SUNDAY 15 FEBRUARY 2015
ER W O T N E I PARISModern iving L c i t n a m Ro ckons Be P03
RM800mil Heart of i-CITY CentralPlaza@i-City
Thailand's biggest mall operator comes to Shah Alam. P03
INSIDE THIS ISSUE
COUNTDOWN TO THE FIRST STARPROPERTY.MY FAIR JOIN US AT FOUR POINTS BY SHERATON PUCHONG FOR AN EXCITING SHOWCASE OF LATEST DEVELOPMENTS.
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THE RISE OF NEW TOWNSHIPS
THE Southern SOUTHERN push PUSH The
CLUSTERS of OF fresh FRESH developments DEVELOPMENTS Clusters ARE slowly SLOWLY but BUT surely SURELY taking TAKING pride PRIDE are OF place PLACE in IN shaping SHAPING the THE skylines SKYLINES of OF of THE future, FUTURE, further FURTHER and AND further FURTHER the AWAY from FROM the THE city. CITY. away
WE all ALL live LIVE in IN a A fast FAST moving MOVING We SOCIETY which WHICH results RESULTS in IN stress STRESS society AND tension TENSION – almost ALMOST beyond BEYOND the THE and LIMIT that THAT one ONE can CAN take. TAKE. limit
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www.starproperty.my
P10 www.facebook.com/starproperty.my
STARPROPERTY.MY SUNDAY 15 FEBRUARY 2015
02
PROPERTY NEWS
Countdown to the first StarProperty.my Fair for 2015 Four Points by Sheraton Puchong 6 - 8 March 2015 11am - 10pm
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ITH the first StarProperty.my Fair for the year being just weeks away, participating developers are in preparation mode as they put the finishing details in place in anticipation of the upcoming property showcase in Puchong. The participating developers include IJM Land Bhd, Tropicana Corporation Bhd, Matrix Concepts Holdings Bhd and Mah Sing Group Bhd, followed by other exhibitors such as Eng Han Property Sdn Bhd, Plenitude Permai Sdn Bhd, Titijaya Land Bhd and UEM Sunrise Bhd, amongst others. Visitors to the fair will be able to view an exciting showcase of properties that include developments such as Bandar Rimbayu Periwinkle, Shah Alam; Tropicana Metropark, Subang Jaya; Bandar Sri Sendayan, Seremban; H2O@Ara Damansara,Subang Jaya; Putra Prima, Puchong; Taman Rasa Sayang, Petaling Jaya and Verdi Eco-Dominium, Cyberjaya and more. IJM Land’s Bandar Rimbayu representing a premier township development will boast tranquil green surroundings on a 1,879-acre (760ha) site. Bandar Rimbayu that comes with a gross development value (GDV) of RM11bil will be an iconic mixed development comprising residential, commercial, recreational and parkland components. Its integrated township development with its residential, commercial and recreational components will spread over four precincts, namely Flora, Fauna, Bayu and the commercial hub. Its strategic location is enhanced via five major highways linking to Kuala Lumpur City Centre, Subang, Petaling Jaya, Damansara, Puchong, Shah Alam and Klang Valley. Tropicana Corporation’s Tropicana Metropark, meanwhile, will take pride of place in the exclusive neighbourhood of Subang Jaya. It is envisioned to
Premium Partners
Over RM
30 thousand
worth of Senheng & StarProperty.my cash vouchers up for grabs!
become an affluent, self-sustained satellite township with a comprehensive range of educational, medical, commercial and public infrastructure. Located a mere 30 minutes away from the Kuala Lumpur’s city centre, Tropicana Metropark will also be connected to public transport in the form of an adjacent KTM (Keretapi Tanah Melayu) station. The urban and convenient lifestyle will be further enhanced with a proposed direct link bridge connecting Federal Highway to Tropicana Metropark, ensuring a fast and easy commute for residents, workers and visitors. Matrix Concepts Holdings’ Bandar Sri Sendayan development, meanwhile, will redefine living expectations with its spacious homes matched by affordable pricing from approximately RM183 per sq ft, making this a value-added lifetime investment. At Bandar Sri Sendayan, the residential enclave is designed to be surrounded by comprehensive amenities such as Matrix global schools, d’Tempat country club, d’ Tempat boutique hotel, Sendayan merchant square, Sendayan MetroPark, Sendayan green park, Sendayan sports complex, petrol station, local schools, hypermarket,
convenience stores and many more to cater to residents’ lifestyle needs. Mah Sing Group’s Icon City situated in the heart of Petaling Jaya will represent the embodiment of a contemporary lifestyle that takes into account a balanced live, work and play concept with its emphasis on architecture existing alongside a green and sustainable development. Icon City aspires to be a city for those who seek to enjoy a comfortable yet stylish lifestyle be it work, play or enjoying the latest retail offerings – all nestled in an integrated development. This three-day StarProperty.my Fair that will be held at Four Points by Sheraton Puchong from March 6 to 8 opens from 11am to 10 pm. Running concurrently with the event on March 6 to 8 from 1pm until 6.30pm will be talks by renowned property experts. These will include presentations by Real Estate Malaysia Media’s Jacky Cheng, Canaan Building Inspection & Rectification Services’ Joshua Kang, ID King Academy’s Adrian Wee, property strategist, bestselling author and international speaker Ahyat Ishak, Freedom Venture PLT’s Ng Kee Peng,
IQI Holdings Sdn Bhd’s Alexander Woo, Chur Associates’ Chris Tan, SwhengTee International Investment Alliance’s Eric Lee, Vasthu Sastra’s T. Selva, REI Group of Companies’ Dr Daniele Gambero and BDO Malaysia’s Christopher Low – covering issues related to the Malaysian property market, GST (goods and services tax) and more. Adding to the excitement is the over RM30,000 Senheng cash voucher giveaway conducted by StarProperty.my. Up for grabs for visitors who purchase their dream homes at the Puchong Fair are cash vouchers worth RM888, RM2,888 and RM5,888. The lucky draw will be held at the StarProperty. my booth on March 8 at 9pm. The StarProperty.my Fair will be held in six venues throughout the year. The first fair will be held in Puchong, followed by Penang, Petaling Jaya, Shah Alam, Johor Baru and Kuala Lumpur. For more information on StarProperty. my Fair, call 03-79671712/1713, or visit fair.starproperty.my. Admission to the fair at Four Points by Sheraton Puchong (11am to 10 pm from March 6 to 8, 2015) is free.
