centric,” he suggested. Lee Choon Fai, a 24-year-old intern/journalist with Selangor Times, said that the government has its heart in the right place but did not put enough effort to go on the ground and look at the situation concerning young adults these days. “It’s a good scheme but its practicality needs some work,” he said, adding that fresh graduates’ salaries barely reach the RM3,000 mark, and transportation has become a more pressing need than a house. “Coupled with rising food prices, petrol prices and taxes, among other things, I’m not sure if fresh graduates and firsttime home owners would be able to stretch their money enough, despite the homes being cheap.” Lee said that the policies need to be better thought through for them to appeal to the target audience. Concerns Need to be Met Judging from the mixed response to PR1MA and MFH, it seems that much has to be done with regards to increasing the public profile of these initiatives. Both schemes would have a better place in the public eye if marketing and publicity strategies are put in place as they are a breath of fresh air for the young urban professionals unable to partake in any property offering due to pricing concerns.
74 | HBA
Voices of Dissent & ABM’s Response In last month’s instalment, HBA delved into the banking sector’s involvement in unlicensed housing developers and their contribution to the national track record of abandoned housing projects. This month we hear from the affected public, an ABM’s response to widespread media reports on the housing malaise.
In a letter to the Editor of a local English Language daily, the Association of Bankers Malaysia (ABM) has clarified on two articles entitled “No Licence! – 195 housing projects undertaken by illegal developers” and “Breaches allowed to go on at all stages”. We have taken a few salient excerpts as a background to the voices of dissent from affected homebuyers which follow the letter. 1. ABM mentions that their members, comprising 25 licenced commercial banks in Malaysia, are all lawabiding institutions that co-operated when ABM circulated the list of 195 “unlicensed” projects in which banks had allegedly provided purchasers of said units with end-financing facilities. These were not bridging loans and thus no contractual bond between developers and banks had been forged. As such, no security and debenture was extended and /or created.
2. A majority of 193 projects straddled the period of 1997 – 2005 with one project each developed in 2007 and 2010 apparently. Based on this, ABM mentions: • 6 member banks were identified as end-financiers to buyers in 46 projects, whereby 4 banks confirmed end-financing purchasers of 40 aforementioned projects. The remaining 2 have no such records of end-financing • The remaining 6 projects had no traceable records of alleged end-financing • 15 other projects were financed by non-ABM members • As for the remaining 134 projects which had no identifiable end-financiers, 6 member banks had indicated that they had provided end-financing for purchasers of 64 of the projects • Legacy cases – cases with no traceable records and banks involved had ceased operations
iProperty.com malaysia | 75 3. Where records were traceable, explanations on endfinancing undertakings involved: a. Ad-hoc application for end-financing involved individual credit worthiness or credit standing whereby the banks relied on the Sales & Purchase Agreement (SPA) between developer and purchaser as the banks were not panel end financiers. There was no suspicion that the SPAs were invalid and/or falsified b. 20 highlighted projects were not under the purview of the Housing Development (Control and Licensing) Act 1966 c. 7 projects were serviced apartments built on commercial land. These do not fall under the requirements of the Act and a housing developer’s license was not necessary 4. Time and effort of the banks would be better utilised in engaging the respective purchasers to extend aid and ABM and its members are working with the relevant agencies to realise this. Member banks have appointed a dedicated officer as a single reference channel for affected purchasers with assistance done on a case by case basis and rescheduling loans and/or lowering the instalment amount/interest rate for borrowers. Direct Response to “ABM Clarifies” The floodgates opened right after ABM’s letter to the daily was published. A certain Mr Robert Tan, author of “Buying Property from Developers: What You Need To Know and Do” wrote in to HBA to give us his take on this issue. He begins by expounding old school values such as integrity, hard work, patience, responsibility and commitment which are deemphasised by a more modern society as it is time-intensive to inculcate. In
the context of the housing development industry, old school methods of financing seem archaic yet they are vastly appealing to entice borrowers to the financiers. All the while, the flaws in the banking system are hidden from purchasers, with the Letter of Undertaking (LOU) being one of them. After a developer’s property is purchased, the end-financier requires the LOU from the developer before releasing the loan to the developer with the developer undertaking (promising) to refund the money to the end-financier should the project be delayed or abandoned. This is a form of guarantee that is as legally-binding as a contract, forming a check and balance mechanism between the two parties. However, when a developer is in a weak or doubtful financial position, banks would not sue a developer to pay up, instead asking the buyer for the sum borrowed. This effectively shifts the financial risk to the buyers and negates the LOU between banker and developer. It is this cause that many unsuspecting buyers are bankrupted as they cry foul about this situation. While old school bankers scrutinise details before approving a loan to the developer, a modern and fast fix, would be to sue the buyers for payment instead. In Robert Tan’s response to ABM’s reply, he pointed out that the bankers have totally missed the point in ensuring better recoverability of money lent to developers and instead propagate ‘profits privatized, losses nationalized’. He ends by asking for a more responsible financing system that promotes housing development laws to protect house buyers. Another unsuspecting victim of an unlicensed housing project which became abandoned midway was a
76 | HBA couple who purchased a house with one of the panel banks providing end-financing services to them. They were asked to sign two separate agreements for the housing lot and the house respectively and began making progressive payments to the developer. When the project was abandoned, the couple were sued by the bank for not settling the monthly interest and the loan recalled with the bank obtaining judgement against the couple. Despite pleas for a grace period and leniency, the bank proceeded bankruptcy charges against the couple with Bank Negara Malaysia and CTOS blacklisting them, preventing a loan to be obtained from another business or for another house. In the midst of this chaos, they discovered that the land belonged to another owner and the title was of agricultural status. The agreements signed were not compliant with the law and there was no conversion of land to building let alone approval for sub-division and building plans. The worst thing was the lawyer had migrated and the developer wound up. It was as if the whole transaction did not happen. The couple continued getting legal aid in defending themselves against the bank’s actions and in response to ABM’s letter pointed out the following:
Theirs is not the only case as HBA also provided another correspondence that had featured another victim of an unlicensed developer that is now getting help from AKPK and Malaysian Housing Association to stop the financial and legal recriminations against him when the project was abandoned nearly 10 years ago. Finally, an Australian-based Malaysian lawyer asked if indeed the affected parties can move on when they are still bound with financial commitments on a virtually non-existent property. He asked if ABM was indeed just sweeping the whole issue under the rug while the financial issues remain unresolved. While the whole debacle continues to play out, HBA maintains our vigilance to watch out for the cases and the feedback from the public on the response for this issue. This just proves the need to slowly move towards the Build-then-Sell (BTS) concept as proposed to the Parliament earlier in the year.
1. When banks grant loans to purchasers of unlicensed projects, are the banks law compliant? 2. To say that banks do not have a ‘direct contractual relationship’ with the unlicensed developers is to negate the letters written between both parties when a property purchase takes place as well as the security of the bank based on these purchases. 3. ABM has admitted to some members providing loans to purchasers of unlicensed housing projects and will classifying these as ‘legacies’ mean they are free from penalties of law? Also, does the phrase ‘time will be better spent to provide assistance to affected purchasers’ allow the wrongdoers from getting away scot free? 4. ABM’s reply to banks that cease operations seem like a cruel joke as there are Vesting Orders when banks are acquired and what is BNM’s role in supervising this? 5. When ABM says that their members rely solely on the SPA on the credit-worthiness of the purchaser, are they also admitting that there is no check and balance?
NATIONAL HOUSE BUYERS ASSOCIATION [HBA] No. 31, Level 3, Jalan Barat, Off Jalan Imbi 55100, Kuala Lumpur. Tel: 03-2142 2225 | Fax: 03-2260 1803 | Mobile: 012- 334 5676 | Email: info@hba.org.my | Web: www.hba.org.my
78 | PROF JOE CHOO
Penang Pearl of the Orient (Part 2) In Prof Joe Choo’s last article, the geographical form of Penang Island was studied from an Environology perspective, with the right front and back limbs of the turtle-shaped island pushing it forward. George Town is located at the right front limb while Batu Maung is at the right back limb. We look at the contributing influence of this shape to the property market in Penang.
