StarProperty.my Edition 3 Feb 2016 by StarProperty

FEB

2016 WEDNESDAY

Strive ahead with the Monkey in 2016 After the rambunctious year of the Goat, we usher in the cheeky year of the Monkey, and take a look at what is in store for you, your family, and your friends! > P02

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STARPROPERTY.MY WEDNESDAY 3 February 2016

COVER STORY

quote by Lorne Michaels goes, "People go to the zoo and they like the lion because it's scary. And the bear because it's intense. But the monkey makes people laugh." Indeed, the monkey is one of the most comical creatures in Nature, with their expressive faces that are able to mimic a wide range of human-like emotions. They are full of curiosity and intelligence, cunning and mischief, making them a popular animal with people from all walks of life. As one of the 12 signs in the Chinese zodiac calendar, people born in the year of the monkey generally exhibit some characteristics similar to the animal: great intellect, charismatic and skillful. By examining the 12 zodiac signs as well as the economic analysis and industry outlook for 2016 from the teachings of this ancient art, people will be able to get a good overview of what is in store for this year. Part of the general public's perception of feng shui is that it is associated to Chinese folklore, myths and age-old anecdotes. Two of the industry's top specialists in feng shui, The Malaysian Institute of Geomancy Sciences and Datuk Joey Yap, have helped to change this viewpoint with their unique methods. So come and swing into the year of the Fire Monkey along with these experts, and find out what to expect!

CAITLYN NG LI YUIN liyuin@ ocision.com

The oneness of man and environment

The Malaysian Institute of Geomancy Sciences (MINGS) was formed under the inspiration of Professor Master David Koh with his vision to introduce feng shui as a science and review its positive integration into the daily highs and lows of an individual. MINGS focuses on 'environology', the science of feng shui, which is a study that focuses on creating a balanced and harmonious relationship between man and the environment. They took a look back at the year 2015, where first off, the weather had topsy-turvy patterns. Hot seasons were cool, and cool seasons were hot; in fact, they predict that the dry period will spill over into 2016. They had also predicted that it would be a time of instability and fighting; Malaysians were battered from all sides with news (both local and foreign) of economic and geopolitical uncertainties. There were also a few outbreak cases of preventable diseases, notably dengue, ebola and MERS (Middle Eastern Respiratory Syndrome). "Come 2016, it will not be an easy year, for Malaysia and for the world. It marks the coming of the highly energetic monkey, bringing with it more uncertainty, but plenty of opportunities for the well-

Year 2016 Flying Stars and Yearly Afflictions Chart

Swing into 2016 with the monkey

As we enter the year of the Fire Monkey in 2016, it's a good idea to be aware of the challenges ahead and take advantage of any opportunities that will be ripe for the pickings!

Direction / Location

Annual Star

Description

Forecast

Southeast

1 White

Good for reputation, recognition and advancement.

Those who are involved in scholarly pursuits, related to philosophy, literary arts or research, will benefit from the energy of this sector. While boosting one's career success, it also enhances his or her wealth, reputation and social network. Although it does favour romantic pursuits, one should still watch out for possible emotional turbulences.

East

9 Purple

Happy events and promotion.

As the second Wealth sector of 2016, this sector enhances one's income, especially where long-term or permanent jobs are concerned. Regular usage of this sector will manifest positive outcomes for one's investment, status and recognition, thus bringing about promotions and new prospects. Additionally, this sector also ensures favourable outcomes for those who are getting married or starting a family.

Northeast

5 Yellow

Danger, problems, setback, calamities.

This is the most inauspicious sector for the year, which will bring about accidents, misfortunes and injuries. Refrain from undertaking renovation or groundbreaking activities at this sector at all costs.

North

7 Red

Rivalry, robbery, loss of wealth.

Avoid using this sector as it is likely to bring about emotional turbulences and conflicts. If provoked, the energy of this sector will manifest health complications for the occupants, while evoking disagreements with one's significant others. A Main Door located at this sector would imply the high likelihood of break-ins. In relation to career, one will need to overcome the challenges that come from office politics and malevolent competitions at work.

Northwest

3 Jade

Arguments, gossip, stress.

As this sector is likely to bring about conflicts and arguments, it is also unwise to use this sector in 2016. To a worse extent, the 3 Jade star is likely to bring about legal issues and lawsuits as well. In this respect, it is important for you to leave this sector untouched and inactive for the year.

West

4 Green

Romance and scholarly pursuits.

This sector favours those who are pursuing their academic endeavours and those who are involved in the creative and literary fields. One's travelling luck is also positively enhanced under the influence of this sector, in addition to te positive outlooks for couples in their relationships.

Southwest

8 White

Wealth and finance.

As the main Wealth sector of the year, frequent usage of this area will manifest prosperity and success for the occupants of the property. A Main Door located in this sector denotes strong financial returns from investments, besides the alleviation of one's reputation and career.

South

6 White

Authority, power, reputation.

The energy of this sector will manifest positive outcomes and rewards for your hard work, thus enhancing the possibility of promotions and salary increments. Additionally, one's social and networking skills will be enhanced under the influence of the 6 White star, thus expanding his or her social sphere and influence at work. Nevertheless, do ensure that this sector is not activated by negative provocations as this would evoke severely undesirable results.

Source: joeyyap.com

prepared. With perseverance, hard work and careful planning, we can prevail and emerge as champions, as we always do," enthused MINGS founder and honorary life president Koh. His words were echoed by Professor Joe Choo, who used the world hexagram to show that there will be a lot of 'noise' symbolising events that will scare people in the new year, but no real danger and everything will resume normalcy in due time. One such example would be the falling currency values and unstable markets, but those will slowly start to recover. She also predicted that the news headlines in 2016 will predominantly feature countries like China, Japan, United States of America and the Philippines. This will take place as the events in the East continue to unfold. China has been contesting disputed islands with the Philippines, Japan, Vietnam and Korea for years. In 2015, it has taken unprecedented steps to stamp its authority by reclaiming land on these islands to build a base for military and commercial activity, and by repelling approaching vessels from other nations. China is also in the midst of mooting an alternative international development bank to the famous World Bank and International Monetary Fund (IMF), which can dramatically swing the balance of power and influence away from the West. "Thus we expect more friction and tension amongst China, Japan, North and South Korea as well as the United States over the disputed islands. The United States and Japan may also engage China to derail its lofty financial plans," said MINGS president Choo. Over on the world economy side, Malaysia is categorised in the Southeast sector alongside other countries such as Australia, Indonesia, New Zealand and Singapore. This sector is by far, the best sector for 2016. This is due to a favourable combination between the Wood (representing scholars and business) and Water (representing happiness, fame and wealth) elements present. Beginning in Month 1 itself, it is predicted that there will be a financial upswing which means good times in Southeast Asia during the Lunar New Year. The economy will also be doing well in Months 3, 5, 10 and 12. However, Month 4 will see financial conflicts and a short dip in

STARPROPERTY.MY WEDNESDAY 3 February 2016

03COVER STORY

Chart 1- BaZi chart for the year of the Fire Monkey 2016

Source: joeyyap.com

the economy. Lawsuits will take prominence in Month 8. Disease outbreaks will occur in Months 6 and 9, with a high likelihood of fatalities in Month 9. Despite all of this doom and gloom, overall, the Southeast is still the best sector for this year. The 2016 hexagram for Malaysia is IOO.IOO - Zhen, which means 'thunder'. With the top and bottom trigrams identical, it indicates a loud noise, excitation, division and revolution. This hexagram implies that 2016 will be the year where Malaysians will have to deal with the aftermath of events that occurred in 2015. Some of these events include the deterioration of the ringgit's value, the GST (Goods and Services Tax) increasing cost of living, the slump in global oil prices which is affecting the nation's reserves while petrol prices remain relatively high, and growing activism alongside street protests with the polarisation of races. Based on the hexagram, the Southwest will benefit when it is righteous, but the Northeast will not gain because the road is a dead-end. When changes occur, one must always be in the right place - otherwise, it will not be beneficial. Interestingly, the main beneficiary for the Southwest sector in 2016 is the state of Johor, which is seeing rapid development in the Iskandar Malaysia project. (Read pages 12, 14, 15)

Empowered through feng shui and astrology

The celebrated and global bestselling author, consultant and educator of Chinese Metaphysics and Astrology, Datuk Joey Yap, has put in some of his advice for 2016 as well. He stated that people should focus on current trends and build a macro picture of the outcomes in all spheres in life to cater to the endless possibilities which will confront them in 2016. "Regarding the aspects of business and career outlook, wealth opportunities, personal well-being as well as relationships with others, 2016 will be a better year for those born in the years of the Ox, Rat and Snake. According to my calculations, there will be financial opportunities coming from real estate and property investments, so I would encourage people to opt for longer term investments in order to reap better returns. "In this regard, I also note that the Qi flow of 2016 favours properties that are located in the areas of East, South, Southeast and Southwest in relation to the city of Kuala Lumpur," explained Mastery Academy of Chinese Metaphysics founder Yap. Based on the BaZi chart provided by Yap (Chart 1), here are some analysis and key observations for the year 2016: 1) The Bing Chen Day Pillar is associated with a rising sun. This Day Pillar represents a lot of new business venture opportunities. This is particularly apparent in the Fire industry such as energy, oil and gas, telecommunications, food and hospitality, pharmaceutical and aviation. 2) The Shen (Monkey) in the Year Pillar forms a half combination with the Chen (Dragon) in the Day Pillar. This combination belongs to the Water element which represents influence. This denotes a stronger impact in regards to economic influence. 3) Another half combination is also formed between the Shen (Monkey) and You (Rooster) in the Hour Pillar, which belongs to the Metal element. This represents an increase in wealth, power and influence. 4) Likewise, another combination is formed between Yin (Tiger) in the Month Pillar and the Chen (Dragon) in the Day Pillar. This combination belongs to the Wood element which represents growth and resources. A high number of combinations in the Chart denotes that there will be a lot of merges and acquisitions,

