StarProperty.my Edition 1 June 2016 by StarProperty

JUNE 2016 WEDNESDAY

STEERING IJM THROUGH SLOWDOWN IJM Corp Bhd CEO Datuk Soam Heng Choon overcomes challenging times by focusing on growth.

> P04-05

INSIDE THIS ISSUE

NEGERI SEMBILAN’S RISE IMMINENT

MALAYSIA VISION VALLEY, KUALA LUMPUR HIGH SPEED RAIL, DEVELOPMENT POLICIES AND INFRASTRUCTURE PROJECTS ARE EXPECTED TO DRIVE THE STATE’S PROPERTY MARKET OVER FUTURE DECADES. > P06

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MORTGAGE SUPPORT SINGAPORE MARKET’S FOR HOUSE BUYERS FIRM FUNDAMENTALS BANK NEGARA'S MEASURES TO ENSURE FINANCIAL STABILITY. > P16

THE PROPERTY MARKET AND ECONOMY HAVE REMAINED RESILIENT DESPITE A SLOWDOWN. > P22

STARPROPERTY.MY WEDNESDAY 1 JUNE 2016

NEW DEVELOPMENT

GREAT FOR BUSINESSES

Ekovest Bhd's EkoCheras' strategic location, excellent accessibility and large populace catchment will drive commerce in Cheras

By VIKNESH ASHLEY

vikneshashley@thestar.com.my

KOCHERAS is a fully integrated development that enjoys the convenience of a commercial retail expanse, offices, a hotel as well as residential service apartments. Strategically located on Jalan Cheras, EkoCheras by Ekovest Bhd provides excellent visibility from a heavily travelled road. A mere nine kilometres from Kuala Lumpur City Centre, EkoCheras is greeted by an extensive network of highways, which include the Middle Ring Road 2, East-West Link, Grand Saga Highway as well as the Silk Highway. Enjoying the patronage of almost 600,000 residents within a five kilometres radius, the mall’s retail component is remarkably impressive. Customers come from a middle-class population representing approximately 154,174 households with a healthy measure of disposable income. With approximately one million square feet of retail space, the mall is expected to address the growing lifestyle needs of the Cheras population and inject greater vibrancy into the neighbourhood. The concept of EkoCheras is a combination of businesses, living areas as well as lifestyle offerings aimed to develop not only in the aspect of providing living spaces, but to also ensure that all needs are met at ones’ doorstep.

This blend of a modern lifestyle shopping mall, a wealth of food, beverage, Cineplex and entertainment outlets that will also hold a modern as well as sophisticated hotel and office suites, should take care of all leisure and business needs of those that would frequent the development in future. The development has a residential component that is spread across a plinth of 11.3 acres with a total of 1,516 units. Unit layouts are offered in studios right up to three-bedroom units offered in a variety of 10 different arrangements for buyers to choose from. Units were sold from RM516,600 at approximately RM730 per square foot (psf). The residential parcel of EkoCheras is targeting for completion in December next year. Ekovest, being in the forefront of the construction industry, has given its commitment to work towards enhancing the sustainability and resilience of Malaysia’s building industry and environment to reduce environmental damage and the maintenance cost of buildings. Some examples of sustainability features of EkoCheras include its finishes, usage of energy efficient lighting, OSD tank, rain harvesting tank as well as a green roof. Currently, the construction site is undergoing the addition of a U-turn that leads to the MRR2 toward Ampang, to further ease the traffic flow. The

1 EkoCheras is expected to be a defining landmark in Cheras for businesses. 2 EkoCheras mall makes a grand opening statement.

development is also accessible through public transportation options such as the MRT that links via a bridge to the mall. The developer would like to ensure that all its residents remain safe at all times by providing a three-tiered security system, which includes access cards, a CCTV surveillance system in strategic areas as well as a parking area specifically for ladies. The mixed-development also enjoys easy access to nearby educational

institutions such as UCSI University, SJKC Taman Connaught and SMK Seri Mutiara. As for government institutions, EkoCheras is located near to HUKM Hospital Cheras and Lembaga Hasil Dalam Negeri (LHDN). As for additional retail options, EkoCheras is located nearby Tesco as well as Leisure Mall. Ekovest Bhd will be holding a signing ceremony in July for its core tenants for the EkoCheras shopping mall targeted to enjoy public access by the end of 2017.

WEDNESDAY 1 JUNE 2016

STARPROPERTY.MY

STARPROPERTY.MY WEDNESDAY 1 JUNE 2016

COVER STORY

STEERING IJM IJM Corp Bhd CEO Datuk Soam Heng Choon

By MAK KUM SHI

makks@thestar.com.my

HILE there are challenging times in the property market, they aren’t as severe compared to previous market downturns. Driving growth in IJM Corp Bhd will become a priority. IJM Corp Bhd CEO Datuk Soam Heng Choon said the group has five core businesses, which are construction, industry, infrastructure, plantations and property. His focus will be on growing the company in the next few years. Every division has been set a target, a key performance index (KPI) to deliver. There is a strategic roadmap for the group to grow for the next five years. Among the priorities include looking at new areas of growth, areas of improvement, and shareholders and staff goals expectations of the company. When taking up the position last year, he was told by a lot of people that he comes on at a time when the economy doesn’t look that rosy and 2016 is expected to be tougher, where gross domestic product (GDP) growth is expected to be 4% to 4.5%. However, he is confident that some of the businesses in the group will still be performing well. He said that there is a very big order book of over RM8.5bil in construction. Plantations is growing in terms of acreage, doubling from 25,000 acres in Malaysia historically to 60,000 acres. “The acreage in Indonesia is now bearing fruit. The majority of the crops are coming in. Current average age is about four years old. In another two to three years, we will be reaching the peak crop production for Indonesia,” Soam added. The infrastructure division has tolled highways in Malaysia and India, as well as one port in Kuantan. “Our focus is to grow the infrastructure business and look for new opportunities to build new highways,” Soam said, adding that the West Coast Expressway is under construction. In addition, the Kuantan Port is being expanded to handle more than 52 million metric tonnes of cargo. The depth of the new port will be about 18 metres. Previously, it handled about 25 million metric tonnes of cargo every year, with a depth of about 11 metres.

With the first phase of the expansion to be completed in two and a half years’ time, ships of up to 150,000 deadweight tonnes can enter the port, compared to 50,000 deadweight tonnes currently. The second phase is expected to be completed in 2019 or 2020. With the robust construction industry, the industry division is expected to do well because it produces spun piles, quarry products and ready-mix concrete. The industry division has nine factories and six quarries in Malaysia. Prior to delisting last year, the market capitalisation of the property division was over RM5bil. Its current land bank is more than 4,600 acres with a gross development value (GDV) of over RM30bil. Its land bank is spread throughout Peninsular Malaysia, Sabah and Sarawak. The company has a few projects located overseas in China, Vietnam, India and London in the United Kingdom. “We always think of giving returns to shareholders in terms of dividends and also growth. Over the years, we try not to go back to the shareholders for additional capital while we expand,” he said. “We consciously monetise some of our assets that have matured, as well as some of the non-yielding assets,” he added.

Comparing property market downturns Looking back into the 1990s, Soam

cited that interest rates for mortgages and inflation rates were at double digits. A lot of people were unemployed. There were also problems with the banks, which didn’t have money to lend. Property prices went down 20% to 30% because there was no demand. Soam added that in 2008, the market had slowed down. This was due to costs problems, where crude oil rose to US$140 per barrel, and also because of the subprime housing crisis. There were fewer players in the market and developers had slowed down their launches.

STARPROPERTY.MY WEDNESDAY 1 JUNE 2016

05COVER STORY

THROUGH SLOWDOWN overcomes challenging times by focusing on growth. “We always think of giving returns to shareholders in terms of dividends and also growth. Over the years, we try not to go back to the shareholders for additional capital while we expand. – IJM Corp Bhd CEO Datuk Soam Heng Choon

A pleasant evening ambience at Bandar Rimbayu.

However, over an eight year period from 2008, there have been more developers in the market. “We have seen a lot of non-core developers coming into this market. We were a bit worried,” Soam said. “It is not so easy being a developer. You need a lot of perseverance and patience. We believe you need long gestation period and high capital investment, compared to doing other businesses.” Compliance to statutory requirements are becoming more stringent and there are a lot more compliance costs that have to be paid. Current housing mortgages rates are still very reasonable at about 4.5%, compared to 14.0% during the Asian financial crisis. However, current day property prices have reached a level where it is more than four to five times the yearly income of the people. In early days, people just need a roof over their heads. Today, people want to look for all sorts of features, including green buildings, high ceilings and various types of finishes. “Some people say there is a property bubble. It is going to burst. I don’t think so. The day you see people throwing properties below market rates by 20% to 30%, that is the day you think the property bubble will be there,” Soam commented.