The vibrant activities at George Town is obviously seen and there is no need for further explanation. However, how far will Batu Maung go and where else will benefit from the natural land form? Buying The Right Investment Property From the map, you may spot two arms of the mountains which is almost similar to the two arms that appear on the right front limb, but is a smaller one. Nevertheless, it is still a crucial factor because it supplies the earth energy to the area with Sungai Nipah to stop the energy.
When the energy is stopped, it bounces back to form a pool of homogeneous energy, we have to tap into the energy that is collected at the concave part of the river but not convex. Therefore, the property developers have to plan correctly otherwise the property buyers will have to choose the right property if it is meant for rental return. Why is it important for property buyers to choose the right units? If the property is feng shui-compliant, it will naturally benefit the tenant. When the tenant is doing well, they will then pay the rent on time otherwise, the turnover of the tenant will be high. Potential Areas of Growth At the end of the right back limb of the turtle, one claw is shorter than the other. In feng shui, the energy is stronger and better at the shorter claw. Besides, the natural landform of this claw allows only the shorter claw to have more development as the highland at the longer claw is almost reaching
iProperty.com malaysia | 79
the sea side and not much land can be developed there. Coincidently, the shorter claw is the connecting point of the Second Penang Bridge to the mainland. Thus, the next upcoming place is the Batu Maung area on the island and Batu Kawan on the mainland. After the right front and back limb of the turtle have moved forward, naturally the left front and back limb will be the next. There is limited room for development at any one of the limbs, so it is important to identify where the two arms which have the mountain range are. From the map, it seems like one of the arms appear be around the Kampung Sungai Rusa and Kampung Permatang Pasir area while the other one is at the Kampung Permatang Tengah and Pekan Genting area.
earth energy? In feng shui, we always observe the highland mass and the next is to find out where is the river, lake, pond or sea is located. In this case, both areas have rivers and are both facing the sea which creates a confusing scenario. However, upon closer inspection, this is not confusing at all, other than to locate the concave and convex parts of the river. The confluence of rivers is very important too. What is the confluence of river? It means the joining of two rivers becoming one, the joining point of the two rivers is where the earth energy is collected. From the map, there are more than two confluences of the rivers at Kampung Permatang Tengah and Pekan Genting. In a nutshell, this is the prospective areas for investors or property developers to buy land banks now before the land value goes up.
Between these two areas, which will be coming up first because they both have the arms to supply the
Prof Joe Choo was elected the President of the Malaysian Institute of Geomancy Sciences (“MINGS”) in 2008, a post which she currently holds. She was recently awarded a professorship by the Shanghai Jiao Tong University in China. She acts as consultant to various development projects and is frequently invited as speaker at many government and private property functions. Joe also conducts classes for the Persatuan Architect Malaysia (“PAM”) and the Malaysian Institute of Estate Agents (“MIEA”).
80 | HOME SERVICES | ELEGANT HOME
Creating a Safe & Comfortable Haven What we look for after a long day at work is to get home to a house that is warm, inviting and safe. However, while most homeowners rank being safe and sound as well as comfortable a very important criteria, none of them mentioned the desire to live in a home surrounded by nets and bars. We spoke to a few homeowners who shared their experience in creating a home that is truly a haven.
iProperty.com malaysia | 81 Pests can come in many forms and the maxim of safety first is to protect you and yours from both theft and bugs that are a common occurrence in neighbourhoods. As doors and windows are barriers that allow interaction between exteriors and interiors, having a tastefully flushed door and window that is both stylish and extremely safe is what modern homes need. Creating an Elegant Barrier Elegant Home is all about creating a secure barrier that is still stylish and features Marine Grade Stainless Steel mesh
material that is stronger than both aluminium and steel grille alternatives without the visual clutter. There are also a variety of Master Security Doors and Windows to choose from, whether they are hinged, double or single sliding panels, French or Bi-fold in design. In fact, the screens also help with the natural ventilation of the interiors without allowing insects such as mosquitoes or other pests to enter. We spoke to some who are currently using Elegant Home’s Master Security Doors, Windows and Screens.
I have waited for something different to get my house so that it looks pleasant when Elegant Home suddenly launched their new product called the Master Security Screen. I feel that this item is suitable for our home as I no longer have to put up a grille and mosquito net. It is really awesome to just put a 2-in-1 measure to protect my family from mosquitoes and theft. - Puan Sri Lee, Puchong
Since I placed Master Security Screens, my family feels secure from being bitten by mosquitoes and insects. However, most importantly, we are safe from theft. Our kids can now play around without any hassle. - Dr. Joey, Tropicana Golf & Resorts
Right after placing the Master Security Screen, my family no longer needs to worry about mosquitoes and insects as well as theft. I believe that this product has made our family safe day and night and it is really good to have one. Thank you Elegant for saving us! - Datin Ong, Damansara
82 | RENTOKIL
The ARTS of Asset Protection An asset is a sanctuary and prized possession to property owners, and for many, it may probably be the single largest investment made. Developing a property, investing on properties and protecting them, therefore, is an art. Rentokil tells you how to protect your assets through the Rentokil Advanced Reticulation Termite Solution (ARTS).
In Malaysia, as well as all over the world, termite infestation is one of the most devastating problems faced by many property owners. Subterranean termites are known as silent destroyers that leave no mark of presence until the damage is done and decimates properties within 3 months of entry. This can be either to the external structure or the structure of the building itself. The worse bite would be to your assets as most building insurance policies do not cover termite damage. As a property owner and investor, it is important to ensure that the value of your asset continues to appreciate during the span of time it is in your
Piping that goes through the ground beams
Curves to internal and external perimeters of building
possession. Protecting your property is understandably your top priority and this includes keeping natural threats such as termite infestations at bay. Termite populates rapidly and if left unchecked, termite colonies could severely affect the structural integrity of your property and cause costly damages. Termites are serious business for property owners worldwide, causing an estimated RM15 billion in property damages and repair costs annually. Rentokil ARTS diminishes termite threat from the early stages. It is primarily installed during the preconstruction phases under and around the concrete base of your properties.
Piping loop with sleeve cover that goes around service downpipe
Pipes that go along the retaining wall (if applicable)
Arresting Damages with Rentokil ARTS To put your mind at ease, quality control checks will be conducted by Rentokil experts during and after the installation of the system. Upon installation and completion of construction, a site inspection of the compound surrounding your property will be conducted using a non-intrusive termite inspection device that detects, confirms and tracks the presence of termites accurately. Additionally, roof void checks will be conducted to your property if applicable, safe and accessible. Rentokil ARTS package also include: • 3-year chemical warranty with a special recharge rate* • 50-year warranty on piping system* • Transferrable warranty to new owners
iProperty.com malaysia | 83
Why Rentokil ARTS? • Registered and approved termiticide by Pesticides Board of Malaysia (LRMP) • No internal drilling or damages inside a property during retreatment in the future
• Successfully tested and used over the past two decades, installed in more than 150,000 homes worldwide and in commercial buildings
• No chance of hitting water pipes or underground cable
• Appraised and certified by Commonwealth Scientific and Industrial Research Organisation (CSIRO) and the Australian Building Code Board
• External injection points are protected by a childproof lock
• High Grade uPVC material: Class 15 for pipes (AS1477), Class 18 for fittings (AS1477.2)
• Recharging of termiticide throughout the area covered by reticulation system without any exposure to applicator or property occupants
Rentokil ARTS is a comprehensive system of surveillance against termite attacks and subsequent damage. With its uniquely designed equipment and formulated termite control agent, a safe and equal distribution of termiticide around your property is delivered. In doing so, the termite control agent will repel and eradicate the infested components.
