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Featured Interview
Calvin Chung
The Chinese Connection
HOT TOPIC
MAYA RESIDENCE
PROPENOMY OF BUDGET 2016: Common Sense Applied
Experience Affordable Luxury Living ISSUE
Secondary Property Exhibition MASPEX Kicks- Off for the First Time in Sabah
RM9.50
H1 2015: Overall Malaysia Residential Property Market
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TM
Property Hunter is published by: Maxx Media (S) Sdn Bhd (1043783-T) Kota Kinabalu (HQ) Lot 4, 1st & 2nd Floor, Block A, Heritage Plaza, Jalan Lintas, 88300 Kota Kinabalu, Sabah, Malaysia E: info@maxxmedia.com.my T: +6088 719 787 F: +6088 728 387 Kuala Lumpur (Branch) Block K-5-7, No.2, Jalan Solaris, Solaris Mont Kiara, 50480 Kuala Lumpur E: vincent.chong@ek.com.my T: +603 7490 5707 HP: +6016 806 6009 Office Hours: 9:00am – 6:00pm (Monday – Friday)
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CONTENTS
ISSUE 73
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Cover Story Maya Residence : Experience Affordable Luxury Living
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Featured Interview Calvin Chung : The Chinese Connection
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Featured Property Event Hot In The Market : Low Density Gated & Guarded Terrace House With Clubhouse Facility
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Hot Topic H1 2015: Overall Malaysia Residential Property Market
Special
THE RISE OF SERVICED APARTMENTS
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Featured Property Event Plaza Shell : A New City Skyline In Kota Kinabalu
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East Malaysia Property News
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Featured Property Event Gleneagles Widens Access To Private Healthcare
Special
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Featured Property Event Secondary Property Exhibition MASPEX Kicks-Off for the First Time in Sabah
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Featured Property Event Interactive And Family Oriented Property Exhibition : Maxx Media Closed 2015 With PIHex
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Featured Property Event Iskandar Waterfront City : A Vision To Reinvent Johor Bahru
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Contributor Dr. Daniele Gambero : The Golden Rules For A Profitable Property Investment
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West Malaysia Property News
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International Property News
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Banking And Investment News
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Hot Topic Propenomy of Budget 2016: Common Sense Applied
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Coffee Talk • Not Easy To Make Decision, Easier To Do Nothing? • Sabah Property Market: A Debate Between Minister And SHAREDA
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Sabah Property Listing
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COVER STORY
MAYA RESIDENCE Experience affordable luxury living A Development By Tower Paradise Sdn Bhd
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Aerial view of Maya Residence
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COVER STORY | Maya Residence
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aya Residence promotes connections between people and connections with our surroundings, creating a living environment that goes beyond the comfort of your own private space. Experience the best value for luxury living in a prime area with unparalleled facilities and access to the best. It is centrally located and is only 10 minutes away from all the conveniences the city of KK has to offer.
Maya Residence is a residential condominium with a total of 483 units, surrounded by lush greenery and beautifully designed structures and is suited for professionals and young families that seek daily respite. The three residential blocks are designed like a folded dragon reaching to the sky, and have built-in connectors that can be utilized to suit various leisure and activity pursuits. Every space within the compound is thought through and will be utilized for a specific function. The ground level is gated and guarded, providing ease for residents to play and interact with each other. A unique jogging track that lines the whole perimeter connects the three building blocks - with an outdoor setting that stimulates serenity to promote a healthy and well-balanced lifestyle. The Playhouse, is a delightful area suited for entertaining and socializing by the pool. Three modern tipi shelters offer protection against the sun whilst giving intimacy for residents to hold parties and other lively social settings.
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Artist’s Impression of Play House Top view
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Artist’s Impression of Overall facade
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COVER STORY | Maya Residence
The Tree House, is a quiet retreat of space and tranquility. The three compartments within this area offer a more subdued environment for residents to engage in unobtrusive conversation between friends and family. Gapped wooden slat walls separate the compartments, allowing enough natural light and creating a more relaxed ambience. The Light House, which is elevated between two residential towers, offers spectacular panoramic views. This is the ‘heart’ of Maya Residence, where every space is designated to promote pleasure in sustaining relationships with our family, our neighbours, and with ourselves.
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Sink into one of the hammocks for a quiet read or initiate a friendly game of snooker with a neighbour. The floor to ceiling windows allow ample natural light to penetrate, giving the area a warm cozy ambience by night, or step out onto the deck for an amazing view of the changing colours of the sky. Maya Residence has been specifically designed with greater resistance to earthquakes, and all 483 units will come equipped with pantry units and two air cons, with other special features like a designated bicycle parking space and modern disable-proof circulation without ramps. These will surely draw high demand from city dwellers and young professionals This new, stunning residential property is the latest project by seasoned father-son developers, Datuk Kong Kwok Wah, Ben Kong and friends and will come to you in January 2016.
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Maya Residence at a glance Price Range: RM 496,660 to RM 817,800 Unit Size Range: From 910 sqft to 1,562 sqft Average Price Per SQFT: RM 517 to RM 627 Number Of Units & Levels: Tower A : 208 units, Tower B : 147 units, Tower C : 128 units, Total Units : 483
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Artist Impression of Living Room
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Artist Impression of Light house
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Artist Impression of Dining Room
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Artist Impression of Pool
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nga
g Bu
n Loro ri
aha
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Jalan Istana
TOWER PARADISE SDN BHD (984727-U) KOTA KINABALU Riverson @ Sembulan, Block B2, No.B2-3-01, Lorong Riverson @ Sembulan, Off Jalan Coastal, 88100 Kota Kinabalu, Sabah, Malaysia. Tel : 088 301 088 | Fax : 088 301 008 SANDAKAN Lot 213 & 214, 1st Floor, Block 21, Lorong Prima 8, Prima Square Phase 3, Mile 4, Jalan Utara, 90000 Sandakan, Sabah, Malaysia. P.O.Box 179, 90702 Sandakan, Sabah, Malaysia. Tel : 089 276 633, 089 276 677 (Project) |089 229 333, 089 232 666 (Sales) Fax : 089 276 699 (Project) |089 228 688 (Sales)
The Green Connection
Wisma Wanita
n ra
a Tu lan
Ja
Kian Kok Middle School
Jabatan Cetak Kerajaan
LOCATION MAP
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FEATURED INTERVIEW
The Chinese Connection
Does Sabah Have What It Takes To Penetrate The Chinese Market? China is the world’s second largest economy that offers tremendous potential. But what exactly attracts the Chinese to potentially invest in a country and how favourable is Sabah as an investment opportunity?
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Calvin Chung
Strategic Partner & Advisor for LaurelCap Group
W
e sit down with Calvin Chung, the Strategic Partner & Advisor for LaurelCap Group. Calvin has over 20 years in real estate professional services, including 10 years in China. He is a Registered Valuer and an Estate Agent with the Board of Valuers, Appraisals & Estate Agency, Malaysia. Calvin’s assignments include emerging markets spanning the Far East and South East Asia
The Importance Of The Chinese Market It is important to tap into the massive Chinese market with their significant outflow of outbound real estate investments outside of China, most prominently in the last 5 years. This trend is likely to continue as they seek to preserve and expand their wealth outside of their country. Key underlying factors that currently continue to drive individual Chinese investors to seek alternative avenues and locations outside of China to invest their riches in more stable, attractive and established markets: 1.
Interest rates in China at a record low
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The country’s unpredictable stock market
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Tightened credit conditions from local banks
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Strengthening of the Yuan currency versus the Malaysian Ringgit
For many Chinese families, their regular foreign travels to overseas destinations in recent years have greatly influenced their outlook and understanding on the potential to invest and preserve their wealth for their future outside of China. Back home, over-crowded cities resulting from rural to urban migration, hazardous air quality, lower education, health and city living standards compared to western countries are some of the key factors driving many of the wealthy Chinese to look abroad for better quality of life. The primary challenge is to tap into the broader Chinese market. China is a huge country, so the onus is to broaden the market scope and boundaries, ensuring that marketed properties do reach key cities such as Beijing, Shanghai, Guangzhou and Chengdu, followed by other equally important cities such as Hangzhou, Shenzhen, Chongqing and Dalian. From my understanding so far, the profile of majority Chinese buyers of Malaysian properties are primarily from the South of China. This is understandable, given the geographical proximity of Southern China provinces to Malaysia and perhaps, ancestral affiliations to a certain degree. The other challenge is to determine whether we currently offer the competitive edge and investment quality to attract more Chinese to invest.
Chinese Investment In Malaysia Compared To Other Countries Malaysia is already a well-known holiday destination for the Chinese. When compared to other South East Asian countries, Malaysia can be regarded as one of the top destinations for Chinese investment in recent years given the stable political and trade relationship between the two countries, Malaysia’s geographical proximity to mainland China, its climate and the presence of a Chinese speaking community in the country. The Chinese do tend to naturally gravitate where there is already an established Chinese population. However, the Chinese still do prefer to invest in developed nations such as the U.K., the U.S. and Australia before considering Malaysia. With all their acquired riches in the last decade, the wealthy Chinese have inevitably adopted a greater understanding and taste for quality. Overseas education for their children, immigration opportunities and
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FEATURED INTERVIEW |Calvin Chung
quality of life are the three main reasons for their investment decisions. Well established cities like New York, L.A., Sydney, Melbourne and London offer the type of quality living, status, social and economic vibrancy that meet most Chinese investors’ primary objectives.
Sabah’s potential as a property investment destination Sabah certainly has attractive investment potential because of its natural environment and climate. The blueprint to develop a success story is always there. However, the current reality is Sabah’s potential as a property investment destination is primarily tourism related. Meaning most Chinese investors would view Sabah as merely an investment destination simply for retirement and modest wealth preservation, but not necessarily significant capital gains on their investment that they would expect in other developed cities abroad. Most of the wealthy Chinese accumulated their riches during China’s Real Estate boom and the stock market bull-run in the last 10-15 years. Therefore, they have also become market savvy investors, continuously seeking potential high growth yields or returns from their investment
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in prominent overseas locations where they can boast their accumulated investments with a sense of pride. At the same time, they are also looking to the future, offering their children a solid foundation for quality overseas education whilst seeking potential immigration status and favorable pension schemes in return for their investments. Established western countries have certainly provided these for the Chinese where they can also attain a sense of pride and status which Sabah is not able to provide such dynamics yet.
potential resources, I always believe Sabah certainly has the platform to attract more investors. There has to be a fully committed, aggressive plan and action to create a catalyst and kick start a vibrant local economy and a working class migration into the state. I am certain, whatever bold plan that will be implemented in the near future will initiate the much needed competitive edge necessary to boost Sabah from being primarily a tourism destination to that of international attraction and investment value.
Ultimately, Sabah needs to improve the fundamental market dynamics and standard of infrastructure compared to other competitive and established overseas investment locations.
Perhaps a dedicated hub for specialized services, increased investment incentives and more accommodating foreign investment guidelines to foreign investors may be required to turn Sabah into a real investment destination. Currently, the size of Sabah’s market simply cannot provide that additional impetus for more Chinese investors to park their wealth here with real investment purpose and ambition.
For a start, it certainly lacks a sizeable population catchment and levels of income sufficient to drive a bustling economy that can promote sustainable demand growth and a certain vibrancy to attract a lot more Chinese to invest.
Infrastructures the Chinese look for
Despite the drawbacks though, and with its
We have seen in many established cities how prudent planning and quality infrastructure form the backbone for attractive developments. Sabah hasn’t quite reached such standards yet. Local developers have probably delivered (within their capacity) what they could, to meet the
market standards and quality sufficient enough to attract overseas investors. In truth, what is evidently lacking to a certain degree is high-level infrastructure equaling international standards to create quality developments to compete with other successful cities abroad. Despite China being regarded as a developing nation, many of the smaller emerging key cities already have impressive infrastructures in place for future developments, some nearly matching those of international standards. Local governments there are highly driven and committed to provide this basic foundation to attract local, regional and international developers to invest and build quality developments. Hence, the speed and magnitude of their success have become so prominent in recent years purely from their willingness to act and deliver. When Chinese investors visit Sabah they inevitably make comparisons firstly with their home country, and secondly, with other international or regional cities they have visited that also offer attractive property investments. Scale comparisons aside, Sabah’s infrastructures haven’t even equaled the standards the Chinese people are used to seeing back home in their country. Sabah will need to bridge this gap in order to fulfill its full potential.
Yuen Vs. Ringgit The continuing depreciation of the Malaysian Ringgit against the U.S. Dollar favours the Chinese buyers for Malaysian properties despite the devaluation of the Chinese Yuan currency. The Chinese currency continues to strengthen versus the Ringgit. Malaysian properties therefore, should be seen as cheaper and more attractive to Chinese investors.
visitors entering Sabah during their visit to the state. Local developers should work closely with tourism authorities, hotel and tour operators to enhance this. Local developers may also aggressively promote advertising banners and property flyers from the point of disembarkation of visitors at KKIA airport terminal right down to the city centre in bilingual ‘English/Chinese languages’ specifically and deliberately to catch the attention of the Chinese visitors.
Local developers should also expand their network through external marketing channels to reach mainland Chinese people. This can be through working closely with local property agents who are already actively marketing properties to the Chinese in mainland China by tapping into their growing Chinese investor database. Other equally useful channels are through local travel agents coordinating with mainland China travel agencies and popular Chinese property agent websites promoting overseas properties. The Impact Of Chinese Presence In Sabah Within The Next 5 Years The level of impact will hugely depend on the intensity and spread of the property as well as
tourism marketing campaigns. I foresee it will continue to be modest. Nevertheless, I certainly hope that with the continued strengthening of the Yuan versus the Ringgit, more Chinese will look to Sabah as their secondary investment destination closer to China in the next 5 years, having already invested significantly in western countries in the last few years. We must remember Sabah is still developing. The market continues to reflect this and ultimately, Sabah is first and foremost a mere tourist destination with abundant natural resources with much potential to grow – for now. There are still shortcomings - from infrastructure quality right down to the lack of supporting international standard amenities. The current lackluster economic climate also continues to undermine the situation. The ever increasing number of Chinese tourists to Sabah definitely creates a positive outlook for potential demand in Sabah properties. However, the degree of impact and sales volume from Chinese investors depends mainly on two key factors: 1.
The economic competitiveness and attraction Sabah can offer on capital investments for the Chinese investors (in addition to being merely a tourist destination) in the next 5 to 10 years versus other similar tourist destinations in the region.
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The scope and intensity of the marketing by the state government, relevant authorities, developers and property agents in Sabah to the broader masses of mainland Chinese people who are looking to invest overseas.
The devaluation of the Yuan is not expected to deter or detract Chinese investors continuing to buy overseas properties. For the Chinese, this is only a mild devaluation. It merely points to interest rates and property yields in China remaining lower for a longer period. This will have limited impact on foreign real estate acquisitions by Chinese investors and institutions, as their urge and need to build up diversified portfolios (or spreading their wealth) continues to outweigh concerns regarding currency fluctuations.
Channels Developers Should Use To Maximize Exposure To The Their Market As I mentioned earlier, we should maximize the exposure of Sabah properties by broadening the marketing scope and boundaries to Chinese
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FEATURED PROPERTY EVENT
HOT IN THE MARKET
Low Density Gated & Guarded Terrace House With Clubhouse Facility
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odelled after the successful Kiansom Country Heights in Kiansom Kota Kinabalu, the first gated and guarded residence with clubhouse facilities in KK, Kinsabina Group launched Casablanca Residence at Kolombong, which also carries similar elements of the former. Kinsabina Group under the leadership of Datuk Francis Goh and Datuk Gerald Goh has built a solid reputation as a developer who walks the talk. Built for the convenience of its residents in mind, Casablanca is a low density, 97 units landed 2 storey terrace house that is located in the matured neighbourhood of Kolombong. Emphasizing on the importance of a good property management corporation, Datuk Francis Goh insists that the appreciation in property value is directly linked to the effectiveness and efficiency of the management body.
“Take Kiansom Country Heights which was built by us some 10 years ago as an example. It was then the first gated and guarded landed detached house that came with a clubhouse facility. To date, the property is well managed and is supported by cooperative residents who pay their dues, the secondary market value for the property has also increased by RM 1 million,” says Goh. Casablanca is a rare offering in today’s competitive property market. For such a low density development, the developer has invested into building a clubhouse complex offering comprehensive facilities. Apart from the expected swimming pool and gym, Casablanca boasts a basketball court as well as a tennis court.
A library and reading room have also been included to provide a venue for the children and students who live there. One of the unique moves shown by the developer is its high level of transparency when showing to attendees the projected calculation of its Management Fees, during which details of expenses were clearly listed out. Towards the end of the event, Datuk Francis Goh pledged a donation of RM100,000 each to two local schools as an education aid for less fortunate students. He further clarified that he will renew the donation pledge for a continuous period of 3 years should the funds run out. Further information about Casablanca Residence can be obtained through the developer’s office by contacting 088-724111 or visit their website at www.casablanca.my.
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Datuk Francis Goh showing attendees the highlights of Casablanca Guests at the launch Datuk Gerald Goh and Datuk Francis Goh explaining to a VIP Guest Datuk Francis Goh pledged a donation of RM100,000 to local school The official launching of Casablanca
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HOT TOPIC
H1 2015:
Overall Malaysia Residential Property Market By Charles Tan
Everyone is saying that in terms of numbers, the property market is down. However, no one really knows about the actual numbers. Well, time to look at some real numbers. The chart (Figure 1) comes courtesy of Raine & Horne and the source is National Property Information Centre (NAPIC). The Malaysian property market actually hit its peak in Q2 of 2011. Meanwhile, the slowest period reached, was in Q1 of 2014. Q1 2015 was down versus Q4 2014 but Q2 2105 has showed a slight increase.
