Issue 91 - August 2017 by Property Hunter Magazine

EAST MALAYSIAâ&#x20AC;&#x2122;S LEADING PROPERTY PORTAL, MAGAZINE & EXPO ISSUE 91 RM9.50 (Inc GST)

CoVER STORY

CONTRIBUTOR

HOT TOPIC

Kota Kinabalu: Market in review

5 reasons why you need to be a strategic property investor

Plunging into real estate as a millennial

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Change is the only constant in life. That is the absolute truth whether we would care for it or not. They say what matters is how we embrace or reject the change that befalls us. For the editorial team at Property Hunter, I think this has been especially true. This edition will only be the second bi-monthly edition of PH magazine, a shift introduced to push harder into the digital realm and live up to the title of an MSC status company. Change is upon us. That said, the magazine will still be the bedrock of Property Hunter, a hardcopy standing in the middle of all the soft.

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On the subject of change, it is apt to announce the departure

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this will be my first edition as Editor of PH magazine and a

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EDITOR’S NOTE

of Iza Abidin as the Editor of Property Hunter magazine here on the pages of the magazine she has worked on for a good part of 2 years. The hypothetical mantle has been passed and personal transition that is one of the smoother ones in my life, which is a testament to the work Iza has put into the editorial desk over the years. My hope is to have the transition be as value in the pages of this magazine. There is a transition happening in the property market as well. With 2017 being a slow year, many have deliberated and speculated on what is to come. This edition is all about shedding some light on the subject with stories on what millennials are thinking and a mid-year review where industry experts share some of their valuable insights and sentiments.

Administration & Accounts Jerace Lee

So here’s to change, get comfortable, because it probably already happened. Available bi-monthly at leading bookstores and newsstands throughout Malaysia

Lawrence Julius Editor

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e Forestry bl

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Printed on environmentally responsible paper from imported high quality grade woodfree recycled paper in a Sabah based facility.

Supporting Local Talents & Businesses.

COVER PHOTO by Joel Low 8

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CONTENTS Featured Property 10 The ERA @ Duta North: A new age of living begins Cover Story 16 Kota Kinabalu: Market in review Contributor 22 5 reasons why you need to be a strategic property investor 10

- by Ahyat Ishak 26 6 Phrases Real Estate Investors Shouldnâ&#x20AC;&#x2122;t Use - by Kenny Wong 30 Study: Millennial affordability in Kota Kinabalu- by Dr Rafiq Idris Interview 32 Synergy Hot Topic 36 Primary or secondary property: Which is worth buying? 40 Property jargon part 2 44 Plunging into real estate as a millennial Featured Events

46 17th anniversary, 17:17 flag off for Sutera Harbour 7K Charity Sunset Run 47 Local properties on display at PIHex 2017 48 Strategic partnership signing ceremony between SG Group and XPCC Engineering Construction Group 49 Kinsabina Group and MMC Overseas signs contract of work 50 Hap Seng debuts Kingfisher Inanam Condo Entrance Statement 52 Roof topping ceremony for Manhattan Suites @ ITCC 54 Forest City tour by Country Garden 55 Experiencing traditional activities for Raya with SP Setia 56 Titijaya holds groundbreaking ceremony for The Shore @ Kota Kinabalu

57 Fun-filled Raya open house with Gamuda Land 58 Official opening and Raya gathering at Grand Merdeka Mall Property News 61 SHAREDA told to build more affordable houses 62 China Keen to invest in Sabah 64 RM300mil funds allocated for affordable housing 74 Sabah, the next frontier for economic development in Malaysia 75 Bus Rapid Transit being planned for Kota Kinabalu

Disclaimer, Permission & Reprints: This publication is not an investment advice. It is intended only to inform and illustrate. No reader should act on the basis of any matter contained in this publication without first seeking appropriate professional advice that takes into account their own particular circumstances.The publisher and editors give no representations and make no warranties, express, or implied, with responsibility of any of the material (including statistics, maps, articles, loan product tables, advertisements and advertising features) contained in this publication. The publisher and editors expressedly disclaim all responsibility for any errors in or omissions from the information contained in this publication, including all liability for any loss or damage suffered or incurred by any person as a result of or arising out of that person placing any reliance, weather whole or partial, upon the whole or any part of the contains of this publication. No correspondents will be entered into a relation to this publication by the publishers, editors or authors. The publishers do not endorse any company, organisation, person, investment strategy or technique mentioned in this publication unless expressly stated otherwise. The publishers do not endorse any advertisements or any special advertising features in this publication, nor does the publisher endorse any advertiser(s) or their products / services unless expressly stated to the contrary. Articles are published in the reliance upon the representations and warranties of the authors of the articles and without our knowledge of any infringement of any third partyâ&#x20AC;&#x2122;s copyright. The publishers and editors do not authorise, sanction, approve or countenance any copyright infringement. This publication is protected under the Law of Malaysia Act 332 Copyrights Act 1987 and may not, in whole or part, be lent, copied, photocopied, reproduced, translated or reduced to any electronic medium or machine-readable format without the express written permission of the publisher. Copyrights 2013 Maxx Media (S) Sdn Bhd. All rights reserved.

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featured property Artist impression of The ERA facade

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featured property  by JKG Central Park Sdn Bhd

The ERA @ Duta North A new age of living begins JKG Land wants you to have it all. The perks and convenience of a bustling city life, and a quick retreat to a tranquil and serene wetland sanctuary just minutes away. That is the defining advantage of The ERA @ Duta North.

Located in the matured and well-connected

is perfectly balanced with unparalleled

township of Segambut and neighboring

convenience. Enclosing a Forest Village with

Mont’ Kiara, The ERA @ Duta North is JKG

half-century old forest trees at its core, once

Land Bhd’s flagship mixed-residential

you enter The ERA @ Duta North the city is

development in the Klang Valley. It is a well-

replaced with a shady canopy of luscious

balanced freehold development that presents

trees, jogging trails, tree houses, hanging

an optimum provision of living spaces to

pavilions and siesta lounges – an ideal setting

efficiently achieve work, live and play lifestyle

for recreational activities for

goals, hence positioning it as one of the last

the whole family,” said Dato’ Teh Kean Ming,

hidden gems in KL.

JKG Land’s Managing Director.

Six residential towers, a three-storey retail

Each residential tower will feature a Moon

development, over 6 acres of landscaped

Deck on the spacious roof area, accentuated

Forest Village and wetlands are offered within

with a Sky Lounge for relaxation after a long

the 14.8 acres development. The residential

day at work. The Moon Deck also serves

towers will scale 53 to 63 storeys high to

as the viewing deck, offering residents

become the tallest buildings in the vicinity.

magnificent panoramic views of KL City Centre, Batu Caves, Titiwangsa and KL

“The ERA @ Duta North is conceptualized

Metropolis.

as an aspirational residence where nature

Artist impression of The ERA retail bridge

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featured property

Artist impression of The ERA moat pavilion

“There will be 3 residential phases themed

houses and special gourmet kitchens, which

Dawn, Noon and Eve, which support the

come with a small cook-out and barbeque

concept of cool comfort (Dawn), tranquil

area for residents who want to organize a

relaxation (Noon) as well as recreation and

small get-together.

entertainment (Eve). He added that a link bridge will provide With built-up areas ranging from approx.

residents an exclusive and direct linkage to

614 sqft to 2,928 sqft, every unit is designed

Jalan Putramas and Dutamas 2, offering great

as a New Age Home with practical layouts

convenience and connectivity to surrounding

that optimizes living spaces. Value features

hubs such as Publika, Dutamas, Solaris, KL

such as dual-key units make it convenient for

Metropolis as well as the Matrade building.

multi-generational family living. There is also the luxury of owning an individual sky-garden

“This link bridge, not only adds to the

unit or a Semi-D/Twin unit in the Sky,” Dato’

residents’ convenience but certainly eases

Teh explained. The price of the residential

traffic into Jalan Segambut.” Dato’ Teh said

units starts from RM383,100 (subject to

on a lighter note.

the built-up area and other terms and conditions). Dato’ Teh described the pricing

The development will also include

as being very competitive, based on an

commercial units along High Street - a

average price of RM600 per sqft for a freehold

3-storey, 277,000 sqft interconnected retail

property in Kuala Lumpur.

area. Inspired by European hilltop market towns, it is conceptualized to offer the

Other amenities within the development

ultimate retail therapy of strolling through a

include a luxurious 100-metre pool, hanging

“High Street” boulevard of numerous outlets

pavilions, adventure trails, water maze, tree-

for shopping and alfresco dining. From an

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Artist impression of The ERA flying fox

With built-up areas ranging from approx. 614 sqft to 2,928 sqft, every unit is designed as a New Age Home with practical layouts that optimizes living spaces.

investment point of view, Dato’ Teh believes

schools such as Taylor’s College and Mont’

that Duta North’s growing popularity will bring

Kiara International School.

more vibrant opportunities as well as bigger returns for investment.

“This is a good opportunity to purchase, considering a relatively bottomed out

Being a mere 4 km away or just 10 minutes of

market and hedge against inflation for future

travelling time from KLCC, this development’s

value creation. As the saying goes,

connectivity is further enhanced with nearby

Opportunity knocks but once. Grab it!” Dato’

KTM as well as the upcoming MRT 2. The ERA

Teh added, with a broad smile. The ERA @

@ Duta North can also be found neighbouring

Duta North comprises the first 2 Dawn-themed

an education hub, encompassing 9 schools, 7

residential towers, encompassing 921 units,

higher learning institutions and 3 international

and was officially launched on 15 April 2017.

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featured property Artist impression of The ERA overall podium

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The ERA @ Duta North at A Glance Project By

: JKG Central Park Sdn Bhd

Project Name

: The ERA @ Duta North

Project Concept

: Well Balanced – Work, Live and Play

Nature perfectly balanced with unparalleled convenience

Enclosing a Forest Village with half-century old forest trees

Tenure

: Freehold

Location

: Duta North (Segambut) – Neighboring Mont’ Kiara

Size of Project

: 14.8 acres

Type

: 53 - 63 storeys Mixed-Residential

Residential - 6 blocks, 3 themes - DAWN, NOON & EVE Commercial - Retail Street Boulevard - 3 storeys (277,000sf) in “High Street” setting

Units available

: Phase I - 921 units

GDV

: Phase I – RM600mil

Unit Size

: 614 sf - 2,928s sf

Selling Price

: from RM383,100 (avg RM600 psf)

Access

: DUKE Highway , Sprint Highway, Penchala Link, Jalan Duta, Jalan Ipoh, Jalan Kuching

Connectivity

: Direct linkage to Dutamas, Publika, Solaris, KL City Centre, MATRADE – 900m, Publika – 1.5km

Mont Kiara - 2km, KL City Centre - 4km, KL Tower - 5km, KLCC - 5km

Facilities/Amenities : Over 100 of facilities - Moon Deck, Sky Lounge, Luxurious 100-meter pool, hanging pavilions, Official Launch

adventure trails, water maze, tree-houses and special gourmet kitchens : Phase I – 15 April 2017

Project Website : www.erabegins.com Corporate Website : www.jkgland.com

For further information, please call

016-939 9000

Now at PH Property Gallery, Lot 2.08, Level 2, Imago Shopping Mall, Jalan Coastal Highway, 88300 Kota Kinabalu. Open daily from 10am - 10pm

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COVER STORY

COVER STORY ď&#x201A;&#x201E; by Lawrence Julius

Kota Kinabalu: Market in review Welcome to the half way mark of 2017. Where is the property market at today?

The outlook for 2017 was one neither of

country. The implementation of the Goods

Sabah have put off people from investing in

optimism nor excitement as the industry

and Services Tax (GST) in 2015 is still bearing

the state. All these factors coupled together

predicted the slower pace of 2016 to continue

heavy on purchasers today, compounded

with tighter lending conditions from financial

to dictate the jog. 2016 recorded a value of

by the weakening of the Ringgit, plenty are

institutions have led to minimal notable

RM2.94 billion for new launches in the year

now weighted with diminished purchasing

launches in 2017 with a majority of the high-

while 2015 and 2014 recorded RM2.69 billion

power. Such is the case of weak confidence,

rises that are in development today being

and RM3.74 billion respectively, according

that uneasiness from the American elections

initiated in 2015 and 2016, mostly for the

to the Sabah Housing and Real Estate

have managed to further soften the market.

mid-range segment.