1 MINGS founder and honorary life president Professor Master David Koh. 2 MINGS president Professor Joe Choo. 3 Mastery Academy of Chinese Metaphysics founder Datuk Joey Yap.

particularly in the financial sector happening this year. The Wood industries which represent the agricultural, commodities, timber and educational sectors will come under regulatory and legal pressure from lawsuits. The wealth outlook for Wood industries is deemed bearish. This is due to the poor performances and water-related issues in these sectors. The property, insurance and construction sectors which consists of the Earth element industries have a strong wealth element, but it is predicted that it will also be the weakest for 2016. This would indicate that these sectors may have robust earnings but are not able to take full advantage of its annual financial prospects, therefore causing a slowdown. This could be a result of the lack of the right products or opportunities to tap into. It would spell good news for the consumer market though, as homebuyers will be able to pick their dream home at the right location for the right price. The Fire-related sectors such as aviation, energy, food and hospitality, oil and gas, pharmaceuticals and telecommunications will overcome a competitive environment. Due to the clash of the Wood (Resource element) and the Wealth element, these sectors will potentially have difficulties in raising fund and maintaining their share values. This is a result of cash flow issues. The strong Water element in 2016 also implies regulatory threats or governmental pressure. Therefore, the outlooks for these sectors are deemed bearish. The logistics and transportation, beverages, aquatics, service-based and tourism businesses which make up the Water industries will face strong competition from their counterparts. This would most likely be a healthy competition driven by financial opportunities. The challenge lies in coming up with a practical business model. The Metal industries such as the finance and banking, automobiles and manufacturing sectors will gain opportunities in the midst of competition or collaborations. Larger corporations will be acquiring better deals despite the tough competition while agile players will be aiming for long-term or fixed margin deals. Yap also had these words of wisdom for those looking to invest in 2016, "Ding You in the Hour Pillar signifies investment opportunities. The property sectors which is represented by the Earth element has a strong Wealth element. This would indicate that these sectors may have the prospects of robust earnings. "Investors should look for properties with strong brand names or have a flawless reputation, which will allow them to prosper this year. Additionally, we can foresee many companies diversifying or seeking for opportunities to invest in Water-centric businesses. An example of such businesses would be the current trend of vape liquid."

STARPROPERTY.MY WEDNESDAY 3 February 2016

FEATURED DEVELOPMENT

De Centrum City champions holistic living Protasco Bhd sets benchmark in new urbanism concept. By ANGIE NG

angie@thestar.com.my

ASED on the “new urbanism” concept that promotes a vehicle-free community with daily amenities and necessities located within easy accessibility and walking distance, the De Centrum City development by Protasco Bhd aims to set a new benchmark in urban living for Kuala Lumpur folks. The 100-acre self-contained township in Kajang will be developed over 12 phases with 1,400 residential units and a commercial hub that showcases a shopping mall, retail shops, offices, a sports centre, a luxury hotel and a convention centre. It will spread over 15 years and will provide a total gross development value of RM10bil. According to Protasco managing director of property and infrastructure Datuk Kenny Chong, the developer has a vested interest to see to it that De Centrum City will be a success story over the mid- to long-term period. “The land for De Centrum City was acquired 15 years ago so we do not have to worry about achieving unrealistic targets to meet bank loan commitments like some other developers. As such, we can focus more on delivering premium and value-add products for our buyers,” he said. Given its strategic location, he said De Centrum City is touted to be the upcoming economic catalyst of Kuala Lumpur South and is strategically central to many of the city’s key developments. “The township is designed to deliver high quality living standards

and working environments where modernity and nature harmonise to create a lifestyle that is complete and balanced, peaceful and alive, where modern comforts meet nature’s abundant goodness,” Chong revealed. De Centrum City personifies a people-friendly development that incorporates green ideas, sustainability, easy accessibility, communal living and engaging healthy lifestyles. A Sky Linear Garden forms an artery of green throughout the city where walking and cycling is not only encouraged but is intended to be part of the living space with beautiful landscapes along the way. The township integrates urban form and nature, with the waterfront, a man-made lake, and the central park adding space for outdoor activity by the local community for holistic and healthy living. To promote a healthy and vibrant lifestyle, there are greenbelts, sheltered walkways and water parks that are within easy accessibility to encourage walking and cycling within the township. One of the main unique selling propositions of the township is that it sits in the middle of an education hub which makes academia as the nucleus of the township. The Infrastructure University of Kuala Lumpur (IUKL) campus is located centrally in the township, while University Putra Malaysia and the other institutions of higher learning are also located within the same corridor.

1 Main entrance with view of "floating" gym. Entrance is flanked by mist forest on both sides. 2 Grand drop-off foyer with concealed lighting that simulates a galaxy of stars. 3 The “floating” R Deck integrates most of the resident amenities, including a doubleheight glass-enclosed gym overlooking the pool surrounded by cabanas. 4 Gazebo in the Escape Forest, a natural habitat adjacent to the condominium towers, which is exclusive for residents’ use.

5 Overview of De Centrum City township where Rimbawan Residences is an integral component. 6 Mist Forest is a unique park cooled by water mists emitted from hidden nozzles among the trees, creating an enchanting “autumn” feel. 7 Protasco Bhd managing director of property and infrastructure Datuk Kenny Chong.

Growth potential

“We have envisioned that a knowledge community will grow and evolve from the township. With education at its heart, the growth potential of De Centrum City will come naturally with the influx of students and academicians. This will give rise to a need for housing, supportive businesses, services and conveniences for the growing population. Thus, as the expansion continues, a selfsustaining symbiotic township will evolve and become sustainable on

its own,” Chong added. The first phase of De Centrum City was launched in 2013 comprising a shopping centre, 320 service apartments, 192 SoHo units and 60 retail shops. All the units under phase one had been sold and handed over to their purchasers. At present, completed structures on the land include: residential units, SoHo units, Gallerie @ De Centrum shopping centre, shoplots, De Centrum Unipark condominium (Blocks A & B) Infrastructure University Kuala Lumpur buildings and campus, and the De Centrum City sales gallery.

Phase 2A comprising the De Centrum Unipark project was launched in 2014 and is expected to be completed by this December. Most of the units had also been sold.

Rimbawan Residences

Coming up soon will be Rimbawan Residences (under phase 2B) that is tentatively scheduled for completion around end-2018. Planned along the “urban forest” concept with unique features like a Mist Forest and Escape Forest, four tower blocks

and 13 exclusive villa units are expected to be built on 7.4 acres of freehold land. The tower blocks should be able to yield 504 condominium units ranging in size from approximately 872 sq ft to 1,332 sq ft. The 13 villas will each have built-up areas of around 3,590 sq ft. Although located within the condominium premises, these villas will offer the luxury of space of double-storey bungalow units with its own plunge pools, garden, private garage and lanais. Other upcoming launches will include office towers, a hotel, sports complex, service apartments and more retail units, among others.

Strategic location

Given its strategic location, he said De Centrum City is touted to be the upcoming economic catalyst of Kuala Lumpur South and is strategically central to many of the city’s key developments. Located mid-way between Kuala Lumpur city centre and the Kuala Lumpur International Airport, De Centrum City is about 15 minutes to Putrajaya and Kajang, and about three minutes away from the Kajang Exit of the North-South Expressway.

Wednesday 3 February 2016

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STARPROPERTY.MY WEDNESDAY 3 February 2016

FEATURED DEVELOPMENT

Matrix development soars in peaceful Kluang A balance of abundance in nature and affordably priced homes makes Bandar Seri Impian a choice for the future planner. By Viknesh Ashley

vikneshashley@thestar.com.my

andar Seri Impian is a successful flagship project by Matrix Concepts Holdings Bhd that currently has over 15,000 completed and sold residential and commercial properties, with a gross development value of RM1.3bil. The township is popular amongst property purchasers as it offers serenity, tranquility, natural surroundings as well as modern city living. The township is an established metropolitan township within the vicinity of Kluang, embracing the lush greenery and nature of its surroundings. Bandar Seri Impian is well-planned, eliminating traffic problems that are commonly faced by large townships, enjoying an ever-increasing popularity by home buyers. The township is a freehold expanse offering a mix of residential and commercial property, some of which are completed, while others are under construction. The residential component of Bandar Seri Impian consists of ten neighborhoods: Impiana Garden/Modena, Impiana Villa, Impiana Casa 1, Impiana Casa 2, Impiana Kopketa, Impiana Heights, Impiana Bayu 1, Impiana Bayu 2, Phase 1 and Phase 2, whilst the commercial component of the township consists of Impiana Avenue and Impiana Square. It also hosts shopping complexes and shops for residents’ convenience. Bandar Seri Impian offers a myriad of choices to homebuyers, ranging from single-storey terraces to majestic double-storey bungalows. The homes here are designed with three to five bedrooms, as well as two to four bathrooms, and are reasonably priced. The most exclusive parcels of the township are the Palazzo bungalows and Vistania semi-detached homes. These properties provide the best combination of low-density homes and large layout, but are the most expensive of all offerings within the township. Built to be self-sufficient as it matures, the township is highly desirable to planners of the future. The current offerings of the Bandar Seri Impian township are Euphoria and Euphony, two-storey link homes placed within Impiana Bayu 2. The new homes offered within this parcel differ from the rest, as all homes here are built with a prestigious yet contemporary design, thoughtfully crafted as such to enhance living. The homes are also coupled with quality finishes and elegant layouts that are carefully conceived to blend harmoniously with the contour of the freehold land where the homes will soon stand. Euphoria will be offered in built-ups starting from 2,093 sq ft and will hold four bedrooms and three bathrooms a unit, while Euphony is larger, offering built-ups from 2,500 sq ft while each unit will contain four bedrooms as well as four bathrooms. Bandar Seri Impian is well-planned as it holds a variety of

Actual photo

shopping malls, transportation hubs, government and private institutions, mosque, religious school and healthcare centres. The developer also provides idyllic landscaped lake as well as town parks with cycling and jogging paths, exercise stations, gazebos to relax and children’s playgrounds. A popular tourist attraction that is near the Bandar Seri Impian township is Gunung Lambak, a recreational reserve forest, 510m above sea level. This forest is a short distance away from Bandar Seri Impian and is within close proximity to the Kluang City Centre, embracing the undulating curves of Gunung Lambak. The natural surroundings of this locale provide a breezy and cooling atmosphere throughout the entire township. The township is also safe as all residential areas are gated and guarded, and are equipped with 24-hour security service, providing residents with a most persuasive service with regards to safety. Bandar Seri Impian is a self-sustaining community, therefore residents can be rest assured that they will be taken care of here.

