EAST MALAYSIA’S LEADING PROPERTY PORTAL, MAGAZINE & EXPO
MANAGEMENT PLEASE CLEAN UP YOUR ACT!
Cost effective house ideas for
HOT TOPIC
affordable housing
Overview of a Sub-Sale TransactioN
ISSUE 88 RM9.50 (Inc GST)
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As the saying goes, “change is the only constant�. Without change there will be no growth, and without growth, there will be no prosperity. So far, it has been an exciting journey for Property Hunter. This past year or so, we have made some tweaks and additions. In January 2016, we changed the overall look of the magazine. In January, this year, we finally launched the much-anticipated PH App. A lot of time and creative work was put into both processes, and thankfully so far, they have been very well received. Another very exciting milestone for Property Hunter last month was being awarded the prestigious MSC status by MDec. To be given this title, it means that a company must be an IT or IT-facilitated company. And that’s exactly where Property Hunter is heading towards. To achieve this, we hope to eventually shift from being a publishing company, into a fullyintegrated IT company. And the first step in this process is that we have made the decision to change our magazine from being a monthly, into a bi-monthly publication. The decision to go bi-monthly is so that the transition into going fully digital will be easier for everyone involved. We will slowly shift our focus into moving all the content to our website. The first bi-monthly magazine issue will be rolled-out in June this year. We sincerely hope that you understand and will still support us all the way. Sometimes these changes are necessary and they have been thought of carefully. Every decision we make is usually made by putting you, our readers and our clients, in mind. Thank you always!
Iza Abidin Editor
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CONTENTS PROPERTY SHOWCASE | 10
SPINNAKER SOVO SUITE @ Likas Bay A New Benchmark of Couture Lifestyle
PROPERTY SHOWCASE | 16
Exclusive Collection in the Heart of Kuala Lumpur, Malaysia by WingTai Asia Prestige · Luxury · Refined
PROPERTY SHOWCASE | 22
Sentral Suites Live Empowered : Come Embrace The Sentral Suites Lifestyle
CONTRIBUTOR | 36
I am spoilt for choice There Are So Many Types Of Loans In Malaysia
FEATURED EVENT | 48
PH EXPO KK 2017 KICKS OFF WITH NEW FEATURES
FEATURED EVENT | 50
Transforming Your Real Estate Business In A Changing Era
FEATURED EVENT | 52
Launching of Bukit Damaisari @ Menggatal
FEATURED EVENT | 54
PRIME INTERNATIONAL PROPERTIES MALAYSIA & AREEYA PROPERTY THAILAND PARTNER TO MARKET THAI PROPERTIES TO MALAYSIAN PROPERTY INVESTORS
FEATURED EVENT | 56
Hatten Land Limited HostS Appreciation GALA Dinner
CONTRIBUTOR | 60
MANAGEMENT, PLEASE CLEAN UP YOUR ACT!
HOT TOPIC | 68
Cost effective house ideas for affordable housing
HOT TOPIC | 74
Overview of a Sub-Sale Transaction
HOT TOPIC | 80
Sustainable City: Is Kota Kinabalu doing what it should to become one?
HOT TOPIC | 86
Do Green Property Managers Attract More Considerate Residents?
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PROPERTY SHOWCASE
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“A New Benchmark of Couture Lifestyle”
SPINNAKER SOVO SUITE @ Likas Bay
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PROPERTY SHOWCASE
Aesthetically designed with the modern lifestyle in mind, Spinnaker sovo suite is poised to invigorate and inspire Likas Bay with its efficient small-officeversatile-office spaces.
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Your
Next Chapter Starts Here
For those that are contented to the splendours of working privately in their own space, look no further than Spinnaker sovo suite. This Grade A gem will be an all-inclusive destination of work and leisure comprising state-of-the-art office spaces, a timeless infinity pool and blissful scenery overlooking the sea. Conveniences are in abundance and within reach.
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PROPERTY SHOWCASE
The Best View Comes After the
Find Your Nook. Don’t Think of Cost,
Hardest Climb
Think of VALUE.
Luxuriously planned and artistically
Strategically located in Likas, this
crafted, Spinnaker sovo suite
development is surrounded with a
combines the beauty of seafront living
number of established housing and
with unparalleled luxurious living with
neighbourhood such as The Bay
both spaciousness and splendour for
Residences Condominium and other
the most valued inner-city life one
residential properties. Spinnaker
could ever imagine.
sovo suite is 7 minutes’ drive to the bustling Kota Kinabalu City Centre,
The exclusive facilities within
and 7 minutes’ drive to 1 Borneo
Spinnaker sovo suite creates a
Hypermall.
colourful place to live, work and play.
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25M infinity pool with sea views and
Spinnaker sovo suite consists
fully equipped gymnasium are just
of 18 luxurious duplex office space
the few luxuries offered for your total
ranging from 1,240 sq.ft to 1,496
satisfaction.
sq.ft, making it both versatile and vivacious.
Spinnaker sovo suite at a glance Project Name : Spinnaker sovo suite Location : Teluk Likas, Kota Kinabalu (approx. 5.0KM from Kota Kinabalu City Centre)
Type : Small-Office-Versatile-Office (SOVO) Land Area : 0.191 acres Tenure : 99 years Price Range : Early Bird Price RM 1,128,937.95 - RM 1,362,007.50 (Incl. 6% of GST)
Maintenance Fee : 44 cents (Inclusive of Sinking Fund) Unit / Lot Type Range : 1,240 sq.ft - 1,496 sq.ft Unit / Lot Types & Build-Up • SOVO Suite 3: Level 8 | Built up: 1,496 sq.ft • SOVO Suite 3A: Level 8 | Built up: 1,405 sq.ft • SOVO Suite 5: Level 8 | Built up: 1,240 sq.ft • SOVO Suite 5: Level 10 | Built up: 1,240 sq.ft Total Units / Lots & Block / Levels • Total units : 18 Duplex units with sea-front view • Parking : 3 levels with 40 parking bays and 2 disabled parking bays • Facilities Floor : Level 5 with 25M swimming Pool and gymnasium Expected Completion Date : September 2018 Main Attractions, Public Transports and Amenities Nearby Supermarket : Giant and Servay Hypermarket School : All Saints Secondary School, St. Agnes Primary School, Lok Yuk Secondary School, Lok Yuk Primary School, Chung Hwa Elementary School Medical Centre : Likas Hospital, KPJ Damai Specialist Hospital, KPJ Sabah Specialist Hospital, Queen Elizabeth II Hospital Other : St Simon Church, Christ Church Likas and Chinese Temple, Likas Mosque Public transport : Bus and taxi services along Jalan Teluk Likas and Jalan Tuaran
Development by Solid Destiny Sdn Bhd (749807-W) Tel: 6088.277.701 Fax: 6088.277.702 Email: info@spinnakerlikasbay.com Website: www.spinnakerlikasbay.com. Please contact Mariclarissa Selveno Fu on 6017.818.8199 or 6016.833.4638
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PROPERTY SHOWCASE
Exclusive Collection in the Heart of Kuala Lumpur, Malaysia by WingTai Asia PRESTIGE · LUXURY · REFINED words by WingTai Asia
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3 masterpieces designed for the discerning by award-winning architects
Prestige
Luxury
Refined
Live at a prestigious address that offers convenience matched with a cosmopolitan lifestyle.
Enjoy extra privacy of luxurious surroundings, spacious interiors and tranquility amid greenery.
Choose from uniquely stylish abodes with meticulous details and refined 5-star facilities.
Actual Site Photo taken from Nobleton Crest Penthouse www.PropertyHunter.com.my
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PROPERTY SHOWCASE
W
ith only 25 units on the property, these gorgeous and gracious villas come complete with their own private lifts. Each luxurious villa
boasts palatial grounds and space for prestigious living with a choice of simplex and duplex apartments. Nestled in the diplomatic enclave on the famed embassy row in downtown Kuala Lumpur, Nobleton Crest is just minutes away from the Royal Selangor Golf Club and Petronas Twin Towers. Comprising 3 low-rise blocks with 5 storeys, each unit measures from 3,500 sq ft to 6,000 sq ft. Its generous open concept is accentuated by 3-meter high ceilings, natural light and ventilation. Privacy and security is what one can expect with guards patrolling the perimeters, CCTVs at
Actual Photo strategic locations around the property, biometric access and in-built Smart Home System. Imported white marble adorns the interior flooring, with renowned brands for fixtures and detailing. The grand and generous outdoor grounds are sprawling with vine louvres, crystalline pools and lush tropical greenery. Come home to Nobleton Crest, an exclusive and luxurious sanctuary.
Actual Site Photo
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A
dual-tower residence, at 49 storeys and 43 storeys tall, Le Nouvel KLCC is articulately designed with refined interiors and unique details such as the
bespoke silk-screen window panels. It is a stunning sight to behold, made of glass and greenery. Le Nouvel KLCC sits along the prestigious Jalan Ampang, a stone’s throw from Petronas Twin
Actual Photo
Towers and KLCC. The premium estate is the epitome of luxurious living that rivals 5-star hotels. Located in the heart of Kuala Lumpur’s business and lifestyle districts, it offers a world of convenience with an integrated transport network. The 34th storey is reserved for fine dining with a view – its Sky Lounge, Sky Kitchen and Sky Dining are one-of-a-kind exclusive offerings within a residence, along with the Cigar Lounge and Wine Cellar. Elegant and magnificent all at once, you’ll find light naturally flowing into the open spaciousness,
amplifying every meticulous detail from white Grecian marble flooring, Poggenpohl kitchen, Miele appliances to Lema wardrobes… it is a resident’s dream come true. Every suite and penthouse is innovation in motion with only 195 exclusive units available, from 1,700 sq ft to 5,700 sq ft. Live your every desire here at Le Nouvel KLCC and expect only the very best of this architectural masterpiece by Pritzker Prize Laureate, Jean Nouvel.
Actual Site Photo www.PropertyHunter.com.my
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PROPERTY SHOWCASE
W
ith 3 towers standing at 43 storeys,
Verticas Residensi comprises of private suites
Verticas Residensi is an urban oasis
and penthouses with 308 units of spacious 4 and
that offers unlimited opportunities
5 bedroom apartments measuring from 1,427
for entertainment and high-end
sq ft to 4,452 sq ft. One can look forward to an
shopping. These spectacular skyscrapers offer a
expatriate community, concierge services and
stunning skyline view of Kuala Lumpur city.
luxurious facilities including a free shuttle to and from shopping districts in town.
Snuggled in a quiet locale within the Golden Triangle, its close proximity to Bukit Bintang area
Unique yet serene, Verticas Residensi is both
– Pavilion, Star Hill, Lot 10 – makes it a choice
charming and a haven that complements a very
cosmopolitan residence of culture and society.
social lifestyle, from a booming corporate world to the excitement of Kuala Lumpur night life to high-
Verticas Residensi sits atop Bukit Ceylon with a
end shopping and more. It is where you can truly
tropical rainforest setting. It is a luxurious blend
live life to the fullest.
between sleek modern design and tranquility of nature. One of the oldest forest reserves, Bukit Nanas, is also nearby.
Actual Photo
Actual Photo
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Actual Site Photo
Property Showcase Sandakan
Miri
22 & 23 April 2017
29 & 30th April 2017
(Saturday – Sunday, 10am – 5pm)
(Saturday – Sunday, 10am – 5pm)
Venue: Amadeus I, Sabah Hotel, Level 1,
Venue: Borneo Room 1, Pullman Miri
Sandakan, Sabah.
Waterfront, Miri, Sarawak.
nd
rd
th
RSVP at 013 835 1898 (Victor)
Location Map
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PROPERTY SHOWCASE
LIVE EMPOWERED
Come embrace the Sentral Suites lifestyle Sentral Suites is the latest landmark residential development in KL Sentral. It is aspired to create a place for a modern city lifestyle that thrives on the conveniences, fast-moving pace and energy of KL Sentral. Come, discover the empowering lifestyle of Sentral Suites.
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PROPERTY SHOWCASE
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KL Sentral, a world-class destination KL Sentral, the new generation CBD, is home to Malaysia’s largest transportation hub. A gateway to the city and the world. This is where 6 rail-networks pass through on a daily basis, serving an average of 150,000 commuters. This is also where a myriad of established amenities are all interconnected and within walking distance. With 5 international hotels, sleek office towers, luxury residences and the NU Sentral lifestyle shopping mall, KL Sentral is more than just a focal point of lifestylecentric activities. It is a world-class destination.
Retail Area
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PROPERTY SHOWCASE
It’s about creating a new community here
Drop-off Area
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Going beyond the basic four walls, Sentral Suites in KL Sentral is about creating a community. Every detail has gone into designing and providing functional, practical spaces for the community. At Sentral Suites, life is to be lived to the fullest.
Garden experience in the city
The overall concept of Sentral Suites is to provide a lush, nature’s sanctuary. There are over 2 acres of lifestyle facilities and open spaces to give residents zones to relax and soothe their senses amidst the busy, urban setting.
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PROPERTY SHOWCASE
Interactive zones for the community
Outdoor Jacuzzi
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The facilities area offers functional spaces and fun interactive zones. These dedicated areas not only encourage residents to enjoy social activities, there are also areas for residents to enjoy quieter moments with an elevated vantage point. •
15 Sky Pods & 15 Sky Gardens
•
1 infinity pool & 1 family pool
•
BBQ area
•
Sauna
•
Outdoor & indoor gyms
•
Taichi deck & reflexology path
•
Outdoor jacuzzi
•
Basketball court
•
Breakfast Nook for community sharing
•
Convenience of retail on the ground & first floors
Trendy living spaces
The residential units at Sentral Suites are designed to cater to the needs of various lifestyle requirements. Ranging from single room units right up to dual-key configurations with smart solutions for multi-functional spaces. The flexibility gives rise to many possibilities for personal space planning, even for extended families. •
10 types of layouts to choose from
•
Featuring 1 to 3 bedroom units & dual-key units with 2 bedrooms & 1 suite
•
Size from 650 – 1,166 sf
•
2 distinct & well-designed show units are open for viewing daily
Show Unit Type B
Kid’s Centre
Show Unit Type Corner D www.PropertyHunter.com.my
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PROPERTY SHOWCASE
A great location to be in
Sentral Suites enjoys a truly central location within the thriving metropolis of KL Sentral. Surrounded by many established amenities, a home at Sentral Suites is a world of convenience. This ranges from shopping to financial institutions, from educational institutions to restaurants, and from medical centres to public transportation. Sentral Suites is also easily accessible via a network of roads and highways that connects to other parts of the city. These include Jalan Duta, Jalan Travers, Jalan Bangsar, Mahameru Highway, Damansara Highway (SPRINT), Federal Highway and New Pantai Expressway (NPE).
