Property Hunter Magazine by Property Hunter Magazine

Housing The Nation

Is it really happening?

COVER STORY

Building Your Dreams For A Better Life

SPECIAL FEATURES

ISSUE

Budget 2016 : SHAREDA’s 7 Proposals To The Government

RM9.50

Ringgit Down, Thus Property Prices Up

71 (Incl. GST)

SHAREDA PROPEX 2015 23 - 25 OCT 2015 10am - 8pm SABAH TRADE CENTRE

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CONTENT ISSUE 71

Cover Story SkyVue Residence

Featured Property Showcase SHAREDA PROPEX 2015

East Malaysia Property News

Featured Property Showcase Mah Sing Group

Contributor: Dr. Daniele Gambero Housing The Nation : Is it really happening?

Featured Property Showcase Delta Heights

Featured Property Showcase Wah Mie Group

West Malaysia Property News

Featured Property Event Cityscape Awards For Emerging Market 2015 “Asian Developers Stole The Show”

Featured Property Showcase Hatten Group

Featured Property Event KL Traders Square

Featured Property Event Agile Property of China Upbeat About Malaysia’s Property Market

International Property News

Banking And Investment News

Coffee Talk • Property Exhibitions Minus The Banks? • Property Prices Down 10 Percent, Approval In 12 Months • Ringgit Down, Thus Property Prices Up • Condos – More Facilities Does Not Necessarily Mean It Is Better

Sabah Property Listing

20 68

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COVER STORY | SkyVue Residence

LIFESTYLE DEVELOPER IN SABAH Building Your Dreams For A Better Life

NBLand Group is a property development group of companies that is led by a dynamic and creative team. Its vision is to develop projects that focus on improving the lifestyle for Sabahans. It is committed to helping Sabah flourish to its fullest potential and strives to create cohesive communities through the careful integration of its projects into the marketplace. Its parent company, Eng Han Bina Sdn Bhd, is a pioneer in the construction industry and has successfully constructed many projects throughout Malaysia since 1992. Eng Han Bina has

been specializing in building landed properties and high rise projects for some of the top developers in Malaysia. Since its establishment, Eng Han Bina Sdn Bhd has completed more than 320 projects with a total value of RM2.8 billion and currently has on-going contracts that are worth RM1.94 billion. Its resume includes properties such as The Tube @ Prima Avenue and Wisma LYL in Petaling Jaya; One Legenda, Taman Segar and The Peak@ Bukit Prima in Cheras; Premiere Hotel in Klang, Aston Kiara 3 Condominium in Mont Kiara, Kinrara Mas in Puchong; Alam Damai @ Luyang, Dâ&#x20AC;&#x2122;Banyan Residency @ Sutera Harbour and Grand Merdeka @ Menggatal in Kota Kinabalu.

Rooftop Sky Garden

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SkyVue Residence Guard House

Since 2006, Eng Han Bina has ventured into the property development industry through its property arm, Eng Han Property Sdn Bhd, having completed and ongoing developments at total gross development value (GDV) of RM 840 million. This includes projects such as Titi Heights @ Balik Pulau in Penang; Taman Emas @ Kuala Lipis in Pahang; Taman Desa Penaga @ Kulim in Kedah; Taman Denai @ Puchong in Selangor; Suteramas @ Kemaman in Terengganu; and Taman Idamansara in Lahad Datu, Sabah. The advantage of having a solid background in building construction has given Eng Han Property Sdn Bhd the upper hand in developing properties and grow further on.

The SkyVue Residence Lifestyle

The team at NBLand Group aims to follow suit by creating its own success story with one iconic development after another, scaling new heights in design, style and elegant urban living.

SkyVue Residence is redesigning the meaning of chic and comfort living in a safe environment that is ideal for you and your family.

Look up to the sky and you will see the latest iconic condominium that is set to change the skyline of Kota Kinabalu. Sleek and elegant in design, SkyVue Residence is an upscale condominium that rises above the sprawling suburb of Kobusak, Penampang, one of the most sought after locations for home buyers and investors. The condominium development has been perfectly planned to cater to the needs and preference of young professionals and families with quality amenities and thoughtful touches that will surely enhance the urban living experience.

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COVER STORY | SkyVue Residence

A Complete Living Experience

SkyVue Residence soars 22 storeys into the clouds and boasts 200 residential units including eight penthouses and a four-level multi-storey car park. Each unit has a built-up area that ranges from a cozy 1,200 sq ft to a very generous and spacious 3,500 sq ft with price per unit starting from RM490 per sq ft upwards. Designed to cater to the different needs of each home owner, this most anticipated residential development offers an unsurpassed level of convenience, security and style.

Living Room

The building is orientated specifically to keep direct heat away and to maximize the flow of natural air to provide a cool and comfortable setting. Large windows allow ample amounts of natural sunlight in as well as the views from outside to blend with the comforts of your personal living space. These well-planned features have created a space that is casual chic, comfortable and cost effective to maintain. The four corner duplex penthouses offer the ultimate in luxurious lifestyle with its â&#x20AC;&#x2DC;bungalow in the skyâ&#x20AC;&#x2122; concept. Each penthouse has a generous floor space of 3,500 sq ft and opens up to a private balcony where you can enjoy the spectacular surroundings high above the hustle and bustle of urban life below.

Dining Area

The most outstanding feature of SkyVue Residence has to be its magnificent rooftop garden. The iconic arrow-shaped roof above the open-air rooftop garden is visible from every direction and is set to become a major landmark of distinction in Penampang. The panoramic views of Kota Kinabalu City, the South China Sea and Mount Kinabalu offer the perfect stunning backdrop to relax and host trendy parties. As the city lights dim and the stars come out to play, you can indulge in some quiet time to unwind at the end of the day in this little slice of paradise. Adding more natural elements to complement the modern features of the building are the sky terraces, one for every three floors. The sky terraces are warmed by natural light and cooled by tropical breezes to create a relaxing ambience to read a book, have a chat with friends or just watch the clouds float by in the cobalt blue sky. SkyVue Residence is located in one of the most dynamic development centres in Kota Kinabalu and is a much sought after neighbourhood providing excellent accessibility to Kota Kinabalu city centre, Kota Kinabalu International Airport, medical centres, schools and universities, shopping and business hubs. It is the premier location for those who want to enjoy unparalleled convenience and a prestigious lifestyle in an exciting locale.

Master Bedroom

Bedroom

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Bathroom

SkyVue Facilities

Sky Terrace

Kobusak Aerial View

SkyVue Residence Features • • • • • • •

• • • •

24-hour security guard surveillance, CCTV, intercom and multi-tier security system. High speed fibre optic broadband infrastructure. Access card to residents’ floor and public areas only. Landscaped pathway to reception counter. Well-designed and comfortable reception lounge area for visitors. Management staff at reception counter to attend to residents’ concerns. Premium facilities that complement the SkyVue Residence lifestyle include a children’s playground, landscaped garden, swimming pool, wading pool, Jacuzzi, BBQ area, multi-purpose hall and meeting room. 3-minute drive to KKIA terminal 1. 5-minute drive to the Kota Kinabalu City Centre. Easy access to nearby tourist attractions such as cultural villages, wildlife park, and nature trails. The structural design of this building has taken the seismic loading requirement into consideration.

N B L

NBLanD

North Borneo Land Avenue Sdn Bhd

+6088-738 298 / +6088 448 008 www.nblandgroup.com

Exclusive Marketing Agent: 014

+6016 879 2163

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SUSTAINABLE LIVING- THE WAY FORWARD 23 - 25 OCTOBER 2015

10am - 8pm

SABAH TRADE CENTRE

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From left to right : Quek Siew Hau (Council Member), Jen Kah Gen Foh (Council Member), Reggie Sua (Council Member), John Tan Duo Zer (Council Member), Datuk Susan Wong Siew Guen (Immediate Past President), Raymond Chan (Council Member) Datuk Francis Goh Shun (President), Ar. Ronnie Ang Guo Wei

Call To Change SHAREDA PropEx 2015 Campaigns for Sustainable Living as a Way Forward 22

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n an attempt to reduce global warming, the provision of green design with sustainable energy is one of the most critical challenges facing developers today. We are all consciously involved in the burning of fossil fuels, and its large scale depletion has put significant amount of stress to the environment. A major contributor to this energy consumption is from Malaysian households that use cooling and refrigerators in an alarming 44% and 21% respectively. Recently it was announced under the 11th Malaysian Plan, that Kota Kinabalu will be one of four major cities in the country to act as a catalyst for stimulating growth - both economically and socially. “Sustainable Living - The Way Forward”, the theme for this year’s SHAREDA PROPEX, aims at realizing Kota Kinabalu as the most ‘liveable’ city in the region. It will be an exciting year for developers as it will be in line with government efforts to establish and improve infrastructure services like public

(Council Member), Pengiran Saifuddin Bin Pengiran Tahir, JP (Council Member), Ben Kong Chung Vui (Vice President), Wesley Chai Meng Kong (Treasurer-General), Chew Sang Hai (Deputy President), Dato’ Ir. John Chee Shi Tong, JP (Vice President), Tee Hong Wee (Council Member), Datuk Sr. Chua Soon Ping (Secretary-General), Johnny Wong Chen Yee (Council Member), Chew Fei Sean (Assistant Secretary-General), Ir. Melvin Disimond (Council Member)

transportation, road network connectivity, conducive education hubs for learning, good health care centres and security. It is high time for developers to take action and employ sustainable practices for all building projects from this day forward. As developers, it is important to correlate present needs without compromising the needs of future generations. This can be exemplified through innovative design practices such as energy efficiency, use of recycled materials, indoor environmental quality, sustainable site planning & management and water efficiency for water conservation. Applying sustainable passive design practices, will lead to better and healthier lifestyle choices for house buyers in the long run, while reaping the benefits of greater appreciation of their property value. Therefore, developers need to think about and understand the important roles they play in promoting a low carbon lifestyle, coupled with efficient use of resources and good design practices to make their projects not only liveable, but beneficial to everyone’s wellbeing.

PROPEX 2015 aims at promoting awareness by: •

Conducting seminars and education programmes on green design to raise awareness among buyers;

•

Setting up a “Green Pavilion” section in the exhibition, showcasing eco-friendly and sustainable building products and construction materials with green labels and certificates;

•

Go Green certified projects for developers; a product branding and marketing initiative with tax incentives given by the Government.

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KEY MESSAGE Message From

The Guest of Honour Y.A.B. DATUK SERI PANGLIMA MUSA HAJI AMAN The Right Honourable Chief Minister of Sabah

ongratulations to the Sabah Housing And Real Estate Developers Association (SHAREDA) for continuing to play its role in promoting economic development in Sabah as well as championing professionalism in real estate development and home ownership. The annual PROPEX exhibition has set a benchmark in terms of reflecting the sentiments of the property market. The Sabah Government appreciates the contribution of real estate developers whose businesses are crucial in sustaining a wide range of other businesses. This is in line with the governmentâ&#x20AC;&#x2122;s desire to see wider private sector participation in fulfilling the development goals of the country, such as those aimed by the Economic Transformation Programme (ETP).As the Sabah Government continues with its agenda in accordance with the Sabah Development Corridor, the ETP and other timely policies, the property development sector is expected to remain vibrant and responsive to needs on the ground. I also wish to congratulate SHAREDA on your second consecutive publication of the Sabah Property Development Annual Report 2014 and Market Outlook 2015. This was a commendable project that has widened the database and will have significant impact on the process of planning, policy and creating a roadmap for development.It is hoped that all business groupings in Sabah will emulate SHAREDA so that, in time, a body of knowledge will be developed for the enrichment of our society. PROPEX 2015 is being staged amidst a climate of variable predictions about what the world and regional economies will be like in the coming years. The Sabah Government encourages all quarters to take the cyclical ups and downs in our stride and to take the necessary steps to cushion negative impacts. Together, we shall ride out this sluggish period and emerge stronger. May I wish SHAREDA success in PROPEX 2015, and may the event be a fruitful one for exhibitors and visitors. Thank you.

Y.A.B. DATUK SERI PANGLIMA MUSA HAJI AMAN

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Message From

Y.B. DATUK SERI PANGLIMA HAJI HAJIJI HAJI NOOR

Minister Of Local Government And Housing, Sabah

ongratulations to the Sabah Housing And Real Estate Developers Association (SHAREDA) for another staging of PROPEX which has become an iconic event in Sabah’s calendar of property-related events. It has also become an event the model of which is being emulated by similar exhibitions while SHAREDA entrenches itself as a standard bearer of the real estate sector in Sabah. PROPEX 2015 is taking place as the curtains are being raised for the 11th Malaysia Plan 2016-2020 which is the crucial and final leg of our country’s journey to developed status. A developed economy necessarily means, among many other criterion, quality and sophistication. It is in this context that I would like to congratulate SHAREDA for choosing the theme “Sustainable Living – The Way Forward” because it shows Sabah developers are in tune with the times. At this juncture of our history, the mantra ‘think globally, act locally’ has never been more profound. The market for our products, including our properties, and services is global, while our country has a policy of welcoming international citizens under programmes such as “Malaysia My Second Home” (MM2H). The PROPEX theme drives home the importance of having our mind-set tuned to global issues, and few issues rate higher than the issue of sustainability. The theme also ties in with the growing reputation of Kota Kinabalu as a liveable city and Sabah as a biodiversity-rich state renowned for sustainably managed resources. Combining properties that abide with sustainability principles with what Sabah is known for globally will create a brand of wide acceptance. Kota Kinabalu has been identified under the 11th Malaysia Plan as one of the four cities that will catalyse growth. Thus, SHAREDA’s adoption of the sustainability theme and its member developers increasingly buying into the ‘green design’ sphere will result in ‘blue ocean’ products not easily affected by market volatility. Congratulations to SHAREDA and may PROPEX 2015 be another huge success.

Y.B. DATUK SERI PANGLIMA HAJI HAJIJI HAJI NOOR

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KEY MESSAGE Message From

DATUK FRANCIS GOH FAH SHUN SHAREDA President (2015-2017)

Welcome to PROPEX 2015.

he theme selected for PROPEX 2015, “Sustainable Living – The Way Forward” is appropriate and timely because there is no better time than now to champion sustainability in all aspects of our lives. The world we live in is experiencing crises in climate change and food shortage, and we face severe challenges in water crisis, environment and resource management as well as energy conservation. The human society, driven by conspicuous consumption and desire for progress and profits is in fact facing a challenge in accurately defining ‘sustainability’. Can progress be achieved without sacrificing sustainability, or vice versa? As a major business grouping and NGO, the adoption of this theme reinforces our commitment to the principles of sustainability and our desire to promote it as a fundamental business plan for our members’ companies. I’m pleased to know that many of SHAREDA developers have implemented sustainable building systems or incorporated sustainable designs in their projects. Together with the architecture community and professionals in the engineering disciplines, SHAREDA hopes that rain water tapping, modular construction methods (which cut back use of timber in formwork), daylight capture, refuse separation and energy efficiency will become regular features in new projects in the future. As we put together another edition of PROPEX, SHAREDA wishes to record its appreciation to the State government, in particular to the Ministry of Local Government and Housing and various state technical advisory departments for continuing their dialogue with us as we seek to respond to the changing needs of the consumers as well as the business and economic conditions. Congratulations to my fellow council member Ar Ronnie Ang and his team for the success in putting together PROPEX 2015. I hope all exhibitors and visitors a successful outing at PROPEX 2015.

Datuk Francis Goh

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Message From

AR. RONNIE ANG GUO WEI Organising Chairman of SHAREDA PROPEX 2015 SHAREDA Council Member (2015- 2017)

t was announced recently that under the 11th Malaysia Plan, Kota Kinabalu has been chosen as one of four major cities in the country to act as a catalyst for stimulating growth both economically and socially. The time is therefore ripe for Sabah to embrace green design and make energy efficiency a key performance criterion and Kota Kinabalu an energy conscious city. “Sustainable Living – The Way Forward” is the theme for PROPEX 2015. It reflects SHAREDA’s aims at realising Kota Kinabalu as the most ‘liveable” city in the region. This is in cognizance with government efforts in enhancing infrastructure services like public transportation and road network connectivity, conducive education hub for learning, good health care centres, modern social and public amenities and security. Besides working towards a more green efficient city, let’s not forget other issues that have affected us in recent months. The property market is expected to further consolidate this year as a result of cooling measures and the impact of Goods & Service Tax (GST). After six months of implementation, coupled with the recent Ringgit depreciation, and despite general market sentiments that have remained cautious - rest assured, that it is still the best time to get into the property market as share and unit trust markets are volatile. Property buying is still the best for maintaining the value of money. In particular, medium priced properties of around RM500,000 and secondary markets will continue to appreciate in view of good demand. With the above notes, on behalf of the Organising Committee in SHAREDA, I wish everyone a successful and fruitful event at the PROPEX 2015 on 23-25 October 2015 @ 10:00 a.m. – 8:00 p.m. at Sabah Trade Centre, Kota Kinabalu! Thank you and all the best.