The lifestyle that this township offers is having the advantage of enjoying soothing, gentle breeze as well as the open arms of loved ones awaiting for one to come home. Adding to that the township also offers the grandeur of a modern lifestyle within the lushness of Mother Nature. The contemporary designs of the homes in Bandar Seri Impian are carefully conceived to blend harmoniously with the contour of the freehold land available here. The modern lifestyle offered within the township is further enhanced with the provision of ample public facilities and amenities such as recreational spaces as well as a police station. The Kluang township is easily accessible via the existing Jalan Kluang – Bandar Tenggara, and is well connected to the KluangPasir Gudang Expressway via strategic interchange and exit points within. Bandar Seri Impian will also welcome new links to Iskandar and the Pasir Gudang interchange that will be located near to Impiana Square. Adding to that the main roads along Jalan Kota Tinggi have been expanded from two lanes to four lanes which eases the traffic flow in an out of the township. Matrix Concepts has been involved in township development since 1996 and is currently developing their second township project dubbed Bandar Sri Sendayan in Seremban. Bandar Seri Impian homes are well taken up as this township holds much potential for growth. In the near future, the commercial area of the township is expected to boom as well. Home buyers looking for a permanent residence and are working in the surrounding area should take a look at the homes offered in Bandar Seri Impian as they are well designed and well suited for family living. For more information, please visit www.seriimpian.com.my, or contact 07-7742688.

Wednesday 3 February 2016

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STARPROPERTY.MY WEDNESDAY 3 February 2016

FEATURED DEVELOPMENT

Seremban 2 emerges as gateway to Greater Klang Valley Township spruces up with more exclusive housing enclaves.

By ANGIE NG

1 Chap Goh Mei @ Seremban 2 Celebration 2015.

angie@thestar.com.my

EREMBAN 2, IJM Land Bhd’s fast developing township in Negeri Sembilan, has all the hallmarks of a well-planned and thriving self-contained township complete with a host of urban amenities. Sitting on 3,800 acres of former rubber estate land, development kicked off in 1995 as part of the masterplan to accommodate the extension of Seremban town, given its close proximity of just 10 minutes' drive away to the old town. Today, the thriving township is 70% developed and is home to more than 60,000 residents. IJM Land has delivered in excess of 12,500 houses and commercial properties valued at RM4.7bil. Seremban 2 has emerged as one of the most progressive and successful developments in Negeri Sembilan and it is certainly living up to its image as the gateway to the Greater Klang Valley under the Government’s National Structure Plan that also include Port Dickson, Nilai and Labu. The RM8bil development over 38 phases offers a wide range of well-planned housing enclaves ranging from affordable apartments, terrace houses, super linked and semi detached houses to exclusive gated bungalows. The commercial elements comprise of industrial, retail space, restaurants, office buildings, hotels, hospitals and shopping malls. Seremban 2 is also home to the state government and local authorities. Coming up next will be 182 Rimbun Irama double-storey terrace houses with built-up of 2,200 sq ft that are priced from RM500,000. There will also be 208 Kalista 2 apartments with built-up of 926 sq ft to 1561 sq ft priced from RM320,000. According to IJM Land senior general manager (Central Region) Hoo Kim See, the integrated township is thriving and ever-growing with a holistic masterplan that promotes sustainable living for the residents, business operators and the public. There are now 38 residential enclaves, seven public schools and two colleges, business parks and a modern shopping centre comprising AEON Complex with gross built up of 675,000 sq ft and the 950,000 sq ft Mydin Mall.

Thriving community

The community facilities include a 15acre City Lake Park with four acres of lake for family recreation, 34-acre sports complex, 30-acre Adventure Hill Park located 400 feet above sea level offering panoramic view of Seremban 2 and its surrounding greenery, and the newly opened S2 Club, a family-themed recreational club with well-equipped gymnasium, fitness classes, badminton courts, swimming pool and a purpose built kindergarten, managed by R.E.A.L Education Group. “Our vision is to build a fully integrated and sustainable township where the community can be schooled, entertained, work and live here as a big community. Seremban 2 offers modern amenities and conveniences

2 Kalista 2 Executive Apartment with condominium facilities. 3 SK Seremban 2A, one of the seven public schools in Seremban 2. 4 30-acre Adventure Hill Park @ S2 Heights. 5 675,000 sq ft Aeon Shopping Mall Complex in Seremban 2.

of a city while maintaining the grace and serenity of a country atmosphere. The township's tagline is Stay in Seremban 2, Work in Klang Valley,” Hoo explained. Building a township is just half the work done, bringing life and fostering a strong community is the other. Seremban 2’s commitment to bring social and community development can be seen by the numerous activities that it had developed and organised for its residents, from annual carnivals to health talks, and from Chap Goh Mei celebration to lantern festival walkabouts. Seremban 2 is also well regarded for its good accessibility and road connectivity. Accessibility into and within Seremban 2 is served by a 6-lane dual

carriageway that branches out into a network of well maintained roads providing scenic access to the various parts of the township. The five key access points to the township provide for quick and smooth traffic flow and to cater to a growing population and traffic, complemented by a comprehensive network of roads, interchanges and underpass for easy and seamless connectivity within the township for now and into the future. The main arterial road system is designed in a loop to carry high traffic volume and to provide easy connectivity to all parts of the development parcels. To ensure a smooth travelling within the township, the distance from

northern to southern of the township and from eastern to western are approximately 3.5km respectively. Strategically located just a kilometer from the Seremban toll plaza and four kilometers from Seremban town, accessibility to the township is via the North-South Highway, ELITE and LEKAS highways that have brought Seremban 2 closer to key locations such as Kuala Lumpur City Centre (45 minutes), Kuala Lumpur International Airport (30 minutes), Putrajaya and Cyberjaya (30 minutes). Given its precision and holistic approach to the development of Seremban 2, property buyers can look forward to more interesting product offerings from IJM Land going forward.

Wednesday 3 February 2016

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STARPROPERTY.MY WEDNESDAY 3 February 2016

FEATURED DEVELOPMENT

I-Berhad’s global community I-Berhad is at the global stage on home ground, bringing together the best global partners to its developments.

By Mak Kum Shi

makks@thestar.com.my

t takes boldness and courage to conceptualise out-of-thisworld developments that are either futuristic or of imperial elegance. It is equally admirable for such developments to be recognised as international references for digital communities, tourism destinations, or real estate developments. Such developments are 8Kia Peng and i-City, which are developed by I-Berhad, a public company listed on the Main Market of Bursa Malaysia Securities Berhad. It is principally involved in property development, property investment, leisure and REITS. The 442 luxury residences, 50-storey 8Kia Peng tower freehold development, is dubbed the ‘King of the Hill’, due to it being located on high terrain with a rich historical and imperial heritage. Inspired by the rich heritage of Jalan Kia Peng, which was named after China’s First Emperor of the Ming Dynasty Zhu Yang Zhang’s clansman Choo Kia Peng, and included the homes of Malaysia’s elites such as Malaysia’s founding father Tunku Abdul Rahman and I-Berhad executive chairman Tan Sri Lim Kim Hong, the 8Kia Peng development is the latest residence to grace this prominent and high-class neighbourhood. Befitting a neighbourhood with majestic landmarks such as the Philippines, Singapore, and Japanese embassies, and Johore, Kelantan and Terengganu Istanas, the luxurious 8Kia Peng development, which retains the dignity, charm, and grandeur of its predecessors, allows the deserving few of high status to wake up at the top of the world, command the high grounds, and feel like a monarch over the development’s surroundings. 80% of the units have direct views of the Petronas Twin Towers and Kuala Lumpur City Centre central park. Aside from the King of the Hill 8Kia Peng development, I-Berhad’s 72-acre freehold i-City development is recognised on several fronts, with the ultrapolis being a world reference site for Cisco’s Smart+Connected Community (CSCC), a tourism destination that is endorsed by the Ministry of Tourism and Culture, and a MSC Malaysia Cybercentre certified development. i-City is conferred an international park by the Selangor state government, that enables it to operate as a cosmopolitan lifestyle hub. The integrated development brings together hospitality, retail, office, data centres, residential, leisure and entertainment elements together. Some of the characteristics that makes this a

1 Zhu Yang Zhang, 1st Emperor of Ming Dynasty, China (a clansman of Choo Kia Peng, which Jalan Kia Peng takes its name. This is the address where 8Kia Peng is located). 2 King of The Hill 8Kia Peng is a high end development in the city by the master developer of I-City. 3 King of the Hill 8Kia Peng is located within the Golden Triangle in Zone 1 of KLCC and is CONQUAScompliant.

global development include its international retail concept with its partnership with Central Pattana Group (CPN), Thailand’s largest retail developer for the Central Plaza Mall @ I-City, scheduled to open in Aug 2018. Additionally, the high street retail concept, by Henry Butcher Retail, replicates the main shopping streets of cities around the world, the international interior design concepts of its residences, international brand name hotels such as Hilton and Best Western, Grade A standards offices, a leisure park for the international tourist community, and a cyber-centre as the knowledge-hub gateway. Following recent and successful launches of Liberty and Parisien Towers, the Hyde Towers, located next to Central Plaza @ i-City and consisting of 571 fully fitted London interior design themed units, is launching end of this month. Hyde is 43-storey tower block with units ranging from 465 to 769 sq ft, with 1 and 2 bedrooms and a choice of standard and duplex layouts. Hyde is the only tower on this parcel to offer dual-key units. The dual-key layouts are limited and on selected floor only.

