StarProperty.my Edition 17 May 2015 by StarProperty

SUNDAY 17 MAY 2015

Redevelopment zest in

Old Klang Road/ Puchong/ Bukit Jalil corridor

Infrastructure and renewal boon spice up this part of South Klang Valley with new housing and commercial projects interspersing with the old. P02-03

Old is the new gold standard INSIDE THIS ISSUE

Old Klang Road's location with its close proximity to the City Centre remains on the hotspot list in terms of property potential and mid- to long-term viability.

P12-13

WHAT IS AFFORDABLE FOR IMAGINATION AND THE ME MIGHT NOT BE FOR YOU: REAL ESTATE MARKET STUDY SHOWS THAT SOCIAL HOUSING PROBLEM involving LOW COsT HOUSES AFFECT approximately SIX MILLION MALAYSIANS.

P18

COULD THIS BE THE NEXT WAVE OF REAL ESTATE DEMAND â&#x20AC;&#x201C; THE CULTURAL SHIFT TO COFFEEDRINKING TECHNOPHILES?

P20

www.starproperty.my

www.facebook.com/starproperty.my

SPECIAL FOCUS

STARPROPERTY.MY SUNDAY 17 MAY 2015

Redevelopment zest in Old Klang Road/ Puchong/ Bukit Jalil corridor Infrastructure and renewal boon spice up this part of South Klang Valley with new housing and commercial projects interspersing with the old. By ANGIE NG angie@thestar.com.my

HE Old Klang Road/ Puchong/ Bukit Jalil corridor that lies in South Klang Valley has changed substantially over the past decade from being a backwater locality of the Klang Valley into a bustling residential and commercial corridor of growing importance. Its proximity to Putrajaya which is the seat of the Federal Government’s administration centre, and Kuala Lumpur International Airport (KLIA) has changed its profile tremendously as well as spurred its growth and economic opportunities. Over the years, the corridor has seen many new townships, housing estates, commercial hubs, office buildings, retail malls and infrastructure facilities that are spicing up the older streetscapes, and in the process the value of property in this corridor has appreciated by a number of folds over the past one to two decades. Although some parts of this corridor are already quite dated and are dotted by old buildings and townships, property consultants and developers are still bullish of its growth potential, especially in terms of the redevelopment opportunities. This is because its strategic location and proximity to Kuala Lumpur’s city centre and to the other national landmarks, including Putrajaya and KLIA, have made this triangle still a sought-after address for residences and businesses. The value of a residential address cannot be underestimated. Where one sets up home is dependent on personal choice, convenience, accessibility and of course the price of property in a certain location, therein lies the prestige and premium of a good address as it reflects on the financial status of the property owner. For business operators, the address of a business is also an important consideration because it can make the difference between success and failure, given that the location has a bearing on whether a business outfit is accessible to its customers or not and this will affect demand for a product or service. How popular an area has become or will be in the future is also dependent on a host of factors that include the type of properties, conveniences, amenities, infrastructure connnectivity and its proximity to the city centre, among other considerations. Likewise, how robust a place or a corridor will become in terms of property value and growth potential is dependent on the takeup rate and demand for property there, existing property prices, and whether there is room for values to go up in future.

Developers have to scrutinise the factors that determine the value of an address even before any piece of land is transacted and when drawing up plans for new development projects. It will affect the decision of how confident developers are to accumulate new land and to undertake projects in a particular area. Needless to say, property buyers and developers will also consider the rate of return on investment before deciding to purchase or pursue with launching a project. As such, the pace of land being transacted and at what price they are being transacted are indications of the growth potential and popularity of a place. So just how hot is the Old Klang Road/ Bukit Jalil/ Puchong corridor as a hunting ground for property to buyers and developers going forward? At the end of the day, it will come down to the basics of demand over supply of residential and commercial properties, rate of return on investment, availability of land for new projects, infrastructure connectivity, and its propensity for growth going forward. While the availability of development land is an important consideration, it is worth noting that besides starting projects from ground zero, commonly referred to as greenfield projects, developers can also redevelop or rejuvenate old buildings and inject new lease of life into dilapidated property. This will breath new lease of life into old buildings and dilapidated areas that include squatter colonies. Acknowledging that some sections of the South Klang Valley corridor are already quite mature and dated, Ho Chin Soon Research Sdn Bhd (HCS) chairman Ho Chin Soon is nevertheless bullish of the growth potential of this triangle of Old Klang Road, Puchong and Bukit Jalil given that these three areas are all located in the first tier location of HCS’s Locational Centre of Gravity for Greater KL that covers locations within 20 kilometers of the Kinrara Army Camp (Refer to map). Ho says although they are quite mature locations with only some parcels of land available for development, the corridor is in a stage of renewal with improvement to its infrastructure linkages, notably the proposed monorail extension in Old Klang Road and the Ampang to Kelana Jaya light rail transit (LRT) extension that runs along major stretches of Puchong, having the propensity to spice up development opportunities in the corridor. “Old Klang Road is the best redevelopment potential site as it is very near to Mid Valley Megamall. The proximity of this place to Mid Valley Megamall adds to