Ar. Ronnie Ang Guo Wei

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EXHIBITORS 1. Property Developers

BOOTH NO

COMPANY NAME

PROFILE / DESCRIPTION of Exhibits & Services

APEX JUTA SDN BHD Suite 1-10-E1A, 10th Floor, CPS Tower, Centre Point Sabah, No. 1, Jalan Centre Point, 88000 Kota Kinabalu; PacifiCity Site, Jalan Istiadat, 88400 Likas, Kota Kinabalu.

Pacificity, a mulit-phased intergrated development that sets the standards for future lifestyle developments. The bustling metropolitan centre of Kota Kinabalu. Overlooking the picturesque bay of Likas and surrounded by Kota Kinabalu’s most prime suburbs, Pacificity presents a multi – phased mixed development spread 25 acres of land in Likas Bay.

BERIBU UKIRAN SDN BHD Lot 10, Ground Floor, Block B, Iramanis Centre, Off Ringroad, 88300 Kota Kinabalu, Sabah. Tel: 088-383 333 Fax: 088-382 222 Email: franzelfrancis@bandarierra.com

Bandar Sierra Apartment, Menggatal Phase 3A2-2, New & Final Phase. Including 2 bedroom with 712 sq. ft. and 3 bedroom with 952 sq. ft. Starting price from RM203,725 to RM 292,825.

BINA PURI PROPERTIES SDN BHD Lot 104-107, Block L, Lorong Plaza Permai 5, Alamesra, Sulaman-Coastal Highway, 88400 Kota Kinabalu, Sabah. Tel: 088-255 046 Fax: 088-255 064 Email: info@twins.com.my Website: www.facenook.com / twinsrealty

One Jesselton Condominium Just as the first ray of lights greets you with its warm embrace where life begins, experience the very best it may offer, only at ONE JESSELTON - featuring only 125 exclusive units set admidst an urban paradise at Kepayan Ridge along Jalan Banjaran. It introduces Dual-key and semi-eco environmental building concept and boasts 5-star facilities. One Jesselton is strategically situated within a host of conveniences and accessibility to nearby amenities such as medical & education institution, banking institution, supermarkets, shopping mall and adjacent to various established commercial centres and etc.

Jesselton View Condominium Jesselton View is a secure, modern and serene community, offering a collection of contemporarily designed, spacious and classy homes. It offers truly peace-mind living with 24 hours gated and guarded feature in a well-landscaped community. Our idea behind Jesselton View is to provide a high-standard accommodation in a harmonious setting with the right combination of quality ingredients for the lifestyle you longed for • • •

Unique and spacious façade Spacious layouts Low density with only 80 units per block

Jesselton View sets the modern lifestyle through the nature. Perched on an elevated land, it boasts a stunning and varicosity panorama and offers close-knit community, artful architecture and an easy accessibility. It gives families room to breathe and spaca to grow in this safe, relaxed and welcoming community. There are many oppurtunities for recreation. The beautifully landscaped garden is perfect for enjoying the great outdoors. You can also enjoy all the fun of the pools, come rain or shine, the nature forest view of the mountain and sea. 4

CHANG CHENG DEVELOPMENT SDN BHD Lot 53, Block 1, Ground Floor, Signature Office, KK Times Square, Off Coustal Highway, 88100 Kota Kinabalu, Sabah. Tel: 088-486 778 / 486 779 Fax: 088-486 780 Email: changchenggroup@gmail.com Website: changchenggroup.com.my

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Eco-Park Bukit Sepanggar (Phase 2) • 1st Wireless Smart Home in Kota Kinabalu • 5 Storeys Detached Condominium with Lift • 3 Bedrooms with 3 Bathrooms • 30% reserved for Bumiputra with 5% Discount • Splendid Location with Great Amenities and Green Energy Enviroment • 250 meters from Main Road with Good Accessibility to Jalan Sulaman and Jalan Tuaran bypass • 24 hours Security Services and CCTV Surveillance • Lift Lobby Every Floor and Individual Garden • Basketball & Badminton Court, Children Playground • Sky Garden - Barbeque Pit, Firness Centre, Rooftop Garden and Yoga Zone • Free Gift - Free S&P, Free Kitchen Cabinet, Free Laminated Flooring and Free Wifi in Public Area

DF DEVELOPMENT SDN BHD Lot 53A, 2nd Floor, Block I, KK Times Square, 88100 Kota Kinabalu, Sabah. Tel: 088-259 861 / 212 262 / 213 262 Fax: 088-254 262 Email: dfd_sb@yahoo.com.my

Mixed landed resident comprises of semi-detached & terrace units at Penampang, Sugud. Called Park Resident Sugud. Development situated adjacent to AN BORNEO HIGHWAY PHASE 1.

DOCOMO DEVELOPMENT SDN BHD Lot 22, 1st and 2nd Floor, Block c, Millennium Centre, Jalan Lintas, Kepayan, 88200 Kota Kinabalu, Sabah. Tel: 088-311 911 Fax: 088-312 828 Email: docomo.sabah@gmail.com

Docomo Development Sdn Bhd is launching the stunning and painstakingly conceived BEL’DRA 3-Storey LINK-BUNGALOWS this PROPEX SHAREDA. A limited edition of only 32 units, this latest addition of Taman Putra Pogun offers complete comfort and luxury in a coveted living. The design touted two unique ensuite Master Bedroom with Garden Terraces, one measures 1,097 sq. ft. and another 905 sq. ft, the first of its kind in Sabah. You get all the space you need for privacy and a growing family. DOCOMO – building communities, bridging ties.

ENG HAN GROUP MDLD 7068, Lot 320, 1st Floor, Bandar Sri Perdana, Phase 3km 4, Jalan Silam, 91100 Lahad Datu, Sabah. Tel: 089-863 395 Fax: 089-863 397 Email: deltaldu@gmail.com Website: www.ehproperty.com.my

Residential & Commercial projects under Eng Han Group: • High rised condominium Skyvue Residence located at Kobusak, Penampang KK. • Preview / Prelaunch of E Residence Apartment at Telipok, Sabah. • 1Damansara the build & sale Semi Detached at Lahad Datu, Sabah. • Ongoing project of Residential + Commercial Taman Titi Heights at Balik Pulau, Penang. • Taman Denai Puchong, Residential at Puchong, Selangor.

GREENFIELD CITY SDN BHD Lot 4, Block b, Ground Floor, Lintas Jaya Uptownship, Jalan Lintas, Kepayan Highway, 88200 Kota Kinabalu. Tel: 088-858 922 / 858 933 Fax: 088-726 060 Email: greenfield_jacobchong@yahoo.com

GRAND MERDEKA DEVELOPMENT SDN BHD Lot B625-A, 6th Floor, Wisma Merdeka, Phase 2, Jalan Tun Razak, 88000 Kota Kinabalu. P.O.Box 11614, 88817 Kota Kinabalu. Tel: 088-267 889 Fax: 088-215 889 Email: grandmerdeka@gmail.com Website: www.grandmerdeka.com

1. 2. 3. 4. 5. 6. 7. 8.

Security Entrance 24hrs CCTV Surveillance Swimming Pool (30M) Gymnasium Kids Pool Kids Garden Playground Jogging Track

9. 10. 11. 12. 13. 14. 15. 16.

Maze Garden Open Lawn Terraces Linear Park Community Pavilion BBQ Pits Shaded Garden Basketball Court Badminton Court

Grand Merdeka Development Sdn Bhd (formerly known as Payung Niaga Sdn Bhd) is one of seasoned company in Sabah. Its successful era started in 80’s when it has converted the foreshore land into Wisma Sabah which is situated in the heart of Kota Kinabalu cityscape. Under the leadership of Mr. Chew Sang Hai (Diretor), in 2011, Grand Merdeka Development Sdn Bhd decided to make a ‘grander’ appearance & being ever ready to compete with amongst developers to developer mixed development called Grand Merdeka which consist of GM Mall, GM Home, GM Corp & GM City on a 19-arce land. Adjacent to Grand Merdeka Mall, Grand Merdeka Home which consists of essential provisions outlet such as hypermarket and home furnishing store, 5 to 6-story offices at GM Corpt and signature office suites, wellness centre, hotel and specially mall at GM City.

67, 68

49B

61, 62

The Projects: • Wisma Harbour View, Sandakan: 36 Units of 6 storey shop/office/residential and multi-storey car part • Wisma Merdeka Phase I & II, Kota Kinabalu: 13-storey shopping arcade cum office complex • Segama Shophouses, Kota Kinabalu: 85 units of 4-storey shophouses • Wisma Sabah, Kota Kinabalu: 5-storey office building • Bandar Ramia-Ramai, Sandakan: 142 blocks 4-storey shophouses • Radiant Court, Kota Kinabalu • Likas Plaza, Kota Kinabalu: 23 units, 3-storey shop/office • Bayshore Condominiums, Kota Kianablu: 86 units, luxurius condominiums • Inanam Square, Kota Kianablu: 26 units, 3-storey shoohouses • Taman Tuan Huat, Penampang: 8 unit’s shophouses

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GOLDEN ADDITION SDN BHD Lot B-1-9, First Floor, Damai 118 Plaza, jalan Pintas, 89500 Penampang Kota Kinabalu, Sabah. Tel : 088-726 133 Fax : 088-726 126 Email : emennial.fung@ deltagroupmalaysia,com Wesbite: www,deltagroup.com.my

Delta Riverside Light Industrial park at Kuala inanam in Kota Kinabalu, Sabah presents a modern industrial development spread across 18.64 acres of land. Located approximately 5 Kilometres from the urban centre of Kota Kinabalu, Delta Riverside is an iconic industrial park with modern facilities and unique design elements.

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Delta Riverside offers a combination of 48 units of 2-Storey showrooms spaces, office lots and production facilities, from which comprises 6 units of detached lots, 26 semidetached units and 16 units of terrace lots. The developments boast a good selection of designs namely Type A/A1, Type B/B1/B2 and Type C. The development is the first to implement 24-hour security surveillance with its gated and guarded concept. Perimeter fencing and lighting is another safety measure aimed at creating a secure and conducive environment.

GOLDMINE PROPERTIES (ARTE Plus) Wisma Mutiara (Block B), 165-3-11, Jalan Sungai Besi, 57100 Kuala Lumpur. Tel: 03-92221 6628 / 03-9221 3628 Fax: 03-9221 3836 Email: david@goldmine.com.my Wesbite: www,goldmine.com.my

Arte Plus (Jalan Ampang) KL. Please visit www.nusmetro.com/arte-plus

GOLDMINE PROPERTIES (OPUS) Wisma Mutiara (Block B), 165-3-11, Jalan Sungai Besi, 57100 Kuala Lumpur. Tel: 03-92221 6628 / 03-9221 3628 Fax: 03-9221 3836 Email: david@goldmine.com.my Wesbite: www,goldmine.com.my

Opus @ Kualu Lumpur. Please visit www.opus.com.my

HATTEN PROPERTIES SDN BHD F3-96, Hatten Square, Jalan Merdeka, Bandar hilir, 75000 Melaka, Malaysia. Tel: 014-321 5215 Fax: +06-283 1827 Email: rachellai@hattengrp.com Wesbite: www,hattengrp.com

Harbour City is a 6-acre mixed-used marine-themed development located on the Eastern shores of Pulau Melaka. Harbour City is a self-sustaining, fully incorporated ‘city of amusement’ which infuses three vibrant elements - Retail Mall, Theme Park and Thematic Hotel. The most striking feature is its marine design element and interior concept. Inspired by Melaka’s heritage as a major maritime port, the exterior is shaped like a cruise ship with the bottom deck formed by the 800-unit, Harbour City Mall where each shopping floor is designed to reflect the life on different oceanic levels.

HARDIE DEVELOPMENT SDN BHD Lot 35, DBKK no. K-4, Lorong Plaza Permai 2, Alamesra Sulaman Coastal Highway, 88400 Kota Kinabalu, Sabah. Tel: 019-880 8863 Fax: 088-256 812

Terrace House 2 ½ storey

HAP SENG PROPERTIES DEVELOPMENT SDN BHD I3-0, I3-1, I3-2 Lorong Plaza Kingfisher 6, Plaza Kingfisher, 88450 Kota Kinabalu, Sabah. Tel: 088-433 711 Fax: 088-438 711 Email: srinorfitrianims@hapseng.com Website: www.hapsengland.com

Hap Seng Properies Development Sdn Bhd brings over 50 years of property development excellence in Sabah @ West Malaysia. Developments featured include single and double-storey terraces, double-storey semi-detached, condominiums and commercial centres in:

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Bandar Sri Indah and Ria heights (Tawau) Bandar Sri Perdana and Palm Heights (Lahad Datu) Astana Heights (Sandakan) Kingfisher Inanam and Kingfisher Putatan (Kota Kinabalu) Nadi Serviced Residences (Bangsar), Aria @ KLCC (Kuala Lumpur)

This home-grown company has become a household name trusted by many to deliver on its promise of quality and value. 16

HASRAT REALITI SDN BHD A-12-4, Northpoint, Mid Valley City, No. 1, Medan Syeh Putra UTara, 59200 Kuala Lumpur, Malaysia. Tel: 03-2282 6282 Fax: 03-2283 1688 Email: micishere91@gmail.com

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Our on-going project, Sri Khazanah Residence is a modern concept, comprising gated communities, a new residential district and exquisite lifestyle in the midst of lush green environment. Sri Khazanah Residence Phase 1A is the 1st phase with comprising of 12 units 3-storey shoplot and 71 units of double storey terrace house, 10 create another lush green living and landmark in kinarut.

KINSABINA SDN BHD Wisma Kinsabina, Noonsob Baru, KM 7, Jalan Penampang, 88300 Kota Kinabalu, Sabah. Tel: 088-724 111 Fax: 088-711 741 Email: ksbnsb@gmail.com Website: www.kinsabina.com

Riverside Residence @ Sodomon Just minutes away from the city, this serene property emphasizes a low dersity of 134 condominium units from a comfortable 955 sq. ft. to a luxurious 1180 sq. ft. of space with notable facilities. Casablanca Residence Gates and guarded terrace housing development in Kolombong well equipped with clubhouse amenities. The 94 units of double/triple terrace houses offer spacious and modem architectural design. Timbok Jaya Apartment @ Tuaran 1200 units of affordable homes along Jalan Sulaman, Tuaran with ‘condo’ facilities. RM30000 incentive for first time buyers under MyHome scheme. Every unit has a floor area of 880 sq. ft. with a spacious balcony. Aman Pesona Beachside Villas Enveloped by mangrove forest, the ideal 120 units single-storey beach villas are poised to be the first comprehensive stand-alone gated and guarded detached resort villar 800 meters away from Sabandar beachside.

K.T.I SDN BHD Lot 68 & 69, Ground Floor, 1st Floor & 2nd Floor, Wisma LTF, Lorong Buah Pala 3, Taman Nelly, 5 ½ Miles, Off Jalan Tuaran, 89397 Inanam, Kota Kinabalu, Sabah. P.O.Box 14161, 88847, Kota Kinabalu, Sabah. Tel: 088-430 088 Fax: 088-439 671 Email: sales.ktigroup@gmail.com Website: www.ktisbgroup.com

KTI Group had its humble beginning as a property developer in 1984. During the 1990’s, the company has undertook Government Turnkey Projects that involved Completing, designing, building, financing, completion and handing over to the government worth a total of RM368 Million. More information on past projects can be found on www. ktisgroup.com. KTI Group is now undertaking several projects including Puncak Gloxinia in Kinarut South, the first PPA1M Project in Sabah consisting of 1296 units of condominium-style affordable housing for government servants. KTI will embark on more exciting projects in future for the benefit of the people of Sabah and Malaysia.