Overcoming challenging times The property market environment for

buyers and developers alike is challenging. Affordability, consumer confidence and the inability of the buyer to get their desired margin of financing are among the challenges that buyers face. Among the challenges for developers include the rise in compliance and construction costs. Steel bar prices have recently spiked. Land prices have also remained high, and in some areas, they are still going up. Owners still demand a high premium for land in strategic locations. Therefore, there are many reasons why property prices have gone up and making them beyond the reach of the general public. IJM Land is involved in the property market across the board, including

social and affordable housing, mid- and high-range homes. “With the challenging market, we will probably scale down the high-end houses, and focus on the medium and affordable range. I think that is the strategy of most developers,” Soam commented. “For the high-end (properties), we ask what buyers want. Buyers may want yield or guaranteed returns. We try to structure something that suits them. For the affordable housing segment, we look at what is their problem. If they can’t get the margin that they want, the differential sum, we can allow them to pay over a longer period,” Soam said. At the end of the day, buyers are more discerning from whom they buy their homes. “Is it value for money? When I talk about value for money, it is the whole package. I believe that over time, people realise that they must buy from reliable developers, more so during this challenging time.”

“For the affordable housing segment, we look at what is their problem. If they can’t get the margin that they want, the differential sum, we can allow them to pay over a longer period.

STARPROPERTY.MY WEDNESDAY 1 JUNE 2016

MAIN FEATURE

EGERI Sembilan’s property market may remain moderate for a while, but there are several developments that will spur its growth in the next few decades. The National Property Information Centre (Napic) from the Finance Ministry's Valuation and Property Services Department had indicated that the focal upcoming development plan for Negri Sembilan involves upgrading infrastructure and public amenities, based on the 11th Malaysia Plan. Proposed infrastructure developments include Seremban Middle Ring Road Phase 3, Paroi – Senawang – KLIA – Salak Tinggi Highway (SKLIA) and KLIA – Port Dickson Highway. Upgrading of several main roads includes Jalan Utama Bandar Sri Sendayan – KLIA, Jalan Seremban – Kuala Pilah and Jalan Nilai – Salak Tinggi – Lukut – Port Dickson. The Malaysia Vision Valley is another noteworthy development that is taking place in the state. Expected to have a development implementation period spanning 2016 to 2045, RM260bil will be allocated for development expenditure, of which RM5bil has been allocated for the project commencement through Budget 2016. The 108,000-hectare coverage area encompasses Nilai, Seremban and Port Dickson, which will complement developments in the Klang Valley, particularly in Kuala Lumpur and Putrajaya. This long-term development is set to spur domestic and foreign investment, which in turn is expected to drive the property sector. Labu is expected to have a new train terminal to serve the proposed high-speed rail link (HSR) between Singapore and Kuala Lumpur. Negri Sembilan Mentri Besar Datuk Seri Mohamad Hasan said the state government had also suggested that another rail link be built from the proposed station to the KL International Airport (KLIA). This will allow commuters to have easier access to the KLIA and enable faster movement of people. KTM Berhad (KTMB) has plans to revive the 39km SerembanPort Dickson railway line. When ready, thousands of tonnes of cargo and up to 100,000 people can be transported each day. Its plans include a possible cargo hub to serve Malaysia's southern regions. Part of the planning is a southern inland cargo hub that can be developed along the Port Dickson line corridor. KTMB president Datuk Sarbini Tijan said that the line could serve Port Dickson's two refineries and containers coming in from Indonesia.

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

NEGERI SEMBILAN’S Malaysia Vision Valley, Kuala Lumpur High Speed infrastructure projects are expected to drive the

Aerial View of S2 City Park together with the Government precinct and S2 Mosque.

Accessibility driving townships The existence of good transportation infrastructure will play a vital role on the development of Negri Sembilan’s townships, such as Seremban 2. IJM Land senior general manager for central region Hoo Kim See commented, “Started in 1995, Seremban 2 is a 3,800-acre freehold self-contained township offering modern amenities and conveniences of a city while maintaining the grace and serenity of a country atmosphere. “Seremban 2 is strategically located 1km from Seremban toll plaza, 4km southwest of the existing Seremban town centre and about 60km away from Kuala Lumpur. “We saw great growth and development potential in Seremban as at that point of time, rapid development shifted towards south of Kuala Lumpur. “Being the nearest capital town to Kuala Lumpur and Putrajaya, Seremban will experience economic growth from the spillover effect of development southwards of Kuala Lumpur.”

RISING PRICES AND SALES OF NEGRI SEMBILAN’S RESIDENTIALS

Sales Performance

1.5% 2014

60.0%

New development policies Hasan shared that the Negri Sembilan Rural Development Policy 2015-2045 and Modernisation Policy 2015-2045 are expected to be tabled by year-end. The rural development policy is vital to empower rural development with the aim of ensuring people in rural areas would not be left behind in state development. The modernisation policy was formulated to ensure the people's wellbeing would continue to be protected by the government while implementing its planned development projects. Napic had indicated that the new

2015

61.5%

housing policy for Negri Sembilan is set to address the affordable housing issue in the state. The policy formulates, among others, the increase of bumiputra ownership quota from 30% previously to 50%. Every new housing project must ensure 50% (of its units) consists of affordable houses. Of the 50% affordable housing, 15% is to be priced at RM80,000 and below, another 15% priced at RM250,000 and below, and the rest will be priced at RM400,000 and below. The new rulings are expected to give positive impact on the market, particularly concerning affordable housing provision. Another initiative to address the affordable housing issue is Seremban Sentral, which will comprise 3,196 stratified residential units. Hasan had indicated that only a 30% quota was set in areas where the Malay population is not high, such as Temiang, Lobak, Lukut and Bahau.

All-House Price Index

6.9%

Q4 2014

196.4

Q4 2015

209.9

Moderate performance in 2015 There were 20,860 transactions worth RM6.65bil recorded in 2015. This was a decrease of 9% and 1.6% in volume and value respectively when compared to last year’s figures. Market activity across all subsectors except agricultural dropped. Residential, commercial, industrial and development land sub-sectors reduced in volume by 13.1%, 15.2%, 27.3% and 7.4% respectively. In terms of value, industrial, agricultural and development land sub-sectors increased by 2.3%, 18.4% and 18.4% respectively.

STARPROPERTY.MY WEDNESDAY 1 JUNE 2016

07MAIN FEATURE

RISE IMMINENT Rail, development policies and state’s property market over future decades.

Average All-House Price

198,043

Q4 2014

Q4 2015

RM185,339 RM198,043

New Launches

23.7%

Q4 2014

Q4 2015

3,917units 2,989units

Stable residential sub-sector As the state is located next to the Klang Valley, the state’s performance is in part influenced by the latter. Prices of residential property registered stable trends across the districts with positive movements charted mostly for terrace units. The spillover housing demand from the Klang Valley pushed up prices of such units. Houses in strategically located schemes nearby towns, higher learning institutions and commercial centres such as Aeon Seremban 2, Mydin Hypermarket, Tesco Seremban 2 and Palm Mall witnessed price increases. Similarly, prices of stratified properties varied with increases noted in locations with good accessibility. As at Q4 2015, the All House Price Index for the state stood at 209.9 points. This was an increase of 6.9% from 196.4 points in Q4 2014. On the same note, the average All House Price for the state as at Q4 2015 increased to RM198,043 from RM185,339 in Q4 2014. The residential rental market was generally stable with some exceptions. Limited availability of single storey terraces and low-cost terraces led to substantial rental growth as high as 26.0%. Houses located in comprehensive developments and good surroundings were rented out at a higher price. Rental for double-storey terraces in Seremban 3 increased by 27.8%. This was driven by demand from students of Universiti Teknologi Mara (Seremban 3 branch) located nearby. Lower numbers of new launches were recorded in the primary market. Last year, 2,989 units were launched.

Compared to 2014 with 3,917 units, the total was lower by 23.7%. However, sales performance was slightly better in 2015 at 61.5%, compared to 60.0% in 2014. Single and two- to three-storey terraces formed the bulk of new launches. This accounted for 79.1% of the total. Shop overhang situation improved as its numbers eased from 490 units worth RM134.85mil in 2014 to 399 units worth RM120.28mil. This was a reduction of 18.6% and 10.8% in volume and value respectively. The industrial overhang remained at seven units worth RM1.79mil in 2015. Conversely, unsold under construction increased slightly by 1.9% from 106 units in 2014 to 108 units in 2015. The retail sub-sector’s performance sustained as the overall occupancy rate of shopping complexes slightly increased from 76.1% in 2014 to 76.5% in 2015. As at end-2015, there were 83 existing shopping complexes with 441,164 sq m of space with another eight complexes (66,823 sq m) incoming and four complexes (44,097 sq m) in planned supply. The occupancy rate of purposebuilt office stood at 93.4% in 2015. This was slightly lower than 93.5% in 2014 with a positive take-up rate of 1,082 sq m. At end-2015, there were 103 existing purpose-built office buildings (295,483 sq m) with another four buildings (20,248 sq m) incoming and one building (10,839 sq m) in the planned supply. The overall occupancy rate of hotels in the state increased to 47.4% from 44.1% in 2014, according to Tourism Malaysia.

STARPROPERTY.MY WEDNESDAY 1 JUNE 2016

NEW DEVELOPMENT

SEREMBAN 2’S GREAT LIVING ENVIRONMENT

IJM Land Bhd’s leading township development at Negeri Sembilan has a mature community that is conducive to live, work and invest in.