GREATER KL 2015

( KUALA LUMPUR CONURBATION ) Including Genting Highland

the Boardroom Strategy Map

as at : February 2015 next upgrade: February 2016

Old Klang Road/ Puchong/ Bukit Jalil corridor

Source: Ho Chin Soon Research

pBoardroom Strategy Map on Old Klang Road/ Puchong/ Bukit Jalil corridor

the value of the Old Klang Road address. As for Puchong and Bukit Jalil, there are still land parcels available for development as they are relatively newer compared with Old Klang Road,” Ho explains.

Robust address Bukit Kiara Properties Sdn Bhd group managing director Datuk N. K. Tong concurs, observing that as Kuala Lumpur continues to grow, all corridors radiating

from the capital city will be important and critical for housing the working and residential population of this increasingly booming Kuala Lumpur city centre. “Growth corridors with good infrastructure will stand to benefit the most, and this corridor is one of those with good connectivity between Kuala Lumpur, Petaling Jaya and the other parts of the Klang Valley. With monorail connectivity planned as well, its proximity to the city centre puts it as one of the most desirable

STARPROPERTY.MY SUNDAY 17 MAY 2015

03SPECIAL FOCUS

locations in the near future,” Tong says. The company is undertaking the Verve Suites @ KL South comprising fully furnished designer units along Old Klang Road. Property consultancy Savills Malaysia deputy managing director Paul Khong has a robust outlook for the Old Klang Road/ Puchong/ Bukit Jalil corridor. He says its location in the southern quadrant of the Federal Highway that stretches southwards from the Mid Valley Megamall to Putrajaya is a huge swathe of corridor that houses a strong and large mid-class populace and many successful commercial centres, including Bandar Puchong Jaya, Bandar Puchong Utama, Bandar Bukit Puchong, Bandar Kinrara and Bukit Jalil. The corridor has lots of new housing schemes and is still very popular due to its access, location and existing demographic. “The corridor boasts of highly populated and extremely popular neighbourhoods, which are well located between the city centres of Kuala Lumpur and Petaling Jaya in the north, and Putrajaya and Cyberjaya in the south. “This part of the South Klang Valley that stretches from Old Klang Road to Puchong and Bukit Jalil is a mature and established neighbourhood with a high concentration of population. According to the 2010 National Census, Mukim Petaling has a total population of 600,000 and many new developments have since been built with lots of new projects coming through in the pipeline. The population size could have easily doubled by now,” Khong observes. It is well connected by a network of highways such as Shah Alam Expressway (Kesas), Damansara-Puchong Expressway (LDP), New Klang Valley Expressway (NKVE) and South Klang Valley Expressway (SKVE). The light rail transit (LRT) will be another interesting addition to the corridor with the LRT Ampang Line extension underway. It will link all the way to the corridor passing through Kinrara, Puchong up to Putra Heights. He says the extension of the LRT line will boost connectivity to Puchong and Bukit Jalil, bringing greater interest to this corridor and boosting developments as the place becomes more accessible. The new LRT stations will be sited in Puchong Prima, Puchong Perdana, Bandar Puteri, Taman Perindustrian Puchong, Pusat Bandar Puchong, IOI Puchong Jaya and Kinrara BK5. The presence of the new LRT stations