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Number and value of Residential Property Transactions in Malaysia, Q1 2011 - Q2 2015 24.00
80,000
22.00
Number of Transactions
18.00 16.00
70,000
14.00 12.00 10.00 8.00
60,000
6.00
Value of Transactions (RM Billion)
20.00
4.00 2.00 50,000
Q1
Q2 Q3 2011
Q4
Q1
Q2 Q3 2012
Q4
Q1
Q2 Q3 2013
Q4
Q1
Q2 Q3 2014
Q4
Q1 Q2 2015
No. of Transaction
60,333 73,710 67,176 68,570 64,402 71,595 73,258 63,414 59,210 60,837 61,042 65,136 58,767 64,063 63,661 60,760 59,626 59,973
Value of Transactions
13.52
16.68
15.61
16.03
15.13
17.48
18.03
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here is an overall residential property market contraction in Malaysia during the first half of 2015 as compared to the same period last year, according to the number and value of transaction figures released by National Property Information Centre (NAPIC).
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16.22
17.54
18.54
19.76
19.39
20.92
21.66
20.09
18.74
0.00
19.23
(Figure 1) transactions to increase from the first to second quarter as seen from the increase in transactions in 2014 from 58,767 transactions to 64,063 units (worth a total RM20.92 billion) in the second quarter.
The first half of 2014 recorded a total of 122,830 transactions in the market worth a total RM40.31 billion; but in comparison, the first half of 2015 only recorded 119,599 transactions which is a 2.63% contraction with a value of RM37.97 billion. If we look at the quarterly comparison, the first quarter of 2015 saw a slight increase of about 1.46 % compared to the first quarter of 2014, from 58,767 transactions (worth a total RM19.39 billion) to 59,626 transactions (worth a total RM18.74 billion).
Looking at the transactions history for the previous years, the first quarter of every year will see a slight drop before the transactions spike in the second quarter. The residential property market in Malaysia hit its peak in 2011 when the second quarter of that year saw transactions spike to 73,710 units (worth a total RM16.68 billion) from 60,333 transactions (worth RM13.52 billion) in the first quarter of that year. Similarly, in 2012, the first quarter saw total transactions of 64,402 units (worth a total RM15.13 billion) before it spiked up in the second quarter to 71,595 transactions (worth a total RM17.48 billion).
By the second quarter, there is a noticeable contraction by 4,090 units from 64,063 transactions in 2014 to 59,973 transactions in the same period this year or a contraction of about 6.38%. Over the years, it is normal for
After the market hit its peak period between 2011 and 2012, it began to drop in 2013 and reached an all-time low in four years in the first quarter of 2014. The market picked up in the second and third quarters of 2014 by recording
64,063 transactions (RM20.92 billion) and 63,661 transactions (RM21.66 billion) respectively. The market again dropped to 60,760 transactions, with a total value of RM20.09 billion in the fourth quarter of 2014 and continued to drop in the first quarter of 2015 before it increased only slightly in the second quarter of this year. The overall residential property market in Malaysia in the last four years and the first half of this year saw the market spiking in 2011 and 2012 before it contracted in 2013 and though it increased slightly in 2014, it showed a contraction for the first half of this year. Raine & Horne International Zaki + Partners Sdn Bhd Senior Partner Michael Geh attributed the overall contraction in the market to strict loan requirements.
“The low loan approvals due to stricter loan requirements has taken a toll on the property market,� he said.
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FEATURED EVENT
Plaza Shell
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A New City Skyline In Kota Kinabalu
hell underscored its confidence in Sabah by having its new offices in the eco-friendly building – Plaza Shell which was officiated by Sabah Chief Minister Datuk Seri Musa Aman on November 14, 2015. Speaking at the event, Musa expressed his gratitude on behalf of the government to the gas company that established a deeper root to the state.
Earlier in April this year, Musa had urged oil, gas and energy companies to build on the opportunities here in the state.
“We look forward to our continued partnership with Shell, as one of Sabah’s long-standing corporate citizens, for the good of our state’s people, economy and environment. We hope that others will follow Shell’s lead to build on the great opportunities available here in Sabah,” said the chief minister.
“Our off shore operations started in 1958, when Shell drilled the first offshore well in the Sabah Basin. Since then, Shell and Sabah’s oil and gas sector have grown from strength to strength. Plaza Shell represents our continued confidence in the opportunities available in Sabah,” he continued.
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“Plaza Shell is more than just a new office for us. This is a landmark to represent our long presence, partnership and progress here in Sabah,” said Chairman of Shell Malaysia Datuk Lain Lo.
According to Shell, Sabah is home to Gumusut Kakap, Shell’s first deep water venture in the country. The project uses Shell’s technology to safely produce and pipe oil from beneath seas 1,200 metres deep. The oil and gas company is currently working on their second deep water venture for the Malikai oil field, 100 km from Sabah. The project will use a tension-leg platform, a technology first implemented in the Gulf of Mexico. The company also became the first supplier to offer 60 / 70 penetration grade bitumen in Sabah, which is suitable for the tropical climate for better performances. This year, 5 Sabah non-government organisation received RM 240,000 in sustainable development grants from Shell to support their work in the community and environmental development.
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Masterpiece - the eco friendly building of Plaza Shell is the new landmark of Kota Kinabalu. Chief Minister Datuk Musa Aman officiating Plaza Shell. A historical moment, Datuk Musa Aman affixed his signature to the memorial plate. Plaza Shell miniature appeared on the stage, witnessed by the dignitaries
Shell had also awarded 10 scholarships to Sabah scholars in order to pursue their tertiary education. Perched in the heart of the city, the 14-storey high building is developed and owned by Hap Seng Group, a developer with over 50 years of proven track record in property development.
It enjoys immediate access to outstanding transport links and is in close walking proximity to the city core, including hotels, shopping malls, golf courses, hospitals and other public amenities such as the police headquarters.
“Apart from its prominent location which provides spectacular views, the building is also the first truly Grade A office tower in the State and it is set to revolutionise the office and retail space standard, bringing Kota Kinabalu’s corporate lifestyle to the next level,” said Hap Seng Properties Development Sdn Bhd Chief Operating Officer John Tan Duo Zer. Shell Plaza also featured Honda is new office, as well as Mercedez Benz. The new eco-friendly building is able to provide a 100% back up for electric supply in case of emergency, and featured a “double-glazed” unit glass for heat and noise insulation, which was the first to be introduced to Kota Kinabalu. The building was constructed by one of the top building constructors – Vinci Construction.
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EAST MALAYSIA PROPERTY NEWS
EAST MALAYSIA PROPERTY NEWS
Keep track of the latest property and real estate news plus reviews in the property market in East Malaysia
Google Footprint Introduced To Kota Kinabalu via Google My Business (http:/www. google.com.my/business). The entire exercise is completely free of charge.
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oogle Search and Google Maps has introduced ‘Footprint’ in Kota Kinabalu to verify and improve existing business information, correct inaccurate listings, and create listings for new businesses, as reported by The Borneo Post.
Malaysia, Footprint ‘walkers’ will come to business owners in Kota Kinabalu to collect information such as contact number, business opening hours and taking a photo of the storefront for listing on Google Search, Google Maps and Google+.
After adding tens of thousands of retail businesses in Peninsular
Once listed, retail businesses can manage their own online presence
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Sajith Sivanandan, managing director Google Malaysia, said that Footprint ‘walkers’ will carry a Google verified documentation authorizing them to carry out this activity. The business owners may be able to go a step further and claim their listing through the Google My Business portal. Through Google My Business, they can update their business information, add beautiful photos of their business and a virtual tour
of their business interior to help customers see what makes their business unique, connect directly with their fans and customers by sharing news, events and other important updates from their Google+ page, stay on top of reviews from across the web, and respond to Google reviews, understand how people find and interact with their business using custom insights and manage their information on-the-go with the Google My Business Android app and the iOS app. The ‘Footprint’ team hopes to reach Kuching later this month. For enquiries or more information, email: footprint-inquiries@google. com.
3,072 Illegal Squatters Have Been Destroyed - DBKK
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total of 3,072 illegal squatters have been demolished by Kota Kinabalu City Hall (DBKK) between 2011 and 2015, according to Mayor Abidin Madingkir. Still, DBKK is being plagued with the problems associated with the growth of illegal squatters despite the efforts to eradicate them since the last five years. “But the problem has continued to prevail and the illegal squatter statistics have remained unchanged. We have noticed that after the squatters are destroyed, they rebuild the colony elsewhere and open a new site. They transfer the problem to another place,” explained Abidin, based on the news reported by The Borneo Post. Abidin attributed the prevailing problem to the attitude of those involved in the establishment of the squatters. “It is a preferred choice for some who want things for free. They give all sort of excuses to garner our sympathy,” he said. Abidin also revealed that DBKK even came up with a categorization of the illegal squatter communities, and they are as follows:1.
People who migrate in search of job oppurtunities who bring their entire family with them without considering that they would need a place to stay.
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People who enjoy the ambiance of a village within a city
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People who hope that the squatters will be upgraded to the status of Kampung
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Abled people who had allowed their chance to purchase a house slip by their fingers
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Abled individuals hoping to be given a free relocation
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People who cannot afford to buy or rent a house
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Those with no choice because they are land-less and have no family.
As of October this year, there were 4,434 illegal squatters established within Kota Kinabalu involving a population of 21,367. The heads of the families comprised of 2,797 Malaysians and 1,793 foreigners. According to Abidin, with these illegal squatters, lots of problems occurred such as installation of illegal power and water connection – which is a loss to the government. He added that all the 36 squatter colonies within the city were on government land and the largest illegal squatter colony was located in Likas. ‘We have received a lot of complaints and we are trying to eradicate this problems. Other issues include social issue such as drug abuse as well as those related to health, economy, security, cleanliness and the system of the areas. Also an issue is the emergence of opportunist selling government land lots,” he continued. “We hope for the cooperation and support from all agencies so that we can achieve zero illegal squatters for Sabah,” he concluded.
Rapid Bus Transit System For Sabah Mulled
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he Sabah state government is optimistic about implementing the Rapid Bus Transit System here in the city. Chief Minister Datuk Seri Musa Aman said the state government in a state cabinet meeting on Wednesday approved in principle, a feasibility study on the public transport proposal.
“The government is aware that an efficient modern public transport system like the Rapid Bus Transit, light rail transit (LRT), commuter train and mass rapid transit (MRT) is needed for the convenience and comfort of the people,” he explained, as reported by The Borneo Post.
“Without a good transportation system, the state’s economy would not progress rapidly and retard development expected by the people,” said Musa. Meanwhile, state Housing and Local Government Minister Datuk Seri Hajiji Noor hoped that participants in the conference would “think out of the box” in seeking the best solution to empower the transportation system in Sabah. This is because, he said, Sabah’s roads and quality of public transport, “were still poor compared to other states in Malaysia”. “If we don’t find a solution from now, Sabah might not be able to cope with the ever increasing traffic and this could affect the state’s economic development,” he said
“Nevertheless, to realize all these depends on our financial capability as building them would require billions of ringgit,” he said while launching the World Town Planning Day 2015 conference yesterday (22 October 2015). The conference organized by the Sabah Town and Regional Planning Department themed, ‘Public Transport Planning Towards Liveable Cities in Sabah’ was held to deliberate and share views on pertinent issues in town planning in the state.
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Earth view of Kota Kinabalu as seen from Google Maps. Bus terminal in Tawau.
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FEATURED EVENT
Gleneagles KOTA KINABALU
Gleneagles Widens Access To Private Healthcare
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arkway Pantai yesterday (3 November) commemorated the Official Opening of Gleneagles Kota Kinabalu (GKK), its first healthcare facility in Malaysia. The event was officiated by the Chief Minister of Sabah, Yang Amat Berhormat Datuk Seri Panglima Musa Haji Aman. GKK opened its door in May this year, one month ahead of schedule. To-date, more than 4,000 patients were treated including 20 earthquake victims which were transferred from Mount Kinabalu when the disaster struck Sabah in June. “The wheels have been set in motion to make Gleneagles Kota Kinabalu a leading hospital in the region and a new referral centre for local and international patients seeking quality medical care,” said Chief Executive Officer of Gleneagles Kota Kinabalu Mr Jean-Francois Naa. “We remain committed to continuously improve and expand our services to better serve the people of Sabah, and we are ready to extend our unique healthcare services to the public health sector,” he continued. Dr Tan See Leng, Managing Director & Chief Executive Officer of IHH Healthcare and Group Chief Executive Officer & Managing Director of Parkway Pantai commented that the centre represents their vision to bring world class healthcare within reach of a wider population in the region. “We are confident it will carry on Parkway Pantai’s track record in delivering best-in-class patient care and clinical outcomes as the Group spreads its wings further in China, India and the Asean countries,” he added.
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According to Naa, the healthcare centre has brought back some of the talented doctors and nurses who previously worked abroad to expend their career in their homeland. The Chief Minister expressed his confidence in Gleneagles during his speech by mentioning that the centre has now become the new iconic hospital in Sabah.
“Not only does GKK address the rising needs for quality healthcare in here, it enhances Sabah’s attractiveness as a regional medical hub. I am happy to note that most of the positions in the hospital are filled by the local talent who have been waiting for the opportunity to work and acquire best healthcare practices from a renowned operator. Indeed we are hopeful that GKK will be a solid training ground for the development of our next generation of healthcare professionals,” he said. GKK is located along the coastal highway of Kota Kinabalu and is one of the four pillars of the Riverson integrated mixed development. The hospital building is leased from Jesselton Wellness Sdn Bhd, a joint venture between Riverson Corporation Sdn Bhd, Saharmurni Sdn Bhd and state investment authority Warisan Harta Sabah Sdn Bhd, which has been tasked to develop the medical tourism sector in Sabah. GKK is the only hospital in Sabah to offer interventional radiology services and hepatobiliary surgery.
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Gleneagles Kota Kinabalu. Sabah Chief Minister Datuk Musa Haji Aman (fourth right) together with Yahya Hussein (third right), Masidi Manjun (third left), Jean-Francois Naa (far left) and other dignitaries
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during the ceremony. Chief Executive Officer of Gleneagles Kota Kinabalu Mr Jean-Francois Naa delivering his speech. Datuk Musa Aman signing the memorial plate.
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50 Per Cent Affordable Houses On Housing Project for Suggestion
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abah government need to impose terms on developers to build 50 per cent affordable houses in their housing project to address soaring house prices in the state, said Urban Wellbeing, Housing and Local Government Minister Datuk Abdul Rahman Dahlan.
According to him, such condition is important to do justice to many people in Sabah who want to own a home but unable to do so because of the escalating price especially in major cities such as Kota Kinabalu, Sandakan, Tawau and Lahad Datu whereas the prices are far higher than anywhere else in Malaysia. “If possible, I want to suggest to the state government to ensure at least 50 per cent of the houses built by developers in the state are the kind that are affordable by the people. If this happens, then the people of Sabah will have access to houses
with affordable prices,” he said according to the news reported by The Borneo Post. “If not, they (developers) will just continue to build homes that are expensive and profitable. There is no point in building so many such homes in Sandakan, Lahad Datu, and Tawau if the prices of these house are beyond the reach of the population. We must be firm. This is not happening not only in Sabah. In other state this 50 per cent quota has already been imposed on developers,” he explained.
Rahman cited that Negeri Sembilan is one of the examples where any developer who wanted to develop a housing project is required to build 50 per cent affordable houses. He also proposed to the state government to take decisive action to curb real estate speculators and property investors from manipulating prices for profiteering reasons.
Sabah Government Will Review “50 Per Cent Affordable Homes”
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he Sabah Housing and Local Government Ministry will study the feasibility of imposing a condition on housing developers that 50 per cent of their
projects must comprise affordable homes, according to its minister Datuk Seri Haji Hajiji Mohd Noor as reported by The Borneo Post.
Dahlan suggested that the state government should impose the terms to address the soaring house prices in Sabah.
“The condition was relevant considering the growing demand for affordable homes by the target group,” said Hajiji.
Hajiji who supported the suggestion in principle however said that his ministry must first obtain the state government’s approval besides holding discussion with the main stakeholder which is the housing industry in Sabah.
Previously, Urban Wellbeing, Housing and Local Government Minister Datuk Abdul Rahman
“We will consider and study the suggestion from all angles,” he added. Presently, local housing developers were obliged to set aside 30 per cent of their projects for affordable homes, according to Hajiji. He is optimistic about the suggestion as some of the housing developers in peninsular have already taken the approach.
We (Developers) Can Quit Anytime – SHAREDA Government Minister Datuk Abdul Rahman Dahlan by stating that developers can actually quit from creating developments in Sabah.
