StarProperty.my Edition 22 Nov 2015 by StarProperty

SUNDAY 22 NOVEMBER 2015

t s e g g i B e Th

AFFORDABLE HOUSING BOOST FROM

e n Centr io t n e v n Co umpur 4 & 5 Kuala L Hall ov 2015 27-29 N pm 11am-7

BUDGET 2016

Long-term solution needed to house the people. >P4-5

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a MiNistRy Of REal EstatE aNd thE putRaJaya REit

INSIDE THIS ISSUE

Could a rEiT sTruCTurE work For ThE govErnmEnT?

Malaysia laNdscapE aRchitEctuRE awaRds (Mlaa) 2015 calliNg fOR ENtRiEs To CElEbraTE ThE landsCaPE indusTry's bEsT

P12

EkOVEst Bhd tO shOwcasE its flagship pROJEct EkoTiTiwangsa aT sTarProPErTy.my Fair

P16-17 www.starproperty.my

www.facebook.com/starproperty.my

STARPROPERTY.MY SUNDAY 22 NOVEMBER 2015

NEWS

Biggest starProPerty.my fair of the year

More than 50 developers will be showcasing their latest projects.

Kuala Lumpur Convention Centre

27 - 29 Nov 2015

11am - 7pm

BY NURUL ASMUI MD AZMI asmui@ocision.com

he much anticipated StarProperty.my Fair 2015 to be held at the Kuala Lumpur Convention Centre will showcase the latest property projects in the Klang Valley and the other parts of the country. For the first time, two Thailand exhibitors are also taking part in the three-day fair. Those who are searching to own or invest in a property, or looking to upgrade to a better address will have many good choices and deals to shop for at the fair. The event is organised by StarProperty.my in collaboration with its premium partners IJM Land, Tropicana Corp Bhd, and Matrix Concepts holdings Bhd. The Thailand Pavilion booth will feature WinWin Property Link and The Urban Property with their property developments in Thailand. The other participating developers are Agile PJD Development Sdn Bhd, Mah Sing Group Bhd, UeM Sunrise Bhd, Sime Darby Property Bhd, eco World Development Group Bhd, Putrajaya holdings Sdn Bhd, MRCB Land,

Come join the crowd as they check out the biggest property fair.

Sunsuria Bhd, Land & General Bhd, Paramount Property Development Sdn Bhd, DK Group Properties, UMLand, SkyWorld Development Sdn Bhd, Aspen Group, MCT Bhd, Ireka Group of Companies, ekovest Bhd, Mayland Group, Nadayu Properties Bhd, Matrix Concepts holdings Bhd, Bandar Utama Development Sdn Bhd, Seri Pajam Development Sdn Bhd, Setia haruman Sdn Bhd, I&P Group Sdn Bhd, Titijaya Land Bhd, and more. In addition to the wide spread of property projects on display, StarProperty.my will be bringing in 10 reputable speakers over the weekend. They will speak on a number of interesting property-related topics for the benefit of the visitors to the fair.

seNheNg S maKes its DeBUt at ProPerty fair

On Saturday, Khalil Adis will present 'DBKL’s 50% discount on development charge and what it will mean for consumers'; Master David Koh will share 'Feng shui tips on buying properties during difficult times'; Dr Daniele Gambero will speak on 'Propenomy of investment grade real estate for smart investors' and also 'Southern corridor of Klang Valley and the new hotspot for smart investors' as a representative of UMLand. Gary Chua will share tips on 'Top 10 reasons your mortgage application PREMIUM PARTNERS may be rejected – how to mitigate and overcome it'. On Sunday, the speakers are Alan Poon on 'Smart tenant management for property

BY NURUL ASMUI MD AZMI asmui@ocision.com

Quality products on display at StarProperty.my Fair from Nov 27 to 29.

Senheng Electric (KL) Sdn Bhd managing director Lim Kim Heng.

investors'; Chana Borvornluck on 'Investment opportunity in Thailand property'; Siva Shanker on 'The state of the Malaysian property market and investment opportunities in the region'; Master Kenny hoo on '2016 good feng shui: Golden era for great success'; Chris Tan on 'The latest amendment on hAD, strata title and strata management'; and elizabeth Siew presenting 'Smart property investors know the law in creative investment'. Two contests will be available during the event. Those who purchase property at the fair stand a chance to win Senheng cash vouchers that have a total value of more than RM130,000 by submitting their sales order form to StarProperty.my booth. Visitors are invited to complete one of the surveys available at the StarProperty.my booth for a chance to win Samsung Galaxy Tab 3 Lite, a year’s subscription of The Star e-paper worth RM350, MOCOF's Transformer Wall Bed worth RM8299, MOCOF's Flux Chair worth RM679, shopping vouchers and other prizes. The StarProperty.my Fair starts on Nov 27 until 29, from 11am to 7pm. Admission is free. For more information, visit fair.starproperty.my

eNheNG electric (KL) Sdn Bhd, a leading consumer electronics chain, will be participating at the StarProperty.my Fair in KL Convention Centre for the very first time next week. Thoughout its 126 outlets across the country, Senheng stands for great electrical products and excellent technology solutions that have benefited consumers nationwide. “Senheng’s prime objective is to provide the latest and high-quality branded products, as well as unique shopping experiences to each and every one of our customer,” says Senheng managing director Lim Kim heng. The company is currently operating under two channels, which are SeNheNG and senQ Digital Station, with each channel catering to different groups of customers. Striving to meet the needs of today’s generation, without compromising on the needs of the future generations, the company, which was founded in 1989, aims to promote the “Save, Secure & Go

Green” theme to visitors at the fair. “We decided to use a simple and straightforward theme to attract customers, as well as to express our concerns towards our customers’ families, as well as the environment,” says Lim. The theme is specially created to represent the products that will be available at the Senheng booth during the three-day event. Lim goes on to explain the rationale behind the theme. Save – Many people are concerned with the high cost of living. Senheng helps consumers to save energy by offering inverter products, lower interest by offering 36 months Instalment Payment Plan (IPP) programme with 0% interest rate, as well as lessen product repair cost by providing extra one-year warranty. Secure – The high crime rate has caused distress among the public. Thus, Senheng felt the need to protect homes and families by offering quality security products, such as CCTVs to monitor the security of their homes, and home Personal Care (hPC), which allows users to cover any losses from robbery and crime. Go Green – Senheng’s “Paper.less”

business direction is set to keep the earth green for the next generation, and to preserve Mother earth by reducing the usage of paper. In addition, Senheng offers eco-friendly solar energy products and recycling programme for environmentally friendly customers. Visitors to the fair can expect great deals from Senheng for various products such as solar energy by Panasonic, home security by Sharp and Beltech, and Senheng mobile plan which is the only post-paid plan that rewards customers with 20% rebate on their monthly usage in the form of Senheng eZ credit reward's points. Senheng is also offering the e-Waste recycling programme, which involves collecting unwanted electronic products from customers, and disposing them in an environmentally friendly way to protect Mother Nature. “We will also have special promotion for the visitors at the fair so come and visit our booth to check out the special deals during the fair,” adds Lim. Senheng’s booths are numbered M20 and M21 at the StarProperty. my Fair. For more information, visit www.senheng.com.my or fair.starproperty.my

Sunday 22 november 2015

Starproperty.my

STARPROPERTY.MY SUNDAY 22 NOVEMBER 2015

SPECIAL FOCUS

AFFORDABLE HOUSING BOOST FROM BUDGET 2016

LONG-TERM SOLUTION NEEDED TO HOUSE THE pEOpLE A

FFORDABLE housing has taken centre stage in Budget 2016’s allocation to the property sector, which if implemented expediently, will help to promote home ownership among the low-and low-medium income Malaysians who have yet to make their first home purchase. An allocation of RM23bil was made for three development projects to lure foreign and local investors. They are the Malaysian Vision Valley that will cover an area of 108,000 hectares from Nilai to Port Dickson, as well as Cyber City Centre and Aeropolis KLIA that should see accelerated growth to the south of Kuala Lumpur. The Government's affordable housing plan is to build a total of 317,000 housing units to help in addressing the house ownership issue for the low-medium income population. The affordable housing initiatives include an allocation of RM1.6bil to build 175,000 units of PR1MA houses that will be sold at 20% below market price. A total of 100,000 PPA1M houses under the 1Malaysia Civil Servants Housing Programme, priced at between RM90,000 and RM300,000, will be built by 2018. A facilitation fund of up to 25% of the development cost has been provided for the programme. Under the People’s Housing Programme (PPR), an allocation of RM863mil has been made to build 22,300 apartments and 9,800 terrace houses. Two hundred million ringgit has been allocated under the First House Deposit Financing Scheme to assist firsttime housebuyers of affordable houses to pay the deposit for their house. A total of 5,000 PR1MA and PPA1M homes are to be built at 10 locations near light rail transit (LRT) and monorail stations. Syarikat Perumahan Negara Bhd (SPNB) has been tasked to build 10,000 houses under Rumah Mesra Rakyat programme, with a subsidy of RM20,000 to be granted for each house. In the vicinity of Bandar Kwasa Damansara, Kwasa Land (owned by the Employees’ Provident Fund) will build 800 affordable houses and Sime Darby will build 4,600 units in the vicinity of mass rapid transit (MRT) stations. Forty million ringgit has been allocated to revive abandoned low-and medium-cost housing projects, and stamp duty exemption will be granted on financing instruments to the contractors who revive the projects and the original purchasers of the abandoned houses. The Orang Asli indigenous people will benefit from the RM60mil allocation to the Department of Orang

Members of the public looking at model houses of some of the affordable housing projects on display in Penang.