will result in a big positive spillover effect to this corridor and will make these areas easily available via public transportation. Khong says another direct link from Old Klang Road (next to MRCB’s new 9 Seputeh project) to the New Pantai Expressway (NPE) will continue to spearhead rejuvenation of the Old Klang Road address. “We expect to see more continued growth in this corridor, especially in the newer and undeveloped sections of Bukit Jalil and Puchong. With more population coming through, these areas of both residential and commercial hubs will continue to perform well as they will mature quickly,” Khong says. Pockets of land are available for development in the older Old Klang Road area and many of the older factory sites along this main road are also heading for redevelopment. “There are still a lot of new development projects in the entire neighbourhood. The pricing of the products becomes relatively cheaper as the properties are built further away from Old Klang Road and as they move down south,” he notes. As land prices continue to escalate making the landed products rather pricey, he says high-rise strata apartments will be built to house the local population. When land prices escalate, redevelopment projects become viable and the older industries/factories will naturally make way for new development projects. This will then rejuvenate the neighbourhood and bring back vibrancy into the area. He says many areas along Old Klang Road are looking rather tired and many of the industrial factories there have outlived their economic life and are due for redevelopment. Developers are looking around for land for redevelopment into new mixed development projects. “There are still some squatter areas and various dilapidated factories along Old Klang Road which have been there for decades and are due for redevelopment. Many of such lands are still being acquired by developers. This explains the many new redevelopment projects, such as 9 Seputeh by MRCB and Southbank Residence by UOA Group, that are underway in this corridor,” he adds.

Growth catalysts Meanwhile, Puchong and Bukit Jalil areas have newer development stretches that are

attracting substantial interests from buyers. “These areas are getting strong traction from the owner occupiers’ segment who are first time purchasers looking for their first homes. These residential units tend to become more affordable as they are located further away from the city centre,” Khong says. Moving towards Puchong, there are also a lot of land for development especially in areas lying off the LDP. These sites are generally more focused on residential developments, he says, noting that with land prices escalating more high-rise strata apartments are expected to be built. “Puchong is largely occupied by a young population comprising mainly young families and professionals. “We expect about 50% or more of the population in Puchong to be between the ages of 25 and 40 even though there are no official reported statistics available. This is an established mid-class neighbourhood and the newer developments here are now moving southwards radiating from Old Klang Road downwards to Bukit Jalil. There are still a lot of development lands available especially in the south and we see lots of new developments ongoing in these neighbourhoods,” Khong says. There are still many pockets of remaining land available within older housing schemes like The Prime @ LDP by Hill Crest Development lying along the LDP and Jalan Puchong, that are interspersing with new housing areas. Besides the big developers, there are also the smaller boutique developers that are contributing to the growth of the corridor. Mah Sing Group Bhd’s close to 260-acre site and another 69 acres of joint venture project for a large new mixed development will be located in this bustling corridor. Further south, there are good opportunities for new projects and more “gated and guarded” products from landed housing units to condominiums that are expected in large numbers. One interesting development to look out for is MRCB’s Seputeh 9, with the project lying next to the new dedicated link to the New Pantai Expressway (NPE). Khong says the new dedicated link will help to boost the overall accessibility to the Old Klang Road neighbourhood and bring positive spillover effects, and the immediate neighbourhood will become even more vibrant when the link is completed. On price valuation of land, houses and commercial property in the corridor, he

3 1 Ho Chin Soon Research Sdn Bhd chairman Ho Chin Soon (right) explains on the Locational Centre of Gravity for Greater KL. Looking on is chief executive officer Ishmael Ho. 2 Bukit Kiara Properties Sdn Bhd group managing director Datuk N. K. Tong. 3 Savills Malaysia deputy managing director Paul Khong.

“As for development land, it is a slightly different scenario where in Old Klang Road, prices crept up slowly from RM300 psf to RM350 psf, with the highest recorded level transacted last year at RM590 psf for a 28,000 sq ft site. - Savills Malaysia deputy managing director Paul Khong