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MRCB is a leading urban property
GDV of RM49 billion. Its property
and construction company, which
investment activity is conducted
has been listed on the Main Board
through its 27.9 % equity stake in
of Bursa Malaysia since 1971.
MRCB-Quill REIT.
The Group’s activities span four
Apart from constructing world
areas: Property Development
class commercial and residential
& Investment, Engineering,
developments, MRCB’s Engineering,
Construction & Environment,
Construction & Environment division
Facilities Management, and
also has an enviable track record in
Infrastructure and Concession.
highways, rail infrastructure, high voltage power transmission projects
As the developer of the iconic
and the rehabilitation of rivers and
RM18 billion KL Sentral CBD,
coastal areas. The division currently
MRCB pioneered Transit Oriented
has an external order book of RM7.0
Development (TOD) in Malaysia and
billion.
is setting the standard in future fully integrated TOD projects. MRCB’s
MRCB’s largest shareholder is the
property development revenues are
Employees Provident Fund.
underpinned by its 400 acre urban land bank which has an estimated
Sentral Suites At A Glance Project By
: Country Annexe Sdn. Bhd.
Project Name
: Sentral Suites
Property Type
: Serviced Apartment
Price Range
: RM728,800-RM1,367,800
Price per SQFT
: RM1100- RM1300
Built Up in SQFT
: 650 - 1,166 sq ft
Total Units
: 1,434 units
Expected Completion Date : Q2 2021 For more information, visit our show gallery at Lot 74, Jalan Tun Sambanthan, Seksyen 70, 50470 Kuala Lumpur, Malaysia. PH Property Gallery, Lot 2.08, Level 2, Imago Shopping Mall, Jalan Coastal Highway, 88300 Kota Kinabalu.
Vincent Ho
016 266 1999
Nazali Hussein
017 228 1350
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PROPERTY NEWS
PROPERTY, INVESTMENT & BANKING NEWS KEEP TRACK OF THE TRENDS IN PROPERTY AND REAL ESTATE
Sabah
SB IN
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SW
International
Sarawak BK
WM
West Malaysia
Banking & Investment
Facilitation Fund Approved to 52 Sabah Bumi Companies The Bumiputera Agenda
total, that were carried out
Steering Unit (Teraju) has
by the 52 companies. The
approved RM139 million
Facilitation Fund is disbursed
of Facilitation Fund to 52
as reimbursement up to 15
Bumiputera companies in
percent of the project cost.
SB
Sabah up to this year since its inception in 2011.
Of the RM139 million, Megat said, Teraju has allocated
This year, Teraju has allocated
RM45 million to Bumiputera
RM45 million of Facilitation
companies in the construction
Fund to assist Bumiputera
sector, RM36 million to oil
companies in Sabah for
and gas, RM24 million to
business activities or
agriculture , RM 21 million
Bumiputera companies in
expansion.
to business services, RM4.5
Sabah this year, for those who
million to wholesale and retail,
Megat explained that
For the last six years, Teraju’s
wish to carry out business
RM2 million to tourism, RM2.7
activities or expansion,” he
the Facilitation Fund was
Entrepreneur and Business
million to food manufacturing ,
presented in the form of
Development senior director,
said at a press conference
RM1 million to automotive and
during a site visit to Kotamas
reimbursement of up to 15
Megat Mohd Yatim, said the
RM0.7 million to healthcare.
Oil Sdn Bhd, a recipient of
percent of the project cost
the Facilitation Fund, at Kota
upon completion.
Facilitation Fund has been awarded to 55 projects,
“Our target is to attain RM45
valued at RM1.04 billion in
million grant approvals for
RM139 millon of Facilitation Fund has been approved to 52 Bumi companies
Kinabalu Industrial Park (KKIP)
Government Finalising Phase 2 of Pan Borneo Highway The federal government is
told a press conference after
finalising the development of
the Borneo Market Outreach
the second phase of the Pan
programme hosted by the
Borneo Highway Sarawak.
Small Medium Enterprise
on Monday (March 6).
SW
Development Bank Malaysia Phase Two, which connects
Bhd (SME Bank).
Limbang and Lawas through Brunei and eventually links
Among those present at the
to Sabah, is being firmed up
market outreach programme
by the Malaysian government
include contractors
and the Brunei government.
and vendors as well as representatives from SME
Works Minister Datuk Seri
Bank Group.
Fadillah delivering his speech
Fadillah Yusof revealed that the government is committed
Fadillah also said he was
a large scale infrastructure
enterprises (SMEs) in the state
to developing the Pan Borneo
looking at a route connecting
project which involves various
to a higher level.
Highway Sarawak and ensure
Tebedu to Serian despite
stakeholders and requires
that the mega-infrastructure
that not being part of the
the cooperation of all parties
project is completed on time.
Pan Borneo plan for the time
especially contractors and
being.
vendors which are involved
“I think the discussion with
in the project to make it a
Brunei is more or less firmed
“We will see whether we can
up, and now the government
include that one because
is looking into the details – the
there will be a link for us to be
The Works Minister believed
technical aspect and also the
well-connected with Pontianak
with the assistance of SME
financial aspect.
which will open up the
Bank which came to provide
economic activities between
financing to contractors and
Kalimantan and Sarawak.”
vendors for the project, the
“Once we have agreed on that, we should be able to start with the second phase,” he
success.
move will raise the profile The Pan Borneo Highway is
of the small and medium
He observed the move was also in line with the government’s vision of making the SME sector one of the biggest contributors to the economy by 2020. He also believed once the highway project is completed in June 2021, it will spur economic development and trade activities between Sarawak and Sabah. www.PropertyHunter.com.my
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NEWS
Good Time to Buy Properties as Prices Still Kept Current The Sarawak Housing and
as most of our developers
Real Estate Developers’
are still willing to maintain
Association (SHEDA)
the current prices or are
urges interested buyers
still selling properties from
to consider purchasing
previous projects.”
SW
property soon as they believe the time is right.
However, this trend is likely short lived as Ngui believed
“It’s the best time to buy
that residential projects set
now because prices are not
to launch within the next few
yet reflective of our falling
months might start reflecting
currency,” explained Dr
these new increased
Christopher Ngui, chairman
development costs.
of Sheda’s Kuching Branch during a press conference promoting their first Home and Property Roadshow 2017 on Tuesday, February 21.
Over the past couple of months, Ngui said there has been many factors set to drive up the cost of properties and their development such as the Goods and Services Tax (GST), depreciation of the ringgit and increased cost price of imported materials.
They drew this conclusion based on historical trends of housing prices after one or two years of recession. “I believe those interested should seriously consider buying now, especially those with cash,” Ngui spoke out while inviting prospective buyers to participate in their property roadshow whereby they will be able to meet face-to-face with top property developers and witness exhibitions of their projects.
“Yet, our houses are still not going up at the moment
For buyers who many require
Kuching, Sarawak
financial help, Ngui invited
buyers can also seek advice
them to obtain their Central
on their financial straits
Credit Reference Information
from representatives of the
System (CCRIS) at the Bank
Credit Counselling and Debt
Negara Malaysia (BNM) booth
Management Agency (AKPK)
which will also be present at
of whom will also be present
the event.
at the property roadshow.
“Getting your CCRIS can
Looking ahead for future property prices, representatives of Sheda noted that a catalyst for lower property prices in Sarawak would be the potential approval of higher density of residential buildings per hectare of land by the state government.
help you see whether you’re eligible for any of the programmes brought out by BNM that are aimed to help first-time homebuyers or homebuyers in general. “Even if you’re not eligible, you can use this time to figure out what exactly is causing your ineligibility and fix it before it is too late,” shared Ngui, further noting that
sabah Tourist Arrivals Recorded Its Best Last Year Sabah Tourism has recorded
best record in 2013 with
its best year ever in 2016 with
3.38 million tourist arrivals.
3.43 million tourist arrivals
On international tourist
with an estimated RM7.25
arrivals alone, we witnessed
billion in tourism receipts.
an increase of 15.4 percent
SB
compared to the 2015 In his speech at the Sabah
statistics,” he said.
Travel and Lifestyle Fair 2017, Sabah Tourism Board
He added that China remained
chairman, Datuk Joniston
the main contributor with 33.2
Bangkuai, said that this
percent market share with an
happened despite the
overall growth of 51.8 percent
challenges. The Sabah Travel
in 2016 compared to the year
and Lifestyle Fair was held
before.
correct partners, aggressively
He also said that the private
putting Sabah as top of the
sectors provided a platform to
“This is a result of years of
mind destination as well as
present Sabah’s local products
partnership with the private
embracing digital marketing.”
to international guests.
at Suria Sabah on 3rd - 5th March. “This has surpassed our
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sector, working with the
Mabul Island, Sabah
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35
CONTRIBUTOR
Spoilt for choice the many types of loans in malaysia If you walk into a bank today there are many loan products available. Borrowers are spoilt for choice. So which one is suitable for you? To me, the lowest interest rate package is not necessarily the best. It all depends on the borrower’s objective. There are many types of property loans which I’ll sum up in different categories. Words by Miichael Yeoh
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Term Loan
This one is the most basic. It includes paying principal and interest together. This term loan has a maximum tenure of 35 years or for a maximum age of 70 years old. For Example: Purchase Price RM 500,000 Margin: 90% Tenure: 35 years Effective Lending Rate: RM 4.5% Monthly Instalment: RM 2,129.66. RM2,166 consists of RM442.16 principal RM1,687.50 interest Gradually as months go by, the principal will increase and while the interest will reduce. That’s how you will finish your loan in 35 years. Please be aware that most banks have a penalty clause between 2 to 5 years of around 3% if you were to settle the sale of the property earlier.
Overdraft
In overdraft, only the borrowers pay interest. Using the previous example, the interest payable monthly will be RM1,875. There is no tenure year attached with an overdraft. Borrowers who pay more than the interest charge will reduce the principal. Overdraft uses current account facility. Borrowers can make prepayment at any time. It is more flexible than term loan but the interest rate is higher. Nowadays, it’s more difficult to get banks to lend pure overdraft. It will be easier if there is a mixture between a term loan and overdraft.
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37
CONTRIBUTOR
Flexi Loan
A Flexi or flexible loan is a combination of term loan and overdraft. Borrowers will still need to pay the minimum monthly instalment.
turn, will reduce the tenure year’s
Please be aware that once you
payable. Instead of putting your
draw out, interest will be charged
money in different accounts you
back. It uses the current account.
can lump it in flexi loan. Every time
Borrowers will be able to use
your money is in this account you
ATM, cheques and also online
will save on interest. It functions
banking for their transactions. It
as one account. Borrowers need
is a good package in which it can
not give any notice for any extra
save you from a lot of interest
Any extra payment will go towards
payment unlike in term loan.
if the borrowers use it to their
Borrowers can withdraw any extra
advantage.
reducing the principal, and in
money in the account at any time.
Fixed Rate Loans As the name suggests, it means interest rate that is fixed for the whole tenure. Banks have this package under Islamic loan.
38
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The interest rate is much higher
Borrowers who are worried about
than those conventional loans.
escalating interest rates will go
Some insurance companies (not
for this package. You do not have
under Islamic product), also have
to worry about the interest rate.
a similar package but with a lower interest rate.
Islamic Loan
Islamic loan uses the ‘murabahah’ concept under the Syariah principles. Under Islamic concept of borrowing, the banks will buy the property from the borrower, then rent it back to them. The bank will determine the profit rate in advanced after considering the tenure years.
Initially, the interest rate is fixed
Please make sure to read the
but as it evolved, a floating rate
letter of offer from the bank
was introduced.
before signing. In certain banks, they will have a special clause
In recent years there was a spike in
for this package. Make sure you
Islamic loan applications especially
understand the special terms
by property investors. Why is that
before signing.
so? In Islamic loan, the banks cannot charge a penalty for early redemption. Property buyers with an objective of very short borrowing time frame will opt for this package.
I hope that this article gives you insight into choosing the right loan package to take. If you would like to read more of my articles, go to www.miichaelyeoh.com
www.PropertyHunter.com.my
39
NEWS
Soft Launching of Wisma Sebangga
SB
AA Capital Group of
up a service centre in Tawau
Companies concentrates
before opening a showroom,
on a variety of businesses
reiterating that Subaru
ranging from engineering
owners no longer need to
and construction to financial
travel to Sandakan (or Kota
services. Sebangga Auto Sdn
Kinabalu) to service their
Bhd is the appointed dealer
cars.
for the brand of Subaru in Labuan and the entire state
Sebangga Auto promises
of Sabah.
to deliver their best performance and after sales
Sebangga Auto runs 3 Subaru
service to cater the needs of
car showrooms in East
their customers and through
Malaysia - Labuan, Sandakan
the great efforts in Corporate
and Kota Kinabalu. The
Social Responsibility (CSR)
company plans to expand
events.
to several more districts
assistance.
“Subaru is sitting in a growing SUV segment, targeting drivers of all walks of life”, said General Manager of Subaru Malaysia, Mr Andrew Lee.
AA Capital Group founder,
He also added that the
Dato’ Arif Ambrose said that
company plans to achieve
the company plans to open
4,700 sales nationwide, with
in East Malaysia over the next few years. The outlets also operate as 3S centres, offering the customers additional automotive services and after-sales
The Sebangga Auto team
8%-10% of sales from Sabah.