Development project name

Kalista 2 (Phase 1 and 2)

Property type

Executive Apartment

Tenure

Freehold

Total units

314 (phase 1) and 208 (phase 2)

Built-up area

926 – 1,561 sq ft (phase 1 and 2)

By MAK KUM SHI

makks@thestar.com.my

REAT neighbourhoods require constant efforts to nurture. Where accessibility, connectivity, location, security, master plan, community and sustainable development are concerned, Seremban 2 scores high in these factors. More than just a mere township, IJM Land Bhd’s 3,800-acre freehold development is a thriving community with a conducive environment to live, work and invest in. Fostering a strong community spirit, Seremban 2 has regularly organised community events and activities for its buyers, residents and the public at large. Such events include health screening and talks, carnivals, chess competitions, home rehabilitation programmes and safe neighbourhood campaigns with the police. The community also plays a role in environmental conservation. Tree planting campaigns, eco-hunt charity events, smoke-free initiatives at parks and neighbourhood cleaning programmes with residents are held regularly.

Town & Country in One City

Started in 1995, Seremban 2 was intended to become a catalyst in uplifting the Seremban address and become a benchmark for future development in the immediate vicinity. The thriving community is a reflection of the success this development has achieved. Inspired by the "green street" concept of

Developer Name

IJM Land Bhd

Address

P.T. 10786, Seremban 2, 70300 Seremban, Negeri Sembilan

Website

http://seremban2.ijmland. com/

Facebook

https://www.facebook. com/ijmland/

sales@ijm.com

Contact No

1800 222 456

Fax No

+606 7619188

Development project name

Seremban 2

Location

Seremban, Negeri Sembilan

Property

Township

Development

3,800 acres

Educational Institutions

Five national schools • Two Chinese primary schools • Two colleges – Kolej Alpha and Kolej Negeri • One international school (under construction)

Government Institutions

Seremban district police headquarters • State fire & rescue department headquarters • Negeri Sembilan Court Complex • Seremban District Administration Office • LPPKN • Custom Complex • Seremban 2 Health Clinic

Retail, Aeon complex • Mydin entertainment, mall • Business financial and leisure centre • Commercial outlets • 15-acre city park • 30-acre adventure hill park • 34-acre sports complex • S2 Club • Sehat Wellness & Medical Centre Accessibility Infrastructure

North South Highway • ELITE • LEKAS

Artist's impression of Kalista 2.

Canberra, Australia, this fully integrated and sustainable township is distinctive for its open spaces, gardens and beautiful vistas. Befitting the “Town & Country in One City” theme, Seremban 2 maintains the serenity of a country atmosphere while offering the opportunities and conveniences of a city. IJM Land has delivered in excess of 13,000 units of residential and commercial properties. With a population of over 60,000 residents, the township is currently at 70% completion. Upon completion, the township is expected to cater to a community of up to 100,000 residents.

Secure living environment

Since the inception of the township, a series of significant and innovative security features were implemented to create a safe and secure living environment for Seremban 2’s community. Perimeter fencing and guard houses are located at most residential precincts. For newer residential precincts, Seremban 2 has adopted Crime Prevention Through Environment Design Concept (CPTED) Development project name

Rimbun Irama

Property type

2-storey link homes

Tenure

Freehold

Total units

183

Land area

22’ x 70’ and 20’ x 70’

Built-up area

2,224 to 2,451 sq ft

features with the aim to deter criminal activity through environmental design. Such features include subtle bends at strategic locations and road sections to reduce speeding, use of LED street lighting for brighter streets, green areas to separate pedestrian walkways from motorised lanes to combat crime or snatch theft, and concealed drains and other utilities. IJM Land goes the extra mile in enhancing security measures within the township with its own internal security team and patrol car providing scheduled security patrol at strategic points. It also provides assistance and guidance to residents for the setting up of their respective Residents’ Association. While this helps residents to manage their respective guarded enclaves efficiently and effectively, it also creates stronger communities.

Rimbun Irama show house.

Excellent location, accessibility and connectivity

It is worth noting that Seremban 2 has the perfect location with excellent accessibility and connectivity. Strategically located 1km from the Seremban toll plaza and 5km from the newly opened Ainsdale toll plaza, it is a satellite town located 4km southwest of Seremban city. Within this development’s vicinity are excellent transportation infrastructure such as the North South Expressway, Elite and Lekas highways, as well as a toll-free road to KLIA and KLIA 2. Ready to settle down in this ideal neighbourhood? Visit their showroom today!

STARPROPERTY.MY WEDNESDAY 1 JUNE 2016

09NEW DEVELOPMENT

COMMUNITY LIVING AT IJM LAND’S SEREMBAN 2 Owning an affordable landed home within a close-knit community near Kuala Lumpur is possible.

By MAK KUM SHI

makks@thestar.com.my

EREMBAN 2 has been thriving over several years, making it an attractive place to live, work and invest. IJM Corp Bhd CEO Datuk Soam Heng Choon cited that it has been 18 years since the first house in Seremban 2 was handed over in 1998. Twenty-one years have passed since construction started in 1995. “Today, you can still see the people who were our first buyers in those days, coming back to buy our houses for their children. Some of their children who came with their parents in those days are working in Seremban 2. Some of them are even working for IJM Land,” Soam mused. Soam said he received feedback that a lot of residents have gotten their relatives and friends to buy houses in the township. The developer has created a close-knit community and has worked together with residents to form residents’ associations to further the interest of their precincts. People have now realised over the last 10 years that it is much faster to travel from Seremban to Kuala Lumpur. They stay in Seremban but work in Kuala Lumpur. Some carpool every morning and go to the Seremban bus terminal, where over 40 buses leave Seremban, sending them directly to their workplace. A lot of people who work in KLIA are also staying in Seremban 2. They choose Seremban 2 because it has all the amenities that they want.

1 1 Charity cycle event at Seremban 2. 2 Dinosaur Park. 3 IJM Land Bhd central region senior general manager Hoo Kim See.

Township characteristics

With many schools, colleges, entertainment outlets, shopping centres and private hospitals, people don’t mind staying in Seremban. IJM Land Bhd central region senior general manager Hoo Kim See shared that Seremban 2 is well known to the people of Seremban and Negeri Sembilan. It is one of the developer’s flagship townships that consists of 3,800 acres, originally intended to be an extension of the whole Seremban town, which was initiated by the government. The township has several components, including a number of residential units, two shopping malls and commercial banks like Maybank, Hong Leong and CIMB. Hoo said that many people go to the 15-acre city park, which is popular for jogging, games and tai chi. There is also a 30-acre hill park, also known as a dinosaur park, with a number of dinosaurs models already created. The newly opened S2 Club is a family-

themed recreational club with wellequipped gymnasium, fitness classes, badminton courts, swimming pool and a purpose-built kindergarten managed by R.E.A.L Education Group. Soam added that the company is still maintaining the township in respect of the landscapes like the parks and roads. The developer also support community building in the township by organising Raya Concerts and Chap Goh Mei Celebration, a yearly carnival in November, and a community run in August. “We try to add value to the existing facilities. We have brought in all the things

that are required of a township. Whatever the community requires is all there. Not many townships have this. “After so many years, I dare to say our amenities are still in good shape. Even in the city park, you have a lake pond there. We have all these gazebos, people like to go there for birthday parties and dates,” Soam mused. “Because it is a township, we continue to nurture it, that’s what we do. Until today, we have good rapport with the residents’ associations. My Property Maintenance and Management office is there, next to the sales office. Everybody can go and see them,

when they have issues.” Residential property values in the township have appreciated as a result of people staying there. Over the last 10 years, property prices have appreciated by double or more. For example, terrace and semi-detached houses that sold for RM200,000 and RM350,000 in 2005 are currently worth RM600,000 and RM1mil respectively. Soam concluded, “The only place you can get landed properties is further away from the city. In the city, it is very expensive. That is why we encourage people to work in Kuala Lumpur, stay in Seremban.”

STARPROPERTY.MY WEDNESDAY 1 JUNE 2016

FEATURED DEVELOPMENT

SKY ADDRESSES OFFER UNMATCHED LUXURY

Bandar Utama Development creates ideal living via 9 Bukit Utama, Petaling Jaya.

By VIKNESH ASHLEY

vikneshashley@thestar.com.my

BUKIT Utama is strategically located within the affluent neighbourhood of Bandar Utama, a location envied by many and a sanctuary for the privileged few. The RM1.3bil development by Bandar Utama Development Sdn Bhd is targeted at families, investors, professionals. Bandar Utama prides itself to be a modern township with green concepts, located amidst lush landscapes and open parks. It is within close proximity to some of the best conveniences in the Klang Valley. 9 Bukit Utama is a development encompassing a vast 7.5 acres of freehold land in the prime, mature and awardwinning Bandar Utama township, Petaling Jaya, offering spacious residential units that enjoy beautiful surroundings and a resortlike environment. The development consists of three blocks dubbed Aria, Beva and Ceta. Units inside the development are presented with generous living spaces ranging between 2,286 sq ft and 4,719 sq ft, while penthouses range from a grand 7,547 sq ft to 8,250 sq ft. Owning such luxurious built-ups, 9 Bukit Utama has earned the title of “Semi-D in the Sky.” These luxurious layouts provide the perfect homes for larger families that may enjoy personal privacy and solitude within a home, or for dynamic young couples ready to take on the world.