TALKS SCHEDULE
Puteri Grand Ballroom, Four Points by Sheraton Puchong SESSION SPEAKER TOPIC Friday (6th March 2015) 1:00pm - 2:00pm
Jacky Cheng
Property Market Overview
2:30pm - 3:30pm
Joshua Kang
Increase the value of your property thru building inspection
4:00pm - 5:00pm
Adrian Wee
Save money before you get your keys
5:30pm - 6:30pm
Ahyat Ishak
Seven mistakes in buying property
Saturday (7th March 2015) 1:00pm - 2:00pm
Ng Kee Peng
Tax awareness in property investment
2:30pm - 3:30pm
Alexander Woo
Maximise your borrowing capacity
4:00pm - 5:00pm
Chris Tan
Busting the myth of GST
5:30pm - 6:30pm
Eric Lee
Back to basics: Five keys to succeed in property investment
Sunday (8th March 2015) 1:00pm - 2:00pm
T. Selva
Vasthu Sastra (Indian feng shui) and pyramid energy for health, peace, happiness and prosperity
2:30pm - 3:30pm
Dr. Daniele Gambero
The Malaysian property market and the propenomy of investment grade products
4:00pm - 5:00pm
Adrian Wee
Save money before you get your keys
5:30pm - 6:30pm
Christopher Low
What you need to know about GST
Talks schedule is subject to changes, log on to fair.starproperty.my/puchong2015
IJM Land Berhad, the property development arm of IJM Corporation Berhad, has garnered a reputation as one of Malaysia’s premier property developers. Through the years, they are honoured to have shaped Malaysia’s property landscape and built thriving communities that are well into the future. The company’s vast portfolio includes townships, sustainable developments, iconic waterfront community, luxury homes, landed and high-rise residences, offices and commercial properties in prime areas of Penang, the Greater Kuala Lumpur, Seremban, Johor, Sabah and Sarawak. Its global footprint extends to Vietnam, China and the United Kingdom.
Tropicana Corporation Berhad brings together a range of diverse companies devoted to the same ideals – to deliver value to our customers and investors by creating quality developments in which people want to live, work and play. After more than two decades in the property industry, and having pioneered residential resort-style living with the advent of Tropicana Golf & Country Resort, Tropicana established a development DNA that sets it apart. This DNA focuses on accessibility, connectivity, innovative concepts and designs, generous open spaces, amenities, facilities, multitiered security and quality.
Matrix Concepts Holdings Berhad aims to set the benchmark in nurturing environment and enriching lives by being a caring and communitydriven developer. The company strives to consistently exceed customers’ expectations through delivering par excellence products and professional services. This is to ensure continuous growth for both the business and stakeholders, eventually creating and enhancing shareholders’ value and fulfillment of our corporate social responsibilities.
STARPROPERTY.MY SUNDAY 15 FEBRUARY 2015
03FEATURED DEVELOPMENT
PARISIEN TOWER: modern romantic LIVING BECKONS T HE year 2014 had been good to i-Berhad of the i-City fame. Last November, its New York-themed high rise residential tower, Liberty Tower, was unveiled to astounding success by managing to achieve 80% sales during the official launch. Following in the blazing footsteps of Liberty Tower, i-Berhad is set to release the next phase of the Icona Series to the public early this year. Parisien Tower @ i-City will be the second themed freehold residential tower in i-City. Be prepared to discover the beauty of modern romanticism in this luxuriously glamorous residential tower. As the name suggests, the developer aims to bring a touch of alluring Paris to i-City and provide only the best of an urban artisan lifestyle through the carefully selected furnishings and décor. Each unit is fully furnished and charmingly decorated by mixing old school and modern French architecture to give residents an authentic Parisian feel. Travelling long distances and braving Kuala Lumpur’s infamous traffic jams for one’s dining or shopping needs will no longer be an issue. Set to open in 2017, the 1.5 million sq ft Central Plaza Mall is located just a delightful stroll away and is conveniently connected via a dedicated pedestrian walkway. Direct access to over 450 retail, dining and entertainment outlets will ensure that residents will have all the ease they need to do just about anything their heart desires. Parisien Tower @ i-City is also linked to the i-City LRT Line 3 which gives residents efficient connectivity. Instead of driving to the destination, one can simply hop onto the train at the LRT station in i-City. The LRT Line 3 will link Bandar Utama to Klang and is expecting completion in 2020. If one prefers to drive through the city instead, i-City is accessible via several highway
“Each unit is fully furnished and charmingly decorated by mixing old school and modern French architecture to give residents an authentic Parisian feel.
1 A view of the living hall at Parisien Tower. 2 Another view of the bedroom at Parisien Tower.
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connections such as the Federal Highway, NKVE, Guthrie Corridor Expressway and the proposed West Coast Highway. In addition to that, there is direct access to the Central Boulevard of i-City via a dedicated flyover from the Federal Highway, making it an easy and straightforward entry into the township. With a completion date in 2018, Parisien Tower presents an exclusive opportunity for residents to stay in a truly international hub. With MSC-certification,
i-City is set to be a self-sustaining ultrapolis with future developments comprising education, leisure, business and beyond. Don’t miss out on the chance to be a part of the grandeur and splendour of the Parisien Tower @ i-City, where its residents are promised the best and true taste of a vibrant metropolitan city life. Parisien Tower @ i-City is now open for booking. For more information, call +6016233 8739 / +6014-968 9040 or visit www.icona-icity.com.my.
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RM800mil heart of i-City
C 1 1 Upon completion, the CentralPlaza @ i-City shopping mall will be the largest shopping centre in Shah Alam. 2 CPN chief executive officer Preecha Ekkunagulas (right) was briefed by I-Berhad deputy chairman Datuk Eu Hong Chew during their visit at i-City.
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ENTRAL Pattana Public Company Ltd (CPN), a renowned Thai mall specialist, is reviewing upward its investment in CentralPlaza @ i-City super regional mall project to RM800mil. The upward review on the project which boasts a gross floor area of 1.5 million sq ft is in tandem with meeting more demanding market requirements, according to Preecha Ekkunagulas, chief executive officer of CPN. “We are contemplating raising our investment notwithstanding the expected decline in construction material prices due to the current economic situation,” Preecha Ekkunagulas points out during a stop-over at i-City to inspect the on-going development of the project. “This is to ensure that CentralPlaza @ i-City meets both expectations as a shopping haven with a regional pull as well as to provide for better integration with the rest of i-City,” he adds. Both parties have entered into a joint venture (JV) agreement to jointly develop the project with potential Gross Development Value (GDV) of RM580mil, last year. CentralPlaza @ i-City shopping mall is being devel-
oped via 60:40 joint venture between CPN and i-City. Under the terms of joint venture, CPN will take the lead in developing, leasing and managing the mall, thereby enabling I-Berhad to focus on the development of other properties in i-City as well as on its leisure business. The development of i-City’s commercial property component is poised to receive a great boost with the participation of CPN, which is making its maiden foray into Malaysia. Due for completion in end 2016, the CentralPlaza @ i-City would cater to a sizeable market close to 700,000 of Shah Alam‘s population and some 900,000 of Klang’s population. Upon completion, the CentralPlaza @ i-City shopping mall will be the largest shopping centre in Shah Alam. “CentralPlaza @ i-City is part of our tourism destination master plan for i-City,”commented Datuk Eu Hong Chew, deputy chairman of I-Berhad, the master developer of i-City. “The other components of this master plan consist of 25-acre theme park known as Leisure park, three hotels, a performing arts centre and a convention centre,” he said.
STARPROPERTY.MY SUNDAY 15 FEBRUARY 2015
04
FEATURED DEVELOPMENT
Transforming the heart of PJ A reflection of Petaling Jaya’s growing air of sophistication, PJ Midtown promises an all-in-one lifestyle experience that is not to be missed.
