06
DEC
2017 WEDNESDAY
OUTLOOK ON PROPERTY SECTOR FOR
2018
Key events of 2017 that impacted property sector >P06-07, P12-13
A DECADE OF EXCELLENCE INSIDE THIS ISSUE www.starproperty.my
MALAYSIAN LANDSCAPE ARCHITECTURE AWARDS RECOGNISE OUTSTANDING CONTRIBUTIONS > P03 StarProperty.my
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GREAT CHOICES FOR THE MASSES
STARPROPERTY.MY FAIR 2017 ENDS THE YEAR WITH A BANG > P16, P18 StarProperty.my (Eng)
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COLOURING YOUR NEW YEAR!
FOUR COLOUR PALETTES THAT WILL MAKE A STATEMENT IN 2018 > P20
events
STARPROPERTY.MY WEDNESDAY 06 DECEMBER 2017
02 highlights
STRONG CASH FLOW IS KING
W
www.starproperty.my StarProperty.my StarProperty StarPropertyTV
EDITORIAL
editor@starproperty.my
Assistant General Manager ERNEST TOWLE ernest@thestar.com.my
Content Coordinator LEE YAN LI lylee@thestar.com.my
Content Writers LEE YAN LI VIKNESH ASHLEY HAKIM HASSAN NG PAU LING AISYAH SUWARDI THARMINI KENAS HIDAYAH SARUDIN VIKTOR CHONG Video Producer JONATHAN ROBERTS Video Editor PAMELA FONG PEI LE Designers KWONG CHEE OON QUEENY YONG NURUL AIDA TAJUDIN
businesses even began to take advantage of the new "normal" prices. By Can such a business survive? Will it thrive? ERNEST TOWLE Similarly, will property prices remain or collapse? Clearly, it all depends on market sentiment. So where compelling. does it leave those who want to buy property? Will 2018 be a good or bad year for the property The most prudent strategy for any buyer or investor will be market and its buyers and sellers? determined by their cash flow. With strong cash flow, one can Just like any industry, the property market is no different sustain the mortgage/loan repayment for any property in any in that it is governed by the simple mechanics of demand and location at any price to overcome pricing-and-demand hiccups in supply. the market. Take the Musang King as an example. Over the last couple Where supply cannot wait for demand, fire sales occur as of months, durian aficionados were shocked to learn that 1kg of those who commit have to unwind to survive or cut losses. their favourite fruit was selling for up to RM100. To most people, When the tide rises, ships in the harbour will rise although this price is way too high and beyond their reach. some may not be seaworthy. Only the seaworthy ships can sail Many durian lovers grumbled that overseas demand led to away and reach their destinations. the price hike, making the fruit a luxury item. Durian plantation ITH 2017 almost over and 2018 within earshot, the voices for both a weak and strong property market next year are equally loud and factually
STARPROPERTY.MY EVENT HIGHLIGHTS And the Samsung Galaxy Tab goes to… StarProperty.my Buyers’ Sentiment Survey has announced the winner of round two who will take home a Samsung Galaxy Tab A 16GB with S Pen LTE worth RM1,399. Want to know if you are the lucky winner or join the survey for a chance to win more prizes? Log on to bit. ly/spsurveywin to learn more.
Property Shot
Reel Estate
Property Shot is back with a bang, featuring three beautiful developments.
The Reel continues with four new episodes. Be sure to catch them at bit.ly/starpropertytv
Ep07: Veonna@Bandar Sri Sendayan by Matrix Concepts Ep08: City of Elmina by Sime Darby Property Ep09: AERA Residence by Chin Hin Property Development
Ep05: Landslide mishap: Negligence or accident? Ep06: Confidence-driven, growthoriented and people-friendly budget Ep07: Special coverage – Penang floods Ep08: Café chatter with Kevin Tan, Sunway Malls COO
And that's not all. Catch a glimpse of the FREE unit you could win at PJ Midtown at bit.ly/spwahpj
LATEST HAPPENINGS SkyWorld unveiled SkyAwani 3 Residences@Setapak and opened its Block A for unit selection. The event saw more than 1,000 visitors and 606 units were taken up within three hours, translating to a 90% take-up from a total of 673 units.
MARKETING & SALES Head of Customer Engagement & Support IVY LEONG 03 7967 1347 ivyleong@thestar.com.my
Property Business Head of Sales JAMES OOI jamesooi@thestar.com.my
Acting Head, Sales (Agent Business) KENT THEW
03 7967 1388 (ext 1861) kentthew@thestar.com.my
the management, sales and marketing process while providing access to the global investors.
Lot 15 in Subang Jaya gets strong take-up rate
Lot 15, Sime Darby Property’s latest development in Subang Jaya, has achieved a high 64% take-up rate within two days of its official launch. The newest residential property nestled in the self-contained and affluent urban area of Subang Jaya City Centre (SJCC) has seen a total of 130 out of the 204 units offered quickly taken up by purchasers over the weekend.
Download E-mag at: STARPROPERTY.MY(English) PROPERTY TRENDS (Chinese)
Tropicana gives buyers chance of a free upsize M Vertica’s Tower A attracts 85% take-up rate
Tower A of Mah Sing Group Bhd’s residential development M Vertica recorded a strong take-up rate of 85% for its 808 units over its two-day weekend preview. Mah Sing said the event on Nov 25 and 26 attracted thousands of visitors on both days with registrants queuing up for unit selection at the Batu 2.5 Cheras project early in the morning.
IQI announces acquisition of stake in Getmore Global SkyAwani 3 records 90% take-up in three hours
SkyWorld Development Group’s affordable home series, SkyAwani 1 & SkyAwani 2, have recorded a full take-up.
IQI announced its acquisition of a substantial stake in GetMore Global, a renowned PropTech company headquartered in the Philippines. The new venture will expand revolutionary solutions across the lifecycle of new property developments, streamlining
Tropicana Corporation Bhd launched a new campaign, Tropicana Surprize Upsize, to offer buyers an opportunity to win a free upsize for a house purchased across six properties located in Tropicana’s signature townships and developments in Klang Valley. Properties include high-rise apartments, serviced residences, and landed homes in Tropicana Gardens (Kota Damansara), Tropicana Heights (Kajang), Tropicana Aman (Kota Kemuning), and Tropicana Metropark (Subang Jaya). The campaign will run from Nov 11 to Dec 22 at www.tropicanasurprizeupsize.com
news
STARPROPERTY.MY WEDNESDAY 06 DECEMBER 2017
MLAA03
By NG PAU LING pauline@thestar.com.my
A DECADE OF EXCELLENCE
Malaysian Landscape Architecture Awards recognise outstanding contributions
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RBAN sprawl and high-rise living have given landscape architecture more relevance today as people look out for greenery in the concrete jungle. The rooftop garden, vertical garden, community park and green spaces have become increasingly important to those seeking a sustainable and quality living. But landscape architecture is more than just planting of greenery for beautification and decoration purposes – it has to address the aspects of functionality, identity and community engagement. This is the challenge for the Institute of Landscape Architects Malaysia (ILAM), which was founded in 1981 to advance the landscape industry and contribute to a greener nation.
A milestone for MLAA
This year, ILAM celebrates the 10th anniversary of its Malaysia Landscape Architecture Awards (MLAA). The awards recognise the contributions of outstanding landscape architecture consultancy firms, developers, researchers, students, contractors, suppliers, government agencies, the media and individuals at home and abroad. Two new categories have been introduced, namely International Entry for the Professional Category and Landscape Supplier or Manufacturer Category. “Previously MLAA focused on local projects. This year the awards go international to raise the overall quality,” ILAM president Dr Osman Mohd Tahir said in a recent interview. The new category for suppliers and manufacturers will showcase and promote green landscape products. “After 10 years of MLAA, we noticed a significant improvement in the local landscape architecture industry with new trends and quality ideas coming in every year,” said Dr Osman. Modern landscape emphasises the user experience and places functionality at the centre of any design activity. “The new trend of landscape architecture is about reflecting the character and identity of the location. It bestows a sense of belonging, thus creating an inviting environment where people can enjoy – an active play area for all ages,” Dr Osman explained.