9 Bukit Utama boasts value-added features whereby each and every unit comes with air conditioners, kitchen cabinets, a built-in oven, cooker hood and hob, wardrobes as well as water heaters. Another unique feature of this development is that selected walls within the homes are made of drywall room partitioning, where these walls are structurally tough and smooth, yet can be easily dismantled for versatile reconfiguration purposes. Residents at 9 Bukit Utama can enjoy a variety of lifestyle amenities and facilities, including the lap and leisure swimming pools, a wading pool for the children, badminton courts which also double-up as a multi-purpose hall, tennis court, children’s playground, barbecue area, yoga corner, sauna, and even a skate park zone. Of course, the classic indoor gym is also available for one’s daily fitness needs, fully equipped with top-range gym equipment. There is also outdoor gym and landscaped walkway for those who prefer to sweat it out the traditional way. To top it off, the 24-hour security surveillance system provides residents here with ultimate peace of mind. For the food and beverage connoisseur as well as to those who enjoy frequenting malls, look no further as 1 Utama Shopping Centre is located nearby, the world’s 4th largest mall awarded by CNN, featuring some of the best international and local retail brands and restaurants.

1 9 Bukit Utama, view from Golf Club. 2 Interior look of 9 Bukit Utama.

Located beside 1 Utama Shopping Centre is the One World Hotel, one of Petaling Jaya’s pioneering five-star hotels, offering an ideal stay for guests. Centrepoint neighbourhood mall located within close proximity is another retail encase, also popular among residents for its vast variety of outlets. Bukit Utama also hosts a clubhouse dubbed The Club @ Bukit Utama Golf Resort which also comes with a fully equipped fitness club featuring an Olympicsized swimming pool, gym, racquet gaming facilities, and a function hall ideal for weddings and other events held amongst Bandar Utama and Petaling Jaya residents. Additionally, one can soothe the mind and revitalise the spirit at the nearby Westlake Sanctuary Park or Central Park, or even enjoy a light game of golf at the 9-hole golf course with The Club’s vicinity.

Educational institutions located in the vicinity include the prestigious British International School, First City University College, and several national primary and secondary schools. Bandar Utama also holds many large businesses such as Sri Pentas, IBM, KPMG, the Wawasan Open University administration office as well as a myriad of banks. Getting to 9 Bukit Utama is ease as it is easily accessible and well-connected via a multitude of highways and expressways, namely the Damansara-Puchong Expressway (LDP), Penchala Link, Sprint Highway and other popular highways. Bandar Utama is also a central hub for public transportation and coach terminals, making it a breeze to get to Kuala Lumpur, the Klang Valley area, as well as international airports. Apart from that, the approved Sungai Buloh-Kajang Mass Rapid Transit (MRT) which will be passing Bandar Utama, is currently under construction and is expected to be fully operational by July next year. The developer is currently offering attractive perks to interested buyers of 9 Bukit Utama in the form of free SPA and loan legal fee and additionally offering a complimentary two-year Family Sports Membership at The Club @ Bukit Utama. For a first-hand experience of this prestigious development contact +6037729 8363 / +6016-6626087 or visit www.bukit-utama.com.my.

WEDNESDAY 1 JUNE 2016

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NEW DEVELOPMENT

SECOYA RESIDENCES, NATURALLY DIVINE Unrivalled lifestyle and convenience await at IJM Land and Amona Development’s Pantai Sentral Park, Kuala Lumpur’s One and Only Urban Forest City. By MAK KUM SHI

makks@thestar.com.my

INDING a place that has a conducive living environment and is easily accessible to Kuala Lumpur and Petaling Jaya, Klang Valley’s major economic centres, can be exceptionally challenging. Secoya Residences, a residential development at Pantai Sentral Park, which is jointly developed by IJM Land Bhd and Amona Development Sdn Bhd, is an attractive answer to this challenge. It has a strategic location within the new Golden Triangle, with Kuala Lumpur, Bangsar and Petaling Jaya forming the triangle’s points. Major townships, towns and cities such as Mid Valley City, Bukit Jalil, Bandar Damansara, Bandar Sunway, Petaling Jaya, Kuala Lumpur City Centre and Cheras are within 10km of this development. It has excellent accessibility to various parts of the Klang Valley that is expected to get only better. There are expectations that the future MRT Circle Line will form an interchange with the Universiti LRT station. Travelling from Bangsar to the township through New Pantai Expressway’s upcoming direct link would also be toll-free. With the development being close to Bandar Malaysia, which is expected to be a leading transportation hub in Asia, residents of Secoya Residences can expect unparalleled accessibility to various parts of Peninsular Malaysia and beyond.

Naturally healthier lifestyles

Great green landscapes create better and healthier lifestyles. They also facilitate community development by creating landscape spaces for interaction and bonding experiences, capitalising on each landscape activity. Such natural environments are incredibly rare in an urban setting, but Pantai Sentral Park has this. Touted as Kuala Lumpur's One and Only Urban Forest City, this township is a lush green enclave that is designed along the nature reserve of Bukit Kerinchi, maintaining the natural landscape and terrain of the area so that the natural land fall and water course are not altered. A notable highlight is the linear forest walk on the fringes of the township, which will directly connect residents with the forest. A waterfront site with a manmade lake will serve as an aesthetic feature and a retention pond, populated by various species of fish and adorned with art pieces. The provision of streetscapes fosters pedestrian access and amenities located within safe walking distances. Green connectors and boulevards between residential and commercial parcels provide residents with ample space to engage in health and wellness activities.

A visionary development

Naturally pristine landscapes with excellent accessibility and location form key traits to a visionary township that integrates residential, commercial and recreational elements. The township is a sizeable 58acre development with a gross development value of RM2.5bil. With seven residential and six commercial phases, the entire township is expected to be completed within 10 to 15 years, accommodating approximately 15,000 residents. “Pantai Sentral Park is truly IJM Land’s jewel offering, allowing the group, with our partner Amona Development Sdn Bhd, to create a next generation that truly embraces the core values of ‘People, Planet, Priority’, by nurturing a vibrant and conscientious community and nature-inspired hub,” said IJM Land managing director Edward Chong Sin Kiat. With breathtaking city views to the north and forest and pool views to the south, combined with unparalleled accessibility, location and unspoilt landscapes, Secoya Residences is ready to become your ideal dream home.

Developer Name

IJM Land Bhd and Amona Development Sdn Bhd

Address

2, Jalan Pantai Sentral 1

Website

www.pantaisentralpark.com

pspranger@ijm.com

Contact No

1800 880 456

Corporate Background

IJM Land Bhd, the property development arm of IJM Corp Bhd, has garnered a reputation as one of Malaysia’s premier property developers. Amona Group of Companies is a dynamic Malaysian conglomerate with interests in property development and construction, general trading, telecommunications, technologies and energy sectors.

Development project name

Secoya Residences

Development concept

Urban Forest City

Location

Bukit Kerinchi / Pantai Dalam, Kuala Lumpur

Property type

Condominium

Land title

Residential

Tenure

Leasehold

Development size

3.47 acres

Total units

243

Number of levels

41 levels

Built-up area

1,050 to 1,670 sq ft

Total designs

Number of bedrooms

2 to 4

Price range

From RM877,800

Gross Development Value

RM290mil

Facilities

Infinity-edge and wading swimming pool, Jacuzzi, sunken sundeck, gym, sauna, games room, reading room, multipurpose hall and function rooms, BBQ area, children’s playground and basketball court

Landscape features

Cascading waterfall, The Lake, amphitheatre, paved stage / plaza, fitness station, playground, water features

Accessibility

New Pantai Expressway, federal highway, LDP, MEX, MRR2, Jalan Kerinchi, Jalan Templer, Jalan Pantai Dalam

1 A truly defining natural landmark bordering forest and city. 2 Pristine forests contribute to conducive environments for healthy and better lifestyles for residents of Secoya Residences.

WEDNESDAY 1 JUNE 2016

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STARPROPERTY.MY WEDNESDAY 1 JUNE 2016

NEW DEVELOPMENT

HARBOUR CITY RESORT SUITES, OPEN FOR SALE Industry experts crown this property as one of the most worthwhile investments of 2016. By VIKNESH ASHLEY

vikneshashley@thestar.com.my

ATTEN GROUP, Malaysia’s fastest-growing developer in the southern region, is resetting the benchmark with its multiaward-winning development – Harbour City. Inspired by Malacca’s historic past as an international seaport, the iconic project, shaped like a vast luxury cruise ship, is home to Malaysia’s first 500,000 sq ft indoor and outdoor Ocean Kingdom Water Theme Park, a six-storey aquatic-themed mall offering 800 retail units and three international hotel blocks. The 33-storey marine-themed holiday destination and winner of Best Integrated Development at the iProperty People’s Choice Awards 2016 is already creating significant buzz in the local property scene. Experts have latched on to the abundant opportunities and unique selling points that set the project apart, especially with the launch of the latest phase, Harbour City Resort Suites.