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NCE a rustic residential township, Petaling Jaya’s rapid urbanisation has seen a significant number of sophisticated commercial and residential developments feature in its landscape. One such project is PJ Midtown, an integrated project comprising retail units and trendy serviced suites located across 5.5acres (2.22ha) of land that offers a myriad of lifestyle, leisure and recreational facilities. Situated in the heart of Section 13, Petaling Jaya, PJ Midtown is at the epicentre of the city’s commercial hub complemented by a wide array of lifestyle centres, corporate offices, leisure and entertainment facilities as well as an abundance of public amenities within convenient distance. It enjoys excellent connectivity via major road networks and commuting options such as the upcoming MRT (mass rapid transit) services and the existing Putra LRT (light rail transit) line. In line with meeting the eco-friendly building standards encouraged by the government of Malaysia, the project is a Green Building Index (GBI) goldcompliant development that will utilise a state-of-the-art energy management system to optimise energy efficiency as well as a rainwater harvesting system to reduce portable water consumption. The specially designed façade with shading features reduces heat penetration and offers a cooling and comfortable home environment. The development’s single loading concept also allows ample natural ventilation and sunlight into the living spaces. The development offers an unparalleled experience in city living amidst green vistas and elegantly manicured landscaping. One of its highlights is the bright and airy centre courtyard which will be located in the heart of the development and will serve as an excellent meeting point and for social gatherings. Bask in the lap of luxury with PJ Midtown’s comprehensive range of facilities spread across 25,000sq ft of space which include a barbecue station, fully equipped gymnasium, jogging tracks, playground, swimming pool, wading pool, tennis court, sauna rooms and a spacious multipurpose hall.
Unwind from the busy pace of city living under the shade of the gazebo or stretch out on the sun deck and enjoy a leisurely evening. Undoubtedly, the jewel of the development is the sky terrace which will boast a spectacular panoramic view of Petaling Jaya and Kuala Lumpur city skyline. PJ Midtown offers 758 units of contemporary serviced suites with three design options, mainly Type A (three bedrooms – 1,227sq ft), Type B (two bedrooms – 915sq ft) and Type C (one bedroom – 613sq ft). The homes feature spacious interiors and an elegant blend of earthy tones to set the mood for practical yet stylish living. Additionally, certain units will be able to enjoy direct access to the car park and private garden spaces that encapsulate a holistic high-end living concept. Each unit will be furnished with modern appliances, built-in cabinets, exclusive fittings and finishing. Addressing the need for reliable security features, the development will be equipped with 24hour security surveillance, card access system, a digital lockset at the entrance door of the unit, intercom facilities and panic buttons. Scheduled for completion in 2018, PJ Midtown is the result of a strategic and collaborative alliance between IOI Properties Group Bhd and Sime Darby Brunsfield Holding Sdn Bhd, forming a world-class partnership that blends the expertise and experience of three wellestablished and award-winning developers synonymously known for delivering superior quality, innovation and value in their developments.
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“Undoubtedly, the jewel of the development is the sky terrace which will boast a spectacular panoramic view of Petaling Jaya and Kuala Lumpur city skyline.
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1 An artist's impression of the overall development with its three-in-one lifestyle promise. 2 A closer look at the development. 3 The grand entrance statement to the development.
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4 A view overlooking the swimming pool.
Sunday 15 February 2015
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STARPROPERTY.MY SUNDAY 15 FEBRUARY 2015
06
FEATURED DEVELOPMENT
THE RISE OF NEW TOWNSHIPS Clusters of fresh developments are slowly but surely taking pride of place in shaping the skylines of the future, further and further away from the city.
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HAT have wars been fought over in times past, a commodity that seems to hold its own – both in good times and bad, and which has a tendency to appreciate in substantial value over time and only seems to get better with the passing of time? The answer to this multi-faceted set of questions is intrinsically straightforward – land. Due to limited land in the city centre, developers seeking to launch new townships now need to locate land further and further away from developed townships in the city. Jumping on this bandwagon are both established and niche developers alike who seek to create new townships in the fringes of the city by virtue of their potential as many pockets of urban land have already been developed almost to maximum capacity. A premier lifestyle developer, Mah Sing Group Bhd is one of the nation’s longstanding developers with the foresight to source for fresh opportunities further away. Known for his sense of resourcefulness, Mah Sing Group Bhd group managing director Tan Sri Datuk Sri Leong Hoy Kum acknowledged that since land is scarce in the city, it is challenging for developers to offer products in the mass market segment in city centres. Hence, many developers including himself are always on the lookout for land to launch projects that can cater to the middleincome market in suburban locations. This is seen as a viable solution to meet the increasing need for affordable accommodation. He said that instead of merely opting to build high-rise condominiums to meet the expected price points to justify the escalating cost of development in the city centre, more and more developers are opting to venture further away to suburban locations that are easily accessible via connected highways. “Mah Sing is a market-driven developer which strives to offer the right types of products to fit the property cycle. We believe that with the ETP (Economic Transformation Programme) progressing well, suburban locations will be easily accessible with improving infrastructure as well as mega public transportation projects like the MRT (Mass Rapid Transit). We believe that properties in well-connected areas will gain popularity and meet the strong demand for mass market housing. “In recent years, in line with market demands and Government policy, we are emphasising on mid-range developments, focusing on the mass market and affordable housing as reflected in the latest in-house market research findings,” he said, adding that he expects there will be continual strong demand for residential homes that will still outstrip supply. “The total transactions for residential properties in the past few years have been trending at more than 200,000 transactions per annum while the number of newly completed homes has only been at 70,000 to 80,000 units per annum,” he reiterated. Judging from the group’s freehold Southville City@KL South development in Bangi recently recording a 99% take-up rate for the serviced apartments of which 2,000 units comprising the first five blocks of its Savanna Executive Suites are priced from
DESIGNER BLOCK YVONNE YOONG
yvonneyoong@thestar. com.my
1 Meridin@Medini is located right next door to Legoland Malaysia. The serviced apartments here named The Meridin Suites come with a GDV of RM553mil and are priced from RM309,000 each. 2 An artist's impression of the new Southville city township development by Mah Sing Group. 3 Mah Sing Group Bhd group managing director Tan Sri Datuk Sri Leong believes that properties in well-connected suburban locations will gain popularity and meet the strong demand for mass market housing.