Developers Association (SHAREDA). Although

In turn, financial institutions have become

developers remain cautious, with a majority

stricter in their approval of loans, making it a

See Kok Loong, Director of Metro Homes

on the tentative side, there may be a glimmer

challenging process for buyers compared to

Sdn Bhd told The Edge Property that the

of change on the horizon in 2017 for Sabah

years past.

stamp duty increase, GST, Chinaâ&#x20AC;&#x2122;s restriction on capital outflow and a looming general

and the general market. Political scandals like the one surrounding

election might continue the softness in the

The industry crawled into 2017 with factors

1MDB making the news rounds have also

market.

such as a weak Ringgit and the plummet

weakened investments into the country while

of oil prices continue to negatively impact

cases of kidnapping in the East Coast of

High Rise Projects Under Development Name of Development

Developer

Location

Total Units

GDV

Pacific Heights @ PacifiCity

Pacific Sanctuary Holdings Sdn Bhd

Likas Bay

204

N/A

The Residences @ Sutera Avenue

Mah Sing Group

Southern Fringe of KK CBD

320

N/A

The Riverside Residence @ Sodomon

Kinsabina Group

Kepayan

134

RM65 Mil

One Jesselton @ Kepayan Ridge

BinaPuri Properties Sdn Bhd

Kepayan Ridge

125

RM84 Mil

Jesselton View @ Hilltop

BinaPuri Properties Sdn Bhd

Hilltop

RM66 Mil

SkyVue Residence

NBLand Group

Kobusak

200

RM177 Mil

Maya @ Likas

Tower Paradise Sdn Bhd

Likas

483

RM295 Mil

Bukit Bantayan, Block E

Gamuda Land Sdn Bhd

Inanam

296

RM144 Mil

Kingfisher Inanam

Hap Seng Properties Development Sdn Bhd

Inanam

257

RM295 Mil

Kingfisher Putatan

Hap Seng Properties Development Sdn Bhd

Putatan

120

RM56 Mil

Condominium Ria

Makinsa Group

Jalan Lintas-Khidmat

RM42 Mil

E Residence Phase 1

EH Group

Telipok

320

RM92 Mil

University Utama Condominium Phase 6

W Group

Telipok

660

RM137 Mil

Bukit Saujamas

Tajuk Unggul Sdn Bhd

Telipok

1,664

RM479 Mil

Source: Knight Frank, SHAREDA 16

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Landed Residential Development Launches Name of Development

Developer

Location

Property Type

Total units

GDV

Taman Ganang Phase 2

Wawasan Development Sdn Bhd

Kepayan

Terrace

RM48 Mil

Prestige Residence

Palmspan Sdn Bhd

Menggatal

Terrace

RM29 Mil

Taman Casa Ria

Spurwin Development Sdn Bhd

Tuaran

Terrace

RM21 Mil

Taman Limbai Ria Phase 2

Legacy Group Development Sdn Bhd

Tuaran

Terrace

RM30 Mil

Berungis Villa

North Bridge Engineering Sdn Bhd

Tuaran

Terrace

RM6 Mil

Taman Sinar Jaya 2A-4

Sinaland Sdn Bhd

Tuaran

Terrace

RM15 Mil

Vision Garden

Sri Moraine Sdn Bhd

Penampang

Terrace

RM29 Mil

Villa Mutiara

Nadi Properties Development Sdn Bhd

Menggatal

Townhouse

136

RM50 Mil

Bukit Damaisari

SCP Group

Menggatal

Terrace

204

RM103 Mil

Park Residence Phase 2 & 3

DF Development Sdn Bhd

Penampang

Terrace/Semi-D

N/A

Year

2016

2017

Source: Knight Frank Research, SHAREDA The residential sector has constantly been

showed that the Malaysian Price Index

volume versus the negative HPI shows that

a dominant sub-sector in Sabah, according

(HPI) for 3Q2016 stood at 245.1 points while

the while there is still lively activity in the

to Knight Frank Research it is approximately

4Q2016 was 243.3 points, a drop of 0.7%

market, prices have depressed due to a

57% of the total volume of transactions and

between the two quarters.

perceived slowdown of the market.

in 2016. Sabah’s residential segment saw a

A slight dip in property price was experienced

Alexel Chen, Resident Director of Sabah

pickup when comparing 1H2016 to 2H2016.

across the board for the country between

Branch, Knight Frank Malaysia agrees that

Volume of sales increased approximately

3Q2016 and 4Q2016 with only Johor (0.9%),

the market will need some time to recuperate

40%, at 2,335 transactions as opposed to

Negeri Sembilan (0.9%) and Terengganu

and find its form. He believes that the

1,667 transactions for the first half of the

(1.8%) recording growth. Sabah’s HPI

slow market activity in Kota Kinabalu will

year. Value of transactions went in tandem

dropped 1.4% while neighbouring Sarawak

continue, adding, “With many developments

with the increase of volume, increasing from

dropped 1.9%, validating the soft outlook

in the pipeline, particularly high-rise

RM558.88 million to RM748.92 million, an

carrying over into 2017. This is the first

residential projects set to be completed in

increase of about 34%. Although volume

time since 3Q2008 that the country’s HPI

the near future, the large impending supply

increased, data from the Valuation and

experienced a quarterly drop, up till now the

will present tenants with a wide range of

Property Services Department (NAPIC)

index has consistently reflected an uptrend.

choices which will depress potential rental

Property Market Report 2016 however,

The correlation between an increase in

returns for landlords.”

around 37% of the total value of transactions

Kota Kinabalu Existing Supply of Residential Property by Type (2016)

Single Storey Terrace, 5,180 units 2-3 Storey Terrace, 13,932 Single Storey Semi Detached, 1,360 units 2-3 Storey Semi Detached, 3,822 units Detach, 1,159 units Condominium/Apartment, 20,317 units Others, 13,579 units

Source: Knight Frank Research, NAPIC www.PropertyHunter.com.my

COVER STORY

Purposed-Built Office and Retail The specialized office space segment is one

Research. Notably, an outlier currently in the

a relatively healthy level,” says Alexel. He

that is picking up in Kota Kinabalu. As the

office segment is Plaza Shell, developed by

adds however, that there will be downward

city grows and develops bigger corporations

Hap Seng Properties Development Sdn Bhd,

pressure put on the segment as new

will look to anchor in the city, which will

it is the first Grade A office in the city and may

developments come onstream by 2H2017.

present an opportunity for developers to

fetch higher rental rates at RM4.50 to RM6.00

Conventional shop lots are also meeting the

grow this segment. Broadly, office space in

per sqft.

demands for office space and, according to

Kota Kinabalu are mainly concentrated along

Alexel, is still the preferred option for local

Jalan Coastal, Jalan Kemajuan and Jalan

2Q2016 recorded no notable new supply of

Tuaran within the city centre, with scattered

purpose-built offices in the first half of 2017.

plots along Jalan Istiadat and around

However, there are several projects coming

For the retail segment, Kota Kinabalu’s total

Yayasan Sabah. The average rental for office

onstream in 2017 such as the Sabah State

space currently stands around 5.56 million

space in the city centre hovers around the

Administrative Complex, Pacific Enterprise,

sqft according to Knight Frank Research.

RM1.80 to RM2.50 per sqft while prime office

Sutera Avenue as well as Aeropod.

This includes newly added space of 74,666

spaces in the city can fetch around RM2.50 to RM3.50 per sqft according to Knight Frank

businesses and SMEs.

sqft courtesy of the newly completed “The office sub-sector is relatively stable

Jesselton Mall @ Jesselton Residences

with occupancy and rentals maintaining

The retail sector for Kota Kinabalu recorded improvements in terms of occupancy rate from 78% in 2H2015 to 86% in 2H2016. However, recent data from NAPIC shows that occupancy rates in 1Q2017 recorded a drop to 85.1% for the whole of Sabah, while Kota Kinabalu clocked in at 83.4%.

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and approximately 65,000 sqft more from

New comer Grand Merdeka Mall significantly

T1 Bundusan. The retail sector for Kota

added to the segment with approximately

Kinabalu recorded improvements in terms

240,000 sqft of retail space with the opening

of occupancy rate from 78% in 2H2015 to

their doors in June. Grand Merdeka Sdn

86% in 2H2016. However, recent data from

Bhd said that over 90% of allocated units

NAPIC shows that occupancy rates in 1Q2017

have been sold with around 50 lots under

recorded a drop to 85.1% for the whole of

renovation and soon to be open for business.

Sabah, while Kota Kinabalu clocked in at

Tenants already operating in the mall include

83.4%. The drop of the occupancy rate could

Food Craze, Tong’s Departmental Store, SS

be attributed to the increase in supply and

Supersave and Fun Scapes Amusement

the sluggishness of the economy.

Centre.

The success of retail spaces can partly be

Currently, there is an absence of new

attributed to selecting the right tenants

proposed supply for the retail segment,

and creating buzz. This is exemplified by

suggesting a hint of hesitance from

the announcement from Pacific Sanctuary

developers. That said, according to Knight

Holdings that Australia-based consumer

Frank Research there will be approximately

electrical products giant Harvey Norman

1.2 million sqft of retail space adding to the

will be taking up 43,000 sqft inside their new

market in the coming couple of years. “There

mall Pacific Parade, the brand’s maiden store

is a concern for the sustainability for the

in Sabah. Likewise, Imago Mall generated

market considering the impending supply of

momentum by having a mix of brand-name

retail spaces,” says Alexel. Occupancy rates

stores such as Morganfield, Cortina Watch,

may also see a dip as new malls coupled

Baskin Robbins, Pandora and Daiso to

with slower take-up rates come into play,

name a few. Occupancy rate in Imago Mall

but malls with good quality tenant mixes are

improved from 85% in 1H2016 to 87% as of

expected to hold firm.

2H2016.

Joel Low

Occupancy Rate of Shopping Complexes in Kota Kinabalu (%) 100

91 78

85.1

0 2004

2006

2008

2010

2012

2014

2016

1Q2017

Source: Knight Frank Research

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COVER STORY

Feeling the Market So are prices edging towards a downward

will always be there, saying, “They will still be

spiral?

actively buying but the numbers could now be smaller due to stringent requirements by the

Not exactly. While factors like the increase in

banks.” Henry believes that the slowdown in

stamp duty for properties priced above RM1

the market have resulted in many speculators

million from 3% to 4% may put a dent in the

opting out. On the other hand, genuine

high-end segment, people will still be on the

investors looking at the long term are waiting

lookout for affordable properties.

to strike when the price is right, but no longer

John Tan, COO of Hap Seng Consolidated

buying at first sight.

Bhd says that experienced investors will

Buyer confidence will climb if the Malaysian

recognise good deals and snap them up,

economy improves on the recorded 5.6%

which may leave home buyers with not much

growth in 1Q2017 and might even cancel

options. Deciding to wait may be the overall

out external factors that are negatively

sentiment but John recalls situations where

impacting buyers’ perceptions. In fact, a

interested home-buyers had to pay more

report conducted by MIDF Research shows

because investors have already vetted the

that consumer sentiment index (CSI) stands

property and gotten the good deals, which

at 76.7 points in 1Q2017, an increase from

include developer promos. John advises,

69.8 points in 4Q2016. This shows that

“Buyers shouldn’t be too pessimistic but

buyers are in the market for property but are

rather ask themselves if it is right property

apprehensive due a gloomy outlook.

they want, are they able to afford it, who are the developers, are they trustworthy and

Sarkunan Subramaniam, Managing Director

how good the workmanship is.”

of Knight Frank Malaysia says that we can see signs of an improving Malaysian

Construction costs is also a determining

economy with the GDP expanding. He

factor when it comes to prices. With GST

says the effects can be seen in the general

in effect the costs of raw materials have

primary property market with a slight easing

an extra bearing on the developers. John

of loan approvals and developers achieving

opines, “Costs of building will not go down.

better sales rates. For the secondary market,

A lot of our raw materials are imported and

Sarkunan sees that confident buyers who are

developers experience imported inflation.

cautiously looking out for good investments

GST itself is 6%, but with everyone increasing

and opportunities are stepping up to

prices, it goes well beyond 6%.”

snap up discounted properties. Towards

According to Henry Tai, Principal and Founder of Henry Realty Sdn Bhd, genuine home buyers looking for a place to call their own

the end of 2017, he foresees the market improving with the impending general election and government spending more on infrastructure.

Looking further down the pipeline, the property market will be boosted with the development of the Pan Borneo Highway adding further selling points for properties in Sabah.

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Joel Low

Alexel agrees that while the market might

adding further selling points for properties in

that came before it, but it can also spark a

be sluggish, he maintains his view that

Sabah. Additionally, developers may want to

new beginning for the property industry. It is

residential properties in good locations

tap into the tourism sector as it looks set to

safe to say that it is a year for the cautiously

in Sabah are expected to hold, along with

play a big part in the stateâ&#x20AC;&#x2122;s growth. All this

optimistic types. A myriad of factors may

demand for affordable homes as the market

will then be supplemented by initiatives like

dictate how the second half of the year

is dense with first-time home buyers and

the RM1 billion Bus Rapid Transit network,

shapes up but for those who weight their

young families.

creating legitimate reasons to remain

options carefully and thoroughly, they might

optimistic.

find a silver lining on the horizon.

Looking further down the pipeline, the property market will be boosted with the

All in all, the closing half of 2017 will likely

development of the Pan Borneo Highway

continue to be as tentative a half as the one

Sources: 1.

Knight Frank Research Malaysia

Sabah Housing and Real Estate Developers Association (SHAREDA)

House Prices finally coming down? The Edge Property MY (26 June 2017)

Property Market Report 2016 Valuation and Property Services Department (NAPIC) www.PropertyHunter.com.my

contributor

CONTRIBUTOR  by Ahyat Ishak

5 reasons why you need to be a strategic property investor The property investor today needs to be more strategic in his or her investment decisions. If you are not a strategic property investor, then you are just a mediocre property investor. The strategic investor is the one who profits from both good times and bad times and the mediocre investor is the ones that merely follow the frenzy and hope to strike it good. Here, we look into the five compelling reasons why you need to be a Strategic Property Investor.