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K.K.I.P SDN BHD Lot 11B, Industrial Zone 1, No. 9, Jalan 1A, KKIP Selatan, Kota Kinabalu Industrial Park, 88460 Kota Kinabalu. P.O.Box 21955, Luyang, 88777 Kota Kinabalu, Sabah. Tel: 088-498 001 Fax: 088-498 011 Email: kkipsb@gmail.com Website: www.kkip.com.my

KKIP is conceived and designed to be a modern metroplex that offers a comprehensive mix of investment, education, commerce, leisure, and residential opportunities. With a master plan that is firmly grounded on environmentally sustainable development principles, and ISO 9001:2008 certification, KKIP provides not only solid investment opportunities; It also offers an idyllic living and working environment. Together with its solid infrastructure, enviable location and sound logistics, KKIP is poised to catalyze growth not only for the state but for the investor in BIMP-EAGA and beyond.

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LINTASAN MAYANG Block L, Lorong Plaza Permai 5, Alamersa Sulaiman Coastal Highway, 88400 Kota Kianablu, Sabah. Tel: 019-880 8863 Fax: 088-256 812 Email: fungelly@yahoo.com

1. 2. 3.

PUTRA NILAI DEVELOPMENT SDN BHD Wisma BBN, PT7454, Jalan BBN 1/1a, Putra Nilai, Negeri Sembilan, Malaysia. Tel: 06-850 1888 Fax: 06-850 1818 Email: asteen@putranilai.com.my Website: www.putranilai.com.my

Developments in Putra Nilai Lodge Residence, the highly sought-after student centric accommodation, is one of the most lucrative investments in Putra Nilai. Convenience is the key to its stature, where Nilai University is just next door and 3 other major universities within a small radius. Located within the township’s education hub, the development comparises 948 units of student residences that are affordably priced from RM65000.

Shoplots Detached Houses Vacant Detached Lots

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Other projects that would also be showcased during the fair include Damai Floresta, Bellina Villas, 18 Bungalows, and new upcoming project, consist of terrace homes & town house. 22

PRIMA LAND & DEVELOPMENT F-31/32-3, Signature Office, KK Times Square, Off Coastal Highway, 88100 Kota Kinabalu, Sabah. Tel: 088-486 666 Fax: 088-486 667 Email: tony.lai@primaland.com.my Website: www.primaland.com.my

Prima Sumundu Phase 2 - Limited Units Available

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SINAR PEMBANGUNAN SDN BHD 1. No.1, Jalan Sang Kancil Dua, 88809 Kota Kinabalu, Sabah. 2.

1st Floor, Lot 20, Block B Karanmunsing Warehouse, 88000 Kota Kinabalu, Sabah. P.O.Box 10827, 88809 Kota Kinabalu, Sabah.

Menggatal Plaza 2 is located 30 minutes away from the KK City and is situated between Jalan Tuaran Lama & Jalan Tuaran Bypass. It consist of 47 units of 2 storey shop office ranging from 2705 - 2993 sqft. Existing anchor tenants are CKS Hypermarket, Onestop superstore & multibake among others.

Latitud 6 is located 15 minutes aways from KK City and is situated along Jalan Lintas in front of Taman Bunga Raja which consists of 40 units of 3 $ 4 storey shop office ranging between 1136 - 3039 sqft. Both projects are proudly brought to you by Sinaland S/B.

Tel: 088-218 281 / 254 725 Fax: 088-224 373 Email: michael.ling@sinarpembangunan. com.my Website: www.sinarpembangunan.com.my 24

SINO LAND GROUP SDN BHD Wisma Sina Land, Ground Floor, No. 1, Jalan Pintas 89500 Penampang, Kota Kinabalu, Sabah. Tel: 088-703 648 Fax: 088-703 591 Email: tokaidolee@hotmail.com

On Going Project (Beaufort) Taman Eramas Phase 3 & 4 (10 units Double Storey Semi Deteched & 66 units of Double Storey Terrace) Coming Soon Project Mixed Development at Melinsung Commercial Shop lot at Kg. Sugud

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SPURWIN DEVELOPMENT SDN BHD No. 18-1, 1st Floor, Lorong Lintas Plaza 3, Lintas Plaza, 88300 Kota Kinabalu, Sabah. Tel: 088-287 212 / 287 219 Fax: 088-26 3830 Email: lipsan@spurwin.com

Low density 36 terrace units and 18 units Semi Detached located at Taman Casa Ria, Kg. Laya Laya, Tuaran, along jalan Sulaiman highway next to Taman Orchid and The Hope Village (the retirement Home) before the Horse roundabout and 1KM after Crocodile farm. It is also near to supermarket. Restaurant, Sutsal, Crocodile and Rasa Ria Resort. The total 54 units houses are modern design with medium/high specifications: • 3 rooms 3 bathrooms layout with spacious master bedroom with attached bathroom and private balcony. • Vinyl flooring in all bedrooms. • 11’ feet high ceiling to floor. • Kitchen counter top come with sink. • Underground SESB cables from main gate to building. Expected completion 2018.

SPNB Aspirasi Sdn Bhd Pejabat Tapak Tuaran, lot 63A, Wisma Telipok Ria, Phase 2, Telipok, 89200 Tuaran, Sabah. Tel: 088-495 296 Fax: 088-495 395

Apartment Tuaran Impian (FASE 1B) is a new project under SPNB Aspirasi Sdn Bhd, a subsidiary company wholly owned by Syarikat Perumakan Negara Berhad (Spnb). The Development consist of 384 units of 850 sq. ft. four storey apartments and 384 units of 750 sq. ft. four storey apartment. Also known as ATI (1B), it is located about 24 km away from kk city centre and built complete with Surau, Multipurpose Hall and children playground.

TBMC DEVELOPMENT SDN BHD The Ria Showrooms, Block A, Lot 210, Taman Ria, Jalan Lintas 77400, Kota Kinabalu, Sabah. Tel: 088-386 979 Fax: 088-386 978 Email: tbmc.development@gmail.com

T1@Bundusan Kota Kinabalu’s Latest Commercial hotspot

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TMBC Development Sdn Bhd has put together a true piece of artwork which to be held in awe by many and in envy by others. Boasting concept like no other, this project will be the centre of attention in Kota Kinabalu’s rapidly growing commercial sector. T1@Bundusan is emerging proundly at the heart of Kota Kinabalu’s faster growing hub along Jalan Bundusan. Comprises 5-storey with 60 units strata type of retails, offices and F&B outlets together with 1-block of 6-storey boutique hotel and a layer of sub=basement carpark. T1@Bundusan blends both simplicity and exclusivity into modern and unique architecture, well-planned, secure and integrated urban commercial enclave - a masterpiece that stand picture perfect against shimmering city lights. T1@Bundusan will undoubtedly be a benchmark for other developers in the future. It’s hard to disagree that the building is simply stunning and use of modern elements put the building on par with international standards. TMBC Development Sdn Bhd has set and ready to merge the demands of modern world. And else you need to do is to choose and own a unit in T1@Bundusan which ingeniously designed with your needs and contemporary living mind.

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TRINITY GROUP SDN BHD Zp-10, Zest Point Lebuhraya Bukit Jalil Bk 9 Bandar Kinrara, 47180, Puchong, Selangor, Malaysia. Tel: 03-8062 9009 Fax: 03-806 29222 Email: catherinefo@trinitygroup.com.my Website: www.trinity.com.my

To promote Trinity Aquata to the expo visitors. To sell balance units for Z and ZEVA

TOP GREEN DEVELOPMENT (SABAH) SDN BHD No. 2, Lorong Kacang Tanah 1, Jalan Kolombong, Kolombong, 88450 Kota Kinabalu. Tel: 088-386 999 Fax: 088-388 881 Website: www.topgreen –gks.com

Ckondominium Canggih (Canggih Heights Condominium) is situated at Jalan Kota Kianablu-Tuaran By-Pass, Kota Kinabalu Sabah. Kondominium Canggih is a 8 to 12-Storey Condominium comprising 92 units of condominium, designed with sleek, modern architecture and stylish, fully glazed window. OC obtained.

TOWER PARADISE SDN BHD Riverson @ Sembulan, Block B2, No.B2-3-01, Lorong Riverson @ Sembulan, Off Jalan Coastal, 88100 Kota Kinabalu, Sabah. Tel : 088 – 301 088 Fax : 088 – 301 008 Email: pouline@riversoncorp.com

THE W PROPERTY COLLECTION SDN BHD Lot 77-1, Ground & 1st Floor, Wisma New Far East, Jalan Lintas, 88300 Kota Kinabalu, Sabah. Tel: 088-260 727 Fax: 088-266 943 Email: sales@thewgroup.com.my Website: www.thewgroup.com.my

Open for sale: 1. University Utama Condominium, Phase 3 2. University Utama Condominium, Phase 5

WSG DEVELOPMENT SDN BHD Suite No. E9 & E10, 5th Floor, CPS Tower, Centre Point No. 1, Jalan Centre Point, 88000 Kota Kinabalu, Sabah. Website: www.theplamkinarut.com

The Palm Condominium and The Palm Square Commercial Centre, Kinarut The Above project is located less than 20 minutes drive from Kota Kinabalu City Centre, fronting the main road and also sea view. The Palm Square Commercial Centre is located at the front of The Palm Condominium ideally to convenient the residents of the condominium for shopping. Besides 2 & 3-storey shoplots, there will also be a Supermarket that convenient the residents of The Palm Condominium to buy daily necessities. These instantly also improve the economic potential in that area, making this mix development investment worthy. Benoni Commercial Centre, Papar This project is located along Pan Borneo highway and 3 minutes drive from Papar Town, where Papar Middle School is adjacent to this development. This 2-storey shoplots are worth to invest as it is surrounded by shopping mall, supermarket and also residential apartment.

WILAKAYA SDN BHD Lot 51, Ground Floor, Block F, Ruang Singgah Mata 3, Asia City, 88000 Kota Kinabalu, Sabah. Tel: 088-252 177 Fax: 088-268 581 Email: tkwong1030@yahoo.com Website: info@wahmei.com

Wah Mei Group a well-established Housing Developer since year 1979. The company has developed housing project from low cost flat to high rise condominium. The recent project Taman Rimba has obtained the Qlassic score of 77% (CIDB) and also awarded - Best Residential Development (East Malaysia) by South East Asia Property Awards (Malaysia) 2015.

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2. Building Materials / Kitchen & House Wares NO. 1

COMPANY NAME

PROFILE / DESCRIPTION of Exhibits & Services

ECOPUMPS SDN BHD No.23, Kuala Neutron, Lorong Kuala Peutron, Jalan Pintas Ujana, KM1, Jalan Tuaran By-Pass, 88450 Kota Kinabalu, Sabah. Tel: 088-385 000 Fax: 088-389 980 Email: helen@ecopumps.com.my Website: www.ecopumps.com.my

Household and Commercial Water Pumps. Swimming pool pumps, Filters and Accessories. Sales & Service Centre for Grundfos Pumps, Waterco & Watershoppe.

BOOTH NO. 24

3. GREEN Pavilion (Booth Nos. 10 - 18) NO.

COMPANY NAME

PROFILE / DESCRIPTION of Exhibits & Services

EASTERN SOLAR TECHNOLOGY SDN BHD Shoplot 6, 1st Floor, Taman Layang-Layang, 88300 Kota Kinabalu, Sabah. Tel: 088-246 634 / 273 314 Fax: 088-238 211 Email: construction-sb@hotmail.com

EASTERN SOLAR TECHNOLOGY SDN BHD is a solar service provider where we are Malaysia SEDA approved GCPV Solar and authorized to apply feed in tariff quota (sell electric energy to SESB) and install for residential house-owners, stores, companies, warehouse, factories, churches, schools or daycares, landowner (who want to build solar farm on their vacant land). We also sell various type of Green Solar Devices, such as Solar LED Lamp, Solar Gen-Set and other electronic devices.

NIPPON PAINT (SABAH) SDN BHD Lot 9, Commercial Zone 2, Jalan 2 KKIP Timur, 88460 Kota Kinabalu, Sabah. Tel: 088-498 338 Fax: 088-492 238 Email: construction-sb@hotmail.com Website: www.nipponpaint.com.my

PARVERSTONE TRADING SDN BHD Shoplot 6, 1st Floor, Taman Layang-Layang, 88300 Kota Kinabalu, Sabah. Tel: 088-246 634 / 273 314 Fax: 088-238 211 Email: construction-sb@hotmail.com

BOOTH NO. 15

We sell various of elegant concrete pavers products such as Interlocking Concrete Pavers, Prime Pavers, Eurotiles, Decorative Masonry Units & Neupave. Interlocking Concrete Pavers are suitable for warehouse, factories, traffic junction, slip roads, commercial housing roads, car parks, bus terminals, driveways & pedestrian walkways. Eurotiles are widely used for external pavements areas such as walkways, patios, pool decks, light vehicular, traffic area, park & garden landscape.

4. OVERSEA Pavilion NO.

BOOTH NO.

COMPANY NAME

PROFILE / DESCRIPTION of Exhibits & Services

METRO HOME S/B (SOUTHEAST PROPERTY PTE LTD) E-28-5, Block E, KK Times Square, Off Jalan Coastal Highway, 88100, Kota Kinabalu, Sabah. Tel: 088-486 060 / 03-7726 8188 Fax: 088-486033 / 03-7726 3288 Email: karen@gokloffice,com

Selling of Australia Properties. New Project.

NB GLOBAL SDN BHD Penthouse, New Bob Tower, Gottlieb Road, 10350 Georgetown, 10350 Penang, Malaysia. Tel: 017-516 5252 Email: tricialoh@apad.com.au Website: www.apad.com.au

• •

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Australia Property Showcase Wealth Creation Advise

5. SOCIAL HOUSING Pavilion NO. 1

BOOTH NO.

COMPANY NAME

PROFILE / DESCRIPTION of Exhibits & Services

PERBADANAN PR1MA MALAYSIA 1st Floor, Block F, No. 2, Jalan PJU 1A/7A, Oasis Square, Oasis Damansara. Tel: 03-7495 9873 Fax: 03-7840 0268 Email: rozita.jaafar@pr1ma.my Website: www.pr1ma.my

Perbadanan PR1MA Malaysia (PR1MA) was established under Act PR1MA 2012 to design, develop as well as build housing and offer high quality modern lifestyle concept for middleincome urban residents. PR1MA developments are located in the communal area which has a variety of types and sizes. With prices ranging from RM100, 000 to RM400, 000, middle-class. Malaysians are now able to have a residence in strategic locations across the country. PR1MA homes are offered to all Malaysians with an average monthly household income between RM2, 500 and RM10, 000. PR1MA will be the inaugural authorities that will design, build, manage and operate all of the PR1MA developments to be built under the program. PR1MA aims to develop PR1MA communities that offer residents a quality of life which fits in fostering active community. PR1MA will also work with other private developers to provide affordable homes developed by them to the society. At SHAREDA PROPEX 15, PR1MA is here to raise awareness on our program and provide a physical platform for the society to get any advice needed as well as to promote PR1MA free registration. We are opening a counter for those who are interested to register under PR1MA in order for them to be able to apply for any of PR1MA projects nationwide. For more information about PR1MA, please visit our website at www.pr1ma.my

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6. Service Counters NO.

BOOTH NO.

COMPANY NAME

PROFILE / DESCRIPTION of Exhibits & Services

ORGANISER : SABAH HOUSING AND REAL ESTATE DEVELOPERS ASSOCIATION (SHAREDA) Lot 1-3(F), 3rd FLOOR, Beverly Hills Plaza, Jalan Bundusan, 88300 Kota Kinabalu. Tel : 088 – 720 848 / 722 849 Fax : 088- 720 843 Email : secretariat@shareda.com Website : www.shareda.com

Activities during SHAREDA PROPEX’15 1) Lucky Draws 2) SHAREDA PROPEX AWARDS 2015 3) SHAREDA TALKS

PROPERTY HUNTER MAGAZINE Lot 4, 2nd Floor, Block A Heritage Plaza, Jalan Lintas, 88300 Kota Kinabalu. Tel : 088 – 719 787 / 719 987 Fax : 088 – 728 387Email : info@maxxmedia.com.my

Established and distributed its first publication in January 2012, Property Hunter Magazine is East Malaysia’s leading property publication, regarded by industry leaders as the go-to source for property hunting with in-depth property industry news, fresh perspectives, exclusives interviews, development progress, property events, development launches, marketing sentiments, property data, expert contribution from leaders in the industry, secondary market real estate listing and more from Sabah, Malaysia and around the region.