RM338,000, the property market in this township located away from the city centre looks promising. The project comes with a GDV (gross development value) of RM8.31bil. The group’s two-and-a-half storey Avens Residence superlink homes development totalling 196 units with a GDV of RM192mil that are priced from RM892,800 has also recorded over 80% take-up rate. Moving further south to Johor, the group has already completed its acquisition for 1,352 acres (547.13ha) of land at Bandar Meridin East in Pasir Gudang, Johor Baru, which is targeted to be launched in the first half of 2015 that will adopt a “gated-ready, double-storey” link home concept. In line with developing further away from more mature townships in its quest to develop new tracts of land, the group acquired 960 acres (388.49ha) of land in Seremban last year in which it is planning to launch more of its “bread-and-butter” products that will comprise link homes, semidetached units and commercial components. Leong said that the group views the land acquisitions in the Southern areas as “an expansion from the Greater Kuala Lumpur and Klang Valley conurbation” – areas which he believes will be positioned to strategically “tap into the needs of the public”. He is optimistic that developing further away as opposed to already established townships is the new emerging trend that will yield fruitful outcome in time to come. “Prior to today’s demand for affordable, ‘bread-and-butter homes’, we have been building townships complete with amenities. “We do not only want to replicate but also beat the success stories of our awardwinning Aman Perdana township in Meru, Shah Alam, and M Residence@Rawang plus Kinrara Residence in Puchong.” Garden Residence in Cyberjaya and the 425-acre (171ha) Southville City besides the 96.71-acre (39ha) M Residence 3@Rawang developments are among the cluster of new townships that the group has embarked besides the freehold serviced apartments at Austin Suites@Austin Perdana in Johor Baru where the units for this development with a GDV of RM166mil are priced from RM376,000. The Bandar Meridin East development in Johor Baru that has a GDV of RM5bil comprises freehold link residences priced from RM339,000 while the serviced apartments at Meridin@Medini named The Meridin Suites with a GDV of RM553mil are priced from RM309,000 – forming further examples of these new townships. Adding another feather to its cap of new townships, there is also the RM266mil freehold serviced apartments at Meridin Bayvue@Sierra Perdana which are priced from RM414,000 that represent another far-flung new mixed township in which the group is seeking to establish its footprint. “The development of our new townships like Southville City and Seremban Land where we will launch freehold link homes priced from an indicative RM350,000 per unit that comes with a GDV of RM7.5bil will enable us to tap into the first-time homebuyers market along with those who
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wish to upgrade from the surrounding areas in the southern growth corridors,” he added. Remaining upbeat about the fact that property has always been the “preferred wealth preservation and investment option in Malaysia”, he believes that with the Government’s confirmation of the go-ahead for the MRT Line 2, LRT 3 (Light Rail Transit), High-Speed Rail Kuala Lumpur – Singapore initiative as allocated in the recent Budget Revision, the improved access will only spur the growth corridors linking
these new townships. This will in turn reap healthy returns for the group’s varied projects, including Seremban Land. “It is anticipated that the group will benefit from these infrastructure projects as 75% of our undeveloped land banks are located in Greater KL and Seremban. The improved connectivity will also open up new property growth corridors that will benefit 25 out of our group’s 48 projects in the Klang Valley, Greater KL and Seremban.”
Mapping out new township developments
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OINING in the legacy of map making excellence in Malaysia initiated by his father, Ho Chin Soon Research Sdn Bhd chief executive office Ishmael Ho (pic) shared his insights into the potential viability of new townships based on strategic locations that seem to be moving further away from the recesses of the city centre. Quick to point out that although there are still plenty of development land within the city and suburban areas in Greater KL, he noted that in order for new townships to take root, developers need to venture further away to where larger tracts of land are available in generous amounts at a more affordable price. “New townships usually offer more landed products while the development trend for city centres and suburban areas tend to go for
high-rise projects,” he said, adding that although moving further away is often a “trade-off for longer travelling time to the city,” it can also yield an exchange in terms of more spacious residences based on similar pricing. Suburban neighbourhoods serviced by existing and future infrastructure upgrades as in new highways, MRT, LRT and BRT (Bus Rapid Transit) will play a role in addressing the accessibility issue. As he sees it, new townships need to build confidence in prospective purchasers in terms of the demographics of how accessible they will be to facilities and amenities, including educational institutions, restaurants, entertainment outlets, and more. He believes that the new townships mushrooming in parts of Greater KL, including the Semenyih corridor, the Seremban Highway corridor and the western part of Rawang hold potential and promise. Other hotspots include Ipoh where new townships are emerging, and
STARPROPERTY.MY SUNDAY 15 FEBRUARY 2015
07FEATURED DEVELOPMENT
IJM LAND GAINS GREATER GROUND I JM Land Bhd, the property development arm of IJM Corporation Bhd representing one of the largest construction and infrastructure groups in Malaysia, has also been venturing further out from more established neighbourhoods to develop new townships in the fringes of the city. This move was apparent even as the group recently unveiled its latest Sherwood signature bungalows in the highlands of Kinrara South situated 450ft above sea level. The new urban heartland’s verdant enclave on which 27 units of signature three-and-a-half storey bungalows will occupy 3.91 acres (1.58ha) of land in the lowdensity Sherwood development also promises winning views of the Ayer Hitam Forest Reserve. Green linkages, parks, linear and terrace gardens complemented by European-inspired landscapes with eight-metre-high (26ft) pencil pine trees will epitomise a distinctive eco-living highland environment hosting the meeting point between nature and the city which will complete the setting for the ready-to-move-in contemporary designed residences priced from RM2.9mil each. A major consideration in developing further away from mature areas lies with addressing the issue of accessibility as reflected in Sherwood’s strategic location adjacent to various facilities and amenities while being linked to established highways, including the Damansara-Puchong Expressway (LDP), Lebuhraya Shah Alam (Kesas) and the South Klang Valley Expressway (SKVE), with the Kuala Lumpur City Centre located just 30 minutes away via the Maju Expressway (MEX). IJM Land Bhd chief executive officer and managing director Datuk Soam Heng Choon shared that increasingly, the group’s new township developments are now venturing towards the south of the Klang Valley in order for it to capitalise on more affordable opportunities. “There is strong demand for affordable housing which is mostly found in new townships located further away which make them more sustainable. Usually, land cost for new townships is relatively cheaper as compared to other popular and more developed areas. “These new developments will be significantly more affordable due to their distance away from the city centre. This provides opportunities for developers to plan and develop new, comprehensive
Bandar Meru Jaya. “In the future, the stretch leading from Jelapang to Seri Iskandar is the corridor to consider,” said Ho.
Big players, new townships New townships are prevalent in Rawang with Low Yat Group Bhd making its imprint with Bandar Tasik Puteri and Mah Sing Group Bhd unveiling its M Residence @Rawang development. Other new townships are also mushrooming in Semenyih’s Lekas Corridor as seen in the Setia Ecohill project by SP Setia Bhd, EcoMajestic by Eco World Development Group Bhd, Serene Heights by UEM Sunrise Bhd, Diamond City by Country Garden Properties (M) Sdn Bhd and Kajang East by MKH Bhd. Suburban examples also abound in Wangsa Maju, Cheras, with IJM Land Bhd’s development of its highrise Seri Riana project and Hedgeford 10 Residence undertaken by Hedgeford Sdn Bhd.
and integrated townships which will allow them to add value to homeowners’ lifestyles and boost the standard of living in these areas,” he reflected. Pointing out that one of the major backbones in assuring the viability and success of the rise of new townships lies with the issue of connectivity and easy accessibility, he echoed the view that improvements in infrastructure have made it easier for homeowners to live further away from the city and yet be within easy reach. “Tucked away from the city, residents will enjoy better homeownership and quality of life. City folks who want a quiet and serene living ambience are now settling down and investing in new townships,” he observed. Acknowledging that although “public perception and knowledge of the location” are key considerations in determining the final property purchase decision, he said that good infrastructure and proper planning put in place can augment the perception value to elevate the potential of new townships that will in turn boost the sales factor. “Other issues that need to be addressed in the development of new townships lie with developers having to build and invest in other facilities and amenities that can provide convenience, recreation and security assistance while ensuring ease of access to amenities without the need for residents to travel excessively. These are all important elements to consider in ensuring the liveability and selfsufficiency of new township developments.” Being a formidable property developer, having put in place sprawling mixed-use townships, boutique developments and strategically located commercial buildings as well as high-rises and exclusive condominiums in key growth areas throughout the country, including Penang, Kuala Lumpur, Selangor, Seremban, Johor, Sabah and Sarawak, IJM Land has certainly been gaining greater ground in creating new townships further away from developed areas in recent years. Venturing further to the south of the Klang Valley with its better road and rail connectivity to Kuala Lumpur, the group’s three ongoing township developments in the Greater Klang Valley include the 1,879-acre (760ha) Bandar Rimbayu in Shah Alam, the 1,164-acre (471ha) Shah Alam 2 located in Bandar Puncak Alam and the 3,800acre (1,537ha) Seremban 2 in Negri Sembilan that
Sungai Besi: Tin mine to property gold mine
Another overlooked area where new townships are being developed is Sungai Besi. Citing its potential as a rising star in terms of new townships, he compared its maiden years – having underwent a massive transformation from a tin mine to what it is today – a property gold mine. Historically home to heavy industries such as steelworks and other heavy industries, the town is now poised to become an upscale township with many developments springing up. “Sungai Besi is a very old township. However, since the progress of development in the Kuala Lumpur city centre is now expanding, the spillover effect is now hitting areas like Sungai Besi and because of that, the land here is now considered prime property.” He said that Sungai Besi is poised to become “the next Golden Triangle” due to its address being located adjacent to the city centre. It is in comparable distance to Wangsa Maju which has also boomed in recent times. The shifting trend has resulted in demand for high-rises here. “A high-rise development in Sungai Besi should be
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5 6 4 The ARC, Bandar Rimbayu is part of the 1,879 acres (760ha) mixed development township that comes with a GDV of RM11bil. 5 IJM Land's Seremban 2 township of 3,800 acres (1,537ha) with a GDV of RM10bil. 6 IJM Land Bhd CEO Datuk Soam.