Green connector in the city
Apart from physical infrastructure such as the public transport system that connects one place to another, Dr Osman reckons that landscape is the "green connector" which helps to
The new trend of landscape architecture is about reflecting the character and identity of the location.
“Preserving, reserving and understanding the function and spirit of natural resources such as water runoffs, rivers, wetlands and topography is another focal point in landscape. – Dr Osman Mohd Tahir
improve access to outdoor parks and open spaces. "The implementation of welldesigned cycling and jogging tracks, street trees and other landscape features will help to create a safer and pleasant outdoor experience. "This will eventually shape a more healthy, sustainable and livable city for the well-being of its occupants." Dr Osman also mentioned that landscape needs to provide solutions for city-related problems such as reducing erosion, pollution and urban heat island (UHI). “Preserving, reserving and understanding the function and spirit of natural resources such as water runoffs, rivers, wetlands and topography is another focal point in the landscape.
“Weather-related natural disasters have increased in recent years. Designing with nature in mind and respecting the organic form will go a long way in tackling the problem of natural disasters,” said Dr Osman. Moving forward, ILAM hopes to see more integration between natural elements, innovation and technology. The institute also wants the landscape design to take into consideration the economic feasibility and effective execution of the development.
Honours for industry's best
MLAA 2017 is organised by ILAM and endorsed by the International Federation of Landscape Architects (IFLA). The awards are open to all project submissions which have not won any previous MLAA Awards. The closing date for submissions is Jan 16, 2018. Award recipients will be honoured at the MLAA Awards Gala Night to be held on April 21, 2018, in conjunction with the World Landscape Architecture Month celebrations. Following the awards ceremony, winners will be featured in ILAM’s Bulletin Landskap, the Landscape Architecture Malaysia Yearbook and a special edition in the local press. Visit www. ilamalaysia.org to know more about ILAM and MLAA.
MLAA 2017
Awards Categories PROFESSIONAL CATEGORY Malaysian Entry
• Landscape Design Awards • Landscape Analysis and Study Awards • Young Landscape Architect Awards
International Entry (NEW) • Landscape Design Awards • Landscape Analysis and Study Awards
LANDSCAPE CONTRACTOR CATEGORY • Landscape Construction Awards
LANDSCAPE SUPPLIER OR MANUFACTURER CATEGORY (NEW) • Landscape Green Product Awards
DEVELOPER & GLC CATEGORY
• Landscape Development Awards • Landscape Master Plan Awards
GOVERNMENT CATEGORY • Green Initiatives Awards
MEDIA CATEGORY
• Landscape Architecture Media Awards
RESEARCHER CATEGORY • Landscape Research Awards
STUDENT CATEGORY
• Student Design Awards • Student Academic Awards
developments
STARPROPERTY.MY WEDNESDAY 06 DECEMBER 2017
04township
2
WHOLESOME LIVING AT BANDAR PUNCAK ALAM
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A gated and guarded township offering affordable housing and secure environment 1 Artist’s impression: LBS Alam Perdana is set to emulate the success of the developer’s flagship township in BSP. 2 Residents will be able to enjoy affordable homes in a secure and community-centric environment. 3 LBS Alam Perdana is a place where residents can get away from the hustle and bustle of the city. 4 LBS Bina Group Bhd group managing director Tan Sri Lim Hock San.
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MAGINE a serene environment filled with luscious greens where you can relax after a long day at work or take a stroll by the lake and watch the world go by. The township of LBS Alam Perdana is one such place. Residents can escape from the hustle and bustle of the city, and opt for a quiet retreat. Located in Ijok and within the Kuala Selangor district, the township is set to emulate the success of the developer’s flagship project in Bandar Saujana Putra (BSP). At LBS Alam Perdana, the homes bloom with the colours of life. Verdant greens and vivid blossoms fill the surroundings under blue skies. LBS Bina Group Bhd group managing director Tan Sri Lim Hock San said this development is well-positioned to meet the needs of today’s home-seekers who desire affordable housing in a secure and community-centric environment. “We believe that every Malaysian deserves a home which can inspire and enrich their lives. This is why, for over 25 years, LBS has thrived in the business of building homes and townships that meet the needs of Malaysians. “In any LBS townships, the communities are celebrated and nature is appreciated. Ultimately, life-long memories are made. "We are delighted with the success of our vibrant BSP which was master-
planned for families. "The BSP township was developed based on three pillars: affordability, connectivity and community. We are confident of repeating this success with LBS Alam Perdana,” said Lim. Spanning 469.86 acres, LBS Alam Perdana is a well-planned neighbourhood cluster surrounded by facilities and amenities that promote community living. One of the key highlights is the gated and guarded nature of the township. This feature is complemented by back-lane gardens that serve as green pathways linking the housing units. These back lanes incorporate nature into everyday living and serve as a useful motivation for residents to maintain an active lifestyle. To further promote social interaction, the township is equipped with a children’s play park, futsal court and community centre that houses an indoor badminton court, kindergarten and public library. Aside from the affordably priced terraced homes and townhouses, it’s the little luxuries that make living at LBS Alam Perdana so much more enriching. Here, you grow as part of the community and the community spirit is celebrated. Everything has been thoughtfully put in place to encourage togetherness for a better quality of life.
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Network of mature townships Strategically located at the northwest section of the Klang Valley, the residents of LBS Alam Perdana enjoy the convenience of commuting to and from work via the KL-Kuala Selangor Expressway (Latar), Guthrie Corridor Expressway (GCE), New Klang Valley Expressway (NKVE), North-South Highway (PLUS) and the DamansaraShah Alam Expressway (DASH). It is touted as an ideal township to settle in considering its proximity to other established areas including Shah Alam, Damansara Perdana, Meru and Sungai Buloh. LBS Alam Perdana is only 25km from the Sultan Abdul Aziz Shah Airport in Subang and 6km from the Universiti Teknologi Mara (UiTM) campus. Adding to the LBS portfolio of thriving townships, Lim said the group is confident that its combination of landed residential and commercial developments as well as affordable schemes under the RumahSelangor Ku (RSK) and Perumahan PenjawatAwam1Malaysia (PPA1M) programmes planned for LBS Alam Perdana is just what the market needs. The township’s first two
developments, Simfoni Perdana and Irama Perdana, together have received positive response from homebuyers. Simfoni Perdana comprises 980 units of double-storey townhouses. Affordably priced from RM368,000, the townhouse has a gross built-up area of 1,191 sq ft comprising three bedrooms and two bathrooms. Irama Perdana has 673 units of double-storey terrace houses. Attractively priced from RM479,900, each unit has an average built-up area of 1,208 sq ft and comes with four bedrooms and three bathrooms. The next phases of development in the pipeline will include terraced homes, semi-detached houses, apartments and commercial units. With years of experience in township development, LBS is poised to create another thriving neighbourhood at Ijok with its Alam Perdana project. For more information, visit www. lbs.com.my or call 1700-81-8998.
Scan for more information of LBS Alam PerdanaIrama Perdana
Scan for more information of LBS Alam PerdanaSimfoni Perdana
WEDNESDAY 6 DECEMBER 2017
STARPROPERTY.MY
5
cover story
06annual
STARPROPERTY.MY WEDNESDAY 06 DECEMBER 2017
review
By AISYAH SUWARDI aisyahs@thestar.com.my and HAKIM HASSAN hakim@thestar.com.my
KEY EVENTS OF 2017 THAT IMPACTED PROPERTY SECTOR Significant news of the year can be ascribed to the five elements of nature
A
S 2017 comes to an end, it's fitting to look back at some of the events that have affected the property sector. Whether you are a fan of feng shui or not, chances are you would have heard of the five elements of nature: wood, fire, earth, metal and water. The balance of these natural elements plays an important role in the home and living environment. Let’s review some of the significant property news that can be attributed to the respective elements.