ANGIE NG angie@ thestar.com.my

Angie Ng is the content editor of StarProperty.my.

Asli Development to build houses for the community. Meanwhile, 20,000 houses priced at a maximum price of RM70,000 will be built for the second generation of Felda settlers and 2,000 units each will be built for those in Felcra and Risda schemes. Industry observers point out that having a single dedicated agency, such as a National Housing Board, to act as the main coordinating body for the master planning and implementation of the country’s affordable housing programme will ensure the objectives and targets will be better met. This matter has not been addressed in the budget. The private sector developers have also not been roped in to be part of the team to build affordable housing units. By providing the dedicated land for affordable housing to the private developers besides to the government agencies, these private developers will be able to share their project planning and building expertise to help achieve the target of building enough affordable houses. Knight Frank Malaysia managing

director Sarkunan Subramaniam points out the need for a long-term policy to involve the private sector developers in building affordable housing schemes. Sarkunan says while the housing needs for the low-to low-medium income groups are being addressed by the budget, it is the implementation that is worrying. "In terms of the number of future supply, they may appear to be adequate to address the current shortage. However, while it is important to build affordable housing, it is also important that these homes will be build at the right locations, where there is demand for such housing, availability of amenities and facilities (including education, medical and retail facilities) and where there are good public transportation facilities such as LRT, MRT, commuter train and bus rapid transit. " He says developers have to understand the demographic profile of potential occupants in the various affordable housing programmes. Depending on the profile and locations of the housing programmes, it may

be suitable to build terrace units while in others, it may be townhouses and apartments.

precision in implementation needed

Malaysian REIT Managers Association chairman Datuk Steward Labrooy says of the Government's affordable housing proposals: "Nice ideas but the devil is in the details and execution. It appears that the Government is leading the way but that is a lot of houses to be built. The issue is when and if they will be built." Labrooy says the local property industry has been slow in adopting the Industrialised Building System (IBS). Many contractors are not qualified and are averse to trying new technologies. "However, it is not the construction cost that is the main issue but rather the cost of land and all the other layers of costs that add up to the total costs, that need to be addressed and urgently."

STARPROPERTY.MY SUNDAY 22 NOVEMBER 2015

He says the key issue is cost and the lack of available financing for first-time buyers because they lack a credit history. "PR1MA is not the solution but rather a symptom of what ails the industry. The Government was never meant to be a developer and neither does it have the skill sets to manage such an undertaking, Itâ&#x20AC;&#x2122;s the lack of product for the market that is forcing the decision to try and deliver these units." He says PR1MA was established under the PR1MA Act 2012 to plan, develop, construct and maintain highquality housing with lifestyle concepts for middle-income households in key urban centres. The goal is to build 80,000 homes every year. It was allocated RM500mil during the 2013 Budget to build 80,000 houses in major locations nationwide with the selling price ranging between RM100,000 and RM400,000 per unit. "RM1bil was allocated to PR1MA in the 2014 Budget for 80,000 units and RM1.3bil for another 80,000 units in the 2015 Budget. "But the problem is that PR1MA hasnâ&#x20AC;&#x2122;t taken into consideration the construction period and agreed with the 80,000 units a year target. Developers agree that it generally takes at least three years to deliver a condominium project. "Up to-date there is very little data of what has been achieved. Some sources say that only 800 units have been completed over the past two years. This remains to be verified." CH Williams Talhar & Wong Sdn Bhd managing director Foo Gee Jen concurs with Sarkunan and Labrooy. He says while the programmes for affordable housing have addressed the requirements of first-time home buyers, however plans must be matched by actual deliveries. "Our concern is that the actual number of affordable homes constructed may fall far below target. Demand for affordable homes still exceeds the current supply. With most of the new residential schemes that were launched being priced between RM500,000 and RM1,000,000, the population at the bottom 40 income bracket will still find these new properties unaffordable," Foo says. He says to involve the private sector developers, the Government may look into new incentives for them to develop

affordable housing. "Private developers have found it challenging to build affordable housing without the Government's support, with land cost, construction cost and compliance getting expensive. Hence, the Government may need to look at additional incentives for new affordable housing supply, such as sale of state land at low price to the developers to build such housing," he says. Foo says efforts to build more affordable housing in the vicinity of LRT and monorail stations, including in Pandan Jaya, Sentul and Titiwangsa, will supply more affordable housing which have good accessibility to public transportation network. Sarkunan agrees, saying that the plans for affordable homes to be built near the transportation lines of the LRT and MRT will receive good response due to their strategic locations. "Hopefully, with more upcoming infrastructure projects like LRT 3 and MRT Line 2, there may be an opportunity for the lower income group to own a reasonably priced home in these new and upcoming hotspots," he adds. Sarkunan points out the plight of Malaysians who will not be eligible for affordable housing under the various programmes. "The needs of those who do not qualify for the affordable housing programmes and are not able to buy from the open market due to escalated house prices and tightening in bank financing have not been adequately addressed. "For them, there is nothing to celebrate as there is no reduction in stamp duty (except for original purchasers of abandoned homes) and no revision in real property gains tax." He says measures to assist genuine first-time housebuyers who do not qualify for affordable housing should be implemented to help lower the property overhang in selected locations and to improve secondary market activities. This may require a review of guidelines for responsible financing for genuine buyers (non-speculators) and to lower stamp duty for certain price threshold. Sarkunan also highlights the absence of measures under Budget 2016 to spur activities in the high-end and mainstream residential markets, which have slowed down as felt in the lower sales volume and pricing. He says the slowdown in the

05SPECIAL FOCUS

1 1 Invited guests checking out the model of The Rise affordable housing project after the groundbreaking ceremony. 2 CH Williams Talhar & Wong Sdn Bhd managing director Foo Gee Jen. 3 Malaysian REIT Managers Association chairman Datuk Steward Labrooy. 4 Knight Frank Malaysia managing director Sarkunan Subramaniam.

mainstream property market (primary and secondary) is attributed to various factors, including the prevailing weak market sentiment with rising cost of living, concerns of a weaker job market, and higher loan rejection rate. "The slew of cooling measures which are still in place, the slowing economy coupled with dampened market sentiment continue to see developers revising or lowering their sales target while deferring selected launches as potential buyers take a cautious stance by adopting a wait and see attitude. With the continued weakening of the ringgit against major trading currencies, construction costs will likely increase and with property products pricesensitive in this challenging market environment, it will inevitably affect developersâ&#x20AC;&#x2122; bottomline as they continue to offer attractive packages to drive sales," he remarks. On the other development initiatives under Budget 2016, Foo says the Malaysian Vision Valley project

will augur well for developers with land bank in these locations. With improved connectivity and accessibility, these locations which generally offer more competitively priced housing products, may attract more buyers from the Klang Valley and nearby districts in Negri Sembilan to Malacca. He says Cyber City Centre in Cyberjaya, a 60:40 joint venture between MRCB Land and Cyberview Sdn Bhd, will be on a 140-acre freehold land parcel with an estimated gross development value of RM8bil to RM10bil. To be developed over the next 15 to 20 years, the integrated development will comprise a convention centre, a business hotel, retail lots, offices and residential components. Foo says the future MRT Line 2 ending at Putrajaya will benefit the Cyberjaya market as there is a proposed link connecting Cyberjaya to the MRT Link at Putrajaya Sentral.

STARPROPERTY.MY SUNDAY 22 NOVEMBER 2015

FEATURED DEVELOPMENT

Visionary builders of tomorrow

EcoWorld nurtures vibrant communities by integrating sustainable design, location, infrastructure and financing together.

BY Viknesh AshleY

vikneshashley@thestar.com.my

co World is a trusted brand among property buyers for good reason. It pays attention to the finer details of property development that is expected by discerning buyers. Property buyers and investors alike are attracted to the superior design concepts featured by Eco World Development Group Bhd (EcoWorld) meeting the aspirations and needs for a superior lifestyle. The company places importance especially when it comes to the entrance statement of townships, ensuring that it is grand, fully gated, and secured with access card system, security guards, and video surveillance. At EcoWorld, components that may be usually overlooked, such as roundabouts, are turned into beautifully landscaped masterpieces, reflecting the unique theme of their respective townships. These design additions also stand as a welcome statement to residents, as well as visitors, before dispersing into a particular precinct. Gazebos are transformed into stately ornaments providing shaded venues for residents to meet and foster strong community spirit, apart from linking walkways to parks, lakes as well as waterways. Exclusive clubhouses with extensive facilities are also a familiar feature within the developments showcased by EcoWorld, with some projects offering more than a clubhouse, where each precinct of a township may have its very own, ensuring exclusivity. Linear parks are also found across the entire expanse of EcoWorld townships, while the back lanes of landed homes are turned into beautiful gardens, providing extra greenery. conservation of nature has always been an important feature in EcoWorld developments across the board. An example of such execution is Eco Sanctuary, EcoWorld’s 308.72-acre luxury township developed in canal city, Shah Alam. The property group had made conscious efforts in conserving surrounding environment areas during the township’s planning stages, by engaging the Forest Research Institute Malaysia (FRIM) to conduct an inventory survey on the development site, resulting in 52 species of trees and a total of 1,067 trees successfully being replanted. The “eco” emphasis of this project also lies in the green features implemented which include constructing homes in a northsouth orientation, using large windows for cross-ventilation in homes, as well as using fittings such as solar water heaters, LED streetlights, rainwater harvesting tanks, as well as designating recycling compartments. EcoWorld has approximately 7,443.9 acres of land bank with a total gross development value (GDV) of RM81bil.