have all been very well-received. “One of Bandar Rimbayu’s key selling points is its excellent road connectivity which is linked via five major highways. Located next to Kota Kemuning, it is highly accessible via these network of highways that link up to Putrajaya, Cyberjaya, KLIA (Kuala Lumpur International Airport), Port Klang, Shah Alam, Subang and Puchong,” he said. Bandar Rimbayu is strategically accessible via the Kesas Highway and Lebuhraya Kemuning Shah Alam (LKSA), which will grant residents easy access to Subang, Petaling Jaya, Damansara, the Kuala Lumpur city centre, Puchong, Shah Alam, Klang and other parts of the Klang Valley. The SKVE will link the township to Putrajaya, Cyberjaya and Kajang while Expressway Lingkaran Tengah (Elite) will provide easy accessibility to KLIA and the southern region. When completed, the proposed West Coast Expressway (WCE) that will link Banting to Taiping in Perak will further enhance connectivity to the West Coast area. He also highlighted the potential viability of Shah Alam 2 as another rising new township. “The Shah Alam 2 township is considered a viable investment because of the convenience and comfortable lifestyle it offers. Furthermore, the past few years have seen some vital changes in its landscape which has sparked interest in the area.” Building upon the township’s appeal are the opening of numerous educational institutions – popular with young professionals who place importance on their career since proximity to the Central Business District (CBD) is crucial in improving productivity and safety in terms of time spent travelling, which will also translate to a higher quality of life. “Young professionals could look into purchasing their units at integrated mixed-use developments. They will do well in looking for properties from well-known developers with a good track record,” Ho opined. Trinity Aquata in Sungai Besi, the freehold development comprising 492 residential units in two 32-storey blocks with a gross development value (GDV) of RM270mil undertaken by the Trinity Group Sdn Bhd, is an example of such a high-rise development. The units will range in built-up areas of between 1,151sq ft and 1,420sq ft. In this development spread on 3.58 acres (1.44ha) of land, novel facilities such as a rain pavilion, water lounge and interactive water play nook, aqua-reflexology area, sky terrace, cinema bunker, Sky Bar and kitchen, wellness deck, Sky Pod, Sky Studio besides a landscaped Sky Bridge and two Sky Gardens are bound to attract the younger buyers.
the most notable of which is the UiTM Puncak Alam campus besides the dedicated highways, including the Shah Alam - Puncak Alam Highway which provides direct access to the township. Expanding on the potential of the Greater Klang Valley, he said the group’s land bank in Negri Sembilan that has a remaining 1,500 acres (607ha) out of 3,800 acres (1,537ha) will be used for developing future new townships – so too its other landbanks being earmarked for landed residential, high-end projects as well as high-rise residential and integrated developments that will be developed in areas where there is demand. “Landed residential (township developments) will always be in demand as the supply in and around the Klang Valley is limited due to the scarcity of land,” he opined. Qualifying that the landed homes in new townships are still “relatively affordable” as compared to similar projects located closer to the city centre, he noted that residential properties in Bandar Rimbayu, Shah Alam 2 and Seremban 2 which are priced below RM1mil have been selling well. “The Seremban 2 and Shah Alam 2 townships offer modern amenities and the conveniences of city living minus the chaos, and come with ample landscaping and lush greenery. “The townships are also set within a comfortable distance away from the hustle and bustle of the city and are easily accessible via a network of established highways,” he added. Another factor contributing to the rise of Sungai Besi is its selection as the site for the High Speed Railway that will connect Malaysia to Singapore. The implementation of Terminal Bersepadu Bandar Tasik Selatan has already started the transformation process on the landscape of Sungai Besi to what it is today. “Sungai Besi is becoming a crucial transportation hub with its increasing accessibility to various parts of Kuala Lumpur. “With the construction of the Sungai Besi - Ulu Kelang Elevated Expressway (SUKE), coupled with the extension of Besraya Expressway, the connectivity between Sungai Besi, Pandan Jaya and Ampang West will rise. Even the BRT line will have a route travelling through Sungai Besi,” he added. Building new townships further away from the city centre is now not only in the domain of the main bluechip property developers as boutique developers too are venturing into these areas. The trend is noticeably gaining traction among the other niche developers also who are now making a slow but sure beeline for these outer areas.
STARPROPERTY.MY SUNDAY 15 FEBRUARY2015
08
PROPERTY INSIGHTS
SoHo, SoVo and SoFo – Jargons or new trend? M
ANY of us who have travelled to London are familiar with the term Soho, which is an area within the City of Westminster at West End of London. Long-established as an entertainment district, for much of the 20th century, Soho had a rather seedy reputation for nightlife while also being a hub for the film industry back then. However, since the early 1980s, the entire district has shed its previous image and has undergone considerable transformation. Fast forward to today, visitors can look forward to a cleaned-up image housing a fashionable district comprising upmarket restaurants and media offices. In New York, there exists a Soho district as well, named as an abbreviation of the area located South of Houston Street, which is also known as the Cast Iron District. Back in the 1970s, this area had warehouses and factories that were converted into lofts and art galleries by artists who wanted to live in those areas, and had wanted to save cost. Thereafter, some were converted into homes that were referred to as Soho units. Curious as to how what I would term as SoHo, SoVo and SoFo “hybrid” products came about in Malaysia, upon researching what these real estate products represent, I learnt that a SoHo unit is a Small office/Home office, a SoFo is a Small office/Flexible office while a SoVo is a Small office/Virtual office.
Helping you build your net worth Half-day seminar enables attendee to gain further insights into this topic.
AN OPINION
DATUK STEWART LABROOY
Datuk Stewart LaBrooy is the chief executive officer of Axis REIT Managers Bhd.