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SHAREDA YOUTH

Standing from left to right : Kevin Thong, Jonathan Wong, Violet Chak, Roy Chiew, Stanley Chee, Alvin Ho Sitting from left to right : Pouline Wong, Benny Ng, Phaedrees Hing, Tee Hong Wee (SHAREDA Youth Chairman)

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FLOORPLAN

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EAST MALAYSIA PROPERTY NEWS

Keep track of the latest property and real estate news plus reviews in the property market in East Malaysia

Niro Ceramic Group Introduces Zirconio To East Malaysia

iro Ceramic Group introduced and launched the leading Spanish tile brand Zirconio last 8 September, at their showroom Niro Tile & Bath, Kolombong in Kota Kinabalu. Zirconio, under the umbrella of Niro Ceramic Group with its headquarters in Malaysia, has underscored its mission to be a global player in the international tile industry with their exquisite, innovative and legendary quintessential collections. According to the spokesperson and Sales Manager Mr. Douglas Yu, the uprising demand of Malaysian’s taste and standard of living is one of the reasons why the company decided to introduce the European brand, Zirconio to the market so that it will provide a wider choice and selection of tiles to customers.

Douglas also stated that this is the first time a locally owned Asian tile manufacturer acquired a European

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tile company – thus making Niro Ceramic Group as one of the few players in the global industry to own manufacturing facilities in both continents. Apart from Zirconio, the company also introduced their new collections under the brand of Niro Granite during the event. Originated from Switzerland, Niro Granite introduced a total of five new porcelain tiles – Nikto, Softwood by EcoForesta, Quartzite, Pozzo and Mediterranean. Also present during the ceremony was Mr. Low Chin Guan, Niro Ceramic general sales manager. The soiree was attended by property developers, architects, interior designers and tile dealers. Niro Tile & Bath showroom is located in Jalan Khidmat-Lintas, Kolombong and now open for public visitors from 9.00 am to 6.00 pm daily. Visit www.nirogranite.com for more details.

OC Finally Obtained After 35 Years Of Waiting

he date of 25th August 2015 went down in history for the home owners of Taman Richdar, as their hope has finally revived. Located in Menggatal, Taman Richdar which was abandoned for more than 30 years has finally received its Occupational Certificate (OC), thanks to the joint effort by the Ministry of Local Government and Housing, City Hall, consultants and property developer Chang Cheng Group. During the OC handover ceremony, Mayor Datuk Abidin Madingkir says that in the context of today’s rising property prices, the rehabilitation of 128 units of houses in Taman Richdar must mean a remarkable relief to the home owners. “This must go into the record as the rehabilitation of the oldest abandoned housing project in Sabah, if not Malaysia”. Today, the previously abandoned Taman Richar has been rehabilitated to match today’s housing estate standard, and coexists in a beautiful neighborhood, near to Puncak Menggatal housing development which is part of the projects developed by Chang Cheng Group. Chang Cheng Group Managing Director Tee Hong Wee stated that the re-development project of Taman Richdar had been anything but easy.

Earnest Enforcement Needed For GST Phase II

“Taman Richdar was at a stage of abandonment and complex legal entanglements that common wisdom would have suggested that it should be left at it was. But the Ministry was determined and we felt in a way obligated as a developer to contribute our resources for a worthy cause”, Tee said. According to Tee, it is easy for any profit-oriented business to consider the enormous task of rehabilitating an abandoned housing project and choose not to be part of it, but they (Chang Cheng Group) put their perspective from the home buyers – and realized that the feeling of having broken hopes and dreams to own a house, investment loss and series of disappointment are not something to be overlooked. Azmain Ismail, Taman Richar Chairman of Residents committee said that they are grateful for the news as they have been waiting for such a long time. Prior to receiving the OC, they felt insecure especially when the houses were not insured. “Some of the residents faced difficulties in getting loans as the banks wouldn’t accept and approve it. Our housing estate was left behind in terms of amenities, unlike any other housing areas. After this we hope it would be easier for us to apply for the upgrading of basic amenities from City Hall”.

nternational Trade and Industry Deputy Minister Datuk Ahmad Maslan said that Phase Two of the Goods and Services Tax (GST) implementation will require earnest enforcement by the Domestic Trade, Cooperatives and Consumerism Ministry to prevent traders from manipulating the prices in the Market, as reported by The Borneo Post. Ahmad, who is also UMNO Information Chief, said stern action should be taken against traders found to have used the GST as an excuse to raise the price of goods, including reporting the offences in the press to serve as a deterrent for other traders.

He urged the people, especially in the rural areas, to give their cooperation by channelling information to the penghulu, village head or district chief on indiscriminate hiking of price of goods in their areas. He also reminded the enforcement officers not to be in cahoots with traders, as this could cause failed or poor enforcement at the expense of the people.

“For example, if stern action is taken against 10 such traders in Keningau, it is enough to discipline the other traders in this district. “Believe me. This is because they network, so they would know who had to face the music, hence they will all be careful. “But if there’s no action against any errant trader, they will do as they please, thinking it is okay to indiscriminately raise prices when it’s wrong to do that.” Ahmad said this to reporters after attending a dialogue on current issues with the Keningau and Pensiangan Umno divisions here last Saturday.

Mr. Low Chin Guan (far left) and Mr. Douglas Yu (fourth from the left) together with Nico Ceramic Group team members Chang Cheng Group Managing Director Tee Hong Wee delivering his speech, and highlighting that the whole process of re-developing Taman Richar had not been that easy, since there were a lot of layers to be penetrated. Datuk Ahmad Maslan

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FEATURED PROPERTY SHOWCASE | Mah Sing Group

THE RESIDENCES, SUTERA AVENUE Mah Sing Group, one of the biggest names in the Malaysian property industry, is set to create a new milestone in the development of luxury lifestyle residences as it inches closer to the completion of its signature project The Residences, Sutera Avenue. Bringing its brand of high quality workmanship and commitment to each project, Mah Sing Group consistently delivers on innovative design and quality finishes, majestic grand entrances, security features, extensive landscaping and green street concept as its hallmark of excellence. Emphasis is also placed on professional customer service that is essential in creating a conducive and safe living environment. THE LATEST CITY LIFESTYLE HOTSPOT Standing out with its sleek and contemporary architecture, Sutera Avenue is poised to be an exceptionally captivating landmark in Kota Kinabalu. Its strategic location along the Coastal Highway, only 3.9km from the Kota Kinabalu International Airport and mere minutes from the city centre, gives Sutera Avenue the upperhand in providing a lifestyle that is accessible, convenient and exclusive.

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The Residences, includes a tower which has a total of 120 units of serviced apartments. The 10-storey Tower 2 was launched in 2014 and offers a choice of either Type A (1+1 rooms) with floor space ranging from 726 – 758 sq ft or Type B (2 rooms) with a generous floor space ranging from 972 – 995 sq ft. Prices for both types start from RM605,000 onwards. Every aspect of The Residences, Sutera Avenue has been meticulously planned to ensure that it continues to live up to the high standards of quality and customer satisfaction that is the cornerstone of every successful Mah Sing Group project. Top priority is placed on security with 24hour surveillance, card access to car park, closed circuit television (CCTV) at the lift lobby and card access to lifts and secured reception lobby. The serviced apartments also come with ground floor reception with professional service staff to attend to residents’ requests and needs. The grand entrance is designed to create a welcoming sense of comfort and simplicity that is echoed in its tastefully decorated hallways and public areas. The Residences sits atop the two-storey Festive Avenue Retail which offers a one-of-its-kind retail

street concept with a 50-feet wide pedestrian boulevard on the ground floor, and wide dual frontage units served by escalator access on each floor. High-speed broadband infrastructure is available to ensure you are connected wherever you are. With a ready catchment from The Residences, Sutera Avenue Serviced Apartments, lifestyle shop offices and surrounding neighbourhoods, Festive Avenue Retail will be abuzz with vibrant activity and possibilities. The mall is built to pamper with boutique shops and tempting cafes and gourmet restaurants for a sophisticated and relaxing retail experience. The 16 units of double-storey lots offer retail space from 2,616 – 3,692 sq ft with price per unit starting from RM3.68 million and above. SLEEK, STYLISH AND SAFE The number of new luxury residential properties is growing by the day and it is essential for potential homebuyers to have the confidence to make the right choice. Quality is one of the major considerations for homebuyers and with the adoption of CONQUAS (Construction Quality Assessment System), you can rest assured that The Residences, Sutera Avenue will be a

product of the highest quality. CONQUAS is a standardized method of quality assessment where the developer is able to set targets for contractors to achieve and also assess the quality of the finished building. CONQUAS was introduced in Singapore in 1989 and has served as a standard assessment system on the quality of building projects. Today, it is widely recognized and accepted internationally as a benchmarking tool for quality. It is now a registered trademark in Singapore, Malaysia, Hong Kong SAR, United Kingdom, Australia, South Africa and India. A LIFESTYLE INVESTMENT The quest to create the most iconic residence with all the ease and convenience to live, work and play has produced one of the most exciting

integrated commercial projects to take shape in Kota Kinabalu. Its appeal to individuals and the business sector has been overwhelming and continues to grow. The 10-storey shop offices at Block A adjacent to the serviced apartment are already sold out while the 16-unit Festive Avenue Retail at Block B has reached 75 per cent in sales. Having all these perks right at your doorstep will make living here one of sheer pleasure and convenience. Live the premium lifestyle you desire in one of the most enviable neighbourhoods in the city at The Residences, Sutera Avenue

T: 6088-262 608

E: info.suteraavenue@mahsing.com.my

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WSG Group’s Soft Launch Of Benoni Gardens

Land In Papar Acquired For RM21 Million

he project of affordable homes by WSG Group Sdn Bhd – Benoni Gardens was launched on 3rd September here in Kota Kinabalu, as reported by The Borneo Post. Located off the Pan Borneo Highway and Papar Spur Road at Papar’s Benoni, the low density apartment project consists of 230 units and divided into two towers of 13-storey blocks, each equipped with passenger lifts. WSG Group managing director Datuk Susan Wong Siew Guen said “Despite the challenges of facing the increasing price of building materials due to the devaluation of Ringgit Malaysia and also the 6% GST (Good and Services tax), which caused construction cost to go up, we still try our best during this critical down time to launch this affordably priced homes for the people at only RM263 to RM316 per square feet.” “Furthermore, we are giving 5% discount for the Bumi lot in which 30% of the total units are reserved for Bumi lot,” she added. According to Susan, all units of Benoni Gardens will have 3 bedrooms and 2 bathrooms, with 870 sq. ft and 960 sq. floor area selling from RM228,000, which is equivalent to RM268 per sq.ft

onwards. Specifically, the unit pricing is RM263 to RM297 per sq.ft for 870 sq.ft units and RM825 to RM316 per sq.ft for 960 sq.ft units. Block B of Benoni Gardens which consists of 115 units had already been sold out. The official launching ceremony will be in this coming October at the Benoni Commercial Centre Site after the Benoni Gardens show unit is completed. “This apartment is located right in the Benoni Commercial Centre, Papar surrounded by commercial shoplots, a supermarket, a shopping mall, fast food restaurants, a petrol station, a hotel and college in selft contained area,” says Susan. In conjuction with the soft launch event, WSG Properties Sdn Bhd also donated RM10,000 to Kinarut Monfort Youth Training Centre, which is located nearby the Benoni Gardens. The company also purchased the 10th Monfort Youth Training Centre Open House and Carnival coupons worth RM5,000 and sponsored another RM5,000 to KKcool drinking water and soft drinks for the occasion. Susan also managed to raised more than RM1,000 of donations for the cause during the event.

16.57 acre leasehold land in Papar, Sabah was acquired by Asian Pac Holdings Sdn. Bhd for RM21.8 million or RM30.20 per square feet, according to The Star Online.

The property investment and development company, in a filing with Bursa Malaysia said the purchase consideration was arrived at on a “willingbuyer willing-seller” basis after considering the development potential to the land, assessment of the location, accessibility, suitability, demand and price for the site.

of the land. The land currently has an unexpired lease term of 909 years, which is expiring on June 28, 2924. According to the company, the acquisition will enable the company to continue undertaking property development in Sabah which is in line with the company’s plan to strengthen its visibility in East Malaysia. The company is now in a preliminary stage of planning a mixed development of commercial and landed residential phases. The proposed acquisition is expected to be completed in the fourth quarter financial year ending March 31, 2016.

Asian Pac is buying the land from Lee Wat Lan, a 58 year old local who is also the registered owner

1. 2.

Datuk Susan Wong giving speeches during the soft launching ceremony of Benoni Gardens Ariel view of Papar Town

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CONTRIBUTOR | Dr. Daniele Gambero

Housing The Nation Is it really happening?

>65 8% 40 - 64 25%

20 39 20%

<14 26%

15 - 25 21%

Figure 1: Malaysian Demographic - Fact File

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ousing the nation has become a strong tagline for politicians and developers in the last 12 months. Most of the praise should be given to Malaysian developers for the fast actions taken to shift their offers from medium –high end residential properties towards more affordable values and sizes. Recently I’ve underlined that too many developers are still offering affordable values in terms of RM/psf - but the end result, due to “oversized lay-out” in terms of builtup, the value of the house soars far above its affordability. Recently, another threat to the “housing the nation” mission is, yet again, averting the possibilities for middle-class families to realize their dreams to own a home: financing has become more and more difficult and getting your loan approved is tougher and tougher by the day. During the last few years, BNM (Bank Negara Malaysia) has introduced a number of restrictions and curbing measures deemed to cool the speculative actions of irresponsible

investors, the infamous “flippers” (buy today, sell in few months and make fast cash). This enforcement has surely worked at reducing unscrupulous actions, but at the same time, it’s been getting more and more difficult for genuine buyers to get their hands on that long desired home. (Figure 1) Authorities, banks and BNM should start evaluating profiles of genuine buyers to understand their weaknesses and strengths; demographic information is crucial these days and strategic to determine the “loan or homepurchasing packages” to be offered. 67% of the Malaysian population is currently aged 39 years and below, the most spoken about Gen Y and upcoming Gen Z or Millennials. This group, representing the future of Malaysia, is for the greatest part, having a net monthly income between RM2,000.00 and RM8,500.00 which should allow them to buy homes priced below RM600,000.00. Authorities and developers should do a more in-depth analysis of the actual wealth-sharing to better understand the meaning of affordable values and, at the

same time, banks should start looking into possible measures to tailor the mortgage offer to the actual “pockets or valet size” of these home buyers. The two tables below show an in-depth study done for one of our clients in the southern region and is quite precise in terms of quantities and values to be offered, to reply in a pro-active way to the demand of affordable homes in Iskandar Malaysia. (Figure 2) Wealth distribution in terms of percentage for households sharing above the available wealth and based on the outcome define the quantities and values of homes to offer. (Figure 3) Apart from this first analysis, we should all consider the fact that saving is not one of the strengths of young Malaysians and consequently, we need to find ways to help them during the purchasing process. As per the table below it’s easy to

Johor Population 2014

3,537,360

State GDP 2012

68,791,000

Per-capita GDP 2013

25,302

Household Mean Income

3,373

Per-capita Mean Income

2,108

Income Class

TOT%

999<

19.60%

1,000 - 1,999

H.Hold

Inc.Share

4.10%

0.70%

15.50%

5.20%

2,000 - 2,999

17.20%

9.10%

3,000 - 3,999

19.10%

14.20%

12.00%

11.50%

9.00%

10.50%

6,000 - 6,999

6.50%

9.00%

7,000 - 7,999

4.40%

7.20%

8,000 - 9,999

5.20%

9.90%

7.00%

22.70%

4,000 - 4,999

63.80%

5,000 - 5,999

16.60%

10,000>

TOT% 5.90%

54.30%

39.80%

Figure 2: Johor Household income based on 1 as average and 1 and 60% of the main contributor

Average DSR used by bank 70% of HH income

Available income for home purchase after deduction of existing commitment equal to 50% of DSR