HARBOUR CITY RESORT SUITES

More than just a resort, Harbour City Resort Suites is an experience of premium resort-style living with world-class facilities, beachside ambiance and stunning sea views. For this phase, the developer decided to take the concept a step further with a skyresort concept that features villa-themed rooms, fully equipped with luxurious furnishings to encapsulate everything you desire and more for that perfect island getaway. Anchoring the project is its integration within the vibrant mixed-use development of Harbour City. An entirely self-sustaining tourist-centric hub, Harbour City’s Resort Suites will capitalise on the tourist numbers drawn in by the Theme Park while directing the flow of guests towards the shopping mall. Adding further to its viability and cementing its status as a secure investment is its outstanding location.

MALACCA, A STRATEGIC HOTSPOT

Malacca makes full use of its status as a Unesco World Heritage City, raking in more than 15.7 million foreign arrivals to the state last year. This number continues to increase year-on-year and with it comes the growing demand for quality accommodation. Harbour City Resort Suites, situated on Pulau Melaka, is calculated to attract both local and international guests with its one-of-a-kind concept and seamless hospitality.

Going beyond its historical prominence, the State Government is now focused on globalising Malacca’s Trade, Commerce and Investment sectors. Upcoming large-scale projects such as the RM40bil Melaka Gateway Project, the 66acre Hatten Metropolis and the Mestika Island International Trade Hub will harness international investments and elevate the state into a worldwide arena. Mobilising on transport and accessibility, initiatives such as the upcoming Kuala Lumpur-Singapore High Speed Rail and the extensive upgrades to the Malacca International Airport are in preparation for the influx of global audiences. Solidifying Malacca’s economic progress is its latest international trade and tourism agreement with Guangdong province. Bilateral ties between the two states will open up trade routes and increase access to the vast China markets, and vice versa. This move is calculated to catapult Malacca’s coastal city centre into a world trade hub and standing out among the rampant growth of Malacca is the Harbour City development. With the influx of an international population, Harbour City

Resort Suites is geared towards a higher level of luxury and relaxation, poised on the shores of Pulau Melaka. Pulau Melaka is a pristine man-made island just five minutes’ drive to Malacca’s central business district of Melaka Raya and just 10 minutes from the Unesco World Heritage Zone. Merging the ambiance of an island with the convenience of the nearby urban city centre, the value of the Pulau Melaka area is set to increase with more tourismbased projects following in the footsteps of Harbour City. With a strategic location, unique concept and seamless integration within Harbour City, the acclaimed City of Amusement, Harbour City Resort Suites is indeed a game-changer in Malacca’s hospitality scene. As an investment, the project offers attractive Secured Returns Plans combined with long-term property value appreciation for that all-important security and high yields for savvy investors. To find out more about special discounts and additional investment opportunities, call +6012 719 1818, or log on to www.harbourcity.com.my

1 Harbour City Resorrt Suite aerial view in the evening. 2 Harbour City Resorrt Suite close-up view. 3 Harbour City Resort Suite lobby.

Fast Facts Property type : Hotel Acres of development : 6 Total units : 580 Lot size : 470 – 2,200 sq ft Price range : From RM500,000 onwards Tenure : Leasehold - 2110 Gross Development Value : RM1.8 billion (Harbour City) Launch date : May 14, 2016 Est. date of completion : Q3, 2018 Amenities: • Sky Lobby overlooking the water park podium • Coffee house and Premium Lounge • Multi-function meeting rooms Facilities: • 40m infinity pool, wading pool, family Jacuzzi • Pool Bar and Sky Lounge • Gym and Spa

WEDNESDAY 1 JUNE 2016

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STARPROPERTY.MY WEDNESDAY 1 JUNE 2016

FINANCE

MORTGAGE SUPPORT FOR HOUSE BUYERS Bank Negara's measures to ensure financial stability.

By ANGIE NG

angie@thestar.com.my

OUSING loans or mortgages offered by banks to house buyers present a lifeline to eligible buyers to realise their home ownership quest. It is after all most people’s dream to own at least a house as it is a sign that a person has made good in life. In underwriting mortgage applications, financial institutions have to adhere to the lending guidelines set by Bank Negara that have been put in place to ensure stability in the financial system. In November 2013, the central bank introduced stricter mortgage underwriting guidelines to rein in speculative property buying that has caused house prices to jump by about 20% to 30% within a period of less than three years. The broad cooling measures that have been introduced by Bank Negara for the property sector are the 70% loan-tovalue (LTV) cap on a borrower’s third and subsequent mortgage facility, lowering of the maximum tenure for property loans to 35 years from 45 years, the abolition of developer interest bearing sceheme (DIBS), raising of the real property gains tax (RPGT) and increasing the cap on foreigners buying properties to RM1mil from RM500,000. The more punitive RPGT rates imposed are 30% for profits made from properties disposed of within the first three years of purchase. For disposals within the third to fourth year, the rates are 20% and fourth to fifth year, 15% respectively. Bank Negara said the contributing factor to the rapid increase in house prices over the past few years was the use of marketing tools by developers that included the DIBS. The low RPGT rates also contributed to speculative buying that caused prices to rise. The DIBS not only artificially inflated property prices, but also encouraged speculators to enter the property market with very small capital outlays, the central bank revealed. In its observation on loans to the property market, Bank Negara, in its Annual Report 2015, said the macroprudential and fiscal measures that were in place, such as the LTV measures, responsible lending guidelines, higher RPGT rates and the prohibition of DIBS remained instrumental in maintaining the long-term sustainability of the property market and mitigating potential risks to financial stability. Bank Negara’s Financial Stability and Payment Systems Report 2015 showed that the total exposure of financial institutions to the property market amounted to RM733bil, with about 90% of the exposure related to end-financing for the purchase of residential and non-residential properties. The report pointed out that the annual growth of borrowers with at least three outstanding housing loans – a proxy for speculative buyers – was maintained at a

Bank Negara’s Financial Stability and Payment Systems Report 2015 showed that the total exposure of financial institutions to the property market amounted to RM733bil, with about 90% of the exposure related to end-financing for the purchase of residential and nonresidential properties.

Housing Loans Outstanding 2014

2015p

RM million Commercial banks1

2014

2015p

Annual change (%)

2014

2015p

% share

367,950

411,280

13.1

11.8

86.2

86.0

43,898

50,225

20.9

14.4

10.3

10.5

Bank Kerjasama Rakyat Malaysia Berhad

2,361

2,599

-8.1

10.1

0.6

0.5

Malaysia Building Society Berhad

5,303

5,467

-1.4

3.1

1.2

1.1

714

755

8.3

5.7

0.2

6,430

7,794

28.5

21.2

1.5

1.6

-14.7

-16.3

…

426,725

478,177

13.7

12.1

100.0

Lembaga Pembiayaan Perumahan Sektor Awam (previously Treasury Housing Loans Division)

Borneo Housing Mortgage Finance Berhad Bank Simpanan Nasional Sabah Credit Corporation Total

1 Includes Islamic banks p Preliminary ... Negligible Note: Numbers may not necessarily add up due to rounding Source: Bank Negara Malaysia and various housing credit institutions

Housing Loans Approved 2014

2015p RM million

Commercial banks1

2014

2015p

2014

Annual change (%)

2015p % share

115,628

99,764

3.8

-13.7

89.4

86.2

9,314

9,452

3.0

1.5

7.2

8.2

Bank Kerjasama Rakyat Malaysia Berhad

659

1,113

16.4

68.9

0.5

1.0

Malaysia Building Society Berhad

936

1,113

82.8

18.9

0.7

1.0

130

-23.8

-26.9

0.1

2,703

2,583

6.7

-4.4

2.1

2.2

Lembaga Pembiayaan Perumahan Sektor Awam (previously Treasury Housing Loans Division)

Borneo Housing Mortgage Finance Berhad Bank Simpanan Nasional Sabah Credit Corporation Total

1,610

…

1.4

129,370

115,730

4.1

-10.5

100.0

Includes Islamic banks p Preliminary ... Negligible Note: Numbers may not necessarily add up due to rounding Source: Bank Negara Malaysia and various housing credit institutions

“Bank Negara said the contributing factor to the rapid increase in house prices over the past few years was the use of marketing tools by developers that included the DIBS. The low RPGT rates also contributed to speculative buying that caused prices to rise.

low and stable rate of 3.1%, down from the much higher rate of increase of 15.8% last observed in 2010. Financial institutions include banks, development and selected non-bank financial institutions, insurers and takaful operators. Risk from the residential property segment has been contained given the moderation in aggregate house price growth. This was a result of the various pre-emptive macroprudential and fiscal measures that were implemented since 2010, as well as continued initiatives to increase the supply of affordable housing.

Developers join the bandwagon

Developers have voiced their concerns that housing loan approval rate has dropped sharply to below 40% since the implementation of stricter mortgage loan guidelines by Bank Negara and that some genuine house buyers have failed to get bank financing. They blamed the stricter lending guidelines by Bank Negara for buyers not being able to obtain the financing needed to proceed with their home purchases.