3 1 Defining excitement - BBCC is the lifestyle hub of vibrant districts. 2 Relax in stylish luxury at the 12,000 sq ft clubhouse at Parque Residences. 3 EcoWorld’s townships make grand statements that leave an impression on its residents and visitors. 4 Relax within a gazebo and experience the calm of its natural surroundings. 5 An artist’s impression of the newly-opened Eco Majestic Red Carpet Bridge.

currently, the developer is focused on areas such as the Klang Valley, Iskandar Malaysia as well as Penang. As of now, the developer has a total of 17 projects comprising affordable, upgrader, as well as luxury homes, integrated high-rise developments, as well as green business parks. EcoWorld is creating opportunities for the property buyers of today by providing different options to suit diverse appetites. For example, Eco Sky condominiums, being developed off Jalan Ipoh in Kuala Lumpur, is targeted at urbanites looking for wholesome city living, where all the conveniences of a modern lifestyle are available, right at one’s doorstep. over in Iskandar Malaysia, the developer is popular for its EcoBusiness Park series. As for larger upgrader markets, the developer is known for its townships that are dubbed Eco Majestic and Eco Sanctuary, located at Semenyih and Shah Alam respectively. EcoWorld is currently focusing on a handful of key developments, which include Mellowood in Eco Majestic that features luxurious park homes inspired by black and white houses of the straits era and The Parque Residences in EcoSanctuary – launched last month and selling from

RM400,000. The Parque Residences offers resort-style living amidst a 12-acre reserved green space as well as a sanctuary styled clubhouse, holding approximately 12,000 sq ft of facilities exclusively for residents. The developer plans to launch an exciting Kuala Lumpur project in the first half of 2016. This project is dubbed Bukit Bintang city centre (BBcc), a lifestyle hub of vibrant districts consisting of a retail mall, hotels, offices, parks and gardens as well as transit hub. The development will pose as the centre for art, culture, business, and leisure. EcoWorld places its buyers at top priority, placing strong emphasis on security, as well as good connectivity, by improving the accessibility and infrastructure to main roads and highways that lead to their developments, aside from choosing either matured or growing neighbourhoods, complete with amenities such as schools, shops as well as hypermarkets. Getting to an EcoWorld project site is easy, as all its developments are located strategically, with easy accessibility to connecting routes. An integration effort by EcoWorld, with regards to connectivity, is the Eco Majestic Red carpet Bridge constructed at Eco Majestic, which

opened in March this year, not only makes accessibility into the township a breeze, but also to serve as a warm welcoming statement to residents, as well as visitors. This bridge is part of a new link road from the Semenyih Toll (Exit 2101) that will shorten travelling time substantially for those coming to Eco Majestic, avoiding much of the heavy traffic on Jalan Semenyih. The developer has also spent approximately RM10mil to date for the upgrading of the Bandar Tasik Kesuma junction leading into the township’s east gate Entrance. The group is also working towards the opening of a dedicated LEKASEco Majestic Interchange, expected for completion in the second quarter of 2016. This dedicated interchange is approximately five kilometers from the current Semenyih Toll (Exit 2012A) and will lead directly into the township’s commercial precinct, reducing the travel time from Eco Majestic to Kuala Lumpur to just 30 minutes. EcoWorld has also come up with four financing plans under the EcoWorld Easy Premium Home ownership programme. The first plan is the ‘Affordable plan’, where buyers are given the chance to pay down payments using credit card, stretched across a 36-month interest-free instalment period. Next is the ‘Easy plan’, where buyers are given an option to pay a lower monthly repayment via stretching the repayment period to five years. The third option for purchasers is the ‘Upgradable plan’, where a short-term secured loan is designed to bridge temporary cash short fall when upgrading to an EcoWorld home product. Finally, the developer offers the ‘Flexible plan’, a flexiloan that integrates a home loan account with a savings or current account.

Sunday 22 november 2015

Starproperty.my

STARPROPERTY.MY SUNDAY 22 NOVEMBER 2015

VIEWPOINT

A Ministry of reAl estAte And the PutrAjAyA reit

'If you think hiring a professional is expensive, wait until you hire an amateur' – Author Unknown

For Putrajaya alone the Government pays close to RM1.3bil a year under a 25 year-private finance initiative agreement on a Build, Operate and Transfer initiative with the Government.

he 2016 Budget has been tabled in Parliament and will no doubt be furiously debated in the upcoming Parliament sessions. We are all aware of the problems Malaysia is currently facing caused by the drop in government revenue, a weakened ringgit and increasingly expensive cost of raising capital, which has led to belt tightening measures in the 2016 Budget where allocations for various ministries have been cut. having been a practitioner in the private sector all my life, especially being part of the real estate sector over the last 25 years, I would like to suggest some low hanging fruit strategies that could address some of our budgetary shortfalls.

A new ministry for real estate?

At last count we have 25 ministries in the Government. I would like to suggest a 26th. I know it may sound excessive but let’s explore together the real estate that the Government of Malaysia owns and how we may capitalise on its value better. We have always heard that we are great at building things and poor at maintaining them. That for the large part is true. The recent refurbishment of the Bukit Jalil Stadium for a whopping RM1bil begs the questions what did we actually spend since 1998 in maintaining it for it to fall into such a state of disrepair. The Government has realised a need for asset management of their vast real estate holdings and is taking a cue from other Commonwealth countries by introducing the Total Asset Management Manual in 2009 (TAMM 2009). I am not clear as to

AN OPINION DATUK STEWART LABROOY Datuk Stewart LaBrooy is the Chairman of Malaysian REIT Managers Association.

how far this has been implemented – I for one haven’t heard much about it to date. however, there appears to be a crying need for a coordinated effort to bring all of the Government’s real estate assets under the management of one Ministry – hence my suggestion of a 26th Ministry – The Ministry of Real estate. The Government has a huge balance sheet of real estate spanning purpose built office space, schools, hospitals, universities, student accommodation, markets, airports, ports, road and rail infrastructure, including rail stations, LRT and MRT lines and stations, power generation plants, military bases and quarters, golf courses and plantations, to name a few. The property assets of the Government is the largest and the richest in terms of value. It could very

the Putrajaya reit? Putrajaya was a bold development by the Government in the 1990s, creating a new administrative capital followed on from Australia’s Canberra and Brazil’s Brasilia. The Asian Financial Crisis of 1997 / 1998 had somewhat slowed the development of Putrajaya. In 1999, 300 staff members of the Prime Minister's office moved to Putrajaya and the remaining government servants moved in 2005. On Feb 1, 2001, Tun Dr Mahathir declared Putrajaya

as a Federal Territory with the ceremony of handing over Putrajaya township from the Selangor state authorities. In 2002, a rail link called KLIA Transit was opened, linking Putrajaya to both Kuala Lumpur and KL International Airport in Sepang. However, construction of the Putrajaya Monorail which was intended to be the city's metro system was suspended due to costs. One of the monorail suspension bridges in Putrajaya remains unused.

well run into trillions of ringgit. Unfortunately, its current management appears to be uncoordinated, especially from a property management perspective. A dedicated ministry with a focus to manage the huge asset base will for once lift the bar and create a portfolio of government assets that will be well professionally maintained and managed with the correct long-term strategies in place.

Could a reit structure work for the Government? The Government’s NAPIC report in 2010 quoted that out of a total of

However, the real estate in Putrajaya is well planned and executed and the new administrative capital will in time become a much sought-after address. Putrajaya has been largely built by Putrajaya Holdings Sdn Bhd (PJH). PJH’s strong track record as the master developer of the Federal Government administrative capital in Putrajaya and the strength of its Governmentlinked major shareholders namely KLCC Holdings Sdn Bhd and Khazanah Nasional Bhd has led to its strong preliminary rating of AAAIS with a stable outlook. For Putrajaya alone,

177,345,000 sq ft of purpose built office space in Kuala Lumpur, Putrajaya, Selangor, Johor and Penang a quarter belonged to the Government. In 2014, the total office space in Malaysia had risen to 210,388,000 million sq ft. If the proportion is assumed to be the same the Government would own 25% of that – 52,600,000 million sq ft. That’s a lot of office space. If we take a commercial rate of RM4 per sq ft, it would translate to a rent of RM2.5bil a year of imputed rent a year. If all these assets were managed on the lines of a private ReIT using professional asset managers and a transparent structure, there is a very good chance that these office buildings could be securitised and listed as a ReIT returning RM30bil to RM35bil to the Government coffers. They will still have to allocate a rent of RM1.9bil a year but they will then not have the worry of maintaining the buildings as ReITs take very good care of their assets. But that is the tip of the iceberg. The assets under the Government's care is huge and it needs a dedicated ministry to ensure all these assets are allocated the appropriate budget to ensure their proper maintenance. The assets will have to be segregated into different asset classes and managed by dedicated teams. Malaysia has a very sophisticated and professional real estate industry and we are not short of the talent to manage these large and diverse portfolios. It will also create those high-paying jobs, we so need to achieve our status as a developed nation by 2020.

the Government pays close to RM1.3bil a year under a 25-year private finance initiative agreement on a Build, Operate and Transfer initiative with the Government. My thesis is that Putrajaya is a perfect vehicle to REIT. If not after 25 years the Government will inherit 25-year-old buildings with the need of a massive update in its M&E and interior fittings. Then we are back to a maintenance issue and more expense and the argument of who does what. The first duty of the Ministry of Real Estate will

be, upon the 25th year anniversary of Putrajaya, to set up Malaysia's first Government-sponsored Islamic Office REIT, which can grow with further injections of Government assets. The results will be the more efficient use of space, sustainable energy initiatives, better maintained buildings with lower overall cost and the Government will recoup its investment in Putrajaya. The plus side will be that Malaysians will be able to have ownership of their flagship capital. A win-win situation for all !