says while prices are governed by open market forces, demand for houses in the mid-level segment is expected to still be strong, as demand is based on actual needs and is also largely location-driven. House prices in the midsegment market are still rising, albeit at a slow pace in the current soft market backdrop, which is due to higher costs of construction and land prices that have resulted in prices of new projects escalating steadily. Landed properties within gated and guarded precincts will continue to do well as demand is still strong but supply is limited by high land costs. The earlier phases of development were targeted at mid-level segments and these neighbourhoods have slowly matured with higher end products being offered as well. Since the slowdown caused by the global financial crisis of 1998, prices have picked up slowly in 2009, and from 2010 to 2012, there was substantial jump in bungalow land values with prices having shot up from RM180 per sq ft (psf) to RM300 psf and beyond. By 2014, prices stabilised at RM400 psf to RM450 psf (based on transactions in Bukit Jalil Golf and Country Club). Khong says many of the other areas such as Bandar Kinrara also saw the same pattern but at slightly lower level, peaking at RM250 psf in 2014. Asking prices are now hovering from RM300 psf to RM350 psf. As for development land, it is a slightly different scenario where in Old Klang Road, prices crept up slowly from RM300 psf to RM350 psf, with the highest recorded level transacted last year at RM590 psf for a 28,000 sq ft site. Over the years, prices have seen strong escalation in capital values. From 2010 to 2013, prices soared for most categories of properties especially the landed housing segments. But from 2014 to this year, demand has tapered off slightly and prices have since stabilised. Khong says the opening up of Old Klang Road after the impending completion of the dedicated link to New Pantai Highway next to MRCB’s 9 Seputeh is expected to spawn more high-priced sales to be transacted in the corridor. Given the robust redevelopment opportunities and new infrastructure projects in the corridor, the skylines and landscapes of this part of the South Klang Valley are bound to undergo more revitalisation.

FEATURED DEVELOPMENT

STARPROPERTY.MY SUNDAY 17 MAY 2015

GREEN living at Aquamarine

The neighbourhood’s latest freehold development is an endorsement of spacious and healthy living set amidst lush greenery complemented by a seven-acre community park. By YVONNE YOONG yvonneyoong@thestar.com.my

PACIOUS homes and green surroundings will certainly go hand in hand at the freehold Aquamarine development with a gross development value (GDV) of RM160mil spread across 10.83 acres in Taman Putra Prima in Puchong. Indeed, for starters, there will be a central seven-acre community park and beautifully landscaped green zones, nature’s magnificent splendour literally beckons at one’s doorstep in this private and serene haven for the family. The practical charms of a well-designed residence will be a daily reality with its list of unique selling propositions that include contemporary designs and spacious layouts. The typical two-storey layout encompasses a master bedroom large enough to accommodate a walk-in wardrobe while the corner units will be perfect for those with extended families by virtue of the fact that the spacious second floor bedroom will feature a lanai that can be converted into a second master bedroom. Each two-storey unit will feature four plus one bedrooms and four bathrooms. The three-storey layout with its grand master bedroom concept will occupy the entire floor with a private sitting area and covered balcony. Each three-storey unit will feature five plus one bedrooms and five bathrooms. In essence, these units will pave the way for a clear separation of space that harmonise the private and family areas into a seamless and coherent design concept. Developed by Plenitude Permai Sdn Bhd, a subsidiary of Plenitude Bhd, Phase 2C of Aquamarine that has just been launched recently has already seen a 35% take-up rate out of its total 150 units comprising two- and three-storey terrace houses. Plenitude Bhd executive chairman Elsie Chua anticipates demand to be high for the corner units due to the flexibility afforded by its large bedroom and special lanai area on the second floor. The units, designed according to a north-south orientation, will feature high glass windows to allow natural lighting in while sun-shading louvres will be featured in the corner units. The three-storey units come with 12 ft high ceilings while the two-storey terrace houses feature 13 ft high ceilings. All bedrooms will have en-suite bathrooms fitted with solar hot water system and inverter air conditioner piping. “Our target market is represented in the upgraders who may consider these landed freehold houses as their future retirement homes. Alternatively, they could also view the homes as their next generation or children’s dream home. These upgraders are mainly from the surrounding

neighbourhoods who have long stayed in smaller scale houses or apartments/ condominiums,” she says. Not dismissing the fact that in recent years, a younger group of people has moved into Puchong due to work requirements in Putrajaya and Cyberjaya, she anticipates that these young families may consider purchasing the units at Aquamarine. Envisioning that the development will be well-received by upgraders and owner occupiers, she says that community facilities with 50 ft wide internal roads and perimeter hedging, underground cabling and three-phase power supply as well as a single entry and exit point to Aquamarine will be other value-added features. Priced from approximately RM370 per sq ft compared to the neighbourhood pricing of above RM400 per sq ft, she says affordability is key at the Aquamarine development. The two-storey terrace units categorised as Type B, C and D with built-up areas starting from 2,456 sq ft with land sizes of 22 ft x 72 ft and 22 ft x 75 ft respectively will be priced from RM956,000 onwards. The three-storey terrace units categorised as Type A have built-up areas starting from 3,426 sq ft with a land size measuring 22 ft by 75 ft. These units will be priced from RM1.215mil onwards. Each unit will be able to accommodate two cars parked side-by-side at the large car porch area with an automatic gate.