Hyde Towers features fully fitted London interior design themes. High street retail is located at the two lower levels.

Wednesday 3 February 2016

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STARPROPERTY.MY WEDNESDAY 3 February 2016

MAIN FEATURE

THE ONE-HOUR ECONOMIC ZONE FOR MALAYSIANS The southern and central economic zones that have been planned by the Federal and state governments, and supported by the private sector, will result in a Public-Private Partnership that will create a one-hour economic zone with the impending link of the high speed rail.

n an exclusive interview with StarProperty.my, Iskandar Waterfront Holdings group executive vice-chairman Tan Sri Lim Kang Hoo commented that Iskandar Malaysia and Bandar Malaysia complemented each other with the impending Kuala Lumpur – Singapore High Speed Rail. The high speed rail would result in a one-hour traveling time economic zone, resulting in a huge community that consists of the population of Singapore, Kuala Lumpur, Johor and its entire coastal area. As a long term development project that will spread over 20 to 25 years, this development is considered good planning for the future generation. The economic benefits of this development is expected to spill over to the people, entrepreneurs and professionals.

Major catalyst for Kuala Lumpur’s transformation

Lim shared that the government already has a master plan that has already been approved for Bandar Malaysia. The Iskandar Waterfront Holdings Sdn Bhd (IWH) and China Railway Engineering Corp (M) Sdn Bhd (CREC) consortium, which had succeeded in its bid to buy 60% equity interest in Bandar Malaysia Sdn Bhd, intends to upgrade the township that the government intends to build. IWH is a Public-Private Partnership (PPP) that was launched by Prime Minister Datuk Seri Najib Tun Razak and Johor ruler Sultan Ibrahim Ibni Almarhum Sultan Iskandar in 2012. Citing the experience of IWH and CREC as master developers, together with the government, they will put the development together. Lim stated their intention to bring foreign and local developers together to participate in the development. In addition to the importance of local participation, particular care would be given in the selection of the right developers with the experience to contribute to key components of the development. “We chose CREC as a partner because they have the expertise in building an integrated transportation hub. If you look at the 486-acre development, that is integrated with the MRT (Mass Rapid Transit), LRT (Light Rail Transit), high speed rail, double track rail and ERL (Express Rail Link), they know how to integrate everything into this place. They have the expertise,” Lim said. Lim added that new ideas, such as an underground city, are being introduced

Prominent developers with vested interests in Iskandar Waterfront development.

Iskandar Waterfront Holdings group executive vice-chairman Tan Sri Lim Kang Hoo.

Mak Kum Shi

makks@ thestar.com.my Mak Kum Shi is the content and consumer engagement manager for the property business unit of Star Media Group

because of the Malaysian weather, which is either too hot or too wet. Citing the Montreal underground city, which has been built over more than 60 years, the consortium is learning from their (Montreal city planners) experience. Lim said, “With the green field area, we should be able to implement a purpose built world class underground city from day one to future phases with all the components to become a commercial and tourist destination in Malaysia.”

Confidence in Iskandar Malaysia

Citing that the 4,300 acres of a waterfront city at Flagship A of Iskandar Malaysia that will take time to develop, Lim said that the developers, such as CapitaLand, Temasek, Hao Yuan, Tropicana, Brunsfield, Greenland, Walker Group and Country Garden, which are involved in the development, are looking at the long term over 10 to 15 years. Lim commented, “In my view, these are all world renowned developers. We don’t have to tell them when they have to launch, what they have to do, because they take a long term view. They have seen Shenzhen and Hong Kong. These are all big boys with deep pockets.” Lim added, “Together with the government, we are bringing in a lot of foreign direct investment in industries, and strategic partners who can interface and integrate with the waterfront city." Citing Country Garden as an

Landbank of Iskandar Waterfront Holdings

example, as the first developer for the Iskandar Waterfront development, they took the opportunity to develop a highrise lifestyle condominium development. After doing a market study, they had launched 9,000 units, and in spite of negative news in the market, have a takeup rate of over 60%. Lim cited, “If you look at the sales, 40% are from Singaporeans. They are buying them either as a second home or as an investment to lease out to people. For other types of buyers, we must consider the migration of industries to Iskandar Malaysia. Regardless of Singaporeans, foreigners, or Malaysians working in Singapore, they are now actually staying in Johor. These are the people who are picking up the properties.” Lim said, “Developers know when to

launch with a long term view. They know how to avoid a glut even though the land has been approved for development. Why are all the apartments being filled up? Why are the shop houses and terrace houses all being grabbed up? It is the people who have moved in to fill up all the gaps.” Lim concluded, “So we are now at a fresh beginning. With the effort of the government, together with us, the government has planned this economic corridor to attract people to do business here. The good news is that for the people who invest in property, you won’t have a crash like in 1997. People are well prepared and developers are well planned. They know what is a crisis. They won’t build like last time when nobody buys.”

Wednesday 3 February 2016

Starproperty.my

STARPROPERTY.MY WEDNESDAY 3 February 2016

MAIN FEATURE

Iskandar Malaysia sets benchmark for integrated development A Construction progress fast underway. LMOST 10 years since its establishment, the southern development corridor of Iskandar Malaysia in Johor is on course to become a vibrant metropolis of modern townships and regional hubs for international education, entertainment, leisure, industrial and manufacturing, ports and logistics, despite coming under headwinds from market uncertainties and the prevailing economic slowdown. Touted as the largest integrated development in Southeast Asia, encompassing an area of 2,217 sq km, Iskandar Malaysia stretches from Johor Bahru City to the adjoining towns of Pontian, Senai, Pasir Gudang and Johor’s new administrative centre, Kota Iskandar. Its development got underway in November 2006 with Iskandar Regional Development Authority (IRDA) being mandated to plan, promote and facilitate the development corridor. The Comprehensive Development Plan has five flagship zones with designated economic activities as the developmental focal points (Refer to map). Although the pace of development differs in the five flagship zones, construction is progressing well despite the momentum having slowed down because of the cautious economic situation. The total cumulative committed investments of close to RM190bil that Iskandar Malaysia has attracted as at November 2015 shows that the economic region has made quite a good headway in terms of opening up economic activities to spur growth and development in Johor. According to IRDA, the manufacturing sector registered the highest cumulative committed investments of RM52.1bil for electrical and electronics, petrochemical and oleochemical, and agro and food processing sectors, while logistics accounted for RM5.7bil, tourism RM3.1bil, healthcare RM2.77bil, education RM2.06bil, consulting services and financial advisory RM0.74bil, and creative industry RM560mil. The other sectors that support Iskandar Malaysia’s development include residential and industrial properties, retail, utilities, advanced technologies and government investments in infrastructure and public works. In property development, new areas such as Danga Bay Waterfront and Medini are seeing substantial development progress. Mega property players from China such as Country

is truly remarkable. The strategy of Garden that is undertaking Danga By catalytic projects such as the EduCity, Bay Country Garden and Forest City Marlborough College, The Medini projects, Guangzhou R&F (Puteri Cove), Commercial hub, the new Johor and Greenland Group (Jade Palace at angie@ thestar.com.my administration centre in Kota Iskandar, Danga Bay) are prominently showcasing Pinewood Studios, Legoland, Puteri their presence in Iskandar Malaysia. Angie Ng is the Harbour and the remaking of Danga Bay A new waterfront city in the content editor of StarProperty.my. has created a real estate frenzy never seen southern region of Johor Bahru, led by in Johor before. master developer, Iskandar Waterfront Labrooy pointed out an urgent need Holdings, which is a partnership between for the planners of Iskandar Malaysia state equity Kumpulan Prasarana Rakyat to allocate more land and build the Johor and businessman Tan Sri Lim Kang Hoo, will involve some 4,300 acres along the waterfront stretch facing the Straits of Johor. It is to be undertaken in phases over a period of 25 years and will Development Plan feature iconic buildings, commercial and financial centres, shopping malls and tourist attractions. Without a doubt, the highly anticipated high-speed rail (HSR) project from Kuala Lumpur to Singapore, that is to commence service around 2020 to 2022, will potentially spawn many new economic, social and cultural benefits to Iskandar Malaysia and the other corridors served by the rail line. Phase 1 of the HSR will connect Kuala Lumpur to Singapore in just 90 minutes (from about four hours by car now), via Seremban, Ayer Keroh, Muar, Batu Pahat and Iskandar Malaysia, with future plans to extend the line up to Bangkok. Savills Malaysia deputy managing director Paul Khong said the boost from the HSR project to Iskandar Malaysia will be significant with manufacturers, land owners and developers Key economic drivers of Iskandar Malaysia with projects along the rail routes and the surrounding areas to benefit immensely from the infrastructure project. “Iskandar Malaysia will no doubt be a key beneficiary when the HSR commence service around 2020, as the economic corridor will be able to ride closely on the Singapore Factor by leveraging on the interface between Malaysia and Singapore,” he said. Datuk Stewart Labrooy, chairman of real estate private equity and industrial development fund AREA Management Sdn Bhd, said what has been achieved in Source: Iskandar Malaysia in the Iskandar Malaysia website current short timeframe

ANGIE NG

infrastructure to attract serious catalytic industries – the ones that need 50 to 100 acres and employ 2,000 to 5,000 workers and professionals. “This land should be kept for serious industries wanting to relocate to Johor. Our main customer is Singapore where many multinational corporations (MNCs) have their operations and make decisions for the region. We need to remember what made Shenzhen a success – it was Hong Kong. There is also a need

STARPROPERTY.MY WEDNESDAY 3 February 2016

for planned worker housing and related commercial developments to support it. “Iskandar has to start with a strong focus on manufacturing and its related services, just like Shenzhen did back in 1979. The infrastructure to support this should be a primary focus. Once the industrial boom takes shape in Iskandar, everything else will fall in place. It will attract a migrant professional population and a large workforce to Iskandar and with it demands for housing and commercial developments."