Sunday 22 november 2015

Starproperty.my

STARPROPERTY.MY SUNDAY 22 NOVEMBER 2015

FEATURED DEVELOPMENT

Mirage by the lake thrives in cyberjaya

OSK Property's resort flagship continues to wow residents and buyers with exceptionally planned green areas coupled with resort-like ambience. BY Viknesh AshleY

vikneshashley@thestar.com.my

asily recognisable by its curvaceous nature is Mirage by the lake (MBTl), a development that promotes resort living, by OsK Property Holdings Bhd. The development stands out due to its landscaped green areas, further enhanced via a noticeably curvilinear theme present across the property. OsK Property general manager of sales and marketing Chee Kok Keong explains, "The difference with MBTl is our entrance statement that is not typically angular, but instead is in line with the development’s theme using curves as well as creeper plants intertwining with an arch, creating a green as well as a natural ambience, boasting an organic outlook." Developed within the highly soughtafter Cyberjaya area, MBTl is set across 12.41 acres of prime lakeside land, setting aside up to three acres of land allocated solely to landscaping as this development targets the untapped market demand, for low to mid-rise lake-front and resort-like experiences especially within the Klang Valley region. The big picture of MBTl is designed to cater to an affluent customer segment seeking unique product propositions within a niche segment of the property market, including upgraders from Puchong, seri Kembangan as well as Bukit Jalil. The project is also popular among expatriates currently staying in KlCC and working in Cyberjaya as there is a lack of homes offering open space layouts and large unit sizes encased by luscious landscaping set in the area. located within the Perdana lakeview West precinct, MBTl is perched at one of the most prestigious freehold addresses in Cyberjaya. Chee says, "Mirage by the lake was conceptualised as we searched tirelessly for a parcel of land to forge our flagship development within the prestigious Cyberjaya area. We have been scouting for quite a while in this area till we stumbled upon a particular parcel of land in the Perdana lakeview West, which we eventually acquired. "We have made the right decision with regards to acquiring this gem as the surrounding area of the Perdana lakeview East is scenic and is a mere 35km to KlCC. MBTl offers two phases of property showcasing 205 units of condominiums as well as 26 units of lake villas in phase one while phase two holds 208 units of condominiums and 38 link villas. The condominium unit layouts are sized from 1,060 sq ft to 1,496 sq ft, whereas villas are sized from 2,466 sq ft to 4,736 sq ft. as of now, all units are completed, sold and handed over to owners. Residents choosing to call Mirage

1 1 An aerial view of the majestic villas showcased within Mirage by the lake, Cyberjaya, where resort living meets the daily routine. 2 The development offers unique as well as spacious residential units for those looking for peaceful living as well as a tranquil lifestyle.

3 The homes offered at MBTL emphasise on maximising natural lighting illuminating the interiors of each and every home featured within this lakeside project.

home can be rest assured of their safety as Mirage is protected by a multi-tiered security system featuring high welded mesh fence fitted with CCTV cameras in strategic areas across the development, an access card system as well as guard patrol service. Getting to the MBTl site is easy as it is centrally located and is easily accessible via the Maju Expressway (MEX), lebuhraya

Damansara-Puchong (lDP), North south Expressway (EliTE), south Klang Valley Expressway (sKVE), Pintasan Dengkil Bypass and Express Rail link (ERl). OsK Property has much to offer for the future, with a mini township located within Cyberjaya dubbed Pan’gaea. according to Chee, this development envisions a "World in One Place" concept where the diversities of modern living are

brought together under one address, within a development fulfilling the demands of the present as well as setting the trends for the future. "Most of our projects have now reached the completion stage such as The Vale at sutera Damansara, Mirage Residence@KlCC, Paragon @ Pan’gaea and Mirage by the lake. We also have ongoing projects such as EMiRa located at section 13, shah alam as well as Gravitas at section 26 an industrial building that is underway in shah alam," Chee says. OsK Property is working on further increasing its portfolio via further developing landed property as well as other components including retail offerings such as atria shopping Gallery completed and soft – opened on the 28th of May, this year.

Sunday 22 november 2015

Starproperty.my

STARPROPERTY.MY SUNDAY 22 NOVEMBER 2015

13FEATURED DEVELOPMENT

Change, Challenge and Competition

Leading-edge IJM Land is showing the property industry what it takes to be one of those that have shaped Malaysia's property landscape. By CAITLYN NG LI YUIN

1 An artist's impression of the stunning overall development of the 152-acre The Light Waterfront Penang, an integrated waterfront living, that is moving from bold vision to becoming a magnificent reality.

liyuin@ocision.com

TARTING out 30 years ago as a merger between three mediumsized local construction companies, IJM Corp Bhd quickly became one of Malaysia's leading conglomerates with five main divisions. With early beginnings as contractors, it was only natural that a progression into something more upstream was made. Thus, with the foray of the corporation into property development, IJM Land was born. Achieving a reputation as one of Malaysia's premier property developers meant that IJM Land continually strives to be a progressive organisation that delivers the highest standards of performance in all their ventures. Their vision echoes that: To be an internationally recognised developer of repute and step out of the boundaries of Malaysia. IJM Land has indeed set a lofty goal that will be the guiding light for them to reach greater heights. Even with the property market slowing down this year, IJM Land has remained positive and is always looking for ways to create value for customers and stakeholders with cutting edge ideas. The DNA for all of their products has been a simple yet crucial one: design with the customer in mind. For years, they have been getting feedback from their existing homebuyers so that they can find out what it takes to create future beautiful masterplans that are able to attract people from all walks of life. "There are pockets of opportunity where we can see a strong demand for our products, even with a sluggish market. We managed to see where the interest was and focus on that so as to take the opportunity to strengthen and improve ourselves and our processes. "Being relevant in this day and age is important, so we make sure we commit passionately to excel at all we do, constantly striving to push the limits and surpass standards of excellence," enthuses IJM Land Bhd managing director Edward Chong Sin Kiat. The company's vast portfolio includes townships, sustainable developments, iconic water community, luxury homes, landed and high-rise residences, offices and commercial properties in many states. Some of the upcoming developments which the public can look forward to include Waterside Residence in The Light Waterfront development, located in an enviable site next to the first Penang Bridge. Another one is Austin Duta at Mount Austin, Johor Baru. Comprising a total of 183 units of two-storey terraced homes in the first phase, Austin Duta is a 250-acre project that will be completed over a total of 12 phases. Keeping in line with their vision, IJM Land has not only been continually developing their signature projects in

2 Waterside Residence, sited on a four-acre piece of land in The Light Waterfront, boasts one of the most enviable locations with a view of the sea. 3 IJM Land Bhd managing director Edward Chong Sin Kiat.

4 The first phase of Austin Duta consists of two-storey terrace houses, sited in an enclave enveloped in lush greenery. 5 An artist's impression of the stately main entrance to Austin Duta, with the signature two yellow feathers from the lovebirds species making a home here, symbolising that paradise is found.

Malaysia, but is also making their presence felt on a global level. They are building on their momentum by undertaking projects in the United Kingdom, Vietnam and China. "We have multiple projects currently developed or are being developed, in locations throughout Malaysia. As our customers are at the heart of everything we do, we consider the value proposition to customers when selecting the location for development, such as the accessibility and connectivity. "Each location chosen has its appeal which will cater to a particular segment of the population, and we also look at whether the area is established or not. What the

people look for in any project is different, but we create homes that are able to fulfil as many needs and demands as possible," Chong explains. This has been a year which the company learnt how to adjust its strategies to be in line with the current market conditions. In 2016, however, the company is gearing towards seizing opportunities to refocus and look at new ways to innovate and get better results in product development. The company aims to enhance its capability to provide the best customer experience, by constantly delivering at the right time with the

highest quality. In lieu of current labour productivity, rising costs and quality issues, IJM Land is already considering to embark on utilising a technique of construction called Industrialised Building System (IBS) in its future projects. Embarking on this uncommon approach will definitely put IJM Land at the forefront of the property development industry as not many developers have the same advantage of being a conglomerate that has divisions which deal with both building materials and property development. IJM Land is in a prime position to deploy and benefit from this technique on a larger scale. This award-winning company doesn't believe in putting in so many add-ons to each project over the years, thereby causing the prices to continually rise. Instead, it believes in scaling back and looking realistically at the creation of products that contain just the essential necessities of the homebuyers. This sustainable practice is what gives IJM Land its cutting edge and ability to continually build thriving communities that are well into the future.