Easy accessibility The mature township is already equipped with ample commercial support and a ready network of comprehensive infrastructure. Surrounded by public amenities, such as shopping malls, hypermarkets, financial and educational institutions as well as medical centres, the upcoming LRT (light rail transit) station at Puchong Prima located 3 km away is anticipated to boost the value of the development. The LRT and bus transit points will also help ease traffic. A key highlight of the development is its excellent connectivity to major highways such as Lebuhraya Puchong Highway (LDP), Lebuhraya Shah Alam (Kesas), PuchongSungai Besi Bypass, the North-South Expressway Central Link (Elite), Putrajaya Link and the Puchong-Hicom-USJ Link. The development is located in close proximity to local amenities that include being a mere 3 km away from Tesco Hypermarket and Aeon Big. Columbia Asia Hospital is located just 8 km from the development while Sunway Medical Centre is 15 km away. Meanwhile, Putrajaya Hospital is situated 19 km away. Within nearby travelling distance are educational institutions such as Sekolah Jenis Kebangsaan (SJK) (C) Han Ming, SJK (C) Sin Min, Sekolah Kebangsaan (SK) Puchong Perdana, SK Puchong Indah, Sekolah Menengah Kebangsaan (SMK) Puchong Permai, Sekolah Menengah (SM) Sains Seri Puteri Cyberjaya.

3 1 Overall view of Aquamarine. 2 Two-storey terrace house. 3 Three-storey terrace house. 4 Spacious bedroom. 5 Living & dining area. 6 Plenitude Bhd executive chairman Chua. 4

Sunday 17 May 2015

Starproperty.my

STARPROPERTY.MY SUNDAY 17 MAY 2015

SPECIAL FOCUS

Lifestyle Gems in South Klang Valley

The glow from the 'Golden Triangle' is fast becoming passé; enter the new realm of the 'Silver Stretch' that holds a handful of well-kept places yet to be explored. By CAITLYN NG LI YUIN liyuin@ocision.com

And NURUL ASMUI MD AZMI asmui@ocision.com

aving to brave traffic jams is not something people would willingly do. Yet, for residents of areas such as Puchong, Old Klang Road and Bukit Jalil – infamous for long stretches of congestion – it is where they call home and for home, they would brave the challenges.. It is clear to see that those three areas are becoming new hotspots with growing interest from people from all walks of life to live and work there. When we took a drive to check out the 'Silver Stretch' (as we call it), we discovered that a fascinating new world lay in wait for us to unearth and explore. Brimming over with a myriad of food and beverage options, retail outlets and recreational facilities at the 'Silver Stretch', it's not hard to see why so many people are attracted to this area. Over in Puchong, when we first stepped foot in the vicinity (our self-assigned starting point was the town centre), there was a slight confusion caused by the layout of the place. Wherever we turned, there were eateries upon eateries, and we were spoiled for choice. F&B options at the shop lots ranged from quaint cafes such as the Boardroom Cafe, Juice D'fruitz and Wings Musicafe, to restaurants such as Bibi Wok, Rather Curry House and V1 Concept Restaurant and Bar. Even at SetiaWalk, residents and visitors would be able to take their pick from the many options available, where cuisine from across the world could be found. Hankering for dishes from Vietnam to Korea, or some Western food to satisfy your palate? No problem, SetiaWalk has them all. Happily for us, over at Old Klang Road, we found the same scenario: plenty of food options that would satisfy even the pickiest of eaters. For something heartwarming and traditional, there were plenty of delicious Chinese fare that can be found in the area, such as Ah Wang Steamed Fish Head, Big Tree Fried Pan Mee and Coco Steamboat. Head on down to Scott Garden, a happening lifestyle retail circle that is packed with enough facets that would cater to just about anybody. For a wonderful pastry and coffee tea break, head on down to Doiffee or even Ficelle Boulangerie and Patisserie, where we gorged on tasty morsels. If that wasn't enough, when we swung by Bukit Jalil, we were further treated to more scrumptious food than our bellies could hold. The usual could be found, which was a harmonious blend of hearty Asian and Western fare. Some of the notable eateries to head to would be The Owls Cafe, Tee Box Cafe and Restaurant and the perennial favourite, Murni Restaurant.