P
Each of these types of development is relatively quite similar in the fact that they all are small in size but they differ in terms of functionality. The built-up for these products range anywhere from approximately 37sq m (400sq ft) to about 74sq m (800sq ft) and are priced between RM480 per sq ft and RM700 per sq ft. Prior to the onslaught of this new trend of smaller sized units, developers were content to just build condominiums. If they wanted to build residences on commercial land, they termed them serviced apartments. Building serviced apartments enabled them to circumvent the restrictions in density requirements and compliance with the HDA or Housing and Development (Control and Licensing) Act 1966. SoHo units started appearing roughly five years ago. This was after the Strata Titles Act was passed in 2007 to accommodate stratified landed development. At the same time, the HDA was amended to include serviced apartments to protect the buyers of such properties. This was the perfect foil to create a much higher density offering with its smaller, affordable units for a market hungry for such housing. SoHo units enabled developers to build higher towers while bringing down the prices within the more affordable range for the first-time investor. There was a belief that there was a growing preference for working from home
ROPERTY specialists and enthusiasts who attended the ”Helping you build your net worth” seminar that was held at Menara Star, Petaling Jaya, two weeks ago benefited from the insights shared during the half-day presentation that was jointly organised by propwall.my and starproperty.my. The event saw Hartamas Real Estate (Malaysia) Sdn Bhd associate director Christopher Chan, who is also a registered real estate agent, presenting the theme “Matters relating to titles”. His presentation covered a variety of topics, including the history of titles and relevant interpretations of sample titles, what constitutes a master title, individual title and strata title as well as the conversion of titles. According to him, the awareness factor in knowing what land titles are is crucial when purchasing a property. A land title is a legal document that proves ownership and also determines who can buy the specific development on that land. The different types of title samples give a clearer indication on what to focus on when reading a title. The two most important sections in all titles concern the “restriction in interest” and the “expressed condition”. One title is somewhat different from another, thus it is important to pay attention to those details. Superior Wealth Mastery founder and chief trainer Alan Poon who is also a versatile entrepreneur presented spoke on how to “Profit from auction property investment” and shared his experiences in dealing with auction properties. Poon outlined some of the important key elements that should be taken into consideration when they relate to auction property investments. Attributing auction properties to being the “gems of the industry”, Poon said that auction properties which
– at least that is what the developers said as SoHo units became a lifestyle offering to the market. However, the pricing strategies were clearly the main driver of demand. Besides SoHo units, other new properties with commercial titles that feature smaller built-up areas with multiple uses have emerged. Some of these are called designer suites and have no specific designated use while others are called SoVos and SoFos, which allow their occupants to live and work there. These new products capitalised on the housing boom that saw new launches being sold out in a matter of days or hours even. Secondary sales saw prices climb and everyone made a profit. A new asset class was born, primarily for investment. As the CEO of a Real Estate Investment Trust (REIT), my primary aim is to invest in properties that can be easily rented out, are well-located and which offer a long-term value proposition to our unit holders. As a result, I am always curious as to the criteria investors use before they put their money down on these particular properties. At the end of the day, it all boils down to what a fully tenanted SoHo, SoVo and SoFo unit will look like as an investment. Because of its high-density, given that there will be anywhere from between 200 and 400 owners in a single building, there is therefore a need to form a Management Corporation to oversee the management of the property once the developer hands over the strata titles. There will also be
are mostly priced below the current market value is another alternative approach to property investment. He also shared on the seven essential points to follow in order to benefit from auction properties and also five pitfalls that should be avoided. “Keen auction investors should spend time researching to ensure they find the right time and the appropriate auction properties to invest in. The area, type of property and the value of the property are some of the considerations to take into account.
a diverse tenant mix comprising singles, young married couples, students, office owners and even the possibility of foreign workers. Getting all of them on the same page when it comes down to the nuts and bolts of running a high-rise development may prove to be a challenge. Such a diverse tenant mix could be the Achilles heel of such developments. Five to 10 years down the road, the long-term sustainability of these products will need to be examined as maintenance issues will arise and tenants may come and go. Strategic locations within Kuala Lumpur and popular residential neighbourhoods such as Bangsar, Damansara Heights, Mont’ Kiara and areas surrounding the Bandar Utama – Mutiara Damansara belt as well as the Ara Damansara – Subang precinct are expected to continue to attract investor interest in terms of these product offerings but poorly located areas may suffer. Time will judge the success of such concept developments. They, after all, represent a way of providing affordable housing that is in demand now. But, like all new things, it remains to be seen if these developments will share the same success of the evergreen typical link house. This boom may not end with just these products. In fact, it could lead to a wave of more innovative products. We could, in the future, see launches of SoDo (Small office Designer office) units and SoLo (Small office Luxury office). Don’t you just love jargons?
You need to know what to avoid and understand the game,” he emphasised. This is one in a series of events offering quality information to property enthusiasts and also the members of the public. The speakers can be contacted via e-mail at christopherchan@hartamas.com and alanpoonmc@ gmail.com respectively. For more information, visit www.propwall.my and www.starproperty.my.
Superior Wealth Mastery founder and chief trainer Poon addressing the crowd on how to profit from auction property investment.
STARPROPERTY.MY SUNDAY 15 FEBRUARY 2015
09OVERSEAS OUTLOOK
Transforming vacant offices into liveable spaceS By THIJS VAN DER WERF
T
HE office vacancy rate has never been as high in the Netherlands as it has been this year. At the end of 2013, almost 17% of Dutch office units were either up for sale or rent. In comparison to last year’s 15.5%, this represents a rapid increase in the offices put up in the market either for sale or rent. This occurrence is further escalated by a new upcoming concept that can be referred to in the Netherlands as “Home offices�. Therefore, we can expect that the demand for office spaces will not increase in the future. When looking at the duration of the vacancy, it is noteworthy to understand that offices face structural vacancy, which can be defined or categorised as vacancies that last for a longer period than three years. In early 2014, more than 50% of the offices were deemed as facing structural vacancy. To address this situation, the Dutch Government views the act of transforming and converting vacant buildings as a preferable option as compared to total demolition. These initiatives reflect the current needs faced by the real estate sector which is defined by a required short-term return of investment. In addition to these challenges, the Netherlands faces other real estate issues. For instance, there is a rising demand for less luxurious houses required by three population groups; namely students, expatriates and senior citizens. The Dutch Government is looking for a feasible solution to address these urgent housing needs. At the same time, there are issues facing healthcare facilities which require appropriate locations in order to provide healthcare services to senior citizens. One way to address the vacant office issue is by transforming the office units into apartments or facility areas for senior citizens as an appropriate solution to address problems in the housing market. This measure will simultaneously contribute to the reduction in the vacancy rate of the office units.
Square and offices vacant Squaremeters metres and vacant in theoffices Netherlandsin the Netherlands
Dutch contributor Thijs van der Werf has experience in the real estate field and understands the housing needs in the Netherlands. He is currently working at Malaysia Property Incorporated (MPI) in Kuala Lumpur.
In addition to the above-mentioned benefits of transforming vacant offices into residential units, these existing offices also tend to come with desired amenities that will be beneficial to senior housing such as elevators, spacious staircases, meeting and service areas, atriums as well as indoor parking facilities, etc. Furthermore, offices which can be transformed into residential units are oftentimes located within nearby distance to parks. What that usually means is that these
Total Total Million square metres of Million meters of rentable office space rentable square office space
Portion vacancy Portion vacancy % %
60
20
50
16
40
12
30 8
20
4
10 0
0 1995
2000
2005
2010
1995
2015
2000
2005
2010
2015
Vacant In use
The benefits of transforming offices into residential units
1. Transformation can be sustainable
As opposed to demolishing an existing office tower and constructing a new building in its place, the act of transforming an office tower into a residential building allows the structure to remain largely intact. Thus, fewer construction materials will be used. Meanwhile, there will be less need to transport demolition waste. This transformation will contribute to an overall more sustainable process as compared to a complete demolition or rebuilding of the property.