Affordable home value, As first time home buyer, 30 years tenure @ 4.6% BR

Ideal supply of residential units following income distrbution

understand how unaffordable “affordable” homes are due to the high amount of cash required upon signing the Sale and Purchase Agreement. On top of that, banks are very conservative in their risk calculation and quite often the applicant gets a margin of financing slashed down to 85% for the lucky ones and 75-80% for the less fortunate. Can there be any solutions to all these issues? There are many possibilities to this challenging situation but we all need to be more flexible and just a bit more creative. Several actions which, if implemented, will surely help to spur the purchase of affordable homes for genuine first time buyers. Of course there must be a kind of unconditional support from all parties involved and fair behavior by purchasers. (Figure 4) Bank Negara first; our central bank authority should release some of the introduced curbing measures by allowing transparency for first time home buyers only, easing the high “cash-out” that purchasers have to get ready for when deciding to purchase an affordable home. See the table above again for better understanding. In case the purchaser is buying a strata property, the cash-out amount might be limited to RM38,596.00 as Stamp & Duty on MOT will only be charged later on. But still the amount is impressive if we consider that a RM320,000.00 home will possibly be purchased by a household with a monthly income of RM5,000 to RM7,000.00. How long must it take for a family to save enough to proceed with the purchase of their desired home? A research conducted in 2013 by Sime Darby and the University of Malaya has been determining that the average Household in Klang Valley has a mix of outgoings as per the iconographic above. By looking at the average household income as mentioned, RM5,000.00 to RM7,000.00, and using the percentages shown in the iconographic above, we can estimate the following minimum time-frame, as per the currently imposed “terms & conditions” Estimate (BNM), to enable a young family selling value RM / psf to buy their first home with considering values as per our previous table’s a 1,200 sq.ft value. (Figure 5) home

RM 2,320

1,160

580

120,000

19.60%

100.00

4,800

2,400

1,200

260,000

36.30%

216.67

8,000

4,000

2,000

420,000

21.00%

350.00

11,200

5,600

2,800

600,000

10.90%

500.00

>600,000

12.20%

>500

Higer than 12,000

Figure 3: Calculation Of Cash Out Upon Purchase

These days, people are getting married somewhere between 28 to 34 years old; which means that young families today will only be able to consider looking into their first home from the age of 40

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CONTRIBUTOR | Dr. Daniele Gambero

and above. What happens if any unforeseen extra expenses suddenly arise? And more importantly, what will happen to the house value within the next five to six years? Is there a very high chance that property values will move upward, averting to a farther date for the desired purchase? It is an extremely unwarranted situation and - in my opinion - not a viable way of “housing the nation” Further difficulties will also arise if future owner/s have access to a PTPTN loan for further studies, and quite possibly - that what is to be borrowed first and repaid later, will be forgotten. I’ve already written about this shrouded gigantic issue which might be out of reach to unlucky property owners. Not to mention the unreasonable standing of some banks which are slashing 80% or 85% of the margin of financing for those affordable properties (priced below RM500,000.00) that are located at obscure places such as South of Bangi or Semenyih. Last but not least, most developers keep building unaffordable homes not because of the RM psf, but due to the huge size (abundantly above 2,000 sq.ft.) of the building’s design. It is utterly nonsensical and illogical, and this problem will only keep expanding if there is only constant talk and no action.

LET’S HAVE SOME COMMON SENSE Developers : Will need to build more average sized homes between 1,000 and 2,000 square feet. Above all, homes don’t need to be fitted with M&E and cabinets but instead leave it to the purchaser to choose what they like themselves. There is a higher chance to obtain more affordable values this way. Purchasers: Those with outstanding PTPTN balance need to discuss a repayment plan which will avoid you from getting blacklisted; since April 1st 2015 Bank Negara has started uploading a list of “bad PTPTN paymasters”, a list of delayed repayments, and many have been blacklisted! Unfortunately for these people, purchasing their first home will remain a dream for a very long time.

Yearly

3,500

42,000

32,00.00

Second House hold member income

2,500

30,000

2,690.00

TOTAL NET HOUSEHOLD INCOME

6,000

72,000

320,000.00

10% Deposit

3,906.00

Stamp & Duty On Title Transfer

5,400.00

Total Cash Out Upon Signing SPA

43,996.00

Figure 4: Calculation Of Cash Out Upon Purchase

Saving Capability Of A Middle Class Household Monthly

RM RM

I’m fully aware that it’s always easy to just talk, but we really need to start somewhere and my views are simply opening discussion points that - if properly carried out - might have a positive outcome in a relatively short time……Just my 5 cents with no intention of hurting or offending anyone.

First household member income

Home Value

Legal Fees And Stamp & Duty On Loan Agreement

Government: Developing affordable homes is becoming more and more difficult for private industry players as the reduced profitability leaves zero margin to mistakes and unforeseen events. Is there any chance to introduce some sort of subsidies to reduce the burden on first time home buyers? Define criterion for affordable home values that will grant and provide maximum values that the criterion will be respected, reduced premium/authority contributions/ utilities contributions and so on will surely spur the supply of more affordable homes in the near future and possibly see the nation being finally housed.

Bank Negara: The wish list for BNM is quite long; hopefully it will be read and taken into immediate consideration. • Allow developers to reinstate the 10% deposit rebate for first time home buyers only as it is still the fastest and most practical way to obtain 100% financing. OR at least allow a 3% deposit. • Another thing that will help first time home buyers is to re-introduce the DIBS, giving them the possibility to avoid the payment of any interest during construction. • For those deemed as “PTPTN bad

Calculation Of Cash Out Upon Purchase

Legal Fee On SPA

paymasters”, why is it not possible to find a contextual solution to the home purchase? An agreed upon minimum and affordable amount per month will be transferred from the financing bank directly to PTPTN till the outstanding study loan is balanced out. There could be a commitment document to be signed upon completing the Loan Agreement for the desired home.

Description

Food and other needs

28%

1,680

20,160

Transportation (motobike /car loan)

16%

960

11,520

Other commitments (loans)

15%

900

10,800

Child care & Education

420

5,040

Family insurance

360

4,320

Utilities (TNB & Syabas)

120

1,440

Savings

12%

720

8,640

Available for home retal / purchase

14%

840

10,080

RM43,996 (Cash- out for home purchase) / RM8,640 (Average yearly savings) Minimum 5 to 6 years to get enough savings

Figure 5: Saving Capability Of A Middle Class Household

Dr Daniele Gambero Dr Daniele Gambero is the CEO and co-founder of strategic marketing consultancy firm REI Group of Companies. With his vast experience in strategic marketing consultancies, investment studies, research, property market reports and business valuation globally, REI Group of Companies has been helping Malaysian developers with business solutions for their residential, commercial and industrial projects since 2007.

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EAST MALAYSIA PROPERTY NEWS

1Sulaman Buyers To File Legal Suit same for the other units too. There were holes for power points on the wall but there was no wiring, added Tom.

uyers of the long stalled 1Sulaman mixed development have renewed their threat to file a legal suit to the developer. According to the spokesperson for Buyers’ Action Committee Tom Lim, they have reasons to suspect that the company has overclaimed bank payments for work on the project that they have not carried out. Tom said that they have officially addressed the issue to the Board of Architects Malaysia and asked the statutory body as the authority in enforcing the Architects Act 1957, to conduct necessary investigation into the project, as reported by The Borneo Post. “According to the bank, the developer has claimed 80 per cent since two years ago. The money has been released but the work for which the payment was supposedly meant for – like wiring, plumbing and all that, were incomplete. It has been two years, these jobs should have all been completed,” he alleged. A similar accusation has also been posted from their Facebook page “1Sulaman” that reads: “Definitely there were overclaims on electrical wiring as all wiring work are not done except for few units”. A site visit has been conducted on 1 September, earlier this month. 90 percent of the wiring job was not completed. Although the inspection was done to the units from 7th to 13th floor, it was obvious that everything was the

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“They said that the cables were all stolen, which we find it hard to believe. One officer also chided that the wiring job could not be done because we were disrupting the work with our site visit.” “The wall tilings and plumbing work in some units were also not completed yet. The road to the buildings too is not done, but all of these have been claimed. We have asked the authority to investigate the matter, if it is proven that there had been overclaims, it is no longer just a matter of a delayed project, it is a CBT (Criminal Breach of Trust), which will be a police case.” Tom stated that they would give the developer until October 1 to show proof of funds and to convince the buyers that the company is committed and able to actually get the project done. According to him, the developer had informed that he needed three months to gather his finance and another nine months to complete the project. Tom also stated that the buyers could not wait much longer as some of them have started to pay the monthly instalments for their housing loans, and many of these buyers are the first time home buyers. 1Sulaman was initially scheduled for completion in 2012, and have been re-scheduled to middle of 2015, but the project which offers 2,058 units of housing and commercial lots over 3 parcels of land is only 87 percent completed at the moment.

A 4-Acre Land In Tamparuli Causes Dilemma To The Local Government

he Sabah Government is now facing a dilemma over a 4-acre site in Tamparuli, which belongs to artist Tina Rimmer who wants the land to be used to build an Arts and Cultural Center as her legacy before she moves on. Tina Rimmer, who was born in Dover, England in 1917 came to Jesselton (now known as Kota Kinabalu) to serve as the first woman education officer appointed by the British colonial government. Since then, she has decided to stay in here for the rest of her life as a painting artist, and became one of the greatest artists in the region. It was learnt that she is not in good health at the moment. The Sabah Government wants the land to be transferred to a Trust so that it can help expedite the building of the Centre. According to Sabah Minister of Tourism, Culture and Environment Datuk Haji Masidi Manjun, the realization of a Trust will help gain the confidence of the people who may be persuaded to donate towards building the Centre. “Otherwise, people would ask to whom they are donating to? “That would become an issue. So, first things first. The Trust must first get the land. Then, we can see what can be done to help realize the vision for a Centre,” he said. Masidi lamented that nothing can be done with the land, lying vacant for over 20 years, until former Sabah Museum Director Patricia Regis comes forward and extends her co-operation to resolve issues, if any, pertaining to the land. “Rimmer placed her Native Title for the land under the care of Regis who was supposed to help her

fulfill her vision. Regis has to come forward and talk to us.” Masidi, researching into the troubled history of the land, gathered that Rimmer expressed her intentions for the land in an Agreement drawn up with Regis at the legal firm of Jayasuriya & Kah in the presence of its lawyer, a Daniel Tan, in the 1990s. “Thereafter the picture gets murky.” “I am aware of the land lying idle for so long and have instructed the Ministry’s Permanent Secretary to help sort out the problem.” Masidi was disclosing that he had since received word that Regis, unable to turn up for all meetings called so far by the Ministry, had since made contact with the Ministry on the issue and may be willing to come forward to bring closure to the matter. “We have been trying the last few years to bring the parties in dispute, if any, together to help sort out the matter. It’s difficult to hold a meeting if certain parties who are required, like Regis for example, don’t turn up.” “The Ministry is not a party to the Agreement.” The Sabah Government’s only interest was that the cultural portfolio falls under its Ministry of Tourism, Culture and Environment, said Masidi. “We want to help facilitate the realization of Rimmer’s vision for her land.” 1.

The mixed development of 1Sulaman is currently 87% completed. The project was initially set for completion in 2012.

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FEATURED PROPERTY PROGRESS| Delta Heights

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EAST MALAYSIA PROPERTY NEWS

Budget 2016 : SHAREDA’s 7 Proposals To The Government Goh, claimed that the economic downturn and weak market has greatly affected to Sabah’s economy as more than 165 trades are now in a limbo.

FIRST TIME HOMEOWNERSHIP BY BANK

•

In line with the National policy, Bank should be compelled to support properties that are sold below RM500,000 for first-time buyers. This would therefore promote ownership to the mass from mid to low income group meeting the vision of having a roof over everyone’s head by 2020.

REAL PROPERTY GAINS TAX (RPGT)

•

To reduce the RPGT rates on disposal or transfer of property prices from RM500,000 and below of three (3) years after acquisition to 0%.

The following are the 7 proposals by SHAREDA to Prime Minister in hope to continue being sustainable and to ride out the current depressed market, and to achieve the country’s vision of 2020 -: 1. 1

abah Housing and Real Estate Developers Association (SHAREDA) has submitted a proposal letter to the Prime Minister Dato’ Sri Najib Razak for his consideration to the upcoming Budget 2016 which will be tabled in Parliament this coming October 23. The letter, which contains 7 proposals, highlights the impact of the overall economic situations in the country towards the people of Sabah especially those who were trying to buy their first home. SHAREDA has also listed down 3 main reasons why Sabah property prices are much higher than those in Peninsular. According to them, more than 80% of the construction equipment, machineries and materials were imported and subject to trans-shipment (cabotage policy) which drives the cost up by at least 10 to 15 per cent The high capital contribution especially by Sabah Electricity Sdn Bhd (SESB) has also contributed to the selling price by 3 to 5 per cent, along with the basic materials for constructions which generally being controlled by few “cartel”, SHAREDA emphasized. The letter, which signed by SHAREDA President Datuk Francis

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•

REDUCE COST OF PROPERTIES TO MATCH PENINSULAR By way of reviewing the transshipment arrangement and hence reducing production and construction cost, or by way of subsidies by government to compensate the difference; To review and standardize capital contribution to utilities throughout the country; and

•

To monitor unfair “cartel” style business practices on supplies of materials.

MORTGAGE LOAN IS NOT A BAD DEBT / BANK IMPOSED TOO STRINGENT RULES

•

To request Bank Negara Malaysia (BNM) to urge all banks not to be too stringent in end financing approval for house buyer especially the first time house buyer. Without end financing approval forthcoming by banks, the property market will be crashed despite the demand is strong verses the low supply. Otherwise, more public housing to be built by the Government to fill the vacuum required.

DEVELOPER INTEREST BEARING SCHEME (DIBS)

•

To reinstate the end financing for DIBS projects for not more than RM500,000 per unit for residential properties to boost the growth of property development nationwide. This will reduce the burden on the needs of purchaser from bearing the interest during construction on top of their on-going rental and protected against delays.

SUBSIDIES TO SERVICE CHARGES

•

For properties of RM500,000 and below, first time buyers are to be entitled to apply for a 2-year subsidy to its service charges. This will effectively provide the purchaser with sufficient breathing space to plan and recoup from their initial commitment and spare fund for moving in.

FOREIGN INVESTMENT

•

Government to promote by way of subsidy or special funds to support major tourism developments, giving consideration to the request of the DUTY FREE status where applicable. Simplify and enhance the 2nd home (Malaysia My Second Home “MM2H”) mechanism and procedure. This will help to propel Sabah’s economy, driving international attention to local properties.

•

To reduce foreigner’s minimum property price cap from RM1 million to RM500,000.

On last September 6, PM Najib has called out to all Malaysians to post suggestions for the next year’s budget to the Government via online at www.najibrazak. com/bajet2016. Budget 2016 is scheduled to be tabled on Oct 23, which Najib said would centre on strengthening growth, expanding inclusiveness and ensuring fiscal sustainability.

SHAREDA President Datuk Francis Goh

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EAST MALAYSIA PROPERTY NEWS

Illegal Negotiators’ Mobile Phones To Be Blocked - BOVAEA

Concerns From Valuers And Estate Agents could increase the fee from 2 per cent to 5 per cent as the logistic expenses in Sabah are quite difficult when it comes to rural areas.

“The public needs to be educated on the risk of using illegal negotiators when buying properties,” said the President of The Board of Valuers,Appraisers,and Estate Agents Malaysia (BOVAEA), Sr. Hj Faizan Bin Abdul Rahman at a dialogue organized by The Royal Institution of Surveyors Malaysia (RISM) and Malaysian Institue of Estate Agents (MIEA) in Grandis Hotel Kota Kinabalu, last Saturday. “There are a lot of high risks when dealing with illegal negotiators and agents instead of properly licensed ones. If they think that it can save them some costs, they are wrong as they will spend the same amount, or maybe even higher, in the risk of getting cheated, illegal purchase and many others,” he said. CH Williams Talhar & Wong Managing Director Sr. Foo Gee Jen who is also the board member of BOVAEA stated that they truly hope the public can practice their rights to prevent such problems to occur when buying properties, and give full cooperation to eliminate these illegal groups. “We need the public to help us, by not giving them any support. If you see any suspicious advertisements which does not display the proper requirements such as company

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“We had a previous discussion with The Malaysian Communications and Multimedia Commission (MCMC) and together we will try to block the reported mobile numbers from functioning if they are operating such illegal services,” he added.

everal issues raised by the representatives from valuation firms and estate agencies received big applauds from the audience, during the half day dialogue event with The Board of Appraisers, Valuers and Estate Agents (BOVAEA) which was organized by The Royal Institution of Surveyors Malaysia (RISM) and Malaysian Institute of Estate Agents (MIEA) in Grandis Hotel, Kota Kinabalu last Saturday.