From an environmental standpoint, Rentokil ARTS is the perfect choice for keeping termites out of your property buildings as the termite management agents used are insoluble. Therefore, the barrier stays just where it is needed and does not leach away by rainfall.
Rentokil is committed to protecting your assets with the credibility of ARTS All Rentokil Service Technicians possess Pesticide Applicator License (PAL) or Assistant Pesticide Applicator License (APAL), certified by the Pesticide Board of Malaysia. Rentokil possess the knowledge, technology and expertise to manage various pests through a series of innovative pest control management solutions that is safe, effective and responsive. Whether it is global or local, Rentokil technicians have the expertise and knowledge to recognise the danger signs and deal with any pest issues effectively. To find out more about Rentokil ARTS, the defence against attack of termites, visit rentokil.com.my or call 1800 887 911.
* Terms and conditions apply
Interior Design
Serviced Office
84 | HOME SERVICES | CLASSIFIED
We provide One-stop renovation package & services in overseeing your house or office renovation from the very start till the end, all customized to your needs, saving you of any hassle or worry: ~Interior Design ~Lighting ~Furniture ~Home Appliances ~Curtain
~Painting ~Cleaning Services ~Any special request by client ~Potential tenants search
Deco More Studio Sdn Bhd
Custom Furniture
Interior Design & Build Consultant
Fax: 603-6201 9900 | Email: decomorestudio@yahoo.com
Your One Stop “Made-To-Order” Centre for Quality BURMESE TEAK, MERBAU, NYATUH, WALNUT, ELM & ROSEWOOD furniture We carry wide range of: Craft & Antique Furniture Porcelain Wares Assorted Knick-Knacks No 5, Jln Tun Mohd Fuad Tiga, Taman Tun Dr Ismail, Damansara, 60000 Kuala Lumpur, Malaysia Tel: 03-7728 1000 / 03-7728 4692 | Fax: 03-7728 4692 | HP: 012-322 6103 | Email: chinwliu@yahoo.com
POOLCARE SDN BHD Pool Care
20-3, Jalan 22B/70A, Plaza Crystalville 2, Desa Sri Hartamas, 50480 Kuala Lumpur Tel: 6012-345 2011 ( Project Manager ) 603-6201 3332 ( General Line )
(738780V)
No. 52A-2, Jalan PJU 5/21/ The Strand, Kota Damansara, 47810 Petaling Jaya, Selangor Darul Ehsan. 603-6142 2280 | 016-227 2016 | www.poolcare.com.my
One Stop Pool Services Our Services Include: ~ Swimming pool & water features maintenance. ~ Pool rectification works. ~ Supplies pool equipments & fittings.
88 | TOWNSHIP DIRECTORY
Alisma Dynasty View Sdn Bhd Seri Austin, Johor Double storey Terrace/Link House
which are gated and guarded residential projects. Launched in April 2010, prices of Alisma houses start from RM306,800 and it is anticipated to be completed in February 2012. The project consists of 180 units, comprising Section 1 (44 units), Section 2 (60 units) and Section 3 (76 units). The 20’ x 70’ double storey terrace houses, Alisma 1 & Alisma 2, come with comfortable built-up of 1,782 sq ft and 1,889 sq ft respectively. Also recently launched are 32 units of Azolla 1 22’ X 75’ double storey terrace houses with built up of 2,028 sq ft price from RM338,800. Early birds get special package with huge savings.
Developed by UMLand Berhad’s wholly-owned subsidiary Dynasty View Sdn Bhd, Taman Seri Austin in Johor occupies 500-acres of prime freehold land that is situated within Iskandar Malaysia and the popular Tebrau Area. Taman Seri Austin boasts excellent accessibility via the North-South Expressway, Dato’Onn Interchange, Pasir Gudang Highway and Tebrau-Kota Tinggi Highway. Currently, it only takes a 30-minute drive to get to the Johor Bahru city centre but this travel time would be cut short by half when the RM977 million Eastern Dispersal Link Expressway (EDL) is completed.
Both Alisma and Azolla are properties located at Phase 3 development equipped with Telekom Malaysia (TM)’s latest High Speed Broadband (HSBB) UniFi service Package VIP 5 which includes internet, video (IPTV), and voice with speed of 5Mbps via fiber technology. As a value promotion, all home buyers at Phase 3 will enjoy 2 years free service of HSBB. Taman Seri Austin is the first residential township in Southern Johor to collaborate with TM in offering HSBB.
Further Information: Seri Austin Sales Gallery Jalan Seri Austin 1, Taman Seri Austin Johor Bahru, 81100 Johor. Tel: (607) 354 1111 Fax: (607) 351 3202 Email: dvsb@umland.com.my Web: www.umland.com.my www.facebook.com/seriaustin
Currently, Dynasty View has three ongoing projects in Taman Seri Austin namely Amanda, Alisma and Azolla
Bandar Seri Putra Bangi Heights Development Sdn Bhd Bangi, Selangor A mixed development of residential and commercial properties
We present you another chance to own prime homes at Legundi Residensi Series II in Bandar Seri Putra. It continues the concept of contemporary design with water feature of the first series but with a much bigger built-up area. The township is directly accessible from Kuala LumpurSeremban Highway via the Putra-Mahkota Interchange and is surrounded by developments such as Bukit Mahkota, Impian Putra, Bandar Baru Bangi, Desaria Nilai, Bukit Unggul and Bandar Baru Nilai. Bandar Seri Putra is a self-contained township catering to the living, recreation and business needs of the modern and knowledgeable community. The 898-acre freehold development enjoys excellent accessibility, with a wide range of amenities and facilities within
the vicinity. It is approximately 20 minutes by road southeast of Kuala Lumpur, 15 minutes north to Seremban town, 15 minutes from Kuala Lumpur International Airport (KLIA) and 2 minutes to the Bangi (Lama) township. Being close to the Federal Territory of Putrajaya and the MSC, and adjacent to the education hub – comprising Bandar Baru Bangi and Bandar Baru Nilai which encompasses tertiary educational institutions such as UPM, UKM, UNITEN, Inti UniCollege and KUIS – Bandar Seri Putra is a much sought after address among civil servants, professionals and the intellectual community in the Southern Klang Valley. Its range of residential and commercial properties are infused with modern lifestyle features such as underground external electrical
and telecommunication services facilities. Extensively landscaped to provide a green environment, Bandar Seri Putra emphasizes on wholesome, healthy living. Interested buyers may select from a wide range of properties including bungalow lots, bungalows, semi-Ds, doublestorey terrace homes, townhouses, low-rise and high-rise apartments, as well as commercial shop offices. For further details, kindly call (603) 8927 1611 or send an email to salesbh@umland.com.my
2nd Series
Further Information: 34, Jln Seri Putra 1/2, Bandar Seri Putra, Bangi 43000 Selangor Tel: (603) 8927 1611 / (603) 8925 4972 Email: salesbh@umland.com.my Web: www.umland.com.my
90 | LATEST DEVELOPMENTS | iLUXURY
Shng Villas
Vue Residences