WATER
Being a tropical country that experiences two monsoon seasons every year, Malaysia is used to heavy rainfall. On Nov 4, Penang experienced an overnight deluge that inundated many parts of the state. It was one of the worst natural disasters to hit the state in over 22 years. Floodwaters rose to as high as one metre, claiming seven lives and forcing thousands of victims to seek temporary shelter at relief centres. What to do if you live in a flood-prone area Here are some tips for the wet season: • Prepare waterproof containers for valuables and important documents. • Arrange for alternative accommodation on higher ground if you are living in a low-lying area. • Empty the fridge and cupboards, and leave the doors slightly open when evacuating. • Relocate electrical appliances to higher ground. • Disconnect electrical appliances that cannot be moved. Flood recovery guide • Contact your insurance provider as soon as possible to report losses due to flood damage. • Arrange for alternative accommodation and begin the process of restoring your home as soon as possible. • Remove mud and other debris, check your gas and electricity supplies. Remove any damaged fixtures/fittings and furniture. Never touch a fallen electrical wire. Call the power company immediately. • Practise good personal hygiene and wash your hands often. Wear waterproof boots and gloves to keep the flood water from touching your skin. • Protect your health. Discard all food that might have been in contact with flood water. Do not use tap water directly for drinking, cooking or bathing after the flood. Boil the water and add water purifying tablets.
FIRE
METAL
Despite claims from developers that the increasing prices of construction materials have led to high costs for new homes, reports from the Department of Statistics Malaysia showed otherwise. The Building Material Cost Index (BCI) has shown an overall decrease in the region of Peninsular Malaysia since August 2017. The following table is the latest unit price indices of building materials that show changes as compared to the previous month: Region
Index Point changes (Oct/ Sept 2017)
B-Perak -1.9 E-Perak -2.4 F-Eastern -1.9 F-Eastern 1.9 Steel B-Perak 0.6 Bricks & Walls F-Eastern 0.4 All regions -2.4 Timber 0.2 Roofing materials B-Perak C-Central 1.3 0.1 Ceiling materials B-Perak A-Northern 1.4 Steel and metal B-Perak 0.9 sections C-Central 2.4 A-Northern 0.5 Plumbing materials B-Perak 0.6 F-Eastern 0.5 Floor and wall tiles B-Perak 0.4 F-Eastern 0.2 Sanitary fittings B-Perak 0.5 Paints C-Central 0.5 F-Eastern 0.3 All Regions -2.7 Plywood Cement
Source: Department of Statistics Malaysia
WOOD
Despite the general soft sentiment of the national economy, Malaysia External Trade Development Corp (Matrade) announced a surge of 22.6% in Malaysia’s total trade for the first eight months of 2017. One of the notable sub-sectors that contributed to the positive figure is furniture export. Recognised for its high-quality wooden furniture, Malaysia has been among the top 10 largest furniture exporters in the world for several years. “In 2016, amid the challenging global economic outlook, furniture exports continued to register a steady growth of 4.2% amounting to RM9.53bil, compared with 2015,” said International Trade and Industry (MITI) Minister II Datuk Seri Ong Ka Chuan. With the recent hurricane that hit the United States and the Caribbean, wooden furniture exports are expected to increase further. The abundance of raw materials, especially rubberwood, in Malaysia has enabled the furniture industry to develop strongly.
On Sept 14, 23 people including students and teachers of Darul Quran Ittifaqiyah tahfiz (religious school) tragically lost their lives in a fire in Kampung Datuk Keramat. Seven boys, aged 11 to 18, were arrested. Two of them were charged with murder while the others were charged with self administration of drugs. The tragic event conjured up previous cases related to poor fire safety measures at unregistered and private tahfiz schools, with more than 200 incidents reported since 2015. Earlier in August, 16 people including eight students fled an early morning fire at the family-run Tahfiz Al-Taqwa in Baling, Kedah. Another religious school in Sabak Bernam was also destroyed in a blaze on May 7. Fortunately, no casualties were reported. On Sept 28, another fire was reported at a religious school in Rembau in which 37 female students managed to escape their hostel in the wee hours of the morning. Under the instructions of the Prime Minister, the Fire and Rescue Department will be carrying out an audit on the fire safety protocols at tahfiz schools nationwide. National Institute of Occupational Safety and Health chairman Tan Sri Lee Lam Thye, who is also involved in the newly formed special task force on tahfiz schools, said it is essential for any building, be it office or school, to have a mandatory safety feature. “It should be the duty of the building managers to ensure that their premises are safe,” he said.
EARTH
On the morning of Oct 21, Malaysians woke up to the appalling news of a landslide tragedy that took place at Tanjung Bungah, Penang, burying 11 construction workers. The incident occurred at the construction site of two 50-storey towers totalling 980 units. Approval for the project was initially not granted by the Department of Environment due to its proximity to a granite quarry. According to Bukit Bendera MP Zairil Khir Johari, the project was finally approved after the opinions of 17 different technical departments, mostly federal government agencies, were taken into account. The case is still under probe with the developers appointing Arup Jururunding (Penang) Sdn Bhd to independently look into the cause of the landslide as well as propose short and long-term safety measures. Penang Department of Occupational Safety and Health is also investigating the case.
cover story
STARPROPERTY.MY WEDNESDAY 06 DECEMBER 2017
annual review07
By AISYAH SUWARDI aisyahs@thestar.com.my
HEED THE WINDS OF CHANGE Solutions around the globe on dealing with housing issues
NORTH
Ontario Premier Kathleen Wynne has announced several new housing regulations for one of Canada's most populous provinces. One legislation calls for the addition of property tax for vacant homes. The tax was introduced due to the high number of vacant property in Ontario last year. At the rate of 6.5%, it is one of the city’s highest record in 65 years. The new tax was aimed at encouraging property owners to rent out their place or sell it off. Other notable changes include the formation of a housing advisory group that will be in charge of reporting to the government about the state of housing in Ontario. The group will also be responsible for discussing the effect of any measure as well as providing additional steps that are needed. Recently, Moody's Investors Service reported that the number of Malaysia’s unsold and vacant properties had increased exponentially over the past three years. The alarming situation will continue to worsen if no direct measures are taken. The policymakers of Malaysia could learn a thing or two from Ontario when it comes to dealing with vacant properties within Kuala Lumpur in view of the current housing stress.
WEST
Germany is renowned for the lowest home ownership rate in the developed country, with only 51.9% of the population having a place to call their own. The cause of the phenomena can be traced back to 1945 when Germany surrendered after World War II. Houses were nothing more than rubble and debris, and the economy was not doing any better. Thus, the West German government initiated a housing law to boost the construction of houses. As most citizens could only afford to rent a place rather than buy a house, the government focused on producing more rental housing. As the country evolved, the citizens remained contented to rent rather than buy their own house. Some of the reasons include Germany having one of the lowest rental rates according to OECD-Eurostat PPP Database, and the state government capping the rent increase at maximum 15% over a three-year period. While the Malaysian dream seems to be a home for everyone, perhaps the government and the public should reconsider their position on home ownership and initiate measures that make renting a more attractive option. A more flexible way could lead to a less pressured market situation.
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good housing policy does not have to solely focus on cheap or affordable homes. While a dwelling has been a necessity of the human race – or any living being for that matter – since the dawn of time, people have always come up with creative ideas to deal with various housing issues. From North, South, East and West, here are some interesting solutions found in countries around the world.