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resident of Sabah Housing and Real Estate Developers Association (SHAREDA) Datuk Francis Goh today replied to the suggestion of “50 per cent affordable house on every projects by developers” made by Urban Wellbeing, Housing and Local
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“If they really would want this injustice policy to be imposed, we (developers) will quit our profession as developers, since we do have other options – we can do projects elsewhere, such as in Brunei, Singapore, Australia or any other countries, since there is no such ridiculous policy there,” he told reporters during the press conference after the opening
ceremony of PROPEX 2015, here in Sabah Trade Centre. “We are actually trying to achieve the mission of 2020, to be a developed high income nation, but if today we are still acknowledging that are problems of purchasing a house, this proves that there is something wrong, somewhere, somehow,” he continued. Goh, who was accompanied by his fellow SHAREDA Ar. Ronnie Ang Guo during the press conference, suggested that the government
should give them (the developers) a “free land” to be developed so that the price can be reduced up to 10-15 %. “Previously, they (the government) asking us (the developers) to reduce the house price to 10% or more, and now Datuk Rahman suggested that the developers should make half of each development project to have the price reduced,” Goh explained. “Actually, there is no short supply of affordable homes in Sabah.
For example PPA1M and we have over 6,000 units PR1MA soon to be launched in the market. SHAREDA also have created for about 5,000 affordable homes throughout Sabah.” “So, what’s the problem? The problem is actually goes back to the case where it is really tough for someone to purchase a house,
which related to the bank loans. The developers shouldn’t be blamed,” he continued. “I do not know why such suggestion would come up from Datuk Abdul Rahman,” he added. “Bank should not put so much restriction for the people to get the loan. When they (the buyers) are
purchasing the house, the house price will actually increase when the development obtains the OC and when the house enters the secondary market.” “The so called affordable house will have the same effect. The bank can actually recover the loans given to the owner. Why would they be afraid to release the loan?” he concluded.
SHAREDA PROPex 2015 was officiated by The Minister of Sabah Housing and Local Government Ministry Datuk Haji Hajiji Haji Noor representing Sabah Chief Minister Datuk Seri Musa Aman earlier this afternoon. Datuk Hajiji, however was absent during the press conference to attend the announcement of Budget 2016, according to Francis.
50 Per Cent Affordable House Suggestion – “I Was Misunderstood” a “Robin Hood” culture of robbing the rich to subsidize the poor.
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abah Housing and Real Estate Developers Association (SHAREDA) has misunderstood the suggestion over the 50 per cent affordable housing according to Urban Well-being, Housing and Local Government Minister Datuk Abdul Rahman Dahlan. Rahman clarified that he had never asked them (the developers) to build low cost houses which needed to be cross subsidized by buyers of the more expensive units in a housing development. “What I suggested was that the developers should build more affordable housing which fetch higher prices and do not have to be cross subsidized,” he said according to the news reported by The Borneo Post. On Friday, SHAREDA president Datuk Francis Goh stated that the developers can actually quit from developing projects in Sabah if the 50 per cent affordable homes policy is implemented. According to Goh, the 50 per cent imposition of affordable quota into housing development project in Sabah is a very unfair policy, and referred it as
Last week, Rahman suggested for the Sabah Government to impose terms on developers to build 50 per cent affordable house in their housing projects to address soaring house prices in the state. Rahman yesterday said that there is money to be made in building affordable housing but may not as much as more expensive ones. “There are other reasons why the housing prices are very steep in Sabah. For example, there is tendency for developers to sell a lifestyle rather than just simply houses. As a result they tend to over spec their housing development.”
“Developers for example, prefer to build high quality gated and guarded houses with full club house facilities such as swimming pool, gym, sauna, and incredible landscaping. They will line the streets within the development with expensive swaying palm trees,” he continued. “The facilities are first class and the materials used to be build the houses are of import quality. All
these over spec will only translate to higher prices of the house they are building,” he said adding that the actual fact is most people just want simple and cheaper houses. “Most people just want plain, simple and cheap houses,” he said. Commenting on SHAREDA’s request for government to assist to make financial assistance for house buyers easier, Rahman said that as far as the bank loans are concern, Bank Negara Malaysia (BNM) said that is not true that potential house buyers are being turned by Banks, as first buyers will get loans if they are qualified. BNM will only stringent rules for second house applications onwards, he added.
SHAREDA anyway,” he said. Rahman also would like to remind the developers that when the economy is not doing well, the first ones who will hesitate to buy houses are those who are in it to invest and speculate. “Developers will end up with unsold expensive houses, but if the developers cater for the genuine buyers, their demands are more resilient during bad times,” he concluded.
“As far as government giving away land to developers for free, I in general agree with SHAREDA on this. But the choice is not that easy for the government to do, they do need to revenue from the land to finance development of the state. Besides, government doesn’t have much land left in urban areas to begin with,” “I’m not in position to stop members of SHAREDA from ceasing doing business in Sabah. It is their right if they want to bring their business to Singapore, Australia or Brunei. But if they do leave, I’m not sure if they are solely missed by the people of Sabah since majority of Sabahans cannot buy the houses built by
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Datuk Abdul Rahman Dahlan Datuk Haji Hajiji Haji Mohd Noor Datuk Francis Goh together with Ar. Ronnie Ang during the press conference. Datuk Abdul Rahman Dahlan
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FEATURED EVENT
Secondary Property Exhibition “MASPEX” Kicked Off for the First Time in Sabah
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abah’s first secondary property exhibition, known as MASPEX kicked off last Friday at (Nov 13) Suria Mall, Kota Kinabalu. Organized by Malaysian Instituted of Estate Agents (MIEA), MASPEX has been held since 2013 and is the only secondary property exhibition in Malaysia. The first MASPEX was held in Kuala Lumpur and has expanded to Johor and Penang and in Sabah.
“On behalf of the government, I would like to stress that we (the state government) is concerned about the growing demand of affordable housing among the lower and medium income population,” said Deputy Chief Minister of Sabah Datuk Raymond Tan during the opening ceremony. “I would therefore like to urge the private sector together with the
2 government to initiate more housing schemes that would eventually help this particular income group with the aim of having a home for everyone,” he added. According to the president of MIEA Mr. Erick YT Kho, MASPEX is a unique platform to showcase secondary properties under one roof where property buyers/investors can meet with Registered Estate Agents to seek their advice into the four main categories – options to purchase various types of properties available in the market, financing advices from the associate bankers, investment and legal advice when purchasing properties, and home improvements options. There were 32 booths and over 3,000 properties valued at more than RM1.6 billion for sale during the 3 day-event, revealed Kho. “We support the initiative of promoting and encouraging property investment in the state of Sabah, the next growth centre in Malaysia,” he continued.
The property exhibition also featured Maybank as the sole bank partner. “Maybank is pleased to partner MIEA as official sponsor of this year’s event. Our involvement reinforces our mission to humanize financial services and help support home ownership among Malaysians through our comprehensive range of home mortgage,” said Head Community Financial Services of Maybank Malaysia Mr. Hamirullah Borhan. Henry Tai, the organising chairman of MASPEX emphasized that the secondary property exhibition is the only platform in the market today for Real Estate firms and practitioners to come together to showcase and promote their secondary property listings under one roof. The 3-day event (13 to 15 November) featured interesting and relevant talks on property related topics by some of the renowned speakers.
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Group photo of the exhibitor representatives and MIEA members with Datuk Raymond Tan (fifth from the right) Elson Kho, Director of Maxx Media welcomed Datuk Raymond to Property Hunter’s booth.
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EAST MALAYSIA PROPERTY NEWS
Preview Of JSK’s Union Tower Several expansive communal areas offer additional recreation and entertainment facilities for residents.
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he W Group, previously known as the Wong Kwok Group, is an established property development company in Malaysia. Thus, as part of the company’s expansion plan to penetrate international markets, Mr. Johnny Wong, the Managing Director, formed the JSK Group of Companies, which is spearheaded by his son, Mr. Sean Brandon Wong as Director of Operations. On October 30th, JSK organized an exclusive preview of Union Tower, a new development project located in Little Lonsdale Street of Melbourne, Australia. The event was held in Magellan Sutera here in Kota Kinabalu. According to JSK, the new development ranks 100% in terms of walkability as all daily errands could be accomplished by foot – since Union tower is located within 10 minutes radius in distance covering Melbourne Central, China Town, Central Business shopping precinct, grocery stores, RMIT, banks, and the Queen Victoria Market. JSK also emphasized that Union Tower has been labelled as “A Walker’s Paradise.” Designed by leading architecture, urban design and interior design consultancy ROTHELOWMAN, Union Tower rises to 35 storeys and includes 165 one and two-bedroom apartments. Its small footprint means there are just five apartments per floor, providing peace and privacy.
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“For the last 5 years in a row, Melbourne has picked up the award for World’s most liveable city and this has been reflected in property prices of apartments growing by 4.5% each year,” said Mr. Sean Wong during his speech. Sean Wong continued that the development will take approximately 2 years to build which means that by project completion, Union Tower purchasers would have already made 9% on top of their purchase price. “Such a deal and high rental prices are one of the reasons why investors and migrants alike flock to Melbourne resulting in the high demand of apartment units. This is further shown when JSK managed to sell 75% of Union Tower units in the first 5 weeks of the Australian launch. It highlights JSK’s company concept in providing our purchasers a highquality residential unit which not only serves as a home but also guarantees them a healthy return of investment in the future,” he added. The project was launched in Melbourne in September. Construction is expected to commence in December 2015 and is scheduled for completion in November 2017.
Alam Damai And Puteri Damai Wins “Litter-Free” Status For 3 Consecutive Years “By implementing the free litter policy, we are hoping that this will create awareness to the residents of the importance of having a clean environment at our home, and hopefully this policy will be practiced everywhere else in our city, “she continued. 2
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lam Damai and Puteri Damai Condominium today celebrated their third year of winning the “Litter-Free” Status Award by Dewan Bandaraya Kota Kinabalu (DBKK). The renewed certificates were handed over by DBKK Manager of Health & Environment Department Mrs. Lizawana Matin to Wah Mei Group General Manager Mr. Lam Kok Goon, in presence of Wah Mei Property Management Manager Mrs. Edna Radang, staff from Wah Mei Group and management office. In order to maintain the status of “litter-free”, a thorough inspection by DBKK must be conducted from time to time throughout the year in order to make sure that the management of the development are consistent in keeping the environment clean and meets the specific requirements, according to Edna. “It is our responsibility as the property management to make sure that the residents enjoy the best quality of healthy environment. We have installed recycle bins for the residents to practice recycling policy.” “Every actions we take such as the tightening of security are for the benefit of the residents. So far there is no crime rate recorded in our neighborhood and we are glad with our achievements,” she emphasized.
According to Lizawana, Alam Damai and Puteri Damai Condominium were the second ones to receive this award, with The Peak Condominum being the first. However, the renewal status for The Peak is still pending due to certain issues that are yet to be solved, thus making Alam Damai and Puteri Damai currently the only developments in Kota Kinabalu to bear the prestigious status. “They (management) are consistent in keeping their job done. Well done to the management. I hope that in the future there will be more developments to have the same status,” said Lizawana. Commenting on the future status renewal, Edna said that the management will do their very best to maintain the status as sustainability factors are important nowadays. ‘By practicing the sustainable green environment concept, this will definitely lead us to a better and healthier lifestyle in the long run, and at the same time revealing greater appreciation towards our home,” she finished.
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JSK Australia’s Director of Operations Mr. Sean Wong delivering his speech. Mrs. Lizawana Matin handing over the renewal certificates to Mr. Lam Kok Goon
Belawai To Be Sarawak’s New Tourism Attraction Among the tourist attractions in Belawai are its beach, the Rejang Songket Weaving Centre and the Belawai River.
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n a bid to help develop Belawai into a tourist attraction, the state Tourism Ministry approved RM1 million for the construction of various facilities such as a children’s playground, recreational centre and a gazebo, reported The Borneo Post. “Belawai has huge potential in the tourism industry with its rich natural resources and culture,” said Tourism Minister Datuk Amar Abang Johari Tun Openg after officiating the presentation of equipment under ‘Bumiputera Entrepreneurs Enhancement Programme’ (Putera) in Belawai.
Abang Johari, who also serves as Housing Minister, noted that the river is a perfect spot for anglers while the beach is suitable for the development of lodging and food sectors.
“Rejang Songket Weaving Centre can be promoted as a cultural tourism product,” he said. He revealed that the Belawai district is set to be included in the Sarawak tourism attraction list in a promotional package that will be made in Singapore in 2016. He further noted that this will help promote Belawai to foreign visitors.
420 Lots For Extended Families Of Kampung Datu/Hilir Residents
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he government has approved a total of 420 land lots in Kemuyang for the extended families from Kampung Datu and Kampung Hilir who have no land to build their houses. Housing Minister Datuk Amar Abang Johari Tun Openg said the government had allocated a piece of land which had already been cleared for the purpose, according to the news reported by The Borneo Post. “Chief Minister Datuk Patinggi Tan Sri Adenan Satem will be coming here to officiate at the groundbreaking ceremony of the project soon. “The project was requested by Nangka assemblyman Dr Annuar Rapaee,” he told reporters after inspecting a housing project at Kampung Datu Baru here yesterday. On the project at Kampung Datu Baru, Abang Johari, who is also Tourism Minister, said the
government had agreed to add the number of housing units to be built there from 33 to 45. He said the houses were built based on response from the applicants who are victims of the Kampung Datu/Kampung Hilir fire recently. “Most of them prefer two-storey than single-storey houses with prices cheaper than in the market at RM120,000 for a double-storey unit and RM90,000 for a single storey unit. The project which takes up 38.21 acres is undertaken by M/S Daya Builders Sdn Bhd at a cost of RM4.818 million. It started in August and is expected to be completed in August next year. Dr Annuar, Pantai Damai assemblyman Dr Abdul Rahman Junaidi and Temenggong Datuk Wan Hamid Edruce were among those present at the function.
Late Delivery Of House – RM3,800 Penalty To Developer claim hearing was presided by Dato Maznah Dasmi and assisted by Robert Elone Sireng and Bexter Agas Michael as panel members.
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he Sarawak Housing Claims Tribunal has directed a developer to pay RM3,800 for late delivery of a house to the claimants – Chai Chee Ngian and his wife Joon Ann Wee – within 14 days upon receipt of a letter from them, according to a report by The Borneo Post.
The developer, in addition, has to repair all damages to the house within the same period and if the claimants are not satisfied with the repairs the Tribunal will get their engineers to assess the situation again. Held on 14 October at the old State Legislative Assembly, the
According to the brief facts of the case, Chai and his wife (claimants) bought a single storey semidetached house at Muara Tuang and signed the ‘sales and purchase’ agreement on April 2, 2012. The house should be completed on April 2, 2014 but was delayed until Jan 15, 2015. When completed, the claimants found defects at the porch and other places such as a hole in the ceiling, leaking roof, damaged front fencing and cracks on the beam.
The claimants gave the defect list to the developer, who in turn, told his foreman to make the necessary repair but no action was taken. Keys were given to the claimants but they could not go in as there were no water and electricity supplies. The claimants wanted the developer to repair all the damages and pay for late delivery of the house. The late delivery, they estimated was nine and half months and for each month delay the sales provision is RM400, making up RM3,800 in total. The Tribunal’s secretary Ali Abdullah was also present at the hearing.
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FEATURED EVENT
Interactive And Family Oriented Property Exhibition
Maxx Media closed 2015 with PIHex
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axx Media’s final property expo for year 2015 took place on 13 – 15 November at City Mall, Kota Kinabalu. Dubbed as “PIHex – Property, Investment and Home Expo“, the 3-day event featured both international and local properties, organized to raise the awareness of the current property market to the visitors including young generation, especially those who planning to further their study outside of the country. According to Maxx Media Spokesperson and Director Mr. Elson Kho, the number of exhibitors participated the expo had served more options to the visitors for their investment planning. “With the current market condition, it is indeed wise for people to start investing now to prepare for the future, as the saying goesa stich in time saves nine,” said Kho.
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We at Maxx Media would like to express our sincere gratitude to all of the exhibitors who participated the event. See you all in 2016 !
International properties located in Australia and also Phnom Pehn in Cambodia were featured during the event. Among the participated international exhibitors were Regent Residence & Bell (OZ Property Group), Woodbridge Creek Estate (AGEM Properties), Vantage Riversedge Apartment (Sino City Asia Limited), Rangeview Park Landsdale (Urban WA Real Estate), The Garden Residency (JS Land) and the newly launched Affinity Apartment (Dragon Century).
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Panaromic view of Property Hunter’s booth. Always ready- Team Property Hunter ready for action. Fun and exciting- Parents and their kids enjoying their weekend at Property Hunter’s booth. Visitor getting their advices from the exhibitors representatives.
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EAST MALAYSIA PROPERTY NEWS
RM30 Billion Investments For SCORE To Date and maintenance of machinery, as well as equipment and motor vehicles.”