Location: Cheras, Kuala Lumpur Property Type: Semi-Detached House Land Title: Residential Build Up: 4,218 sq ft Listing Price: From RM2,300,000 Developer: Valencia Terrace Sdn Bhd (730978-X) Phone: (603) 7985 8188 / (6017) 581 2405 / (6017) 801 3575 Fax: (603) 7952 9848 Email: sales@ijm.com Website: www.ijmland.com
Location: Jalan Pahang, Kuala Lumpur Property Type: Serviced Residence Land Title: Commercial Tenure: Freehold Land Area: 2,833 sqm Build Up: 500 - 1,003 sq ft Listing Price: From RM371,600 Completion Date: Dec 2013 (Expected) Developer: Tanah Perangsang Sdn Bhd (538766-X) Phone: (6016) 229 5168 Fax: (603) 5637 9370 Website: www.vueresidences.com.my
Laman Ceylon
Icon Residence
Location: Jalan Ceylon, Kuala Lumpur Property Type: Serviced Residence Land Title: Commercial Tenure: Freehold Build Up: 624 - 1,604 sq ft Listing Price: From RM701,800 - RM1,890,000 Completion Date: End 2014 (Expected) Developer: Eminent Ace Sdn Bhd (341126-T) Phone: (603) 7806 3138 Fax: (603) 7806 3238
Location: Mont Kiara, Kuala Lumpur Property Type: Serviced Residence Land Title: Commercial Tenure: Freehold Land Area: 2.57 acres Build Up: 887 - 4,716 sq ft Listing Price: From RM1,200,000 Completion Date: 3 Years from SPA Date (Expected) Developer: Maxim Heights Sdn Bhd (747466-P) (A subsidiary of Mah Sing Group Berhad) Phone: (603) 6205 9888 Fax: (603) 6205 9999 Website: www.icon-residence.com.my
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92 | LATEST DEVELOPMENTS | KLANG VALLEY CONDOMINIUM
Project Name: Sentral Residences I & II Location: Taman Kajang Sentral, Kajang, Selangor Property Type: Serviced Residence Land Title: Commercial Tenure: Freehold Land Area: 2.24 acres Build Up: 1,047 - 1,529 sq ft Listing Price: From RM368,544 and above Total Units/Lots: 270 Developer: TKS Projects Sdn Bhd Phone: (603) 8739 7618 / (6012) 381 1611 Website: www.sentralresidenceskajang.com
Project Name: Amarin Wickham Location: Ampang Hilir, Ampang, Kuala Lumpur Property Type: Condominium Land Title: Residential Tenure: Freehold Land Area: Approximately 1 acre Build Up: 2,848 - 9,258 sq ft Listing Price: From RM2,998,000 - RM8,755,000 Completion Date: Dec 2012 (Expected) Developer: Amarin Wickham Sdn Bhd (737270-W) Phone: (603) 7729 1120 Fax: (603) 7729 2120 Website: www.amarin.com.my
Project Name: Saville @ Melawati Location: Kuala Lumpur Property Type: Serviced Apartment Land Title: Commercial Tenure: Freehold Build Up: 901 - 2,728 sq ft Listing Price: From RM389,500 - RM1,307,200 Total Units/Lots: 408 Developer: Perkasa Bernas (M) Sdn Bhd Phone: (603) 7981 0901 / (603) 4108 1878 Website: www.mkhberhad.com
Project Name: AraGreens Residences Location: Ara Damansara, Petaling Jaya, Selangor Property Type: Serviced Residence Tenure: Freehold Land Area: 7.5 acres Build Up: 684 – 3,831 sq ft Completion Date: 2015 (Expected) Developer: HSB Development Sdn Bhd (710822-A) Phone: (603) 2787 0688 Fax: (603) 2787 0699 Website: www.aragreens.com
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94 | LATEST DEVELOPMENTS | KLANG VALLEY CONDOMINIUM
Project Name: Koi Prima - Phase 1 Location: Puchong, Selangor Property Type: Condominium Tenure: Leasehold Build Up: 1,055 - 1,098 sq ft Listing Price: From RM320,000 - RM398,000 Completion Date: 2015 (Expected) Developer: Pagoda Canggih Sdn Bhd (371936-H) Phone: (603) 5623 3333 / (6019) 387 3122 Website: www.koiprima.com
Project Name: T-Parkland Location: Templer Park, Selangor Property Type: Condominium Land Title: Residential Tenure: Leasehold Build Up: 1,210 - 1,669 sq ft Listing Price: From RM353,000 - RM419,000 Total Units/Lots: 240 Developer: B&G Majestic Property Sdn Bhd Phone: (603) 8023 6868
Project Name: Olives Residence Location: Subang Jaya, Selangor Property Type: Condominium Land Title: Commercial Tenure: Freehold Build Up: 1,469 - 5,535 sq ft Listing Price: From RM734,000 - RM2,800,000 Total Units/Lots: 88 Developer: Conlay Land Sdn Bhd Phone: (6012) 290 7289
Project Name: 228 Condominium Selayang Location: Selayang, Selangor Property Type: Condominium & Villa Land Title: Residential Tenure: Leasehold Build Up: 965 - 2,575 sq ft Listing Price: RM288,000.00 - RM765,000.00 Total Units/Lots: 228 Bumi Discount: 7% Developer: Mahumas Sdn Bhd Phone: (603) 3080 1781 / (603) 3080 1791 Fax: (603) 6093 3176 Website: www.mahumas.com
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96 | LATEST DEVELOPMENTS | KLANG VALLEY RESIDENTIAL
Project Name: The Vale Location: Sutera Damansara, Selangor Property Type: Townhouse Land Title: Residential Tenure: Leasehold Land Area: 26' x 85' Listing Price: From RM780,000 (est) Total Units/Lots: 98 Developer: Semponia Sdn Bhd Phone: (603) 6142 1188 Website: www.thevale.com.my
Project Name: Canary Garden Location: Bandar Bestari, Klang, Selangor Property Type: Semi-detached House Land Title: Residential Tenure: Freehold Land Area: 40' x 80' Build Up: 3,447- 4,948 sq ft Listing Price: From RM988,800 - RM1,500,000 Total Units/Lots: 76 Developer: Khoo Soon Lee Realty Sdn Bhd Phone: (603) 3122 8268 / (603) 3122 8368 Website: www.bandarbestari.com
Project Name: Glenmarie Gardens City: Section U1, Shah Alam, Selangor Property Type: Bungalow House Land Title: Residential Tenure: Freehold Land Area: 8,364 - 14,693 sq ft Build Up: 6,060 - 8,033 sq ft Listing Price: From RM5,609,877 - RM8,238,877 Total Units/Lots: 23 Developer: Glenmarie Properties Sdn Bhd Phone: 1800 888 580 Website: www.glenmariegardens.com
Project Name: Laman Glenmarie City: Shah Alam, Selangor Property Type: 2-sty Terrace/Link House Land Title: Residential Tenure: Freehold Land Area: 1,765 - 6,006 sq ft Build Up: 2,429 - 3,442 sq ft Listing Price: From RM758,888 - RM1,450,888 Total Units/Lots: 186 Bumi Discount: 7% Developer: Glenmarie Properties Sdn Bhd Phone: 1800 888 580 Website: www.laman-glenmarie.com
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98 | LATEST DEVELOPMENTS | KLANG VALLEY RESIDENTIAL
Project Name: Masera Bukit Segar Location: Cheras, Kuala Lumpur Property Type: Bungalow House Land Title: Residential Tenure: Freehold Build Up: 7,087 - 8,601 sq ft Listing Price: From RM6,900,000 - RM8,900,000 Developer: PPB Hartabina Sdn Bhd Phone: (603) 9130 5088
Project Name: M Residence Location: Rawang, Selangor Property Type: 2-sty Terrace/Link House Land Title: Residential Tenure: Freehold Land Area: 22' x 80' Build Up: 2,380 sq ft Listing Price: From RM618,800 Total Units/Lots: 165 Bumi Discount: 7% Developer: Semai Meranti Sdn Bhd Phone: (603) 6092 8188 Website: www.mahsing.com.my
Project Name: Kingsley Hills Location: Putra Heights, Subang Jaya, Selangor Property Type: Semi-detached House Land Title: Residential Tenure: Freehold Build Up: 3,818 - 6,789 sq ft Listing Price: From RM1,950,000 Developer: Kingsley Hills Sdn Bhd Phone: (603) 8023 6868 Website: www.kingsleyhills.com