SOUTH
In Australia, citizens are offered the Commonwealth Rent Assistance as part of their housing support. To ensure that the people can live in a comfortable place without having to fork out half of their salary, rent assistance has been given to eligible citizens as a non-taxable income supplement payable to those who rent in the private or community housing markets. While the Malaysian Government has been devising several policies and housing schemes to help the people own a home, it would be helpful if the authorities could provide assistance to those who are renting, rather than focusing on the prospective home buyers or landlords.
EAST
The scrap-and-build method in Japan’s housing market may seem eccentric to some people, but the recent trend replacing the old approach is something worth pondering. In the old days, the Japanese would tear down the old house after the owner passed away or has moved out because prices of homes in the country depreciates over time. The average lifespan of a house in Japan is about 30 years. As young people are usually the ones in need of a new home, they often have to bear the cost of demolishing a house as well as building a new one. Hence, refurbishing an old home becomes the solution. The interior of the house receives a total makeover while the structure remains the same. While it is a rare practice in Japan at the moment, this approach is slowly gaining traction as the price for the refurbished house is much lower. The developers also enjoy the benefit of not having to demolish a house and rebuild it. What can we learn from this Eastern approach? While Malaysians rarely practise the scrap-andbuild method, it is perhaps advisable for the young buyers to consider searching for second-hand housing rather than insisting on buying an entirely new house as their first home. Broadening one’s choice could lead to some pleasant surprises.
developments
STARPROPERTY.MY WEDNESDAY 06 DECEMBER 2017
08 high-rise By HIDAYAH SARUDIN hidayah@mystar.com.my
2
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GEM OF A HOME FOR THE FAMILY Residents of Sapphire 9 at Cheras 9th Mile can expect privacy amid a serene environment
1 Sapphire 9, a stylish low-density condominium offering 150 residential units. 2 The development also provides many lifestyle facilities including swimming pool, wading pool, convenience shop, outdoor cafe and lounge area. 3 Four types of units are available, with spacious built-ups from 1,091 to 2,356 sq ft. 4 Residents can choose between units for big families (Type A and D) and for smaller families (Type B and C).
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HE sign of a mature and developing township is the continuous expansion of residential development year after year with no indication of slowing down despite the increasingly lively neighbourhood. Cheras, being one of Kuala Lumpur’s most thriving region, is no stranger to the spillover effect that has seen it grow into a sizeable community. At the Cheras 9th Mile stands Sapphire 9, a stylish low-density condominium offering 150 residential units. While Cheras is generally densely populated, Cheras 9th Mile offers a quiet and relaxing environment due to its strategic location. This makes Sapphire 9 a suitable home for those who want to enjoy a modern yet wholesome lifestyle. It is the perfect place to bring up children because the low-density neighbourhood promises to be a private haven with little traffic. Developed by Greenbase Development Sdn Bhd, Sapphire 9 offers contemporary living with
ample conveniences and functional amenities. The developer is a subsidiary of Harta Intan Group. Sapphire 9, one of the earliest developments at Cheras 9th Mile, comprises two blocks of freehold residential towers. The development comes with 24-hour multitier security and card access which will deliver privacy to residents and ensure peace of mind. With four types of units, the development offers spacious built-ups from 1,091 to 2,356 sq ft. Residents can choose between units for big families (Type A and D) and for smaller families (Type B and C). One of the more distinct offerings of Sapphire 9 is the dual-key units which are perfect for multi-generational living. In addition, the development provides many lifestyle facilities including swimming pool, wading pool, convenience shop, outdoor cafe and lounge area. Those who wish to sweat it out can go to the
5 Sapphire 9 is suitable for those who want to enjoy a modern yet wholesome lifestyle.
Scan for more information
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gym at level six, while parents or grandparents can indulge their young ones at the children’s playground. Those who wish to enjoy their own family time or a private party will be able to utilise the function room at level six or the multi-purpose hall for gatherings and celebrations. Built with the idea of accommodating a growing family, the site of Sapphire 9 is close to a multitude of educational institutions including SJK(C) Batu 9 Cheras. A short drive away are institutions of higher learning such as USCI at Taman Connaught, UTAR at Bandar Sungai Long and the Asia Metropolitan University at Hulu Langat. Sapphire 9 is also close to the Taman Suntex MRT Station and is served by major highways or main roads including the Cheras-Kajang Highway, Jalan Cheras, Shah Alam Highway and Federal Highway. For more information, visit www.sapphire9cheras.com.
Developer: Greenbase Development Sdn Bhd Gross Development Value (GDV): RM88mil Completion date: End of 2020 Gross built-up: 1,091-2,356 sq ft Total block: Two blocks Total units: 150 units Prices: Type A: From RM600,500 Type B: From RM554,800 Type C: From RM477,800 Type D: From RM980,000 Price per sq ft: From RM430 Maintenance Fee: Estimated at 22 sen per sq ft Room: Type A: Three bedrooms plus utility with three bathrooms Type B: Three bedrooms plus utility with two bathrooms Type C: Three bedrooms with two bathrooms Type D: Dual-key, five rooms and five bathrooms
WEDNESDAY 6 DECEMBER 2017
STARPROPERTY.MY
9
developments
10 interview
By HAKIM HASSAN hakim@thestar.com.my
Q Q
UALITY has always been the catchphrase whenever property developers mention their projects or products. For SkyWorld Development Group Sdn Bhd, it‘s more than just a word – the company has taken its commitment up a notch by introducing a Quality Centre in Setapak. SkyWorld Development chief operating officer Lee Chee Seng said the RM3.8mil centre will be launched soon. It covers 13,000 sq ft and has a built-up area of 7,500 sq ft.
Centre of excellence
“The centre acts as a quality benchmark and serves as a platform for training SkyWorld staff and educating those who want to know more about the construction industry in Malaysia. It is also a sharing hub for our business associates, home owners, prospective buyers and the general public. “When you visit our centre, you will be presented with a residential show unit where you can learn to identify shortcomings in quality that you may not know about or be able to identify earlier,” said Lee. Acceptable – or unacceptable – finishing is based on two standards: the Quality Assessment System for Building Construction Works (Qlassic) and the Construction Quality Assessment System (Conquas). The show unit consists of a living room, bedroom, yard, balcony, corridor, staircase, kitchen and bathroom. “At this centre, we nurture our people to pay closer attention to the quality of our homes so that we can continue to raise the bar for building excellence," said Lee. "Another objective of the centre is to elevate the standard of construction." As part of the company's commitment to use technology, it has developed an app called SkyWorld Connects to serve as a platform to connect and engage with all SkyWorld's property owners. SkyWorld Development Sdn Bhd chief operating officer Lee Chee Seng.
1 The centre acts as a quality benchmark and serves as a platform for training SkyWorld staff and educating those who want to know more about the construction industry. 2 SkyWorld uses hightech methods such as the Industrialised Building System and waste management solutions to improve efficiency and reduce pollution levels.
RAISING THE BAR O New Skyworld quality centre to serve as a benchmark for construction industry “We have set up a team to handle customer relations (CRM) and the handing over of vacant possession (HOVP). The team will monitor SkyWorld Connects to ensure we provide quality service," Lee explained. The app enables our customers to submit their comments, feedback, defects and registration at the touch of a button.” The company also provides infrastructure such as fibre-optic cables, and bigger space for mechanical and electrical (M&E) systems on each floor to allow for future expansion. Residents will get to use their mobile phones for card access (via Bluetooth to the card reader) and as an intercom to the guardhouse. For SkyWorld, innovation doesn’t stop at developing an app. The company utilises recycled items and raw finishes to be more environmentally friendly.