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arawak Corridor of Renewal Energy (SCORE) – the state’s mega development has so far attracted 20 projects with total investments of over RM30 billion, and should be able to generate more than 15,000 operational employment opportunities, reported The Borneo Post. Assistant Minister of Industrial Development (Investment and Promotion) Datuk Julaihi Narawi believes that the draw has been on the 8,000-hectare Samalaju Industrial Park (SIP) – one of the growth nodes under SCORE. It is learned that SIP, being a fastdeveloping industrial park, already have companies investing RM25 billion and it is set to create 13,052 jobs. At the moment there are six companies already on the ground — namely Tokuyama of Japan which specializes in polycrystalline silicon, Press Metal of Malaysia (aluminium ingots and billets), Pertama Ferroalloys of Hong Kong (silicon manganese), OM Materials of Singapore (ferro-manganese), Sakura Ferroalloys of South Africa/ Japan (ferro-silicon manganese) and Iwatani-SIG of Singapore (industrial gases). “The presence of these industries in Samalaju has created huge business and employment opportunities in areas such as food catering, logistics and transportation, accommodation, laundry, cleaning services, supply of construction materials and equipment, repair
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“The state government has also allocated 481 acres of industrial land within SIP for SMEs (small and medium enterprises) involved in supporting works and services,” he told reporters during a press conference held in association with a media visit to the industrial park yesterday. Julaihi, who was representing Industrial Development Minister Datuk Amar Awang Tengah Ali Hasan, said the high-technology SIP was a ‘Green Field’, offering competitive green renewable energy from hydropower. “I think this is one of the pulling factors for investors to come and invest in Samalaju.” Julaihi said apart from green power, the state government would also be offering competitive pricing for land, water rates and electricity tariffs, as well as tax incentives and the training of skilled workforce. At the same time, he also believed that political stability and efficient government were among factors that would attract investors to come here. “Of course, we have a businessfriendly policy and if they (investors) want to come here, they would be assured that their investment is safe, and they can generate profits,” he added. Moreover, Julaihi said the strategic location also played a vital role in that there were deep-sea ports here – crucial for investors in terms of imports and exports. “When we look at the companies operating in SIP, their products are exported to countries like China, Japan and South Korea. Even the
connectivity to be provided by the Pan Borneo Highway would further accelerate economic growth,” he said. Adding on, State Planning Unit deputy director Buckland Bangik said the price rate of energy supply offered to the investors in SIP would be subject to negotiations between them and Sarawak Energy Bhd. “What we can say the rates that we are offering is very competitive.”
Timely manner responds by The State Government The state government responded in a very timely manner to provide infrastructure needed by the industries in Samalaju, especially in SIP, said Regional Corridor Development Authority (Recoda) chief executive officer Tan Sri Datuk Amar Wilson Baya Dandot. “We want to assure the investors that things are in place. No doubt that success breeds more challenges,” he commented on the issues and challenges faced by investors in terms of key infrastructure and facilities in SIP. According to Wilson, the private sector plays a significant role in this respect, as it may take time to be fully operational. “However, we understand the urgency and priority of the companies. We will address this from time to time. We are talking to the investors — for some, if we could provide the facility tomorrow, we would do it; for several others, it would take a little bit of time because of budgetary and other factors,” he said. On the media visit to SIP, Julaihi said the main objective was for members of the press to obtain the latest updates on the development of various industries within SIP.
“The presence of these industries in Samalaju has created huge business and employment opportunities in areas such as food catering, logistics and transportation, accommodation, laundry, cleaning services, supply of construction materials and equipment, repair and maintenance of machinery, as well as equipment and motor vehicles.” “The state government has also allocated 481 acres of industrial land within SIP for SMEs (small and medium enterprises) involved in supporting works and services,” he told reporters during a press conference held in association with a media visit to the industrial park yesterday.
Time for UNIMAS to Have Its Own Hospital “That is quite an achievement not only due to UNIMAS vice chancellor Prof Datuk Dr Mohamad Kadim Suaidi, but also his predecessors. We have also become an established institution, where people send their children here to study and gain experience.”
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he time has come for Universiti Malaysia Sarawak (UNIMAS) to have its own university hospital for training and development of young doctors and nurses, as well as to conduct medical research, suggested Sarawak Chief Minister Datuk Patinggi Tan Sri Adenan Satem, adding that the state university has produced about 1,000 medical doctors.
“I think it is time for UNIMAS to have a university hospital. They are seeking to have that so we will be asking the federal government for funding to provide us with a university hospital. “There are some universities that already have university hospital, although they were set up later than UNIMAS” he said in a press conference after presenting certificates to graduates at Universiti Malaysia Sarawak (UNIMAS) 19th Convocation Ceremony here yesterday, as reported by The Borneo Post.
Earlier during his speech, Adenan stressed to the graduates the importance of English proficiency, adding they must realise that English is not a colonial language, but is widely used around the world as the language in fields such as science, philosophy, technology and learning. “We have not taken a suitable decision 10 or 20 years ago, where we gave priority to Bahasa Malaysia and not enough emphasis was given to English. Now it’s time for us to start a new policy to emphasize English and Bahasa Malaysia at the same time. We can raise both languages together. So in Sarawak, we emphasize English to be used together, of course, with Bahasa Malaysia. It will be easy if we are bilingual.” Adenan also revealed that he was sad to learn that thousands of graduates in the country were not employed due to the lack of English proficiency, adding that nowadays, both foreign and local companies required employees with English proficiency. On the setting up of UNIMAS he said it was one of the wise decisions taken more than 20 years ago to have a public university in Sarawak, noting that over the years, UNIMAS had contributed a lot to Sarawak and Malaysia.
Adenan also encouraged graduates to pursue lifelong learning, stating that they should not stop pursuing knowledge after obtaining a bachelor’s degree, but should go on to master’s degree or even doctorate degree. Meanwhile, Kadim said UNIMAS was proud that they produced 3,919 graduates this year, bigger than last year when it produced only about 2,700 graduates. He said the number of pre-graduates this year was 3,572, while 347 were graduate degree holders and 45 of them were awarded doctorate degrees.
“Now, we have a student population of about 17,200 and in a short time, will achieve the 18,000 level. We provide hostels for almost 80 per cent of the students and we don’t intend to provide it to 100 per cent of our students because we want our students to stay with the community outside the campus.” As for UNIMAS’ expansion plan, Kadim said UNIMAS had started collaborating with its partners to offer post graduate programmes in Kuala Lumpur, with its first intake in last September.
“We are proud with UNIMAS’ achievement because the numbers showed that more students had chosen to study in UNIMAS, whether it is for pre-graduate or graduate. We hope we will continue to be the students’ choice, in line with our mission to be the choice university for students and academicians.” As a public university, he said UNIMAS would want to accept many students but they understood that the university was built and designed to cater for about 18,000 students, adding that anything more than that would not be conducive for the students. Kadim noted that a total of 3,892 new students registered for the 2015/2016 intake, making the whole student population for this year 17,226 students, which exceeded the target of 15,000 students.
Previous Page 1. Belawai area. 2. The hearing was held at Sarawak Old State Legislative Assembly. This Spread 1. Logo of Sarawak Corridor of Renewal Energy (SCORE). 2. University Malaysia Sarawak (UNIMAS).
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FEATURED EVENT | IWCity
ISKANDAR WATERFRONT CITY A vision to reinvent Johor Bahru Johor Bahru — The ongoing transformation of the skyline in Johor’scapital city has seen the emergence ofmany residential, commercial and retaildevelopments, especially within the citycentre.
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espite the rapid influx of concrete and steel, and population growth, many feel the city centre and the areas around it still lack the necessary vibrancy and pulserequired to achieve its desired goal of beinga global city. Among the voids that need tobe addressed are innovative developmentsthat offer a one-stop destination to blendbusiness and leisure elements at a singleaddress. But that will soon change. Iskandar Waterfront City Bhd (IWCity), which is involved in a portion of themammoth 4,000acre Iskandar Waterfrontdevelopment within Flagship A, has avision to reinvent Johor, not just by reshaping its landscape but also via the beautificationof waterfronts along the Johor Strait. Together with Property Hunter, IWCity made appearances 3 times for exhibition this year, with two events took place in Miri, Sarawak - Bintang Megamall Property Exhibition (1618 October), MITRAF8 Expo (29 October - 1 November) and including the recent PIHex – Property, Investment and Expo held on 13 to 15 November 2015.
Luxurious But Affordable Condos
No small feat, Iskandar Waterfront Cityin JB will stretch along 25km of scenicwaterfront land facing the Johor Straitand it will be home to iconic buildings,shopping malls and a number of majortourist attractions when fully completedover the next two decades. “The endeavour promises to result in afeast for the eyes, but with style must comesubstance,” says Eva Ng, general manager(marketing) of IWCity. She is also in chargeof Iskandar Waterfront’s eastern corridorprojects. Among the key projects taking shapein the locale is the highly anticipated Botanika, a residential development thatwill play host to luxurious, but affordable,waterfront villas and condos. In addition to this, there will be privateownedprojects taking shape in the area thatwill provide a synergic built environmentand strong lifestyle appeal. This includes Danga Boulevard, a mixed
developmentbeing undertaken by the privately-owned Naga Berkat Sdn Bhd which will adopt vibrant urban centre concept found inmany popular integrated projects in KualaLumpur and Singapore.
Botanika
The scenic southern coastline as well as the many river ways that Johor is endowed with provides imaginative developers with an ideal canvas to create outstanding environments for work, play and stay. Thus far, most have lived up to expectations, with each new concept vying to trump the last. This healthy competiveness is serving to transform Malaysia’s southern-most coast into a very attractive global destination. Among the leading waterfront concepts poised to reinvent the landscape in Johor today is Tebrau Bay, a 100-acre development undertaken by Bayou Bay Development Sdn Bhd – a wholly-owned subsidiary of Iskandar Waterfront City Bhd (IWCity). Strategically located on prime land along the banks of the Tebrau River and beside the Straits of Johor, facing a magnificent view of Singapore, Tebrau Bay is well-positioned to realise its potential of becoming a truly international waterfront lifestyle and cultural centre within Iskandar’s eastern development corridor. In addition to residential opportunities, the expansive mixed development will also boast a commercial centre, shopping galleria and an iconic waterfront recreational area. The location also offers advantageous connectivity, with the nearby Eastern Dispersal link connecting it to Northern routes and the CIQ checkpoint to Singapore via the North-South Expressway.
apartments. Set in a low-density enclave of 65 units per acre, IWCity said the project will be an integral component of Tebrau Bay, designed to be a place where “your life belongs and revolves”.
Enveloped by a refreshing 6-acre green lung, Botanika aims to give homeowners an invigorating lifestyle experience, with thoughtfully planned public and private integrated spaces, stylish and intimate abodes, and spacious layout living space. Currently on offer are dual key four- and three-bedroom units with built-ups that range from 1,126sq ft to 1,488sq ft. Priced between RM640,800 and RM1.03 million, these units have received encouraging response from buyers since the soft launch in November last year. In conceptualising Botanika, IWCity said there were two key elements that the company was determined to deliver. The first is a distinctive ambience of greenery and water features. The second is to provide a broad selection of living spaces that offer residents luxury, comfort and an outstanding range of facilities. By creating an eco-friendly environment, IWCity believes it is not just playing its part in reducing the carbon footprint of the built environment, but also boosting the overall look and feel of Botanika by softening the building edge, minimising light and heat reflection and providing attractive spaces for families to mingle and spend quality time. Botanika is due to be fully completed by 2018, by which time residents will also benefit from improved connectivity resulting from upgrades on the existing Permas Bridge
Taking shape on 12-acres within this promising address is a luxury residential development called Botanika, which comprises three-storey villas and high-rise
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CONTRIBUTOR
The Golden Rules For A Profitable Property Investment By Dr Daniele Gambero
Property has always been looked at as the best and safest asset for a medium, long term investment. Real Estate is the kind of asset which will appreciate in a booming market and that which will safely maintain value during the doom. Of course, there are properties whichdeliver capital gains way above average; others that fulfill a good ROI (return on investment); special ones that grant both positive effects and of course some that perform poorly. There are no “secret rules” or “special tricks” to apply in having a good and profitable property investment; it is mostly a matter of using a lot of common sense and some basic golden rules.Or in other words, applying the fundamentals of Propenomy.
RULE 1
RULE 2
Perception And Reality
Fully Understand Current And Future Market Situations
Buying property is one of the most important decisions that a person canmake in their life. Taking this decision on the basis of perceptions is not advisable. Instead, what everyone should do is to complete a proper due diligence on the proposed property and its surroundings before putting down any kind of money. In development projects, there must always be a good “demand driver” that will help the future appreciation of your investment. A university, access to public transportation,a wide choice of amenities or future developments within the proximity will surely help raise values above average. In other words, always check facts and numbers! (Figure 1)
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Currently, everyone is shouting that we are on the verge of a property bubble with an overwhelming supply flooding the market. Yet, facts and numbers are actually telling us the exact opposite. There has been an oversupply of highend properties which will be absorbed by the market in the medium term; however, the supply of affordable homes, has been for years (and still is) far behind the actual demand. Recent studies and elaboration of the property 2014 Market Report released earlier this year by NAPIC, clearly shows how supply of new affordable homes have been, and will for a long
STATE
POPULATION AS AT 2013
PER CAPITA AVERAGE INCOME 2013
ASSUMED HH MONTHLY INCOME 20131
35% HH MONTHLY INCOME FOR MORTGAGE
AVERAGE AFFORDABLE VALUE PER STATE 20132
RM850,000 (according to different areas of course) will remain a very good product for investors and will guarantee good capital appreciation.
RM
RM
RM
RM
Going a bit deeper into this analysis, we can also estimate values and percentage of supply for the three main categories of homes offered to the 60% middle income earners. Following the numbers below, an investor can rest assured that his property will always have good demand in terms of both purchasing and rental. (Figure 2 & 3)
KUALA LUMPUR
1,730,000
79,752.00
10,633.60
3,721.76
815,000
SELANGOR
5,870,000
37,851.00
5,046.80
1,766.38
390,000
JOHOR
3,530,000
25,302.00
3,373.60
1,180.76
260,000
PENANG
1,660,000
38,356.00
5,114.13
1,789.95
390,000
PERAK
2,460,000
21,250.00
2,833.33
991.67
215,000
NEGERI SEMBILAN
1,080,000
33,033.00
4,404.40
1,541.54
340,000
860,000
34,109.00
4,547.87
1,591.75
345,000
KEDAH
2,060,000
16,316.00
2,175.47
761.41
170,000
PAHANG
1,580,000
26,759.00
3,567.87
1,248.75
280,000
TERENGGANU
1,120,000
23,285.00
3,104.67
1,086.63
240,000
KELANTAN
1,710,000
10,677.00
1,423.60
498.26
105,000
PERLIS
240,000
18,519.00
2,469.20
864.22
190,000
SABAH
3,540,000
18,603.00
2,480.40
868.14
190,000
SARAWAK
2,630,000
41,115.00
5,482.00
1,918.70
420,000
MELAKA
Figure 1 1.
Assumption that one of two income earner is 60% of the main one
2.
For the house value it has been assumed : 30 years tenure and 4.5% interest Per capita income Source : Department of Statistics
MaLaYsian weaLtH distRiBUtiOn - Fact FiLe Few cOnsideRatiOn On aFFORdaBLe HOUsing 20% of Houses as low/medium low cost
60% of Houses should have values from minimum RM 200 up to max RM 700 psf
20% of Houses free and open value RM/psf
MaLaYsia weaLtH distRiBUtiOn Lowest 20% Share 5.5% of Malaysian wealth
Highest 20% Share 41% of Malaysian wealth
MEDIAn 60% SHARE 53.5%
18,000,000 Figure: 2
STATE
AFFORDABLE HOME VALUE
KUALA LUMPUR
815,000
SELANGOR
390,000
SUB VALUES
SUPPLY DISTRIBUTITON
260,000
21.00%
420,000
24.30%
600,000
16.30%
260,000
26.30%
420,000
21.60%
600,000
15.40%
Figure 3
time, unable to catch-up with the demand. Affordable homes have very different values throughout Malaysia and are nowadays a highly hunted product. Considering that 60% of the Malaysian population (or 18,000,000 Malaysians) are the core of the middle-class - controlling a good 55% of the Malaysian wealth - we can determine that properties priced between RM200 to RM700 psf will be targeted by their purchasing appetites now and for the next several years. Published a few weeks ago, the table below indicates the average value of affordable homes all around Malaysia. Concentrating our attention on the more sustainable property marketsof Greater KL and Klang Valley, we can say that residential properties priced between RM250,000 and
RULE 3 Look For Demand Drivers I always recommend our developer clients to build according to demand, as purchasers would always ask, before confirming their purchase, what the demand factors are and where they come from. The No. 2 rule in good part, already elaborates on this point; but to give some specific examples, I suggest to carefully study the future alignment of the MRT Line 2, LRT Line 3 and all the proposed corridors of 12 BRT lines by SPAD in 2014. On top, we need to look at the incoming High Speed Rail which will have one stopover in Putrajaya Sentral before hitting its final destination in Bandar Malaysia. Putrajaya Sentral, located almost in the middle of the Southern Corridor of Klang Valley, is poised to become an intermodal monster transportation nod with MRT Line 2 terminal station, KLIA transit and HSR stopover, and not to mention, the bus station which will serve local and regional routes. Demand will be there for long and property values will surely go sky high and will give a good peace of mind to future purchasers and tenants.
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CONTRIBUTOR
RULE 5 Look For “Scarcity” If you want to be a smart investor, you should look for something that no one else has, in terms of design, size, type or features. Why this rule? For a very simple reason: imagine you are buying a residential apartment in a development which offers 1,000 units in two sizes: 800 sq. ft. and 1,300 sq.ft. with the smallest one making up 85% of the total number of dwellings. If you buy the 800 sq. ft. unit, you will surely pay less, but once the project is delivered, you will have a much higher competition in terms of sale and rental.