Project Name: D’Green @ Taman Meru Permai Residen Location: Meru, Klang, Selangor Property Type: Semi-detached House Land Title: Residential Tenure: Malay Reserved Land Land Area: 35' x 112' Listing Price: From RM530,000 Total Units/Lots: 24 Developer: MSN Development Sdn. Bhd. Exclusive Marketing Agent: REI Group of Companies Phone: (6012) 407 6692 Website: www.msnhomes.com.my
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100 | LATEST DEVELOPMENTS | KLANG VALLEY RESIDENTIAL
Project Name: The Park @ Bukit Serdang Location: Selangor Property Type: Semi-detached House Tenure: Freehold Land Area: 40’ X 80’ Build Up: 4,520 sq ft – 5,008 sq ft Developer: Nurani Gemilang Sdn Bhd (653966-W) Exclusive Marketing Agent: Twins Realty Phone: (603) 4022 5168 H/P: (016) 213 2163 Website: www.binastra.com.my
Project Name: Royal Ivory Location: Bandar Saujana Putra, Selangor Property Type: Cluster HomesLand Title: Residential Tenure: Leasehold Land Area: 16 acres Build Up: 1,722 sq ft Listing Price: From RM439,900 Completion Date: 2014 (Expected) Developer: Jauhari Unggul Sdn Bhd (519967-W) Phone: (603) 7877 7333 / (6011) 1233 0566 Fax: (603) 7877 7111
Project Name: Tujuh d'Wangsa Location: Titiwangsa, Kuala Lumpur Property Type: City Bungalows Land Title: Residential Tenure: Freehold Build Up: 5,255 - 7,146 sq ft Listing Price: From RM3,985,800 - RM5,960,800 Developer: Utama Lodge Sdn Bhd (486092-V) Phone: (603) 7726 8118 / (6017) 361 8118 Fax: (603) 7728 3636 Email: sales@shcsb.com.my Website: www.tujuh.com.my
Project Name: Cloverton Damansara Jaya Location: Petaling Jaya, Selangor Property Type: Bungalow House Land Title: Residential Tenure: Freehold Land Area: 7,000 sq ft Build Up: 6,000 sq ft Listing Price: RM4,920,000 Developer: Ong Chong Realty Sdn Bhd Phone: (603) 7710 1000 / (6012) 269 8622 / (6012) 732 3877 Fax: (603) 7729 0300 Email: enquiry@ocr.com.my Website: www.ocr.com.my
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102 | LATEST DEVELOPMENTS | KLANG VALLEY COMMERCIAL
Project Name: Icon City Location: Petaling Jaya, Selangor Property Type: Mixed Developments Land Title: Commercial Tenure: Leasehold Listing Price: From RM499,000 onwards Bumi Discount: 7%* onwards Developer: Sierra Peninsular Development SB by Mah Sing Group Phone: (6012) 227 1998 / 1300 88 3993 Website: www.icon-city.com.my
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*Terms & conditions apply
Project Name: 3elements Location: Puchong South, Selangor Property Type: Sofo Land Title: Commercial Tenure: Leasehold Land Area: 6.03 acres Listing Price: From RM255,950 - RM367,307 Total Units/Lots: 800 Completion Date: 48 Months from SPA (expected) Developer: Safetags Solution Sdn Bhd (Titijaya Group of Companies) Phone: (6019) 769 6191 / (6019) 729 6191 Fax: (603) 8022 9988
Project Name: Suria Jelutong Location: Bukit Jelutong 2, Shah Alam, Selangor Property Type: Soho Land Title: Commercial Tenure: Freehold Land Area: Approximately 4.5 acres Completion Date: March of 2015 (Expected) Developers: Sunsuria Hillpark Sdn Bhd (561852-T) Phone: (603) 6142 2727 / (603) 6145 7777 Fax: (603) 6142 2227 Website: www.sunsuria.com
Project Name: Sazean Business Park Location: Klang, Selangor Property Type: Shop-Office Land Title: Commercial Tenure: Freehold Land Area: 22’ x 75’ Listing Price: From RM1,650,000 Completion Date: June 2013 (Expected) Developer: Sazean Development Sdn Bhd Exclusive Marketing Agent: REI Group of Companies Phone: (603) 9058 6692
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104 | LATEST DEVELOPMENTS | OUTSIDE KLANG VALLEY MIXTURE
Project Name: Sunway Wellesley Location: Bukit Mertajam, Penang Property Type: Shop-Office Land Title: Commercial Tenure: Freehold Land Area: 20' x 65' / 73' Build Up: 3,704 sq ft / 4,182 sq ft Listing Price: Estimated from RM1,000,000 Total Units/Lots: 31 Bumi Discount: 5% Completion Date: 2015 (Expected) Developer: Sunway Bintang Sdn Bhd Phone: (604) 643 9898 Fax: (604) 644 1313
Project Name: Alyssa @ Puteri Residence (SSSD) Location: Bandar Puteri Jaya & Hill Park, Sungai Petani, Kedah Property Type: Semi-detached House Land Title: Residential Tenure: Freehold Land Area: 40' x 80' Build Up: 2,550 sq ft Listing Price: From RM257,651 - RM365,581 Total Units/Lots: 118 Bumi Discount: 5% Developer: OSK Properties Sdn Bhd (North) Phone: (604) 425 1818 Fax: (604) 425 8030
Project Name: The Peak SOHO Location: Kota Kinabalu, Sabah Property Type: Condominium Land Title: Residential Tenure: Leasehold Build Up: 497 - 920 sq ft Listing Price: From RM286,800 - RM689,800 Total Units/Lots: 212 Bumi Discount: 5% Completion Date: 2015 (Expected) Developer: Gracemart Resources Sdn Bhd Phone: (6088) 266 336 / (6016) 262 6933 Fax: (6088) 257 733 Website: www.sbcgroup.com.my
Project Name: Utama South Condominiums (Phase 1 & 2) Location: Bandar Utama, Sandakan, Sabah Property Type: Condominium Land Title: Residential Tenure: Leasehold Land Area: 6.13 acres Listing Price: From RM234,800 - RM476,800 Unit Available: 5 Total Units/Lots: 220 Completion Date: 3 years from S & P Agreement (Expected) Developer: IJM Properties Sdn Bhd (Sandakan Office) Phone: (089) 671 899 Fax: (089) 673 860 Website: www.ijm.com
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106 | LATEST DEVELOPMENTS | OUTSIDE KLANG VALLEY MIXTURE
Project Name: La Ferringhi City: Batu Ferringhi, Penang Property Type: 3-sty Terrace/Link House Land Title: Residential Tenure: Freehold Land Area: 1,335 - 1,785 sq ft Build Up: 3,100 sq ft Listing Price: RM 968,000.00 - RM 1,688,000.00 Total Units/Lots: 20 Bumi Discount: 5% Developer: Tat Boot Development Sdn Bhd Phone: (604) 228 2766 Website: www.laferringhi.com
Project Name: Sapphire 8 City: Bandar Seri Alam, Johor Bahru, Johor Property Type: 2-sty Terrace/Link House Land Title: Residential Tenure: Freehold Land Area: 22' x 70' Build Up: 1,897 sq ft Listing Price: From RM530,800 Total Units/Lots: 78 Bumi Discount: 15% Developer: Seri Alam Properties Sdn Bhd Phone: (607) 388 1111 Website: www.umland.com.my
Project Name: Orchardia City: Balik Pulau, Penang Property Type: 3-sty Terrace/Link House Land Title: Residential Tenure:Freehold Land Area: 20' x 72' Build Up: 2,630 - 2,752 sq ft Total Units/Lots: 64 Bumi Discount: 5% Developer: BP Villas Sdn Bhd Phone: (604) 642 3333
Project Name: Ivory Villas (Type D) Location: Perdana College Heights, Nilai, Selangor Property Type: Semi-detached House Land Title: Residential Tenure: Freehold Land Area: 50'x100' Build Up: 2940 sq ft Listing Price: From RM704,045 Completion Date: July 2012 (Expected) Developer: Seri Pajam Development Sdn Bhd (291244-M) Phone: (606) 758 1988 Fax: (606) 759 4788 Website: www.seripajam.com.my
108 | CHAN AI CHENG
Singapore SLING
in Foreign Property Ownership (Part II) With strong foreign ownership trends persisting in Singapore, despite nationwide cooling measures, Chan Ai Cheng discusses how the Singaporean Government protects its people, pricing trends and the reasons for the phenomenon.