Well-crafted offerings SkyWorld uses high-tech methods such as Industrialised Building System (IBS) and waste management solutions to improve efficiency and reduce pollution levels. Lee said that IBS is used for all SkyWorld high-rise residential developments. “We always carry out a feasibility study before launching a project. Thanks to our dedicated team and support from our business associates, we can craft the right product mix and enter the market at the right time for the right target. “Complemented by a strategic location in a mature neighbourhood, our reasonably priced developments are well-received by purchasers,” he said. SkyWorld’s commitment to excellent quality is demonstrated in its upscale and well-crafted offerings. “When you visit our SkyWorld
Quality Centre, we will show you the difference between the Qlassic and Conquas compliant finishing against non-compliant finishing," said Lee. "In Malaysia, an average of 7,600 projects and developments are built every year, and only 4.1% are certifi by Qlassic – we are among the select few. So, when you consider a SkyWo home, you can be sure of our quality commitment to you.”
Bringing up quality value
Building a quality development is on thing. To maintain it is a different ba game altogether. For this reason, SkyWorld forme a property management team primarily to monitor condo operatio – including security, maintenance an housekeeping. “It takes a lot of hard work to conceptualise and build a property. But it takes greater responsibility to maintain the development and bring
STARPROPERTY.MY WEDNESDAY 06 DECEMBER 2017
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up its value," said Lee. “No one likes to come home to a broken-down lift, soiled hallway or flooded car park.” Founded in 2008, SkyWorld took six years to set up its management team, laying a strong talent foundation as well as actively exploring and assessing quality land banks in the city of Kuala Lumpur. Lee said: “We build sky-living residences with a view of the beautiful city skyline. That gives our purchasers the best of both world – a strategic location with abundant amenities and facilities, and a comfortable sky-living experience backed by a great customer relations team. “Why Kuala Lumpur? Given that the Wilayah region is one of the top investment hotspots, we decided to stay focused and position ourselves as a city developer. With the scarcity of land, the only option is to build up,” he added. The SkyWorld Quality Centre will be open to the public from Jan 18 next year. For further information, email corporate@skyworld.my . 2
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“In Malaysia, an average of 7,600 projects and developments are built every year, and only 4.1% are certified by Qlassic – we are among the select few. When you consider a SkyWorld home, you can be sure of our quality commitment to you. – Lee Chee Seng 1
Cover Story
12 annual
review
By HAKIM HASSAN hakim@thestar.com.my and AISYAH SUWARDI aisyahs@thestar.com.my
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ITH less than a month to the new year, StarProperty.my asked industry leaders for their outlook and impressions of the property market in 2018.
Malaysia Institute of Estate Agents (MIEA) president Eric Lim Khazanah Research Institute director of research Dr Suraya Ismail
The housing industry can look forward to an exciting 2018 because the public has become more vocal in expressing their needs. And affordable housing seems to be the primary concern of Malaysians. When people signal that they want housing in the price range of RM250,000 to RM300,000, some quarters claim that the market is crashing. It is not. People just want products that they can afford. When what is produced does not match the demand, the result is the glut we are seeing now. In my opinion, the recent property imbalance as reported by Bank Negara is due to the lack of comprehensive housing data as well as the mismatch of supply and demand in the market. People want to buy affordable homes but the supply is not in tandem with the demand, so of course there’s a glut. This is why Malaysia needs a national housing survey. As mentioned in Making Housing Affordable, a book published by Khazanah Research Institute in 2015, the survey will be conducted at mukim (subdistrict) level to provide input for the integrated housing database. The survey will cover demand factors such as demographic patterns and assessment of household incomes, as well as supply factors such as assessment of land suitability with current land use, and existing and future housing stock. It will be great for consumers if developers could provide quality products at reasonable prices. Developers should also increase productivity by modernising construction methods. There are several other technologies besides the Industrialised Building System (IBS) that could shorten the time taken to build a house, leading to reduced working capital and, hopefully, a lower-priced home in the future. Proper planning and thorough research by the authorities could also help provide what the public needs while maintaining a healthy and balanced housing market.
Despite speculation that the property market will crash in 2018, members and real estate agents concluded that the market is somewhat stable and moving at a moderate pace. It's true that the market has been soft for the past few years, but I think it is because buyers are savvier about the situation and thus more careful in making decisions. Also, the restrictive lending policy by banks is an issue for estate agents. Many buyers backed out after booking because of loan rejection or low margin of financing in both the primary and secondary property markets. Malaysia’s economy is doing quite well at the moment. In fact, we are on an uptrend with 6.2% of gross domestic product (GDP) in the third quarter of 2017 – which is one of the best in the region. So I think we can forecast good omens next year. Our unemployment rate fell to 3.4% in September 2017 from 3.5% in the same month last year. The numbers show that Malaysia has almost full employment. High employment is good for the property market because people will have steady incomes, and they will have a location in mind when buying property. We hope that in 2018, the banks will be a bit lenient in their lending because those in the market are genuine property buyers or investors. If the tight situation continues, the demand for housing will be affected. Banks are important in sustaining the property market. As for MIEA’s strategy for next year, we plan to have more training for the real estate negotiator (REN) to ensure better service for customers as well as putting more effort into marketing strategy by utilising social media and other forms of digital marketing.
“The housing industry can look forward to an exciting 2018 because the public has become more vocal in expressing their needs. And affordable housing seems to be the primary concern of Malaysians.
– Dr Suraya Ismail
OUTLOOK ON PROPERTY SECTOR FOR 2018
Industry leaders forecast challenging times ahe
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Retailer Group Malaysia managing director Tan Hai Hsin
The group’s 2018 growth forecast for the retail sector in Malaysia is 6.0%. To stimulate economic activity and boost consumer confidence, the general election should be held before the middle of next year. The government needs to take more concrete action to strengthen the ringgit. It must return to 2014 levels of around RM3.26 against the US dollar before the end of next year to encourage consumer spending. The depreciation of the ringgit since early 2016 has affected the price of retail goods, resulting in higher cost of living for Malaysians. Retailers' profit margins have dipped severely because of the higher cost of importing raw materials, unfinished goods and retail items. Internationally, the stable and sustainable economic data in China and the United States for next year will influence the local retail market as well. This year, the retail segment has been affected by weak consumer spending, low consumer confidence and rising operation costs. To spur retail sale, the government must improve the economic conditions in the country. When economic growth is broadbased, more Malaysians will have higher take-home pay which translates to higher purchasing power. The most critical problem faced by shopping malls in Klang Valley in 2016 and 2017 was a severe reduction in consumer spending due to the rising cost of living and weak economic conditions. These were the main reasons that led to a fall in average occupancy rate and rental rate, which impacted even the popular shopping centres in Klang Valley. Another reason is retail oversupply in the Klang Valley for the last eight years. The oversupply problem is primarily at the more affluent locations including Kuala Lumpur city centre, Petaling Jaya, Damansara and Cheras. The situation is not so apparent in such areas as Klang, Bangi, Kajang and Kepong. Nowadays, more Malaysian consumers are shopping online for retail goods. The recent success of the Double 11 Single Day is a strong indication of this trend. However, the online sale of retail goods only accounts for 2% of the total retail market in 2016; it has yet to make a significant impact on the retail industry. The online retail market will continue to grow but is unlikely to replace the brick-and-mortar retailers.
The first reason is that traditional retailers in Malaysia are now embracing modern technology. Many of them have introduced the online facility as an alternative distribution channel. They are now competing headon with pure-play retailers that only do business online. The latest is H&M; Malaysians can now shop online for H&M products or buy from its stores. Pure-play online retailers are now setting up physical stores because their loyal customers tell them they still want to feel and try out the products. With more consumers preferring to use the smartphone to shop online instead of laptop and desktop computer, retailers in Malaysia are beginning to accept mobile wallet payment. Smartphone ownership in Malaysia accounts for 70% of the total handphone ownership. The smartphone is also getting cheaper. This new method of payment will soon be widely accepted by Malaysian consumers.