RULE 4 Identification of the correct location If you have followed the third rule, now you should know that affordable homes are one of the big drivers of property investment for the next several years. Identifying the right location means looking for the right property in the right place. All property experts are recommending to always look for accessible locations and I 100% agree on this. Mobility and accessibility are two extremely important factors which must be guaranteed. Of course we cannot miss the values of affordable homes and understand how property prices are strictly related to land cost which is proportional to availability of development land. If we keep this in mind, we will definitely understand how the Southern Corridor of the Klang Valley has started to become
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Figure 4
the next property development hotspot,and consequently the next property investment. (Refer to the image above to better understand the implications of land cost on property values) As investors, we surely want to have good possibilities of capital appreciation in a decently short period of time. Do not forget that property should be looked at as a medium-long term asset and consequently, we should expect a good appreciation of our investment within a timeframe of five to six years. My personal feeling is, when looking at the Southern corridor (Semenyih and Bangi), the expectation of a price trend is very similar to the one that we have just experienced in Puchong area. In 2006/2007, Puchong was a brown field with mostly industries and looked at as a “cheap” location without great future for property appreciation. At the time, you could still have bought residential properties below RM180 psf. But in less than 10 years, the residential psf value has more than doubled and Puchong has
become the new PJ, or an extension of it. By 2020/2023, the Southern Corridor is poised to follow the same trend and therefore, represents a very good location for highly profitable property investment. Additionally, we can also check which developers have already moved in to that area. The majority of the top 20 developers in Malaysia are all there with medium and big townships poised to become hot property hot spots. UMLand Bhd, being the first of them all, moved into the south with their Bandar Seri Putra township, and has been opening the road to the others. UMLand has been there since 1997 and is now one of the biggest players in the corridor. SP Setia, Eco World, MKH Bhd, UEM Sunrise, I&P and more have all development land, most of which are already under construction. (Figure 4)
Now in the Southern Corridor, a property investor can find a wide range of choices: from serviced apartments with a density that even pigeons will consider far too high to condominiums with low density and nice offering of features, from landed properties with built-up sizes worthy of a manor to more “human” sized ones. As a smart investor, you must do your proper homework or due diligence and check out all the projects to look for the “scarcity factor”. That will be the one to give you that extra bonus that willmake your property more appealing in the future compared to others and will allow you to get faster tenants or a faster sale. Below is an image with some references to follow in your research. (Figure 6)
RULE 6 Malaysia’s Two Currencies: Light And Heavy Ringgit As far as Iskandar Malaysia’s good demand driver for property development goes, it is the proximity to Singapore and the heavy S$ earners there - i.e., a middle class earner in Singapore with a salary of S$3/5,000.00 a month that can live like a king in Iskandar Malaysia. Figure 5
We can look at Greater KL and the Southern Corridor of Klang Valley with the same lens. More and more “Klang Valleinese” are seeking for a good paid job in the KL center or
surrounding areas while defining a location in the Southern Corridor of Klang Valley as their residential address. As my “SiFu”, Ho Chin Soon has explained in his recent talk, we have the possibility to earn “heavy ringgits” in KL while living and spending “light ringgits” in Kajang, Bangi or Semenyih. Is this true? Just ask the average banker that lives in Jalan Ampang and his colleague that lives in one of the localities mentioned. It is at least 15 to 20% lower for the latter.
You can have both for less than RM2.(image is taken from a menu of a local restaurant near the KLCC area) (Figure 5)
For dinner, just go to any of the mamaks in KL, Mont Kiara or Bangsar; be prepared to pay RM16 just for a roti kosong or RM18 for a nasi lemak. Now compare that to the same dishes in the Southern areas.
If you have any queries or would like to comment and ask for further information, the author, Dr Daniele Gambero, welcomes feed-back and questions at: daniele.g@reigroup.com.my
Lifestyle is the main drive to boost future demand of affordable homes in the southern corridor, and if you get it right, chances of seeing your investment doubling in less than five years are pretty high. Get in touch for more info if you need. Happy hunting!
Figure 6
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WEST MALAYSIA PROPERTY NEWS
WEST MALAYSIA PROPERTY NEWS
Sharing news and information about various issues related to the property industry from Peninsular Malaysia.
SkyWorld’s Bennington Residences Will Set Benchmark In Setapak SkyWorld Development Sdn Bhd. In conjunction with this launch, SkyWorld also officially opened the doors to their new RM12 million SkyWorld Property Gallery at SkyArena, Setapak to the public. 1
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ormerly a tin mining and rubber plantation area, Setapak has since come a long way from its origins. Originally the homeland of the Orang Asli and the Minangkabaus, Setapak has transformed from a sleepy municipality into thriving area with Greater Kuala Lumpur. 22 November 2015 saw the launch of the much anticipated Bennington Residences @ SkyArena by
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SkyArena is SkyWorld’s mega mixed-development project covering 28 acres, which aims to nurture a vertical community built around health and wellness and designed around a 9.4-acre multi-facility sports complex. Its full completion is slated for 2021, and will feature SOHO residences, a retail mall and commercial space, as well as a boutique hotel. The property is located in the heart of Setapak’s prime area off
Jalan Genting Kelang, and easily accessible from the DUKE highway. Just 7km from the Kuala Lumpur City Centre and its iconic twin towers, it is perfectly poised to take advantage of Setapak’s current investment appeal.
make wellness an everyday affair for all residences.” says Mr. Lee.
There is no other development in the Setapak area offering an integrated community living like Bennington Residences @ SkyArena.
SkyWorld owns prime landbanks in Setapak, Sentul ,Bandar Baru Sentul, Taman Danau Desa, Bukit Jalil and Setiawangsa with potential gross development value totalling more than RM5 billion.
“We are proud to share that Bennington Residences @ SkyArena boasts Malaysia’s first triplex Sky Lounge and Sky Gym. Bennington features two residential towers blocks with 580 luxurious units set upon two acres of rainforestthemed Sky Park and Gardens to
Some 70% percent of 1st Phase of Bennington units were already been booked have weeks before the launch on Sunday.
SkyWorld’s Property Launch and Gallery Opening was hosted by celebrity Xandria Ooi, and guests were treated to a special feng shui talk by Dato’ Joey Yap who attended the ceremony as SkyWorld’s honorary guest.
Malaysians Unhappy Over High Property Prices - Survey propertyguru.com’s country manager, said in the accompanying release. Sentiments were also expected to deteriorate further in the next six months, Fernandez added.
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issatisfaction over “expensive” home prices has increased to the worst level since 2013, with just one in four respondents of a survey expressing approval over developments in the property sector. According to the poll conducted by real estate website propertyguru. com, respondents also felt that the government was not taking the necessary steps to rein in prices of homes, with 78 per cent blaming Putrajaya for rising prices — up five percentage points from 2013. The severity of unhappiness also increased in the same period, with
the group that was least satisfied with property prices nearly doubling from 15 per cent in 2013 to 27 per cent this year. “Since the 1st half of 2013, there has been a constant decline in satisfaction among consumers. It has now hit the lowest thus far, with 75 per cent saying market conditions are unconducive. “Aside from the many reasons given, we have noticed another growing factor; with 1 out every three respondents citing difficulty in attaining approval for bank loans as a key source of dissatisfaction for them,” Sheldon Fernandez,
Although existing prices was the most-cited reason for the unhappiness, over half of respondents also said the “laggard economy” was contributing to their unease. Respondents also blamed the Goods and Services Tax (GST) introduced in April for worsening sentiments in the sector, even though homes are exempted from the consumption tax. Despite saying Putrajaya is not taking steps to mitigate the issue, fewer than one in three applied to join programmes introduced by the federal government to encourage home ownership. While 36 per cent said they did not qualify for such schemes as the 1Malaysia Housing Programme
(PR1MA), another 37 per cent said they did not try to participate. “Expensive” home prices have become a perennial problem in Malaysia, with most Malaysians saying that property is virtually unaffordable to most wage earners, creating the risk that the country could face a “homeless generation”. High and rising property value is also compounded by stricter lending rules introduced by Bank Negara Malaysia, which now considers borrowers’ ability to service all their debt when measuring their eligibility for additional financing. Difficulty in securing home loans also appears to have weighed on the success of affordable housing schemes, with housing developers citing it as among the main reasons for low uptake of such programmes. The propertyguru.com survey polled 1,483 Malaysians using online questionaires in the first six months of 2015
Over 200 Applications For Youth Housing Scheme Approved By Government scheme, which has more advantages compared to the other government housing schemes, as this scheme helps young couple to acquire their first home,” he said, as reported by Property Guru.
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eputy Finance Minister Datuk Chua Tee Yong revealed that out of 500 applications under the Youth Housing Scheme, over 200 have already been approved. “Young married couples are encouraged to apply for the
Chua also revealed that Bank Simpanan Nasional (BSN) was the sole bank appointed by the government to implement the scheme. As of 30 September, 273 loans amounting to RM69.28 million have been approved, since its introduction in July. Notably, the scheme offers significant advantages such as loans that do not require down payment
because borrowers receive full funding, with the government guaranteeing 10 percent of the loan.
“Buyers also get 50 percent exemption from stamp duty and loan agreement, thus further reducing initial costs incurred by borrowers,” said Chua. The scheme is open to married couples aged 25 to 40 with a monthly household income of not more than RM10,000. It has a maximum repayment period of 35 years or at the age of 65 for
homes priced from RM100,000 to RM500,000. To help ease their financial burden, young married couples are required to repay only RM200 per month during the first two years of their loan, according to Chua. The Youth Housing Scheme, which has a government allocation of RM96 million, is a smart partnership between BSN, the government, the National Mortgage Corporation (Cagamas Bhd) and the Employees Provident Fund (EPF). Borrowers can withdraw from their EPF Account 2 in order to repay the loan instalments as well as other related costs.
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WEST MALAYSIA PROPERTY NEWS
Report Ff Penang’s 2013 Structure Failure To Be Made Public Soon
T
he report by the commission of enquiry into the failure of two civil structures in Penang will be made public once it is presented to Penang Governor Tun Abdul Rahman Abbas. The report, according to Penang Chief Minister Lim Guan Eng, is expected to be submitted to the governor today following yesterday’s state exco meeting. He said the report which been completed would have to follow the guidelines before it can be revealed, according to the news reported by The Sun Daily. “We will make the report public once the procedures are completed,” he said at a press conference. In June 2013, the state was hit by two major incidents which caused a total of three deaths in a space of a week. The first major incident happened on June 6 when a ramp of the Second Penang Bridge project
Another incident was when the lightning arrestor on top of the UMNO building in Jalan Macalister gave way in a heavy storm on June 13 and killed Jahir Hussain Sulaiman, 46, and Lim Chin Aik, 44. 1 Lim was believed to be driving in front of Menara UMNO during the storm when the lightning arrestor fall and crashed into his car burying them some 40 meters deep into the ground. The body of Chin Aik, an economy rice seller was never recovered. Following the incidents, the state government set up a commission of enquiry on civil structure failures. Lim said the report will also be tabled in the upcoming state assembly sitting next month if time permits. “If not, we will table it in the sitting after that,” he said.
airport operator Malaysia Airports Holdings Bhd (MAHB) in a statement today. The new, four-times a week, service from Beijing Capital International Airport would operate using an Airbus A330-300 aircraft.
C
hina’s flag carrier, Air China, returned to the Kuala Lumpur International Airport after a three-year hiatus. The inaugural Air China flight arrived at KLIA last night, said
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for affordable housing applicants within the state to allow more people to apply for a housing loan with banks.
collapsed on a car, causing motorist Tajudin Zainal Abidin to be killed.
After 3 Years On Hiatus - Air China Returns To KLIA
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Penang’s New Housing Measure – “Only Developers Will Gain Profit”
“We are heartened by this return as it signifies the confidence Air China has in the strong growth opportunity that exist within the Malaysian market especially with regards to tourism,” said MAHB Managing Director Datuk Badlisham Ghazali.
Penang’s new measure on affordable homes will only benefit property developers and not the low-income earners, said Penang Gerakan Youth Legal and Public Complaints Bureau Chief Jason Loo, as reported by Bernama.
Loo, however, said the RM150,000 special affordable home category of the government did not help since these units have no car park and furnishing, which would cost another extra cash for homebuyers. Loo suggested to the government to lower the current prices of affordable homes to ensure that Penangites could afford to own such properties.
“The new measures, which raised the net household income, will only help property developers sell units,” he said.
“Blaming the federal government and also Bank Negara would not resolve the problem,” he said.
According to Loo, a recent survey revealed that most of the people still could not afford to acquire a home within the state, while 49 per cent of Penangites have a household income of less than RM 4,000 per month.
The new affordable housing measure saw the Penang government raise the household income ceiling for affordable homes priced at RM200,000, RM300,000 and RM400,000 from RM6,000, RM8,000 and RM10,000 to RM8,000; RM10,000 and RM12,000, respectively.
“The state government needs to address the problem by reducing the prices of property in all affordable home categories instead of helping the developer by increasing the monthly household income.” With the new housing measures, those earning less than RM4,000 still could not afford to buy their first home, he said. Last Monday, State Town and Country Planning and Housing Committee chairman Jagdeep Singh Deo announced the increase in the household income ceiling
Previous Page 1. SkyWorld Officially Opens RM12 million Property Gallery in conjunction with launch of Bennington Residences@ Setapak (from left to right:SkyWorld’s Members of Management- Chief Finance Officer: Mr. CS Siew , Group Deputy Managing Director: Mr. SK Lam, Group Managing Director: Datuk Ng Thien Ping and Chief Project Officer: Mr CS Lee.) 2. City of Kuala Lumpur. 3. Air China. This page 1. Datuk Chua Tee Yong. 2. Mr. Jason Loo.
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INTERNATIONAL PROPERTY NEWS
INTERNATIONAL PROPERTY NEWS
Catch up on the latest property and real estate news, views and analysis from across the globe featured
Elizabeth Quay, Perth Stadium Will Give Positive Growth to Properties in Perth “There are projects like Elizabeth Quay and the new stadium that are going to lift prices for the whole state. Then there are projects like the Forrestfield train line, which will have an effect concentrated on that area,” he explained. 1
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ajor Perth infrastructure projects could lift property prices in surrounding suburbs by as much as 20 per cent, according to an industry analyst as reported by PerthNow.com. Projects such as Elizabeth Quay, the new Perth Stadium and the Forrestfield train station would play a crucial role over the next 10 years in Shaping Perth’s long-term capital growth, said Valuer Gavin Hegney. “There are really two kinds of infrastructure that are going to affect property values,” Mr Hegney said.
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Mr Hegney said while the stadium might add 10 per cent to house prices in Burswood (current median $876,000), the Forrestfield train line could lift prices by 20 per cent (current Forrestfield median house price is $465,000). “The whole of Perth will benefit from the stadium, as it’s helping us become a destination location,” he continued. “Typically when you see a major piece of infrastructure like a train line you can expect up to 20 per cent out-performance.”
Mr Hegney said when it came to investing in property, getting into the market before the value of new infrastructure had been realised, was key.
“Nobody likes living next to a construction site,” he said. “But once a redevelopment has occurred, the value has already been added.” Momentum Wealth managing director Damian Collins agreed the new Forrestfield line would have a big impact. “The infrastructure that has the biggest effect on values are projects that affect day-to-day lives,” he said. “When investing for infrastructure, it’s not just about one project, but projects that bring revitalisation.
“For instance, the Scarborough redevelopment won’t just be about the Ocean Beach pool, but the new retail and business we see there.” Agents in the Burswood area have reported a recent increase in interest from football fans. Blue Chip Real Estate agent Barbara Holmes has sold a number of homes to fans wanting to be close to the stadium. “We’ve had a number of farmer buyers looking for city bases and they’ve been drawn to Burswood because they want to be close to the football,” she said. “It’s definitely giving the area a buzz and we expect the biggest boost when the stadium is complete,” he concluded.
Indonesia Extends Closure Of Bali Airport
Malaysia Is World’s Most Advanced Islamic Economy “Malaysia scores very highly on all these indicators and thus, Malaysia is currently the world’s leading Islamic economy,” he said during Thomson Reuters’ presentation of the global outlook of the Islamic economy at the 11th World Islamic Economic Forum (11th WIEF) today.
National Disaster Management Agency spokesman Sutopo Purwo Nugroho said the wind was blowing the ash in the westerly direction towards Bali.
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ndonesia will extend the closure of Bali’s international airport to Friday local time due to ash from a nearby erupting volcano, officials said yesterday, grounding hundreds of flights. Authorities had closed the Ngurah Rai International Airport on the resort island late Tuesday due to a large ash cloud drifting from Mount Rinjani, an active volcano on the nearby island of Lombok. Two smaller airports on Lombok island and East Java were also shut. “The (Bali) airport remains closed until 8.45am (0045 GMT) tomorrow (Friday local time). The wind has blown the volcanic ash towards Bali in such a way that it covers the sky around the airport, making conditions unsuitable for flying,” Bali airport official Yulfiadi told AFP. Airport manager Trikora Harjo said 692 flights, including 320 international ones, were cancelled between Tuesday and Thursday. Yulfiadi said 106 were scrapped on Wednesday alone. Australian airlines Virgin Australia and Jetstar cancelled all Tuesday flights, deeming conditions unsafe for flying, with Virgin also scrapping its roster for Wednesday. Thousands of stranded tourists were seen sleeping and sitting around at the airport, but Harjo said “everything’s going smoothly”.
“Seismic activity and eruptions of the volcano continue at a higher intensity,” he said. “There was an eruption this morning, where the volcano spewed ash 1,500 metres to the sky,” he added. Ash from a different volcano — Mount Raung on Indonesia’s main island of Java — stranded thousands of passengers on Bali for days during the peak holiday season in July. Air traffic is regularly disrupted by volcanic eruptions in Indonesia, which sits on a belt of seismic activity running around the basin of the Pacific Ocean and is home to the highest number of active volcanoes in the world, around 130. The main concern for airlines regarding volcanic ash is not that it can affect visibility but rather that it could damage jet engines, according to experts.