Since 1973, the Singaporean Government has imposed restrictions on foreign ownership of private property by placing it under the jurisdiction of the Residential Property Act. The main aim of the Act is to strike a balance between giving Singaporeans ownership of residences at affordable prices, and attracting foreign talents that make economic contributions to Singapore to purchase properties. As a result of the Act, a foreigner cannot purchase restricted property, including vacant residential land, landed properties and landed property in strata developments but not approved condominium developments under the Planning Act, unless he or she obtains prior approval from the Law Minister. However, they can purchase any apartment or an approved condominium under the Planning Act. That said, the foreigner cannot purchase all the units within the development without prior approval from the Ministry.
“Should one wish to purchase restricted properties, submissions have to be made to the LDAU with each application reviewed based on the applicant’s residency status, contribution to the economy and investment in the needed industries in Singapore”. “Of course there are conditions such as the residential property must be used for own stay and must not be sold or disposed within three years after purchase,” he added. Price in Check, Not Due to the fast-paced movements in the property markets, the Government maintains a vigilance over the possibility of an asset bubble forming, and checks it where necessary. In a bid to keep pace with raising property prices, it announced in August 2010 a series of measures to prevent the public and private property sectors from overheating and to maintain a stable and sustainable property market, said Ismail.
Protecting the People Speaking to Lieutenant Colonel (NS) Ismail Gafoor, CEO of PropNex Pte Ltd, one of Singapore’s largest real estate agencies and the President of the Institute of Estate Agents, he highlighted issues that foreign property investors may face. According to Ismail, it is advisable for a foreigner to get an in-principle approval from Land Dealings (Approval) Unit (LDAU) of the Singapore Land Authority before committing a deposit.
“Some of the measures taken to cool the property prices include increasing the holding period for imposition of Seller’s Stamp Duty (SSD) from the original three years to four years,” PropNex’s Ismail said. “Additional measures, introduced on January 13, 2011, also saw the authority raising the SSD rates to 16%, 12%, 8% and 4% for the consideration of residential properties bought on or after January 14, 2011, and are sold in the first, second, third and fourth year of purchase respectively”, he added.
iProperty.com malaysia | 109
Other measures include lowering the Loan-to-Value (LTV) ratio limited to 50% on housing loans given out by financial institutions for property purchases for non-individuals and lowering the LTV limit on housing loans by financial institutions regulated MAS from 70% to 60% for property purchasers who are individuals with one or more outstanding housing loan at the time of the new purchase. In spite of this, the private property market continued its buoyancy, with prices exceeding the SGD1,000 psf mark for mass-market properties in outlying areas such as Jurong and Bukit Panjang. High-end condominiums saw an average price increase by 3.6% q-o-q from SGD2,179 psf in 3Q 2011 to SGD2,258 psf in 4Q. At the same time, average super-luxury residential prices increased 5.4% q-o-q from S$3,210 psf in 3Q2011 to S$3,383 psf in 4Q2011, although the peaks in these segments were still lower by 6.3% and 8.1% respectively than those recorded in the same period in 2007. “Over the past three years, we have witnessed strong buying interest by investors from China and India, a trend that was nonexistent just a few years ago,” Ismail said. “With continued buying interest from the top four countries – namely Malaysia, China, Indonesia and India – the demand for private properties is bound to increase,” he added. Investment Reasons
Low interest rates and cheap financing is reflected in affordable home loans with rates ranging from 2%-3%. We’ve discussed government intervention to ensure stability and curb speculation which either cools the market or stimulate demand during a downturn. In fact, many foreigners purchase property in Singapore as their second home for long-term residence thanks to its reputation as an educational and financial hub with low taxes and crime rates. Then there’s Singapore growing population. At 2010 estimates, the population of about 5.08 million is made up of only 3.77 million Singaporean citizens and permanent residents (PR). In the past five years alone, its Immigration and Checkpoints Authority (ICA) has granted an average of more than 30,000 PR statuses per year. As such, a growing population and limited land both contribute to the strong demand for housing, boding well for the market in years to come.
So, why should a foreigner invest in Singapore’s property market? Well, for a start, Singapore has had, since the 1960s, a stable government with robust forward planning. Due to this, it is renowned as a financial and educational hub with a reputation for its clean and transparent government. These factors benefit the property market tremendously. Chan Ai Cheng
General Manager, S. K. Brothers Realty (M) Sdn Bhd Registered Estate Agent with the Board of Valuers, Appraisers and Estate Agents Malaysia Certified Residential Specialist, NAR USA Certified International Property Specialist, NAR USA Registered Financial Consultant, IARFC For feedback on this article or any other comments, please email aicheng@skbrothers.com
110 | ACESCUBE
Will There Be a Property Crash in 2012? With many property buyers concerned of a property crash in 2012, as well as Government fears, we take a look at how financial matters have succeeded in cooling down the market and where do we go from here.
The latest property market reports Cause For Concern? show that the new housing loan Inflation has this singular guideline has successfully cooled According to Dr Yeah Kim Leng, effect, and that is, in your old down the property market, Chief Economist of Ratings Agency age you will never be able to with HwangDBS Vickers saying Malaysia Holdings Bhd (RAM), afford what you once took for that mortgage approvals and property prices have risen to a level granted during your youth. applications in February this year were that has created some concern. In 27 and 18 per cent lower respectively fact the International Monetary Fund Dr. Peter Achutha, 2010 than last year’s peak partly due (IMF) in its Article 4 consultation to the stricter lending guidelines report has mentioned that this is effective from January onwards. It has also mentioned the main risk or vulnerability facing the Malaysian that the loan approval rate has fallen to 45 per economy: overvalued house prices. cent from 55 per cent in August last year, while the margin of financing has been reduced to “It is not a bubble yet largely because for certain 70-80 per cent from 90-95 per cent in the heyday of segments (of the market), their income level is sufficient the property boom. to absorb those kinds of (high priced) houses. But
iProperty.com malaysia | 111
EXAMPLE: Loan Amount or Outstanding Balance : RM200, 000.00 Loan Tenure : 30 years Loan Margin : BLR – 2.2% Payable Interest @ BLR=6.60% : RM 723.29 Payable Interest @ BLR=7.60% : RM 887.67 Payable Interest Increased by 22.73% For the middle- to lower-income group who pay higher household debt versus disposable income monthly, they are under stress of high inflation rates. In essence, they are vulnerable to higher BLR rate. What is the expected BLR throughout 30 years loan tenure? What should you do when BLR fluctuates to protect your best interests? BLR increased to 12.27% by 1998 and 5.55% at 2009, the average BLR for a 30 year loan is between 8% - 9%. It will prolong loan repayment tenure and paying extra cost for owning a property. When BLR fluctuates, borrowers should adjust monthly repayment amount accordingly to avoid paying extra interest and tenure. there comes a point where you will find declining demand largely because of rising vacancies or declining rental yields that will help to cap property prices,” Yeah added.
How AceScube Works You can get everything in life you want if you will just help enough other people get what they want.