STARPROPERTY.MY SUNDAY 22 NOVEMBER 2015

FEATURED DEVELOPMENT

Eat, drink, and bE mErry

Klang South residents will have a reason to rejoice as an upcoming Maritime Food Haven looks set to capture the hearts and minds of the public. will be the much talked about feature for all who patronise the mall. Apart from creating a calming effect for all who come to witness it, it will serve many functions, such as from an educational standpoint to an entertainment focal point. "South Klang is poised for a resurgence with the presence of Pier 8 at Gravit8, defined by its diversity and where fashion and style are as limitless as the imagination. Eighty percent of Pier 8 will be allocated for F&B outlets, in line with the positioning of the mall as a food haven. "With an expected completion date at the end of 2018, this F&B hub has approximately 150,000 sq ft of net lettable space and 700 parking bays, allowing for plenty of people to come and mingle in a safe and dynamic environment. This is where modernity meets nature in a seamless blend," says Mitraland Group CEO Chuah Theong Yee. Indeed, nature comes to life in the form of lush greenery surrounding the eight-acre landscaped lake, designed and created by GDP Architects, an awardwinning company offering professional architectural services. The lake will have many waterway activities held, a novelty that many will relish. Location-wise, Klang South is equipped with excellent infrastructure and located in close proximity to prominent and established residential and commercial centres such as Bukit Tinggi, Klang, Kota Kemuning, Shah Alam and even Subang Jaya. Gravit8 is sited ideally as it is easily connected to major highways such as KESAS, Federal Highway, NKVE and SKVE. More importantly, the development is also located in between proposed Bandar Botanik and Johan Setia LRT stations. Pier 8 will soon become synonymous with great food, amazing ambience and the perfect place for unforgettable experiences. Mitraland is creating a oneof-a-kind lifestyle destination that boasts a cohesive blend of leisure, recreation and excitement, and Pier 8 is an important component in the flagship mixed development that is Gravit8.

By CAITLYN NG LI YUIN

liyuin@ocision.com

OOD has always been an integral part of the Malaysian culture, and it's no surprise, seeing how we have a melting pot of races. Malaysians get to enjoy some of the best food in the world, with plenty of perennial favourites available in easily accessible hotspots nationwide. One such hotspot is Klang South, well-known for the fresh and delicious seafood in eateries all over the area. However, one developer is set to change that scene, with their bespoke retail haven. Pier 8 at Gravit8 is a new destination to be reckoned with as they aim to bring together all the outstanding and unique F&B operators under one roof. Pier 8 is named thus as a nod to Klang's rich heritage of being one of the busiest international ports, and the word 'pier' was chosen for its connotation to the maritime theme, which is prevalent in the look and feel of the entire Gravit8 development. It also pays homage to this incredible port city. The number '8' features prominently within Gravit8, with the eight high-rise towers which surround an eight-acre landscaped lake. It also signifies prosperity in the Chinese culture, which makes it a fitting choice. A pier is a safe harbour for ships passing through and Pier 8 will provide the secure location for both tenants and customers alike. The former to showcase their wares and run their businesses;

the latter for the vibrant lifestyle they will no doubt enjoy, filled with many opportunities to tantalise their tastebuds and shop to their heart's content. The proposed Maritime Food Haven aims to bring family and friends together in order to enjoy life's simple pleasures and form strong bonds. This F&B hub is something that is unlike the usual impersonal large shopping complexes. Apart from the interesting and exceptional eateries to be found at Pier 8, there will also be a fitness centre, grocery, and entertainment centre which includes a family-friendly karaoke lounge. "We see that there is a huge potential just waiting to be unlocked for our Maritime Food Haven as our recent market surveys show that currently, developments with vibrant and exciting commercial offerings catering to everyone, particularly F&B outlets, are limited in the vicinity." "There are two shopping malls â&#x20AC;&#x201C; GM Klang and Aeon Bukit Tinggi â&#x20AC;&#x201C; within a 5km radius from Gravit8 and only Aeon offers forms of entertainment for the public, albeit limited options, which is a cinema and karaoke. With Gravit8's presence, the surrounding community will be spoilt for choice as they will get to experience an entirely exclusive retail and dining lifestyle," explains Mitraland Group chairman Datuk Johan Ariffin. There will also be the piece de resistance within Pier 8 itself: a gigantic aquarium displaying a mixture of marine life that towers grandly above visitors and

2 1 Mitraland Group chairman Datuk Johan Ariffin (right) and Mitraland Group CEO Chuah Theong Yee (left). 2 Sleek urban architecture meets verdant nature in a harmonious blend, creating a unique Maritime Food Haven at Pier 8. 3 The grand aquarium that is home to various marine life is one-ofa-kind and creates an attractive focal point for people of all ages.

STARPROPERTY.MY SUNDAY 22 NOVEMBER 2015

15FEATURED DEVELOPMENT The greaT sysTem "Gombak river enhancement and tunnel"

EkovEst Bhd radiatEs in kuala lumpur

“EkoTitiwangsa is a property that is popular amongst investors and property buyers alike, a service apartment component of the larger EkoRiver Centre, a mixed development with its main highlight being the 2.1million sq ft Gross Floor Area (GFA) commercialretail-office-hotel development spread over 6.6acres of land.

Caring developer integrates property development via seamless connectivity.

BY Viknesh AshleY

vikneshashley@thestar.com.my

he infamous rule when it comes to being a successful property development is its location. however, a property’s success also relies on how efficiently it is connected to highways, public road and rail transport. ekovest Bhd is planning to add more value to its mixed developments by providing easy access as well as connectivity to and from its surrounding development areas. The developer is the holding company of Konsortium Lebuhraya Utara-Timur (KL) Sdn Bhd, the concession holder of the DUKe highway. This gives the company an edge when it comes to having the required skills as well as knowledge, to ensure that development planning integrates two important aspects of property development namely project planning and infrastructure development, and bridges the unique entities of both. The DUKe Phase-3 has been selected as the pioneer highway infrastructure project in Malaysia to be rated under the envision Sustainable Infrastructure Rating System. ekovest Bhd managing director Datuk Lim Keng Cheng says, “envision is the product of a joint collaboration between the Zofnass Program for Sustainable Infrastructure at the harvard University Graduate School of Design and the Institute for Sustainable Infrastructure.”

envision provides a holistic framework for evaluating and rating the community, environmental, and economic benefits of all types and sizes of infrastructure projects. It evaluates, grades and gives recognition to infrastructure projects that use transformational and collaborative approaches to assess the sustainability indicators over the course of a project’s life cycle. ekovest is also a member of the “Sustainable Infrastructure in Malaysia Pledge”, signed on April 10 this year to reduce environmental damage and the maintenance cost of buildings. here ekovest has an additional advantage as the company is on the forefront with regards to the construction industry, having given its commitment to work toward enhancing the sustainability and resilience of Malaysia’s building industry as well as environment. ekovest is currently embarking on two unique projects. The first is located along Jalan Pahang in Kuala Lumpur and the other are within the matured Cheras locale. The developments, respectively dubbed ekoTitiwangsa and ekoCheras, both currently enjoy sales of around 90% with their works completion currently at around 38%. ekoTitiwangsa is a property development that has been well received by investors and property buyers alike. Comprising of service apartments, it is a component of the larger ekoRiver Centre, a mixed development with its main

highlight being the 2.1million sq ft gross floor area (GFA) commercial-retail-officehotel development spread over 6.6 acres of land. An iconic 68-storey tower stand proud within this expanse, housing a corporate office tower as well as a hotel on top of an 800,000 sq ft retail-convention centre with a total gross development value (GDV) of RM2.1bil. ekoTitiwangsa’s Towers A and B comprising of 696 service apartments will also be launched soon. The ekoRiver Centre is set to become a prominent hub of the KL River City project offering public amenities such as a waterfront promenade, retail, food and beverage outlets, waterways, water taxis as well as a linkage to Taman Titiwangsa via an underpass. The development is accessible to and from Kuala Lumpur and Mont' Kiara via a grade existing Jalan Pahang or alternatively via the soon to be completed elevated DUKe 2. As certain sections along Jalan Pahang are known to be prone to occasional flooding, ekovest has taken the initiative to carry out and coordinate discussions with Dewan Bandaraya Kuala Lumpur and its consultants to provide a long term solution. As such, the storm water discharge from the ekoRiver Centre’s development site will be properly streamlined to be channeled downstream via a dedicated tunnel into the Gombak river to further mitigate any potential future flooding. ekovest’s first integrated development

1 EkoCheras is targeted for completion in 2017, showcasing an integrated commercial development that encases a lifestyle mall as well as a 400m frontage along Jalan Cheras. 2 A sectional view of how the flood tunnel system would assist in mitigating potential flooding at the EkoTitiwangsa development site located along Jalan Pahang. 3 Ekovest managing director Datuk Lim Keng Cheng believes that the tenants as well as business owners of EkoCheras will be made up mostly from the existing locals residing in the mature Cheras vicinity.

at ekoCheras is situated in the mature Cheras locale and is targeted at buyers with high disposable income. The integrated commercial development once completed will feature a lifestyle mall with 400m of frontage along Jalan Cheras and is targeted for completion in 2017. This mixed development will serve a ready catchment presented by the existing Cheras population. Lim says, “We foresee that the current residents of Cheras will become future owners as well as tenants of the ekoCheras service apartments while some Cheras locals may become owners of food and beverage outlets as well as entertainment businesses.” Some of the unique highlights to this mixed development include a gymnasium, a cineplex, a supermarket, landscaped areas as well as ample car parking. Apart from this, the ekoCheras Mall will also be linked to the Taman Mutiara Station via a dedicated link bridge, making it a breeze for those frequenting the mall as the MRT Line 1 will connect to other major stations across the Klang Valley. Since its launch, ekoCheras has been offering three investment options targeted at different groups of property buyers and investors. Buyers can choose to purchase the service apartments totaling 1,516 units spread across three towers priced at RM700 per sq ft, the office suites totalling 105 units priced at RM750 per sq ft or the 260 units of hotel suites tagged at RM1,000 per sq ft.