When asked about whether valuation companies are secretly marking up the price of properties and are supporting these illegal agents, Foo said they are aware that this could be one of the possibilities.

Among the highlighted issues were the difficulties faced by those sitting for exams to obtain the operating license, the lack of successful candidates from Sabah and Sarawak, and the proper fee for the valuation report.

“We take this matter very seriously as this will affect the market price and could bring many other problems in the future. We will monitor all firms closely, and if we find out that there are those who are practicing this, we will take action by revoking their licenses so they can no longer operate in the future.”

“We believe that all examinations were made according to the required standard, and the lack of successful candidates from Sabah and Sarawak should not be an issue since we ourselves did not receive many registrations from both states,” replied IM Global Managing Director and board member of BOVAEA Sr. Hj Ishak Ismail.

logos and registration number, please contact us directly. Send us the mobile phone displayed in the advertisement so we can investigate the case,” he told us.

If you suspect any illegal practice, please inform BOVAEA by writing them an email at info@ lppeh.gov.my or call them at 0322888815/16/17. They will put out an investigation immediately.

“About the valuation fees, it is not the right time for us to make an adjustment since everything is going down right now,” he answered when asked if the board

The dialogue was attended by representatives from various valuation and estate agencies in Sabah. Several amendments to the Malaysian Valuation Standards (MVS) along with the strata management regulations were announced during the event.

Rahim & Co Kota Kinabalu Branch Manager Max Sylver Sintia commented that such dialogue and any similar events should be held regularly here as it brings so much valuable information and public awareness not only to those in the business, but also to those who are interested to extend their career in this field. “This is a really great event since it can create awareness to all of us. Hopefully there will be many of these in the future,” he commented.

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EAST MALAYSIA PROPERTY NEWS

Bintulu Will Become Sarawak’s Industry Hub education especially for the young people in rural areas. “We are going for industrialisation whether we like it or not that is the way forward, if you don’t want to be left behind that is the way forward and suit yourself to those circumstances.

arawak Chief Minister Datuk Patinggi Tan Sri Adenan Satem announced that Bintulu will be a leader in industrialization in this region and will open up more jobs and economic opportunity, particularly in the technical sector, as reported by The Borneo Post. Adenan believed that the Advanced Technology Training Centre (ADTEC) Bintulu and other technical institutions in Sarawak could play more active roles in producing highly skilled workforce and technically competent people with the knowledge and skills for the various industries in the region. The progressive trend of people migrating to this town who were attracted to the various jobs and economic opportunities offered would provide advantage for technical institutions, such as ADTEC to play a more significant role in preparing the locals for the industries, he added. “In Bintulu there will be thousands of job opportunities available that need those technically competent people and Adtec must increase its student intake and cater for future expansion,” he said when officially declaring open ADTEC Bintulu yesterday. Adnan also stated that the more technically competent people the better it would be for the industries. The young people must grab the

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opportunities offered in technical education and they should realised by now the importance of highly skilled and technically competent workforce to cater for the increasing demand of the various heavy industries, especially in Samalaju Industrial Park within the Sarawak Corridor of Renewable Energy (SCORE) which will be offering almost 10,000 job opportunities by 2020.

“Technical education is no more second choice, the people’s attitude should be changed but of course it would take time for people to change their cultural outlook. SPM is no longer a guarantee to get a job, there is a need to have skills over and above only then you will be employable,” he emphasized. In reality, he noted there were fewer unemployed graduates in the technical sector compared to other sectors, which showed how employable those who were highly trained and skilled were. “I think there is something wrong here, to put too much emphasis on academic education,” said Adenan. To address this, he said Sarawak Bumiputera Technical Education Promotion Charitable Trust (Tegas) was formed to promote technical

“Very few people now want to continue as farmers, or fishermen, they want to work in the towns, and cities and be technically skilled.” Presently, he said Sarawak had enough technical schools but it must be prepared to cater for future expansion to produce more skilled manpower. During the event, Adtec signed a Memorandum of Understanding (MoU) with Sakura Ferroalloys Sdn Bhd, MKI Engineering, Maslow Trainers & Consultant, NSK MP (M) Sdn Bhd and University College of Technology Sarawak. Minister of Human Resources (HR) Datuk Seri Richard Riot Jaem, his deputy Datuk Seri Ismail Abdul Muttalib, HR secretary general Datuk Seri Saripuddin Kasim, State Secretary Tan Sri Datuk Amar Mohamad Morshidi Abdul Ghani, Assistant Minister in the Chief Minister’s Office (Promotion of Technical Education) Datu Len Taliff Salleh and other assistant ministers were present. Previous Page 1. Board members of BOVAEA. (Left to right : Sr. Hj Ishak Ismail, Sr. Hj Faizan Bin Abdul Rahman (President ), Sr. Foo Gee Jen 2. Rahim & Co Kota Kinabalu Branch Manager Max Sylver Sintia and his assistant This Page 1. Datuk Patinggi Tan Sri Adenan, Chief Minister of Sarawak

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WEST MALAYSIA PROPERTY NEWS

Sharing news and information about various issues related to the property industry from Peninsular Malaysia.

Damansara Realty & Sumitomo See Strong Opportunities PIPC

n last September 15, Damansara Realty Berhad and The Sumitomo Warehouse Co., Ltd. put pen-to-paper, inking a Memorandum Of Understanding to set up a Joint Venture Company to facilitate the downstream oil and gas services located in Pengarang Integrated Petroleum Complex (PIPC). The JV company will provide logistics expertise, as well as Design, Build and Operate (DBO) warehousing infrastructure support to the myriad of downstream operations within PIPC.

Talking about the MoU and JV company, Tuan Hj. Mohd Fazlin Shah Bin Mohd Salleh, Group Chief Executive Officer, Damansara Realty, said, “While Damansara Realty has a rich heritage in the property services division, we also have a proven track-record

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in the area of facilities management, green technology initiatives and servicing the Oil and Gas sector. Our experience in this project and intimate understanding of the industry and the local business landscape, sees us poised to deliver service excellence to our clients.” Established since 1960, Damansara Realty Berhad has taken up various type of businesses from hospital consultancy, facilities management, parking business and industrial cleaning. The group aims to seek opportunities to invest in other type of businesses, namely in the Oil and Gas sector. Sumitomo’s market leading legacy of 115 years of experience in the warehousing, sea-land-air transportation services and information system management will provide best-in-class logistics expertise.

PM Najib Delivers Measures To Overcome The Rising Cost Of Living

he number of fair price shops such as the 1Malaysia People’s Shop (KR1M), 1Malaysia Textile Shop, 1Malaysia Book Shop as well as the eateries offering the 1Malaysia Menu, will be increased by the Government, says Datuk Seri Najib Tun Razak according to The Star. The Prime Minister said this was among the measures to help households - especially those from the low-income group - to address the rising cost of living, he said when announcing the Government’s proactive economic measures at a news conference here Monday. Najib, who is also Finance Minister, said 25 more KR1M would be set up this year and 12 more next year. Currently, there were 169 such shops in the country. He said the Government was setting up 16 more 1Malaysia Clinics this year, and 33 more in 2016, to add to the 326 existing clinics. “The Government will also introduce measures to increase the income and well-being of households in the bottom 40% income bracket.” Najib also said that the Government would also expedite construction

of affordable homes as Bank Simpanan Nasional, with the cooperation of the Finance Ministry, had introduced a scheme for 20,000 married youths aged between 25 and 40 to purchase their first house.

“These graduates will not only be given on-the-job training, but also training in aspects like communication, language as well as information technology and telecommunications,” he added.

“Under this scheme, an incentive of RM200 per month will be given to successful applicants for two years to cover their monthly instalments,” he emphasized.

Najib also said that the Human Resource Development Fund which now totalled RM1.38bil would be expanded and enhanced for implementation of retraining programmes and to increase the skills of workers laid off by registered employers.

According to Najib, the scheme is for young couples with a monthly income of less than RM10,000 to purchase property worth between RM100,000 and RM500,000, and is offered on a first-come, first-served basis. The Youth Housing Scheme was announced by the Prime Minister when he tabled the Budget 2015 in October last year. Najib said individual borrowers could apply through the Credit Counselling and Debt Management Agency to restructure and reschedule their loans with financial institutions, if necessary.

The Government, he said, was also considering medium-term measures, including addressing the increase in less-skilled foreign workers, which resulted in the flow of RM28bil out of the country in 2014 and slowed down the local wage growth rate.

He also announced several measures to address unemployment, especially among youths, although he said that the situation was still under control. Najib said among measures to be implemented to enhance the marketability of graduates was to increase the number of graduates for the 1Malaysia Training Scheme (SL1M) and the Graduate Employability Management Scheme (GEMS) from more than 10,000 this year to 15,000 in 2016. He said it would be implemented with the aid of Government-linked companies and the private sector as part of their corporate social responsibility at a cost of about RM500mil.

From Top Left: Shuichi Iwazawa Datuk Md Othman Yusof Dato’ Daing A Malek Bin Daing A Rahaman Shinichi Takemoto Hiroaki Sato. From Bottom Left Hj Mohd Fazlin Shah Bin Mohd Salleh (Group CEO for Damansara Realty Berhad Jun Nomoto (Managing Executive Officer from The Sumitomo Warehouse Co.Ltd) Datuk Seri Najib, Prime Minister of Malaysia

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FEATURED PROPERTY EVENT| CityScape Awards

CITYSCAPE AWARDS FOR EMERGING MARKET 2015 “Asian developers Stole The Show”

he prestigious event for all architects – Cityscape Awards for Emerging Market 2015 was recently held in Conrad Hotel, Dubai, United Arab Emirates and saw Asian developers stole the show by winning 8 out of 13 categories, with China based architect Aedas won five awards out of the eight “Sustainability” was the key theme for this year’s awards with many projects achieving high levels of not only environmental responsibility, but also social, economic and cultural aspects. Prior to the award night, Cityscape has shortlisted 37 finalist from all around the world to compete in the final round, such as China, India, Turkey, Russia and Brazil.

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The shortlist for the sustainability project category was extended to four projects, with the eventual winner announced as Ronald Lu & Partners (RLP) and the Leisure and Cultural Services Department HKSARG for the Ko Shan Theatre New Wing in Hong Kong. The judges were reported having difficult time in deciding the winner of the sustainability category because the entries this year were extremely strong and also because many architects and developers are now putting sustainability at the heart of their projects. Out of the 13 winners, we at Property Hunter would like to highlight 3 of the projects that captured our attention.

SUSTAINABILITY PROJECT WINNER – Ko Shan Theatre New Wing, Hong Kong

Developer : Leisure and Cultural Services Department HKSARG Architect : Ronald Lu & Partners Opened on 31 October 2014, the 5-storey Ko Shan Theatre New Wing comprises an 600-seat auditorium, an exhibition gallery, a function room, rehearsal rooms and singing practice rooms. It is also equipped with a green roof, a car park basement, a specialist store for Cantonese and Chinese opera products. The design and layout of Ko Shan Theatre are dedicated for Cantonese opera performances, including spacious leg room between seats inside auditorium to facilitate easy access by the elderly, adequate space for costume trunks at the backstage.

RESIDENTIAL PROJECT (FUTURE) WINNER – The Piers, Muscat, Oman

villas positioned at the end of each pier. These luxurious villas seemingly float in the ocean with direct and exclusive boat access from the water.

Located at The Wave peninsula with views into the marina and out to the sea. The Piers V-shaped form allows for a private beach in between the two buildings, which step down towards the water and culminate with impressive

The development houses a number of amenities: a lobby to be a ceremonial space culminating the arrival experience, a gym with a squash court, a branded spa, an outside and inside pool as well as a kids pool, kids/games room, a media room, a multi-purpose room, the drivers room and a roof terrace.

Developer : The Wave, Muscat Architect : RTKL UK Ltd (Dubai)

Most dressing rooms are on the same floor of the stage, dressing rooms and rehearsal rooms equipped with extra-high doors and great ceiling height etc. The 600-seat auditorium at the New Wing together with the existing 1 031-seat theatre will further enhance the Ko Shan Theatre’s function as a dedicated venue for Cantonese opera with the provision of ancillary facilities for performance, rehearsals and training by established and budding Cantonese opera artists. It will also be open to other arts and community event, creating an alternative platform for a variety of cultural activities for the local community and Hong Kong as a whole.

MIXED USE PROJECT (BUILT) – One Shenzen Bay’s Tower 7

The tower and master plan work together to create a vital urban environment. The master plan is unique in that, rather than standing each tower above a podium, each tower comes down to the ground.

One Shenzhen Bay’s Tower 7 was conceived as the centerpiece and tallest element of the 8-tower One Shenzhen Bay master plan.

Towers are also pushed to the perimeter of the site in order to create a strong urban edge with street-facing retail and building lobbies. The interior of the site is left as open green courtyards and plazas. This arrangement encourages a pedestrian experience both on the street side, and within the site.

Developer : Parkland Real Estate Development Co. Ltd Architect : KPF with AUBE & CCDI

Located on reclaimed land that did not exist in 2005 the tower and master plan anchor the newly created business district of Houhai. The mixed use tower includes office, hotel and residential programs and is supplemented by retail and entertainment programs in the adjacent master plan.

Sustainability components include high reflectivity glass and horizontal fins with integrated natural ventilation to mitigate solar gain while also providing fresh air.

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FEATURED PROPERTY EVENT | KL Traders Square

KL Traders Square, Kuala Lumpur:

A Serviced Apartment That Is Only 10 Minutes from KLCC

“From the overwhelming response at the official launch, it was clear that KL Traders Square met the requirements of purchasers especially from the price point of view. At RM480 onwards per sq ft, it is very affordable, considering that it’s almost impossible to find quality developments within a 10km radius from the city at less than RM550 per sq ft.“

CP Group has organized a special preview of their latest project – KL Traders Square, at their sales gallery in KK Times Square, Kota Kinabalu last weekend. With six fully-sold projects under its belt since 2011, SCP Group plans to repeat the same success with its latest development, the 17-acre KL Traders Square in Jalan Gombak, Kuala Lumpur. A mixed development comprising 97 lots of 3-storey showroom shop offices and five blocks of serviced apartments, KL Traders Square has kicked off on a high note. To date, 95% of the showroom shop offices have been sold. Over a short span of less than three months from the Official Launch of phase 1, comprising block A & B in May this year till the release of its phase 2 (block D) in July, more than 900 units of the 1,590 units have been snapped up. KL Traders Square has a gross development value (GDV) of RM1.645 billion, with the showroom shop offices valued at RM395 million and the serviced apartments at RM1.250 billion. It is SCP Group’s 8th and largest project since the inception of the group’s property development in 2011. SCP director, Calvin Low believes that there is always a market for welldesigned developments that are in strategic locations and SCP Group’s ability to offer such developments is the key to the company’s success.

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Why rent? Invest in a home in KL for your children’s higher education or career Only 8 minutes’ drive to TAR University College and 10 minutes to KLCC, its prime location alone makes it a great investment. In addition, it’s a home you can stay in when visiting your children. Superbly linked to major highways including Duta-Ulu Kelang Expressway (DUKE) and Middle Ring Road 2 (MRR2), KL Traders Square makes travelling to popular destinations such as Genting Highlands, Petaling Jaya and Cheras that much easier. From RM480 psf, Freehold - priced lower than projects within vicinity “From the overwhelming response at the official launch, it was clear that KL Traders Square met the requirements of purchasers especially from the price point of view. At RM480 onwards per sq ft, it is very affordable, considering that it’s almost impossible to find quality developments within a 10km radius from the city at less than RM550 per sq ft.“ Calvin said that another major plus point of the project is that it’s a freehold development which is another rarity for high-rise developments in Kuala Lumpur.