WHY #1 Exciting Times! “We are living in the most exciting time

been this much opportunity to create

reality of the market today? My son who

wealth through property investment,

would look back 30 years from now

then we will ever again.

to this very period, would agree that

in Malaysia’s real estate history!” Yes, we are! We are truly living in exciting

it would probably have been the best WHY #2 Troubling Times?

times! As a young Malaysian, I cannot imagine being alive in any other time

The Strategic Property Investor is

than now. There is so much vibrancy

always excited about the market but

in development and excitement in

never over-excited. This is because

opportunities that we will never see

he or she understands that there’s

ever in our lifetime. Never has there

the other side of the coin. What is the

time to be alive as a property investor. But what he wouldn’t know was the problems and challenges that many investors face today!

“We are living in the most exciting time in Malaysia’s real estate history!” 22

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WHY #3 Certainty Is Just a Dream If you wish for certainty in life, you are going to be wishing for a very long time! As a property investor, you need to understand that the only thing certain is uncertainty itself. Everything changes; be it at a local, national, regional, or global level. In property investment, things change all the time. Policies will change, buying and rental trends change, hot locations change, etc. Knowing the fact that things will change now and in the future, being strategic with your property investment is critical! As a strategist, you’d understand the importance of scenario planning, which is the cornerstone of being strategic, yet so few do it. Only the strategist will be able to adapt to the uncertainties of the property market, and you should too.

WHY #4 Strategist versus Victim

WHY #5 Staying Competitive

If you are not a strategist, you will end

While we live in exciting times, we too live

up a victim! I don’t know about you,

in times of extreme competitions. There

but I don’t want to be a victim. I want

are increasingly more property investors

to be a winner in the game of property

coming into the game and there are

investment. In this time of excitement

increasing choices. The Strategic Property

and time of concern, and in such

Investor understands that things won’t

uncertain times, you really do not have

get any easier, but we must get better!

any choice but to be a strategic property investor. Strategist makes massive profits

Mediocre investors hope that things are

from both good and bad times. If you are

going to get easier, things won’t change,

a mediocre or half cooked – pardon my

and they never do! The market will

language – investor, I do not see how you

only get tougher with new policies and

will be very successful in the reality of the

regulations. There will always be more

property market today.

investors in the game. Being strategic is the only way to staying competitive in an increasingly competitive investment market.

Ahyat Ishak Ahyat is the author of the bestseller “The Strategic Property Investor” book and program. Having started from humble beginnings, his first property investment began more than a decade ago and by the age of 30, he became a property millionaire. He is also known for his highly acclaimed workshops, seminars, and talks. www.PropertyHunter.com.my

contributor

Contributor  by Kenny Wong

6 Phrases Real Estate Investors Shouldn’t Use Sometimes, some income is better than no income

As human beings, we have a habit of making

If we continue to allow and buy into our

2. “I’m too busy.”

up excuses for ourselves. Everyone deals

own excuses as real estate investors and

Busy, busy, busy. We’re always busy. While

with uncertainty and fears — it’s natural. For

professionals, we’ll never achieve our full

it’s true that many people do have a tight

anyone looking to have a successful business

potential. In the spirit of self-improvement,

schedule throughout the week, work or

of any kind, getting past the excuses born

I’ve shortlisted some of the most common

business can often became a potent excuse.

out of these fears and negative thoughts is

excuses we give ourselves and others. These

It sounds valid, and we may very well have a

a crucial first step. Learning from the gurus,

are the sentences that we must leave behind

lot on our plates, but “busyness” is a business

mentors and successful entrepreneur, I

if we want to be great.

killer.

right mindset. I truly believe that having a

1. “Now’s not a good time.”

Why?

proper mindset is one of the key factors that

Really? Is there ever going to be a perfect

For one, it creates a wall that hinders change.

determines success, no matter what the

timing? This excuse can be valid if you’re

We are blocked off from possibilities, from

business.

over capacity or burning out. It really might

re-prioritizing, to change, to accommodate

have become a huge believer in having the

not be a good time for you personally. But in

other opportunities. The real reason we claim

Real estate investing is no different than any

many cases, for professionals in any field and

“busyness” probably has more to do with

other business. If you treat it like a hobby,

real estate investors, timing has more to do

uncertainties or a lack of interest. Everyone

then you will have the same success you

with market conditions. While yes, timing is

on Earth has the same time allotted to them.

would have with a hobby. However, if you

important, it is no reason to not start in the

You know what? We’re rarely as busy as we

treat your real estate investing as a business,

first place. Your timing might be off, and that’s

say we are.

then you can have the kind of success we all

okay. At least you have done something.

hope to have in business. This requires us to

Another reason it is a business killer is that

leave the excuses behind.

we all arrange time for what we want to make time for. Often, those wants include things

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that have nothing to do with their business.

This excuse is often rooted in a sense of

and desire to take on risks and hard work

Things like hobbies, socializing and workouts.

perfectionism. Truly valuable experience is

are the weapons that real estate investors

Our schedules are often filled with extra

built on failure and success alike. So if you

everywhere use to get over that stumbling

activities, which is not a bad thing at all but

are in lack of experience, this is the time to

block.

those things can be bad when they fill our

get it. A successful business grows from and

schedule to the brim and prevents us from

with experience. The only way to get it is to

5. “It’s not worth it.”

allocating the time that’s needed for us to

go for it.

This excuse demands an examination. There are many real reasons as to why an

make our real estate businesses successful. 4. “I need more money.”

opportunity may not feel worth it to you. The valid excuses would be like:

3. “I don’t have the experience.”

This excuse can feel very real when you

While not having experience in one area or

genuinely out of cash. Maybe your business is

another is a valid concern, it’s not a very good

struggling at a low point or emergencies have

I have weighed the risks, and it isn’t

reason to abandon the opportunity. You don’t

used up your resources. The issue is when you

something I can wisely pursue.

get experience if you don’t try in the first

say it and do nothing to solve the problem.

place. Good decisions come from experience,

Everyone can find alternative routes to find

It doesn’t fit with my brand, mission, or

and experience comes from bad decisions.

funding and cut expenses. For real estate

portfolio.

None of us starts with experience. We all start

investors, it may be a simple case of being an

at the same place and build from the bottom.

entry-level investor with tastes that exceed

This opportunity will not further my overall

That is often where we miss the true lifecycle

the price point. Most of us have to start small.

business goals.

of business.

Then grow from there. After careful assessment, this property is

“I’m a perfectionist and nothing is worth

Money is only an issue for those who allow

doing unless you get it right the first time.”

it to stop them. Creativity, a willingness

bigger than what I’m able to take on.

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If you truly believe in your business, investments and passions, don’t let the pessimists and the naysayers, from inside your own head or critics on the outside, deter you from shooting for your goals, to be a successful property investor.

“It’s not worth it,” however, can be a just

6. “I can’t.”

their inborn ability to tackle the challenge

a hollow excuse if you haven’t thoroughly

We all should really remove this sentence

set before them. We say that we’re not

examined your reasoning. Deep down, maybe

entirely from our vocabulary!

good enough. Someone better should

you just don’t want to do it.

handle it. When it comes to our personal The problem with this sentence, with this

and professional lives, negativity towards

Indeed, we all want investments and

excuse, is that your words matter as they can

ourselves can be disastrous to the success of

opportunities that excite us — but the

absolutely be materialized. Whether you can

a business.

boring, bread-and-butter opportunities are

or you cannot, saying aloud that you cannot

a necessary part of stable growth. Don’t

do something — saying “I can’t do it” — will

Remember that you are good enough. You

overlook opportunities because they aren’t

end all possibility of you doing it. In every

may fail, but you can try. If you truly believe

“perfectly ideal.” Just because they don’t

situation, when you say you can’t, you’ll never

in your business, investments and passions,

inspire your passions in the moment doesn’t

even try.

don’t let the pessimists and the naysayers,

mean they’ll go to waste. You will never know what doors of opportunity this could open.

from inside your own head or critics on the You’ll find that the most successful people

outside, deter you from shooting for your

have at one point or another doubted

goals, to be a successful property investor.

Kenny Wong An interior concept designer, he is the founder of Wowspace. Started his investment journey at just 22, he believes that those who do not try to manage their money will always work for those who do. He hopes to use his experience to bring awareness to other young people about the importance of property investment and the advantages of starting young.

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CONTRIBUTOR  by Dr Rafiq Idris

Study: Millennial affordability in Kota Kinabalu House ownership among the young generation is an issue of heated debate that needs to be addressed. Some are saying that property prices in Kota Kinabalu is expensive and unaffordable for the millennial. This article attempts to highlight some of the key findings obtained from a preliminary study on house ownership in Kota Kinabalu among the younger generation. In addition, this article shall propose some recommendations.

This study was conducted since 2016

Menggatal, Sepanggar, Telipok and

to obtain the general view of the young

Tuaran, working in Kota Kinabalu. In

generation’s affordability to own a

terms of income group, based on Table 1,

house or property in Kota Kinabalu. A

67% of the respondents come from those

convenience sampling method involving

who earn RM3000 and above.

400 individuals was adopted. The age of respondents ranged between 24-39

With regards to the millennials’ opinion

years old. Only working individuals were

on house price in Kota Kinabalu, 71%

consulted as respondents. The areas

of the respondents think that it is very

involved include respondents from

expensive (refer to figure 1). 27% think

Tanjung Aru, Sembulan, Kota Kinabalu,

that it is expensive, while 1.25%, 0.5%

Likas, Penampang, Luyang, Kepayan,

and 0.25% think the price are reasonable,

Petagas, Putatan, Kinarut, Papar, Inanam,

cheap and very cheap respectively.

Table 1: Salary Group of Respondents Salary group

No of Respondents

RM1-999

RM1000-1999

RM2000-2999

RM3000-4999

138

34.5

>RM5000

130

32.5

Figure 1: Respondents View on House Price 0.25% 0.5% 1.25%

27% Very Cheap Cheap 71%

Reasonable Expensive Very Expensive

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Besides that, the respondents were asked whether or not they found it difficult to obtain a housing loan due to the selling price of the property. Based on this question, 97% percent of the respondents say yes that they found it difficult to obtain a certain loan amount due to house price. In addition, respondents were also asked if the house price in Kota Kinabalu is expensive or not, and if so, why? Options of reasons were given and they can select more than one possible reason. Based on this survey exercise, the findings indicate that 79% think that houses in Kota Kinabalu are expensive and the selling price is being set as high/ too high. 35% attributes it to materials and or other costs that have increased overtime. 12% believe that it is due to the fact that the demand for houses in Kota Kinabalu is greater than the supply of houses. Moreover, 2% of the respondents think that the price of property in Kota Kinabalu is not expensive, hence no reasons were given. Furthermore, the study asked respondentsâ&#x20AC;&#x2122; opinion whether or not the supply of low cost housing in Kota Kinabalu or neighboring districts is sufficient to meet the demands of people working in Kota Kinabalu. The survey findings indicate that 94% believe low cost housing supply is not sufficient. In relation to this, a general question was also asked whether or not house supply in Kota Kinabalu or neighboring districts of Kota Kinabalu in sum are sufficient for people in

The researcher would like to propose a more

as to ensure more people be able to own a

Kota Kinabalu. The findings of the survey

comprehensive study to be conducted in Kota

house. Indeed, the efforts by the government

show that 25% believe that it is sufficient

Kinabalu and Sabah as a whole to examine

and private sector to provide more affordable

while the rest thinks it is not sufficient.

whether or not the house price in Sabah is

housing must be supported.

Based on the preliminary study, it is clear

expensive and to check whether or not the

that generally the millennial thinks that

supply of property is not sufficient, causing

house price in Kota Kinabalu is expensive

prices to be expensive. This is in addition to

and the supply of houses is not sufficient.

the previous study conducted by Khazanah

However, the findings do not suggest that it

Research Institute last few years. In addition,

is 100% correct since it is just the views of 400

the study would like to propose that more

respondents.

affordable houses be developed in Sabah so

Dr Rafiq Idris Dr Rafiq Idris is an economist, Senior Lecturer from Financial Economics Program, Faculty of Business, Economics and Accountancy, Universiti Malaysia Sabah. He is known for his research on trade, health economics and expertise in TransPacific Partnership Agreement (TPPA). www.PropertyHunter.com.my

INTERVIEW

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INTERVIEW  by PropertyHunter

Synergy A fruitful collaboration between Property Hub and TBMC resulted in the creation of the Developer Bearing Rental Scheme (DRBS).

Sitting down with Enoch Khoo, Vice President of Property Hub Sdn Bhd and Matthew Tan, Managing Director of TBMC Development Sdn Bhd, we sensed an excitement to talk about things brewing in the pipeline for the two companies synergizing on TBMC’s T1 @ Bundusan. Enoch kicks things off by explaining the Developer Rental Bearing Scheme (DRBS), a mechanism conceived by the duo to assist buyers in acquiring new tenants. Through this scheme, not only does the buyers benefit but also allows the developer to find a good mix of tenants for their completed projects. The DRBS is unique to TBMC and according to Matthew, no other developer has done something similar as they are offering up to RM250,000 for 6 months to subsidize potential tenants’ monthly rent.