The second half 2015 Property Industry Survey by the Real Estate and Housing Developers Association (Rehda) conducted in 12 states and participated by 159 respondents revealed that more than three quarter of the developers expect to have sales of below 50% in the first six months of their project launch. They cited lack of endfinancing and loan rejections as the main reasons for the unsold units. In the face of sluggish market and weak economy, developers have came up with various sales campaigns and financing schemes to promote property sales. The house buying packages with offers of incentitves are to assist buyers pursue their home purchase plan. On the types of mortgage loans available, a Loanstreet spokesperson shared that at the most basic level, loan packages offered by banks do not differ too widely from each other, although there are some degree of product enhancement and differentiation to suit the current market. For example, some banks offer a certain percentage of cash back (according to property location) to sweeten the deal, while others offer limited time zero moving cost packages (loan legal fees absorbed by banks) with attractive interest rates and higher LTV of up to 95% with insurance and loan legal

fees financed inside the loan, as opposed to the market average of 90% to help buyers reduce entry cost of purchasing property. He said for property priced above RM500,000, a flexi home loan package that is bundled up with high LTV, separated insurance account and competitive interest rate is ideal. The separated insurance account is very convenient if the buyer wishes to settle insurance earlier. “For investment property of not more than six years, we recommend Zero Entry Cost (ZEC) housing loan, where banks absorb the legal fees, stamp duty and valuation fees. The interest rate is a bit higher (starting at 4.75%), but over five years, the total interest expense that the borrower has to pay is actually the same as the loan legal fees had he chosen a conventional loan package. The main difference is that by not paying an upfront legal fee with the ZEC package, cash for other purposes is available,” he added. Before signing up for a mortgage loan, potential borrowers should shop around and compare the repayment terms and interest rates. They can log on to the Loanstreet website at loanstreet.com.my that helps potential lenders compare and apply for loans online, free of charge.

STARPROPERTY.MY WEDNESDAY 1 JUNE 2016

17PROPWALL

JALAN-JALAN CARI PROPERTY A trip involving laughter, giggles, durians and Eco Terraces at Paya Terubong, Penang.

N May 28th the property tour organised by Propwall MarketPlace (propwall. mart) from Menara Star to Eco Terraces, Penang began early in the morning. The day started cool from an earlier light shower and continued to look overcast. We were fortunate that the storm clouds did not make their appearance throughout the trip and sunshine followed us all along the way! A simple breakfast of sandwiches were distributed to all 29 attendees who were headed to Penang on this property tour. The first two property tours were in March and April, respectively. The bus left promptly at 7.15am after the roll call for participants. There was a much needed break at one of the rest stops, which proved to be quite a highlight as fruit produce were showcased and many of those who got off the bus took the opportunity to buy pomelo, mangoes and longans. The King of Fruits– durian, was also available and its pungent scent filled the air. Once back on the bus, the organisers had a pleasant surprise for the attendees:

Eco World, the developer of Eco Terraces, was going to provide a durian buffet to all who were keen. A thunderous applause ensued, proving just how popular the thorny fruit’s golden flesh was. Property blogger and Macquarie Connect Sdn Bhd co-founder Ken Teo was next introduced and he took the opportunity to showcase the various developments in Penang. From the second link towards the island, Teo shared his knowledge of the properties and highlighted the fast pace of development happening on both the mainland and island of Penang. “Industrialisation contributes to 1/3 of Penang’s economic growth,” Teo said, in relation to the large spaces dedicated to the multinational factories and office buildings on both divides. We disembarked at the local food court at Bayan Baru, where many made a beeline for their favourite hawker food. Local Penang delicacies like char kway teow, assam laksa, lor bak and curry mee were available, including Penang coffee and “kek-poh” – a local herbal drink. After lunch, the property tour then moved towards the Eco Terraces development in Paya Terubong. We reached the Eco Terraces site and sales gallery around 2.30pm and was greeted by Eco World sales and marketing head Pui Kim Siew.

The sales gallery building was filled with plenty of natural light, and it housed not only a sample working kitchen for the units being built, but also a scale model of the development, a seminar area, discussion tables and all three show units in their full interior-designed splendour. The presentation by Teo began promptly at 3pm. He shared more data and statistics of the development and growth of Penang. Next up was Eco World sales and marketing executive Wan Ardeena, who shared about the exquisite single block exclusive development. The sharing sessions were completed at 5.30pm and the attendees were then driven to a popular destination to sample the best of Penang durians. As the group was slightly larger than expected, Pui extended an invitation to the group to

visit a durian orchard in Balik Pulau for a second round. After everyone had their fill of durians, we then departed the farm and headed back to town for a light meal before beginning our journey back to Kuala Lumpur. It was a memorable trip that combined the best of Penang: great food, great hospitality, a durian feast that one will never forget and most importantly a great development by a renowned developer at an affordable entry price. To know more about Eco Terraces, please scan the QR code here. To find out more about Propwall’s Jalan-Jalan Cari Property tours, send a text message with your name and email address to Ken 016909-8966 or Ernest 012-333-6636 to be included in our next tour invite.

To know more about Eco Terraces, please scan the QR code here:

bit.ly/EcoTerraces

STARPROPERTY.MY WEDNESDAY 1 JUNE 2016

AREA FOCUS

THE TRANSFORMATION OF SOUTH WESTERN KUALA LUMPUR The big names of the property industry revitalise one of Kuala Lumpur’s first property hotspots.

By VIKNESH ASHLEY

vikneshashley@thestar.com.my

HE South Western Kuala Lumpur area covers Bangsar, leading on to Bangsar South or formerly known as Kampung Kerinchi, including the Abdullah Hukum area, all the way up to the Bukit Kerinchi Hills. Currently, these areas are individually undergoing massive transformation and redevelopment efforts by the established names in the property industry. This locale is interesting as it holds a picturesque backdrop of contouring hills that merge with surrounding land masses, adding to the lure that many property purchasers are attracted to. Bangsar South by UOA Development Bhd is today one of the more favoured townships within South Western Kuala Lumpur. This locale, initially named Kampung Kerinchi, has come a long way from its humble beginnings. The 60-acre fully integrated residential and commercial enclave is centrally located and enjoys excellent Internet connection aside from being a transportation hub. The growing neighbourhood holds a variety of boutique malls, hotels and recreational facilities as well as an award-winning six-acre central park. Since the revitalisation of Kampung Kerinchi, developers such as Suez Capital Sdn Bhd and EUPE Corporation Bhd have all taken part in the blossoming of the now vibrant location. The releases by both these established

property figures in the industry are currently being constructed along the Federal Highway and are dubbed KL Gateway and Novum respectively. As one would venture deeper into Kampung Kerinchi, the hills of Bukit Kerinchi are clearly visible. Here, IJM Land Bhd has set a vision to carve through the forest, creating a forest community that would result in Kuala Lumpur’s one and only urban forest city. This development by IJM Land is dubbed Pantai Sentral Park. The expanse is placed next to a 200-acre forest, designed to seamlessly blend into the forest providing its future residents as well as working community to get as close as possible to nature. As of now, the developer has launched two phases within Pantai Sentral Park and these include Inwood Residences and Secoya Residences. This impressive mixed development by IJM Land is expected to be completed within the next 10 to 15 years. As one would look down from the peak of Bukit Kerinchi, Mid Valley City can be seen. This shopping city is a thriving retail haven that calls the South Western Klang Valley region home. However, the attention grabber in the property industry with regards to this location is KL Eco City by SP Setia Bhd Group. This cutting-edge development beholds a city of tomorrow exuding architectural boldness. The prestigious development will sit on a 25-acre prime plinth of land situated next to Mid Valley City. KL Eco City is the first integrated green luxury

development that will be anchored by prime commercial offices, high-end retail outlets, world-class serviced apartments as well as luxury residential towers. Aside from its stunning appearance, KL Eco City will also become a transportation hub as it is holds connectivity to the Abdullah Hukum station. The Eco City station is a KTM Komuter proposed train station currently under construction. The station primarily functions and is named after KL Eco City. The existing Abdullah Hukum LRT station is located beside the Eco City station and unified connectivity will be implemented in the near future despite the stations being

named differently. As one would move closer toward LRT Bangsar, within walking distance is where a revitalising development is being constructed a stone’s throw away from the popular Bangsar Village Mall. Developed by Hap Seng Land Development (Bangsar) Sdn Bhd, Nadi Bangsar is a luxury freehold serviced apartment located off Jalan Maarof, near to the upscale area of Bangsar. This serviced apartment is targeted for completion at the end of this year and comprises over 400 units of apartments in a single 38-storey block. Unit sizes offered range between 441 sq ft to larger 1,130 sq ft units.

200 acre

This development by IJM Land is dubbed Pantai Sentral Park. The expanse is placed next to a 200-acre forest, designed to seamlessly blend into the forest providing its future residents as well as working community to get as close as possible to nature.

STARPROPERTY.MY WEDNESDAY 1 JUNE 2016

19NEW DEVELOPMENT

HIDDEN GEMS IN NEGERI SEMBILAN Sime Darby Property's range of affordable to high-end products offers diverse choices.

By LEE YAN LI

lylee@thestar.com.my

S a commitment to provide sustainable products to all market segments in the developments in Negeri Sembilan, Sime Darby Property presents vibrant townships that focus on landscapes of vast greenery and fulfil its promise of healthy and sustainable living to the residents. From exclusive high-end products in Planters’ Haven and Chemara Hills to a more affordable housing offers in other townships such as Bandar Ainsdale and Nilai Impian, Sime Darby Property is committed towards complete inclusiveness.