STARPROPERTY.MY SUNDAY 22 NOVEMBER 2015

FEATURED DEVELOPMENT

Ekovest to showcase its flagship EkoTitiwangsa at the StarProperty.my Fair at Kuala Lumpur Convention Centre

KOVEST Bhd will be participating at the biggest StarProperty.my Fair that will be held at the Kuala Lumpur Convention Centre from Nov 27 to 29. At the fair, the developer will be presenting three on-going projects in the Klang Valley - EkoCheras along Jalan Cheras, EkoTitiwangsa along Jalan Pahang and a landed property development called Oasis Kajang in Kajang. Oasis Kajang offers freehold

and modern terrace homes with contemporary designs within a secured environment in the fast developing Kajang. Those looking for a development linked to a MRT Line can consider EkoCheras. EkoCheras is a freehold mixed development located beside the Taman Mutiara MRT station and will comprise a cineplex shopping mall, duplex service apartments, service apartments, office suites as well as hotel suites.

17FEATURED DEVELOPMENT

The developer will also feature a mixed development that is being constructed along Jalan Pahang at the KLCC Fair. This property is christened EkoTitiwangsa and is a freehold service apartment that will be developed in the heart of KL city centre and is part of the iconic KL River City destination. With EkoTitowangsa, Ekovest hopes to create a unique blend of an urban lifestyle as well as a green sanctuary, nestled within a lively environment. Ekovest Bhd managing director

Datuk Lim Keng Cheng says, “We will be offering affordable property, starting from RM500,000 targeted for the mass public aside from offering attractive sales packages such as free SPA, loan agreement and legal fee. “For those looking to buy property for investment or for own stay, they may visit our exhibition booth for further details on our property advancements.” The developer is also currently exploring opportunities to tender for the design and build of PPA1M or

PR1MA homes through UKAS initiated projects, or working with DBKL on the RUMAWIP affordable housing schemes. Lim explains, “PPA1M housing for government servants are provided in the planning and development for our EkoGateway project, totalling 300 units. The layout offered for this development is available in two sizes at 1,000 sq ft and 1,200 sq ft, priced at around RM200 to RM220 per sq ft as per PPA1M guidelines”.

STARPROPERTY.MY SUNDAY 22 NOVEMBER 2015

FEATURED DEVELOPMENT

Homes amid lusH nature

Estuari is an evergreen sanctuary to call home. BY NURUL ASMUI MD AZMI asmui@ocision.com

IVING close to nature has been proven to bring great advantage to our physical and mental health, according to various studies. The sight of greenery and the sense of peaceful ambiance is perfect for one to de-stress and unwind after a long and hectic day. Such tranquility and harmony can be found at one of the latest developments by UEM Sunrise Bhd, one of Malaysia’s top property developers, within Puteri Harbour, the jewel of Nusajaya. UEM Sunrise is developing a sustainable township with a gross development value (GDV) of RM7.4bil named Estuari. Described as “an evergreen sanctuary”, the 394.41-acre exclusive residential development offers urban-style living between preserved greenery and a well landscaped park fringed by natural environment. According to UEM Sunrise acting chief marketing officer Zadil Hanief Mohd Zaidi, the overall Estuari development took inspiration from the nearby Sungai Perepat overlooking the Straits of Johor and surrounding nature. Imagine waking up to a serene scenery surrounded by a wide variety of flora and fauna that bestows a sense of serenity and peace.

the essence of estuari

Estuari comprises 2,900 residential units and low-rise condominiums, and is divided into seven parcels, each featuring a large landscaped area. The development has been conceptualised to retain as much of the existing eco-environment and natural state in order to establish a neighbourhood without jeopardising the surrounding natural environment. Geographically, Estuari will be filled with 30% to 40% of landscaped gardens, hence it offers a distinctive appeal to potential customers. The first parcel of Estuari, namely Estuari Gardens, is the first landed property by UEM Sunrise in Puteri Harbour. Launched in August, this high-end and ecoliving residential enclave is where nature and development are combined harmoniously, excellently blending land and water together. “Estuari, including Estuari Gardens, will add new dynamics to the landscape of Puteri Harbour and ultimately to Nusajaya in Iskandar Malaysia,” says Zadil.

the design principles of estuari Gardens

Sprawled across 47.62 acres, Estuari Gardens features 350 units of two-storey super-link houses. The layouts are categorised into four distinctive types, which are Serenity Aralia (Type A1), Serenity Astelia (Type A2), Serenity Briza (Type B) and Serenity

1 1 The scenic bird’s eye view of Estuari. 2 The inviting grand entrance of Estuari Gardens is surrounded with beautiful landscape. 3 Residents at Estuari can enjoy spectacular lakeview while relaxing amidst nature. 4 Residents can take a stroll on the hanging bridge to experience enticing nature trail. 5 Children can appreciate and explore the natural environment more as the playground is surrounded by nature.

6 At Estuari, every area is complemented by greenery and natural surroundings.

Calathea (Type C), with built-up ranging between 2,708 sq ft and 3,780 sq ft. The landscape at Estuari Gardens is beautifully constructed to provide a sustainable zone with trees transplantation and the provision of wide pedestrian walkways. Estuari Gardens also has well-planned space and facilities to accommodate its residents. The houses are designed in pursuit of harmony. There are pockets of common areas that serve as connecting space between all the bedrooms, separating the areas for family members to enjoy. Each cluster of houses has a dedicated single entry point and cul-de-sac to add privacy and enhance the security within the area. The outdoor walls in between the houses are also low to promote a sense of community living among neighbours.

The essential facilities that will be available for the residents at Estuari Gardens include a management office, children’s playground, exercise area, outdoor fitness equipment, walkways, cycling path, perimeter fencing and signage, as well as 24hour security. With a GDV of RM634mil, Estuari Gardens is slated for completion in 2017. The selling price starts from RM1.39mil.

a prime location

Located strategically in Puteri Harbour, Estuari is only about five minutes’ drive to Lebuh Kota Iskandar, a major highway in Nusajaya, and it is located just next to Kota Iskandar (the state administrative centre of Johor). It is also located close to amenities and tourist attractions such as Legoland Malaysia, Little Red Cube, EduCity

(Marlborough College, Raffles American School, Newcastle University Medicine Malaysia) and Pinewood Iskandar Malaysia Studios. Johor Premium Outlet is also less than 30 minutes’ drive away. “The eco-living development is targeted for owner-occupiers with families, buyers looking to upgrade, as well as expatriates working and living in Johor. “It also offers something new and refreshing that appeals to those who are attracted to and appreciate nature,” says Zadil. After a long strenuous day at work, it would be a delightful escape to return to a home that is surrounded by the richness of nature’s greenery like Estuari, where residents can enjoy clean air and verdant surroundings. “Given Nusajaya’s level of maturity, with increasing job opportunities and population growth in Johor, we felt motivated to launch Estuari Gardens. “Moreover, the freehold gated and guarded Estuari Gardens is expected to meet the demand for top-quality landed properties in Johor,” he adds.

Sunday 22 november 2015

Starproperty.my

STARPROPERTY.MY SUNDAY 22 NOVEMBER 2015

FEATURED FOCUS

THAILAND PROPERTY BECKONS

LuxuRIOuS CONDOmINIumS THAT mAY APPEAL TO mALAYSIANS Competitive baht factor

WinWin Property Link managing director Chana Borvornluck.

Savills (Thailand) Ltd chief executive officer Robert A Collins .