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INTERVIEW

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Enoch: Matthew wanted to make sure the whole project is fully leased out and after some discussions and brainstorming sessions the DRBS came about. Buyers like the idea that the tenant selection will be controlled by the developer. Matthew: We need good brands to come in for the long term rather than we just sell and leave. It can become very messy. We want to manage this project like a shopping mall. PH: Do you see other developers wanting to implement the same scheme? Enoch: I think other developers will take notice and use the same strategy. We cannot stop them and we can’t copyright anything but we can say TBMC was the first to do it. That said, if other developers decide to use it I hope they

“We need good brands to come in for the long term rather than we just sell and leave.”

do well. So far, reception to the scheme has been

the project protrude out about 6.6 meters from

chance meeting allowed the boys to catch up

broadly positive according to Enoch and he

the body of the building. We did something

and eventually strike up a partnership.

suspects it is one of the key selling points of

different, so that was the challenging part.

T1 @ Bundusan. Based on the initial response

Even for the façade’s woody concept, we really

PH: Any plans to continue this partnership

after launching, Enoch is optimistic and

had to take our time and be careful when

between TBMC and Property Hub?

almost regrets putting his phone number on

sourcing for materials. Matthew and Enoch mutually nods in

the marketing material. Almost. However, it was not all smooth sailing for TBMC when

Enoch: They adopted a very interesting

agreement and expectance, with a possible

construction started on the project with

concept which means a way of construction

T2 on the horizon slated in Tawau. “I can’t

location and design ambitions turning into

that is out of the norm.

give details at the moment but it has been approved and we are figuring out when to

speedbumps. T1 @ Bundusan sits on 1.93 acres of land

kick it off,” says Matthew. Another region TBMC

Matthew: Initially there were a lot of problems.

along Jalan Bundusan. It features 12 blocks

has their sights on is in Tenom where they are

The land in Bundusan is a bit swampy and we

of 4-storey commercial lots, 12 dual-volume

planning mixed developments and condos,

had difficulties during the piling stages. We

sky units on the fifth floor, a 6-storey hotel,

but that may change down the line. Presently

had to use special techniques.

basement car park and a unique take on

though, both Enoch and Matthew will have

design, setting the pace in the Sabah market.

their hands full with T1 @ Bundusan, but I reckon that’s a problem they wouldn’t mind

PH: TBMC is still relatively new to the construction world, was this the challenge?

PH: When did the partnership (TBMC and

having.

Property Hub) start? TBMC was formed around 40 years ago, but was rooted in the automotive industry, which

Matthew: Well it started about a year ago.

remains a key part of TBMC even today.

I’ve got another industrial project and Enoch

However, the company’s foray into property

helped in terms of the handover and such.

development didn’t start with T1 @ Bundusan. According to Matthew, TBMC decided to

Good things come to those who put in the

plunge into the property realm circa 2007,

work they say, in this case to those who work

building semi-D’s, linked-detached homes and

together. With TBMC appointing Property Hub

industrial warehouses.

as a marketing partner, a fruitful partnership was born. The two had already known each

Matthew: Well it wasn’t so much that (being

other from high school, but fate brought them

new to construction), it was also partly

together in the business realm when destiny

because of the design. We had the fifth floor of

sat them on the same flight one fine day. This www.PropertyHunter.com.my

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HOT TOPIC ď&#x201A;&#x201E; by Rebecca Michelle

Primary or secondary property: Which is worth buying? So, which type of property stretches your Ringgit the most?

When it comes to purchasing a residential property, the common question that comes to mind is, do I buy a new property or search for secondary property in a specific location? Generally, people buy a residential home for property investments before buying it to live in. So, as someone who is looking to buy a residential home to live in, what are the options out there? The property market is usually divided into two categories: primary market and secondary market. The primary market consists of new properties, which include new launches and ongoing projects from the developer. The secondary market is made up of secondary or sub-sale properties, previously owned houses in matured locations and established residential areas. To further elaborate, secondary properties are properties that have been introduced into the market for rental or sub-sale which will either be rented or owner-occupied by subsequent owners. It is normal for industry outsiders to think that the primary market, or new properties, contribute to the most number of sales, due to the alluring advertising and marketing of new developments. However, contrary to popular belief, the secondary property market takes up the bulk of the volume of residential property transactions, as opposed to the primary property market. This is mainly because the secondary property market offers more choices in already established locations. Oh, so shiny! For starters, primary market properties are brand new, and therefore less money is required to be spent on renovation and refurbishment; some, if not all, units even come with basic furnishings such as kitchen cabinets and builtin wardrobes. Primary property prices are usually set cheaper or at market value by developers, and in a soft property market, purchasers buying primary properties are most likely to enjoy good capital appreciation on the property, sometimes even before its completion. Capital appreciation is what most real estate speculators look for, thus it comes as no surprise that they too, are among those who prefer primary market properties. Buying primary market properties straight from the developers at a low price and later selling it at an appreciated value in the secondary market drives them to make purchases.

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Like What You See As with primary properties, buying a sub sale or secondary property has its good points and pitfalls too. Generally, secondary properties have lower risk, you can touch and feel and see exactly what you’re getting into. It is right there for you to view, not just the property but the area, the infrastructure, the neighbours, the amenities. There are also a higher acquisition costs such as the Sale and Purchase Agreement (SPA), loan documentations, and stamp duty among others. It also can be very challenging as you must find a seller who agrees to sell at the agreed price, which will need three parties to agree mutually, the buyer, the seller, and the bank. Once all these are settled you can move in, which can take up to a year. Before you can get your financing approved, banks require the property to be valued by professional valuers, and if the value is lower than the asking price, the buyer may need to come up with a higher down payment to make up for the shortfall. The home loan’s margin of finance is based on the market value, not the asking price. Here is a list to illustrate the pros and cons of both primary and secondary properties to help you (re)consider and/or (re)evaluate your residential property purchase. PRIMARY PROS

• • • • • • •

SECONDARY CONS

Latest design Lower entry level High margin of finance Fixed price Better choice of lots/units Developer promos e.g. Absorbed legal fees Capital appreciation

• • • • • •

Off-plan "Virgin mentality" 2-3 years for completion Lower initial rent Possibility of abandonment Initial furbishing cost

PROS

• • •

CONS

Negotiable Immediate rental return Established location

• • • •

Old design Repair / Maintenance What you see is what you get Price increase

To summarise, both primary and secondary properties have their pros and cons. To choose the best one that suit your needs will depend on your risk appetite, financial readiness, needs and opportunities. PRIMARY

Upfront cash

• •

SECONDARY

Standard of 10% down payment (if buyer is eligible for 90% financing). Approximately 10% for legal fees, stamp duty etc. (sometimes borne by developer).

• •

May have higher down payment, depending on the property value. Higher cost for Sales and Purchase Agreement, legal fees, stamp duty etc.

Monthly repayment

•

Tiered payment - paying interest in instalments and it increases until full payment is made.

•

Full repayment is immediate.

Discounts

•

Depends on the developer, but common discounts available are, early entry price, Bumiputera, staff discounts, member’s privilege, 10:90 / 20:80 schemes.

•

NO discounts but buyer may negotiate with seller or real estate agent.

Furnishing / Renovations

•

Some new properties come fully furnished or empty.

•

Some properties come fully furnished, partially furnished or empty. For older properties, renovations may be needed.

•

Risks

• • • •

Possible project abandonment. Possible delay in delivery . Unable to sell unit until completion and delivery. Inflexible competition for rent and sale during delivery period.

• • • •

Possible market value inaccuracy. Number of years left on the property (leasehold properties). Maintenance and repair. Issues such as termite problem, electrical wiring, piping decay etc.

Many young aspiring home buyers are drawn into only checking out primary market properties, thus the term “virgin mentality”, and are disappointed when most new projects are above what they can afford. They overlook the fact that there are many more affordable homes are available in the secondary market. At the end of the day, it is all about what you need and buying within your own means. www.PropertyHunter.com.my

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HOT TOPIC ď&#x201A;&#x201E; by Property Hunter

Property jargon part 2 Get in tune with the beat of property market with some chart-topping jargons.

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P Perumahan Rakyat 1Malaysia (PR1MA) Government initiative to deliver affordable housing to middle income households. Prepayment Payment of all or part of a loan before maturity. Provisional Lease Land that are yet to be surveyed by the Land and Survey Department. May have tenures of 45, 60 or 99 years. Purpose-built Office

When about 75% of the initial design is made for office use. Supported by other services or facilities like banks, restaurants, retail lots or post offices.

Native Title Land Land in which dealings must be carried out between natives, subject to the Sabah Land Ordinances. Notice Period The length of notice required to be given by landlords or tenants to end tenancy.

O Occupancy Certificate (OC) A formal document issued by local authority once the property has been completed and can be occupied. Off-the-Plan Buying property based on just the plans, before it is completed. Overhang A building up selling pressure. Defined by the government as projects issued Certificate of Fitness for Occupation or Temporary Certificates of Fitness for Occupation (TCFO) but remains unsold despite being on the market for at least 9 months. Overnight Policy Rate (OPR) The OPR is generally the interest rate set by BNM and used for monetary policy direction. The OPR correlates to the Base Lending Rate (BLR), which in turns determine the interest rate on your loan.

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Real Estate Investment Trust (REIT)

Sales and Purchase Agreement (SPA)

Investment mechanism allowing individual investors buy shares

A written contract between buyer and seller that obligates seller

of income-producing real estate assets owned and operated by an

to sell and buyer to buy a product or service.

organization or company. Strata Title Refinancing

The length of notice required to be given by landlords or tenants

Taking another loan at a lower rate to finance something again.

to end tenancy. Suburban Areas on the edge of a large town or city which are predominantly residential.

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V Vacant Possession A state in which a completed development is in when is it not fit or ready to be occupied. Valuation Appraisal conducted to determine the market value of property and/or land.

Y Yield Can be based on capital appreciation of a property or rental income over expenses expressed in terms of net percentage.

Z Zero-lot bungalow Similar to regular bungalows but has significantly smaller land sizes. Zoning Planning tool used by the government to determine how land should be gazetted and used.

T Tenancy Agreement A contract between landlord and tenant about the tenancy detailing all terms agreed upon. Tenancy Period The length of tenancy agreed by landlord and tenant. Time Sharing A property owned by several joint-owners used as a vacation home at specified times. Townhouses 2 units of houses stacked on one another occupying one lot. Definition varies from country to country.

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HOT TOPIC  by Rebecca Michelle

Plunging into real estate as a millennial We are “the generation” that’s shaping the future.

Millennials, also known as Generation Y,

Unlike previous generations, most millennials

Tips for Millennials Who Want to Invest in

are the demographic cohort following

today come out of college with huge student

Real Estate

Generation X. They the 20-somethings that

loan debt. The spectre of heavy student loan

came of age with less money and fewer

debt has severely impacted millennials’

There are various ways that millennials can

opportunities, re-inventing what having

ability to buy a home. And unfortunately, this

start investing in real estate and many young

the means really means. They are our next

problem is compounded by more stringent

people are taking different routes depending

generation and they’re popping up from

mortgage qualification standards, and higher

on their career, financial history, credit

everywhere across Malaysia.

down payments.

scoring, etc. Here are some ways

The truth is, the housing market in Malaysia

Some millennials are unfortunate enough

right now is in a conundrum. Many people are

that they are trapped in an ‘economic

Investing in real estate is not something

asking if the property prices will go down. Well,

purgatory’, a period where they are unable

you can start doing overnight. There are

the economy is in fact inflating and there is no

to secure jobs that use their potential

some steps that you should take before

right time to buy or not to buy. You should buy

while being chronically underemployed

you buy your first property such as

within your means, when you can.

or overeducated. In other cases, though,

having a good credit score. Fortunately,

millennials are simply trying to save money

when it comes to hard money loans,

The property market is indeed quieter now

and be less spendthrift with big purchases

your credit score isn’t as important

compared to that of in 2010 - 2012. But it

that they don’t see as essential for a full,

as it may be if you were applying for a

means that now would be a good time to

happy life.

traditional loan. Hard money lenders

pick up good offers on property investments.