New gateway to Seremban

Moreover, the land for the home to be built on is available from RM28 per sq ft.

The 562-acre Bandar Ainsdale with a gross development value (GDV) of RM2,496mil is designed with doublestorey link homes, semi-detached homes, bungalows, low-to medium-cost apartments and shop offices. Complete with essential amenities and surrounded by nature, the township offers a lush green park which surrounds a sevenacre lake, gated community development, and high-speed broadband services. Residential properties such as Tenang, a 24’ x 75’ double-storey link house with built-up areas from 2,480-2,912 sq ft, and Abadi, a 22’ x 75’ double-storey link house with built-up areas from 1,9482,394 sq ft, provide the ultimate comfort cloaked in the vast beauty of nature. It has direct access to the North-South expressway (NSE) via the Bandar Ainsdale interchange.

Beauty of a landscaped plateau

Chemara Hills is an exclusive 43.68-acre hilltop development strategically located in Seremban, featuring spacious lowdensity residential homes. This niche development places emphasis on security and landscaping. Buyers could choose from exquisite homes such as Castilla, 40’ x 80’ luxury three-storey semi-detached homes with built-up areas from 4,419-5,076 sq ft and Siphonia 2, 26’ x 80’ double storey superlink homes with built-up areas from 2,685-3,675 sq ft. The landscaped plateau which holds a central park offers amazing views for the residents, while the residential area is guaranteed the utmost convenience with amenities and facilities such as amphitheater as community centre, 24hour security services, single exit and entry and alarm system for each house.

Luxurious nature awaits

Boasting an impressive land size of 1,808 acres, Nilai Impian with a GDV of RM5,668mil is also known as a Lake Garden Township. Landscaped lakes, open parks, woodlands jogging and walking paths allow the residents to bask in the serene nature of Nilai Impian, and enjoy the laid-back yet active lifestyle with family and friends. The luxurious homes such as Azalea 2, 24’ x 74’ double-storey link homes with built-up areas from 2,256-2,600 sq ft, are the ideal place to grow your big and loving family, while the six-storey apartments with of Kiara Court with a built-up area of 929 sq ft per unit were meticulously designed to meet the needs of a new family. Nilai Impian is not only within easy reach of Kuala Lumpur and major commercial destinations through NSE, it also holds tremendous potential with schools, colleges, international universities, leisure and medical facilities mushrooming within the surrounding areas.

An orchard heaven

Aiming to create a premium residential communal environment on par with luxurious vacation homes, Planters’ Haven’s 270-acre development features spaciously designed bungalows. Set within a mature orchard land, the low density development with one bungalow unit per-acre ensures the residents are privileged to wonderful offerings of Mother Nature and enjoy the blessings of a simple yet comfortable life. Amenities include infinity pool, tennis courts, gymnasium, multipurpose hall, playground, barbecue areas and 5.6km of pathways designed for walking and jogging. The development of RM132 mil GDV includes eight Tropical or Mediterraneaninspired bungalow designs. The built-up areas start from 4,721 sq ft-7,122 sq ft.

1 Artist’s impression: Tenang at Bandar Ainsdale is one of the notable residential offerings of Sime Darby Property. 2 Planters’ Haven: An exclusive residential community that offers peaceful living, yet close to urban centres. . 3 Chemara Hills’ Castilla is a luxurious threestorey semi-detached homes that are finely designed with large windows and spacious living areas.

It is easily accessible from the NSE through the Seremban Interchange via Jalan Sungai Ujong and Lingkaran Tengah Seremban. With the launch of the Lifestyle Collection 2016 campaign in April, Sime Darby Property introduced the Value Investment Privileges (VIP) Fast Track Program to help the public own their dream property. Despite the challenging outlook for the property market, Sime Darby Property has successfully recorded a take up rate of 95% and 94% respectively within a day of the launch of Elmina Valley phases 1 and 2 in the Klang Valley, proving there are still ample demand for properties in prime areas as well as affordable landed properties. With over 28,000 acres of landbank in Negeri Sembilan, Sime Darby Property is able to plan comprehensive facilities and infrastructure that could spur the growth of other developments such as education, medical, sports and leisure clusters. With these hidden gems in Negeri Sembilan waiting for the right buyer, Sime Darby Property strives to establish its developments as an important element of Greater KL.

STARPROPERTY.MY WEDNESDAY 1 JUNE 2016

INTERNATIONAL DEVELOPMENT

CAMBODIA’S THRIVING BODAIJU RESIDENCES

Creed Group is establishing a tranquil and luxurious living address on the Russian Boulevard, Phnom Penh’s prominent neighbourhood.

By MAK KUM SHI

makks@thestar.com.my

S a developing country, Cambodia is expected to thrive in coming years. Construction and transportation infrastructure development are expected to play crucial roles in the country’s development. Knight Frank Cambodia research and consultancy manager Sofia Perez cited that Cambodia’s economy is expected to expand by approximately 7% in 2015 and 2016. The economy is increasingly driven by growing domestic demand, with the construction industry being one of the main contributors to gross domestic product during the first nine months of 2015. According to the Ministry of Land Management, Urban Planning and Construction, during the first nine months of 2015, investments in the real estate and construction sector had a combined worth of US$1,752mil during the corresponding period of 2014, equating to an annual increase of 13.8%. The top five investing countries were South Korea, China, Japan, Britain and Malaysia, indicating that the majority of investment inflows into Cambodia still originate from countries within Asia.

possibility of having trains to Singapore. Cambodia Chamber of Commerce advisor Ho Vandy said the new connection will increase tourist arrivals from Thailand, and give Cambodians a low-cost and quicker option of travelling to Thailand for business or pleasure. This development implies further economic growth for Phnom Penh and Cambodia.

A tranquil living address

Rising at the heart of transforming Phnom Penh is Creed Group’s Bodaiju Residences. The development is strategically located on Russian Boulevard, a prime location of high real estate value. Its close proximity to major amenities and noteworthy landmarks such as the Phnom Penh International Airport, Phnom

Penh Royal Railway Station and Lion Mall makes this development an ideal place to live in. What makes Bodaiju Residences unique is its beautifully crafted estate that is generous in space, design and natural splendour with a wide variety of foliage and greenery emulating an urban meadow. A green estate set within beautiful and contemporary landscaped gardens, this development offers a balance of luxurious modern living in the heart of nature. Elegantly crafted landscapes and lush exterior garden decks complement the smartly designed interiors with contemporary aesthetics. Its design is a statement of sophistication that captures details of luxurious modern living. Ready to make the investment of a lifetime? Contact GS Realty, the marketing agent for Bodaiju Residences, for more details. 1&2 Illustration of Bodaiju Residence Interior. 3&4 Bodaiju Sales Gallery in Phnom Penh.

Asian integration

Phnom Penh is expected to thrive with the development of a railway line from Bangkok to Cambodia’s capital. This project is part of the eastern corridor of the Singapore-Kunming Rail Link, a key link in increasing connectivity among Asean member states. The Cambodian government will focus on completing a 6.5km railway stretch between Poipet and Sisophon by mid-year 2016. After this, they will also look at running trains from Phnom Penh to Sisophon, as well as looking into the

Developer Name

Creed Group

Address

#269 Russian Boulevard, Sangkat Kakab, Khan Porsenchey, Phnom Penh

Website

http:http://www.starproperty.my/ property_profile.jsp?r=9520918211 9&did=574c1308b108f5.32084560 &id=574c14d0737ca5.25309013&p roject=574c14d0c272a40c1f16c6f6

Facebook

https://www.facebook.com/ gsrealtyinternational/

Contact No

012-3474900 (Crystal), 011-33985593 (Sue Wen)

Corporate Background

Founded in Japan in 1996, Creed Group is a real estate firm which specialises in principal investment and property development.