“We have also gone a step further with landscaping the place. There are eight specially designed thematic gardens sprawled over six acres on level 8. A sky park of this size in the city is not easy to find and to top it all, it’s secure and exclusively for residents only,” added Calvin.

rooms while 918 sq ft, 940 sf ft and 1,059 sq ft units feature three plus one rooms. A 10’ ceiling height adds to the units’ attractiveness.

Other features include a wide range of facilities such as six indoor badminton courts, two tennis courts, two large swimming pools and two gymnasiums. Residents will be happy to know there’s a 3-tier security access card system plus extensive CCTV surveillance in the common areas.

SCP’s property division was formed in 2011 and has since completed four projects with a total GDV of RM594 million – Dataran Wangsa @ Wangsa Melawati, Plaza Azalea @ Shah Alam, Damaisari @ Wangsa Melawati and Inanam Capital in Kota Kinabalu.

There are 540 units of serviced apartments in Block A, 630 units in Block B and 420 units in Block D. Built-up of the units are 842 sq ft to 1059 sq ft. Prices start from RM405,000 which works out to RM480 per sq ft onwards.

It has five on-going developments, namely Ashton Tower in Kota Kinabalu, Lido Residency at the junction of Jalan Loke Yew / Cheras, Seasons Garden, KL Traders Square and Cheras Traders Square. In addition, SCP has two projects in the pipeline – Damaisari @ Kolombong and Bukit Damaisari @ Menggata, both in Kota Kinabalu. The total GDV of these 11 projects is more than RM5 billion.

Like its Seasons Garden project in Wangsa Maju, the serviced apartments in KL Traders Square are designed with a functional ‘home concept’ where all the units have sufficient rooms for a family. A 842-sq ft unit comes three

Blocks A, B and D of KL Traders Square are slated for completion in 2019.

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FEATURED PROPERTY EVENT | Agile Property

Agile Property of China Upbeat About Malaysia’s Property Market

gile Property Holdings Limited, one of China’s leading property developer says the timing of its entrance into the Malaysian property market could not have been better. The Hong Kong- listed mega developer finds the local property market still attractive, especially Kuala Lumpur with the recent weakening of the ringgit.

“Kuala Lumpur is already very attractive with its impressive infrastructure. If you are looking from the outside the property market here is now even more attractive with the weakening of the ringgit, “said Agile Real Estate (M) Sdn Bhd chief executive officer Wilson Ren.

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Agile Mont Kiara

Agile Real Estate Development (M) Sdn Bhd COO and CEO, Eric Yeo; Ren; PJ Development Holdings Bhd executive director Ong Ju Xing and Public Bank senior general manager, Chan Chew Fung at the ground breaking ceremony for Agile Mont’Kiara Artist’s impression of Agile Mont Kiara

Agile through its local subsidiary Agile Real Estate is developing Agile Mont Kiara in a 70:30 joint venture with PJ Development Holdings Berhad.

A total of 813 partially furnished units comprise 2+1 bedroom, 3 bedroom, 3+1 bedroom and 2 dual keys units will be offered. Expected completion date is September 2018.

Located at the matured and affluent international township of Mont Kiara, the development is strategically located close to many amenities including Publika, a popular upscale neighbourhood shopping mall.

At the ground breaking ceremony of the project here today, CEO Ren said in his speech the location of Agile’s maiden project at Mont Kiara, will allow the company to showcase Agile’s passion not only for development of quality homes but also a quality living environment.

Agile Mont Kiara which has a gross development value of RM1.4 billion will be built on a freehold residential land area of 10.16 acres. The entire development consists of a total of 11 blocks of condominiums with a mixture of low rise, medium rise and high rise.

In this respect, a key feature of the development is the 6 acres of green and open spaces for residents to cherish and unwind after a hectic day in the city.

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INTERNATIONAL PROPERTY NEWS

Catch up on the latest property and real estate news, views and analysis from across the globe featured

Singapore Is Asia’s Second Worst In Private Home Prices

night Frank released its new report Global House Price Index last Friday (September 4th) showing Singapore having hard times in the last quarter by being the second highest drop in private homes prices among Asian countries, with China being the first, as reported by Straits Times. The report shows that private homes in Singapore fell by 3.2 per cent in the April-June quarter from the same period last year. Prices in China fell by 6 per cent, 2.8 higher than Singapore. Knight Frank Singapore’s director and head of consultancy and research Ms Alice Tan said in a statement that overall prices of private non-landed homes in Singapore could decline by 3 to 4 per cent on a yearly basis by the fourth quarter.

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“Singapore’s continual fall in non-landed private home prices demonstrates persistent weakness of the market, with prospective buyers remaining cautious against the backdrop of existing cooling measures and in anticipation of further price correction,” she said. “Looking ahead towards the end of this year, Singapore’s private home market is expected to face downward pressure both in price and rental performance, with the combination of factors including the rising completed supply of private homes, impending hike in interest rates, macroeconomic uncertainties and continual slowdown in Singapore’s economy.” Knight Frank’s Global House Price Index studied the home prices of 56 residential markets across the globe. Overall, the research reveals that the prices increased only

marginally in the year to June 2015, rising by only 0.1 per cent amid lingering concerns over the euro zone economy and jitters in global stock markets among others. Hong Kong property market, however, continued to defy government cooling measures with prices up 20.7 per cent in the second quarter. “With markets increasingly interconnected throughout the region, economic concerns in China will continue to cause jitters throughout Asia-Pacific,” Nicholas Holt, Knight Frank’s head of research for the Asia-Pacific region, said in the statement. Home prices rose 7 per cent in Australia, making it the third-best performer in the region, while Indonesia recorded a gain of 6 per cent.

Home Prices In Hong Kong May Start Own A Piece Of The Four Seasons To Drop Next Year Chiang Mai’s “The Residences”

inor International has announced that The Residences at Four Seasons Chiang Mai, Thailand is now available. According to the company, The Residences is a collection of exquisite villa condominiums and private villas that are overlooking the tranquil fields of Chiang Mai, while residents get to enjoy the five-star luxury of the neighboring Four Seasons resort.

PMorgan Chase & Co predicted that Hong Kong’s Property might drop next year after reaching a record high, as an economic slowdown in China and Hong Kong starts to weigh on real estate, The Edge Property reported. Cusson Leung, head of Hong Kong research, conglomerates and property for JPMorgan said that the residential prices may start to fall by 5 percent to 10 percent annually starting in 2016. Prices of new homes will rise by 5 percent in 2015, as demand remains strong, while for the existing house will increase by 10 percent.

The shrinking retail market, according to Leung, was driven by luxury brands closing stores, as well as the prospect of rising unemployment in Hong Kong will hurt property sales. Investors around the world have been rattled by concern that China’s growth is slowing that the markets may not be able to withstand an increase in US interest rates.

“Pressure on the economy is the biggest concern here instead of an interest rate hike,” said Leung. Hong Kong’s private-sector economy suffered its sharpest contraction since 2009 in August, sending a warning sign for the economic health of Asia’s financial capital. Hong Kong reported the weakest home sales in 17 months last Wednesday, after a month-long stock rout that began in China hurt market sentiment among homebuyers and investors. It sold onethird fewer units in August than a year earlier, according to data from the government. Centaline Property Agency Ltd., one of Hong Kong’s two largest property brokers, said its volume of contracted sales for existing apartments valued from HK$10 million ($1.3 million) to HK$20 million plunged 50 percent last month as the Hang Seng Index stock benchmark declined. Volumes may shrink a further 20 percent in September from August, Louis Chan, chief executive officer of Centaline’s residential unit said last week.

The private villas of The Residences are in three- to four-storey, Lanna Thai style villas. The villas offer two, three or four bedrooms, depending on the built up size which ranges from 350 to 530 square meters and includes private decks. Meanwhile, the condominiums of The Residences are divided into three types: Garden Terrace Residences are located at ground level and feature a perfectly manicured garden and a personal plunge pool. Each residence has a private entry leading to a spacious open foyer. Reflecting the classic Northern Thai style, the residences feature natural wood and glass throughout, highlighting the surrounding lush gardens and views. Garden Terrace accommodations feature three bedrooms, spacious kitchens, a lovely breakfast nook with a bay window, luxury bathrooms and spectacular outdoor living with terraces and pavilions. Mountain View Residences feature a striking foyer entrance styled after Wat Saengfang of Chiang Mai, originally built in the 17th century. The mountain ambiance is felt throughout the residence with rich, polished wood floors, teak doors, frescoed walls and bay windows that offer views at every turn. The Mountain View residences offer three spacious bedrooms, private

sitting areas, luxury bathrooms and private pavilions for eating and entertaining. The multi-level Penthouse Residences offer an opulent world-above-the-world view of the magnificent landscape. With an alluring blend of contemporary and antique, the meticulously appointed Penthouse features four spacious bedrooms, including a spectacular rooftop master suite with a large private terrace and a terrazzo bath. The Residences at Four Seasons Chiang Mai also include Private Residences with 4 bedrooms each. These sumptuous twolevel villas feature private pools and Jacuzzis with beautifully landscaped grounds and outdoor pavilions along with spacious kitchens, elegant living rooms and spectacular views of the valley. On top of these, the owners of the property will enjoy full access to the adjacent Four Seasons Resort Facilities, including the 20-meter infinity swimming pool, a Jacuzzi, tennis court, a fullservice health club and the Lanna Spa. In addition, owners can take advantage of the exclusive experiences offered at the resort, including the Thai Cooking School. In this extraordinary and authentic experience, master chefs teach guests the art of Thai cuisine. Ownership benefits at the Residences at Four Seasons Chiang Mai include the opportunity to participate in the rental program. Owners who join the rental pool will enjoy 60 percent of the net revenue. For information about ownership, interested buyers may send an email enquiry to propertysales@ minor.com

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INTERNATIONAL PROPERTY NEWS

Foreign Property Buyers Hooked By “Cheap” Perth Apartment Units Perth going to overseas buyers last quarter. Meanwhile prominent land developer Nigel Satterley, whose company has multiple Chinese backers, said apartment developers were trying to “flog” their product to overseas buyers because of lack of local interest. “We know Asia very well and they simply have no interest. They want Melbourne and to a lesser extent Sydney,” Mr Satterley said. 1

oreign investors are snapping at least two out of five apartments at new Perth complexes, with Asian buyers honing in on “cheap” Western Australia property, as reported by Perth Now. According to Finbar managing director Ronald Chan, overseas buyers were snapping up as much as 40 per cent of stock in city complexes – with the Concerto complex (set to be East Perth’s tallest building) the most popular choice. Mr Chan, whose company holds the market share of Perth apartment developments, said foreign buyers were being driven to Perth for its affordability. More developers are looking overseas to move stock and now hiring specific “international associates” to travel to Asia and promoting Perth homes. Vince Tong was recently hired by billion dollar construction group Builton as an international sales agent. He said while many Asian investors had never travelled to Perth, they were comfortable “buying blind” after viewing presentations.

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“They might never visit Perth, but as free-trade agreements continue and Chinese people start to see more WA products in their supermarkets, they feel a familiarity,” said Mr. Tong. He said recent Foreign Investment Review Board changes, which introduced a minimum $5000 fee on investors, had little effect on “smart, wealthy businessman” who considered Perth property “cheap”. FIRB figures show overseas buyers applied to purchase $1.32 billion worth of WA residential property last year.

Blackburne Property director Paul Blackburne reported foreign investment of up to 25 per cent in some complexes while Pindan residential director Jo Chin said she had seen overseas investors account for up to 30 per cent of buyers, with investors from Singapore, Malaysia and Hong Kong the main players. Latest NAB estimates show the FIRB crackdown has not stopped the foreign investor spend, with 12.9 per cent of new apartment sales in

“The apartment developers are doing what Shane Warne would call a ‘spin’ ... (Overseas) buyers are very savvy and know what the situation is with the massive apartment oversupply.”

Ms Yang, who has come to Western Australia with her husband, her two sons and her mother, said she liked the Perth lifestyle and the education opportunities for her children. Porter Matthews agent Greg Orbinski, who is selling Ms Yang her home, said he had seen an increase in foreign investors in the Belmont area over the past year. “They like it for its proximity to the city, but also the space and value for money they get, compared to some Asian countries like Singapore,” he said.

Future For The Next Generation “From my point of view, there is no future in Singapore – the space is so small and there is limitation of resources,” says Shuo Yang, a Singaporean investor who claimed that she has no future in her homeland. Unlike faceless foreign investors (who will never see their property), Ms Yang and her husband, Xinyu Zhang have relocated to Perth and bought the Yip Kee Noodle Restaurant in Maylands. Currently waiting for approval from the Foreign Investment Review Board on an $800,000 home she is purchasing in Belmont, Ms Yang said Perth prices “were incredibly cheap” compared to Singapore, where she and her children lived in a “tiny condo”. “Here, the prices are much cheaper, the house is half the price what it would be in Singapore where everyone has to live in an apartment. There’s a garden and space for the kids to play.”

Previous Page 1. Hong Kong City This Spread 1. Perth, Westren Australia 2. Sim Darby’s Logo

$101 Million Perth ATO Building To Be Purchased By Warrington And Goldman Sachs

arrington Property, syndicator from Perth has acquired the Australian Taxation Office building in Northbridge on Perth’s city fringe for AU $101 million on an initial yield of 12.1 per cent, in partnership with investment bank Goldman Sachs, as reported by Australian Financial Review. This is the biggest acquisition to date for Warrington, which was founded by valuer and commercial real estate agent Chris Weaver in 2008. The deal takes the value of the Warrington portfolio to $445 million, comprising 11 industrial properties and four office towers in Sydney, Melbourne and Perth. Launched in June, Goldman Sachs have come on board as an equity investor in the Northbridge building, which will sit within a new high-net-worth fund, the Warrington Property Value Add Trust I. The six-level, 22,013-square-metre building at 45 Francis Street, leased to the ATO for a further nine years, was offloaded by Deka Immobilien, the real estate investment arm of the German Savings Banks Finance Group, one of the world’s biggest banking groups. Deka acquired the building in 2009 from the then listed Macquarie Office Trust for $95 million on about a 9 per cent yield. It sat within a close-ended fund, which is now being wound-up. While a refurbishment programme is completed over the next 18 months, the ATO will continue to pay full rent. Once completed, 2 ½ floors will be available for lease, offering the largest floor plates in the Perth market.

Less Interest Towards Sime Darby’s UK Properties By Malaysians as a haven for foreign property investors is starting to taper off since London is now considered a risky investment.

New Lease to Drive Returns According to Mr. Weaver, the value added to the building refurbishment and new leasing (not the market) would drive returns for investors. “We are acutely aware of the recent downturn in the Perth office market – however, with a welldocumented refurbishment plan as a condition of the ATO lease, and over nine years remaining of high-yielding Commonwealth government income, this investment represents perfect counter-cyclical buying with significant downside protection,” he said. The sale of the ATO building was negotiated by Mark Hansen, Rick Butler and Andrew Woodley Page of CBRE on behalf of Deka. “It’s a pretty good result. We had about half dozen bidders. Our client was very happy,” Mr Butler said. It’s the third acquisition for the Warrington Property Value Add Trust I, which had an initial target equity raising of $50 million with capacity to raise a further $65 million. Warrington raises money from high-net-worth investors, small institutions and wealthy families. The new trust also holds the Melbourne International Airfreight Centre at Tullamarine, purchased from the DEXUS Wholesale Property Fund for $23.85 million, and 70 Lower Gibbes Street, an industrial property in Chatswood, Sydney bought for $10 million from Abacus. It is expected to hold assets capped at about $150 million in value.

“Conditions in financial markets and such low interest rates have converted property and especially top-end housing into an investment asset – yields are so low on such a wide range of assets,” says Cheshire. 2

ue to the rise in value of the British pound compared to the falling ringgit, Malaysian buyers have displayed a softening interest for Sime Darby Bhd’s properties in London, UK, according to Property Guru, Malaysia. For the past few months, the ringgit has sharply fallen against other currencies due to various political instability, crashing commodity prices and monetary policy decisions in China and the United States of America. According to the UK daily, The Independent reported that the value of Sime Darby’s luxury homes within its Battersea development fell 10 percent as London’s home property sector remained volatile.