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alaysia is the world’s most advanced Islamic economy, far ahead of countries in the Cooperation Council for the Arab States of the Gulf (GCC), according to global intelligent business provider Thomson Reuters, reported by New Straits Times.
“We measure a country’s level advancement through six indicators, which are its level of governance, transparency, education, finance, corporate social responsibility and overall awareness,” said Thomson Reuters acting head of Islamic finance, Mustafa Adil.
The United Arab Emirates (UAE) and Bahrain is second and third after Malaysia, said Mustafa. “Going forward, we expect substantial growth of global Islamic finance to be driven by Malaysia and emerging Islamic economies namely Indonesia, Singapore, China and Egypt.” The three-day forum saw a record attendance of 3,069 delegates comprising global leaders, ministers, speakers, exhibitors and artists from 98 countries across five continents. The biggest delegation is from Malaysia, followed by Bangladesh, the United Kingdom, Indonesia and Singapore.
Ash turns into molten glass when it is sucked into aircraft engines and in extreme cases can cause them to shut down. AirAsia has also cancelled all flights in and out of Bali on Thursday, but is yet to make a decision on Friday services. 1. 2. 3.
Artist’s impression of Elizabeth Quay. The active volcano - Mt. Rijani erupting. Petronas Twin Tower - The icon of Malaysia
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BANKING AND INVESTMENT NEWS
$₤ € BANKING & $ INVESTMENT
NEWS
The banking and investment industry has a crucial role to play when it comes to property. Read about the most recent news and trends in this trade
CIMB Bank Made History By Introducing Online Travel Service
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IMB Bank Berhad made a significant history to the banking system in Malaysia by introducing CIMB TravelCurrency, the first online travel currency service in the country, as reported by The New Strait Times. Chief Executive Officer of Group Consumer Banking CIMB, Renzo Viegas said that today’s tech-savvy consumers have unique needs and high expectations which redefine how banks integrate their banking and financial services digitally.
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“With the marketplace now shifting towards digital, CIMB will continue to lead the market in digital offering and innovate the digital space with new products and offerings which serves to meet and exceed the evolving needs of consumers. “We have always led the way in the digital space and we are keen to be at the forefront where spotting ‘the next big thing’ is concerned.”
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“We are confident of CIMB TravelCurrency’s unique offering as it provides a new, convenient, fast and secure way for any customer to purchase foreign currencies online at competitive rates, making their travel departure less hassle,” he further explained.
They would also be able to view their desired currency’s exchange rate.
CIMB TravelCurrency provides customers, including non-CIMB Bank customers a convenient way to purchase various foreign currency notes online for international travel via CIMB Bank and CIMB Clicks internet banking page at competitive rates. It also allows customers to purchase their currency of choice by making their payment through CIMB Clicks or using the FPX channel which facilitates payment using other financial institutions’ online payment channels.
Most of the counters are strategically located at international airports, namely Kuala Lumpur International Airport (KLIA), KLIA 2, Penang International Airport, Langkawi International Airport, Kuching International Airport and Kota Kinabalu International Airport.
With CIMB Travel Currency, customers can purchase the currency online at their desired time and collect at any of the 11 CIMB Bank Currency Exchange locations.
Furthermore, customers are allowed to order their foreign currency up to 60 days ahead, providing them peace of mind against any currency flunctuations.
CIMB TravelCurrency strives to provide the most competitive rates for the top ten major currencies. However, a minimum one-day advance order is required for this service. This service is offered at no charge to all customers, with no commission or hidden fees incurred during collection.
BSN To Approve Housing Loan For 1,000 Youth By Year End 2
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ank Simpanan Nasional (BSN) is aiming to approve 1,000 of its Youth Housing Scheme (YHS) nationwide applications by the end of 2015, The Borneo Post reported. Disclosing this during BSN Sabah main branch opening in conjunction with its rebranding and YHS statelevel launch here yesterday, its Retail Banking deputy chief executive Datuk Yunos Abd Ghani said that the applications would be processed on a first-come-first-served basis based on individual’s qualification criteria. “We have only two months to go this year. The scheme was launched two months ago and, God willing, we are aiming for 1,000,” he said when met by the press after the launching ceremony. “Overall, 20,000 of this scheme are offered to youths nationwide as announced by the Prime Minister through Budget 2015,” added Yunos.
As an effort to encourage house ownership among Malaysian youths, Prime Minister Datuk Seri Najib Abdul Razak announced the YHS and appointed BSN as the development financial institution to carry out this scheme. According to Yunos, a total of 746 applications with a total financing of RM181.49 million has been received nationwide thus far. More than half, 405 amounting to RM101.53 million, applications have been approved so far and 331 applications with a total financing of RM82.33 million have been accepted. In Sabah, 58 applications with a total of RM12.65 million in financing have been received. Some 30 applications with a total financing of RM7.24 million have been approved, and 23 with a total financing of RM5.740 million have been accepted. However, 25 applications with a total financing of RM4.8 million from the state have been rejected so far. BSN is implementing the smart partnership with Cagamas Berhad and the Employees Provident Fund
(EPF) and married youths between 25 and 40 with a household income of not more than RM10,000 are eligible to apply for the scheme. Through this scheme, BSN will provide financing or loan of up to RM500,000 with a financing tenure of up to 35 years or at the age of 65, whichever is earlier to the eligible borrower. This scheme is limited to 20,000 buyers nationwide only on the “first-come-first-served” basis.
BSN will also provide up to 100% financial assistance of the purchase price and an additional 5% of purchase price to finance the cost for Mortgage Reducing Term Assurance (MRTA) or Mortgage Reducing Term Takaful (MRTT). The cost of financing documents and loans including legal costs is borne by the buyer. The Government will also give 50% of stamp duty exemption on the instrument of transfer agreements
and loan agreements. The Government is also to aid monthly instalments of RM200 per month for a period of two years from the date of first disbursement to the developer/vendor. Local Government and Housing Minister Datuk Seri Panglima Hajiji Noor launched the ceremony here yesterday. At the press conference, Hajiji expressed hope that the state would to receive more affordable housing schemes through government initiatives such as the 1Malaysia People’s Housing (PR1MA), Syarikat Perumahan Negara Berhad (SPNB) and National Housing Department (JPN). So far, the state government has more than 10,000 applications and expects to get part of the sum allocated to Sabah, Hajiji said. Also present at the event were BSN chairman Tan Sri Abu Bakar Abdullah and BSN Sabah Business Affairs director Hamdan Hussin.
More Measures To Address Housing Price Issues
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he government announced ten measures aimed at addressing affordable housing woes with a total allocation of RM2.96 billion in the Budget 2016, reported The Borneo Post.
Comparatively, Budget 2015 had three measures with a total allocation of RM1.94 billion, said MIDF Research, noting that the allocation in Budget 2016 is up 52 percent and an indication that the government is seriously looking into the affordable housing issue. The research house noted that the real property gain tax (RPGT) remains unchanged and the developer interest bearing scheme (DIBS) is still disallowed.
“We are neutral on the unchanged RPGT rate as this means that the Government may view that the current policy is working and there are no further cooling measures needed. Having said that, the DIBS ban stays and this means little cheer for property developers as well,” it said.
Meanwhile, Bank Negara’s latest statistics revealed that ‘Applied Loan for Purchase of Property’ fell to RM203.13 billion during the first eight months of 2015.
The First Half 2015 Property Market Report by National Property Information Centre (NAPIC) showed that the property transaction value in 1H 2015 fell to RM77.08 billion.
They (MIDF) reiterate their view that lower on-year sales trend is likely to continue in Q4 CY2015 and Q1 CY2016.
With this, MIDF Research believes that the sector fundamentals are still lacking.
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BANKING AND INVESTMENT NEWS
Never Post Your Boarding Pass Picture Online Krebs said there were sites online that could read the data stored inside a boarding pass barcode. Decoding a barcode is as easy as uploading an image of it to a free online barcode reader.
BUDGET 2016 WILL BE ANNOUNCED TODAY
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rime Minister Datuk Seri Najib Tun Razak will table the 2016 Budget in Parliament later today, at 4.00 PM.
The Budget is said to be the most difficult to be drafted due to the challenging global environment but has outlined measures the government is taking to safeguard the Malaysian economy. According to the statements gathered by some of the ministers earlier, 2016 Budget will consist 3 main things as the following:1.
There will be something for everybody especially the lower income group as well as the middle class but the people must not expect goodies that are not realistic.
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The focus would be on strengthening the resilience of the economy, managing the impact of external vulnerabilities and safeguarding the well-being of the people.
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Measures include those to help offset the rising cost of living, support the private sector, enhance human capital development and increase productivity
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ave you ever thought of posting a photo of your boarding pass online, especially in social media sites such as Facebook or Instagram? Here is our advice – do not do it. The Borneo Post reported that Technology security expert Brian Krebs, who writes for a renowned cybersecurity news site Krebs on Security, took to his blog last month to warn travellers against posting a picture of their boarding pass online in a bid to deter travellers from sharing private information. Krebs said information contained in the boarding pass such as full name, origin, destination, frequent flyer number and barcode could be exploited by cyber thieves with access to private details. An attacker can also use such details to change travel itineraries.
“Two-dimensional barcodes and QR codes hold a great deal of information, and the codes printed on airline boarding passes may allow someone to discover more about you, your future travel plans and your frequent flyer account,” Krebs wrote on his blog posted Oct 6. He warned against simply throwing away a boarding pass, suggesting that travellers shred them after use.
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Beside the name and other personally identifiable information, an attacker could use the frequent flyer number to see any flights booked to the account. Information contained on the boarding pass would make it easier for an attacker to reset the PIN number.
“The next time you’re thinking of throwing away a used boarding pass with a barcode on it, better toss it into a document shredder instead,” he said. Krebs relayed a story from a reader who was able to use a picture of his friend’s boarding pass to get information and access to the friend’s itinerary account on an airline website. “Not only I could see this one flight, but I could also see other future flights that are booked to his frequent-flier number,” he wrote the reader as saying. The Borneo Post ran a quick check – using a boarding pass of a local airline – on an online barcode reader site. Using only image of the barcode instead of the whole boarding pass, the programme managed to note the passenger’s full name, travel itineraries including frequent flyer number, flight and seating arrangement. Decoding the barcode only required uploading an image of the boarding pass. Paul Sim, a system and network security analyst for an international firm at Cyberjaya, echoed Krebs’s advice against posting image of boarding pass online. He said data contained in airplane tickets could be exploited to get other information such as home address, phone number and others. He added that a cyber attacker could find ways to unlock one’s PIN number using the security question. “If your online security question is about your mother’s maiden name, where you were born or where you live, a quick check through your friends and relatives in Facebook could do the trick,” he said. Sim reminded users to be cautious when sharing information and images online as content in the internet could be shared countless times even by trusted network.
New MPERS To Potentially Bring Negative Impact On Private Property, Plantation Firms – EY changes taken to profit or loss,” he added. “Malaysian companies adverse to the idea of measuring their oil palm trees at fair value,” he continued.
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he new Malaysian Private Entities Reporting Standards (MPERS) could leave some adverse impacts for private property and plantation companies as this new standard will be adopted by January 1, next year. The Borneo Post reported that according to the accounting firm Ernst & Young (EY), the introduction on the new standard does have potential of negative impacts.
“Property developers and plantation companies will be significantly affected by the new financial reporting standards,” said Yong Voon Kar, managing partner of EY East Malaysia. “Private entities with significant intangible assets, goodwill or investment properties will also be affected,” he continued. EY hosted a two day seminar yesterday to update local small medium enterprise (SME) on the new MPERS that will replace the current PERS effective first day of January next year. MPRES is principally based on the
International Accounting Standards Board (IASB). International Financial Reporting Standards (IFRS) for SME issued in July 2009, except for the requirement on income tax and property development activities. With the issuance of MPERS, private entities have the option to apply the MPERS or the Malaysian Financial Reporting Standards (MFRS) in its entity. According to EY Malaysia Technical Partner Stephen Oong, when the new standards took place, borrowing costs incurred by a property developer must be expensed to profit or loss under MPERS as such borrowing costs must be capitalized. “If property developer borrowed substantial amounts to acquire land and to fund development activities, their bottom line will be significantly affected,” he emphasized. Oong also pointed out that it is common for companies to borrow and use borrowings for the construction of factories, plants and buildings. Under MPERS, all such interest incurred must be expensed and cannot be capitalized as part of the costs of these assets under construction. “Plantation companies will not be spared as under MPERS, and are required to measure all their biological assets at fair value at each reporting date, with fair value
“The irony is that public listed companies applying MFRS do not have to fair value their oil palm trees, instead are required to measures their trees at cost or at valuation. The cost model option is not available for private entities,” He further stressed that “private entities with significant intangible assets or goodwill” will also be affected as under the current accounting framework for private entities, intangible assets with infinite lives and goodwill need not be amortized and hence there are no amortization charges taken to profit or loss. “However, under MPERS all intangible assets and goodwill will be presumed to be amortized over 10 years. For such companies, this can be a nightmare to their bottom line,” Oong said. Companies with significant investment properties will now have to measure such properties at fair value.
Previous Page 1. Currency exchange made easy with CIMB Travel Currency. 2. Bank Simpanan National. This Spread 1. Malaysia Prime Minister Datuk Seri Najib Razak. 2. Passport Illustration Photo. 3. Ernst & Young.
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HOT TOPIC
Propenomy of Budget 2016:
Common Sense Applied 2015 has been the year of low crude oil prices and very expensive US Dollar.But it’s also the year of the 11th Malaysia Plan which will hopefully take Malaysia to fully developed country status with high per capita income. Readingthe recently announced Budget 2016 from the very beginning, follows the main direction of developing a positive and balanced economy. Its title “Prospering the Rakyat”, reveals the true concept behind the 39 pages and 201 items contained into the country planning for 2016. Malaysia needs higher income and this will only come through a well-planned economic growth, fairer wealth distribution, fair tax collection and proper infrastructures development.
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eading through the Budget speech,I was surprised and disappointed at first, as I couldn’t find anything really impactful. But by trying to put in some sense and reading it again forthe second and third time, the direction became more clear. Such important things touched upon were: the clarifications on GST and its slight amendment, the target of a fiscal deficit down to 3.1% of GDP, the definition of a Malaysian Vision Valley in the Southern Corridor of Klang Valley, the long awaited for BRT (Bus Rapid Transit) for Kuala Lumpur and Kota Kinabalu, the recognition of the crucial role of SMEs and the introduction of a new strategic strengthening action to promote them, the confirmation of approved infrastructures and announcement of new ones everything seems to move towards better welfare for the middle-class, which constitute almost 60% of the Malaysian population. The formula is actually not that hard to understand; create a wealthier middle-class, and domestic consumption will keep spurring economic growth to which could be read as a strong push towards a higher purchasing power.
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At first glance, purely from a property point of view, it might appear as ifthere is nothing really admissible in this Budget. However, after a better review of it you can actually find several drivingforces for a strong and healthy growth of the Property Market. First, the ‘lion’s share’ that East Malaysia has finally bagged for next year. All the proposed measures will generate a more positive growth for our two most eastern states, Sabah and Sarawak. Industrial development will grow through a strengthening of the Semalaju Industrial Park and the Sandakan Palm Oil Industry; better mobility will be also gained through the RM28.9 billion which should be enough to complete the much anticipated 1,796 km, PanBorneo highway. All this will generate a stronger grow of economic activities, and as a result, will create new jobs and raise purchasing power. One of the first sectors benefiting from these actions will be the residential development sector, which will once again become in higher demand. Basically, the whole budget promotes economic growth which generates new jobs, which generates higher income, which generates higher consumption and demands for goods and properties. It is simple common sense and it could really work.
“the whole budget promotes economic growth which generates new jobs, which generates higher income, which generates higher consumption and demands for goods and properties”
Another interesting point of this Budget is the forecast of more than 30 million tourist arrivals in 2016. As I always say, tourism generates a big turnover in terms of visitors spending and for 2016, we are expecting a whopping RM103 billion of generated receipt, underlining once more the importance of this industry for Malaysia. What’s also interesting to see is that the budget is also putting attention towards raising the quality of touristic services through the implementation of “hospitality education”. Well done!
too many) agencies will actually deliver next year. In the past few Budgets, we have all seen big numbers of promised homes which have not yet been delivered and might have actually caused a bit of embarrassment to the Government. A better quality of implementation through a general reorganization of the many agencies in charge of this sector will surely help for the future years’ deliveries; let’s see if the Government will take any sort of pro-active action towards this direction.
Education and health care can be found in several pages of this budget and if properly implemented, will again generate a faster economic growthfor the country and become an accelerator of our GDP increase factor.
In other words, this Budget 2016 shows good intention by the government in moving forward. Of course, the Rakyat will have to contribute with its efforts, but Putrajaya must lead! Let’s wait and see what happens….
Strong attention is given to the B40 household and this will bring a good part of them into a higher income zone, spurring again the domestic consumption and related industries.
My usual 5 cents that everybody can discuss, agree or disagree. Please forward your comments to daniele.g@reigroup.com.my
Meanwhile, on the affordable housing chapter, I prefer to wait and see what the various (probably
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COFFEE TALKS
Sabah Property Market: A Debate Between Minister And Shareda
Not Easy To Make Decision, Easier To Do Nothing?