After all that eating, what we needed was a good workout, and what better way for us ladies to do than with some shopping? In Puchong and Old Klang Road, there is no shortage of retail outlets. Finding ourselves facing the "daunting" task of choosing between IOI Mall and SetiaWalk (both located in Puchong), or Scott Garden, Pearl Point and OUG Plaza (sited in Old Klang Road), we decided that the best thing to do would be to visit all of them. It was the perfect exercise we needed, to be checking out each and every store. With big names that are instantly recognisable, such as Brands Outlet, Adidas, Jaya Jusco, Tesco and Sen Q, it would be easy to spend an entire day immersed in this form of retail therapy. If people were to still find that inadequate, there were also the rows upon rows of shop lots that housed boutiques, grocery stores and various bric-a-bracs to check out. On the other hand, we found that Bukit Jalil did not have as many amenities. There were shop lots and small grocery stores, sufficient for the residents' basic needs and wants. However, since its location is so close to Sri Petaling, that won't prove to be too much of a problem for its residents since Sri Petaling is a much more happening place, acting as the optimal complement to the Bukit Jalil area. As we hit the last mall in Old Klang Road, we could not wait to sit back and unwind at some of the peaceful parks and recreational areas within the ‘Silver Stretch’. Searching for a peaceful ambiance in Puchong, we ended up at the Taman Wawasan Recreational Park, which is an ideal spot for the public to enjoy a scenic view while having a picnic or jogging. Fishing enthusiasts will be thrilled to go fishing at the Prima Lake (Tasik Prima) in Puchong as many have voted it as one of the best lakes to go fishing. Fishing can be done from either the water’s edge for the beginners or in deeper water by using a rented boat. After being first-hand witnesses to such tranquil surroundings from the two parks in Puchong, we headed on to Old Klang Road and found a well known park in Taman Desa. The immense park was allocated ample space for a basketball court, tennis courts, a large football field, a playground and is also a favoured spot for morning tai chi and yoga. Another great attraction in Old Klang Road for the whole family's entertainment is Desa Water Park. Visitors will get to experience fun, yet thrilling water rides and slides. One ride that no one should miss out on when visiting the water theme park is the "Thunderbolt", the first and longest gravitydefying water coaster in Asia. Driving out of Old Klang Road into Bukit Jalil, we discovered the Commonwealth Hill Memorial Park, a park that was built in conjunction with

STARPROPERTY.MY SUNDAY 17 MAY 2015

07SPECIAL FOCUS

the Commonwealth Games in 1998. The memorial park features a special zone called Central Plaza that is situated at the highest peak for visitors to enjoy a panoramic view of the National Sports Complex in Bukit Jalil. From there, we went on to visit the enormous recreational park in Bukit Jalil called the Bukit Jalil Recreation Park. As a popular recreational park in Kuala Lumpur, the facilities at the site range from large picnic areas, a children’s playground, exercise stations, jogging and walking tracks, a reflexology park, lakes and also an international garden featuring show gardens representing 10 different countries. Residents living in the "Silver Stretch"

1 The Owls Cafe in Bukit Jalil is decorated with an eye-catching array of owls decorations.

are pampered with numerous verdant parks to escape from the hustle and bustle of the city. They are also able to relax and enjoy a sense of tranquillity without having to leave their neighbourhood, making the "Silver Stretch" an ideal locale to consider living in. With rapid development and commercialisation, there will always be pros and cons. Small unknown towns, there are now plenty of amenities and recreational aspects that complete the "Silver Stretch", allowing its residents to experience the best of life in one address. Nevertheless, there are massive traffic jams to contend in addition to the noise pollution that comes from the many construction works.

2 The unique facade of the Ficelle Boulangerie and Patisserie in Old Klang Road. 3 The inviting atmosphere at Juice D’fruitz in SetiaWalk, Puchong. 4 The scenic view of the waterfront feature in Setia Walk, Puchong. 5 The Scott Garden in Old Klang Road offers a tranquil environment complete with greenery. 6 The convenient shop lots in Bukit Jalil featuring cafes, restaurants, beauty shops, convenience stores and many more.

7 The Commonwealth Hill Memorial Park provides one of the best places for recreational activities in Bukit Jalil. 8 The well equipped playground in Taman Desa, Old Klang Road that serves as a nucleus for people from all walks of life.

Real Answers From Real People

We decided to give some people from the 'Silver Stretch' a chance to tell us about their living and working experience.