2. Shorter construction time Transforming the office units into residential enclaves will be
areas are easily accessible to public transport. The activities surrounding these busy office centres can contribute to a sense of communal spaces, resulting in senior citizens feeling less isolated. Interestingly, an existing example of a transformed office building with senior citizen facilities has managed to address the accommodation problem for students too. This is because the management of that particular nursing home decided to offer student apartments at their facility. Approximately 10 students get to enjoy
much faster and more efficient than committing to a whole new construction process.
3. Decrease in cost
Transforming existing offices into housing units ensure a reduction in the total construction cost. Firstly, property owners can reduce losses by allowing new tenants into their buildings. Secondly, fewer construction materials are needed while the turnaround construction time is shortened, resulting in reduced cost.
4. Improved quality of life for the surrounding population
Vacant offices can reduce the quality of life in certain areas when shops close and
free housing in this business scheme. However, they have various tasks to perform and have to take care of the elderly for 30 hours a month. By assisting in tasks such as preparing lunches and entertainment, they also bring a new wave of energy into the elderly community. The buildings that have been successfully transformed in the Netherlands are mostly selected based on factors such as convenient location within nearby distance to a host of facilities.
maintenance falls behind, etc. When the buildings' units are occupied again after a transformation, the quality of life improves, bringing about a positive impetus to the surrounding area.
5. A viable solution to urgent housing needs
Transforming offices into living areas offer a viable solution in addressing the urgent demand for housing needs, especially those faced by students and senior citizens.
6. Improving the lifestyle of senior citizens
Many real estate developers are beginning to realise that there is a need to provide options for quality accommodation and services catering to senior citizens.
This is because a suitable location is crucial to the success of a transformed project. In fact, many healthcare providers in the Netherlands prefer central urban locations. However, there is a lack of projects such as these. Therefore, the transformation or demolition of new constructions is often the only way to realise the real estate needs of healthcare providers. Since many structural and empty buildings are located in central urban areas, this presents new opportunities for healthcare providers to establish more such centres.
STARPROPERTY.MY SUNDAY 15 FEBRUARY 2015
10
PROPERTY INSIGHTS
The Southern push I
T all goes back to the numbers once again. Only 10 years ago, the thought of owning a house in Seri Kembangan, Kajang or Bangi was almost unthinkable as it was considered too far, unpractical and very difficult to commute to and from these locations. During those times, Cyberjaya too was considered not viable. Nowadays though, everyone seems to be gravitating towards the Southern corridor of growth, as it were – “pushed away” from Kuala Lumpur and Greater KL – spurned by the escalating high cost of housing and living in the city centre. Kuala Lumpur is becoming a smart city. And, out of the six pillars of a smart city, four points deal directly with the daily issues of life revolving around the community or people, mobility, lifestyle and also the environment. Refer to Table 1: We will talk about these four pillars later but first, let’s take a look at the two remaining issues – that of governance and the economy. The last five years have seen the decent economic performance in Malaysia, enabling the Government to move the nation further towards the set target of Wawasan 2020. During this time, an impressive number of new infrastructures were undertaken such as the extension of two LRT (light rail transit) lines and two new MRT (mass rapid transit) lines. Once completed, these transportation systems will allow people to commute easily from their respective suburban living areas to their various working places. Mobility and connectivity are two of the most important pillars for all developed and developing countries and Malaysia, with its 67% population below the age of 39 years, needs a proper network of public transportation and fast connectivity. These public works which are being constructed have been easing the decision that many have had to make to move towards the outskirts of the big city. Refer to Table 2. We all live in a fast-moving society which results in stress and tension – almost beyond the limit that one can take. Therefore, when it comes to the decision of purchasing a new house, besides the cost factor which is pushing everybody away from the developed central areas, the existence of a healthy environment that “suburban” developments are able to offer which include low density, minimal pollution and abundant green townships remain enticing. In other words, a much better environment compared to the central developed areas is a key point in new townships that are located further away from the city centre. The Malaysian rakyat may voice their concern that no affordable houses are available but sometime it’s only a matter of looking a bit further. Refer to Table 3: Seri Kembangan, Kajang and Bangi which are now already well-connected as central locations will be even more accessible in the future and will continue to offer quality lifestyles at very affordable prices. Land cost in these areas has not yet touched the prohibitive values of Kuala Lumpur. Therefore, this allows developers to offer low-density residential projects to those who are willing to travel a bit further
DR DANIELE GAMBERO
REI Group of Companies CEO and co-founder Dr Daniele Gambero gives presentations on the property market and welcomes feedback at daniele.g @reigroup.com.my
in exchange for a larger house in a much cleaner and less polluted environment. Based on the two maps provided by Ho Chin Soon Research Sdn Bhd, it is very easy to see how the “Southern push” has come about as a result of higher future connectivity. This is why so many developers today are rushing to build up their land bank in the southern corridor where the land price per sq ft of below RM30 will surely allow them to offer highly livable townships. Bandar Seri Putra, where United Malayan Land Bhd (UMLand) has started developing a township almost 20 years ago, is now in the radar of prospective purchasers looking for 1,000sq ft homes below the threshold of RM500,000. Indeed, many more developers have been appearing on the stage. Refer to Table 4: From UMLand Bhd to UEM Sunrise Bhd, Eco World Development Group Bhd (Eco World) to SP Setia Bhd and Mah Sing Group Bhd to IOI Properties Group Bhd (IOIPG), all these prominent property developers are planning future residences and mixed use developments for the up-and-coming 10 million population envisioned to blossom in Greater Kuala Lumpur. This will generate, as per Table 4, a huge demand for new dwellings. In essence, Kajang, Bangi and Semenyih are going to become more popular as well as highly connected and liveable areas for future generations. Hopefully, responsible developers will look into the issue of livability and keep the density of their new townships at very low levels to ensure prosperous communities can thrive in the future. A smart city has to be built piece by piece, through smart townships.
Table 1
Table 2
Table1
>> Sources: Napic Property market Report, Ho Chin Soon Research, Spad, Prasarana and MMC-Gamuda.
“We all live in a fast-moving society which results in stress and tension – almost beyond the limit that one can take.
Table 4
Estimate demand-offer trend for Kuala Lumpur and Selangor
Total Kuala Lumpur and Selangor population as at 2012 7,594,000 Current demand of homes (3 members per household) 2,531,333 Available stock as at 2012
1,749,536
Current need of houses as at 2012
781,797
Total Kuala Lumpur and Selangor population as at 2015 8,058,814 Demand of homes by 2015 (3 members per household) 2,686,271 Incoming supply by 2015 Estimate need of houses by 2015
1,956,265 730,006
Total Kuala Lumpur and Selangor population as at 2020 8,897,581 Demand of homes by 2020 (3 members per household) 2,965,860 Incoming supply by 2020
2,199,107
Estimate need of houses by 2020
766,753
Table 3
STARPROPERTY.MY SUNDAY 15 FEBRUARY 2015
11HERITAGE CONSERVATION
Innovation in C conservation
By KELLY CHENG CHIALI feedback@starproperty.my
Kong Heng Square becomes a symbol of innovation as it leads the way for conserving and preserving Ipoh’s heritage buildings, which have become a beacon of hope for the youths’ homecoming.