Real Estate & Housing Developers' Association Malaysia (Rehda) president Datuk FD Iskandar The year 2017 has been a challenging year with pressing issues that continue to affect the property market. Some sectors within the industry reported lacklustre performance, such as the overhang as reported by the National Property Information Centre (Napic) last month. The recent freeze on approvals for shopping complexes, offices, serviced apartments and condominiums priced above RM1mil is expected to have an impact on the market further into 2018. According to Rehda’s Property Industry Survey for the first half of 2017, about half of our members have a neutral outlook for the property market performance and residential sector growth for the year 2018. The key challenges will have to be addressed for the market to truly recover. The recent opening of the MRT in the Klang Valley is an active catalyst to spur demand for housing in the surrounding areas in 2018. Home owners are now looking to buy into areas with better connectivity or transit-oriented development (TOD). The implementation of transportation projects all over Malaysia, especially in the more urbanised areas, will have a positive spillover effect on the property market.
In all likelihood, the industry will experience growth in 2018 – even if it is not a major one. This could be of significance in the near future. Malaysia has reported an increase in its GDP, which inevitably means improvement in the country's economic activities and more job opportunities. This will further increase the demand in the property sector. As for the oversupply of homes, the mismatch of locations has affected the market the most. The root of the problem surrounding oversupply is the mismatch between supply and demand. There is a lack of data that hinders developers and other industry players from sufficiently and accurately providing housing to the rakyat. Another factor concerns the disposable income and purchasing power of the average Malaysian. While the per capita income of Malaysians has improved by about 46% since 2010, it is still not enough to sustain the rising cost of living in our country. Many Malaysians cannot afford to purchase property because their household debt is high. We believe that measures have to be taken by the authorities to address this serious issue. End-financing is another issue that affects the ability of potential home owners to purchase a property. We hope that the Government will address the end-financing problem that impedes some Malaysians from owning a home. The journey in 2018 will not be smooth sailing. It will continue to be encumbered by challenges, but I have faith in the industry and its stakeholders to persevere as always. Rehda fully supports government efforts to provide affordable housing as part of the national housing agenda. The Budget 2018 announcement by our Prime Minister in October speaks volumes of the Government's commitment to provide affordable housing with more homes to be built under the PR1MA programme, allocations under the MyDeposit scheme to assist with down payment, and the extension of the step-up financing plan to include private housing developers as well. The move by Maybank Islamic to launch HouzKEY, its Rent-to-Own scheme, will lift the burden of those who can’t afford to purchase their own home yet. However, we hope that the Government will take cognisance of our request for incentives – for both buyers and developers – to promote affordable housing, such as fast-lane approval, higher density and discounted premium. These incentives will undoubtedly assist in ensuring seamless delivery of housing for the people. We also propose that the Government waives the stamp duty for first-time buyers as part of its efforts to promote home ownership. > For more on this topic, go to starproperty.my
developments
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EXPERIENCE A REALITY WITH ENDLESS POSSIBILITIES 1
Sunway Velocity transforms KL South’s skyline with significant composition and infrastructure.
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RANSIT-ORIENTED development (TOD) is gaining popularity in the property industry because of its concept of creating vibrant and sustainable communities with well-connected transportation links. At Sunway Velocity, a top TOD located on prime freehold land in Kuala Lumpur, all components are seamlessly connected to be within walking distance of each other. Residents and business professionals at Sunway Velocity can easily walk to the Cochrane Underground MRT Station and Maluri MRT and LRT Underground Interchange via dedicated pedestrian linkways.
Integrated development
Dubbed the City of Endless Possibilities, Sunway Velocity is a RM4bil selfsustained integrated development that combines residential units, retail, offices, medical centre, hotel and shopping mall – all at one address. Spread across 23 acres, Sunway Velocity is located 3.8km from the Kuala Lumpur city centre. Sunway Velocity Mall opened its doors to the public in December 2016 and has since achieved a tenancy rate of 98%. Sunway Velocity Hotel, which opened in September, has 351 premium rooms. The hotel complements the Sunway Velocity Mall where hotel guests have access to over 500 retail
outlets, 150 food and beverage stores, and an array of entertainment and recreational facilities. To provide healthcare services within the Sunway Velocity integrated development, Sunway Medical Centre@ Velocity is targeted to begin operations in the first half of 2019. The hospital, with a built-up area of about 328,000 sq ft, will be equipped with 240 beds, six ICU beds, 77 outpatient specialist clinics, six operating theatres and five delivery suites. Sunway Velocity's two commercial and two residential developments are soon to be completed and had enjoyed good take-up rates. The two commercial developments, Signature Shop Office with 10 blocks and Signature 2 Shop Office with eight blocks, are slated for completion at the end of this year and the second half of 2018. They are accessible to V Park, which is the green lung of Sunway Velocity. The two residential developments are V Residence 2, which consists of 334 units, and V Residence Suites with 411 units. The V Residence 2 is scheduled for completion soon with a full takeup rate, whereas the V Residence Suites will be completed in Q1 2018. It has now achieved a 90% take-up rate. The residential towers are the perfect arrangement for modern urban living with three-tier security system to assure owners' peace of mind while living here. It also consists a Grandiose lift lobby with exciting rooftop facilities where residents get to enjoy a panoramic view of the Kuala Lumpur city skyline.
Velocity times TWO
Replicating the success of Sunway Velocity, Sunway Velocity TWO will sit opposite the fully-integrated development. With an estimated gross development value (GDV) of RM2bil, Sunway Velocity TWO will comprise more than 70% residential units, complementing the development of Sunway Velocity that encompasses 75% of commercial units. Linkways between Sunway Velocity and Sunway Velocity TWO will be built to ensure proper and safe connectivity for its residents, commercial users and visitors to enjoy seamless conveniences between both the developments.
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Sunway has also introduced a Sunway Certainty Plus Campaign that provides financial flexibility and tailored packages on selected property projects. For more information, contact 017-9640700 or visit www. sunwayproperty.com .
1 At Sunway Velocity, all components are seamlessly connected to be within walking distance from one another. 2 The residential development consists of a Grandiose lift lobby with exciting rooftop facilities where residents get to enjoy a panoramic view of the city skyline.
Scan for more information
Linkways between Sunway Velocity and Sunway Velocity TWO will be built to ensure proper and safe connectivity for its residents, commercial users and visitors to enjoy seamless conveniences between both the developments.
WEDNESDAY 6 DECEMBER 2017
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events
STARPROPERTY.MY WEDNESDAY 06 DECEMBER 2017
16 fair By HAKIM HASSAN hakim@thestar.com.my
2 1 The property and career fair at the Kuala Lumpur Convention Centre received overwhelming response from the public. 2 Visitors were spoilt for choice at the last StarProperty.my Fair for the year. 3 From left: Putrajaya Holdings Sdn Bhd marketing and sales senior manager Khairul Anuar Othman explaining the company's project to StarProperty Sdn Bhd assistant general manager Ernest Towle and Star Media Group Bhd group chief operating officer Datuk Calvin Kan. 1
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tarProperty.my recently hosted its last and most significant property fair of the year at the Kuala Lumpur Convention Centre in conjunction with myStarJob.com fair. Prominent names in property development showcased their latest projects to prospective buyers. The property-job collaboration brought together some of largest developers in the country looking for potential buyers and reputable employers looking for young graduates eager to kickstart their careers. Among the developers were Amcorp Properties Bhd, BSG Property, CB Land Sdn Bhd, Cicet Asia Development Sdn Bhd, Eco World Development Group Bhd, Mah Sing Group Bhd, Maju KL, Premier Plus Property Sdn Bhd, Putrajaya Holdings Sdn Bhd, S P Setia Bhd and UEM Sunrise Bhd. One of the offerings exhibited by Putrajaya Holdings Sdn Bhd was Augusta, a freehold development comprising 31 units of semi-Ds that boast a lap pool and private lift each. The homes have different built-up sizes ranging between 4,291 and 4,794 sq ft. Another Putrajaya Holdings product is Flora Rosa which is scheduled for completion in 2020. The development comprises four towers with a total of 676 units. The same developer also offers Duta Villa, a freehold residential project with a land area of 2,243 to 2,861 sq ft and scheduled for completion in 2018. Homebuyers at the fair were given a chance to win a serviced suite at Petaling Jaya worth over half a million by registering at wah.starproperty.my . In total, 51 companies were present from both property developers and potential employers during the two-day event.