Work on your credit score

generally look at the value of the However, developers are responding to the

property and not at the borrower’s

For quite some time now, the baby boomer

unaffordability cries by coming out with

finances or credit. However, paying off

generation has been the dominant population

attractive offers for many first home-buyers/

all your loans and having a solid credit

group. While they are now interested in

avid investors. “Some developers are offering

score will give you an advantage.

downsizing, millennials are having children

zero to minimal cash down payment to lure

and growing in their careers. Thus, buying a

home buyers, so you should take advantage

house would be the next logical step. With

of the available opportunities. But before

There are plenty of ways to get financing

positive returns potentially on the horizon,

you jump onto the bandwagon, you must

for your real estate investment, but

millennials are on the right track.

thoroughly do your research first”, Khalil

having proof of consistent saving will

added.

help when finding a lender. Successful

Khalil Adis, founder of Khalil Adis Consultancy

Save

investors would normally start saving

Pte Ltd and Director of REI Mediaction Sdn

Millennials today are most probably your

a certain amount from their salary that

Bhd, observed that there are still strong

archetypal 20-year-olds. Many of us have

stays tucked away until they are ready

demands for affordable properties but due

labelled them, studied them, written about

to make their first purchase. This can be

to the lack of affordable homes, developers

them and simply tried to understand them.

difficult if you have a student loan, but

would have to be creative and think of

But at the end of the day, there is one thing

if you focus on paying off high-interest

innovative concepts to continue attracting

every brand needs to recognise when it

debts first, pay more than the minimum

buyers in a lull market.

comes to this generation; money and means

balance due (if possible) and manage

don’t always go hand in hand.

your spending well, you will be able to pay off your loans quicker.

www.PropertyHunter.com.my

“Some developers are offering zero to minimal cash down payment to lure home buyers, so you should take advantage of the available opportunities. But before you jump onto the bandwagon, you must thoroughly do your research first”

Start Networking

aren’t about gut feelings, emotions or

The bottom line is still the purchasing

An important aspect of investing is

following your heart—it’s all about doing

power is dependent on one’s disposable

getting to know the right people.

the math.

income, a factor that in turn is dependent on

Meeting with real estate agents, Study the market and location

to be an influential force in the real estate

you learn about the industry and you

A thorough research must be carried

industry, not only as future or potential

will make important contacts along the

out before you even step foot on the

homebuyers, but also as future employees

way.

property you plan to buy. You can start

and entrepreneurs in the housing industry,

by finding your target price range and

be it today or next year. But as it stands, the

Follow your head

seeing what homes in that range sell,

current market scenario seems to suggest a

It’s easy to base your decisions on your

how long they take to sell and how many

‘buy’ signal and if you do have the means of

heart instead of your head, especially

times the price was reduced. When

buying, by all means do buy. The property

when it comes to real estate. A property

looking at the neighbourhoods and real

prices aren’t getting cheaper and we aren’t

may look perfect on the outside but

estate markets, here are some aspects to

getting younger.

it may not be all it’s cracked up to

take into consideration: schools, medical

be. Getting professional advice is

centres, supermarkets, road access, etc.

contractors and other investors will help

economic growth. Millennials will continue 5.

always a smart move when it comes to buying property. After all, investments www.PropertyHunter.com.my

featured EVENT

FEATURED EVENT  by Property Hunter

17th anniversary, 17:17 flag off for Sutera Harbour 7K Charity Sunset Run Run Forest, Run!

To mark the 17 th anniversary of the Sutera

programmes, the Sabah Thalassemia Society

Property Hunter had the privilege of

Harbour 7K Charity Sunset Run, participants

and the Special Olympics Sabah.

partnering up with Sutera Harbour to show

gathered at the Pacific Sutera tennis court to

support for the cause.

wait for the flag off at 17:17 hours (5:17PM) on

Participants ran along the Sutera Harbour

1 July 2017.

Boulevard towards the Imago Link Bridge,

Property Hunter took the chance to give out

passing by Gleneagles Kota Kinabalu, Kota

free Nestle ice cream on the day to runners as

According to Sutera Harbour’s Group Deputy

Kinabalu Times Square before returning to

part of an ongoing promotion of the Property

Chief Executive Officer, Gerard Tan, proceeds

Sutera Harbour Resort by making a U-turn at

Hunter App.

collected from the run will go to the district’s

the end of the junction of Imago Shopping

Pemadam to aid their anti-drug awareness

Mall.

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FEATURED EVENT ď&#x201A;&#x201E; by Property Hunter

Local properties on display at PIHex 2017 Apparently, you can also get good property deals at the mall.

The first Property, Investment and Home

held at Imago Shopping Mall.

Expo (PIHex) of the year, organized by Maxx

(Tropicana Garden, KL), Welton (Green Haven, Johor), Greenfield City Sdn Bhd (Greenfield

Media (S) Sdn Bhd took place on 23-25 June

PIHex highlights property investment

Residence, Menggatal), MK Land (ATC 2, KL),

at Imago Shopping Mall.

opportunities by developers from both East

Symphony Life (Union Suites, KL), Hasrat

and West Malaysia. Among the names that

Realiti (Sri Khazanah Residence, Papar), DF

This year, PIHex teamed up with ridesharing

exhibited during the expo include: Hap Seng

Development (Park Residence, Penampang)

giant, UBER, to give out 2 Free Rides worth

Properties (Kingfisher Putatan & Kingfisher

to name a few.

RM5 each to visitors going to and from Imago

Inanam), Grand Merdeka (GM Mall, Telipok),

Shopping Mall throughout the expo period.

The W Group (University Utama Square,

Despite the sluggish property market,

KKIP), Kinsabina Group (Triconic Tower,

investors are still showing interest in the

This is the first of the PIHex series with two

Bundusan), Mah Sing Group (Dsara Sentral,

property sector, namely condominiums in

more coming on 1-3 September and 1-3

Lakeville Residence, KL), Tropicana Corp

East Malaysia.

December respectively, which will also be

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featured EVENT

FEATURED EVENT  by Property Hunter

Strategic partnership signing ceremony between SG Group and XPCC Engineering Construction Group A friendship so concrete, it’s cement.

SG Group and China’s XPCC Engineering

XPCC or Xinjian Production and Construction

Construction Group has signed an agreement

Corps is a large-scale state owned multi

to undertake development of SG City in

enterprise group that manages the economic

“With buses ferrying tourists from airport to

Penampang. The ceremony held on 8 July

resources of the province of Xinjiang, and

hotel to islands, we hope to build a one stop

was officiated by Guest of Honour, YAB Datuk

has been operating since 1954 with 3 million

centre whereby tourists can enjoy all our

Dr Joachim Gunsalam, Assistant Minister of

employees.

local delicacies and products without having to leave our development,” says SG Group

Ministry of Local Government and Housing Sabah.

largest street food centre.

“We see great potential in Malaysia,

CEO Mr Tee.

especially Sabah in the fields of tourism, SG Group a local property development

agriculture and real estate development,”

Development will commence in 3 phases

group, chaired by its Chairman Datuk Zulfikri

says Mr Ni Nan, Malaysia Chief Representative

and will eventually house some 700 units of

Saidin and CEO Mr Tee Hong Wee executed

of XPCC.

residence, a hypermarket and a wholesale

a strategic partnership agreement with XPCC

mall.

Engineering Construction Group, one of the

SG Group and XPCC will partner to

largest companies in China and a fortune 500

development its flagship project SG City, a

SG Group has also announced that Taylor

company in the field of tourism, agriculture,

mixed development envisioned as a tourist

Hobbs International will become its exclusive

construction and development, with 11

hub, anchored by Sabah’s first and tallest

sales and leasing agent and will be providing

public listed companies under its umbrella.

purpose-built Airbnb hotel. SG City with 48

rental guarantees to investors.

blocks of shoplots will also feature Sabah’s

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FEATURED EVENT  by Property Hunter

Kinsabina Group and MCC Overseas signs contract of work You are the brick, I am the mortar.

It was an auspicious event for Kinsabina

The 16-storey condominium consists of

The success of this project represents a

Group on Saturday, 1 July 2017 as they

768 units and an array of both indoor

new achievement for MCC Overseas in

signed a contract of work with MCC Overseas,

and outdoor communal facilities for the

its exploration of the Malaysia market. At

enabling MCC to spearhead progress on

family such as swimming pool, a children’s

present, MCC Overseas has built a regional

Kinsabina’s Triconic Tower in Bundusan,

playground, badminton court, basketball

development framework covering the

Penampang.

court, courtyard garden, BBQ area and a

Sarawak Renewable Energy Corridor (SCORE)

pond with gazebo.

and Sabah Development Corridor (SDC).

Prominently positioned to have a vantage point in Penampang, Triconic Tower is within

MCC Overseas Ltd. is the subsidiary

easy access to the city centre and KKIA. This

company wholly owned by MCC Group,

development is with close proximity to a

one of the World Top 500 companies. The

mixture of high and low rise commercial and

company undertakes the group’s strategic

residential buildings, education hubs and

development plan and has established its

eateries for daily conveniences.

leading position at entire Group in oversea markets.

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featured EVENT

FEATURED EVENT  by Property Hunter

Hap Seng debuts Kingfisher Inanam Condo Entrance Statement The kingfisher is a medium-sized bird. This Kingfisher is a residential high-rise with an 85,000 sqft skypark.

Hap Seng Properties Development Sdn Bhd

Tan said buyers will also be pleased to know

Located within the proximity and comfort

continues to uphold its pride in driving and

that they will receive free kitchen cabinets in

of Inanam town, the Kingfisher Inanam also

delivering excellence in their wide range of

their homes and free wardrobes for the early

boasts spacious units, with sizes ranging

products and services.

birds. On top of that, buyers will also stand a

from 865 sqft to 1,160 sqft. The development

chance to win a CLA 200 Mercedes Benz.

is attractive enough not only because of its

On 17 June 2017, the group unveiled their

location and its high-class amenities, but

Kingfisher Inanam’s Entrance Statement in

“Some say speculators or investors are

the selling price is almost similar to a unit of

a very classy event. Hap Seng has always

responsible in pushing up prices. They study

regular apartment in the market.

been committed to bring out the best in

the market and are quick to decide especially

building industry, from quality, workmanship

on under-priced properties. They prey on

In conjunction with the festive Raya season,

concept and affordability to ensure customer

under-priced properties just like this one

Hap Seng had a raya open house at their

satisfaction. This could only be achieved by

which we are showcasing,” added Tan.

Kingfisher Inanam and Kingfisher Putatan

the close and diligent collaboration of Hap

sales galleries on 1 -2 July and 8 July

Seng’s project team with our consultants

Sitting on a solid, cut ground 4 meters above

respectively. The events featured a luncheon

applied the best practices in their respective

road level, Kingfisher Inanam incorporates

of scrumptious Malay cuisine at both sites.

professions.

the seismic designs. When it comes to safety and security, Kingfisher Inanam offers 3 tiers

Hap Seng also held a Raya Celebration at

In his opening speech, Chief Operating Officer

of security system providing residents with a

Plaza Shell on 13 July. Visitors were treated

John Tan announced that under the newest

safe environment as well as a piece of mind.

to some very special performances from Joe

package, branded Easy Homeownership

Hap Seng has also opted to fence up the

Balanjiu Jr & Friends, Angelyca Lee, Joget

Package, interested buyers will only have to

compound with anti-climb fencing. All these

& Zapin performances by D’Place Cultural

pay RM1,000 booking fee while the S&P and

are to provide buyers as much convenience

Dance Troupe, a catwalk show showcasing

loan legal fees will be waived.

and ease, a resort like lifestyle inspired by

locally designed batik and pearl jewellery.

wellness and nature. Other than the free S&P and big rebates,

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featured EVENT

FEATURED EVENT  by Property Hunter

Roof topping ceremony for Manhattan Suites @ ITCC Shout it from the roof tops!

The roof topping ceremony of the completed

Kinabalu International Airport, the iconic

ITCC will also feature a grand 32,000 sqft

structure was held at the project site in

development will transform the landscape of

Banquet Hall, which would be able to cater

ITCC on Monday, 10 July 2017, attended

Kota Kinabalu once completed.

for over 170 dining tables. This will provide

by Malakun Holdings Sdn Bhd Executive

the community with a comfortable and

Chairman, Datuk Seri Panglima Dr Clarence

ITCC aims to positions itself as a premier

modern venue to host an array of events such

Bongkos Malakun and Managing Director,

business and lifestyle hub in the Greater

as weddings and celebrations. The versatility

Datin Seri Panglima Sylvia Wong Malakun.

Kota Kinabalu zone and become a

of the banquet hall would also allow to

catalyst for growth in the information and

accommodate exhibitions, conferences and

According to Group General Manager, Mr

communications technology (ICT) sector

corporate events.

Ceasar Mandela Malakun, Manhattan Suites

as its 16-storey i-Office Tower is aiming to

was named to emulate the diversity of the

secure approval as the first Multimedia Super

Manhattan Suites offer 24-hour security and

population as well as the world class service

Corridor (MSC) Cybercentre in East Malaysia.

state-of- the-art CCTV for the safety of owners

that is usually associated with New York City

and residents. The doormen, concierge and

in the United States of America. Bringing

Spreading over 10.5 acres of prime land, the

a live-in residential manager will ensure that

this concept to this part of Kota Kinabalu

integrated development will be a benchmark

the needs and requirements of the tenants

will further enhance the lifestyle of the local

in high-speed broadband connectivity as it

are always met.

population as well as making a recognisable

pioneers the use of fibre optic connectivity

impact towards the growing tourism market

throughout the whole development. ITCC

There will be an executive lounge adjoined

visiting Sabah.

is envisaged to house incubators and

to the lush lobby for tenants to conduct

academies to spearhead the ICT industry in

informal meetings or gatherings. For a more

Sabah.

formal meeting or conference setting, tenants

ITCC is envisaged to be a distinctive worldclass development with a comprehensive

are given priority booking for the use of the

range of amenities. This landmark

“We’ve come to understand the millennial

meeting rooms. Owners are also given a

development will have a gross built-up area

generation’s culture of work, play and

free 1-year exclusive membership to Club

of more than 1.6 million sqft, anchored by a

lifestyle being intermingled and the lines

M which shall give them access to the hotel

4-storey 675 units premium retail shopping

that use to divide these aspects of life are

facilities such as the swimming pool, spa and

mall, a 16-storey i-Office Tower, 19-storeys of

now blurred for a better quality of life. This is

fitness centre. Each unit is provided its own

295 prestigious residential SoVo suite units

where SoVo units can offer a solution,” said

allocated on-site parking spot while other

and a 19-storey, 330-room, 4-star rated hotel.