Legacy 2.5GT. The 2.5XT trims
Whilst the company doesn’t
of the Outback and Forester
have any plans to bring in a
also include a turbocharged
7 seater car to Malaysia just
engine.
yet, Andrew revealed that a new XV 2.0 will be introduced
The Sebangga Auto
in Q4 2017 nationwide, with
showroom is opened every
its delivery in 2018.
day; Monday to Friday from 9am-7pm and weekends
The Subaru cars are known layout in most vehicles above 1500cc. Subaru also offers turbocharged versions of their passenger cars, such as the Impreza WRX and the
Restaurants, Hawker Stalls, Ballroom to Close End March After 20 years in operation, the Putera Theatre Ballroom, Kampung Nelayan Seafood
from 10am-5pm.
for the use of boxer engine
SB
buildings it operates and its maintenance rights to DBKK.
Restaurant, Beijing BBQ Steamboat Restaurant and
The Water World Theme
hawker centre at Taman
Park nearby had also ceased
Tun Fuad Stephens in Bukit
operation since October last
Padang will be shut down
year.
this March 31.
Silverrado Corporations signed
The closure is due to the imminent expiration of the concession tenure between Silverrado Corporation Sdn Bhd and Kota Kinabalu City Hall (DBKK) in June this year.
the concession agreement
As the 20-year concession agreement comes to an end, Silverrado Corporation will be handing back all the 40
www.PropertyHunter.com.my
with the then Kota Kinabalu
Kampung Nelayan Seafood Restaurant
Municipal Council (MPKK) in and the first Water World
banquets and association
Theme Park in Kota Kinabalu.
functions.
RM15 million in building the
The public, especially regular
Likewise, the Kampung
Putera Theatre Ballroom,
joggers and hikers at Taman
Nelayan Seafood Restaurant
which could accommodate
Tun Fuad Stephens, had
proved itself equally
1,000 diners, Kampung
strongly protested against
popular with domestic and
Nelayan Seafood Restaurant
the project back then but
international tourists while the
and Beijing BBQ Steamboat
over the years, the Putera
water park became a favourite
Restaurant on the lake,
Theatre Ballroom had become
spot for children to hang out
alongside the hawker centre
a popular venue for wedding
and play.
1997. The company had invested
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41
NEWS
Mr Chew Sang Hai, Executive Director of Grand Merdeka elected as new President of SHAREDA
T
SB
The new SHAREDA Council members. Photo by All4One Productions
he Sabah Housing
elected as Deputy President
of Top Green Development
and Real Estates
with Datuk Francis Goh
Sdn Bhd
Association
Fah Shun remaining as the
(SHAREDA) held
immediate past President for
of Fine Landmark Sdn Bhd 5. Mr John Tan Duo Zer
2. Mr Johnny Wong Chen
- Chief Operating Officer
the member of the Council
Yee - Managing Director of
of Hap Seng Properties
as stipulated in Clause 9
The W Property Collection
Development Sdn Bhd
Election of Office Bearers for
(2), Rules & Constitution of
Sdn Bhd
the term 2017-2019 at their
SHAREDA.
their 24th Annual
General Meeting cum
SHAREDA mini auditorium in Bundusan on March 25th.
The majority of the new line-up of office bearers
During that time, we saw
derived from the present
immediate past President
council in office who are
Datuk Francis Goh stepping
confident to step-up to fill
down and a new President
the executive posts, taking
being elected. Goh took the
more responsibilities and
opportunity to inform those
committed to serving the
present at the election of
Association and its objectives.
his plans of joining politics and will continue to fight for
Here are the list of office
the 999-years land title for
bearers of SHAREDA Council
homebuyers. He said that he
2017 - 2019:
believes having that 999-years title will benefit developers as well as investors. As at 12:50 PM on March 25th, Mr Chew Sang Hai, Executive Director of Grand Merdeka Development Sdn
1 PRESIDENT • Mr Chew Sang Hai Executive Director of Grand Merdeka Development Sdn Bhd 1 DEPUTY PRESIDENT • Datuk Sr. Chua Soon
6. Mr Benny Ng Su Pei 1 SECRETARY-GENERAL • Ar. Ronnie Ang Guo Wei Concept Development Sdn Bhd
Fon - Director of Sinar Pembangunan Sdn Bhd 8 COUNCIL MEMBERS 1. Pengiran Saifuddin bin Pengiran Tahir Director of Sabah Urban Development Corporation Sdn Bhd 2. Mr Quek Siew Hau Group Managing Director of Wah Mie Realty Sdn Bhd 3. Mr Reggie Sua @ Boboy - Assistant Vice President
the President of SHAREDA’s
Director of Remajaya Sdn
of Sabah West, Syarikat
Council, term 2017 - 2019.
Bhd
Perumahan Negara Berhad
of Remajaya Sdn Bhd, was
42
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2 VICE PRESIDENTS 1. Mr Wesley Chai Meng Kong - Executive Director
7. Mr Ben Kong Chung Vui - Managing Director of Riverson Corporation Sdn
1 TREASURER-GENERAL • Ms Jen Kah Gen
Ping - Group Managing
Group Managing Director
Glowbest Sdn Bhd
- Company Advisor for RA
Bhd has been elected as
Datuk Sr. Chua Soon Ping,
- Executive Director of
4. Mr Raymond Chan Yin Hong - Managing Director
Bhd 8. Ms Emily Chew Fei Sean - General Manager of Grand Merdeka Asset Sdn Bhd In a press statement by the newly elected President, Mr Chew, vowed that he will do his best to continue Datuk Francis Goh’s legacy and continue to fight for homebuyers. He also added that he plans to have more affordable housing, better shopping malls and conduct more CSR projects.
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43
NEWS
Ecofirst Showcases Ampang Ukay Development in Phase 1 Launch EcoFirst Consolidated
the team to move forward
Bhd kicked off its highly
stronger than ever, “ said
anticipated RM5 billion
Dato’ Tiong Kwing Hee, Group
Ampang Ukay mixed-
Chief Executive Officer of
development in Ulu Klang
EcoFirst Consolidated Bhd.
WM
with the launch of its Phase One, Liberty Arc @ Ampang
“I would like to thank
Ukay on Friday, March 3.
EcoFirst’s business partners and employees for the
Some 400 business partners,
success we have enjoyed with
bankers, employees and
Liberty Arc @ Ampang Ukay.
purchasers attended the
Two out of the three blocks
colourful launch event
has achieved a take-up rate
themed “Urban Living and
of more than 90% while the
Modern Lifestyle” in line with
third block is currently at 30%
the design concept of Liberty
and selling fast.”
Arc. During the official launch, With a GDV of RM606.8
guests were presented with
Million, Liberty Arc @ Ampang
a special property talk by
Ukay comprises three towers
Ishmael Ho, Chief Executive
of 1,632 residential SoHo
Officer of Ho Chin Soon
units and 32 retail units.
Research who shared his
Keeping to its theme of
expertise on the prospects
modern urban living, it offers
of Ampang Ukay in view of
compact fully furnished units
current property scene in
each measuring 450 sqf in
Malaysia.
size. “Ampang Ukay is serviced by “This launch marks a major
strategic major roads, and
milestone and level in our
is sandwiched between two
next phase of growth. It is
affluent areas (Ukay Heights
definitely a motivation for
& Kelab Golf Darul Ehsan)
Sandakan Village Declared a Residential Area
President & Director of Veritas Design and Group Designated Architect of Liberty Arc @ Ampang Ukay, David Hashim; GM, Marketing and Retail Leasing of EcoFirst, Janice Loh; Group CEO of EcoFirst, Dato Tiong Kwing Hee and; CEO of Ho Chin Soon Research, Ishmael Ho.
This indicates interests from
A neighbourhood complete
a lot of “old money” in this
with retail convenience,
part of the City for their next
quality amenities, pedestrian
of kin,” says Ishmael.
and bicycle-friendly environments and a vibrant
“It is a premium space with a
nightlife, Ampang Ukay is
great proximity to economic
set to offer a one-of-a-kind
activity only waiting to
urban lifestyle for its future
unleash its full potential,” he
residents and visitors. It has
continued.
an outstanding GDV of RM5
A metropolitan city in the making, Ampang Ukay is sprawled over 87 acres of prime freehold land in Ulu Klang, envisioned as the Little Hong Kong of Kuala Lumpur.
billion expected to keep EcoFirst busy within the next 10 to 15 years.logo, tagline and vision, we are instilling a new mindset that will permeate everything we do,” Leong added.
SB
More than 726 house
proclamation letter to certify
Community
owners in Kampung Batu
the area as a residential area.
Learning Centre.
relieved when their village
“Residents of Kampung Batu
He also
was proclaimed as a
Putih who have lots or have
presented 10
residential area.
bought lots can now dwell at
wheelchairs to
their respective lots without
recipients and
The proclamation letter
hesitation and doubts,” he
witnessed the
was presented by Chief
said.
handing over
Putih, Mile 7 here were
Minister Datuk Seri Panglima
of contribution
Sandakan
Musa Haji Aman during the
The proclamation letter has
from the Sabah
Haji Mohd Edris, Libaran
“Pemimpin Menjiwai Rakyat”
certainly brought happiness
Welfare Department to 10
to more than 6,000 people
member of parliament Datuk
programme held at the
fire victims.
living at Kampung Batu Putih.
Juslie Ajirol and Sandakan
village’s multi-purpose hall yesterday.
Also present at the ceremony At the same ceremony, Musa
were Assistant Local
Musa advised the residents
also presented school bags
Government and Housing
not to worry as the water
to 250 schoolchildren from
Minister cum Gum-Gum
village had now received the
Tabika Kemas and Batu Putih
assemblyman Datuk Zakaria
44
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Municipal Council president Datuk Ir James Wong.
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45
NEWS
Sabah Focusing on Skilled Human Capital Development
SB
Sabah is focusing on
employment opportunities in
input on the matter so that
now, which was also in line
the development of
the manufacturing sector,” he
the funds could be channelled
with the period given to
knowledgeable and skilled
said.
effectively in the future,” he
achieve TN50.
human capital capable of
said.
taking over the tasks in
Speaking at the 2050 National
various economic sectors in
Transformation Dialogue
During his speech, Musa also
exceeded the international
Sabah in the future.
programme (TN50) which was
mentioned about the trees
standard requirement of
He added that the state had
held at Universiti Malaysia
replanting exercise involving
having 10 percent of Totally
Chief Minister Datuk Seri
Sabah (UMS) near here
850,000 hectares of forest
Protected Areas (TPA) as
Panglima Musa Haji Aman
yesterday, Musa stressed that
reserves in Sabah that has
Sabah has nearly 30 percent
said he had adopted the
all the efforts undertaken
taken place.
of TPAs.
approach of creating three
were to ensure jobs were
sectors, namely tourism,
available for youths in Sabah.
He said the state was
Also present were Malaysia
targeting to increase the
Youth and Sports Minister
agriculture and manufacturing as well as in the development
With regard to the TN50
hectarage by one million
Khairy Jamaluddin, Sabah Youth
of human capital ever since he
programme, Musa urged
hectares.
and Sports Minister Datuk
held the post.
youths who were present
Tawfiq Abu Bakar Titingan
to take an active part in the
At the same time, Sabah has
and other guests.bathroom
“This is my halatuju for Sabah,
dialogue and to share their
also gazetted 53 percent or
with features like anti-slip tiles,
which is now renowned
ideas so that the government
3.9 million hectares of land as
seamless material for easy
worldwide for the tourism
would know how it could
forest reserves, he said.
cleaning utilising the lotus-
destinations that we offer.
channel allocations that would
We also create entrepreneurs
benefit all youths.
He added that these would
“I hope all of you will give your
generation 30 years from
in the agriculture sector as well as create various
be inherited by the younger
leaf-inspired bionic surface technology, quick drying materials and functional usage of space,” he said.
Knight Frank Malaysia, S P Setia Collaboration of Insight and Networking Knight Frank Malaysia, the
Kam Tek Kong said, “Setia Sky
global property consultancy
Seputeh is glad to collaborate
held its first collaborative
with Knight Frank (Malaysia)
event with property
Sdn Bhd and arrange an
developer, S P Setia on
exclusive evening such as
1 March 2017. With the
this. We hope that the guests
recent launch of Knight
enjoyed the evening and took
Frank’s research report
away some valuable insights of
Real Estate Highlights for
the property market as shared
2nd Half of 2016, experts
and also information on our
share their insights on the
latest luxury condominium
market outlook on high-end
project, Setia Sky Seputeh in
condominiums / serviced
Seputeh, Kuala Lumpur”.
apartments and provided an overview of Setia Sky
Sarkunan Subramaniam
Seputeh. The private event
shared insights on the
saw the attendance of
market outlook on the high-
40 guests held at Setia
end condominium / service
International Centre.
apartment market in Kuala Lumpur.
The speakers of the night were Kam Tek Kong, Deputy
He said, “The market will
General Manager of S P Setia
continue to self-correct.
Bhd Group and Sarkunan
Potential buyers adopt the
Subramaniam, Managing
‘wait and see’ attitude due
Director of Knight Frank
to concerns of a slowing
Malaysia.
economy, weaker job
46
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WM
From left: Nat Quah, Senior Manager, Sales and Marketing of S P Setia; Sarkunan Subramaniam, Managing Director, Knight Frank Malaysia and; Kam Tek Kong, Deputy General Manager of S P Setia Bhd Group.
prospects, sharp fall in the
Developers will continue
Ringgit, amongst other factors.
to introduce more creative
Budget 2017 announces that
marketing strategies, the S
the stamp duty rate for real
P Setia 10:90 scheme is one
estate worth more than RM1
of them which successfully
million will be increased from
attracted more buyers.”
3.0% to 4% effective 1st Jan 2018. This may boost sales of
The event closed with dinner
million ringgit homes before
and lucky draw. Some of the
2018 as people will be rushing
lucky guests walked away with
to purchase the property
mystery gifts prepared by S P
before the increase of stamp
Setia.
duty.
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47
FEATURED EVENT
PH EXPO KK 2017 KICKS OFF WITH NEW FEATURES Words by Property Hunter
In mid-January, this year, the Property Hunter team launched a mobile app to make searching, selling, buying or renting a house easier. The app also serves as the gateway for priority express entry to upcoming exhibitions and events. To continue their annual tour tradition, the team organised and delivered the biggest property exhibition in East Malaysia.