3 Savills Malaysia deputy managing director Paul Khong.

by ANGIE NG

angie@thestar.com.my

WNING property overseas is a statement of one’s social and financial status. The preferred destinations for Malaysians to buy into include the popular global cities of London, New York, Sydney, Melbourne, Auckland and Singapore. Bangkok-based property consultancy WinWin Property Link Company Ltd is calling upon Malaysians who want to diversify their property portfolio offshore to consider Thailand’s condominium property market. WinWin Property Link managing director Chana Borvornluck says foreigners can buy condominiums in Thailand’s cities that include Bangkok, Pattaya, Huahin, Phuket, Hatyai and Chiangmai. He says a foreign property buyer can also opt to set up a company in Thailand which has a Thai partner holding 51% share in the company, while the foreign partner holds the remaining 49%. The Thai company will be eligible to buy any types of property, including land, resort, warehouse, factory, landed house, apartment, office building and condominiums. “If the property is for investment, I recommend Bangkok and Pattaya, and if it is for use as a second home, popular tourist areas like Pattaya, Phuket, Huahin and Chiangmai are among the ideal places. “We can see consumer confidence starting to pick up and the market outlook is more stable now,” he adds. Chana says among the interesting condominium projects are Ivy Ampio in Ratchadapisek, Bangkok, by Pruksa Real Estate Plc; Baanplaihaad in Wongammart, Pattaya, by Sansiri Plc; Centric Huai Kwang Station in Ratchadapisek, Bangkok by SC Asset Plc; Knightsbridge Bearing in Sukhumvit, Bangkok by Origin Property Plc and Sky Walk, which is also in

Sukhumvit, Bangkok by Woraluk Property Plc. On WinWin Property Link, he says the company has 40 years experience offering consulting services to Thai and foreign property customers, including those from China, Taiwan, Hong Kong, Malaysia and Singapore. “Buying or selling property in Thailand involves many processes and the various government departments. WinWin Property’s pool of experienced advisors will help to speed up the process and help the property buyers save on fees and tax. “We provide advice and information for all types of property buying and selling in Thailand. We have all the key links to experienced property agents and network in Thailand, and is open to all property sellers and buyers of all kinds of properties in Thailand,” he explains. Chana’s view of Thailand’s property market echoes that of Thai Condominium Association president Prasert Taedullayasatit, who is also the managing director of Pruksa Real Estate Plc. Prasert has been quoted by The Nation news website as saying that it is a good time to buy residences in Thailand as some units may come up for resale when their owners face cash crunch when commercial banks reject their mortgage applications. He says that up to 30 billion baht worth of condominium units would be transferred to customers in the last quarter of this year, and about 10% to 20% of applicants had been rejected for mortgages by commercial banks. As a result, property firms have to resell them to the market. “This is the best time to buy condominiums, as the price will be lower than for new condo projects launched this year, especially those whose construction began in 2013. “Resale condos will offer a price lower than for new condominiums by between 10% and 15% normally,” he explains.

1-4 Artist's impressions of some of the interesting condominium projects by Thai developers.

Meanwhile, Savills (Thailand) Ltd chief executive officer Robert A Collins observes that new launches and sales takeup in Thailand has slowed moderately this year, although no significant downturn has been seen. “The premium high-end residential sector has continued to perform well though, and there remains very real demand for luxury condominiums in prime Bangkok locations from both local and foreign buyers,” he notes. Collins explains that foreigners who wish to purchase residential condominiums or buy into a strata title office tower may own up to 49% of the units within any single tower. The balance of 51% of units must be owned by Thai nationals. He says the most significant new commercial development is the Super Tower by G Land, a 125-storey office tower that will be the tallest office tower in the Asean region at 615 meters high. “Vacancy in Bangkok’s office leasing sector is the lowest in 20 years, and this remains a very strong area of opportunity for developers and investors. With almost no new supply of office space available in the short- to medium-term, office rents are expected to rise yearon-year,” he adds. Savills Malaysia deputy managing director Paul Khong says with the low baht forex rates, many foreign investors can take advantage of the current buying opportunity of Thai

properties at cheap prices in their local currencies. Depending on location, the active buyers are from countries such as Hong Kong, China, Singapore, Taiwan, Britain and Germany, among others. “Over the past few years, the Chinese renminbi has gained a lot over the baht, and Chinese buyers are taking advantage of their strong currency and proximity to Thailand to invest in vacation homes and investment properties in Thailand. “Chinese businessmen with commercial interests in Thailand were among the first buyers of local residential real estate, and now, even vacationers and investors are joining their ranks. "The top destinations in Thailand are Pattaya, Koh Samui, Phuket, Chiang Mai and Bangkok,” he observes. Khong says Thai properties are not the top favourites for Malaysian buyers, but there are still some heading that way from the northern peninsular states. Likewise, Malaysian properties are never really a hot favourite for investments in Thailand even though the two countries are close neighbours. “We have held some exhibitions of Malaysian projects in Thailand earlier and responses have been fair. We note that for the Thais investing overseas, the preferred choice of investment is still in London and Australia,” he says.

Sunday 22 november 2015

Starproperty.my

STARPROPERTY.MY SUNDAY 22 NOVEMBER 2015

FEATURED DEVELOPMENT

TogeTher gaTher

Coming together as a tight-knit community that places family and neighbourliness above all else is easier than ever at this gorgeous masterplan. By CAITLYN NG LI YUIN

liyuin@ocision.com

OME is where the heart is, and there's no better place to fall in love with than Bandar Rimbayu. A home here at this integrated township is akin to coming back to a serene and private enclave, where everyone is able to relax and savour an enriching neighbourhood living style. Located on a sprawling 1,879-acre piece of land, this premier development is inspired by the nostalgia for a time when life was simple, and people lived close to nature. Bandar Rimbayu will offer a wide range of products, from affordable quality homes and exclusive developments, to recreational, parkland and commercial components. With a gross development value (GDV) of RM11bil and a target of 10,000 households by the time the entire project is completed, this is one address to be reckoned with. With such a large land size, each residential enclave will be low density, thus allowing for tranquility to prevail. The acclaimed Bandar Rimbayu is divided into four precincts â&#x20AC;&#x201C; Flora, Fauna, Bayu and a Commercial Hub. In an effort to promote clean green initiatives, IJM Land has stepped up a notch by having the following features in-built in most of the homes: solar panel water heating system, rainwater harvesting system, a general northsouth orientation to reduce heat exposure, and ingenious architectural designs to allow free flow of air and enhance natural light into each home. There have been a total of five phases of residential enclaves launched since 2013, all of which bear whimsical flora-based names. The first phase was Chimes with 526 units; the second phase was Perennia with 484 units; the third phase was Periwinkle with 467 units; the fourth phase was Scarlet with 110 units; and finally there was Wisteria with 231 units. In addition, there was a recently launched phase of two- and threestorey shop offices called Blossom Drive with 48 units in total. Keeping in line with the prevalent nature theme of this development, the latest phase to be launched in Bandar Rimbayu is Penduline. This marks the beginning of the fauna series as it is named after a species of small bird. Consisting of

4 IJM

1 1 The ARC @ Bandar Rimbayu. 2 The ARC @ Bandar Rimbayu, aerial view. 3 Chimes @ Bandar Rimbayu, completed in March 2015. 4 Penduline street view.

625 well-planned two-storey link homes with built-up ranging from 1,771 sq ft to 2,022 sq ft, it is sited on 55 acres. This latest sanctuary is designed like the rest of the other exclusive enclaves, making use of the CPTED (crime prevention through environmental design) approach, with a single entrance and exit point. Penduline is designed with first-time young homebuyers in mind. With an indicative starting price of RM644,800, IJM Land is able to offer these homes at attractive prices by going back to a basic practical design, and optimising on the buyer's needs instead of wants. "This is the product that the market is looking for during the current economic slowdown. With an outstanding value for money proposition, we are sure

that our Penduline homes would entice prospective buyers looking for their own stay or for investment. There has never been a better time for the younger generation to buy, as houses at this attractive price range is hard to come by nowadays," says IJM Land managing director Edward Chong Sin Kiat. As for the centrepiece of the entire township, The Arc is an eco-friendly building located in the Commercial Hub. Spanning over 10,000 sq ft, this icon is designed to be a living and evolving structure with a sustainable approach, and is surrounded by shrubs, flower gardens, aquatic plants, herbs and climbers. It also comes fitted with green solutions, which includes an elevated green roof deck to accommodate sunlight, heat, humidity and rain.

Due to its centrally located address that boasts both accessibility and yet secluded from the hustle and bustle of the city, residents, visitors and business operators will be able to enjoy the best of both worlds. The Bandar Rimbayu township is well connected through five major highways â&#x20AC;&#x201C; Shah Alam Expressway (KESAS), Kemuning-Shah Alam Highway (LKSA), South Klang Valley Expressway (SKVE), North-South Expressway Central Link (ELITE) as well as the proposed West Coast Expressway (WCE). Thanks to lush landscapes and generous streetscapes, Bandar Rimbayu is a community with components of amenities and facilities, making it the ideal residential address and coming home a great pleasure.

Sunday 22 november 2015

Starproperty.my

STARPROPERTY.MY SUNDAY 22 NOVEMBER 2015

FEATURED DEVELOPMENT

A ConCerto of life

BCB BHD BrinGS CHeer to nortH KiArA

ROMISING a new level of prestige in the affluent neighbourhood of Dutamas, Concerto North Kiara is an exclusive condominium development complete with all the trappings of luxury living. As refined as a masterpiece, completely harmonious akin to an orchestra, life in Concerto is an endless symphony. Strategically located on a five-acre plot of freehold land in the Dutamas area, the northern side of Mont’ Kiara, Concerto North Kiara parades a contemporary threetower façade. This fine exclusive collection of homes comprises 440 units, amidst the delightfully enchanting greenery located along Jalan Dutamas Raya. Built for exclusivity and distinction, it offers a fusion of luxury, elegance and nature with beautiful landscaping, water features and recreational facilities. The development sings to the beauty of its natural surroundings with lush greenery, picturesque gardens and breathtaking architectural form. It offers five different home layouts with key design features in common. Units at Concerto Mont’ Kiara measure approximately 1,707 sq ft to 2,084 sq ft in size, comprising 3+1 bedrooms and four bathrooms. It is expected to be completed this December. With only three units on each floor serviced by four lifts, each unit is served by two lifts with private lift lobbies. Personalised lift access cards ensure unrivalled security, matched by meticulous security personnel services. BCB Bhd is among the few developers who provides private lobby to homeowners, winning the Best Luxury High-Rise Development 2014.