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GREAT CHOICES FOR THE MASSES
4 Developers showcased a variety of properties, ranging from affordable to luxury homes, to prospective buyers. 5 Visitors enjoying the activities at the StarProperty.my Fair 2017.
StarProperty.my Fair 2017 ends the year with a bang
The fair also invited speakers including Soleil Trinity Resource founder Jessie Lee, Bricksmen Group co-founders Caleb Chin and Tony Yap, 925 founder Mark Chua, Now Asia International Sdn Bhd founder Mekanik Wang, IQI Malaysia’s chief economist Shan Saeed, Propedia Consultant founder Sr Vicky How, Ho Chin Soon Research Sdn Bhd senior manager Khairudin Ya’cob, REI Group of Companies chief executive officer Dr Daniele Gambero and Khalil Adis Consultancy founder Khalil Adis. The speakers shared their insights and expertise with visitors who wanted to further their careers and make profitable investments. The StarProperty.my Fair 2017 was met with overwhelming response from the general public who gained valuable knowledge on the property market as well as investment opportunities. StarProperty.my also ran a lucky draw contest during the two-day fair for registrants and readers of StarProperty.my e-mag with prizes such as The Star e-paper, vouchers, movie tickets and more. For more information on the fairs, visit fair.starproperty.my .
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were present from both property developers and potential employers during the two-day fair. 5
developments
STARPROPERTY.MY WEDNESDAY 06 DECEMBER 2017
retail17
By AISYAH SUWARDI aisyahs@thestar.com.my
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ITH Sunway Pyramid celebrating its 20th anniversary recently, Sunway Malls has grown by leaps and bounds over the years by adding four more malls under its belt. The five malls are Sunway Pyramid in Sunway City; Sunway Carnival in Seberang Jaya, Penang; Sunway Giza at Sunway Damansara; and Sunway Putra and Sunway Velocity in Kuala Lumpur. Sunway Malls & Theme Parks chief executive officer H.C. Chan said: “We have a few projects in the pipeline such as Sunway Tambun in Ipoh, Sunway Iskandar in Johor and Sunway Paya Terubong in Penang. In the first quarter of 2018, we will start on the expansion of Sunway Carnival. “The behaviour of mall visitors has changed; people congregate at malls for many purposes aside from shopping. "Today, the percentage of visitors shopping in a mall could be slightly over 50%, with 30% seeking food and beverage(F&B), and 20% going for leisure and entertainment. “Our key differentiator is delivering delightful experiences that engage with the five senses (taste, sight, touch, smell and sound),” explained Chan, who is also the advisor of Malaysia Shopping Malls Association. With a strong strategy in place, Sunway Putra Mall was accorded the prestigious Fiabci Malaysia Property award 2017 under the Retail Category. Sunway Putra Mall general manager Phang Sau Lian said the group was prompted to acquire the property (formerly known as The Mall) in 2011 because the catchment area within a 5km radius of the mall was underserved and a retail gap was evident. “Renovation began in 2013 and was completed in 2015. We have transformed the property into a chic and trendy mall. "The size of Sunway Putra Mall is now close to 600,000 sq ft housing 300 shops. We use creative space designs that give more net lettable space,” said Phang. With its facade inspired by the South Africa’s Sun-drop Diamond, Sunway Putra Mall uses vibrant colours to bring more energy to the area. Phang said that although market
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SUNWAY MALLS FORGING AHEAD
Projects in the pipeline to transform the retail experience sentiment had been soft over the past two years, Sunway Putra Mall doubled its revenue and profit. “Despite challenges within the retail industry and cautious consumer confidence, Sunway Putra Mall is progressing well as we strive to provide quality service and experience to our customers. “Our next step is to bring in special F&B offerings. Malaysians love food, and the F&B sector is one that thrives,” Phang added. Its determined and capable management has helped the mall win a string of awards in these two years. Sunway Putra Mall received the government's Malaysia Tourism Quality Assurance 2017 (MyTQA) certification which recognised its role in delivering outstanding service to local and foreign tourists. Sunway Putra also bagged bronze for Best Refurbished Building in the MIPIM Asia Awards 2015, gold for Best Experiential Marketing Award (Category B) 2016 from the Malaysia Shopping Malls Association, as well as gold from the Kuala Lumpur Mayor’s Tourism Awards 2017 under the Shopping Mall Category. “Sunway Putra Mall is Sunway Malls’ first venture in Kuala Lumpur. With our experience in handling Sunway Pyramid as an iconic destination within Sunway City, we are familiar with the needs and wants of local and foreign visitors,” said Phang. Chan added that Sunway Malls will take this opportunity to present Malaysian culture to the international market. “Malaysia should be proud of its
mall industry which is internationally competitive and has been globally ranked by CNN and the Economist Intelligence Unit over the past few years. Furthermore, it is no secret that Malaysians visit a mall almost every weekend,” he said. Although malls have mushroomed in the Klang Valley, Sunway Malls believes that being part of an integrated development is significant to its success. “Our malls in the Klang Valley are all part of integrated developments. In fact, we have moved on to transit-oriented developments. "This means our malls are now seamlessly connected via the public
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transport network. Our future malls will be similarly linked,” said Chan. “Our strength lies in the fact that we are part of a larger entity, the Sunway Group, which has many businesses that complement one another. Not many malls or mall developers have that advantage. “We are set to continue growing nationwide in the next few years. We have a team of experts within the management of Sunway Malls who are the main driving force. "We are gearing up to become Malaysia’s largest mall owner-operator, and I am confident Sunway Malls is on the right track,” added Chan.
1 Sunway Putra Mall’s signature facade symbolises the rejuvenation of an old area. 2 Sunway Putra Mall's increasing popularity is testament to Sunway Malls’ strategy. 3 From left: Sunway Malls chief operating officer Kevin Tan, Sunway REIT Management Sdn Bhd chief executive officer Datuk Jeffrey Ng Tiong Lip, Phang and Chan celebrating Sunway Putra Mall’s recent win at the Malaysia Property Awards 2017.
events
STARPROPERTY.MY WEDNESDAY 06 DECEMBER 2017
18 fair By HIDAYAH SARUDIN hidayah@mystar.com.my
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T the recent StarProperty.my Fair 2017 held at the Kuala Lumpur Convention Centre, speakers from different industries shared insights on topics related to property hotspots, investment strategies and Budget 2018. The following are highlights of the presentation.
The Story of Klang Valley Hotspot, by Ho Chin Soon Research Sdn Bhd senior manager Khairudin Ya’cob Looking at the built-up areas, we can see that the centre is roughly at Kinrara. Those who are from the north of Kuala Lumpur, let's say Batu Caves and Selayang, are about the Khairudin Ya’cob same distance to Kinrara as those who are in Cheras to the east, Shah Alam to the west, and Putrajaya to the south. “Bear in mind that this centre is not stagnant. Depending on the course of development, the centre may shift to the south, east or west. Ten years back, the centre of the hotspot area was Petaling Jaya. Lesser travel time is preferred. We draw a 20km radius from the centre of development of Greater Kuala Lumpur, which is at Kinrara – the first-tier location. Our takeaway point is to position yourself near the centre of development or at least within the first tier. People may want to look at an area that is cheaper and further from the centre, say within a 30km radius from Kinrara where there are more affordable houses. If you cannot be near the centre, follow the infrastructure. Find cheaper homes in areas that are accessible to Kuala Lumpur and Petaling Jaya where the majority of Greater KL’s population work and play.