The Independent also cited Knight Frank as saying that acquisitions of prime London properties by Singaporeans, Russians and Chinese fell during the first six months of 2015 compared to the same period last year. It appears that the drop comes after global non-governmental organization - Transparency International revealed that more than 36,000 London properties were owned by offshore firms in areas that protect their identity. Due to this, British Prime Minister David Cameron pledged to have stricter Land Registry listing of foreign firms in a bid to obtain better transparency, noting that “dirty money” has no place in the country.

“We are witnessing softening of interest among buyers from Malaysia and Southeast Asian regions, probably due to the prevailing volatile currencies and uncertainty in economic outlook,” says Sime Darby. However, the conglomerate has not encountered any contract cancellations to date. Pau Cheshire, Emeritus Professor of Economic Geography at the London School of Economics stated that the image of English

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BANKING AND INVESTMENT NEWS

$₤ € BANKING & $ INVESTMENT

NEWS

The banking and investment industry has a crucial role to play when it comes to property. Read about the most recent news and trends in this trade

House Price Might Increase Due To Higher Costs And Weaker Ringgit

Malaysia’s Housing Market Is Severely Unaffordable

alaysia’s housing market is viewed as “severely unaffordable” with a median house price is 4.4 times median annual household income, Khazanah Research Institute (KRI) said. An “affordable market” is one where the median house price is three times median annual household income.

ouse prices are expected to increase on higher building and material costs due to a weaker ringgit. Property developer LBS Bina Group Bhd managing director Tan Sri Lim Hock San said the impact of the ringgit depreciation local currency on the property prices was inevitable, as reported by New Straits Times. “Building materials are more expensive and construction costs are going up as well as the ringgit weakens and even the workers are asking for higher salaries because they get lesser value for every ringgit.

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“To sustain themselves, housing developers may need to increase the prices to curb the higher building costs,” said Lim after LBS’ extraordinary general meeting here yesterday.

“It is generally perceived that high housing prices are a direct result of high land and construction costs but this is not the case,” KRI managing director Datuk Charon Mokhzani told the Star Online.

“As a developer, we also urge the government to abolish cooling measures for the sector such as the real property gains tax (RPGT), foreign home ownership and tight lending rules,” said Lim.

“It is because developers are willing to pay for increased land prices as the market price for housing increases that ultimately causes housing prices to increase,” he added.

He added that the reduction of house prices for foreign buyers from RM1 million to RM500,000 can help stabilize the ringgit.

He was speaking at a press conference at the launch of its latest publication, “Making Housing Affordable” report. He also stated that as Malaysian construction costs had been falling

with no consequent drop in house prices, even constructions costs were not the problem. According to Charon, in Malaysia, policy initiatives relating to housing affordability had been through transferring physical or financial resources to low-income households, however, middle-income households, were neither eligible for social housing nor able to afford private sectorsupplied houses. “Policy should therefore be geared to improving the elasticity of housing supply, to make it more responsive to the needs of all sections of the population.” “The provision of social housing for the majority of population will exert financial pressures on government spending. As Malaysia becomes more urbanized, the demand for affordable housing will increase. If the trend is not addressed, the bottom 40% and middle 40% of income earners will likely require social housing in the future,” he said, adding that KRI was in talks with the government to address these issues.

Knight Frank Launches Global House Price Index Q2 2015 4.

night Frank, the independent global property consultancy, today launches the Q2 2015 Global House Price Index which tracks the house prices of 56 mainstream residential markets across the globe. According to the report, the price index shows that global house prices shifted marginally in the year to June 2015 rising by only 0.1%. Lingering concerns over the Eurozone economy, jitters in global stock markets and discussions of when, not if, a US rate rise occurs is impinging on growth. The highlights of the report are as follows :1.

The Knight Frank Global House Price Index increased marginally by 0.1% in the year to June 2015.

The Hong Kong market continues to defy its policymakers’ cooling measures with mainstream prices up 20.7% year-on-year

In Dubai, weaker demand, a strong US dollar and ongoing cooling measures led to a decline of 12.2% year-on-year

Although China saw prices fall 5.7% year-on-year, it recorded positive quarterly growth of 0.2%.

Volatility Financing To Be Introduced For Low-Income Group – Malaysian Government However, the public should note that the government also provides affordable homes via the 1Malaysia People’s Housing Corp, Ministry of Housing and Local Government, and Syarikat Perumahan Negara Bhd.

Europe is no longer the weakest performing world region, a title it has held for 15 consecutive quarters.

International Residential Research at Knight Frank Ms Kate EverettAllen stated that as China supplants Greece as the world’s key economic concern, and emerging markets look increasingly anaemic, there is a global quest for growth which is evident at a macroeconomic level but also when analysing house price performance. Meanwhile, with markets increasingly interconnected throughout the region, economic concerns in China will continue to cause jitters throughout Asia Pacific, according to Mr Nicholas Holt, Head of Research for Asia Pacific.

“The resulting impact on housing markets is not necessarily straightforward. On the one hand, economic growth is a key indicator for future house price performance; while on the other, property in times of economic turbulence has been seen as a safe haven and a postponement of an interest rate rise hike in the US will continue to provide many markets with a low cost of debt.” he added.

he government is planning to introduce volatility financing to help the lowincome group acquire their own homes, said Minister in the Prime Minister Department Senator Datuk Seri Abdul Wahid Omar as reported by Property Guru Malaysia. According to Abdul Wahid, the matter should be studied further prior to its implementation while the government had already discussed the approach at the recent Economic Council.

“We have several approaches. Last week, we were also informed by Prime Minister Datuk Seri Najib Tun Razak at the National Housing Council meeting to monitor the situation,” he said. Abdul Wahid was met during the 27th National Public Sector Accountants Conference on 25 August. Attended by 455 public accountants, the twoday conference was organised by the Malaysian Public Sector Accountants Association, with support from the AccountantGeneral’s Department.

“Actually, volatility financing access existed in the banking sector. We just have to make sure the amount of loan they can take from the banking institution is low so that they can afford to repay,” he added. Commenting on a Khazanah Research Institute (KRI) survey, which showed that the market for unaffordable homes in Malaysia is three times higher compared to international standards, Abdul Wahid said the government is aware that most of the homes built by the private sector were aimed at the higher-income group.

1. 2. 3.

House price in Malaysia might increase due to the weakening Ringgit Knight Frank Residential Research Datuk Seri Abdul Wahid Omar

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COFFEE TALK | Charles Tan

Property Prices Down 10 Percent, Approval In 12 Months

ome Kota Kinabalu centric news. Sabah Housing and Real Estate Developers Association (SHAREDA) has submitted a memorandum to Local Government and Housing Minister Datuk Hajiji Noor with a proposal which will see approval time for development plans to be reduced from current 30 months down to 12 months. According to its president Datuk Francis Goh, it also hopes to reduce the capital contribution charges to Sabah Electricity Sdn Bhd. If these can be done, the total cost for the developers would be reduced and thus it is

possible that property prices can then be reduced between 5 and 10 percent. This is a good number because the property prices in Kota Kinabalu are no longer considered low. Only one small issue, this memorandum was to have been submitted together with expert bodies such as the Malaysian Architect Association (PAM), Sabah chapter of the Institution of Engineers Malaysia (IEM), Consulting Engineers Association (ACEM) and the Sabah Law Association. All these expert bodies have shown support for the plan but

claimed that SHAREDA has submitted the memorandum by itself. Goh admitted this has happened but said that he would leave the final decision to the expert bodies. This is because the proposal has been long delayed as the draft proposal has been sent to all parties. He said he would like to hold a meeting on this soon. Personally, I believe the inclusion of all relevant parties would have been the best. However, having been in the corporate world, I also understand that sometimes waiting may not be the best option. Every organisation

would have their own timelines, requirements and it is not possible to force them to follow a certain deadline. It is not the fault of any party but it is also vital for the proposal to proceed. I think in this case, SHAREDA is proceeding but are still hoping that the expert bodies would join in as one of the stakeholders. My wife is from Sandakan and I own a high-rise unit in Kota Kinabalu. I will be watching this and update the progress which hopefully is a positive one. Happy discussing.

Ringgit Down, Thus Property Prices Up

eported in an English daily quoting someone in the property industry. Ringgit is down, therefore the property prices will go up? Reason given is because the materials are becoming more expensive and workers are asking for even higher pay. Assuming that I agree with this assessment, it is best for anyone who says so to give a detailed breakdown of the actual increase due to Ringgit’s depreciation. After all, transparency should be a virtue for both the public and private sectors. Only by having this that both sides can continue to provide honest feedback as well as check and

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balance versus simply giving hollow statements. Am I right? A few suggestions were given to help property developers cope with the increase as well as to ensure the vibrancy of the property market. They include abolishing the cooling measures implemented, such as the Real Properties Gains Tax (RPGT), foreign-owned ownership minimum price levels and the tight lending rules. It is believed that when more foreigners can buy properties here, it would help stabilise the ringgit. This

is because the demand for ringgit would go up. Besides that, without RPGT, demand would increase for sure as many are reluctant to be tied for 5 years. As for tight lending rules - I disagree. There are plenty of choices and one should also consider cheaper secondary properties too. Ringgit down has sparked a downtrend of the share market. To a lesser extent, it has also dampened sentiment in the property market. It has, however, not done much to the actual property prices, at least not even till Q1 2015. Whether property prices would trend upwards or

downwards, would depend on the demand. Meanwhile, the demand would also depend on locations. Secondary locations would remain second choice. A prominent speaker told me recently about the issue of landed properties being less than RM400,000, but that banks are only willing to end at a maximum of 80%.I think that’s a clear sign that prices are not on the way up, unless of course everyone is just blindedto buy from (the few) popular hotspots. I am, however, not a developer. Maybe they know things I don’t. We shall see.

Condos – More Facilities Does Not Necessarily Mean It Is Better

any years ago, when I asked a regional manager in a public listed company why she bought an apartment instead of a condo. “A condo has more facilities you know,” I reminded her. She pointed out that she has no time to use the facilities at all, as she is taking care of her mother and thus, it would be a total waste of money just to pay for maintenance. Evidently, it is a fair point; but since I use the facilities on and off, I would definitely prefer a condo to an apartment. About two years ago, I got to know a sales manager of a property developer and she shared with me something which I have since learnt to be true. She told me that the more facilities a condo has, the higher the maintenance fee is needed. In fact, as soon as these start to break down, the cost to replace is likely to be huge. All these are not easily controllable either.

Looking back at my condos, my sister’s condo, my Toastmaster’s friend’s condo, those condos that I have viewed before and also my current condo, I realised that those with more than the usual facilities, tend to have more issues. For example, if there is a squash court and the roof leaks, it is unlikely for the management to replace the flooring because it is very expensive. Sometimes, they do not respond to the problem fast enough, making it worse. Tennis courts after a few years would mean puddles of water here and there and some wear and tear may mean more potential injuries. And what about swimming pools? When not maintained properly, may have algae and other gunk that keeps you away from using it. So what happens when a newly launched condo announces that it has many more facilities than the others?

I think it may be a good idea to check out the developer’s background. Often times, the reason why facilities break down faster is simply because a developer is using inferior products in the first place. Do check out all the facilities. Swimming pool and gym would be cheaper and easier to maintain compared to a sauna or a jacuzzi. A basketball court - cheaper to replace the hoop, or a tennis court - lesser wear and tear, is certainly easier to maintain than a badminton or a squash court (both entail high flooring costs). If the badminton court’s flooring is cemented, get ready for lots of injuries. What about a bowling alley? WOW. What about a cinema? AWESOME. What if the condo has EVERY SINGLE of the above? By all means, buy, but please be prepared that sooner or later, some of these facilities would no longer be available. Hopefully of course, these do not apply to those luxury condos.

Luckily, the maintenance of one of my condos in Penang as well as my current condo in DamansaraDamai, have been good so far. Both are in their 10th year. However, perhaps this is because it is fully occupied and maintenance fees are all paid on time. Plus, the JMCs are working instead of sleeping. Unfortunately, I cannot say the same for all. A friend’s condo in Penang has leaks, faded wall paint, missing lift buttons, etc. while many other facilities have shown tremendous wear and tear, despite being completed just over 2 years ago. Many times, luck plays a part but most of the time, when things are too good to be true, they normally are. I would look at advertisements with ‘most number of facilities’ carefully. Perhaps, just look at which offers the most number of facilities that appeals to you. Happy selecting.

Property Exhibitions Minus The Banks?

very time there’s a property exhibition - be it big or small - there are bound to be many financial institutions. This is because when we are interested with any property in the show, the banks would want to be the first in our consideration. A latest statement from the Real Estate and Housing Developers’ Association (REHDA) has showed otherwise. According to REHDA’s committee chairman Datuk Ng Seing Liong, the number of banks participating in the property expo (MAPEX) has become ‘too small.’ This is not good because banks are supposed to help first-time home buyers get a home in the current tough environment. Actually, I think the number of banks in these property shows are reducing because they do not wish to lend. I think they are also not

keen in participating because many of these visitors may not be showing much interest like a few years ago. For repeat buyers, they would already have their own favourite banks and may not be looking to have 3 different banks for three of their different properties and the 4th bank for their 4th property. Seriously, there’s little advantage to do so. Banks are also not there because most of the time, they would have tied up with specific developers and would station their officers within the developers’ booth instead. I think this is better for them too as the approval for the buyers of these projects would go smoother and easier. Oh yeah, I still think it’s good to visit property fairs, but I think these days, if any developers are there to showcase the SAME project which has been in the market for over

18 months - all the best to you. With online exposure, everyone would have already known when your project was first launched and what the price was offered then and the price offered now. Please, do not sell too high and then start giving ever more rebates later. Study the market well, decide on a lower margin and quickly sell them by using as many different media channels as possible. There are still many first-time buyers - but there aren’t that many ignorant first-time buyers who still believe the high prices of yesterday either. Perhaps there are also many who could not get that loan because banks are wary and have taken a more prudent stance today. Happy visiting, and if you should need to know more about mortgages, online is a very good friend to start. However, nothing beats having someone to explain it in person.

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APARTMENT FOR SALE

Abbreviation LA: Land Area BUA: Build Up Area *Listing are accurate at the time of print. Kindly contact the respective agents for updates. For more real estate listings, please visit www.propertyhunter.com.my

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PROPERTY LISTING |SABAH

APARTMENT FOR SALE

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PROPERTY LISTING |SABAH

APARTMENT FOR SALE

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PRISM

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APARTMENT FOR SALE

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CONDOMINIUM FOR SALE

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PROPERTY LISTING |SABAH

CONDOMINIUM FOR SALE

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PROPERTY LISTING |SABAH

CONDOMINIUM FOR SALE

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CONDOMINIUM FOR SALE

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PROPERTY LISTING |SABAH

CONDOMINIUM FOR SALE

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CONDOMINIUM FOR SALE

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PROPERTY LISTING |SABAH

BUNGALOW / VILLA FOR SALE

100

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OFFICE SPACE FOR SALE

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SOHO / SOVO FOR SALE

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101

PROPERTY LISTING |SABAH

TERRACE / LINK HOUSE FOR SALE

102

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TERRACE / LINK HOUSE FOR SALE

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103

PROPERTY LISTING |SABAH

TERRACE / LINK HOUSE FOR SALE

104

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105

PROPERTY LISTING |SABAH

SEMI - DETACHED HOUSE FOR SALE

106

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SEMI - DETACHED HOUSE FOR SALE

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107

PROPERTY LISTING |SABAH

SEMI - DETACHED HOUSE FOR SALE

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INDUSTRIAL FOR SALE

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108

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AGRICULTURAL LAND FOR SALE

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109

PROPERTY LISTING |SABAH

RESIDENTIAL LAND FOR SALE

110

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111

PROPERTY LISTING |SABAH

APARTMENT FOR RENT

112

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Sarawak

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113

PROPERTY LISTING |SABAH

BUNGALOW / VILLA FOR RENT

114

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CONDOMINIUM FOR RENT

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115

PROPERTY LISTING |SABAH

CONDOMINIUM FOR RENT

116

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CONDOMINIUM FOR RENT

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117

PROPERTY LISTING |SABAH

COMMERCIAL FOR RENT

118

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OFFICE SPACE FOR RENT

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119

PROPERTY LISTING |SABAH

SEMI - DETACHED HOUSE FOR RENT

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INDUSTRIAL FOR RENT

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SOHO /SOVO FOR RENT

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120

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121

122

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123

124