48
www.PropertyHunter.com.my
P
H Expo, the biggest property
reputable establishments. Visitors
Other highlights of the event saw
exhibition in East Malaysia, kicked
were encouraged to jump on the IT
free legal and tax consultations from
off its annual property exhibition
band wagon and download the newly
reputable companies, a designated
in Kota Kinabalu on March 3 to 5, with
launched Property Hunter mobile app to
mobile charging zone and food and
45 developers participating in the event
skip the registration queue by scanning
beverages served by Adelphi & Co.
to promote 55 projects. The event
their personal QR code.
attracted 9,000 visitors, which was
PH Expo will see its next exhibition in
primarily dominated by the age group of
Steering away from the monotonous
Sandakan this coming April. For more
between 26 to 35 years old.
property talk, the team also invited two
updates of the upcoming expo and
real-life Sabahan investors, Kenny Wong
future destinations, please visit the PH
The team revamped their flagship
and YK Hwong, to share their investment
Facebook Page and website at www.
PH Expo by introducing new features
tips and journeys with the public in a
propertyhunter.com.my
and new collaborations from
casual setting over coffee.
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49
FEATURED EVENT
Transforming Your Real Estate Business In A Changing Era Words by Property Hunter
The Internet has changed the way people approach real estate investing. Selling a home has become more convoluted than in the past. Is it better to list a property by yourself, or enlist the help of a professional agent?
50
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T
o this day, real estate agents
This year, themed “Transforming your
contributions of Real Estate Negotiators,
have yet to become obsolete.
Real Estate Business in a Changing Era”,
for being the front liners in the industry,
In fact, it is hard to imagine
MAREC’17 delivered an urgent message
and to encourage all RENs to always be
that their services will ever not
calling for all real estate practitioners
ready to broaden their spectrums of
be needed. They simply offer too much
to keep pace with the fast-changing
businesses through on-going education
value to the average homeowner.
business environment.
process. In line with this recognition,
MIEA has been organizing the Malaysian
To make this convention possible,
sponsor of the “Inaugural MIEA National
Annual Real Estate Convention or
MAREC’17’s organizing team has been
Youth Summit”.
MAREC for the last 30 years. It has
working very hard for the past 9 months
been the annual event for real estate
to deliver not just “another MAREC”
practitioners to congregate and to learn,
but a “transformed” one. Convention
to network and to get recharged for the
Chairman, Lim Boon Ping said, “We want
year ahead.
to take this opportunity to recognize the
MAREC’17 has become the main
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51
FEATURED EVENT
Launching of Bukit Damaisari @ Menggatal Words by Property Hunter
Car park owner and operator, SCP Group, has turned to property development with several projects already lined up in Sabah and Klang Valley.
52
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T
he SCP Group launched
project will offer 204 units of 2-storey
Kinabalu Industrial Park (KKIP) and
the upcoming residential
terraced homes on a 22.46-acre piece
several education institutions such as
development on 4th March at
of land. Priced from RM585,000 with a
SJK Š Lok Yuk Menggatal, SK Darau
their project site. The launching
land title of 999 years for most of the
Menggatal, SMK Bandaraya and more.
saw an incredible turnout from the
units, this residential development is
public, with some showing their
ideal for those planning to start a family
Amongst other projects developed in
interests and placing bookings.
and settle down.
Kota Kinabalu by the group are Inanam Capital and Ashton Tower
Located at Menggatal, Taman Bukit
Bukit Damaisari is poised to be the next
Damaisari is a guarded double storey
hot spot in the Menggatal township,
terraced house development.
with its close proximity to the likes of Inanam Mall, Inanam Township, Grand
With a total GDV of RM100 million, this
Merdeka Mall, Menggatal Town, Kota
www.PropertyHunter.com.my
53
CEO of Areeya Properties Thailand, Mr. Wisit Laohapoonrungsee speaking at the press conference held at A Space ID Asoke-Ratchada, by Areeya Property, Thailand’s leading property developer.
Featured Event
PRIME INTERNATIONAL PROPERTIES MALAYSIA & AREEYA PROPERTY THAILAND PARTNER TO MARKET THAI PROPERTIES TO MALAYSIAN PROPERTY INVESTORS Thai property market expected to boom with expected growth between 5-10% per year
W
here does your mind go
negative external factors, interest in
consultancy has signed a partnership
when you think of real estate
buying offshore real estate is a booming
agreement with Areeya to market the
markets attractive to foreign
market here in Malaysia.” said Ms.
property here to property investors here
investors? The Philippines have turned
Nicole Tan, Senior Manager, Business
in Malaysia.
high profit margins for many an investor.
Development and Marketing for Prime
Singapore and Hong Kong will always
International Properties at the press
“Buying a property abroad is not only
supply a demand for housing as their
conference held at A Space ID Asoke-
a good strategy to diversifying your
nations continue to urbanize. There’s
Ratchada, by Areeya Property, Thailand’s
investment portfolio, it could bring you
another potential market entering the
leading property developer on 22nd Feb
much more than you can imagine. We
big stage with attractive opportunities:
2017 in A Space ID, Asoke-Ratchada,
believe that Thailand’s property market
Thailand. Thailand is still classified as a
Bangkok Thailand, where members of
will show average growth of between
developing nation, but a savvy investor
the media from Malaysia were taken on a
5 -10% a year from 2017-2020 and will
knows that rapid development means
showcase tour of the property. Malaysia
benefit Malaysian investors interested
rich opportunity.
was the first to be invited to see the
in buying overseas properties.” she
property. Prime International Properties,
continued.
“Despite the softer ringgit and other
54
www.PropertyHunter.com.my
a Malaysian based International Property
ABOUT A SPACE ID ASOKE-RATCHADA A Space ID Asoke-Ratchada which was launched at the event is a new generation of condominiums situated right in the heart of the business district. With one bedroom and two bedroom fully furnished apartments with minimalist décor, this relaxed private residence includes an automatic Mechanical Parking system, a large freeform swimming pool, a fitness club as well as a sauna and steam suite. The property is strategically located by Rama 9 MRT station and in close connection to the BTS skytrain, making it convenient in getting to business districts of Silom, Sukhumvit and Asoke. There
Mr. Wisit Laohapoonrungsee, CEO of Areeya Properties, Thailand was there to personally introduce the property to Malaysian Media. Property Hunter’s Editor, Iza Abidin, were among those in attendance
a major political upheaval to the tragic
residents will find their own peace in
events, and come out stronger. That
their elegant homes while connecting to
ability to bounce back is a rare and
Thailand’s Japanese community, just a
C Extra, Esplanade and Terminal 21.
attractive quality to the savvy investor.
few steps away.
Highway access points to Rama 9 and
With the future railway of Kunming
The other, will be categorized in the
(China) leading down south to Bangkok
super luxury segment where each of its
as well as the future canal increasing this
elements will have world class standard,
city’s already existing multiple channels
as can only be delivered by the world’s
Airport.
of logistics; a foreseeable influx of
top tier professionals. The property will
more investors from the Greater China,
be located on the last available piece of
“Thai real estate is one of the most
Hong Kong, Malaysia and Singapore is
land on Ratchadamri road, thus making
to be seen once these countries are
it a-must-buy for those who would like
connected.
to possess a piece of Bangkok’s most
are a variety of shopping malls in the area including Central Plaza Grand Rama 9, Fortune Town, Robinson Ratchada, Big
Asoke–Din Daeng are close by as well as a 5–minute driving distance to Makkasan Airport Link station to Suvarnabhumi
reliably growing markets in the world. Prices show continued growth year on year, across all sectors of the market:
valuable legacy, as the development is
ABOUT AREEYA & THEIR PLANS FOR 2017
accepted and approved by the Office
around ten million baht) a previously
In regards to condominium segment,
technologies to support your daily life
sluggish segment of the market, are
Areeya plans to launch 2 high end
showing growth and attracting foreign
projects later this year. The first will
investment dollars for the first time since
be located in one of Bangkok’s super
2013.” said Mr. Wisit Laohapoonrungsee,
prime area, Sukhumivt 53, with an
CEO of Areeya Property at the launch.
approximate project value of more
condominiums have posted between five and twelve percent annual price growth every year since 2008, with no sign of slowing down. Even luxury properties, (above US$300,000, or
than THB 1.3 billion. With this particular The Thai real estate market’s greatest
project, Areeya plans to make history as
strength are its tried and tested
it will be the only condominium project
resilience. Property demand and land
in Thailand’s history to be delicately
values have rebounded from multiple
designed with a real sense of Japanese
crises over the past three years: the
influences. Purposefully built with a
market has weathered everything from
limited number of units available, the
of Privy Purse who officially manages properties for the King of Thailand. In addition, the true meaning of ultimate living will be found here where latest and essences of nature are combined perfectly in this Bangkok city’s newest icon. The project is currently worth the most to Areeya Property, with over THB 10 billion invested, the company will be thrust skywards to be considered the top residential development company in Thailand. For more information on the property, visit www.primeprop.co or email info@ primeprop.co.
www.PropertyHunter.com.my
55
FEATURED EVENT
Hatten Land Limited HostS Appreciation GALA Dinner Hatten Land Limited is one of the leading property developers in Malaysia specialising in integrated residential, hotel and commercial developments and is headquartered in Malacca, Malaysia. In conjunction with its Official Listing on the Catalist Board of The Singapore Exchange, the group hosted an appreciation dinner to celebrate their triumph. Words by Property Hunter
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Welcome Speech by Dato’ Colin Tan during the Appreciation Dinner in Melaka www.PropertyHunter.com.my
57
FEATURED EVENT
From Left to Right: Mr. Chong Foh Siong (Head of Development Management), Ms. Ruth Tan, Dato’ Edwin Tan (Executive Director & Deputy Managing Director), Datin Elaine Tan, Datin Sharon Tong, Dato’ Colin Tan (Executive Chairman & Managing Director), Datuk Wira Eric Tan (Advisor), Datin Wira Janice Lu, Johnson Chua (Group Financial Controller), John Lee (Executive Director & Head of Corporate & Finance), Mark Tan (Head of Business Development)
H
atten Land Limited (‘’Hatten
The highlight of the event was
“With a 10-year track record as the
Land” or the “Company”), a
the inspiring speech by Executive
largest mixed integrated developer
leading property developer
Chairman and Managing Director of
in Malacca, Malaysia, Hatten Land is
in Malaysia, celebrates
Hatten Land, Dato’ Colin Tan. Dato’
a trusted and multi- award-winning
the successful debut on the Catalist
Colin Tan said: “We are grateful
property developer, focused on
Board of the Singapore Exchange on
and encouraged by the investment
delivering our strategy for growth and
28 February 2017 with a grand gala
community’s support towards the
enhancing long-term shareholder
dinner in Melaka’s top premier hotel
Company. The listing of Hatten Land
value. We are committed to enhancing
on 7 March 2017.
on SGX-ST enhances our visibility and
our competitive edge while we set our
provides a platform to collaborate with
sights on being a regional property
As the property development arm of
more international business partners
developer in Southeast Asia to cater
Hatten Group, Hatten Land hosted
in our future developments. Besides
to the growing demand for quality
approximately 500 distinguished
our current property development
integrated developments in the
guests in the ballroom of Hatten
portfolio of four key assets valued
region,” Dato’ Colin Tan added.
Hotel Melaka. The event was
at RM1.9 billion, Hatten Land has
held in appreciation of all the key
access to more than 20 prime land
The evening ended with a resounding
stakeholders, corporate partners and
bank and development rights for
group toast to the success and future
long-term supporters of Hatten Land.
future development. The access to the
of Hatten Land.
capital market offers us the significant Guests enjoyed a rousing performance
impetus to pursue our next phase of
by a renowned hand percussion
growth.”
crew along with the soulful vocal performances by Nutserlar Lim and a 5-piece live band.
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Gong striking to mark the first day of trading of Hatten Land Limited on Singapore Exchange - 28.02.17
Gift exchange between SGX and Hatten Land Limited : Mr. Mohamed Nasser Ismail, Head of Equity Capital Market (SME) and Capital Market Development, Singapore Exchange and Dato’ Colin Tan, Executive Chairman & Managing Director of Hatten Land Limited
Group photo with Independent Directors, Business Associates, Sponsors and family members during the Listing Ceremony at Singapore Exchange – 28.02.17
The talented Nutserlar Lim performing at the Appreciation Dinner in Melaka
Top Management group photo during the Listing Ceremony at Singapore Exchange from left to right : Johnson Chua (Group Financial Controller), Mark Tan (Head of Business Development), Dato’ Colin Tan (Executive Chairman & Managing Director), Datuk Wira Eric Tan (Advisor), John Lee (Executive Director & Head of Corporate & Finance) , Dato’ Edwin Tan (Executive Director & Deputy Managing Director). www.PropertyHunter.com.my
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CONTRIBUTOR
MANAGEMENT, PLEASE CLEAN UP YOUR ACT! Words by YK Hwong PropertyKid.Com
“BANG! BANG! BANG! “ It was already 9pm and the sounds of workers hammering could still be heard in another unit from my 1300sf, so-called luxury condo. And just when you think it was over, Drrrrrrrr! Drrrrrrrr! Drrrrrrrr! The sounds of drilling then began...
This was what was related to me by a friend. He was trying to listen to Beethoven at his condo, but was instead unpleasantly treated to a roaring orchestra of workers working at his condo building. According to him, this was not the first and last time it happened. Most management in condos have a strict rule regarding what time renovation or contract works are allowed. Usually Mondays to Fridays are from 8am to 5pm, and Saturdays are 9am until 12.30pm. All work should be stopped at 6pm, as residents need their peace and quiet after a long day at work. I’m pretty sure most of the management companies have rules and regulations like these in place; after all, no right-minded management would allow any work to be done after 6pm, right? Enforcement is KEY here. And residents need to voice out their complaints and concerns to the management. I believe Sabahans in general are too passive and timid when it comes to their rights. I believe we need to give the relevant people our “two cents” when it comes to how the condo and our community is run by the management. You and I should speak up when you notice that the management aren’t doing their job properly. Too many times I’ve heard, “They collect all those maintenance fees, but I don’t see them doing anything. The rubbish not collected, etc.” But then again, people actually don’t put their complaints down on pen and paper for the management.