1
2
1 Restaurateur Dexter Song operates multiple eateries in Kong Heng square, including Bits & Bobs, a quirky flea market stall.
3
2 Visitors get to enjoy a rustic atmosphere while walking towards a barber shop in Kong Heng square. 3 Colourful eclectic collectibles sold in Bits & Bobs. 4 Ingenious DIY lamps decorated with ribbons in rainbow hues breathe an air of cheerfulness into Buku Tiga Lima. 5 Exposed roof allows natural light to come in to one of the staircases in Sekeping Kong Heng.
4
5
LEAN air, scenic mountains and good food. It is always a relief to go back to my hometown, Ipoh, which has always had the reputation of being a sleepy old town. To be honest, that’s not too far from the truth. Since the collapse of the tin industry in the late 1980s, Ipoh has earned the label of a retirement town. Many of its youths, attracted to more progressive cities such as Kuala Lumpur and Penang, have left Ipoh in a mass exodus. Old buildings, many well-worth preserving, have been left to decay. However, things are beginning to change. Ipoh is now starting to come alive and heritage preservation is playing a big role in this. Nostalgic Ipohites are beginning to take an active interest in preserving Ipoh’s rich heritage, including its buildings. They are opening hotels, cafés, galleries and restaurants in Ipoh, hoping to attract a younger crowd and maybe emulate the “hip heritage” success of Perak’s northern neighbour, Penang. Seksan Design Sdn Bhd principal Ng Sek San, a renowned landscape designer, got the world of Malaysian architecture talking when he and his partners developed Kong Heng Square. It is a radical departure for Ipoh, which is known for its delicious food and tin mining history rather than innovation in design. “We wanted to make Ipoh a bit more sustainable in terms of its economy,” said Ng. The whole square, which sits on about 20,000sq ft of land, is encircled by four roads near Little India and consists of nine buildings. “The nine buildings all came in one plot because the corporation who sold them to us had already amalgamated all the properties with the idea of demolishing everything to erect a highrise bulding within that city block. To us, that was a shame,” he said. The highlight of the square is Kong Heng. A testimony to Ipoh’s colourful past, the three-storey neoclassical building was used as a hostel to accommodate theatre performers who acted in the adjacent theatre building that was burnt down in the 1950s. On the ground floor lies a famous coffee shop of the same name that serves some of the best local dishes and coffee in town. “Kong Heng has always been an institution in Ipoh. All of us grew up eating in that coffee shop. There are a lot of favourites like popiah, sotong kangkung and rojak. So Kong Heng has memories for everybody,” Ng reminisced. Upstairs is Sekeping Kong Heng, another addition to Ng’s “Sekeping” family of retreats. Besides restoring the dilapidated historic building to its former glory, he has also created an accommodation area within it. The distinction is subtle but crucial. Indeed, this is not one of those hotels where they have retained the building’s facade but renovated everything else inside. Instead, Sekeping Kong Heng invites one to experience Ipoh’s tranquil charm in air-conditioned comfort. Additionally, an extension has been added at the back portion to reveal
an inner courtyard with a staircase that takes guests up to their rooms. Behind Kong Heng is the Burps & Giggles café and bar, housed in an old dressmaking shop. This represents another venture from Ipoh-born Julie Song who is a former model, celebrity chef and menu planner for Malaysia Airlines’ platinum passengers. Next door, Julie’s son, 28-year-old Dexter Song, operates Buku Tiga Lima, a sister café with a similar concept. In September 2013, the mother-andson team expanded their business by opening Missing Marbles. The third lifestyle café is similar to Buku Tiga Lima but it comes with an Asian twist. In front of Missing Marbles is a quirky flea market stall, Bits & Bobs, run by Dexter and his childhood friend Nikhil Roy, which sells childhood titbits such as ice balls with homemade syrups. The bohemian chic theme found in each of these eateries evokes a sense of whimsical cheekiness. Almost every corner of these eateries has been decorated with quirky mural paintings, charming ornaments compounded with greenery and happily mismatched furniture. Dexter explains, “The idea is to maintain the original environment of the shop lots while adding a modern twist. “There were no sketches or planning. We simply threw together anything that made sense. Some of the decorations were handmade by us.” Two steps away from Sekeping Kong Heng is another branch of Plan B established by its founder and “group chief eating officer” of the Big Group, Benjamin Yong. What used to be an old furniture warehouse has been turned into an Aussie-meets-New York deli. Layers of foliage surround the building, lending a cooling environment while complementing the industrial vibe of the premises. Speaking about a collaborative effort between himself and Yong, Ng said, “We are also establishing a cooking school where we take disadvantaged kids from Harvest Centre, Sentul, and train them to be chefs and kitchen staff. Ben’s team is leading the cooking school.” As an Ipohite myself, I can’t help but feel a bit sceptical when it comes to the influx of people trying to transform this historic town. Will the town – known for its slow pace and old world charm – be lost to commercialisation? “There’s always a concern when the conservation bandwagon comes. There are pure conservationists and then there are people who come for economic reasons. “I think change is a double-edged sword. It can be bad or good. My take is not about the development, but rather it’s about keeping the scale correct in the city,” said Ng. In summary, I think that a topdown approach to design and huge developments are not in line with the character and quaintness of Ipoh. Instead, we need little eclectic developments such as the above to really breathe new life into the city. This will generate more energy and bring people back to Ipoh. After all, the city is about the people, not the buildings.
STARPROPERTY.MY SUNDAY 18 JANUARY 2015
12
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ith a tagline of "The Best Place to Live in Kuala Lumpur", you know you're in for a treat. Desa ParkCity, Kepong sits on 191.4 hectares of prime freehold land and has grown exponentially from a previously abandoned quarry site, to the current affluent masterplan development. The township is linked to major highways that allow its residents the ease of direct entry and exit to many popular places in Kuala Lumpur and beyond. With its "New Urbanist" concept of living, this development has managed to be the first-of-its-kind where they have merged the aspects of community, public places and neighbourhood. As of now, the Propwall website has a complete and comprehensive database of 18 properties in total. They range from posh condominium units to mixed residential developments and landed properties. For example, there is The Westside One, a luxurious condominium where 40 storeys of chic New York-themed designer units awaits. There are 338 units and the built-ups are 969 2,066 sf. Next, there is The Northshore Gardens, where there are 274 units in total and is also known as the "Preferred Investment Grade Luxury Condominium". Built-ups range from 904 - 6,030 sf. Nadia, a mixed residential development consisting of linked houses and condominium units. The 165 units of linked houses have a built-up of 2,432 sf whilst the 246 condominium units have a n informatio built-up of 635 - 2,669 sf. Moving on, there is The Breezeway, For more in s rtie another beautiful mixed residential development. Offering 76 on prope rkCity, a P a s e units of terrace homes and 130 condominium units, the builtD ontact c n up is from 2,900 sf and from 1,293 sf respectively. you ca heah Jeffrey C Current and future residents can look forward to a special 9-6699 and rewarding way of life in Desa Parkcity, where work and play at 016-21 are combined harmoniously in one peaceful and holistic setting.
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