Rebranding Johor Bahru

Labrooy is of the opinion that the most immediate catalyst for Iskandar Malaysia is an industrial one, saying that out of the nine pillars of the Iskandar initiatives four are industrial – electrical and electronics, petrochemical and oleochemical, food and agro-based industries, and logistics and related services. “The approach has been very uneven and sometimes I think not given the priority it deserves. What we lack in Iskandar is an Industrial Master Plan with land allocated for planned industrial cities in the various flagship zones.” In the property front, Labrooy cautioned that the economic slowdown and soft buying sentiment will affect buying and investment sentiments in Iskandar Malaysia, with residential transactions having fallen by 45% from the second half of 2014 to the first half of 2015 while commercial transactions fell by 61%. “One can’t ignore the impact of the mega projects by the Chinese developers especially Country Garden’s audacious Forest City off the coast and close to the Singapore border. Whether it succeeds over time remains to be seen; after all, things can change in 20 years from now,” Labrooy added. DTZ Malaysia executive director Brian Koh said although things are slowing down due to the cautious economic situation, what is happening on the ground, including for proposed and completed projects, looks quite impressive. “Generally, IRDA and the other stakeholders have done a great job, although it is more successful in some areas than in others. In particular, residential property developments have been really successful, at least in terms of new investments, construction and sales across the various flagship zones. “The EduCity project has also attracted key operators and the various tourism projects have made south Johor a growing tourist destination,” he added. On the HSR project, Koh said while it has been viewed mainly from a Singapore-Kuala Lumpur perspective, Iskandar Malaysia will also benefit from the linkage, as it becomes more easily accessible from Kuala Lumpur and the rest of the country. He, however, cautioned that although in terms of physical development, there is strong progress with construction visible everywhere, this may not be matched by growth in new major job catalysts in the manufacturing or the services sector. KGV International Property Consultants (M) Sdn Bhd executive director Samuel Tan said while Iskandar Malaysia remains relevant with manufacturing as the powerhouse of the corridor, among the challenges it face for 2016 will be the need for new stimulants for sustainable growth in Iskandar Malaysia and to relocate 1 growth to the newer and cheaper areas. Johor attracted close to RM31bil in total investments in the first nine months of 2015, which represented 44.3% of Malaysia’s total cumulative investments, with the bulk of the investments for the manufacturing sector. This underlines the success of Iskandar Malaysia as a successful manufacturing hub, Tan said. Khong said Iskandar Malaysia still has a pull advantage in the industrial market 3 segment, given its natural location as the

15MAIN FEATURE Shenzhen of Singapore, lying just a short distance north to the city state. “Many of the relocation exercises of Singapore companies are still ongoing and Iskandar Malaysia will be a major beneficiary as new industrial and housing needs open up. The Pengerang Integrated Petroleum Complex in Pengerang will also create a major spillover effect to Iskandar Malaysia in terms of housing needs, retail spending and entertainment with many job opportunities being created,” Khong added. A silver lining from the foreign exchange factor is that the weak ringgit may attract more foreign buyers as property investments may still look attractive to them. Khong said Johor Bahru City Centre areas in Flagship A have shown substantial progress and are still growing as the city centre is still the heart and main business hub cum central business district of Johor, where businesses and banks are well focused and are based. “Danga Bay Waterfront is an entire new landscape added to Flagship A. Within the next few years, more projects are expected to complete here that will change the face of Johor Bahru City Centre and its waterfront locations. Many new areas including Danga Bay Waterfront and Medini are making substantial headway,” Khong said. The Medini-Nusajaya corridor @ Zone B has seen good growth in both the industrial and residential sectors due to its close proximity to the Second Link to Singapore and the North-South Expressway. “These are the preferred areas for new developments by MNCs and Singaporean companies residing and trading across the causeway. The key areas like AME, SILC, PTP and the Medini township have seen lots of demand and growth, and they are still performing relatively well, although things are at a much slower pace for now. “In Zone B, we now see the EduCity, Legoland, Tanjung Puteri, AFIAT Healthpark and Nusa Residences completing in stages and physically taking shape as per its original masterplan. “Zone C @ PTP Port is also doing well with many new take up seen. Being close to the port, the industrial properties are generally well tenanted too. We now see BMW Asia Technology Centre, DAMCO, DB Schenker, DHL, Nippon Express, Century Total logistics, Johor Port Logistics, Goodman, Axis REIT, Flextronics and JB Cocoa physically located there. “Zone E is still seeing movements into areas near Senai and the airport, with the main focus in local housing and industrial factories. Hershey, EQ Solar Technology International, STX Corp and MOX-Linde Gases are already seen completing their facilities in this area,” Khong pointed out. He said after the completion of the key physical infrastructure in Iskandar Malaysia, the main emphasis will shift to the soft infrastructure of attracting talents, environmental conservation and also social development activities.

1 Savills Malaysia deputy managing director Paul Khong. 2 AREA Management Sdn Bhd chairman Datuk Stewart Labrooy. 3 KGV International Property Consultants (M) Sdn Bhd executive director Samuel Tan. 4 DTZ Malaysia head of research and consultancy Brian Koh. 5 REI Group CEO Dr Daniele Gambero.

Silver lining amid the uncertainties REI Group CEO Dr Daniele Gambero said Iskandar Malaysia’s integrated development is one of the success models in the region and more developers are preparing launches of new townships for launch in 2016 and 2017. “As reflected in the committed investments that have reached more than RM187bil as at November 2015 and steady population growth in the region, everything is moving towards the set targets. “There are still a lot that need to be done in terms of education and per capita income even though Johor has recorded absolute higher growth in terms of national GDP contribution in the last four years,” Gambero noted. DTZ’s Koh observed that the new aggressive launches and marketing approach by some developers, notably from China, are unprecedented and this could be a potential trigger to an oversupply. “The risk has escalated over time given the statistics of pipeline supply. Besides oversupply risk, there is also credit risk (arising elsewhere at parent company level and home country conditions) that such projects may get into financial trouble in such time, and this could create more adverse spillover effects in the overall scheme of things,” Koh noted. The economic slowdown and soft buying sentiment have already impacted new sales since the past one to two years. Admitting that concerns of oversupply and property bubble in Iskandar Malaysia has cropped up since mid-2014 following massive launches of thousands of units at a time by the Chinese developers, Savills’ Khong said the market has taken its toll and sales numbers had taken a beating. “The economic slowdown will not spare Iskandar Malaysia. There have been a lot of condominium projects completed physically and many more will be completing in the next 12 to 18 months that will form the new Johor Bahru skyline. Many of these projects were launched in the past three to four years and are due for completion,” he observed. Khong said while property buyers will be extremely cautious and choosy in 2016, they still see the latent potential in Iskandar Malaysia and are shopping for the right products and timing to buy. New launches were been done at a much slower pace last year and are expected to continue this year as sales continue to trend slower. While developers will continue to launch their products this year, Khong said they have to be at more affordable price range in good locations and good amenities. Those located in close proximity to the new MRT stations to Singapore will be able to do well. “It is a buyer’s market and competition is stiff in both the primary and secondary markets. Developers need to adjust to the current market conditions and are trending carefully with their product types, planning and timing, pricing, marketing and also some re-packaging. Value for money, development theme and lifestyle, branding, convenience, amenities and location are now paramount factors to be considered,” Khong said. KGV’s Tan highlights a mismatch in terms of supply and demand of housing products, and said developers in Iskandar Malaysia will need to focus on more affordable landed residential properties priced below RM500,000 that are targeted at middle-income earners. “There is a high critical demand for houses that are priced between RM250,000 to RM500,000, which makes up easily 40% to 50% of the housing needs, primarily to cater to those with household monthly income of RM4,000 to RM5,000.” He said the hot spots for new launches for affordable houses are in the Tebrau, Kempas, Skudai, Tampoi, Kulai and Senai areas. Tan is of the opinion that the first-half of this year will not be an exciting period for developers and many will utilise the first six months to plan for their new launches and also to monitor the market situation. Gambero concurred with Tan, saying that there will be higher attention to meet demand for affordable houses compared to the past and developers will set out to build more affordable homes in the range of RM250 to RM600 per sq ft. “But we will still see a number of high-end projects launched in specific higher end areas. The high-end products sector is expected to make a come back in 2017-2018,” he added. Meanwhile, several industrial and logistics projects are now undergoing approval process and once they are approved, they will be able to spur the various sectors of the property market. Gambero said the HSR project will definitely contribute in raising demand for industrial and residential properties as it will ease the commute from Iskandar Malaysia to Singapore and vice-versa for both Singaporeans who would like to live in Malaysia and work in Singapore, and also for Malaysians who are currently working in Singapore and living in Malaysia. “The latest important projects have been Ascendas TechPark, Biocell Industrial Park in Pasir Gudang and the launch of Forest City as a future residential enclave designed to host mostly Singaporean citizens,” Gambero concluded.

STARPROPERTY.MY WEDNESDAY 3 February 2016

FEATURED DEVELOPMENT

THE GLADES - The Jewel of Putra Heights in subang jaya The Glades by Sime Darby Property presents inspiring homes with smart features and lush surrounding landscapes.