AceScube exists as a response to borrowers’ real financial needs. The monthly service fee reflects our promise of quality service as we reward customers with Borrower Help Borrower (BHB) Campaign. We provide the best solutions in settling housing loans at minimum interest and within the shortest timeframe, helping to turn liability(s) into real asset(s).
Can we still buy property? Certainly! This is provided that you are prepared for higher down payment and if you understand the risk of increasing BLR throughout the loan tenure. Credit Underwriters now have Zig Ziglar, 1984 tighter assessments on individual CTOS and CCRIS as well as collateral which refers to the property to be financed. This could avoid “unfair” deals higher than the market price as Creating awareness on loan management through the underwriter ensures that the property is free from Customer Appreciation Program by AceScube may floods and landslides, in close proximity to power promote financial wisdom via proper credit utilization. stations, oxidation ponds or faces any T-junctions. AceScube assists borrowers to monitor their loan with Properties affected by these factors would have poor Customised Interest Saving Scheme to slash tenure marketability and may not be accepted by the financier. and interest, and monitor BLR fluctuation risk from time to time. With BHB Program, borrower is giving Manage Your Loans Before They Manage You monthly cash incentive (20%) by recommending friends and family to take up the Customer As a smart buyer, loan management is essential to Appreciation Program. You can plan with the monthly safeguard your property against foreclosure risk or cash incentive gain from Customer Appreciation never ending loan repayments. Firstly, you have to Program to settle housing loan, car loan, personal understand the terms and conditions of the Loan loan etc. Besides hedging against inflation, borrowers Offer Letter and the risk of BLR fluctuation. An (especially the middle- to lower-income group) has increase of 1.00% on BLR may incur a hike in paying the opportunity to enjoy debt free life before reaching interest by 22.73%. retire age. This article is contributed by AceScube, which provides training in loan calculation, banking and finance knowledge and other business and communications know-how for entrepreneurs. For more info on AceScube’s BLR Management Service and Customer Appreciation Program log on to: www.acescube.com.my or contact them at (603) 9054 4033 or email them at info@acescube.com.my.
112 | Taxation by PwC
SCORE Set to Benefit Sarawak With the launch of the Tenth Malaysia Plan (10MP), the Government’s targeted growth of separate regions in the country builds a progressive and sustainable nation, including Sarawak. The Sarawak Corridor of Renewable Energy (SCORE) is one of the five development corridors that is poised to be the major catalyst of growth and development in the central region of Sarawak. We take a look at the investors and tax breaks available in the area.
Launched in February 2008, SCORE is poised to create 1.6 million new jobs, double the population of Sarawak, achieve a gross domestic product (GDP) per capita growth of 7 % per annum by 2030. SCORE covers approximately 320km, from Tanjung Manis to Similajau, and covers an area of 70,709 sq km. The major towns within the corridor are Sibu, Bintulu, Mukah, Sarikei and Kapit. The implementation of the SCORE initiative is spearheaded by the Regional Economic Development Authority (RECODA). RECODA’s primary responsibility is to promote and attract investment, and ensure that projects are successfully implemented. Its function also includes mobilising Sarawak’s natural resources to facilitate SCORE’s development and provide investor support. Ten priority industries which will have the highest economic impact on Sarawak have also been identified. These are: aluminium, glass, steel, oilbased, palm oil, fishing and aquaculture, livestock, timber-based, marine engineering and tourism industries. These industries are given priority in market planning, investment promotion and development.
SCORE-ing With Investors SCORE’s five-prong development strategy has been well received with a total of approximately RM32 billion of approved investments to date including: Investor
Industry
Tokuyama Corporation (Japan)
Polycrystalline silicon
Press Metal Sarawak Sdn Bhd (Malaysia)
Aluminum
OM Materials (S) Pte Ltd (Singapore)
Manganese and ferrosilicon alloy
Asia Minerals Ltd (Hong Kong)
Manganese ferroalloy
Dongbu Metal Co Ltd (South Korea) Asia Cement Co Ltd (South Korea)
Metallic silicon
Smelter Asia, a joint venture between Gulf International Investment Group Holdings Aluminum Sdn Bhd and Aluminum Corporation of China
iProperty.com malaysia | 113 Besides the above, other foreign investors have also expressed interest to invest in SCORE. One of the more recent ones is China Dalian International Economic & Technical Cooperation Group Co Ltd in the oil and gas related industry. The key attraction for companies investing in SCORE is the competitively priced (and abundant) energy resources being produced in Sarawak, specifically hydropower, coal and natural gas. Sarawak has the potential to produce 28,000 megawatts of hydroelectric energy by 2030 from its mighty rivers: the Batang Ai, Bakun, Murum, Pelagus Baleh and Limbang. To support the investments in SCORE, other infrastructure upgrades and projects being planned for Sarawak include: • the building of a new port (the RM1.8 billion Samalaju deepsea port) • expanding the reach of road networks, and • building of a rail link - the first ever in the state. All these will increase SCORE’s attractiveness to investors and bring major economic spin-offs to the state. The government has allocated some RM67 billion to develop the basic infrastructure needed for SCORE. So far, companies in energy intensive industries have been the first to jump at the opportunity to invest in SCORE. However, companies with interests in other industries especially those which fall within the ten priority industries are expected to follow suit.
Tax incentive Pioneer status
Tax exemption of 100% of statutory income; i.e. taxable income net of tax deductions and capital allowances, for a period of 5 years.
Investment tax allowance*
An allowance of 100% in respect of qualifying capital expenditure incurred for a period of 5 years
Research and development (R&D) incentives
Various incentives including:
R&D company which provides R&D services in Malaysia to its related companies or other companies • Investment tax allowance* Company carrying out in-house R&D for the purpose of its own business
Adding to the SCORE Card Besides the competitively priced energy, various tax incentives are offered to attract investors to SCORE. These incentives range from tax holiday or income tax exemption to investment allowances on capital expenditure incurred. Examples of the key tax incentives are set out beside:
Brief description
• Investment tax allowance* • Double deduction on revenue expenditure Reinvestment allowance*
An allowance of 60% in respect of qualifying capital expenditure incurred for the expansion of production capacity, diversification into related products, and modernisation of production facilities.
* This is in addition to the normal capital allowances.
At an allowance rate of 100%, the investment tax allowance incentive is very attractive especially for heavy industries that SCORE is luring which are highly capital intensive. Article contributed by Phan Wai Kuan, an Executive Director with Pricewaterhouse Coopers Taxation Services Sdn Bhd. She has over 20 years’ experience in taxation matters in New Zealand, Australia and Malaysia. Her experience in Malaysia includes advising clients on direct tax matters in the financial services, property development, manufacturing sectors as well as cross border investments. She can be contacted at wai.kuan.phan@my.pwc.com.
114 | REPORTAGE
Malaysian Investments in
Singapore Nothing ventured, nothing gained. This strain of thought permeates Malaysian investors’ mindsets when it comes to property investment in Singapore. We spoke to Singapore’s largest property developer, Far East Organisation, who together with its sister company Sino Group in Hong Kong, forms one of the largest real estate groups in Asia. Posting a combined annual turnover of USD 5.5billion and with total net assets amounting to USD 45 billion, Far East Organization is also one of Singapore’s largest property developers by market share. The group has managed to build more than 700 developments with 42,500 being private residences or one in six private homes in Singapore. Different Portfolios When it comes to Malaysians and property purchases in Singapore, the economic activity and reasons of staying in Singapore are the primary reasons that drive these purchasers. Keeping in mind that there are Malaysians who migrate to Singapore and become either PRs or citizens, these come with different motivations to purchase properties for own consumption instead of purely investment gains. According to the Urban Redevelopment Authority (URA)’s research, out of all the foreign property purchases in 2011, 20% of the total 15,904 properties were by Malaysians. This puts the country in third place behind China and Indonesia, with Chinese investors making the bulk of property investments of up to 28% of the total. When we spoke to Far East, the trends that emerge for Malaysian purchasers of properties include those that buy along the PanIsland Expressway (PIE) and those that only buy in downtown areas like Orchard Road. Purchasers of the downtown areas like Orchard Road and near the CBD were generally purchasing for the investment yields that the properties brought. The profiles of the investors were in-line with higher net-worth individuals with refined tastes for white spaces that were customizable. Recognising this need, the InEssence brand of properties were created to present savvy buyers with thoughtful services and design from master architects. The bespoke solutions
along with discreet security systems and measures all create a luxurious lifestyle experience for residents of their projects. In fact, Far East Organization is the only developer in the world to win seven FIABCI Prix d’Excellence Awards, which is the highest honour in international real estate.