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61
CONTRIBUTOR
A Wish List for Management Corporations:
1.
ensure diligent rubbish disposal Please make sure that rubbish is disposed of regularly and that proper hygiene is maintained. Dumping areas should be clean and free of stink (ok, this one’s a bit tricky, but if there is no durian or belacan in there, I guess it should be ok). Nothing is more disgusting than finding someone’s unfinished fried rice from yesterday that’s still in the dumpster (it may have looked and smelled nice before) but it reeks of rotten and makes you hold your breath. Now, management could start by legitimizing the recycling of plastics, aluminum cans, paper, and general waste. That way it’s more organized and is better for the environment. Plus, management can use the recycling money for the upkeep of the property. It’s a win-win for both.
2.
ensure lifts are well-lit & safe Nothing is worse than creepy lifts. I remember a few months ago, when I was visiting a friend at his apartment, I was astonished to see that the lift we took was dingy because the light had burned out. Maybe it’s because I watch too many horror movies with scary scenes in lifts, but it freaked me out (ok, I admit that dark lifts make me uncomfortable). And you know what the worse thing was, this was a newly completed project. How did this one get its OC? Hmm…
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3.
6.
enforce your house rules, please
Accountability and transparency
House rules are….well, rules that are meant to be
I think management books need to be open to
followed, right? Otherwise why have them in the first place?
residents: what are the expenses? who are the
To fill out pages in the booklet? Or did the management
contractors? They must als be audited by an auditor
just simply copy it from somewhere? Ok, I’m asking too
appointed by the residents. We want to know where and
many questions here. But if you say “NO WORK AFTER
what our money was used for, and whether the work was
6PM”, then please enforce “NO WORK AFTER 6PM”. Period.
actually done for the invoices paid.
It’s really that simple. And no special favours, please!
4.
No more “automatic” boom gates First of all, security boom gates are meant to stop nonresidents from entering without proper reason. A lot of the time, guards are super strict at first, but sooner or later, the boom gates became “automatic gates”. Cars can now magically enter without security cards or registering. Sure, sometimes the resident themselves are at fault because they had left their access cards or that they didn’t want to pay RM50 just to make another card, instead, using the “You know who I am, mah” card. Of course, it’s nice when guards recognize me after having stayed somewhere for some time, but, security personnel should not let anyone
7.
Use social media or instant messenger I don’t read my mail often, usually only once a week. But with the popularity of social media and instant messenger, it’s high time for management to use social medias to engage with its residents. Having a WhatsApp group chat with residents is a good option, but, make sure to keep it professional and not a kopitiam group. Creating a Facebook page informing of the latest happenings and developments is also good and fosters closer relationships between residents and management and among the residents themselves. Events can be organized through these platforms and results can be shared for closer communities.
just enter like that . There are, however, a few places that actually do a good job of this, like Alam Damai, Surian, Suritz, D Banyan, Bay Residence, etc.
5.
A
self-learned investor by every means necessary, reading all about it from limited resources back then and attending every property related event and asking anyone who would spare their time with him. He now spares his own time inspiring others interested in starting and building their own investment journey.
Do inform us of water and power disruptions Please let us know in advanced if there are to be any water or power disruptions. Let me tell you, a lot of places have these notices, but they are usually put up just a few days before it’s going to happen. Please, let us know at least 2 weeks before so that we can be better prepared.
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63
NEWS
EPF to Bank on Private Market Investments Malaysia’s Employees’
BK
he told reporters.
Provident Fund (EPF) will continue to spend wisely the
In addition, the fund places
money entrusted to it by the
more importance on long-
people, according to its CEO
term sustainable returns
Datuk Shahril Ridza Ridzuan,
rather than short-term gains,
reported the New Straits
Shahril noted.
Times.
In spite of the issues in 2016,
“We will remain prudent in
the EPF has also been able
our expenses as indicated
to consistently surpass its
by the consistency in our
two targets of achieving 2.5
key financial ratios including
percent nominal dividend per
the cost of the asset under
annum and a minimum real
management of 0.25 percent,
dividend of two percent on a
cost to the gross income of
rolling three-year basis.
2.56 percent and cost to a total asset of 0.16 percent,”
Last year, the fund posted a
The fund places more importance on long-term sustainable returns rather than short-term gains
gross investment income of
figure since 1951 when the
RM46.56 billion. Not only is
EPF was founded, he said,
this 5.25 percent higher than
adding that it has increased
the RM44.23 billion recorded
by 11 percent on a yearly
in 2015, this is also the best
basis since 2001.
Mah Sing Introduces New Logo, Tagline and Vision
WM
Kuala Lumpur, recently.
of its group-wide transformation programme and marks the next phase of Mah Sing’s journey in the property industry.
According to a press release
Meanwhile, the group also
on Monday (Feb 27), the
introduced its new tagline:
new logo is the company’s
“Reinvent Spaces. Enhance
third since its inception and
Life.” This is in line with
symbolises Mah Sing’s identity
Mah Sing’s aims to raise the
vision, the group will be
The renovations will be
— a company that strives for
bar by recreating spaces
focusing on empowering its
completed in mid-2017.
excellence in product delivery,
with innovative design and
staff towards personal and
quality, customer service and
functionality to improve and
professional growth.
customer care.
add value to the quality of life
Mah Sing Group Bhd (Mah Sing) unveiled its new corporate logo and tagline during the company’s annual dinner at the Majestic Hotel,
Designed by awardwinning Australian brand consultant Traffic, the new logo is in vibrant red, which represents luck, courage, passion and happiness. The name “Mah Sing” was also retained as a significant amount of goodwill and trust have been associated with the name for more than 50 years. The launch of the company’s new logo is the visual representation 64
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Leong: We want to be a meaningful corporation for now and the future
“We understand the importance of our staffs’
of the community.
The company introduced its
well-being in the company.
POWER statement, which
We have a high percentage
Mah Sing group managing
stands for Performance
of millennials in our
director Tan Sri Leong Hoy
First, Ownership, Well-
workforce and we believe
Kum said: “As we put on a
Being, Empowerment
that addressing their
new look, we rethink our
and Resourcefulness
needs is important. We are
purpose. Our tagline is
— a continuous learning
transforming our company
‘Reinvent Spaces. Enhance
programme to train staff and
so that both new and
Life’. We want to be a
uphold the company’s values.
experienced staff will be able
meaningful corporation for
to achieve a better personal
now and the future. Now, in
To create a more vibrant
everything we do, we want to
environment, Mah Sing is
firstly, enhance life. We want
renovating its headquarters in
“With the launch of our new
to ensure all live well; our
Wisma Mah Sing, Jalan Sungai
logo, tagline and vision, we
customers, our people and
Besi, which will be known as
are instilling a new mindset
our stakeholders.”
MS@Work to encourage a
that will permeate everything
more innovative mindset and
we do,” Leong added.
In order to achieve its new
conducive work environment.
and career growth.
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65
NEWS
Development for All Districts Including Semporna
SB
The state government is
Musa said many of his officers
appointed
committed to ensuring all
were from Semporna “and I
state leaders
districts across the state and
enjoy very good relations with
to head federal
the people continue to enjoy
Tun Sakaran Dandai” The Chief
ministries.
development, said Datuk Seri
Minister added that there are
Musa Haji Aman.
some 34 ethnic groups in the
“The Prime
state and that all of them were
Minister
given the same opportunities.
appreciates the
The Chief Minister gave his assurance that no one would be left behind.
support of the “In Sabah, we respect one
people of Sabah,”
Semporna. (Photo: Keri Mau)
Bugaya Hall.
another, we attend all festivities “And I never forget Semporna
he said. Meanwhile, Musa said
and we help each other. We
and this district had never
as Chief Minister he would
live in peace and harmony.
been treated like a step-child
do his level to bring more
“Do not raise issues of race
because as Chief Minister I
development to Semporna for
because we always take care of
Datuk Yahya Hussin and
visit all the districts to serve
the benefit of the people.
each other,” he added. “I will look into the needs of the
Kiah; Local Government and
The Chief Minister also said
Housing Minister Datuk Haji
“I never had a problem
people in Semporna including
Sabah is in good hands and
their applications for land,” he
Hajiji Mohd Noor; Community
with Semporna,” Musa
that the state has never been
Development and Consumer
said when officiating at the
said. Earlier during his visit to
neglected by the federal
Semporna, the Chief Minister
Affairs Minister Datuk Jainab
groundbreaking ceremony for
government.
attended a development
Ahmad, former Head of State
the people.
a new market in Semporna on
Also present yesterday were Deputy Chief Ministers Tan Sri Joseph Pairin Kitingan, Datuk Raymond Tan Shu
briefing which was conducted
Tun Sakaran Dandai, Senallang
Tuesday, February 28. Some
Musa also said Prime Minister
Assemblyman Datuk Nasir Tun
10,000 people were present at
by district officer Dr Chacho
Datuk Seri Najib Tun Razak
Bullah, visited the sports
Sakaran, State Secretary Tan
the event.
provided huge allocations
complex and had lunch with
Sri Sukarti Wakiman and local
every year for Sabah and had
some 2,000 teachers at the
leaders.
Expensive Properties Lead to a Homeless Generation Unless the government
into upscale homes and other
raises the supply of low-cost
types of properties.
houses significantly, a large number of Malaysians would
Previously, news broke out
be unable to get a roof over
last November that PR1MA
their heads.
has formed a joint venture with MKH Bhd to build an
“The threat of a homeless
integrated development in
generation, where up to 80
Kajang with high-end real
percent of the population
estate.
cannot afford to buy their
WM
should provide more incentives, like reducing the taxes, the cost of land and the site conversion premiums.
to impact genuine buyers,
To control the sharp rise in home prices, the authorities could also impose more stringent cooling measures, like raising stamp duty and the real property gains tax (RPGT).
For the RPGT, the government
who typically can only afford to buy one or two houses. “It will, however, discourage property speculators.”
may consider a 30 percent levy on the third and subsequent property bought if it’s sold within 10 years.
own properties, is beginning
Chang also noted that in
to take root,” according to
certain areas, only half of the
the National House Buyers
land acquired by PR1MA are
Association’s (HBA) Secretary-
being used for affordable
General Chang Kim Loong,
housing, while the other
In particular, he proposed
percent in taxes, 20 percent
adding that affordable
50 percent are allocated
that the stamp duty for the
if it’s sold in four years and 15
housing is already out of
for commercial and luxury
third purchase should be
percent if it’s disposed within
reach for even middle-income
properties.
increased to five percent, 7.5
five years, but the vendor
percent for the fourth, and
is exempt from RPGT if the
10 percent for subsequent
house changed hands after
transactions.
it was purchased in six years
households. Moreover, he urged PR1MA Corporation to focus primarily on constructing low-cost houses, instead of venturing
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To encourage property developers to construct more low-cost residences, he suggested that the federal government
At present, people who sell a home within three years of buying it need to pay 30
and more. Chang explained that the higher stamp duty is unlikely
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67
HOT TOPIC
Cost effective house ideas for affordable housing Building homes need not always be difficult. An ounce of creativity can save more than its weight in cash. Thinking outside the box is the key. With the current challenging economy, the rapid increase in population and our unsustainable ways of living have forced people to consider more affordable and more sustainable ways to live. Words by Property Hunter
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www.PropertyHunter.com.my
Affordable, low-cost homes are an idea that needs to be addressed and put into focus. For those with low and middle income families, not only is housing their single biggest expenditure, but their house is also their greatest source of wealth. With the current global economic challenges, people are also starting to question about what they spend on and what is really needed. As lifestyle habits are changing, so are the demands and trends in housing. There is now a realisation that there is no reason a house should have to cost so much. The mindset now is that a simple home can be built within a specific budget and still be beautiful, and meet the needs of the family it shelters. Through clever and innovative designs, many of today’s low-cost homes are often superior in strength, durability, and safety compared to the current cookie cutter houses available but the code just isn’t written to accommodate different materials than wood or brick. Here are some examples of affordable and eco-friendly alternative housing that you can turn into your own...
2
Tiny Houses Tiny houses are stirring a lot of interest these days. The realisation of unused space, the need for unnecessary and unused things and the high cost that comes with living in the city centre has forced many to rethink about what a home should be. A tiny house is defined as any house that is less than 600-square feet, but some are a lot smaller than that.
1
1
Shipping Containers Shipping containers cost a little bit more than some of the other methods, however, their durability more than makes up for the cost. People are building actual homes from these containers. It’s called cargo container architecture.
Some tiny homes are built on wheels, both to make them portable and to avoid building codes in some areas. There are thousands of ways to design a tiny house, and more are being created every day. Tiny low-cost homes are perfect for singles, and couples who want to take on a minimalist philosophy. Some families with children even take on the tiny house concept. Smaller homes are easy on the utilities and are perfect for off-the-grid applications because they use so much less electricity.
Containers are meant to be tough. They are built to handle heavy loads, harsh climate conditions, and are handled by cranes. It can also be easily stacked to form multi-story homes or apartments. These sturdy houses can be welded together and built in a very short time, and handle just about anything that is thrown at them.
2 www.PropertyHunter.com.my
69
HOT TOPIC
3
3
Modular or Manufactured Homes Buying a new or used manufactured home may not be as inexpensive as some options but it is still less expensive than the cost of the average home. These houses are residences built in a controlled factory environment in sections or modules, and then transported to the construction site. There,
4
5
6
5
Pop-up House A pop-up house is affordable to build thanks to inexpensive materials and quick assembly. It continues to be affordable over time due to its low energy consumption. Thanks to the simplicity of the concept (it’s like building a Lego house), building a house is an enjoyable and quick experience: in
they are installed on permanent foundations and completed
only two weeks the frame of the house with the windows
by professional installers.
can be built.