The artistic construction of each unit renders the homes in perfect harmony with nature, with an excellent flow of ample natural light, the absence of unsightly pillars and a good angle for tasteful interior decoration. It also offers a sweeping view of Kuala Lumpur city’s skyline from a private lanai or balcony. Most of Concerto North Kiara’s units are facing north and south, which avoids the heat of the afternoon sun and provides better ventilation. All units are aligned north to south with large wide window panels in the main living room and bedrooms to provide natural lighting and ventilation, while providing great views of the city or garden. Marble flooring adorn the living and, dining areas, dry kitchen and part of the master bedroom while timber strip flooring complete the ensemble in all bedrooms. The homes are fitted with elegant kitchen cabinets, island hoods, built-in oven and ceramic hobs, a refrigerator and wardrobes in the master bedroom. Concerto North Kiara also provides the optimum interior space for the discerning homeowner that demands a functional, comfortable and practical living space. The living room is designed to have wide open space with adequate lighting. On average, size of living room area is between 410 and 540 sq ft, complemented with large window panels. For bedrooms, while comfort is important, privacy is also essential. Considering the needs of different people and their comfort standard, the master bedroom area was designed to have 183

to 300 sq ft of space while the sizes of other bedrooms ranges from 107 to140 sq ft. Units have also been designed to take advantage of the different corridors and rooms while keeping the public areas isolated, cleverly retaining residences’ privacy. The spacious dimensions create a sense of living freedom with unmatched privacy. The four-storey car park, which comes with an entrance and an exit at each level, is specially designed; where the building’s side gradient is slightly higher than the front, creating the ease of driving without going through any narrow or steep slopes. These were planned for the shortest walking distance from the car park bay to the lifts, which allows homeowners to get back home within a minute. Research shows that most condominium owners experienced the same “major” issue – water leaks from the unit above them. Concerto North Kiara provides harmony living with its innovative “Same Floor Drainage System” that comes with added benefits such as reducing drainage noise and preventing leakages from the above unit. If and when leakages in the bathroom, the bottom slab channels the leak towards a discharge pipe, technicians can start repairing the leak on the same floor, without disturbing your neighbour. The system also maintains the unique chandelier in your master bathroom. Concerto North Kiara offers a comprehensive range of facilities which caters to the needs of everyone in the family. For gym-goers or sporting residents, the Sports Centre is located at the atrium, which has a half basketball court, convertible into a

Concerto Mont’ Kiara It offers five different home layouts with key design features in common. Units at Concerto Mont’ Kiara measure approximately 1,707 sq ft to 2,084 sq ft in size, comprising 3+1 bedrooms and four bathrooms. It is expected to be completed this December.

badminton or table tennis court, and also a gym, yoga room, and squash courts. There is also an Olympic-sized outdoor swimming pool with cabana and outdoor Jacuzzi which will be a great place to relax and rejuvenate. In addition, there is a tai chi lawn for elderlies and golfers to practice right at home at the putting green of Concerto North Kiara. On top of children’s pool, nursery and playground, there is a study room where children may study away from the distractions at home or to have their tuition classes. There is even a music room with a piano for them to practise. Other facilities include barbeque, L’Amour De Jardin, Reflexology Path, tennis court, jogging track and more. The Club House will also have a Café cum convenience store for the daily needs of the residents. With its strategic location, premier international schools such as Mont’ Kiara International School and Garden International School are a stone’s throw away from Concerto North Kiara. Shopping malls and hypermarkets such as Solaris Mont’ Kiara, Cold Storage Solaris Mont’ Kiara and Plaza Mont’ Kiara are also within the vicinity of Concerto North Kiara. Concerto North Kiara is conveniently accessible through major highways and road networks, including Penchala and Kerinchi Links-Sprint Highway, Jalan Duta, Jalan Kucing- North Klang Valley Expressway (NKVE), North South Expressway, Lebuhraya Damansara Puchong (LDP) and Duke Highway (Duta-Ulu Kelang Expressway).

Sunday 22 november 2015

Starproperty.my

STARPROPERTY.MY SUNDAY 22 NOVEMBER 2015

FEATURED DEVELOPMENT

A NEw BENchmArk For UNiqUE city LiviNg

Eupe brings exceptional designs and innovations to boost the lifestyle of Bangsar South.

BY NURUL ASMUI MD AZMI asmui@ocision.com

HE dream of owning a property at a prestigious address can now be attained at an affluent integrated development on the outskirts of Kuala Lumpur, Bangsar South. Undergoing an intensive transformation, the exclusive area now consists of modernised office towers, mid- to highend condominiums, as well as retail and commercial spaces. As Bangsar South is currently booming with the emergence of commercial hubs and residential buildings, Eupe Corp Bhd, one of northern Malaysia’s biggest property developers, is seizing the opportunity to launch its first major residential project in Kuala Lumpur at Bangsar South, named Novum. Situated strategically in between Bangsar, Kuala Lumpur and Petaling Jaya, Bangsar South is within close proximity to an abundance of amenities, including educational institutions, healthcare centres and shopping malls. Nexus, Mid Valley Megamall, Bangsar Shopping Centre and Amcorp Mall are only within a short drive away. Novum will have easy connectivity to three major expressways, which are the Federal Highway, New Pantai Expressway (NPE) and Kerinchi Link. Developed in collaboration with the Asthetik Property Group, Novum, which means “new innovation” in Latin, will push innovation and creativity to new heights. “Our aim is to redefine every location we are developing with iconic designs and the latest lifestyle offerings and concepts. “Novum will showcase our distinctive approach to property development with a range of exciting innovations that will raise

the bar on contemporary living,” says Eupe managing director Datuk Beh Huck Lee.

Exclusive features

With a gross development value (GDV) of RM555mil, Novum comprises over 40 storeys with 729 service apartments and SoVo units. The built-up ranges from 647 sq ft to 1,445 sq ft, with prices ranging between RM720,000 and RM1.7mil. Slated for completion in 2019, Novum aims to represent its “new innovation” in three distinctive ways, which are:

1. Novum is the new Bangsar. Novum is set to redefine Bangsar South with cutting-edge designs that bring elegance and natural well-being for iconic stylish living. Capturing luxury, privacy, comfort and environmental sustainability, Novum will bring spacious living to the

heart of a concrete world. The building is sculptured exclusively as a series of interlocking structures to create clusters of unique villages high in the sky.

2. Novum is the new lifestyle. Designed with convenience in mind, Novum features the latest innovative lifestyle facilities to cater for every need, from tranquil, communal spaces to activity areas. Among the main facilities are a Celebrity Kitchen where residents can dine and entertain luxuriously, a stateof-the-art business centre and a 50m lap pool. Every lifestyle area is equipped for virtual networking, and also for real-life networking with friends and families. 3. Novum is the new digital life. A new digital platform has been specially developed by Eupe to provide a personal gateway with a range of

1 The facilities podium at Novum offers the perfect place for recreation and relaxation. 2 The innovative facade of Novum. 3 The business centre at Novum offers convenient working space. 4 Novum’s Celebrity Kitchen will provide an exceptional dining experience. 5 Living and dining areas in each condominium are designed to complement each other. 6 The modern living space of Type D1 layout at Novum. 7 Eupe Corp Bhd managing director Datuk Beh Huck Lee.

digital connectivity features to make life for Novum residents easier and more convenient. The New Digital Life (NDL) app can be downloaded directly to the resident’s phone or tablet. With it, they will be able to pay utility bills, find and contact local shopping and entertainment facilities, make bookings at local restaurants, order groceries, report and send details (photo or video) of any maintenance issue to have them fixed as soon as possible, as well as find the fastest way through traffic. With unique architecture and bountiful facilities, Novum offers a luxurious living environment amid oneof-a-kind city living. The development also provides an ideal opportunity for those looking for freehold property investments in Bangsar South as it is located in a strategic location. 7

Who is Eupe? 3

The company name was derived from the combination of two letters, "U" and "P" from the name “United Plantations”, the site of Eupe’s first major township. Since it began operations in 1986, Eupe has built more than 20,000 homes in the state of Kedah. Its residential development offering ranges from affordable housing to premium homes. With Eupe growing and thriving, the group has decided to enter a new stage of its development by building major projects in two of the most sought-after areas in Kuala Lumpur. The first project is Novum in the prestigious suburb of Bangsar South, and the second project is The Weave in the bustling suburb of Cheras. To date, Eupe has been awarded the title of Malaysia’s top township developer by a leading national magazine in 2014, and as one of Malaysia’s top property developers by a Malaysian property website in 2013.

Sunday 22 november 2015

Starproperty.my

Sunday 22 november 2015

Starproperty.my

Sunday 22 november 2015

Starproperty.my

Sunday 22 november 2015