Mr Ceasar.

facilities include children’s playground and

Located less than 10 minutes away from Kota

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laundry facilities.

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featured EVENT

FEATURED EVENT  by Property Hunter

Forest City tour by Country Garden Welcome to the jungle!

Forest City by Country Garden, the sprawling

Tour participants will be given a thorough

EDSB Group. It will become Malaysia’s fourth

10 kmsq island development part of

walkthrough of Country Garden’s

duty-free zone and will feature its own

Iskandar Malaysia, connecting Malaysia

developments in Johor and experience the

customs checkpoint.

and Singapore, will be giving special

progress of Iskandar Malaysia first hand. The

tours to interested parties and potential

main purpose of the tour will be to showcase

Forest City is currently showcasing in PH

buyers. Except for the plane tickets, the

Forest City’s concept and its vision to create a

Gallery on the 2nd floor of IMAGO Shopping

tour will be an all-expense paid trip that

unique and sustainable city.

Mall in Kota Kinabalu. For more info please contact Shawn, at +60163308852 or email

includes transportation, meals, and hotel accommodation for the whole duration of

Forest City, that will be built on 4 man-made

the trip. The maiden trip from Kota Kinabalu

reclaimed islands, is a joint-venture between

to Forest city will take place on 14 July 2017.

China’s Country Garden Group and Malaysia’s

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shawn8852@gmail.com

FEATURED EVENT  by Property Hunter

Experiencing traditional activities for Raya with SP Setia Stay Setia to your roots

In conjunction with Raya, S P Setia held an

mixed development project in Kota

Once completed, Aeropod will be home to

open house at their Aeropod sales gallery in

Kinabalu. Aeropod is the largest integrated

a hotel, retail mall, retail offices, residential

KK Times Square on 8 July.

linear city in Kota Kinabalu spanning over

suites and corporate offices, as well as green

60-acre of land. The project embraces

parks.

Visitors were treated to the art of Batik

S P Setia’s development philosophy of

painting, traditional games, performances

LiveLearnWorkPlay and is expected to be a

To date, retail mall Blocks C and D - the two

and a delicious traditional Malay cuisine

tourist attraction because of its connectivity

blocks facing the main road - have been

catered by Party Play.

as a railway hub and close proximity to the

handed over to their buyers and the OC has

international airport.

also been obtained for the said blocks.

The Aeropod project is S P Setia’s maiden

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FEATURED EVENT  by Property Hunter

Titijaya holds groundbreaking ceremony for The Shore @ Kota Kinabalu And the digging begins!

Titijaya Land Berhad held a groundbreaking

are officially opening a new chapter in the

direct flights from various countries into Kota

ceremony of The Shore @ Kota Kinabalu,

corporate history for Titijaya, expanding our

Kinabalu is an added advantage.

a new waterfront premium class hub in a

presence to Sabah. We are thrilled that it is

very classy style at Le Meridien Hotel this

just 4 months after the signing ceremony and

The Shore is situated in the heart of Kota

morning. The Project, which has a gross

we are able to conduct the groundbreaking

Kinabalu and will feature the highest

development value (GDV) of RM575 million

ceremony today”.

observation deck in Borneo and the first rotating sky bar in the city. The Project

was duly witnessed by the Minister of Local Government and Housing of Sabah, YB Datuk

Titijaya is confident that The Shore will

consists of 561 units across 25-storey with

Seri Panglima Haji Hajiji Haji Noor.

become another landmark here in Kota

built ups ranging from 409 sqft to 541 sqft.

Kinabalu and will be an appealing tourist

The Project is scheduled to be completed in

Speaking after the ceremony Titijaya Deputy

spot in Sabah, especially with the support

2022.

Group Managing Director Mr Lim Poh Yit said:

from Sabah’s state government in new

“With this groundbreaking ceremony, we

developments. Moreover, the existence of

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FEATURED EVENT  by Property Hunter

Fun-filled Raya open house with Gamuda Land We were very “satay-sfied”

The progress and growth of Gamuda Land’s

Gamuda’s recent Kaamatan promotion

Bukit Bantayan Residences has been positive

offered a promising rebate of 3% to its

so far as work on its first block, the Ebena

prospective buyers, was indeed a success.

The colourful event featured various activities

Tower, has already reached Level 13.

The said promotion enabled government

for the public’s entertainment, namely Malay

employees to acquire a 3% rebate for their

traditional dance performance, drawing

Ebena Tower was launched last year while

housing loan. The promotion is said to

competitions and the serving of Malay

the second tower, Cemara Tower, was

end on 31 July, with terms and conditions

traditional cuisine.

released earlier this year. According to

applied.

Gamuda Land’s General Manager, Simon

Sabahan friends,” Simon added.

In conjunction with the Raya spirit, Gamuda

Phang Wah, most units at the Ebena Tower

“We would like to contribute to the local

Land also performed their corporate social

have been swept up with a handful of

community of Sabah. In line with our

responsibility (CSR), presenting donations to

Bumiputera units left at the site.

Hari Raya event, we aim to build more

two local orphanages, Rumah Bukit Harapn

relationships and promote unity with our

and Rumah Anak Yatim Asnaf As Sakinah.

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featured EVENT

FEATURED EVENT  by Property Hunter

Official opening and Raya gathering at Grand Merdeka Mall Come one, come Mall

The Grand Merdeka Mall officially opened

With a span of 900,000 sq.ft, GM Mall

On 8 July, Grand Merdeka Development held

their doors to the public on 2 June 2017.

unveils about 300,000 sq.ft of food and

a Rumah Raya with ERA FM at their GM Mall

Nestled in the residential catchment of

beverage, fashion boutiques, services and

in Telipok. The reception was well responded

365,053 people, Grand Merdeka features its

entertainment. The tenants currently in

by the members of the public. Existing

completely 3-storey sub-urban shopping

operation includes Food Craze, Fun Scape, SS

tenants 1Grocer Supermarket & 1Homeware,

mall, spread across 6 acres of prime land

Supersave, DBKK One Stop Centre, Captain

SS Supersave, Food Craze, Toys Wonderland

along Jalan Tuaran.

Hungry, Mr & Mrs Cook Café, Kuali Café, Smart

and Funscape sponsored merchandises in

Phone Accessories, Ann Ash Fashion Store, RA

the form of cash vouchers and little treats

Mayor of Kota Kinabalu, Datuk Yeo Boon

Sport & Souvenir, Toys Wonderland, Happy

inside the hamper giveaways. Visitors were

Hai, officiated the opening ceremony of

Toys and Puppet Theatre, just to name a few.

also treated to a series of competitions,

Grand Merdeka Mall at Bandar Sierra.

namely the Raya Paling Bergaya (male and

Speaking at his opening speech, Yeo said:

In conjunction with the Ramadhan season,

female), Best Selfie and Raja Karaoke. Winner

“Under my tenure, the city is fortunate to

one of the highlights was the Makan Bersama

of the Raja Karaoke competition walked away

have supportive developers in spurring and

Anak Yatim on 16 June 2017 with the kids

with a brand new Samsung Galaxy J7 Prime

revitalizing Kota Kinabalu. New initiatives

of Yayasan Kebajikan Suria. Local artist Apiz

phone, GM Hamper and ERA Goodies.

must be taken to develop our city in a

Paschya performed in the spirit of Ramadhan

sustainable manner”.

and Syawal.

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PROPERTY NEWS

61 SHAREDA told to build more affordable houses

72 Sabah State Library, hub for public and flight passengers

62 China Keen to invest in Sabah

74 Sabah, the next frontier for economic development in Malaysia

64 RM300mil funds allocated for affordable housing

75 Bus Rapid Transit being planned for Kota Kinabalu

66 Sabahâ&#x20AC;&#x2122;s property market booming with catalytic projects

78 D Golden Gate Condo, a new address in Penampang

70 TAED to be declared unlawful? 60

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PROPERTY NEWS  by New Sabah Times

SHAREDA told to build more affordable houses Yes, please!

“If SHAREDA members were to initiate more affordable housing projects, it will assist the people in Sabah to own decent affordable homes,”

Chief Minister Datuk Seri Musa Haji Aman wants more affordable housing to be built in Sabah. He said the escalating cost of housing is becoming increasingly burdensome to the people. Musa who is also Finance Minister said the cost of housing in Sabah was so high that in some instances the prices surpassed those in Kuala Lumpur. SHAREDA

“The people are not happy because it is

Musa (6th right) and Chew (6th left) and SHAREDA committee members.

increasingly difficult for them to own a house,” he said during a courtesy call by

The Chief Minister, therefore, urged SHAREDA

people in Sabah to own decent affordable

committee members of Sabah Housing and

to play a more aggressive role to mitigate the

homes,” he said.

Real Estate Developer Association (SHAREDA)

rising cost of housing in the state.

led by their president, Chew Sang Hai at Sri

During the courtesy call, Chew on behalf of

Gaya here yesterday.

“While I understand that developers need to

SHAREDA extended an invitation to Musa to

make profits, they must also be reasonable

launch the Sabah Property Exhibition and the

He added that regardless of whether it was

and think of the plight of the people.

CEO Roundtable Conference to be held on

private or public housing development, the people would still blame the government for the rising cost

August 26. “If SHAREDA members were to initiate more affordable housing projects, it will assist the

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PROPERTY NEWS

PROPERTY NEWS  by New Sabah Times

China keen to invest in Sabah Some Eastern expertise.

China companies are keen to invest in

visited the Lahad Datu palm oil industrial

infrastructure development in Sabah

Sabah through an integrated approach

cluster (POIC Lahad Datu) this week

under China’s One Belt One Road (OBOR)

involving aiding in infrastructure

and walked away impressed with the

initiatives.

development, direct investments and

potentials of the state-owned industrial

bringing in related investors.

park.

For China companies to qualify for OBOR funding here, they must have joint venture

This was revealed by top officials of

And, it now wants assurance of raw

Tangshan Chunhua Grain & Oil Group CO.,

materials supply to enable it to build an

Ltd – a diversified China multi-national

oleochemical plant at POIC Lahad Datu.

Qi said that on the company’s drawing board is a 200,000-metric ton bulking

with major interests in vegetable oils and logistics.

agreements with Malaysian companies.

It also would look into encouraging

facilities (tank farms) that would require

Chinese small and medium industries

it to rent or buy 25 acres of land at POIC

The company’s chief executive officer

to invest in related sectors and explore

Lahad Datu.

George Qi and some of his managers

possibilities of securing funding

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Tangshan, along with three other Chinese

spearhead downstream palm oil industries and

companies signed memorandums of

thus far it has attracted about RM3.5 billion in

understanding with POIC Sabah Sdn Bhd,

investments.

developer of POIC Lahad Datu, in Beijing in May. The park with about 2,000 acres developed, The visit here was at the invitation of

is supported by a comprehensive port system

Deputy Minister of Plantation Industries and

including a dry bulk terminal, a liquid terminal

Commodities Datuk Datu Nasrun Datu Mansur,

and a soon-to-be-commissioned container

who witnessed the Beijing signing.

terminal. Port operations began in March 2013. It handled about 500,000 tons of cargo

Based in Tangshan, Hebei province, Tangshan

belonging to its investors and is lobbying for an

Chunhua has 14 subsidiaries and representative

open-port status. Sabah produces about 30% of

offices in Malaysia, Senegal, Canada and Hong

Malaysia’s palm oil, most of which is exported.

Kong. The state government’s desire to promote The company is a major producer of peanut

downstream industries using palm oil and

oil and is diversifying into palm oil. It has a

biomass is hampered by supply assurance

100,000-hectare peanut plantation in Sudan

issues.

and recently completed a palm oil refinery and fractionation plant at Tangshan City.

More than 80% of oil palm plantations in Sabah are owned by big-name players based

“We are keen to work with palm oil players in

in Peninsular Malaysia and most of them have

Malaysia, especially in the business of blending

committed their output to export.

cooking oil for northern region of China, and will be expanding further downstream to produce

Efforts to amalgamate oil palm biomass from

margarine and shortening,” Qi told state

the dispersed plantations and mills have been

officials.

met with logistics difficulties and the diverse interests of the raw material owners.

In addition to oils and fats business, Tangshan Chunhua is actively involved in bulking of palm

Meanwhile, Sabah remains committed to

oil, food processing, logistics, trading and

the objectives of the oil palm NKEA (national

animal feed.

key economic area) which seeks to triple oil palm revenue by 2020, as well as the National

POIC Lahad Datu was set up in 2005 to

Biomass Strategy.

“We are keen to work with palm oil players in Malaysia, especially in the business of blending cooking oil for northern region of China, and will be expanding further downstream to produce margarine and shortening,”

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PROPERTY NEWS

PROPERTY NEWS  by Borneo Post

RM300mil funds allocated for affordable housing The more the merrier!