Modular homes can reduce construction time by more than
The structure is simple to build and comprises a spruce
35 percent, getting you into your new home faster so you
wood frame, laminate veneer wooden floor, and expanded
can enjoy it longer. Site-built homes can take many weeks to
polystyrene insulation blocks, and everything is held
complete, while modular homes are assembled on site and
together using wood screws. Pop-up houses have been
usually finished within a week.
commercially available since April 2015 in France and some
4
Prefabricated Homes Prefabrication has proved its worth in the past and is ideal for creating the sustainable, low-cost housing that many countries need today. The homes of the future will not only be more sustainable and affordable—they will also be much faster to build. Prefab architecture is paving the way, and now there’s
6
European countries.
Pallet House Pallets are cheap or free to find, so it’s no wonder they have become popular materials in alternative building. Your house won’t be a fortress, but it would certainly work for temporary survival. It’s important to find a surplus of
more variety than ever to choose from. From a green-roofed
high-quality wooden pallets that have been chemically
hobbit home to a modular net-zero abode, these eco-friendly
treated to avoid bacteria, insects, and fungus.
dream homes that can be snapped together in three days flat (or less!) almost anywhere in the world.
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8
7 8 9
Converted School Buses If you’ve watched TV, then you’ve probably heard of people taking old school and church buses and turning them into their new tiny houses. From the outside, it will look like a regular well-restored boxcar, but its interior is very stylish and modern. Well, you could do the same. It wouldn’t be much
9
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Bamboo House Bamboo is one of the most amazingly versatile and sustainable building materials available. It grows remarkably fast and in a wide range of climates. Moreover, a bamboo house design is a type of building which is believed to be the most resistant to shocks of the earthquake
different than refurbishing an old RV. Built for resiliency, a bamboo house is typically elevated
Tree houses
on precast concrete pillars to prevent the risks of floods.
The kid in all of us has dreamed of having an amazing
ground floor if they wish to. A split-roof and operable shutters
treehouse, complete with all the necessities of living. Some amazing (and hidden) tree houses can be made with limited budget and training. One of the great things about tree houses is that you can scrounge for them. The most important thing is to make sure to select a sheltered location and the right trees, with healthy roots and no disease.
Straw Bale Houses
However, families would also have the choice in filling the allow natural ventilation to flow through the home, while the angled and overhanging canopies reduces heat gain. Naturally, bamboos can save the fresh night air and then release it when it’s exposed by the heat of the sunlight. The world would be a better place if housing was made more accessible and affordable for everyone. But the reality is, the supply and demand have made it too expensive for most, at least to the size of house that we’re accustomed to.
Building a straw bale and plaster house is a low-cost and environmentally friendly way to create a home. This guide
If houses were smaller, more efficient and easier to build,
covers the materials and methods you might use to build a
this reality could change. Changing the size of our houses
straw bale house, a house that can last hundreds of years, is
requires us to change the way we perceive the definition
energy efficient and is cheap to maintain. For simplicity, this
of home; maybe simplifying the way we live, revaluating
article will not include instruction on the installation of services
the importance of material possessions and reducing the
such as natural gas, electricity or water and sewer: It covers
consumption of goods. It’s a tall order for a society that
only the details about how to build the shell.
uses designer labels as the status-quo and sees huge sprawling mansions as a measure of success. www.PropertyHunter.com.my
71
NEWS
Developers Seek Extension to Complete Projects
SB
Developers plan to seek an
to put in writing to the Local
a project in the city where the
an Order of Certiorari to 104
extension on the completion
Government and Housing
power supply was only made
house buyers, quashing the
period of projects from 36
Minister more transparently
available to the developer
Urban Well-being, Housing
months to over 40 months to
and get an extension on the
after 18 months of project
and Local Government
avoid late delivery.
period of completion,” he said.
commencement.
(UWHLG) Minister’s decision
The move is in view of the
The existing practice on the
Citing it was easy for
challenging construction
period of completion is set
for vacant possession of a
developers in the peninsula
environment and the court
at 24 months for low-rise
condominium development in
to obtain an extension of time
battle won by the house
developments, 36 months
Kuala Lumpur, and thus ruled
(EOT), he said there had only
buyers in demanding
for high-rise but according to
that the EOT issued by the
been two cases in Sabah with
developers to honour
Chew, this old practice was no
housing controller there void.
one in Sandakan and one in
Liquidated Ascertain Damages
longer relevant these days.
the city, recorded recently.
“There had been more
“EOT in the peninsula is stated
complications especially the
claim as stipulated in the Sales
clearly and transparently by
Sabah Housing and Real
construction of high-rise
and Purchase Agreement
the Housing Controller there,
Estate Developers Association
mixed-use developments such
(SPA).
but the Housing Controller in
(Shareda) Vice President Chew
as developers being required
Sabah only approves this on a
Late delivery claim is clearly
Shang Hai said although the
to build multi-storey car parks
case by case basis.
spelt out in the SPA, 10
law differs in Sabah and in
or basement carparks.
to amend the time period
claim on the late completion of projects in the peninsula.
West Malaysia, a committee
This means the developer had to honour the buyers’ LAD
percent per annum of the “The ones here given the EOT
purchase price and on the
would be set up to study the
“But the biggest factor causing
was on the grounds that the
other hand 10 per cent
implication of the court cases
late completion is due to
developers had to build multi-
the inconsistency of power
interest of the purchase price
there.
storey car parks,” he said. On
supply,” said Chew, adding
to be paid to developers if
Monday, the appellate court
that there was one instance of
buyers are late in making
in Petaling Jaya had granted
progress payment.
“The study will be used for us
Kinsabina Launches Triconic Tower
SB
Kinsabina launched its latest
“The company’s strategy is
The 19-storey condo units are
“The tenant will have the
project, the Triconic Tower, in
to target shifting consumer
sized at 1,000 sq ft and 1,200
privilege of a ‘ready’ bathroom
Penampang on Feb 25-26.
behaviour and purchasing
sq ft with 3 bedrooms and 2
to move into with full set of
patterns with a complementary A discount of RM3,000 was
bathrooms alongside upscale
bathroom cabinets, fittings and
mix of grocery stores, eateries,
given to first-time house buyers
facilities.
appliances.
health and wellness, education
while a buyer who refers
hubs and entertainment for
Triconic Tower also comprises
“We will be using the Total
the consumers’ convenience.
three levels of car parking lots
Bathroom Solution which
another buyer will get RM2,000 as a referral fee.
provided for the residents
surpasses traditional
“We want to create a single With 768 units planned for
within the curtilage of the
bathrooms whereby this
environment where one can
the condominium project, the
property.
solution emphasises on safety
experience the very best
developer has set its eyes on a contemporary, innovative and
and comfort in the bathroom
from a jacuzzi pool to a gym
Triconic will also be equipped
with features like anti-slip tiles,
under one roof. It’s about
with a gymnasium, steam and
comfortable design to suit the
seamless material for easy
convenience in a livable
sauna rooms, changing rooms,
needs of urban dwellers.
cleaning utilising the lotus-
community,” he said.
jacuzzi pools and outdoor table
leaf-inspired bionic surface
tennis area, a separate steam
technology, quick drying
and sauna rooms.
materials and functional usage
Kinsabina Chief Executive
All units are designed to
Officer Datuk Francis Goh said
capture and maximise the
he understood the need of
surrounding views. The three
A tuition centre and a
buyers and hence, will continue
blocks will have a swimming
convenience store, function
to build more condominiums
pool, a children’s playground,
hall, indoor game room,
to meet the ever-changing
badminton court, basketball
reading lounge and children’s
demands of the consumers.
court, courtyard garden and a
playroom are also included.
pond with gazebo.
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of space,” he said.
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73
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HOT TOPIC
Overview of a
Sub-Sale Transaction Words by Wilson Lim, Sabahan Chung & Jason Lee
A “Sub-Sale Transaction” means buying a property from an individual (including a company) other than the developer.
E
very sub-sale transaction is unique and is usually regarded to be more complicated than a direct purchase of an under-construction property from the developer. Generally, it is because:
1. The parties are at liberty to negotiate and agree to the terms and conditions of the transaction; 2. Every sub-sale transaction is different [for example: (a) The transaction may or may not involve payment of the Real Property Gain Tax (RPGT); (b) The transaction may or may not involve redemption from the Seller’s existing financier; (c) The Purchaser may or may not obtain bank loan to part finance the purchase] Due to the ever changing nature and character of a sub-sale transaction, it is important to understand the general structure and steps involved.
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75
HOT TOPIC
The flowchart below seeks to give an overview of a sub-sale transaction Pay Earnest Deposit and Confirm Intention to Sell And Purchase
1
Redemption
4
The sub-sale transaction will involve redeeming the
Usually, once the Seller agrees to sell and the Purchaser
property from the Seller’s Bank if the Seller still has
agrees to purchase the property:
existing loan(s) with the Bank where the Property is
1. The Purchaser will pay an earnest deposit, usually
being charged (for individual title property) or assigned
(for master title property) as security for the said loan(s).
2% of the Purchase Price, to the Real Estate Agency (REA) or appointed lawyer, whom will hold the earnest
Generally, the Seller will utilise the purchase price paid by
deposit as the stakeholder for the parties; and
the Purchaser to settle the Seller’s existing loan(s).
2. The parties will confirm their respective offer and/ or acceptance to purchase or sell by signing an
After full payment of the Seller’s existing loan(s), the Seller shall cause the Bank to:
Offer to Purchase (OTP) / Agreement to Sell (ATS) or other similar documents prepared by the REA or the
1. Discharge its interest on the said property by an instrument called the Satisfaction of Charge (for
appointed lawyer.
individual title property); or
Sale and Purchase Agreement (SPA)
2
Here, the parties will sign the SPA and other related documents prepared by the appointed lawyer. Before signing the SPA, it is important:
1. For the Purchaser to verify if the Seller is the rightful owner of the property;
2. For the parties to verify if the details and description of the property stated in the SPA corresponds with the one which the Seller intends to sell and the one which the Purchaser intends to buy; 3. For the parties to verify and confirm the purchase price and the payment method stated in the SPA; 4. For the parties to understand their respective duties, obligations and potential liabilities under the SPA (for example, the liability to pay for liquidated damages in the event there is late payment or late delivery of vacant possession).
Loan Documentations
3
2. Reassign the rights, title, interest and benefits in and to the property and the SPA back to the Seller by an instrument called the Deed of Receipt and Reassignment (for master title property).
5
Disbursement by Bank and Full Payment The Purchaser needs to make full payment of the
purchase price within the time frame stated in the SPA which would include getting the Purchaser’s Bank to
disburse the full loan within the said time frame too.
In most cases, the Purchaser will risk paying late payment interest to the Seller if the Purchaser fails to make full payment within the said time frame.
6
Handing Over After full payment has been made, the Seller shall deliver the vacant possession of the property to the Purchaser within the time frame stated in the SPA.
Generally, the Purchaser will pay the purchase price by: 1. The Purchaser’s own money that is readily available; or 2. The assistance of a loan granted by a financial institution. If the Purchaser does obtain a loan from a financial
institution to partly finance the purchase, the Purchaser is required to execute the necessary loan documentations which will be prepared by the lawyer appointed by the financial institution.
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This article is intended for general awareness purposes only and should not amount to any form of advice. While every effort has been made to ensure the accuracy and correctness of the calculations, contents, information or data contained herein, the writer accepts no liability for loss or damage suffered or incurred by anyone as a result of the reliance on this article or howsoever arising from the use of the information or material set out herein.
www.PropertyHunter.com.my
77
NEWS
Titijaya, China Railway Enters East Malaysia Titijaya Land Berhad is
sector to further enhance
pleased to announce that the
the built quality and project
Company has today entered
implementation. In turn, CREC
into a Framework Agreement
stands to tap into the growing
(“FA”) with CREC Development
property market in Sabah
(M) Sdn Bhd (“CRECD”) to
through collaborations with
collaborate on a property
Titijaya. With the strong CREC
development project known
presence in China, The Shore
as The Shore, Kota Kinabalu.
shall attract more investors
A filing with Bursa Malaysia today (Feb 27) shows that the collaboration between Titijaya and CRECD records the provisional intention of
from China, particularly those who favour the commercial and residential property industry, as well as hospitality property investment.”
SB
Mr. Wang Youping, Managing Director China Railway Engineering Corporation (M) Sdn Bhd, Mr. Zhao Xiaoping, General Manager China Railway Engineering Corporation (Sabah) Sdn Bhd, Tan Sri Dato Sri’ Pheng Yin Huah, President The Federation of Chinese Associations Malaysia, Consul-General Chen Peijie, Consulate General People’s Republic of China in Kota Kinabalu, Tan Sri Dato’ Lim Soon Peng, Group Managing Director Titijaya Land Berhad, Y.B. Datuk Seri Panglima Raymond Tan Shu Kiah, Depuy Chief Minister of Sabah, Mr. Lim Poh Yit, Deputy Group Managing Director Titijaya Land Berhad Mr. Philip Lim, Country General Manager Ascott International Management Malaysia, YBhg. Datuk Awang Shah, Chairman Blu Waterfront Development Sdn Bhd, Mr. Ronald Tay, Chief Executive Officer Ascott Residence Trust Management Limited
both parties, with respect to
“Having The Ascott group
the Engineering, Procurement,
on board, whom has deep
Construction and Commission
presence in Greater China, will
Agreement, joint marketing
surely help elevate branding
Acquisition enables Titijaya
government has also been
collaboration for The Shore, as
and augment the future
to immediately gain access
very encouraging in promoting
well as participation in business
development value of The
to 75.44 acres of prime land
its tourism industry to make
opportunity offered by Laksana
Shore, and attracting tourists
within the high-growth and fast
it another major source of
Wawasan Sdn Bhd, beneficial
from Greater China, such as
maturing central development
income for the state, to drive
owner of the Proposed Ascott
Mainland China, Hong Kong &
spine of Sabah. The Land is
its economy. All these efforts
Hotel.
Taiwan”, he added when asked
situated in the prime area of
and catalysts shall certainly
about the signing with The
Sabah, strategically located
help to improve the demand
Ascott Ltd.
near notable local landmarks
for commercial and residential
such as The Bank Negara
properties in Sabah,” he added.