By Viknesh Ashley

vikneshashley@thestar.com.my

HE Glades in Putra Heights by Sime Darby Property Berhad presents an open-concept living within an all-natural park atmosphere. The guarded residential enclave neighbours popular areas such as USJ, One City, Sunway, Puchong, Cyberjaya and Putrajaya. The township is targeted at the Malaysian elite with its array of condominiums, townhouses, terrace homes, cluster villas and bungalows. There are 80 units of three-storey bungalows in The Residences series, with built-up starting from 6,543 sq ft. These bungalows within The Glades enclave are equipped with a private swimming pool, open roof-top terrace, private elevator and en-suite bathrooms. Coming up next is the Encore cluster villas, two and two-and-a-half-storey semidetached residential parcel within The Glades. There are a total of 48 majestic villas with built-ups from 4,930 sq ft. Garden hobbyists would love these units as each of the homes come equipped with a private garden. The Mews is another popular offering of The Glades, being the most affordable amongst all the landed homes offered within the township. There are a total of 78 units of one and two-and-a-half-storey townhouses that have built-up from 3,208 sq ft. Additionally, this township also offers 56 units of three and three-and-a-half-storey superlink terraces dubbed the Ensemble, sized from 4,435 sq ft, where some units enjoy detached pavilions while others enjoy a water feature in the courtyard.

1 The Glades by Sime Darby Property is the epitome of tranquility and has driven many elite property buyers into the township.

The Glades will soon see a condominium parcel called North Brooke which will be complemented by beautiful surroundings and amenities at The Glades.

2 The waterways intertwine with the parkland and the unique homes offered at The Glades.

Facility-rich enclave

Residents can be assured of a strong sense of security as the neighborhood boasts a 24-hour security system powered by guard patrol, visitor management system as well as CCTV surveillance. The Glades is also equipped with fiberoptics for the convenience of residents, community portal and management services, as well as Wi-Fi access in the common areas. A residents-only clubhouse situated within the township hosts an array of sports and recreational facilities. The clubhouse sits next to the waterways which forms the heart of this development. This waterway was specially designed with a bio-filtration system to achieve a self-sustainable water body over time. Within The Glades, parks are viewed as an extension from the internal space to the outdoors. Residents can enjoy the park that can be used for many activities - walking through shaded areas, running adjacent to a stream and finding shade under a tree for a relaxing nap. The Glades is also integrated with stateof-the-art green features. Some of these green features include rainwater harvesting, double volume tinted windows to allow maximum natural lighting into each household, energy saving LED street lighting, a recycling depot

3 Large windows help create an open-ended interior maximising space and natural lighting. 4 One can expect luxury in many aspects as seen in the bedroom that is spatially luxurious. 2

as well as a centralised waste management system. The waste management system will transport the garbage from residents' homes directly to the recycling depot. This means there will no longer be a need for a garbage truck to pick up garbage from house to house. Residents can shop at their very own

neighbourhood mall dubbed the Glades Plaza located just at its doorstep offering more conveniences to its residence. The township is easily accessible via major highways which include the Elite Highway, South Klang Valley Expressway (SKVE), Damansara-Puchong Highway (LDP), Kesas Highway and the Federal Highway.

Wednesday 3 February 2016

Starproperty.my

STARPROPERTY.MY WEDNESDAY 3 February 2016

FEATURED DEVELOPMENT

Be entralled by Bandar Rimbayu’s communal warmth and camaraderie Penduline series to embrace young prospective buyers. By ANGIE NG

angie@thestar.com.my

HOSE looking to bask in the camaraderie and warmth of community living within the conveniences of a well-planned township need look no further than Bandar Rimbayu in the bustling Kota Kemuning corridor. The 1,879 acre-township by IJM Land Bhd evokes the nostalgia of the good old days’ form of communal living when life was simple and people lived close to nature, in a safe and supportive neighbourhood. Designed to be IJM’s iconic township development with a balanced mix of residential, commercial and recreational components in the four precincts of Flora, Fauna, Bayu and the commercial hub, the township will be home to 10,000 households in exclusive housing enclaves from affordable housing to luxurious high-end residences. Since the first phase of Chimes houses was launched in 2013, 80% of the launched housing projects of about 1,450 units have been sold for a gross sales value of RM1.3bil. The Chimes (Phase 1) houses and Perennia (Phase 2) have been delivered to the buyers and about 60 families have moved in. IJM Land managing director Edward Chong said to address concerns of house buyers about the rising cost of living amid the economic slowdown, the developer has set out to do its part to contribute towards building more affordable houses. The upcoming launch of the Penduline series of double-storey terrace houses under phase seven are targeted at the young prospective buyers. “Often during an economic slowdown, prudent financial investment becomes the order of the day for the people despite the myriad of choices at their disposal. IJM Land is making a concerted effort to make a difference in the market with the Penduline double-storey link houses that are conceptualized to be practical and welcoming for the young prospective buyers. “This is the type of housing product that the market is looking for during such times of economic slowdown and uncertainties. With an outstanding value for money proposition, we are sure that Penduline homes will entice prospective buyers who are buying for their own stay or for investment. There has never been a better time for the young generation to buy as houses at this attractive price range is hard to come by nowadays,” Chong added. The Penduline double-storey terrace houses have land area of 20ft by 70ft and there are a few designs ranging from a gross built up area of 1,771 sq ft to 2,022 sq ft to choose from. The first phase of Penduline is targeted to be completed by the first quarter of 2018. Chong said the indicative selling price that start from RM644,800 is more affordable compared with other similar new launches in the Kota Kemuning area.

Best of aesthetics and functionality 2 1 Aerial view of Bandar Rimbayu shows the completed houses in Phase 1 and Phase 2. 2 IJM Land managing director Edward Chong. 3 Dedicated entrance and exit points for Penduline residents. 4 50 feet wide road between the houses ease the parking problems and it will be a breathtaking drive to go home. 5 The 5.7 acre central park is the meeting point of all residents and also encourage healthy lifestyle within the neighbourhood.

“These homes are designed with new young homeowners in mind. IJM Land is able to price the houses at this attractive price by going back to basic practical designs and by optimising on the buyers’ needs instead of wants. We also adopt iterative value engineering process without compromising on quality,” Chong explained. For aesthethics, all the rooms, living, dining and car porch areas will be fitted with 2 ft x2 ft porcelain tiles. Air-conditioning points will be provided in the bedrooms and living room. The bathrooms will have water heater points. The 625 double-storey link homes on 54.95 acres are built within an exclusive enclave with dedicated entrance and exit points. Chong said this will allow the residents, through their residents association (RA), to potentially turn the Penduline enclave into a gated and guarded community. IJM Land will chip in to construct a perimeter fencing and guardhouse subject to the formation of the RA and upon the approval of

the relevant authorities. Every home in Penduline will be equipped with fibre internet access point for high-speed virtual connectivity. The Penduline housing series that takes after the name of a small perching bird, is the first project in the township’s Fauna precinct. The enclave will be surrounded by luscious greens with 5.7 acres of central park with a neighborhood square, football lawn field, multipurpose court, futsal court, integrated playground, walkway-cum-jogging track and an outdoor gymnasium. In 2018, residents will be given the privilege to join Rimbayu Club Village, which will feature an Olympic-size swimming pool, badminton courts, squash courts, gymnasium, dance studio and karaoke room, among other facilities. The first phase of Penduline with 132 houses was opened to existing buyers and registrants during the preselection period. The second phase consisting of 114 units is now open for selection. Since registration started last October, a month before the unit pre-selection date, close to 1,600 registrations had been received. Buyers will be awarded with a free mini iPad 4 and a 3% cash rebate. Existing IJM Land property owners will receive another 1% rebate. Besides that, the cost of Sale and

Purchase Agreement, loan facilities and stamp duty on transfer will be borne by the developer. Chong said to encourage a closely-knit community, IJM Land has set up a mobile community application in collaboration with "Graaab" for residents of Bandar Rimbayu, whereby residents will receive an email invitation detailing sign up instructions. By simply downloading the Rimbayu Community application on a smart phone, residents will be able to keep up to date with community news at their fingertips. The application provides information such as important contact numbers, nearby service providers, upcoming community activities and Emergency Assist. "Graaab" is also rolling out Emergency Assist features which is an enhancement of present security in neighbourhood. As a responsible developer, IJM Land has agreed to sponsor one year subscription fees for their Phase 1 buyers. For more information on Graaab, log on to www.graaab.com. Showing that it cares for the welfare of the residents, IJM Land ensures that all the houses in Penduline have North-South layout orientation and have free flow of air and natural lighting. Meanwhile, its strategic location close to urban amenities such as shopping malls, educational institutions and the major highways including Lebuhraya Shah Alam (Kesas), Lebuhraya Kemuning – Shah Alam (LKSA), Expressway Lingkaran Tengah (Elite) and the South Klang Valley Expressway (SKVE), makes Bandar Rimbayu a convenient and easily accessible township.

Wednesday 3 February 2016

Starproperty.my

STARPROPERTY.MY WEDNESDAY 3 February 2016

INTERNATIONAL MARKETS

Global Property Market Outlook Slowing China economy and speed of further US interest rate rises will determine performance of global property markets.