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’ve forgotten how many times I’ve asked myself: ‘is this property really worth buying?’ Milan Doshi asked his Facebook friends about the greater fear between the “The Fear of Losing Money” versus the “The Fear of Missing an Opportunity to Make Money.” Many of his friends replied and majority opted for the number two, the fear of missing an opportunity to make money. I believe a majority of his friends are already property investors. The reason is because I think most people in the world today would answer the former – ‘the fear of losing money’. This is a much easier decision to make and it’s also pretty much the same as doing nothing. Property investment is not always rosy. Most of the time, we would rather hear what we want to hear. For example, those who fear in investing on something so expensive would invariably surround themselves with lots of horror stories about property investment. For those who have decided to invest instead of following, they would definitely be reading and surrounding themselves with like-minded individuals. The final group of individuals may just be that group which believes earning profits is
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extremely easy and thus expose themselves to either sudden huge losses or wins. I have found out from many friends that the worst is always to be honest with ourselves. For the employees, it is always the company paying them too little but actually, if they are good enough why not join a company which will pay them better salaries? For fresh graduates, it is a shame to be seen driving a Proton and they would somehow rather scrape through pennies every month just to drive that entry level Japanese marque. For potential property investors, it’s a never ending search for the ‘perfect’ property. They want to know what’s the best value? Think again seriously about Milan’s question. Is it ‘The Fear of Losing Money’ or “The Fear of Missing an Opportunity to Make Money.” Then, answer it honestly. I think it will absolutely affect our future.
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tate Ministry of Local Government and Housing Minister Datuk Hajiji Noor has asked the developers in Sabah to reduce the prices of some houses as the developers have been getting profit margins exceeding 30 percent for them. This is needed because people are finding it tougher to buy a home to call their own. The state Housing Controller, through the Local Government and Housing Ministry deputy permanent secretary Rayman Loudrize, has also informed developers to reduce the prices of their new projects or this will result in their housing development licence, advertising permits and price list applications to not get approved. Sabah Housing and Real Estate Developers Association (SHAREDA) president Datuk Francis Goh responded by saying that the 10% reduction was unreasonable as developers were already complying with the 30% cap in profit margins. This new order would most probably discourage developers from launching new projects.
Besides that, despite the fact that the 30% profit margin was not a written rule, Sabah developers have always worked closely with quantity surveyors to ensure the proposed selling prices are below the cap. Due to this order, the developers have no choice but to go to court to seek a judicial review on the Housing Controller’s order. I think both parties would have their own sides of the story. With a slowing demand and the prudent lending approvals from the banks, the total property transactions is already on the way down. I think there is some truth in the fact that market forces may dictate prices. However, I think it is important that these analysis be quantified. Not just one side but both sides. Instead of just speaking, why not show some numbers. Perhaps there are some hidden costs somewhere? The more transparent all parties are, the better it is for an objective discussion to happen. The benefit is definitely the people themselves. I think this is something that everyone has been asking from the government anyway.
WHITE HORSE
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TAMAN FORTUNA RM 1,500,000
FO
Penampang Tenure : Leasehold Land Area : 4,600 sq ft Built-up sizes : 2,200 sq ft (6B + 5B) Unit Type : Intermediate Corner Occupied : Tuition Centre Furnishing : Lock/Stock/Barrel
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SA
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* Nearby to QE, Museum, JKKN, 5 mins to KK Times Square & Lintas. * Big Car Porch can park at least 5 cars & a fish pond.
* Near to KK airport * 15km to KK city * Nearby wholesale market * 5km to Lido, Lintas
Joel Low (REN 13968)
Tel: +60 16-831 2381
HARTAMAS HEIGHT CONDOMINIUM RM450,000
Kepayan Tenure : Leasehold Built-up size : 900sft Rooms : 3 Rooms + 2 Bathroom Unit Type : Corner Occupied : Owner Furnishing : Partly Furnished Maintenance Fee : RM200
Stephanie Siew (REN14451)
Tel: +60 12-828 9986
LE SA R FO
(REN 13968)
Tel: +60 16-831 2381
THE LOFT B
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Tel: +60 16-831 2381
Joel Low
* Air-cond + heater, sea & airport view. * Swimming & Gym facilities.
RM 1,600,000
KK Time Square Title : Commercial Strata Built-up sizes : 1,400 sq ft ( 3B + 2B) Maintenance Fee : RM0.30 psf Rental Price : RM 3500 – 4500 Furnishing : Fully Furnish Floor : 8th Floor
* Superb view of sea, golf & D’banyan bungalows. * Above Imago Shopping Mall & 24 hours access card only with security.
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(REN 13968)
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Joel Low
Kepayan Title : Commercial Strata Built-up sizes : 1255 sq ft Maintenance Fee : RM0.20 psf Rental Price : RM 2,000 – 2,200 Floor : 10th Floor Specs : 3 Bedrooms + 2 Bath Furnishing : Partly Furnish with kitchen cabinet
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* Garden & Swimming Pool view with own private balcony landscape. * Limited Edition Unit. * Above Imago Shopping Mall & 24 hours access card only with security.
RM 650,000
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KK Times Square Title : Commercial Strata Built-up sizes : 1,128 sq ft Maintenance Fee : RM0.30 psf Rental Price : RM 2000 – 2500 Furnishing : Fully Furnish Floor : 4th Floor
SURIAN RESIDENCE CONDOMINIUM
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RM 1,100,000
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THE LOFT B, STUDIO
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* 5km from KK city * 5km to Damai * Nearby KPD market, Likas Sport Stadium * Schools (SRJK St. James)
Joel Low (REN 13968)
Tel: +60 16-831 2381
INDAH COURT APARTMENT, LIKAS RM 398,000
Sepanggar Tenure : Leasehold Built-up size : 1200sqf Rooms : 3 Rooms + 2 Bathroom Unit Type : Intermediate Occupied : Tenanted Furnishing : Non Furnished Maintenance Fee : RM150/mth
Stephanie Siew (REN14451)
Tel: +60 12-828 9986
www.PropertyHunter.com.my
57
FO
RM 299,000
Penampang Tenure : Leasehold Built-up size : 1,043 sf (3+2B) Unit Type : Intermediate Occupied : Vacant Furnishing : Unfurnished Maintenance Fee : RM0.06 psf
FO
R
SA
LE
* Third Floor * Well maintained * Near to Yue Min School, Sekolah Keb. Penampang, Yue Sang Supermarket & etc. * Easy Access to Bundusan, Lido, Donggongon, Putatan & etc.
* Easy access to Foh Sang, Damai, Lintas, KK area & etc * Nearby restaurant & supermarket * Quiet Surrounding
www.PropertyHunter.com.my
Calvin Cheong (REN14009)
Tel: +60 12- 868 6155
2 STY SEMI DETACHED, TAMAN WINNER, LUYANG RM 1,600,000
Luyang Tenure : Leasehold Land Area : 4,050 sf Built-up size : 2,500 sf (3+2B) Unit Type : Intermediate Occupied : Vacant Furnishing : Unfurnished
Calvin Cheong (REN14009)
Tel: +60 12- 868 6155
LE SA R
RM 1,550,000
FO LE
Calvin Cheong (REN14009)
Tel: +60 12- 868 6155
2 STOREY TERRACE, TAMAN RIMBA, MENGGATAL RM 690,000
Menggatal Tenure : Leasehold Land Area : 2,623 sf Built-up size : 2,227 sf (3+3B) Unit Type : Corner Occupied : Vacant Furnishing : Unfurnished
* Newly Constructed * OC Obtained * Located at Bandar Sierra, Menggatal and just next to Grand Merdeka Mall, Sierra Bandar Hub, CKS Supermarket and etc.
LE
TAMAN PENAMPANG PHASE 2, PENAMPANG
SA
Tel: +60 12- 868 6155
* 3 acre eco-deck designed as an oasis of green sanctuary with recreational facilities enhances the existing view of the enchanting horizon. * Recreational Facilities included Cycling Path, Lawn, Gymnasium, Swimming pool, Children’s Playground, BBQ Terrace & Half Basketball Court
SA
(REN14009)
R
LE SA R
Calvin Cheong
THE LOFT B, KK TIMES SQUARE KK Times Square Tenure : Leasehold Built-up size : 1,755 sf (3+2B) Unit Type : Intermediate Occupied : Owner Furnishing : Unfurnished Maintenance Fee : RM0.35 psf
FO
Damai Tenure : Leasehold Built-up size : 2,965 sf (3+5B) Unit Type : Corner Occupied : Owner Furnishing : Fully Furnished Maintenance Fee : RM0.26 psf
R
FO
RM 2,300,000
* Well located, close to shops, wet markets, schools, sports complex, golf courses, hospitals * Well built and managed by an established and reputable developer, the Wah Mei Group * Low rise and low density, only 10 stories and 72 units * Easily accessible to come in and go out * Quiet and litter-free environment
58
PUTERI DAMAI CONDOMINIUM, DAMAI
FO
R
SA
LE
www.propertyhub.com.my
Well maintained with high quality fixtures in kitchen (with fridge, oven & microwave oven), some wall with wallpaper (dining & master room). Wet kitchen & Laundry room outside of dry kitchen. Maid’s room outside entrance. High ceiling (11feet).
Calvin Cheong (REN14009)
Tel: +60 12- 868 6155
TAMAN BUKIT SEPANGGAR RM 1,280,000
Sepanggar Tenure : Leasehold Land Area : 4,062 sf Built-up size : 2,200 sf (4+4B) Unit Type : Intermediate Occupied : Vacant Furnishing : Fully Furnished
Calvin Cheong (REN14009)
Tel: +60 12- 868 6155
NEXUS RESIDENCES KARAMBUNAI POOL VILLA
FO
RM RM 1,050,000
Nexus Resort and Spa, Karambunai Tenure : Leasehold Land Area : 3,867 sf (2+2B) Unit Type : Corner Occupied : Tenanted Furnishing : Fully Furnished Maintenance Fee : RM0.20 psf
FO
R
SA
LE
Situated inside the compound of Nexus Resort and Spa, the Pool Villa blends harmoniously with nature. Each Pool Villa of Exotic Borneo design fronts several views. The ocean, waterway or rainforest. Each villa is enchanted with a serene outdoor garden, private pavilion and soothing water features.
Located at the city center which just a steps away from the city’s major business, entertainment, shopping and dining spots. Surrounded by Warisan Square, Centrepoint, Api-Api Centre, Filipino Market, KK City Waterfront, Oceanus Mall, Imago & more. Good Investment Opportunity
Calvin Cheong (REN14009)
Tel: +60 12- 868 6155
MARINA COURT CONDOMINIUM, KOTA KINABALU RM 950,000
Kota Kinabalu Tenure : Leasehold Built-up size : 1,197 sf (3+2B) Unit Type : Intermediate Occupied : Vacant Furnishing : Fully Furnished Maintenance Fee : RM0.20 psf
Calvin Cheong (REN14009)
Tel: +60 12- 868 6155
LE SA R FO
(REN15289)
Tel: +60 19-831 3168
2 STOREY TERRACE, TAMAN MALAKUN, PENAMPANG
LE
Tel: +60 19-831 3168
Chen Li Kun
Completion Date : 2015 Title : Residential Tenure : Leasehold Land Area : 1,468 Sq Ft
RM 660,000
Penampang Tenure : Leasehold Land Area : 1,967.12 sf (3+2B) Built-up size : 2,000 sf Unit Type : Intermediate Furnishing : Fully Furnished Occupied : Owner
Taman Malakun offers sub-urban living at the outskirts of Kota Kinabalu City. The flood free elevated hilltop located in Kampung Kuai on the riverbank of the tranquil Petagas River.
Calvin Cheong (REN14009)
Tel: +60 12- 868 6155
PUTERI DAMAI CONDOMINIUM, DAMAI
LE
(REN15289)
SA
Chen Li Kun
Telipok No. of Bedrooms : 3 No. of Washrooms : 3 Status : Non- Bumi Lot
SA
R
SA
LE
Completion Date : 2015 Title : Residential Tenure : Leasehold Land Area : 1.468 Sq Ft
RM 480,000
R
FO
Telipok No. of Bedrooms : 3 No of Bathrooms : 3 Status : Bumi Lot
FO
RM 480,000
TAMAN RIMBA, PHASE 1
R
TAMAN RIMBA, PHASE 1
RM 1,816,000
FO
R
SA
LE
www.propertyhub.com.my
Damai Tenure : Leasehold Built-up size : 2,270 sf (3+4B) Unit Type : Intermediate Occupied : Owner Furnishing : Fully Furnished Maintenance Fee : RM0.26 psf
*Well located, close to shops, wet markets, schools, sports complex, golf courses, hospitals *Well built and managed by an established and reputable developer, the Wah Mei Group *Low rise and low density, only 10 stories and 72 units *Easily accessible to come in and go out * Quiet and litter-free environment
Calvin Cheong (REN14009)
Tel: +60 12- 868 6155
www.PropertyHunter.com.my
59
Kasigui Completion Date : 2014 Land Area : 2,080 Sqft No. of Units : 46 Built-up sizes : 1,600 Sqft Bedrooms : 4 Bathrooms : 3
FO
R
SA
LE
* New house with O.C obtained unfurnished condition. * Locted at Kasigui area along Jalan Banting Kibabaig. Easy access to Luyang, Donggongon and Inanam.
* This in intermediate Corner unit with basic lights and fans has been installed. * Unfurnished condition * Located nearby MARDI, UiTM and Indah Permai.
www.PropertyHunter.com.my
Bruce Fong ( REN08976 )
Tel: +60 19-820 2218
TAMAN V24 KKIP TERRACE INT – CORNER ( BUMI ) RM 550,000
KKIP Sepangar Completion Date : 2014 Title : CL Land Size : 2,422 Sqft Built-up sizes : 1,900 sqft Bedrooms : 3 + 1 Bathrooms : 3
Bruce Fong ( REN08976 )
Tel: +60 19-820 2218
LE SA R FO LE
Bruce Fong ( REN08976 )
Tel: +60 19-820 2218
LIKAS DETACHED HOUSE RM 1.5 Million
Jalan Tuaran Title : Town Lease Tenure : Leasehold – 2,110 Land Area : 0.121 acres Build Up Area : 1,800 Sqft Bedrooms : 3 Bathrooms : 3
* This unit is located nearby to SRJK Chung Hwa Likas with easy access to Jalan Tuaran. * Unit is with old structure and need to be refurbished or renovation. * Town lease has been extended until year 2110.
LE
FO
RM 780,000
SA
TAMAN KASIGUI PHASE 3B SEMI DETACHED
SA
Tel: +60 12-828 9986
* New house with O.C obtained unfurnished condition. * Locted at Kasigui area along Jalan Banting Kibabaig. Easy access to Luyang, Donggongon and Inanam.
R
LE SA
(REN14451)
Kasigui Completion Date : 2014 Land Area : 2,080 Sqft No. of Units : 46 Built-up sizes : 1,600 Sqft Bedrooms : 4 Bathrooms : 3
FO
FO R
Stephanie Siew
TAMAN KASIGUI PHASE 3B SEMI DETACHED RM 780,000
R
RM1600 / month
Jalan Sulaiman Tenure : Leasehold Built-up size : 1100sqf Rooms : 3 Rooms + 2 Bathroom Unit Type : Intermediate Occupied : Vacant Furnishing : Partially Furnished
* 15km from KK city * 10km to Damai * Nearby 1 Borneo shopping mall, UMS
60
1 BORNEO CONDO, SULAIMAN
FO
R
RE N
T
www.propertyhub.com.my
This house is located at Putatan and attached to main road. Walking distance to Banks, Servay Supermarket and Inti College.Built on NT land with 1 storey detached house and a warehouse for storage purpose.
Bruce Fong ( REN08976 )
Tel: +60 19-820 2218
KG. SIPANGIL SINGLE STOREY DETACHED HOUSE RM 1.98 Million
Putatan Title : Residential (Bumi) Tenure : Freehold Land Area : 11,761 Sqft Built Up Area : 2,100 Sqft Bedrooms : 5 Bathrooms : 5 Condition : Partially Furnished
Bruce Fong ( REN08976 )
Tel: +60 19-820 2218
Tel: +60 19-820 2218
TAMAN RIMBA DOUBLE STOREY TERRACE Bandar Serria Title : CL99 Tenure : Leasehold – Land Area : 1468sqf Build Up Area : 1373 Sqft Bedrooms : 3 Bathrooms : 3 Unit Type : Intermediate lot
FO
R
SA
LE
* 10km to Menggatal KK city * Nearby Grand Merdeka Shopping Mall
Title : Residential Tenure : Leasehold Type : Double Storey Intermediate Floor Area : 1,920 Sq Ft
Stephanie Siew (REN14451)
Tel: +60 12-828 9986
LE SA R FO * Located at Penampang * Nearby Merdeka supermarket, Lido market * 2KM to KK high school
UJANA KINGFISHER RM 550,000
Kingfisher No. of Bedrooms : 3 No. of Bathrooms : 3 Status : Bumi Lot
Chen Li Kun (REN15289)
Tel: +60 19-831 3168
RM980,000
Stephanie Siew (REN14451)
Tel: +60 12-828 9986
BUNGALOW HOUSETECK GUAN VILLA RM1,800,000
Penampang Title : CL99 Tenure : Leasehold Land Area : 7770sqf Built-up sizes : 3000sqf Asking Price : RM1,800,000
LE
FO
RM 480,000
* Excellent location at KK City * Above Imago Shopping Mall & 24 hours access card only with security
LE
( REN08976 )
SA
Bruce Fong
SA
R
SA
LE
* Taman Yun Kiong is located at Luyang area and nearby to Lintas Square & Plaza, Klinik Kesihatan Luyang, Foh Sang and Bukit Padang. * Renovated and extended unit with partially furnished.