Concurrently, Titijaya also signed a Serviced Residence Management Agreement with
The FA between Titijaya and
The Ascott Ltd (“Ascott”) for The
CREC has signed a share
Shore. Under the agreement,
sale agreement (“SSA”) for
Ascott will manage the serviced
the proposed acquisition of
residence components of The
entire issued share capital
Shore, for a contract period of
(“Proposed Acquisition”) of Sri
15 years.
Komakmur Development Sdn
He added that The Shore takes
use commercial hub docked
Bhd (“SKDSB”) for a purchase
up just 1.82 acres of the total
within a prime waterfront
consideration of RM70.9
75.44 acres of land that the
enclave of Kota Kinabalu. Its
million. SKDSB is the registered
Company has acquired from
unique U-shape design makes
owner of 3 parcels of land
the Vendors. Thus, Titijaya
it the first of its kind within
in Sabah, measuring a total
and CREC are both keen to
the vicinity. With 25 storeys in
of 75.44 acres, which has a
explore the possibilities of
total, the development shall
cumulative market value of
further collaborations in the
comprise 561 units in built-up
RM172.64 million. The Shore is
property development scene in
sizes ranging from 409 sq. ft.
located in Kota Kinabalu, with
Sabah, to establish more new
and 541 sq. ft., with a price tag
a total land area of 1.82 acres.
landmarks in the state.
starting from RM453,000.00.
CREC is one of the world’s largest construction companies, developer of Bandar Malaysia, as well as JV partner with Titijaya on a project in Embassy Row. On the other hand, Ascott is the world’s largest international serviced residence owneroperator with over 26,000 units in key cities around the world. Speaking after the signing of FA with CRECD, Tan Sri Dato’ Lim Soon Peng said: “By entering into the FA, The Shore will be able to leverage on CREC’s strength in the construction
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Building, Royal Malaysia Custom, Bukit Padang Hospital,
Located on the last vacant land
Sabah Golf & Country Club,
in the heart of Kota Kinabalu
among other buildings of local
City Centre, The Shore is a
major government bodies.”
new waterfront premium class hub that entails luxury mixed-
The SSA will be satisfied via
The project is expected to be
internally generated funds and
“Additionally, there are more
completed within 48 months
bank borrowings.
direct flights to Sabah these
from the commencement of
days, which provide greater
construction.
Commenting on the Proposed
connectivity from various
Acquisition, Titijaya Land
countries. This will further
Berhad Group Managing
promote the tourism industry
Director Tan Sri Dato’ Lim Soon
and ignite a vibrant business
Peng said: “This Proposed
environment. The Sabah state
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79
HOT TOPIC
Sustainable City
Is Kota Kinabalu Doing What It Should To Become One? Cities were the promise of a better life, and although today, they are brimmed with energy and dynamism, urbanisation also means negative impacts like traffic congestion, pollution, high living costs and urban decay. Cities of the world take up 4 percent of the earth’s surface, with more than half of the world’s population occupying them. That percentage will only increase by 60 percent by 2030 and by 2050, cities will absorb most of the world’s population, according to the United Nations. Words by Property Hunter
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A
sustainable city or ecocity is a city that is designed with environmental impact in mind. With no definitive definition of what a sustainable city should be, developmental experts agree that a
sustainable city should be able to meet the needs of our current generation without compromising the needs of future generations. As populations grow, communities and societies change; and to minimise negative impacts, long-term planning is needed where attention to its benefits outweigh the costs. By not addressing and tackling these urban issues early, cities could become less sustainable, less productive, and less liveable for its inhabitants. By 2025, Copenhagen will be the first capital city in the world to become carbon neutral. With this ambitious goal and strategic urban planning, the city has adopted a comprehensive and targeted carbon reduction Master Plan. This has allowed Copenhagen to reduce car usage and CO2 emissions whilst improving its resident’s quality of life. There are certain advantages for leaders and environmentally-conscious developers to define and work towards a sustainable city. Strong leadership and meaningful partnerships between the government, private sectors and the citizens is necessary. Lucy Warin, project manager at Future Cities Catapult said, “Smart people make smart cities and any sustainability solution should start and finish with its citizens.� Sure, planning and building for large communities do provide both challenges and opportunities. But for a city to be sustainable, it should be able to: sustain itself with renewable sources of energy; create the smallest ecological footprint; produce the least amount of pollution; to use land efficiently and; convert waste to energy.
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81
I
HOT TOPIC
n the long-term view, this makes
has been overlooked and has often
the theme “Nature Resort City”, we
financial sense as opposed
been an afterthought. By 2022, the
need to ask ourselves: What have
to opting for temporary,
region will see more people living in
we done so far to achieve this? And
inexpensive fixes that also
the cities than in rural areas. This is
have these projects and initiatives
affects the people and the
something that we all need to bring
been successful?
environment. Seeking for long-term
to attention if we want our future
solutions also forces technological
generations to be able to thrive and
Just like Indonesia’s efforts,
innovation. In Indonesia, innovative
live with hope.
engagement and transparency
apps like CityPlan (which allows
between the government and
people to monitor the urban
Kota Kinabalu has the right
KK-ians need to be initiated.
planning and development of
dynamics of becoming a model
Suggestions and ideas need to
the city) and the “trash bank”, a
green city in Asia, with its vast
come from the grassroots – it’s
programme whereby its people
natural surroundings and still
people – instead of the other way
can borrow cash in exchange for
relatively low population. Let’s not
around. After all, it is they who
trash, have given its poorest people
overlook the great opportunities
will benefit greatly from this. And
access to savings and credit, whilst
that can be done before things
when people feel included in the
reducing the waste that pollutes its
get harder to change as the city’s
conversation, and their ideas of
environment and landfills.
population grows.
making their city a better, more
According to the Asian Development
With SEDIA’s (Sabah Economic
people will feel a sense of liberation
Bank, Asian cities have grown faster
Development & Investment
and will likely contribute more
than any other urban areas in the
Opportunity) plans to transform our
towards the city and its economy.
world. Yet, proper urban planning
city into a Green City in-line with
liveable place to live in materialises,
Inward investment is made to the CBD
Communities work together to deal with issues such as crime and security and community links are strong
Public transport is considered a practical alternative to cars
Cultural and social amenities are accessible to all
Public transport is safe and reliable and efficient
Walking and cycling is safe
Key Features of a sustainable city
New homes are energy efficient
Have some areas of open spaces that are safe, accessible and enjoyable
Resources and services in the city are accessible to all
Renewable resources and used instead of non-renewable resources wherever possible
There’s access to affordable housing
Waste is seen as a resource and is recycled
A sustainable city will grow at a sustainable rate and use resources in a sustainable way. 82
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What can we do to turn KK into a sustainable Asian city?
there (just look at the waste that you
each day. Best thing is, the revenue
throw out on a daily basis) that it could
from the Pricing System could be used
be a big business opportunity if done
to fund or maintain Kota Kinabalu’s
properly and systematically. In a lot of
other green infrastructure projects
cities around the world, recycling is a
such as creating more efficient public
source of income for some individuals
transport, building more overhead
and companies that recycle waste
bridges (very important), adding more
Different cities will have different
helps create more job opprotunities.
pedestrian walks and adding more
resources and requirements towards
The municipality should look into
plants and trees around the city. Giving
becoming a green city. What can we
recycling programs like Indoneisa’s
commuters more efficient public
do to make our beloved city KK a more
‘trash banks’ and recycling vending
transport options and walking facilities
sustainable and efficient place to live in?
machines that take in plastic bottles in
without needing a car is definitely a key
exchange for money or gift vouchers.
element to a green city.
1 3 4 2 Create more green spaces There’s scientific proof that having
more interactions with gardens and natural spaces rewards us with a
variety of mental, physical and social
Also, more recycling stations (not bins) around the city and residential areas
are needed for those who actually do want to recycle.
Give incentives and awards for new and old buildings Many cities of the current world just weren’t designed with energy
Introduce Road Pricing Scheme and make public transport more efficient
conservation in mind and buildings
Traffic jams are one of the major
powering buildings. Reducing the
problems in cities and urban
use and wastage of energy should
commuters spend hours each day
be essential to any city’s goals.
being stuck in traffic. We all know too
The common misconception of
well that having too many cars on
energy-efficient buildings is that it’s
the road simultaneously produces
expensive. However, the savings and
significant amounts of unhealthy
environmental benefits throughout the
pollution, not to mention affects
lifetime of a building far exceeds the
mental health and productivity. Road
initial costs to build. The municipality
Pricing is one way to manage traffic
or state government can take a few
growth. In Singapore, about 65% of
approaches and innitiatives through
commuters now use public transport,
grants, rebates and tax incentives.
and the ERP (Electronic Road Pricing)
These funding mechanisms are very
system has curbed traffic significantly
Bring more awareness into recycling
useful for projects with steep upfront
and has managed road space for the
expenses. Also, giving awards for
highest productive capacity, cutting
Recycling reduces the amount of waste
different segments and categories,
congestion, pollution, emissions, and
that goes into Sabah’s landfills, streets,
for things like sustainable design in
fuel use since it was introduced. The
rivers and oceans. It is estimated that
new buildings, energy conservation
annual revenue from the programme
it takes 20-1000 years for plastic bags,
practices for older buildings and
has made them about USD 50 million,
200 years for aluminium cans and
green efforts for small companies
creating a net profit of USD 40 million
about 500 years for plastic bottles
and businesses will help to facilitate
every year and the revenue is used
to decompose. Which is more than
and encourage developers, tenants,
for construction and maintenance of
our own lifetime! Also, when items
management and even individuals to
roads and public transport.
are recycled, as much as 95% of
engage in positive, healthy practise and
With the introduction of the car sharing
energy used is saved compared to
dialogue.
apps Uber and Grab last year and with
manufacturing a new one. In addition
the BRT (Bus Rapid Transit) anticipated
to offering environmental benefits,
to complete in 2020 in Kota Kinabalu,
it can also help stimulate economic
all these components should be able to
growth. There is so much waste out
help ease our traffic that’s on the rise
benefits. It also helps to reduce
crime and pollution. City planners,
governments and public citizens in
many cities are starting to appreciate
the importance and benefits of having green spaces to improve quality of
life in urban areas. One idea is to turn
the former Land & Survey building – a
pre-war building that was destroyed by a fire in the 90s – into a small city park. By keeping the remains and pillars of the old foundation and putting
plants and trees and a few benches
for people to sit would give the place a
new life and give this historical building the proper homage it deserves.
account for about 40% carbon dioxide emissions from heating, cooling and
What do you think about these ideas and do you think they can be easily applied here? What are your own ideas to make Kota Kinabalu more sustainable?
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83
NEWS
Donggongon to Be a More Happening Place
SB
Several developments have
to the Penampang General
truckers while the
been tipped to take shape
Market and we aim to make
other half will be for
in Penampang soon. A food
Donggongon a hub. “The night
the night market
truck site, a night market
market and the business on
traders, with the
and a jogging track are on
wheels will occupy the parking
spaces being able
the cards as the Penampang
space next to the General
to cater to up to
District Office plans to open
Market from 6pm to 11pm,”
15 trucks and 30
these new outlets latest by
she explained.
traders.
April this year.
Development on the Donggongon-Papar stretch
Also present at the swearing-in
Koisun also noted
Koisun said these plans
This comes while Penampang
ceremony were Assistant Local
the draft of a parking by-law
will augur well with the Visit
District Office awaits the
Government and Housing
had also been submitted to
Penampang Year scheduled
gazettement of the newly-
Minister Datuk Joachim
the Local Government and
for 2018 for which numerous
improved local plan.
Gunsalam, Penampang Barisan
Housing Ministry and hoped it
programmes have been
Nasional Chairman Datuk
would be gazetted this year.
planned by the Penampang
District Officer Luvita Koisun
Donald Mojuntin, Penampang
announced these during the
Umno Chief Datuk John
Also on the pipeline, a
swearing-in ceremony of the
Ambrose, Sabah MIC Chairman
proposal has been made
Penampang councillors on
Datuk V. Jothi and Sabah MCA
to set up Penampang’s first
Koisun also announced the
Adviser Senator Datuk Paul
dedicated jogging track from
District Office had generated
Kong and Penampang District
Donggongon along the Jalan
a surplus of RM1.6 million for
Council Chief Executive Officer
Kepayan by-pass road with
the financial year 2016 after
Tang Yang Ming. Joachim was
the turnaround point set at
executing 36 infrastructure
representing the Minister
Padimas Point.
upgrading projects valued at
Monday. The move would make Donggongon more “alive”, she said, “as it is dark and quiet during nightfall, except for just some drinking joints.” “We have identified the location for the night market right next
“We have proposed the project
period.Titingan and other
A portion of the parking area
and hope to get funding for
guests.
will be slotted for the food
this soon,” she said.
SB
The firm building the flyover
He said the firm was working
at the Kolombong Ring Road-
with the Public Works
Jalan Kolam intersection has
Department (PWD) and
installed a drain along the
consultant to come up with a
slope where drivers ascend
permanent solution. Asked the
from the City Mall area,
reasons for the problem, the
following Saturday’s flash
said the design of the flyover
flood.
was partly to blame.
A spokesman for the
“There is a little bend or curve
management said this should
at one point where the water
provide temporary relief for the
collects.
problem created by the run-off. “The road level at this section “We hope the rainwater will be
was designed at a higher level
syphoned away faster, instead
and the run-off tends to pond
of pooling on the slope,” he
in the middle.”
said. He said roadside drainage, “However, we will only be able
including “weep holes” were
to determine the effectiveness
also not part of the flyover’s
of this strategy when it next
design.
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last year.
RM9.709 million in the same
Datuk Seri Hajiji Noor.
Action Taken on the Flyover Run-Off
rains heavily.”
Tourism Action Council set up
Jalan Lintas flyover
“The rainwater is supposed to
The spokesman said the firm
flow down the gradient and
received numerous complaints
away from the flyover.”
from motorists about this.
He was responding to
“We have had several meetings
complaints from two drivers,
with PWD officers on how best
one from Penampang the
to address this problem.
other from Kolombong, about the traffic hazards posed
“The agency’s director
by the water pooling on the
personally inspected the
flyover.
trouble spot on the flyover at the end February.”