Mak Kum Shi

makks@ thestar.com.my Mak Kum Shi is the content and consumer engagement manager for the property business unit of Star Media Group

“The results were a clear downward trend for emerging currencies and we continued to highlight emerging market currency weakness as a global phenomenon throughout 2015. The emerging market currencies that were the most heavily crushed during the year were those that belonged to economies dependent on commodity exports. – Jameel Ahmad

2015*

of 2015. They investment elsewhere.” expect this figure Colliers International head of UK to slip to 15 points research and forecasting Mark Charlton, in 2016 as price Colliers International senior research analyst growth converges. EMEA (Europe, Middle East and Africa) The pace of price and forecasting EMEA Bruno Berretta, and growth in Sydney is Colliers International director of UK research expected to slow from and forecasting Walter Boettcher cited in 15% year-on-year in 2015 Colliers International’s Global Investment to 10% in 2016. Australia’s Outlook (GIO) that investors, globally, still economic slowdown, weaker wish to invest in real estate. stock market performance in recent Transaction volumes across regions are months and the introduction of foreign expected to increase, with fewer investors investment fees explain the lower rate of expecting to be net buyers. Allocations to growth in 2016. direct property by multi-asset funds will Hong Kong is forecast to overtake continue to increase globally. Singapore as the weakest performing luxury The most liquid markets, found in residential market in 2016. A number of new gateway cities such as London, New York developments are due to enter the market and Tokyo, will continue to appeal to crossin 2016. This new supply, together with border investors. Increasingly, investors a strengthening HK dollar, will see prime are looking to partner with local expertise property prices soften. to provide greater confidence in overseas The price decline seen in Singapore’s diversification. prime residential market is expected to persist Macroeconomic and political threats, at least until the end of 2016, following the such as further interest rate hikes in the US, government’s assertion that it has no plans to or Chinese economic uncertainty, as well relax its property market cooling measures. as geopolitical risks, will see investors curb Ahmad commented that the major their risk appetite in some markets. More turning point for all the emerging currencies investment decisions will be made on a longwill in some ways be in response to higher term basis. Hence prices for matching assets interest rates from the United States. While will rise further, especially in safe haven falls in emerging market currencies were markets. due to external factors, such factors could They concluded, “While the next 12 transform into internal and domestic months will pose macro challenges for pressures, such as reduced spending power investors, the overall positive mood shown and reduced budgets that might lead to by most respondents offers a compelling case jobs being lost. The continued depression for supporting direct real estate investment’s in commodity markets is also going to limit continued growth.” potential for a recovery in fortunes. Ahmad said, “Slowing Annual prime city residential price growth (forecast) growth will continue to occur in China and will likely be a threat to India, although it is possible that the proactive easing of monetary policy from the Reserve Bank of India might encourage borrowing HONG KONG LONDON MIAMI MONACO NEW YORK domestically and help 1.5% 1.0% 4.0% 5.0% 5.0% GENEVA drive growth. It is worth -3.0% remembering that the central banks in China and India have been actively intervening to shore up their own economies through monetary easing. GENEVA LONDON MIAMI MONACO NEW YORK There will be some hope 0.0% 2.0% 2.0% 5.0% 5.0% that this could help drive industry growth. As HONG KONG -5.0% commodity importers, the Source: Knight Frank Research, Douglas Elliman/ Miller Samue lower import costs should *Estimate, **Forecast help create budget for

SHANGHAI 10.0%

SYDNEY 15.0% SINGAPORE -3.5%

PARIS

-5.0%

2016**

EVELOPMENTS in the global economy and currency markets will determine the performance of property markets across developed and emerging markets alike for 2016. FXTM chief market analyst Jameel Ahmad shared that year 2015 saw emerging currencies challenged by a resurgent US dollar rising alongside the US economic recovery. There were additional concerns over how a slowing China economy would impact general sentiment towards emerging markets. These developments added to challenges faced by emerging economies linked to commodities amid a global slowdown in oil and gold prices. Ahmad said, “The results were a clear downward trend for emerging currencies and we continued to highlight emerging market currency weakness as a global phenomenon throughout 2015. The emerging market currencies that were the most heavily crushed during the year were those that belonged to economies dependent on commodity exports.” Ahmad added that concerns surrounding the China economy entering a deep slowdown was another contributor behind losses in emerging market currencies. “A slowing down China economy was not a problem for China itself, but for all those economies reliant on trade with China.” Knight Frank global head of research Liam Bailey and Knight Frank international residential research Kate Everett-Allen shared that the scale of the slowdown in China and the speed of further US interest rate rises will determine the performance of property markets across developed and emerging markets alike over the next 12-18 months. They expect the strongest and weakest performing prime markets to be separated by around 20 percentage points by the end

2016

PARIS

-3.0%

SYDNEY 10.0%

SHANGHAI 4.0% SINGAPORE -3.3%

STARPROPERTY.MY WEDNESDAY 3 FEBUARY 2016

21FEATURED DEVELOPMENT

REITS and the Volatile Markets

Fear tends to manifest itself much more quickly than greed, so volatile markets tend to be on the downside. In up markets, volatility tends to gradually decline. -Philip Roth

Year-on-year, the gross rental income for M-REITs was mostly positive (2%-18%) and the sector’s 1H2015 core net profit grew 13% year-on-year, largely contributed by new assets (Axis REIT, MRCB Quill REIT) and organic growth via positive rental reversions (KLCCP, IGB REIT, Pavilion REIT). Acquisitions drive the growth of the REIT counters but this activity has been muted post-GST within 4Q 2015, MREITs saw only three asset acquisitions to date:

“I am optimistic that acquisition activity will pick up in 2016 as retail assets are trending closer to more realistic cap rate values of above 6.0% from 5.5%, while industrial cap rates are fetching better rates of 7%-8%.

Additionally, tenant retention would also be more competitive and multinational corporations (MNCs) are seen scaling back on expansion and holding back relocation

Some advice for volatile times

It is hard to come up with an investment in M-REITs but most analysts favour those REITs with strategically located prime

100 million sq ft of office space by end-2015

29.3 37.2 48.4

26.7 36.8 46.9

22.7 34.9 46.0

31.4 44.1

22.2

31.4 43.5

21.7

29.7 43.1

21.1

26.2 44.1

19.5

25.3 41.0

18.1

23.6 39.6 2010

17.7

22.2 38.9

2009

19.4

36.9

KL suburban KL city

2008

18.3 12.4

Selangor

36.6

100

16.2

Cumulative supply of office space in Greater KL

12.9

120

16.6 11.5

plans amidst the current challenging economic environment. So would uncertainty on US interest rates and the weakness of the ringgit affect M-REITs? Foreign holdings of the MGS were still high at 46% as reported in August 2105, (down from 48% in July-15); it usually ranges between 44%-49%. As foreigners have been selling heavily in the equities market since early May, the view is that this may have also cascaded into the local bond market in August when bond yields spiked. We also need to be aware of the narrowing yield gap between M-REITs and 10-year MGS. The 10-year MGS yield has been on the rise since Jan 2015 to 4.26% in November 2015 (highest at 4.45% in August 2015), triggered by foreign sell off

2017e

2016e

2015e

01 2015

2014

2013

2012

2011

0 2007

The market view is that re-pricing of M-REITs would take place in 1Q 2016 and could continue throughout the year given the continuing volatile yield environment, and that we can expect to see some room for re-rating from 1Q2016 onwards once uncertainty over the US Fed’s interest rate hike and the ringgit volatility subsides. However, strong domestic liquidity should provide support for M-REITs as M-REITs’ fundamentals are backed by steady organic earnings growth (positive rental reversions, space reconfiguration and stable occupancy rates) and healthy balance sheets of 0.14 times to 0.44 times gearing ratio. REITs’ good valuation buffers could cushion the impact of a sudden surge in bond yields. I am optimistic that acquisition activity will pick up in 2016 as retail assets are trending closer to more realistic cap rate values of above 6.0% from 5.5%, while industrial cap rates are fetching better rates of 7%-8%. With tightening liquidity, it is likely that sellers will be offering more realistic pricing to see an asset disposal going through as they try to de-gear their balance sheets. The key to investing in M-REITs are the earnings stability but we need to aware of the challenges or concerns ahead for M-REITs The key indicators investors have to be aware of are as follows: A volatile bond market continuing into 1Q 2016: Investors may want to wait for the bond market volatility to settle down

36.6

The outlook for MREITs in 2016

2006

The asset acquisition environment is slightly behind 2014 in terms of numbers of assets; 2014 saw six acquisitions, two from Sunway REIT and four from Axis REIT versus three assets in 2015. However, the total value of the assets acquired was higher in 2015 at RM1.1bil versus RM568mil in 2014.

of domestic bonds due to the weakening ringgit (approx. -20% YTD) and crude oil price (approx. -10.0% YTD). This has affected the appeal of the M-REIT sector and led to a sell-down in M-REITs. As of 3Q2014, the average yield of M-REITs is 6.1%, or +185bps above the 10-year MGS yield of 4.24%. Unit prices of M-REITs have remained flat on average. Further risks from external events could be triggered by the following: (i) worse-than-expected consumer spending post-GST implementation (ii) cost-push factors that may result in weak rental reversions (iii) the US Fed increasing interest rates in a more aggressive than expected manner (iv) further decline in oil prices and weakening ringgit, which may put increased pressure on the 10-year MGS.