AGENCY DIRECTORY Harta Putri
Prosper Realty
GS Realty Sdn Bhd
E(3)0628
E(3)1092
E(1)1307
Registered in 2006, Harta Putri truly brings out property as an investor’s crown jewel through its comprehensive services in Marketing and Letting of Residential and Commercial Properties in the Klang Valley and its surrounds. Helmed by Pn. Rusnani Ab. Rahman, who is armed with a Bachelor of Estate Management (UITM) and is a licenced Agent, Harta Putri is made up of experienced Senior Negotiators with through depth of experience in the respective areas they specialise in. Tel: (603) 4108 3217 Fax: (603) 4108 3211 Email: harta_putri@yahoo.com
Founded in 2005, Prosper Realty is an established real estate agency with a unique combination of knowledge and entrepreneurial flair. Through strategic partnerships with reputable developers and financial institutions, we are proud to be recognized as providers of high quality commercial and residential property, simultaneously offering clients plenty of successful opportunities in investments; selling or buying and leasing of properties. We also have a dedicated team specializing in Project & Property Management; Property Development & Investment Consultancy; Sub-sales & Auction Sales as well as Property Auctioneers. Take full charge of your career now! Join us and together we will make the most rewarding professional experience ever!! Kota Damansara Tel: (603) 6156 3366 | Fax: (603) 6156 3399 Mont Kiara Tel: (603) 6207 8222 Fax: (603) 6207 8111 Web: www.prosper.my
GS REALTY, formerly known as YL REALTY, has been established since 1999 as a real-estate specialist. Our principle practice was begun in 1986 and we specialize in project marketing besides our core business. With our strategic experience and well-informed as well as intelligent sales team, our brilliant marketing strategies for new project developments in the Malaysian and international markets have been very well received. Today, GS REALTY is renowned as one of the largest real estate firms in Malaysia, winning multiple awards, such as the ASIA PACIFIC EXCELLENCE BRAND 2011 and we have co-organised one of the biggest Real Estate Conference in Malaysia, the ‘National Conference – Wealth from Real Estate Investment in Asia’ (2010) and ‘Wealth from Real Estate Investment in Asia’ (2011). Join us and create a prosperous and successful future for yourself! Contact us for further information and the next step in your career. Tel: (603) 9222 5796 / (603) 9222 5797 Fax: (603) 9222 5791 Web: www.gsrealty.my Email: enquiry@gsrealty.my
www.chester.com.my
Metro Homes Sdn Bhd E(1)0228 Metro Homes is the leading real estate agency in Malaysia with 16 years track record and 13 offices Nationwide, 11 branches in Klang Valley, 1 in Penang and 1 in Kota Kinabalu, Sabah. Metro Homes have several departments that focus on High-end Properties, Industrial division, Commercial Division, Islamic division, Auction Properties, Project Marketing, International Sales and Australia Properties Division. To join us as Real Estate Negotiator, Senior Negotiator, Team Leader, Resident Manager, please call us for a rewarding career! Tel: (603) 7784 6088 Fax: (603) 7783 4767 Email: info@metrohomes.com Web: www.metrohomes.com
Chester Properties Sdn Bhd
Well Properties
E(1)1321
E(3)0594
Started in 2006, Chester Properties Sdn Bhd (CPSB) has successfully established within a very short time period from a single-office entity in Kota Damansara to multiple branch offices in Desa Sri Hartamas, Bangsar, and all the way to Gangnam-gu, Seoul, South Korea. CPSB provide an intensive training facility at Chester Training Centre Sunwaymas to equip our negotiators with an on-going training, professionalism and learning culture. Being awarded Service Provider of The Year 2009 in Business of The Year 4th Award by SMIs & SMEs Business Award, this has proved that we are one of the best real estate agencies in Klang Valley. Come join us as Real Estate Negotiator: Tel: (603) 6142 6000 | (603) 6201 3933 | (603) 2284 6991 | (603) 7804 7686 Fax: (603) 6142 6111 | (603) 6201 2133 | (603) 2284 7991 | (603) 7804 4686 Email: admin@chester.com.my
Registered and incorporated with the Board of Valuers, Appraisers and Estate Agents in June 1986, WELL Properties has been a well of real-estate knowledge and expertise with its dynamic and innovative approach to realty ever since. Plumbing its depth of experience in the Klang Valley and Selangor markets, WELL Properties provides sales and leasing services for commercial, industrial, retail, residential and land properties. Their suite of first-class services will make your first encounter the start of a beautiful lifelong partnership. Tel: (603) 9076 7177 Fax: (603) 9076 9177 Email: wellproperties.segar@gmail.com Web: www.wellproperties.com.my
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FINANCE IN FOCUS HBA Comments on the Banking Sector Malaysia – An Islamic Finance Powerhouse? Managing BLR in Housing Loan Mortgages
ISSUE 87 MAY 2012 KDN PP 13368/04/2013(032224)
MICA(P)121/04/2012 KDN PP 13368/04/2013(032224) ISSN 1823-8726
MICA(P)121/04/2012
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Northern Bloom in Rawang The former capital of Selangor’s Gombak district has been experiencing a development bloom since 2011 with major developers such as Glomac, Guocoland and Mah Sing being among the developers with ongoing projects in the area. Here is the lowdown on the blooming properties in the north. Surrounding Bandar Country Homes Bandar Country Homes is synonymous with Rawang simply because this established township by Tanco Development has been around for close to 10 years. With average subsale prices of RM125psf for residential properties within this 700-acre freehold township, it is a reflection of the potential for properties surrounding it. These include: ¥
Emerald Gardens by Guocoland Riding on the back of Emerald East and Emerald West in Rawang comes Emerald Gardens, which offers 2- and 2-1/2-storey homes on plot areas of 24’ x 80’ and 26’ x 80’ with gross built-ups from 2,990 sq ft. With 3 designs to choose from and the newly opened SJK(C) Kota Emerald School within the township el evated to an international school, this development is set to grow in the future.
¥ Saujana Rawang by Glomac Glomac’s first themed development on an exotic tropi cal setting, this township is spread out over 345 acres of matured land offers a good mix of 2-storey terrace homes, 2-storey courtyard homes, 2-storey semi-Ds and 2-storey shop offices. With some phases left to go and a commercial phase yet to be developed, the good purchase incentives also draw many to this de velopment.
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M Residence@Rawang by Mah Sing Mah Sing’s Affordable Homes offering is priced at an entrance price of RM390,000. With a GDV of RM948 million, the good variety of products include town houses, semi-dees, 3-storey shops and other ameni ties. Located just 5km away from Aeon Anggun and the newly-expanded dual carriageway from the NorthSouth Highway, M Residence@Rawang has been see ing good take-up rates of their Phase 1 and Phase 2 with Phase 3 open for booking currently.
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Desa Mas by Desa Mahumas Adjacent to Bandar Country Homes is Taman Desa Mas by Desa Mahumas Sdn Bhd which is offering the Aveda as the latest phase launched within this 100acre housing garden. This 16-acre 2-storey terrace homes will join the other 2-storey terrace and semi-D homes in the housing area.
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