A Department spokesman said
“Drivers risk losing control
JUDY of Kolombong bemoaned
the agency was in the process
and turning turtle when their
the jam on the flyover during a
of studying the problem.
vehicles impact on the pool,
downpour on a recent Friday
Judy decried the congestion
especially if they are speeding
evening.
on the flyover as making a
“We hope to do away with the
mockery of the structure.
up the incline,” he said.
ponding once and for all once
Lintas area that night.
“Two Kancils broke down in the
the other side of the flyover
“Alternatively, those behind
single lane going up the flyover
“Isn’t the flyover meant to ease
is completed by the middle
might wind up colliding with
from the City Mall area,” she
the traffic jam which forms at
of the year,” he said. “In the
oncoming traffic because of
said.
the intersection?
meantime, our staff will keep
the water splashed onto their
an eye on this situation.”
windscreen.” He said he had
“Apparently their engines had
“Instead, we now have a
noticed the water pooling on
become water-logged at the
situation with bumper to
the flyover on and off since
section where the rain-water
bumper congestion on the
traffic was first diverted onto
was ponding on the structure.”
flyover and the main roads at
the structure in December.
She said it took her 45 minutes
the bottom.”
TONY of Penampang said accidents could easily occur at the place where the rain-water collected on the flyover.
to travel from City Mall to the
Pan Borneo Highway to Change State’s Landscape Development Prime Minister Datuk Seri
Highway project in Sabah
Najib Tun Razak gave his
would be an overview of
assurance that the toll-
history as it would change the
free Pan Borneo Highway
landscape of development
network in Sabah will ease
and communication network
access to the oil and gas
throughout the State.
SB
economic corridor area between Sipitang and
“Sabah will get a complete
Kimanis.
toll-free highway network at an overall cost of more than
He said the Public Works
RM16 billion in five years.
Department, which had a high standard, would ensure this.
Development on the Donggongon-Papar stretch
This is the contribution of the
jobs for the people in Sabah
It was part of the first phase of
Federal Government. I want
and Sarawak as well as
the 706km Pan Borneo mega
“This is not a timber or
to say this is not over yet. If
business opportunities for
project starting from Sindumin
kampung road. This is a
the financial situation permits,
local contractors.
to Kudat on the west coast
world-class highway. This is
we will give more allocations
my commitment as Prime
for highway development for
Minister,” he said in his speech
Sabah. We want Sabah to
when launching the Sabah Pan
change because the State has
Borneo project in Sindumin on
a high potential,” he said.
Saturday (March 4). “The people of Sabah also Also present were Chief
want to enjoy highways. Right?
Minister Datuk Seri Musa
Surely, it is not only for the
Aman, Deputy Chief Minister
people of the peninsula.
Tan Sri Joseph Pairin Kitingan, who is also State
And, the reality is, today is a
Infrastructural Development
historical occasion for Sabah
Minister; Work Minister Datuk
because the first kilometre
Seri Fadillah Yusuf and his
of the Pan Borneo Highway
deputy Datuk Rosnah Abdul
for this State starts from
and from Ranau to Sandakan, “I will also ensure only local
Lahad Datu and Tawau on the
contractors will work on the
east coast.
Pan Borneo Highway project. The project would change the Despite the joint venture with
landscape of Sipitang district,
foreign contractors, the main
which would experience a
jobs must be given to locals,”
transformation when the
he said.
Pan Borneo Highway project
Najib also launched the groundbreaking ceremony for a project to upgrade the 28.4km Sindumin-Kampung
was fully completed and to simultaneously become the catalyst in the development of Sabah.
Melalia Road, Sipitang at a
Najib also launched the Pan
cost of RM600 million. The
Borneo Highway projects in
Rashid Shirlin.
Sindumin,” he said.
project involved upgrading the
Kampung Andus, Papar for
existing two-lane road to four-
Papar-Donggongon Road;
Najib was also determined to
At the same time, Najib also
lane and would entail building
Tawau-Semporna Road (5km);
ensure that the Pan Borneo
said the Pan Borneo Highway
two-tiered interchanges and
and Lahad Datu Bypass (7km)
project could create 400,000
three bridges.
last year.we do,” Leong added. www.PropertyHunter.com.my
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HOT TOPIC
Do Green Property Managers Attract More Considerate Residents? Imagine a world where every home is powered by the sun and its water supply only comes from rain. Solar power and rainwater harvesting might not be feasible and are expensive, but today’s prospective young tenants are more eco-conscious and are looking for apartments and condos that provide eco-friendly facilities for a greener, greater community. As property managers, what else can you do to green your property? Words by Property Hunter
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HOT TOPIC
G
oing green has become increasingly
combination of trees, shrubs and perennial plants can
attractive and trendy as the people
also reduce maintenance and require less watering.
today are more conscious about the
For food production, consider developing a space for
environment and about living the green habits. The advantages are there for
all to see - not only are these practices better for the environment, it also lengthens the span of the property and is more cost efficient in the long run. Today, many property managers are experiencing the benefits of going green. They understand the environmental benefits, but they also realize that they can save a significant amount of money. If you’ve been in management for many years, you’ve likely already addressed the main essentials of your building’s ecofriendly performance. However, it is imperative to
community gardens. It not only encourages residents to
address the little things that can truly make a green
spend time outside but it also encourages them to care
community, green.
for outdoor areas around their building and to engage and socialize with their neighbours. Perhaps also have
Boosting your property’s energy efficiency not only
a composting bin or programme for residents. It is
makes it more desirable and saves money for the
essential to make sure that the landscape is maintained
renters who live there, but makes the property a better
properly.
investment. Making your home green can reduce waste and minimize pollutants while saving you money on your
Switch to LED or CFL Lights
utility bills and attracts more responsible renters. For both property managers and prospective tenants/ residents, living a “green” lifestyle can have benefits on both on your personal life and the planet. Sustainable energy and green products can benefit your wallet, health, and your neighbours. Going green is beneficial monetarily and can improve your overall quality of life.
GUIDE TO GOING GREEN Be an expert in “going green”, but then also be a good teacher as well. Educate your tenants, neighbours and friends on how to keep themselves and the property they are renting as healthy as possible. Here are some
Reduce the environmental footprint by replacing all the
small steps you can take to make your community
light bulbs with LED and CFL bulbs, which uses 75% less
greener.
energy and lasts 10 to 25 times longer, compared to the
Green Landscaping
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standard incandescent bulbs. Both LED and CFL lights emit less heat, thus directly saves you more energy.
To reduce the use of water and chemicals, it’s best to
Installing motion-sensor lights in non-essential areas
develop a high-performance landscape. You can provide
for both inside and outside of the building can also save
sufficient soil and appropriate selection to minimize
you valuable money and it also means that the lights will
use of fertilizer, water, and maintenance. Planting a
only come on when it needs too.
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Create a Recycling Station
Choose Low-VOC Products
Make sure you have a designated recycling area with
If you’re planning to renovate your property or painting
clearly labelled prints; paper, glass, plastic and metal
walls in a new property, choose low-Volatile Organic Compounds (VOC) products that will reduce your environmental impact and improve your indoor air quality.
Choose Energy-Efficient Products Look for new appliances that have the Energy Star label, because they use around 15% less energy than non-labelled appliances. Appliances like refrigerators, ovens, and washing machines. Tenants love using these energy-efficient appliances because it costs them less money on their utility bills and produce less carbon footprint. and conduct more rigorous checks on the bins to increase recycling habits in your area. This itself, will lead
Find Durable Products
to a healthier environment and healthier lifestyle.
When you’re purchasing goods for your property,
Repair Whenever Possible
look for affordability and durability. An investment in
Whether it’s a porch railing or a dent to the roof, if you have a choice between repairing or replacing it, try to
an appliance which is, for example, RM300 - RM400 cheaper is not much of an investment if the product breaks in less than 10 years instead of its 15 years repair it first. Create a regular maintenance program to
guaranteed lifespan. Look at the complete life cycle of
take care of the surrounding of your properties so that
the product before purchasing it.
any small problems that comes from the tenants can be solved easily. Going green can save you money in
energy is regarded a clean renewable
Many people today, especially those
a variety of ways in the long run. For
energy source, with great potential
concerned with climate change, care
example, buying a Hybrid car will save
for environment-friendly electricity
about the advantages of sustainability
you money in fuel costs and will get you a
generation. Obtain a couple of estimates
and conservation. If you’re able to tell
special discount as per the Government’s
from solar companies to see how feasible
potential tenants that your rental units
incentives for hybrid cars. And Hybrid cars
it would be to have them installed.
meet energy-saving criteria, you’re likely to
are becoming increasingly popular among
To strengthen the development of
find this an important attraction to a more
Malaysian drivers!
green technology, the Government will
caring group.
continue to provide incentives in the Sure, the initial cost of installing solar
form of investment tax allowance for the
Make your property greener for a better
panels in your home is costly, but in
purchase of green technology assets
community!
the long run, it will actually save you
and income tax exemption for the use of
thousands in home energy costs. Solar
green technology services and system. www.PropertyHunter.com.my
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NEWS
Developers Urged to Comply With Housing Agreements Developers are urged to
Wong also pointed out that
provide quality housing as
with the active participation
well as to be courteous at
of Sarawak’s Housing Claims
meeting their stated project
Tribunal, home buyers are
delivery timeline, as stated
now more aware of their rights
in their sales and purchase
when it comes to their housing
agreement with the buyers.
purchases.
Sarawak Housing and
“Therefore, developers
Real Estate Developers’
should comply to what has
Association’s (SHEDA)
been stated in the sales and
president Joseph Wong said
purchase agreement. We
this during a press conference
hope that developers will build
following the official launch
quality houses and deliver
of the sale of booths for the
them on time,” he said.
upcoming SHEDA Property Expo 2017. “I urge developers to be more courteous in delivering their housing projects on time as well as build according to the specs as agreed in the sales and purchase agreement. “The quality of the houses should meet the regulated standard. House purchasers now are more observant about their purchases,” he said.
Meanwhile, on the current demand in housing properties, SHEDA Property Expo 2017, organising chairman SR Gary Kho Thong How, who is also senior manager of CMS Property Development Sdn Bhd, also pointed out that based on research by Institute Rakyat, Sarawak suffers from a combination of weak
SW
household incomes and house prices that are far higher than the average household income could afford. He noted that developers would be compelled to build according to what the market demands and what buyers could afford rather than what developers prefer.
to brief SHEDA members on the developments in the property industry, especially on issues relating to the housing development industry. During the forum, Wong had also discussed SHEDA’s e-library, the housing housing development
developers to use the expo
regulations and more.
strategically to capture the imagination of investors and
He also briefed the members
home buyers by creating a
on affordable housings which
platform to boost market
SHEDA had proposed to the
presence and brand
state government.
awareness, as well as to share details of up and coming developments which
He hoped he could receive the outcome of the proposal from
Sarawakians can anticipate.
the state government, soon.
The launch of this expo on
could be approved, SHEDA is
Thursday (February 16) was
committed to building more
also in conjunction with forum
affordable housings for the
and lunch with SHEDA’s
middle-income group
He added, if the proposal
IN
Now, a new law seeks to make
As the latest URA decision
is to enforce a crackdown
these rules more binding
was agreed, National
on Airbnb rentals after
by granting URA officers
Development Minister
legislation was passed to
more power over calling up
Lawrence Wong said
put a final end to short-term
individuals for questioning.
in parliament that the
home subletting in the city.
The officers will also be
government was considering
permitted to demand relevant
a new type of private
documents from home-
residence for which short-
owners, record on-site video
term rentals would be
evidence, and conduct forced
approved.
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state council the opportunity
He, therefore, urged
The Singapore government
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forum was to give SHEDA’s
developers’ ordinance,
Singapore Rules Airbnb Short-Term Rentals Illegal
Under current rulings, set out by the Urban Redevelopment Authority (URA), home-owners in Singapore are banned from renting out their homes for rentals shorter than six months. Those who are found in violation of this measure can be fined up to S$200,000 (approx. £114,000) or sent to jail for up to a year.
president. The purpose of the
entry into suspected homes. He explained: “New ‘Allowing residences to be
residential sites can be sold
used for short stays leads to
with such an approved use,
high turnovers of occupants,
allowing flexibility for short-
and gives rise to nuisance
term rentals. For existing
and safety concerns. Most of
residential buildings, they
us do prefer some familiarity
would then require planning
with the people who live
permission for change of use,
around our homes…’ the URA
and this would be subject to a
wrote in a statement.
set of guidelines which URA is
looking into.”
Airbnb has faced its fair share of controversy globally. Those who support the platform believe that the service allows travellers to rent more affordable accommodation, while others accuse the company of hurting housing markets and threatening safety in residential areas.
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91
APARTMENT FOR SALE
Extracted from PropertyHunter.com.my
*Listing are accurate at the time of print. Kindly contact the respective agents for updates. For more real estate listings, please visit www.propertyhunter.com.my
92
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APARTMENT FOR SALE
Extracted from PropertyHunter.com.my
*Listing are accurate at the time of print. Kindly contact the respective agents for updates. For more real estate listings, please visit www.propertyhunter.com.my www.PropertyHunter.com.my
93
CONDOMINIUM FOR SALE
Extracted from PropertyHunter.com.my
*Listing are accurate at the time of print. Kindly contact the respective agents for updates. For more real estate listings, please visit www.propertyhunter.com.my
94
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CONDOMINIUM FOR SALE
Extracted from PropertyHunter.com.my
*Listing are accurate at the time of print. Kindly contact the respective agents for updates. For more real estate listings, please visit www.propertyhunter.com.my www.PropertyHunter.com.my
95
SEMI-DETACHED FOR SALE
Extracted from PropertyHunter.com.my
*Listing are accurate at the time of print. Kindly contact the respective agents for updates. For more real estate listings, please visit www.propertyhunter.com.my
96
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TERRACE / LINK FOR SALE
Extracted from PropertyHunter.com.my
*Listing are accurate at the time of print. Kindly contact the respective agents for updates. For more real estate listings, please visit www.propertyhunter.com.my www.PropertyHunter.com.my
97
98
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