After Budget 2018: Property buying for Gen Y with the transformation, timing and demand model, by REI Group of Companies chief executive officer Dr Daniele Gambero and Khalil Adis Consultancy founder Khalil Adis The high-speed rail project that connects Kuala Lumpur and Singapore – covering 350km in 90 minutes – as announced by Prime Minister Datuk Seri Najib Razak will be a game changer for the Malaysian property market. Dr Daniele Gambero Malaysia is the second most developed country in South-East Asia after Singapore and is a preferred destination for tourists, foreign direct investment (FDI), education and healthcare. Khalil Adis
HOT TOPICS FOR THOSE LOOKING AT PROPERTY
Experts share valuable insights on investment strategy and market options The Asian High-Speed Rail (HSR) network will give a much-needed boost to fast connectivity and mobility, which in turn will lead to better economic ties among the neighbouring countries. Malaysia will significantly benefit from it economically. The expected positive economic impact would be in the tourism, education, and digital sectors via the Digital Free Trade Zone (DFTZ), among others. Consequently, this will help boost the property market in the medium to longterm period. It will be fascinating to see how the government will plan development and economic clusters from along the HSR cities. At the same time, home seekers should pay attention to the development master plan, transportation plan, government budget allocation, economic drivers and job creation.
Embracing the Evolution of Property Market, by Bricksmen Group cofounders Caleb Chin and Tony Yap Investors should have a clear end-game in mind on what they want to achieve with their investment. A good investor's mindset is all about goals and plans. Caleb Chin The five fundamentals of good property assets are location, neighbours, project design, quality and booster. When it comes to replenishing resources
like money and financial capability for property, it is critical to know the fundamental elements that give real value to your investment assets. Study the fundamentals and you shall profit from Tony Yap them. Meanwhile, the three stages of a property buyer are capital, quota and own stay. Those who are new to property investment need capital. They should focus on gaining capital rather than rental yield returns. Quota means that seasoned investors are breaking the property investment code and have started to be creative in scaling their portfolios. Own stay is a stage where the investment has already yielded a good return, and the dream house has been self-financed by previous investments. Just like Robert Kiyosaki’s concept of enjoying luxury, make sure it's not making your cash flow negative.
Budget 2018: Impact on the Property Market, by Propedia Consultant founder Sr Vicky How The discounts on repayment of The National Higher Education Fund (PTPTN) loans, as announced by the Prime
Minister in Budget 2018, can benefit borrowers and decrease the percentage of bankruptcy on student loans. The announcement also included a 2% tax Vicky How reduction for incomes of up to RM70,000. Malaysians earning between RM20,000 and RM70,000 annually will have their income tax reduced by 2% beginning 2018. This is enjoyed by the M40 group with a household income of below RM9,000. The move helps to reduce the burden faced by lower and middle-income earners.
The Power of Cashflow, by Now Asia International Sdn Bhd founder Mekanik Wang When it comes to investing, many people do not have a strategy Mekanik Wang nor a system. Most beginners start without a proper system and they invest in things that seem to give a high return on investment (ROI) without really knowing the risks. Imagine a soccer team that plays with 11 strikers or 11 goalkeepers! What's going to happen to the team? Like the soccer team, many investors put all their money into an investment that they come across or something recommended by friends. They never track the cash flow and investment system. You must be prepared – just like a soccer team that has a proper system: the positions of goalkeeper, defenders, midfielders and the striker have been filled, and the team is ready to play the game.
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feature
STARPROPERTY.MY WEDNESDAY 06 DECEMBER 2017
20 lifestyle By NG PAU LING pauline@thestar.com.my
COLOURING YOUR NEW YEAR!
Four colour palettes that will make a statement in 2018
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OLOUR speaks louder than words. It is a powerful tool that possesses the ability to influence moods and emotions. An action as simple and cost-effective as adding a new hue to a wall can do wonders for the ambience of any interior. Here we share four inspirational colour palettes that will add vibrancy to your 2018. Each colour palette evokes a specific mood and highlights social focuses of the coming year, including the relationship between humans and technology, the fearless and bold nature, the sense of natural harmony in urban living and the creative ways to reinvent living spaces.
Blue-Green is the highlight of this colour palette. Rich and immersive, it is the most exhilarating of nature’s hues. It reflects the unexplored depths of the sea or the moment when warm morning sunlight permeates foggy forest. This hue is one that brings the nature indoors.
Futuristic finishes
In this digital age, a life immersed in technology has become the cultural norm. Tech is no longer just a tool; it is now an ally – a friend or even a means of survival. Cool greys and blues pairing with metallic finishes, the Conscious Being by Nippon Paint is a palette blended from synthetic and organic tones. The grouping of this colour set exhibits the essence of the digital and industrial-inspired design, drawing vibrancy and futurism into one space. The metallic finishes add versatility to the palette and remind us about industrial machines, while the smooth and warm undertones bring up a human touch, blurring the line between man and machine.
Heart Wood – Dulux’s colour of 2018 – is an earthy tone that sits between warm pink and milky brown. It conjures up a feeling of comfort, security and harmony which can transform an urban home into a sanctuary. Brown may sometimes be considered dull, but this warm colour of nature brings a sense of stability and security. The soft tone of Heart Wood is conservative, quiet and subtle, thus making it easy to adapt to any backdrop or blend with other palettes. It adds a timeless touch and softens the interior. Imagine curling up comfortably in an unhurried and relaxed ambience created by this earthy tone. Being free of stress – that is exactly what you need after a day of hard work. Jotun's City Motion colour theme has created an understatement with cocooning comfort.
Woody urban Blues pairing with metallic finishes, Conscious Being by Nippon Paint is a palette blended from synthetic and organic tones.
Fearless nature
From the highest mountain to the deepest ocean, life is a journey of exploring the unknown. Nippon Paint’s Seeking Adventure colour set is inspired by the oceans and mountains – seaweed, coral, graphite, pebble – echoing nature’s bold and courageous personality through the use of the saturated tones and organic neutrals. This palette encourages the clashing of colours, textures and patterns. You can combine two or more contrasting colours to create a bold and dynamic statement – red and aqua, green and coral; or add some saturated nature tones onto the muted or mineral shades to give a subtle yet pleasant accent.
The modern-day bustling city needs a balance with natural harmony, a breathing space where you feel relaxed and at ease while living at a comfortable pace.
Modest drama
Heart Wood is a timeless tone that can easily blend with any palette.
Nippon Paint’s Seeking Adventure colour set is inspired by ocean and mountain, echoing the bravery of nature through the free use of saturated tones and organic neutrals.
Heart Wood, Dulux’s colour of 2018, evokes a sense of comfort, security and harmony to transform an urban home into a sanctuary.
In an increasingly urbanised society, a new generation is finding innovative ways to reinvent their living spaces. Jotun’s City Motions colour theme captures these creative sanctuaries in blue-based shades. The younger generation emphasises self-esteem, creativity and identity, yet bold statements don't always need to be loud. Marble greys and warm weathered-woodland browns create a palette of soulful simplicity, modestly adding a touch of drama and glamour in spaces. The unnecessary and the excessive are stripped away as inventive urbanites transform compact spaces into sophisticated temples for easyliving functionality. This colour theme goes handin-hand with the “new luxury” which speaks of a peaceful haven that has soaked up exterior noises from the hustle-and-bustle cries of modern cities.
Jotun's City Motions in blue-based shades brings a touch of drama and glamour.