Dr Sim said affordable housing is a need for all races, be they in rural or urban areas.

Affordable housing is a need for all races, be they in rural or urban areas

With an allocation of RM300 million under

According to Dr Sim, the first programme

the 11th Malaysia Plan, the Housing

requires all private developers to build

Development Corporation (HDC) is

affordable houses to the suggested

targeting to construct 1,000 units of

specifications in their development project.

affordable houses. “The second programme is designed to Sarawak’s Minister of Local Government

address the housing needs of the rural

and Housing Datuk Dr Sim Kui Hian said the

population with a monthly household

state government has launched two housing

income of RM4,000 and below, and those

programmes to assist the low-income group

who have residential lots either in the

in addressing their housing needs.

Land and Survey Department’s village extension scheme or Housing Development

The two programmes, which were launched

Corporation (HDC) development scheme”,

in April 2016 and February 2017, respectively,

he said.

are Skim Perumahan Khas Rakyat (Spektra) and Program Rumah Spektra Permata.

Dr Sim said affordable housing is a need for all races, be they in rural or urban areas.

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PROPERTY NEWS

PROPERTY NEWS  by Borneo Post

Sabah’s property market booming with catalytic projects Shine bright like a diamond

Today, Sabah’s property market is booming, especially in Kota Kinabalu, underpinned by rising private investment and the expansion of tourism industry into Sabah’s real estate sector.

Sabah’s property market has been fairly resilient

Government always welcomes private property

during the period of 2008 to 2014. Over the past

entities to venture into Sabah’s property

years, economic activities have remarkably

market.

improved since the implementation of Sabah Development Corridor (SDC) projects, especially

The growth of Kota Kinabalu’s property

those related to tourism. Following the increase

market is definitely encouraging. Currently,

in touristic attraction sites in Kota Kinabalu,

the government aims to address property

the city has seen an increase in tourists coming

affordability via the “Malaysian My Second

in from the likes of China, Thailand, Korea, to

Home” (MM2H) Scheme. In line with this,

name a few.

foreigners and tourists, especially those who regularly travel here to make Sabah their

The development of the iconic Pan Borneo

second home, are encouraged to take up this

Highway and RM1 billion Bus Rapid Transport

scheme.

will be a boost to the domestic business activities. It is apparent that these will provide

Undoubtedly, Kota Kinabalu is the ideal

extra unique selling points for the property

location to apply MM2H with its strategic

sector here in Sabah.

location and accessibility, adding that there is increasing demand for properties.

Today, Sabah’s property market is booming, especially in Kota Kinabalu, underpinned by

With the handful catalytic projects going on,

rising private investment and the expansion of

growth and investments will undeniably be

tourism industry into Sabah’s real estate sector.

spurred further. Moreover, the existence of direct flights from various countries to Kota

As the State continually strive for more socioeconomic development, the Sabah State 66

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Kinabalu is an added benefit.

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PROPERTY NEWS

PROPERTY NEWS  by New Sabah Times

Tun Fuad Park is gazetted, assures Mayor Can’t touch this.

“I think everybody has to be responsible and refrain from spreading negative statements,”

continued to rent the premises of Putera Ballroom Theatre, Kampung Nelayan Restaurant and the swimming pool area. And the tenancy will end in December this year and after that, they will renegotiate the agreement again, he said. At the moment, he said City Hall has taken back the management of the park including the reflexology centre, the hawkers stall area and a sundry shop. Meanwhile, he said City Hall welcomes the

Rene Jenny

staging of the Taiji/Wushu convention in

Taman Tun Fuad Stephens in Bukit Padang will not be turned into a commercial development

Mayor Datuk Yeo Boon Hai has assured the

“The park belongs to Kota Kinabalu City Hall

concerns expressed by citizens that the

and it is gazetted. There is no issue and I don’t

popular recreational park of Taman Tun

know why people are worrying unnecessarily,”

Fuad Stephens in Bukit Padang will not be

said Yeo after launching the promotional

turned into a commercial development.

event of the 2017 Asia-Pacific Taiji/Wushu Convention at a hotel.

“As long as I am the Mayor, I don’t think we will allow anything to happen,” assured Yeo

“It is just like the Atkinson Clock Tower, I have

when asked by reporters yesterday as there

no power to move it because it is a cultural

were rumours spreading that the park will be

heritage,” Yeo pointed out.

developed for hotel and residential projects. And according to him, currently, the former “I think everybody has to be responsible and

operator Silverrado Corporation Sdn Bhd

refrain from spreading negative statements,”

whose 20 years concession agreement with

he advised.

the then Kota Kinabalu Municipal Council (KKMC) has expired in March this year has

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Kota Kinabalu on Nov 17-20 as it is not only promoting martial arts but also the health aspect. “The Convention also promotes the cultural exchange of which City Mall is very welcome,” said Yeo. Also present was Kota Kinabalu Funei Taiji Association, Sabah president Dato’ Seri Winston Liaw.

PROPERTY NEWS  by Borneo Post

Landowners to be compensated for road upgrade project It’s the only way.

“I am beginning to understand why the people are reluctant to cooperate whenever the government wants to acquire land … it is because of the delay in payment of compensation,”

Science, Technology and Innovation

and found that all procedures have been

Minister Datuk Seri Wilfred Madius Tangau

adhered to but after more than five years,

urged government implementing agencies

the landowners still have not received their

dealing with land acquisition compensation

payment,” he said.

payment to buck up their delivery service. “I am beginning to understand why the Tangau said he was disappointed when

people are reluctant to cooperate whenever

finding out many landowners whose land

the government wants to acquire land …

have been acquired for the road upgrade

it is because of the delay in payment of

project from Kampung Kapa to Kampung

compensation,” said Tangau who is Tuaran

Bundu Tohuri have not been compensated.

member of parliament.

The project had been completed several

Towards this end, he said it was imperative

years back but he was surprised when

for the relevant authorities to discharge

several villagers came up to him to raise their

its duty more efficiently so that all the

complaints about the compensation.

government development programmes could be implemented smoothly.

“They came up to me during my visit to several villages over the weekend and after

“I am very concern about this particularly

engaging and listening to the kampung folk,

after listening to my constituents’

especially those from Kapa until Bundu

unhappiness on the way the issue is being

Tohuri, I want the authorities concerned to

handled by government implementing

resolve the problem.

agencies for the road upgrading project,” he

The HR Digest Landowners are yet to receive their compensations

Tangau had been on a whirlwind programme inside his constituency last weekend beginning with the working visit by Education Minister Datuk Seri Mahdzir Khalid to Mengkabong, Nabalu and Lokos on Friday.

said. “I checked with the Tuaran district office

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PROPERTY NEWS

PROPERTY NEWS  by Daily Express

TAED to be declared unlawful? Innocent until proven guilty.

“Under the new guideline which requires the development plan and the PEP to be sent simultaneously, the duration of the approval is expected to be halved,”

Some 7 members of Parti Solidariti Tanah Airku (Star) filed for leave for a judicial review seeking a declaration that the Tanjung Aru Eco Development (TAED) project is ultra vires and unlawful under Section 9A and Schedule II of the Land Ordinance Cap 30. The 7 applicants named Kota Kinabalu Mayor, Sabah State Government and Director of Lands and Surveys Department as the first, second and third respondent In a statement, the applicants claimed the

Skyscraper City

TAED project was in breach of Section 9A and

File photo of TAED Masterplan

schedule II of the Sabah Land Ordinance Cap 30 as the word ‘alienate’ as defined under

is undertaken to fundamentally change the

The applicants are also seeking an

the Ordinance means to lease or otherwise

beach from what it is now with something

order of mandamus to the second and

dispose of State land on behalf of the

totally different. The beach as it now has

third respondents to compel the first

government in consideration of the payment

generally been preserved for generations

respondent and their agents or servants

of such rent and of such premium, if any as

in its original state but the beach that it will

to stop, discontinue and or abandon the

may be required.

become after the TAED project is completed

implementation of the Tanjung Aru Eco

will be totally different.

Development Master Plan whether by itself or its servants or agents and to restore the

“The undertaking of the TAED project would not be possible without land being alienated

They are seeking an order of certiorari against

Tanjung Aru Beach to its original state and

by the second respondent or the third

the respondents to set aside the master

condition before the implementation of the

respondent and the relevant government

plan on the ground that the Tanjung Aru Eco

Tanjung Aru Eco Development Master plan

agencies.

Development Master Plan is ultra vires and

or any part thereof.workshop on the 1 State

unlawful under Section 9A and Schedule II of

1DCP Champion here on May 12 for the

the Land Ordinance Cap 30.

relevant stakeholders.

They argued that the TAED project was and

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PROPERTY NEWS  by Borneo Post

‘Competitive rate’ without cabotage policy Not to be confused with sabotage, cottage or cabbage.

The prime minister said the decision to extend the airport’s runway was not scheduled in the 11th Malaysia Plan.

The abolishment of the cabotage policy will pave the way for goods to be sold at a ‘competitive rate’, according to the Sabah Housing and Real Estate Developers Association (SHAREDA). “The cabotage policy will give the shipping industry and consumers alike, an alternative to bringing in more goods at a competitive rate. “We use the word ‘competitive rate’ because the costs for logistics does not only depend on shipping alone. “It depends on transport, forwarding, the number of ships that comes here and so on,” said SHAREDA President Chew Sang Hai. When asked whether the abolishment of the cabotage policy would result in a decrease in the price of goods, Chew simply reiterated that the price would be ‘competitive’. “More people will be coming in and more people will export. Definitely, the market forces will have to see some adjustments in the future. “Surely, in my view, there will have to be

The cabotage policy will give the shipping industry and consumers alike, an alternative to bringing in more goods at a competitive rate

some adjustments heading towards the

“We know that the cabotage policy is a

downward trend,” added Chew.

national policy. However, we are very pleased to know that the Federal Government,

Commenting on the recent cabotage repeal,

especially under the leadership of our Prime

which had only started on Thursday, Chew

Minister Datuk Seri Najib Razak, who had

said that he was in agreement and happy

always been willing to listen to us.

with it. “He had been listening to our appeal, which “As a consumer in Sabah, we have been

enables us to modify and amend the policy

appealing to the government for it to

to suit the needs of the Sabahans. This is very

consider this policy and to modify and

good,” Chew said.duped by the lies of the

amend this policy.

opposition parties who want to instigate and confuse them.

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PROPERTY NEWS

PROPERTY NEWS  by Borneo Post

Sabah State Library, hub for public and flight passengers It’s flying off the shelves!

Wong said the library would benefit not only flight passengers but also members of the public who were waiting for the arrival of their friends or families.

Sabah State Library director

He said the new library at KKIA was

Wong Vui Yin said the Sabah State

expected to commence operation by

Library had obtained approval

the end of this year.

from Malaysia Airports Holdings Berhad (MAHB) to operate at the

This would be the first library

Kota Kinabalu International Airport

operating within an airport in

(KKIA).

Malaysia, Wong said.

Wong said the state library behind

The Sabah State Library and PWD

DBKK was demolished due to its

were currently planning the design

structural issues and was temporarily

and renovation of the library at KKIA.

relocated to Suria Sabah.

Wong said the library would benefit

He said the site had been handed

not only flight passengers but also

over to DBKK where a new DBKK

members of the public who were

building would be built.

waiting for the arrival of their friends or families.

Wong also added that DBKK would allocate a floor to the state library

According to Sabah Tourism Board,

once the building is completed.

tourist arrivals in Sabah rose by 7.9 percent at 3.427 million visitors

“We will then move the library from

in 2016, the highest since 2013,

Suria Sabah back to the DBKK

generating RM7.25 billion from

building,” he said.

tourism receipts and giving an extra 10 per cent into the State economy.

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PROPERTY NEWS

PROPERTY NEWS  by Borneo Post

Sabah, the next frontier for economic development in Malaysia Star Trek got nothing on us.

“Certainly Sabah is the next frontier State for economic development in Malaysia. We still have land, the potential to go forward and a lot to be uncovered in Sabah economically-speaking.

Speaking to the media at a breaking-offast event recently, Minister in the Prime Minister’s Department in charge of the Economic Planning Unit (EPU), Datuk Abdul Rahman Dahlan said that Sabahans are fortunate to have a Prime Minister who is concerned about Sabah. Rahman said he brought the entire top EPU team to Sabah last year to have a first hand look at the situation in the city, Kota Belud, Kota Marudu and Kudat, as a result of which we are now seeing improvement on the Yayasan Sabah-Indah Permai stretch and the flyovers. Travel See Write

He said the State Government has also requested to extend the dual carriageway from Yayasan Sabah to the upcoming Sabah

“I’m here to help the State Government and

He said all this is possible because the EPU

International Convention Centre (SICC) along

the people of Sabah and I really hope that

has a huge budget of about RM46 billion

Tg Lipat into three lanes which is faced with

in the years ahead, we will be the region

yearly.

congestion daily. “I am also looking into that.”

yang kedepan dibidang ekonomi (ahead economically in the region).