Development project name

Bodaiju Residences

Development concept

Greenery lifestyle condominium

Property type

Condominium

Tenure

Freehold, Foreign Ownership Eligible

Size of Development

23, 530 sq m

Total units

928

Built-up area

65.6 – 143.4 sq m

Total designs

Number of bedrooms

1–3

Number of bathrooms

1-2

Estimated date of completion

Tower C – August 2018

Development project’s unique selling points

First and biggest Japanese residential development in Cambodia • Along Russian Boulevard, next to Phnom Penh International Airport, Phnom Penh Special Economic Zone and upcoming Parkson Mall

Educational Institutions

Royal University of Phnom • Penh Campus 2 (RUPP) • Royal Academy of Cambodia • University of Cambodia • Northbridge International School Cambodia (NISC) • Limkokwing University of Creative Technology • CIA First International School • Cambodian Mekong University • Royal University of Phnom Penh (RUPP) • Phnom Penh International Hospital • Sen Sok International University Hospital

Government Institutions

Cambodia National Immigration Department • Pochentong Pagoda • Ministry of Commerce • Attwood Business Centre • Cambodian Country Club & Hotel • The Central Market • Independence Monument

Retail, Parkson Mall (Lion City) • Outlet entertainment, Store • Pochentong Market • and leisure Rathana Plaza Mall • TK Avenue Facilities

Infinity sky and children’s play pools, gym, jogging track, roof top garden, garden pavilion, sun deck, yoga meditation space, Japanese garden, eco bridge, pebble walk, barbecue pit with al fresco dining, forest café, club house, mini mart, kindergarten

Interior design concept

Contemporary & Simplistic with branded fittings such as TOTO

WEDNESDAY 1 JUNE 2016

STARPROPERTY.MY

STARPROPERTY.MY WEDNESDAY 1 JUNE 2016

INTERNATIONAL MARKETS

SINGAPORE MARKET’S FIRM FUNDAMENTALS

The property market and economy have remained resilient despite a slowdown. By MAK KUM SHI

makks@thestar.com.my

INGAPORE is currently experiencing slow economic growth and a slowdown in its property market. However, long term positive demand for new homes reflect underlying economic and property market resilience. Affin Hwang Asset Management Bhd senior portfolio manager Chow Kar Tzen cited that Singapore’s economy has been soft due to weak external demand. Manufacturing activity has remained in contraction for 10 consecutive months, with the latest Purchasing Manager Index (PMI) for April coming in at 49.8, a slight increase from 49.4 in March. The slow growth environment is expected to continue for Singapore’s economy as cyclical factors continue to put a dampener on growth. The government is still maintaining its 1-3% gross domestic product (GDP) growth target for 2016. However, Monetary Authority of Singapore’s (MAS) recent decision of shifting the Singapore dollar from a gradual appreciation stance to a zero appreciation stance took the market by surprise and this policy easing move signals that they are expecting slower growth for the foreseeable future. Domestic demand is likely to remain soft as wage growth is also likely to slow amidst a tepid employment environment.

Property market downturn

Chow commented that Singapore’s property market is experiencing a down cycle with

home prices having declined by 9% from its peak in 2013 and rental rates having fallen for 10 consecutive quarters due to measures put in place by the government. Further property price cuts by developers are expected with mixed takeup rates and ample supply in the market. Property prices are expected to fall by at least 15% before the government will step in to relax some of the cooling measures that they have put in place.

Attractive to live and work in

Despite these challenges, Singapore remains an attractive place to live, work, invest and do business in. Chow commented that the country is safe, liberal and developed. The ease of mobility within the country and connectivity to various other countries in the region make Singapore a key regional and global hub for companies to conduct business. Singapore also has good education and healthcare systems and reasonable cost of living. This attracts foreign talents to work in the republic. The government continues to be supportive of businesses, with the recent budget announcement in March revealing a number of measures in support of transformation and innovation of enterprises and specific industries. “With a resilient Singapore economy and policies to support population and economic growth, demand for new homes in the long term remains positive. CapitaLand Singapore will continue to acquire well located sites through government land sales tenders and private

1 CapitaLand's Cairnhill Nine receives strong response from the market. It was the top-selling project in Singapore in March 2016. 2 Singapore remains an attractive place to live, work, invest and conduct business.

en bloc sales to build our pipeline for the long-term,” CapitaLand Singapore chief executive officer Wen Khai Meng said. Wen added, “We will also continue with our strategy to build well-designed smart homes of varying designs, layouts and sizes that cater to the needs and preferences of homebuyers from different market segments, based on the locations of the sites. We will also assess market conditions and tailor our marketing and sales strategies accordingly. Citing good performance in CapitaLand’s residential sales in Singapore in 1Q 2016, the developer received strong

interest for Cairnhill Nine in Singapore with 193 of the 268 units sold as at April 14, 2016. Located in the heart of Orchard Road, the residential project offers a myriad of luxurious facilities conducive for recreational activities and community bonding. “Buyers of Cairnhill Nine are drawn to the prime Orchard Road location, premium finishing and attractive pricing. About 50% of buyers are Singaporeans, while the remaining 50% are from Indonesia, Malaysia and China,” Wen concluded.

STARPROPERTY.MY WEDNESDAY 1 JUNE 2016

23STARPROPERTY.MY FORUM

PRIME INVESTMENT FORUM 2016 A SUCCESS

Property experts enlighten investors on property market. By VIKNESH ASHLEY

vikneshashley@thestar.com.my

VER 400 registrants showed up at the recent Prime Investment Forum held at the Oak Room, Nexus in Bangsar South. The attendees of the event were of those concerned about the state of the Malaysian property market. The forum was held by StarProperty,my, sponsored by Mah Sing Group Bhd. Some of the Mah Sing developments presented at the Prime Investment Forum included Ferringhi Residence and SouthBay City in Penang. Central region developments were Cerrado residential suites from Southville City in Bangi and Lakeville Residences in Taman Wahyu, Kuala Lumpur. “We have a range of properties in the northern region and scattered areas in Kuala Lumpur. The forum has brought together all of our astounding offerings to property investors,” said Mah Sing Group Bhd sales and marketing director James A. Bruyns. Bruyns commented that there isn’t a good or bad time to invest and if one has the means to invest, one should go ahead. He added, “Investing in property is a good way to also build up the market sentiment, especially when people are still investing, where there are good take up rates as well as good property products.” Advocate and solicitor, tax and GST consultant Dr Choong Kwai Fatt commented that “in order to purchase a property, one should first select a developer that has a good track record. This is the first assurance of a successful property investment”. He added that now is the best time to buy a property. If the currency drops in value in future, it will be harder to purchase properties. Therefore, while the Malaysian currency still holds good value, it is best to invest right away. Chur Associates founding managing director Chris Tan stressed that property buyers are living in the era of the best home owner protection possible, where incentives and attractive financing plans are provided to genuine homebuyers. Tan added, “Property investment is low-risk and is one of the most important portfolios, even for richer and successful nation groups, as property investment is tangible and is constitutionally guaranteed.” As for first-time homebuyers, Tan advises that it is always best for each individual to own their very own home, only if they can afford it. Tan added that property investment is one of the methods to overcome inflation due to property appreciation.

STARPROPERTY.MY WEDNESDAY 1 JUNE 2016

STARPROPERTY.MY FORUM

BACK TO THE BASICS A simple guide to home ownership.

FUNDAMENTALS OF HOME OWNERSHIP Date : 18th June 2016 (Saturday) Time : 1:00pm-5:30pm Venue : i-Gallery @ i-City Sponsored by

By LEE YAN LI

lylee@thestar.com.my

N these uncertain economic times, many might find themselves in a predicament when they are struggling to look for a place to call home. Although it is best to aspire for financial stability at the start of the career, those who struggled to buy a house could still turn their situation around through diligent research, proper planning and acquiring practical knowledge. Take the first step and join us at the property forum titled “Fundamentals of Home Ownership”, sponsored by i-City, on June 18(Saturday), from 1:00pm to 5:30pm at i-Gallery, i-City. Experts in the property industry field will walk you through the process of acquiring a home by introducing the basic yet important fundamentals of buying a property. The esteemed speakers include Hartanahguru.com founder Abdul Aziz Ahmad, VKA Wealth Planners Sdn Bhd licensed financial planner and business development director Ang Chee Yong and REI Group of Companies chief executive

director Dr Daniele Gambero. On the topic of “Why you should consider property as part of your investment?”, Ang will be discussing the differences of main asset classes that are mainly classified into cash, fixed deposits, properties and shares. With the understanding of what to expect from the different asset classes, one is best positioned to decide which types of investments best suit one’s needs and investment timeframe. As a licensed financial planner with more than 10 years of experience, Ang said property investment in Malaysia has seen one of the biggest bull over the last five to seven years. However, to avoid property investment from becoming a financial burden due to unforeseen circumstances, the public has to be well informed and well prepared on certain issues, including the availability of Mortgage Reducing Term Assurance (MRTA) and Mortgage Level Term Assurance (MLTA). Aziz Ahmad will be sharing tips with the audience on where to find suitable properties in uncertain times with his topic “How Shah Alam is connected to Greater KL.” In his opinion, one has to look back

1 I-Bhd’s flagship project of i-City has become one of the iconic landmarks of Selangor. 2 Hyde Tower with London themed ID. 3 Parisien Tower with French themed ID. 4 Liberty Tower with New York themed ID. 5 i-Suite overlooking the theme park. 6 8KiaPeng, King of the Hill@KLCC. 7 i-Soho rooftop infinity pool. 8 Ang Chee Yong, licensed financial planner. 9 Abdul Aziz Ahmad, founder of Hartanahguru.com. 10 Dr Daniele Gambero, CEO of REI Group of Companies.

to history centuries ago and assess the locations that grew and develop fast. As those who chose the right locations have managed to make large profits in properties, it is worthwhile to learn what makes these locations strategic for property investment or home ownership. At the forum, Aziz Ahmad will reveal this secret of spotting the right location. Last but not least, Gambero will be presenting on the topic of “Western Klang Valley's property market now and tomorrow”. He noted the transformation of Klang Valley in the past 20 years is the indication of the way property prices are moving, as well as how value trends have been following

the development of new infrastructure. The issues that he will be discussing with the audience include further expansion possibilities, possible directions of development in the next 10 years, the main drivers for a healthy growth of demand and the future hot spots. As a veteran in strategic marketing consultancy, Gambero will be presenting updated statistics including actual purchasing power and wealth distribution during the talk. For registration or more information, visit www.starproperty.my/forum.