15.3 10.9

Datuk Stewart LaBrooy is the former chairman of Malaysian REIT Managers Association.

i.e. for the 10-year MGS to be closer to the 4.00% mark (highest at 4.45% in August 2015) before positioning to accumulate M-REITs. Consumer sentiment: The market has factored in the impact of slow retail sales in 2Q15-3Q15 following the implementation of the GST. Soft retail sales may improve from 4Q onwards, as consumers begin to adapt to the new consumption tax three to six months after the GST implementation. However inflation may further dampen consumer sentiment next year. Lackluster performance of office sector set to continue: Given the influx of new office supply in the coming years, the office segment will continue to face a persistently challenging operating environment. Incoming supply of office space across Greater KL (excluding Putrajaya and Cyberjaya) is expected at: • 2016: 6.8 million sq ft • 2017: 4.5 million sq ft

36.2

First let’s see how they have fared so far this year. M-REITs have generally come in within analysts’ expectations or slightly underperformed due to various reasons: a. AXREIT: weak office/multi-tenanted segment b. CMMT underperformed due to aggressive interest income estimates c. IGBREIT exceeded expectations d. Weak hotel segment for SUNREIT and KLCC due to softer consumer spending

DATUK STEWART LABROOY

1. Damen Mall by PAVREIT for RM488mil 2. Tropicana City Mall (TCM) and Tropicana City Office Tower (TCOT) by CMMT for RM540mil 3. Beyonics facility by AXREIT for RM61mil

2005

Are REITs the answer as an investment thesis for 2016? 2015 performance

AN OPINION

Office space (million sq ft)

RECENTLY attended the Asia Pacific Real Estate Association’s (APREA) Property Leader’s Summit held in Singapore. I enjoy this particular conference because I get to meet some of the top CEOs in the region and there is always the opportunity to make a deal happen. One session I attended that caught my attention was a panel discussion on the growth forecasts for China for 2016 and never before have I seen such a divergence of views – from bullish to bearish. One forecast put real growth at only 2%! Pretty scary stuff. It made me realise that if we wish to make sense of our economy in Malaysia, we need to make sense of the regional and global economies. We are now part of a global economy and we have to take the consequences of being part of this global village. The ASEAN Economic Community (AEC) has yet to show how it can bring a positive spin to our own economy and the TPPA is still a mystery to many a lay man on the street. Looking ahead to 2016, the view at this forum was just not optimistic at all - in fact it was very depressing. Malaysia’s growth was forecasted to be at 4%-4.3% up to 2020 and the ringgit was expected to spike to RM 4.70 to the US dollar in 2016 before recovering. Warnings of a spike in imported inflation in 1Q 2016 is also a concern. This all points that we are still in for a rocky ride. Volatility is here to stay for a while.

retail assets, such as KLCCP’s Suria KLCC, Pavilion REIT’s Pavilion KL Mall, IGB REIT’s MidValley Megamall and Sunway REIT’s Sunway Pyramid Shopping Mall, which have relatively stronger holding power for rental hikes. For those operationally resilient M-REITs, the view is that they favour: • Axis REIT’s portfolio of primarily singletenanted, long-term, triple net leases • KLCC’s long-term, triple net lease (TNL) offices and high-end mall that can weather the effects of GST better • Pavilion REIT’s solid occupancy and prime asset positioning and • IGB REIT may surprise on the upside if tenant sales manage to weather the effects of GST, which could be a positive for turnover rent and GRI.

STARPROPERTY.MY WEDNESDAY 3 February 2016

FEATURED DEVELOPMENT

Thriven to illuminate mature PJ Luminous living in Tropicana in the heart of Petaling Jaya. By Viknesh Ashley

vikneshashley@thestar.com.my

ramed against vibrant surroundings is Lumi Tropicana by Thriven Global Bhd, a contemporary and highly anticipated mixed-development project that will raise the benchmark for the residential, commercial and the hospitality industries. Tropicana is a highly affluent and fully integrated township that is strategically located between Damansara and Saujana. The locale is only a mere 30 minutes to the Kuala Lumpur city centre. As a neighbourhood that is on the rise, the high demand for homes within Tropicana is a result of its close proximity to the renowned Tropicana Golf & Country Club, and is also due to its seamless access to various hotspots favoured by urbanites such as Bandar Utama and Oasis Damansara. The Lumi Collection is a fresh and exciting brand comprising an exclusive ensemble of the finest and purposefully curated mixed-developments in a desirable neighbourhood, where each Lumi development is a distinct and cherished expression. Residents that buy into the Lumi development will live in a fully integrated living environment where living, dining, retail and landscaping merge into a single and seamless development. All Lumi contemporary developments within the collection are driven by design, and are built to meet the lifestyle needs of discerning owners. The Lumi Collection heralds a new era in innovative lifestyledriven residential products and services that are thoughtfully integrated with commercial and public spaces, a collection

where experiences are unique, authentic and enriching. The debut of the Lumi collection will soon materialise, via Lumi Tropicana. This development hopes to stand proudly as an urban hub, which will be developed right at the pulse of Petaling Jaya. This development is driven by design and is built to meet the lifestyle needs of the future, offering a mix of lifestyle, leisure, and business spaces that all come together to form a community that is shaped by its residents. Lumi Tropicana is home to four blocks of 186 service residences presented in two to three bedroom configurations. The development also offers 62 SoHo units for those who desire to experience a ‘work, live, play’ environment, as well as enjoy a dynamic retail podium featuring cafes, a supermarket, and other leisurely amenities. Car park blocks and surrounding floor areas are usually dull with poor ventilation and lighting. However, at Lumi Tropicana, the introduction of light courts at the lower ground car park level and landscaping incorporated into the belly of the car park block alleviates the natural lighting in this otherwise mundane area. In terms of facilities, the development has a wide range of basic facilities, as well as access to the longest, curved and fully swimmable pool in Malaysia, measuring approximately 190 meters. The development also features complementary shuttle service to the nearest MRT station. The homes offered within Lumi Tropicana are designed to keep residents’ needs at fullest priority, featuring hotelstyled hospitality services. These services available within the property make the living experience here, simply exceptional.

1 Lumi Tropicana is a pioneer product of the Lumi brand, and will be developed in the heart of Petaling Jaya. 2 Spacious interiors and practical layouts are what each residence within Lumi Tropicana offers to its owner. 3 The aspiring development will offer a facility-rich deck holding the longest, curved and fully swimmable 190 metre pool. 4 Lumi Tropicana boasts architecture that is evergreen and should easily champion the test of time. 5 The health conscious can enjoy full gym facilities within the comforts of home, despite experiencing a hectic work schedule. 6 Lumi Marketplace features a mix of art, varied cuisine, shopping and many more conveniences.

Lumi Tropicana offers housekeeping services, which includes regular cleaning, right up to having meals cooked for residents. The concierge, valet, and bellman services will make you feel welcome, right at the entrance. This development provides the comfort and convenience of a four-star hotel, all year round. The service provided within this development is on demand. For example, residents can make restaurant bookings, transportation arrangements and hotel

reservations via the concierge. Adding to that, residents will feel as though they are living within a hotel, with a service that strives to be reliable, responsive and assuring. Lumi Tropicana will be further enhanced by a retail appendix dubbed Lumi Marketplace. This place will feature streaks of art, cuisine, café culture, shopping, conveniences, relaxation as well as recreation. For more information on Lumi Tropicana, visit lumicollections.com.

Wednesday 3 February 2016

Starproperty.my

STARPROPERTY.MY WEDNESDAY 3 February 2016

NEWS

StarProperty.my Awards 2016 Judging Composition Judging Panel of StarProperty.my Awards 2016

he composition of the panel of judges for the StarProperty.my Awards 2016 is intended to be credible, diverse, and impartial. To ensure that the credibility of the awards is maintained, the judging panel consists of several captains of the Malaysian real estate industry. The judging panel consists of national leaders of various disciplines, such as architecture, real estate investment trusts, geomancy sciences, landscape architecture, sustainable building, interior design, real estaterelated services, business and real estate journalism. The diversity of disciplines represented in the judging panel for StarProperty.my Awards 2016 is intended to ensure that every development entry receives allrounded and fair evaluations.

Malaysian Institute for Architects (MIA) president Mohd Zulhemlee An Malaysia REIT Managers Association (MRMA) former chairman Datuk George Stewart Labrooy Malaysian Institute of Geomancy Sciences (MINGS) president Prof. Joe Choo Association of Valuers, Property Managers, Estate Agents, Property Consultants in the Private Sector (PEPS) president Datuk Siders Sittampalam Institute of Landscape Architects Malaysia (ILAM)

president Assoc. Prof. Osman Mohd Tahir Institute of Landscape Architects Malaysia (ILAM) treasurer Abdul Aziz Othman GreenRE executive director James Chua Malaysian Institute of Interior Designers (MIID) president Chris Yap Seng Chye Star Media Group specialist editor Shanmugam Murugasu Star Media Group property business unit content & consumer engagement manager Mak Kum Shi

“ The judging panel consists of national leaders of various disciplines, such as architecture, real estate investment trusts, geomancy sciences, landscape architecture, sustainable building, interior design, real estaterelated services, business and real estate journalism.

Standing firm on affordability, infrastructure and financing Rehda applauds measures announced in 2016 Budget Recalibration for housing. By Mak Kum Shi

makks@thestar.com.my

R REHDA president Datuk Seri FD Iskandar.

EHDA (Real Estate and Housing Developers’ Association) president Datuk Seri FD Iskandar recently lauded the Government for taking pro-active steps in ensuring that the country’s economy remains resilient amidst current challenging times. The association had extended its thanks to the Government for its commitment to proceed with the implementation of various major infrastructure projects announced during the 2016 Budget in October 2015. Such projects include the Mass Rapid Transit (MRT) and Light Railway Transit (LRT), Pan Borneo Highway, Malaysian Vision Valley, Cyber City Centre, Rapid Pengerang

and High Speed Rail, as well as proposing ten new Urban Transformation Centres (UTCs). These projects are vital as they will not only enhance new areas of development but will also provide better accessibility to those areas. He commented that homeownership continues to be amongst the main priority, especially for the low income group and first time house buyers. The financing package offered at 4% for PPR house buyers is definitely good news to the people, in view of the current situation where housing loan financing has become a main problem among house purchasers. “Such initiative is hoped to assist those planning to own a house, specifically those in the lower income bracket. Rehda also hopes that the Government would consider

expanding the incentive to cover housing under the affordable housing category, so that larger groups will be able to benefit from this,” he commented. “Meanwhile, Rehda pleads that more flexibility be given to affordable homes purchasers for their loan applications as loan rejection for this category of buyers are on the rise,” he added. “Rehda also appreciates the Government’s efforts to ensure that there is sufficient provision of affordable housing. The limitation of sale for houses priced up to RM300,000 for all new housing projects to first time house buyers only may be a good move but Rehda has yet to find out the details and will study the facts carefully before giving any further comments,” he said.