Even then, 2017 was not really his budget as it was decided before he agreed to move from

“Certainly Sabah is the next frontier State for economic development in Malaysia. We still

He said, no doubt there are still issues

the Urban Well-being, Housing and Local

have land, the potential to go forward and a

regarding the high cost of living which is

Government portfolio

lot to be uncovered in Sabah economically-

hoped would be alleviated by the recent

speaking.

exemption of the Cabotage shipping policy

Yong also hoped that the association, under

and are being tackled one by one through

the leadership of Chin, would reach greater

improved port efficiency, among others.

heights.

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PROPERTY NEWS  by Property Hunter

Bus Rapid Transit being planned for Kota Kinabalu To BRT or not to BRT? That is the question.

“An LRT service would be justifiable if there are tens of thousands of commuters to be transported daily. Kota Kinabalu does not have such a population base for now, so BRT is the way to go,”

iLoveSabah

The groundwork is being laid for major

oversees the Economic Planning Unit (EPU).

improvements in the city’s public

Currently, Sabah’s 134km railway service that dates back to 1900 operates from Kota

transportation system, with a bus rapid

He said the BRT was part of a master plan

Kinabalu to the southwest town Beaufort and

transit (BRT) system on the drawing board.

to improve Kota Kinabalu’s public transport

on to Tenom in the interior.

system, which he described as “challenging” Saying it is going to be “a very exciting

now.

time for Sabah” now that he is the Minister

Abdul Rahman said the EPU had approved the upgrading of the constantly congested

for EPU, Minister in the Prime Minister’s

“It has been said that someone using public

stretch between the Indah Permai housing

Department in charge of the EPU, Datuk

transport travelling 15km from Inanam to

area and the Yayasan Sabah complex in Likas

Abdul Rahman Dahlan, said he would

Putatan here will take as long as two hours.

here.

do his best to help the State but without

Surely this can be improved,” he said at a

compromising the other parts of Malaysia.

breaking of fast with the press.

“An LRT service would be justifiable if there

He said a proposal for a statewide railway

widening works be extended all the way to

are tens of thousands of commuters to be

service would be considered if it was found

Tanjung Lipat near the downtown area.

transported daily. Kota Kinabalu does not

to be viable for transporting cargo and

have such a population base for now, so BRT

commuters between Sabah’s east and west

is the way to go,” said Abdul Rahman who

coasts.

The state government, he said, had also requested the road improvement and

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PROPERTY NEWS

PROPERTY NEWS  by Property Guru

Sabah needs to integrate economy with Kalimantan Some sugar from the neighbour.

“Everything that you want, they have it in Kalimantan. At the same time Sabah can provide medical services, good education, tourism and service-oriented economies.”

Abdul Rahman said it is time for Sabah

presidential decree in 2012. It is Sabah’s only

Rahman, who is in charge of Economic

to stop looking at the peninsula as an

Kalimantan neighbour and about the same

Planning Unit (EPU) portfolio, said the world

economic umbilical cord but strengthen

size.

has changed and so have economies and

economic cooperation with regional areas,

cited the difficulty Sabah now faced sourcing

instead, especially BIMP-EAGA (Brunei,

“Everything that you want, they have it in

Indonesian labour for its plantations because

Indonesia, Malaysia and Philippines – East

Kalimantan. At the same time Sabah can

they get better pay in Kalimantan.

Asean Growth Area).

provide medical services, good education, tourism and service-oriented economies.”

He said BIMP-EAGA has been around for

“There are massive plantations being opened up where they can stay with their families.”

some time but needs fresh ideas and

He pointed out that by integrating the

personally felt that Sabah has plenty to gain

economies Sabah had everything to gain and

He also took a dig at the opposition, saying

by integrating its economy with the new

cited the case of Indonesians in Kalimantan

he had yet to see parties like Warisan

Indonesian province of North Kalimantan

having to fly to Jakarta in order to catch a

presenting any economic blueprint for

which borders Tawau.

flight to Japan or Hong Kong.

Sabah. “All the time it is about politics 24/7. I

Kalimantan has plenty of coal, oil, minerals

“They won’t have to transit 3-4 hours by flying

like their stand on the economy, education,

and plantations. North Kalimantan, the

to KKIA (Kota Kinabalu International Airport)

foreign relations, security, social security, etc”.

fifth Kalimantan province, was created by

and proceeding north,” he said.

have not heard anything about their policies

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PROPERTY NEWS  by Property Hunter

There is no right time to buy; Buy within your means You are the master of your destiny.

“The property market now is quieter compared to that of in 2010 - 2012. But it means that there are now many good offers out there for grabs. Kingfisher Inanam is one of them”

Keeping to its promise to the Ministry of

Shell on Wednesday, Chartered Surveyor, Sr.

In wake of the earthquake, Hap Seng

Local Government and Housing to build

Liaw Lam Thye, commented that now would

has taken a precautionary step ahead

more than 1,000 units of affordable homes

be a good time to pick up good offers on

to ensure its future residents’ safety is of

that caters to the lower to middle-income

property investments.

utmost importance. The seismic design of

groups in Sabah, Hap Seng Properties

the Kingfisher Inanam takes into account

will be unveiling their Kingfisher Inanam

“The property market now is quieter

the potential seismic forces, in order for it

Entrance Statement for Phase 2. The event

compared to that of in 2010 - 2012. But it

to respond appropriately to the risks and

will take place on Saturday, June 17, from

means that there are now many good offers

threats posed by natural hazards to the

10am - 4pm at their Kingfisher Inanam

out there for grabs. Kingfisher Inanam is one

building and its occupants.

Sales Gallery, Inanam.

of them”, he added.

The price per unit starts from RM380,000. It is

Hap Seng Chief of Operating Officer, John

only because of its location and its high-class

indeed affordable, and for a high-class condo

Tan, said: “People are asking if the property

amenities, but the selling price is almost

it is hard to get this price nowadays, given the

prices will go down. Well, the economy is in

similar to a unit of regular apartment in the

current sluggish property market.

fact inflating and there is no right time to buy

market

Kingfisher Inanam is attractive enough not

or not to buy. You should buy within your Speaking in the press conference at Plaza

means, when you can”.

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PROPERTY NEWS

PROPERTY NEWS  by Property Hunter

D Golden Gate Condo, a new address in Penampang Unrelated to bridges of any kind.

AJ Alliance is giving a “Waiting for OC Promotion” offer to 4 units above RM900,000 per unit. Avid investors will also be able to receive an 11% rebate when they purchase a unit. To date, there are still 18 units left up for grabs.

Today Penampang strives as one of the major industrial and commercial centres within the greater Kota Kinabalu area. The Lido Penampang area is the one of the most sought after and preferred location by most home buyers and investors due to its proximity and good conveniences such as schools, clinics/hospitals, supermarkets/ shopping malls, eateries, hotels and airport. D Golden Gate Condominium by AJ Alliance is nestled in the Lido Penampang neighbourhood. This 10-storey residential development, upon completion, will house 48 units and will include a swimming pool, multi-purpose hall, gymnasium, playground, 24-hour security and a total of 83 parking bays. AJ Alliance is giving a “Waiting for OC Promotion” offer to 4 units above RM900,000

Responses from potential buyers have been

9 different types of residential units ranging

per unit. Avid investors will also be able to

reassuring, with approximately 63% bookings

from 1,348sqft – 2,934sqft and comes with a

receive an 11% rebate when they purchase

made. The residential development, to date,

competitive price from RM673,550.

a unit. To date, there are still 18 units left up

is 100% completed and in the process of

for grabs.

obtaining OC.

please contact Celine on 016 834 0666 or D Golden Gate Condominium offers spacious

www.PropertyHunter.com.my

For more information on the development, Yvonne on 012 802 0303.

PROPERTY NEWS  by Property Hunter

Lucky lady picks up iPhone 7 in PH contest Saves me from getting a new phone!

With the birth of the app, property listing and searching are made even simpler.

In conjunction with the launching of the long-awaited Property Hunter Mobile App, this year, the Property Hunter team held a “Download, Sign In and Win an iPhone 7” contest from 1 February – 30 June 2017. The draw for the iPhone contest took place on 12 July at the PH Office Lounge and saw Ms Elaine Chung as the lucky winner of the contest. When asked how she got to know about the iPhone contest, Elaine merely acknowledged the advertising materials done by Property Hunter and simply downloaded the app. “I never thought I’d win this out of all the people who entered the contest but I’m glad I

Elaine Chung (centre) with employees of Property Hunter

did”, she said after claiming her win at the PH Property Gallery in Imago Shopping Mall.

merchants, such as Adelphi & Co., Vino Vino,

There are currently 4 projects showcased

Tong Hing supermarket and many more.

at the PH Property Gallery: Triconic Tower

With the birth of the app, property listing

(Kinsabina), LakeVille (Mah Sing), Forest City

and searching are made even simpler. Some

PH Property Gallery was officially opened

(Country Garden) and LakeFront @ Cyberjaya

of the new features of the app include the

on 28 March, this year. The gallery is said to

(MCT Berhad). For more information about

QR code feature, whereby, users of the app

help build a strong presence and branding

development projects, visit PH Property

can enter any of the PH expos and events

awareness in Kota Kinabalu. The objective

Gallery on the 2nd floor of Imago Shopping

without having to wait in line to register

behind this gallery is to execute a mid to

Mall from 10am – 10pm daily.

manually at the registration desk. One of the

long-term approach of either three (3), six (6)

other exciting features of the app is the PH

or twelve (12) months to gain more market

The Property Hunter team will also be giving

Rewards section. Users get exclusive offers

share to achieve higher sales target for the

away amazing weekly prizes soon, so keep

and discounts from any of the participating

developer.

your eyes and ears peeled for this space.

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PROPERTY NEWS

PROPERTY NEWS  by Borneo Today

Streetlights to be installed along Pan Borneo stretch from sigah roundabout The light that guides my way.

Siambun, the State Assemblyman for Moyog, said that there is no need for the PDC to wait for the actual handover of the highway to JKR Sabah to enable them to proceed with the installation of the streetlights.

Borneo Today Terrence stands by the side of the junction to Kampung Limbanak observing traffic flow

Terrence Siambun has taken to task

along that stretch of the highway with

the State Government and Penampang

deaths recorded due to the absence of

District Council (PDC) for the delay in the

streetlights.

installation of the streetlights along the Pan Borneo Highway stretching from the

Siambun also said that the highway’s close

Sigah roundabout to Kampung Potuki.

proximity with houses by its side itself increases the chances for more accidents

Siambun, the State Assemblyman for

to happen.

Moyog, said that there is no need for the PDC to wait for the actual handover of the

“I have been informed by a villager that

highway to JKR Sabah to enable them

a motorcyclist coming out from one of

to proceed with the installation of the

the many houses or junctions along the

streetlights.

highway could easily be knocked down by a speeding car along this highway because

“Several accidents have already occurred

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the area is too dark,” he said.

PROPERTY NEWS  by Free Malaysia Today

Recession in Malaysia in 2018, predicts expert At least it’s not the end of the world. Right?

However, he said, the palm oil industry would do well due to the La Nina effect which will see more rain than expected, pushing production and prices for the edible oil upwards.

“Malaysians will feel the pinch of recession from next year onwards due to various factors, including a decline in consumer confidence and the retrenchment of workers from such sectors as oil and gas, banking, retail, and electronics,” he told FMT. “Prices of medium and high-end homes will drop, with property speculators starting to tighten their belts as bank loans become harder to get.” Hoo pointed out that Malaysians have

Professor says all sectors, except the palm oil industry, will be affected by the recession

experienced a recession in almost every decade since the 1960s.

the best time to own a medium to high-end

Bank Negara finally imposed stricter

property,

regulations on market speculators in 2012.

He said in the early 60’s the recession was

However, he said the delay had caused

caused by global rubber prices, and another

This is because the property market had

recession in 1967 was due to the ringgit crash.

a property bubble with property prices

started to show signs of slowing down six

In 1970, it was caused by global rubber prices

artificially increased.

months ago aftermarket speculators failed to

while in the 80s, the recession was due to the

get bank loans or buyers or tenants for their

Hoo said the “fake demand” had caused

outflow of funds and a property crash.

properties.

more houses to be built. He predicted that

In the1990s, Malaysians experienced

He said some of the houses were going for

recession again but this time it was due to a

in Johor Bahru and 1,000 in Penang would lie

almost RM100,000 cheaper. For instance, he

currency crash which saw economic growth

vacant.

said, a condominium unit that was going for

of -7 percent, he said.

RM500,000 in 2012 was now being sold for

To overcome the “fake demand”, he said,

RM420,000.

Bank Negara should tighten bank loans for

about 6,000 houses in the Klang Valley, 3,000

“In 2008, we experienced another recession

developers, forcing them to sell completed

but we managed to pull through very quickly.

He said property prices had shot up after

The 2018 recession is expected to hit almost

properties at a cheaper price. “Most of

Bank Negara’s delay in kerbing greedy

all sectors,” he added.

them built the properties in 2013 when the

market speculators from buying and selling

prices were still inflated. Even if they sell the

properties under the Developer Interest Hoo also said for those looking to buy a

remainder of their unsold units at a cheaper

Bearing Scheme which exercise the “willing

home, the next two-and-half years might be

price, they will still make money.”

buyer willing seller” concept.

www.PropertyHunter.com.my

APARTMENT FOR SALE

Extracted from PropertyHunter.com.my