THE LOFT KK TIMES SQUARE Kota Kinabalu Title : Strata Built-up sizes : 1089 sq ft Bedroom : 3 Bathroom : 2 Maintenance Fee : RM0.30 psf Unit Type : Intermediate Furnishing : Non furnish Floor : 9th Floor
R
FO
Luyang Title : Commercial Strata Tenure : Freehold Land Area : 3,190 sqft Build Up Area : 2,800 sqft Bedrooms : 4 Bathrooms : 5 Store Room : 1
R
RM 1.8 Million
FO
TAMAN YUN KIONG SEMI DETACHED
FO
R
SA
LE
www.propertyhub.com.my
Title : Residential Tenure : Leasehold Type : Double Storey Intermediate Land Area : 2,197 Sq Ft
Stephanie Siew (REN14451)
Tel: +60 12-828 9986
TAMAN KINGFISHER 2A RM 675,000
Kingfisher No. of Bedroom : 4 No. of Bathrooms : 3 Status : Non-Bumi
Chen Li Kun (REN15289)
Tel: +60 19-831 3168
www.PropertyHunter.com.my
61
RM530,000
R FO LE SA R FO 88 Marketplace is a shop-offices enclave located at Kepayan, Kota Kinabalu. This commercial areas like Taman Ridgeview and Taman Sri Kepayan and also commercial area of Sri Kepayan Commercial Centre. It has 2 and 3 storey shop offices with standard units having a built-up area of around 1,200 sf.
www.PropertyHunter.com.my
Chen Li Kun (REN 15289)
Tel: +60 19–831 3168 Email: likun.chen@ propertyhub.com.my
3 STY SHOPLOT, 88 MARKETPLACE, KK RM 2,172,000
Kepayan Tenure : Leasehold Built-up size : 1,200 sf Unit Type : Intermediate Occupied : Tenanted Furnishing : Unfurnished Maintenance Fee : RM 0.10 psf
Calvin Cheong (REN 14009)
Tel: +60 12- 868 6155 Email: calvin.cheong@ propertyhub.com.my
LE SA R FO LE
TAMAN MAKMUR RIA RM535,000
Menggatal No. of Bedrooms : 3 No of Bathrooms : 3 Status : Non-Bumi Lot
Chen Li Kun (REN 15289)
Tel: +60 19–831 3168 Email: likun.chen@ propertyhub.com.my
3 STY SHOPLOT, PLAZA KINGFISHER RM1,650,000
Kingfisher, KK Tenure : Leasehold Built-up size : 3,671 sf Unit Type : Intermediate Occupied : Tenanted Furnishing : Unfurnished Maintenance Fee : RM 0.10 psf
Near to Hospital Likas, UMS, Yayasan Sabah, One Borneo, Taman Kingfisher, Taman Ujana Kingfisher, Simon Fung Primary School & etc. Neighbourhood nearby are New Sabah State Administrative Centre, Proposed Prima Housing, New Flyover (Under construction) & New Bridge
LE
TAMAN RIMBA, PHASE 2
SA
Tel: +60 19–831 3168 Email: likun.chen@ propertyhub.com.my
Completion Date : 2015 Title : Residential Tenure : Leasehold Type : Double Storey Land Area : 1,904 Sq Ft
SA
(REN 15289)
R
Chen Li Kun
FO
Penampang No of Bedrooms : 2 No of Bathrooms : 3 No of Car Park : 1
Telipok No. of Bedrooms : 3 No. of Bathrooms : 3 Status : Non-Bumi Lot
Completion Date : 2015 Title : Title Tenure : Leasehold Type : Double Storey, Land Area : 1,468 Sq Ft
62
RM440,000
R
SA
LE
Title : Residential Tenure : Leasehold Block : D Floor : 3rd (Corner) Built Up Area : 1,800Sq Ft (Duplex) Management Fee : RM120/Year
TAMAN VIEWLAND
FO
FO
R
SA
LE
www.propertyhub.com.my
Addtional Info : Walking distance to Gaya St, Hap Seng Building, Facing. Main road & Centre Point.
Calvin Cheong (REN 14009)
Tel: +60 12- 868 6155 Email: calvin.cheong@ propertyhub.com.my
5 STOREY SHOPLOT RM 4,800,000
Kampung Air, KK Tenure : Freehold No. of Floors : 5 incl Ground Floor No. of Units : 5 Built-up sizes : 1680 sq ft GRD Flr 1300 sq ft 1st – 5th Rental Price : RM5,500 Grd Floor RM4,500 1st – 5th Tenure till July & Oct 2016
Joel Low (REN 13968)
Tel: +60 16-831 2381 Email: Joel.low@ propertyhub.com.my
Tel: +60 12-828 9986 Email: Stephanie.siew@ propertyhub.com.my
COVERED SHOWROOM
RM20,000 / month
The subject property is highly visible and has direct frontage to the main road of Jalan Lintas.
FO
R
RE
N
T
Share common entrance with neighbour.
The subject property is visible and has frontage to the main road of Jalan Lintas. Share common entrance with neighbour.
Juliana Chai (REN 02960)
Tel: +60 12-869 0311 Email: Juliana.chai@ propertyhub.com.my
Jalan Lintas Land Area : 1 acre Rental Price : RM8,000/month
Juliana Chai (REN 02960)
Tel: +60 12-869 0311 Email: Juliana.chai@ propertyhub.com.my
LE SA R FO
Tel: +60 12-828 9986 Email: Stephanie.siew@ propertyhub.com.my
OCEANUS MALL RM 2,230,000
Kota Kinabalu Floor : Concourse Floor Floor Area : 1,261 sf Price : RM1,768 psf
Juliana Chai
Oceanus is located in the heart of Kota Kinabalu, a very prime location. The lot is currently tenanted.
(REN 02960)
Tel: +60 12-869 0311 Email: Juliana.chai@ propertyhub.com.my
Selling at developer’s price.
VACANT LAND RM 8000 / month
(REN 14451)
SIKUATI VACANT LAND
LE
FO
R
Jalan Lintas Land Area : 0.5 acres Rental Price : RM20,000 / month
Stephanie Siew
~ 2 km to Inanam township ~ 8.2km to KK City
LE
(REN 14451)
SA
Stephanie Siew
SA
RE
N
T
~ Main Frontage ~ 500m to Oil & Gas hub ~ 1st commercial shop lot at Kimanis ~ suitable for café, restaurant, spare parts, hardware, hotel, fast food chain & etc business
Kolombong Title : CL999 Tenure : Freehold Land Area : 8518sqf Main floor area : 1675sqf Mezzanine Floor : 1300sqf
R
Kimanis Completion Date : 1Q2016 Title : Commercial Strata Type : Commercial Shoplot Tenure : Leasehold Built-up sizes : from 4630sqf
RM3,100,000
RM85,000/Acre
R
FO
RM1,272,000
KOLOMBONG LIGHT INDUSTRIAL CENTRE
FO
KIMANIS CENTRO COMMERCIAL SHOPLOT ~ NEW !
Sikuati Title : Commercial Lease Tenure : Leasehold Land Area : 15 Acres
FO
R
SA
LE
www.propertyhub.com.my
This piece of Land located not far from the main road and there is a reserved road to access. Near by have 2 schools and a Prawn Farm.
Chen Li Kun (REN 15289)
Tel: +60 19–831 3168 Email: likun.chen@ propertyhub.com.my
www.PropertyHunter.com.my
63
SA
Jalan Papar Title : Field Register Tenure : Freehold Land Area : 5.82 Acres Usage : Homestead Principle Price : RM37 psf
R
RM 9,500,000
LE
VACANT LAND
FO
FO
R
SA
LE
www.propertyhub.com.my
Tel: +60 12-869 0311 Email: Juliana.chai@ propertyhub.com.my
Tel: +60 12-869 0311 Email: Juliana.chai@ propertyhub.com.my There are 2 adjoining lots with a total of 19,978 sq ft. Located to the south east of Lintas Jaya development and to the immediate south west of the upcoming 4 Season Condominium.
SA
Likas Area Title : CL 999 Tenure : Freehold Land Area : 7.030 Sqft Usage : Residential / Detached Price : RM 242 / Sqft
R
RM 1,700,000 ( Neg )
LE
VACANT LAND
FO
LE SA R FO
(REN 02960)
Tel: +6 019-820.2218 Email: bruce.fong@ propertyhub.com.my
Tel: +6 019-820.2218 Email: bruce.fong@ propertyhub.com.my
(REN 08976)
This land is located at Kampung Karangan, Beaufort District with road access to the said land. Vacant land and may be suitable for oil palm plantation or other.
SA
Penampang Title : NT Land Tenure : Freehold Land Area : 10.5 acres Built-up sizes : 460,828 sq ft Zoning : Residential Title
R
RM 24,500,000 (RM53/psf)
LE
KG NAMBAZAN
FO
LE SA R FO
RM 3,660,000
Mile 9, Sandakan Title : CL999 Tenure : Freehold Land Area : 4.67Acres Usage : Residential Zone Price : RM18 psf
Stephanie Siew
Tel: +60 16-831 2381 Email: Joel.low@ propertyhub.com.my
Tel: +60 12-828 9986 Email: Stephanie.siew@ propertyhub.com.my
Completion Date: July 2009 Title : CL 999 Tenure : Freehold Land Area : 1.19 acres Usage : General Industrial Price : RM 67 / Sqft
LE SA
RM 3.5 Million
The subject land is located at mile 9, SANDAKAN. Located next to housing, suitable for housing development.
R
TAMPARULI CL 1.19 ACRE MAIN ROAD SIDE
(REN 14451)
FO
Ready for development, 300 metres from Pan Borneo Highway, Land is cleared & Flatten. Exactly 2 km from penampang roundabout.
LE
VACANT LAND
Joel Low (REN 13968)
SA
RM 16,949,000
Beaufort Title : CL 99 Land Tenure : Leasehold - 2086 Land Area : 997 Acre Usage : Agriculture Price : RM 17,000 / Acre
Bruce Fong
The subject land is located at Jalan Tuaran and nearby to Kurnia Perdana Condominium, Radiant Maisonette, Shan Tao Secondary School and Likas Sport Complex. Most of the land is flat and suitable for a detached house. Low density and quite environment.
R
VACANT LAND
Bruce Fong (REN 08976)
FO
Off Jalan Lintas Title : CL Land Tenure : 99 Years Land Area : 928 sqm (9,989 sf) : 1,856 sqm (19,978 sf)
Juliana Chai
The subject land is located at Jalan Papar, adjacent to the established and award winning Beringgis Resort and Spa. It has a beach front and also a direct frontage to the main road of Jalan Papar.
BEAUFORT CL 45 ACRE OIL PALM PLANTATION RM 1,260,000
Title : CL 99 Tenure : Leasehold Land Area : 45 acres No. of Title : 3 Usage : Argiculture Price : RM 28,000 / acre
Bruce Fong
Bruce Fong
Tel: +6 019-820.2218 Email: bruce.fong@ propertyhub.com.my
Tel: +6 019-820.2218 Email: bruce.fong@ propertyhub.com.my
(REN 08976)
This land is located at Tamparuli, Nearby Taman Putera Perdana and University Utama Condo ( UUC ). It is attached to main road side of Jalan Tuaran and suitable for own building, Warehouse or Show room.
www.PropertyHunter.com.my
RM3,300,000
Juliana Chai (REN 02960)
64
VACANT LAND
(REN 08976)
This land is located at Kampung Karangan, Beaufort District with road access. Lands are fully planted and expected end of 2015 to start harvesting. About 7 KM to nearest collection centre.
TERRACE / LINK HOUSE FOR SALE
Abbreviation LA: Land Area BUA: Build Up Area *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
Extracted from PropertyHunter.com.my
www.PropertyHunter.com.my
65
PROPERTY LISTING |SABAH
APARTMENT FOR SALE
66
www.PropertyHunter.com.my
Extracted from PropertyHunter.com.my
Abbreviation LA: Land Area BUA: Build Up Area *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
APARTMENT FOR SALE
Abbreviation LA: Land Area BUA: Build Up Area *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
Extracted from PropertyHunter.com.my
www.PropertyHunter.com.my
67
PROPERTY LISTING |SABAH
APARTMENT FOR SALE
68
www.PropertyHunter.com.my
Extracted from PropertyHunter.com.my
Abbreviation LA: Land Area BUA: Build Up Area *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
CONDOMINIUM FOR SALE
Abbreviation LA: Land Area BUA: Build Up Area *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
Extracted from PropertyHunter.com.my
www.PropertyHunter.com.my
69
PROPERTY LISTING |SABAH
CONDOMINIUM FOR SALE
70
www.PropertyHunter.com.my
Extracted from PropertyHunter.com.my
Abbreviation LA: Land Area BUA: Build Up Area *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
CONDOMINIUM FOR SALE
Abbreviation LA: Land Area BUA: Build Up Area *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
Extracted from PropertyHunter.com.my
www.PropertyHunter.com.my
71
PROPERTY LISTING |SABAH
CONDOMINIUM FOR SALE
72
www.PropertyHunter.com.my
Extracted from PropertyHunter.com.my
Abbreviation LA: Land Area BUA: Build Up Area *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
CONDOMINIUM FOR SALE
Abbreviation LA: Land Area BUA: Build Up Area *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
Extracted from PropertyHunter.com.my
www.PropertyHunter.com.my
73
PROPERTY LISTING |SABAH
SEMI - DETACHED HOUSE FOR SALE
74
www.PropertyHunter.com.my
Extracted from PropertyHunter.com.my
Abbreviation LA: Land Area BUA: Build Up Area *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
SEMI - DETACHED HOUSE FOR SALE
Abbreviation LA: Land Area BUA: Build Up Area *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
Extracted from PropertyHunter.com.my
www.PropertyHunter.com.my
75
PROPERTY LISTING |SABAH
BUNGALOW / VILLA FOR SALE
76
www.PropertyHunter.com.my
Extracted from PropertyHunter.com.my
Abbreviation LA: Land Area BUA: Build Up Area *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
COMMERCIAL FOR SALE
Abbreviation LA: Land Area BUA: Build Up Area *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
Extracted from PropertyHunter.com.my
www.PropertyHunter.com.my
77
PROPERTY LISTING |SABAH
COMMERCIAL FOR SALE
78
www.PropertyHunter.com.my
Extracted from PropertyHunter.com.my
Abbreviation LA: Land Area BUA: Build Up Area *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
COMMERCIAL FOR SALE
Abbreviation LA: Land Area BUA: Build Up Area *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
Extracted from PropertyHunter.com.my
www.PropertyHunter.com.my
79
PROPERTY LISTING |SABAH
RESIDENTIAL LAND FOR SALE
80
www.PropertyHunter.com.my
Extracted from PropertyHunter.com.my
Abbreviation LA: Land Area BUA: Build Up Area *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
OFFICE SPACE FOR SALE
Extracted from PropertyHunter.com.my
RETAIL SPACE FOR SALE
Extracted from PropertyHunter.com.my
Abbreviation LA: Land Area BUA: Build Up Area *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
81
PROPERTY LISTING |SABAH
COMMERCIAL LAND FOR SALE
Extracted from PropertyHunter.com.my
AGRICULTURAL LAND FOR SALE
Extracted from PropertyHunter.com.my
82
www.PropertyHunter.com.my
Abbreviation LA: Land Area BUA: Build Up Area *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
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Sarawak Abbreviation LA: Land Area BUA: Build Up Area *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
83
PROPERTY LISTING |SABAH
APARTMENT FOR RENT
84
www.PropertyHunter.com.my
Extracted from PropertyHunter.com.my
Abbreviation LA: Land Area BUA: Build Up Area *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
CONDOMINIUM FOR RENT
Abbreviation LA: Land Area BUA: Build Up Area *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
Extracted from PropertyHunter.com.my
www.PropertyHunter.com.my
85
PROPERTY LISTING |SABAH
CONDOMINIUM FOR RENT
86
www.PropertyHunter.com.my
Extracted from PropertyHunter.com.my
Abbreviation LA: Land Area BUA: Build Up Area *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
CONDOMINIUM FOR RENT
Abbreviation LA: Land Area BUA: Build Up Area *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
Extracted from PropertyHunter.com.my
www.PropertyHunter.com.my
87
PROPERTY LISTING |SABAH
COMMERCIAL FOR RENT
88
www.PropertyHunter.com.my
Extracted from PropertyHunter.com.my
Abbreviation LA: Land Area BUA: Build Up Area *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
COMMERCIAL FOR RENT
Abbreviation LA: Land Area BUA: Build Up Area *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
Extracted from PropertyHunter.com.my
www.PropertyHunter.com.my
89
PROPERTY LISTING |SABAH
OFFICE SPACE FOR RENT
90
www.PropertyHunter.com.my
Extracted from PropertyHunter.com.my
Abbreviation LA: Land Area BUA: Build Up Area *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
SEMI - DETACHED HOUSE FOR RENT
Extracted from PropertyHunter.com.my
RETAIL SPACE FOR RENT
Extracted from PropertyHunter.com.my
Abbreviation LA: Land Area BUA: Build Up Area *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
91
92
www.PropertyHunter.com.my