Julia Chow, Kasawari Heights, Bandar Puchong Jaya “My family and I have been living in Puchong for about 25 years but it was only in recent years that we moved to Kasawari Heights, which is a newer development. So far, we are quite content living here, seeing how Puchong has developed by leaps and bounds. It is located in close proximity to areas such as the KL city center, Subang Jaya and Sunway. The security here is satisfactory since the Residents' Association brought in security guards and recently implemented fences and a single entry/exit point. It's a pleasant neighbourhood with friendly and helpful neighbours, so it's a joy to be living here."

close-knit community where everyone knows everyone else and looks out for each other, thus encouraging a secure and peaceful atmosphere. One of the first moves was to erect high fences all around the perimeter, in addition to a guard post, creating a cul-de-sac so that the children are able to go out and play safely. We would really like to upgrade the fences to a brick wall in the near future since our housing estate is a mature green residential area. We do have quite a lot of people who appreciate how serene our neighbourhood is, and we intend to keep it that way. It is our duty as the leaders of the Kasawari Heights' Residents Association to serve without condition and set a good example. All we ask for in return is a united community that takes care of its neighbours."

Datuk Lee Leck Cheng, Chairman of Persatuan Penduduk Perumahan (PPP), Kasawari Heights “We had this idea to build a

Jayapackiam a/p Rathakrishan, Taman Puchong Indah “I moved to Puchong when I got married to my husband and decided to follow him. This was back in 1995, some 20 years ago. From here, my husband decided to open an automotive workshop, KSM Krish Auto Workshop near to our home. We

repair vehicles that range from cars to one tonne lorries. This location is strategic, with ample parking space and spare parts shops located within the vicinity. We get a lot of repeat customers especially during the festive seasons and our business grew thanks to word-of-mouth, which is why we don't have any plans to move to another location."

Eugene M. Ha, Vista Komanwel "When I was studying at International Medical University (IMU), I found this condominium and decided to live here due to its close proximity to the campus. I find this a safe and comfortable place to come home to, due to the presence of several safety features such as close circult television (CCTVs), gated and guarded with regular patrols and card access to the main lobby. Residents here coexist peacefully so there are no inter-racial conflicts. Public transportation is also within walking distance to the condo. I hope that the management office would be open on weekends as well though, since some of us work till late on weekdays or else we will not be able to voice our concerns or issues we face."

today is somewhat different as compared to the 80s. Although it is great to see many developments coming to this area, I really hope that some greenery is preserved. Nevertheless, I can’t deny that Old Klang Road is an important centre for excellent amenities.”

Abdullah Mat Isa, Chairman of Persatuan Penduduk Rumah Pangsa Blok 7&8, Kampung Lindungan “After living in Lindungan (Block 7 and 8) for about 23 years now, I can say that this is one of the best neighbourhoods that I have ever lived in. For the past 18 years, I was chosen as the community leader for the two blocks at Lindungan. As a responsible community leader, I am obliged to not only solve the problems that arise within our community, but to also bridge the gap between the different races that are living here. We organise several annual events for the community to get together and enjoy each other’s presence. The events include community activities, where we will go around and clean the surroundings of Block 7 and 8, hold sports carnivals, festive celebrations, and religious ceremonies."

QQ Khor, Jalan Klang Lama “I have been living in Old Klang Road ever since the day I was born. The neighbourhood that I live in is peaceful most of the time, and I am very satisfied with the security features made available to the residents. There are police units patrolling the area and each house is fenced up. Being here for almost 25 years, I can say that it has one of the best connectivity to different highways for easy access to many prominent townships. Shopping and leisure are within convenient distance as many stores can be found in and surrounding Old Klang Road."

Anand Nganasekaran, Lindungan “My parents moved to Lindungan in 1983, and we have been living here ever since. Residents in my block are a tight-knit community where we look out for each other and enjoy living here, but I do have plans to upgrade to a bigger abode in a new area. The environment

Jeswin Kaur Bhatt (in blue) and Hassaira a/p Kailasam, Taman Desa “We have been living with our parents in Taman Desa for more than 10 years now, and we go to the same school at SMK Taman Desa. The security at this residential area is great because we have a guarded entrance, as well as a police station nearby. We usually just hang out at the park where there are tennis courts, a playground, a basketball court and a big field. Although the park is very convenient for the residents here, we would really like to see it cleaned on a regular basis, and also will be thrilled if more sports equipments are provided.”

STARPROPERTY.MY SUNDAY 17 MAY 2015

FEATURED DEVELOPMENT

Enchanted Waterfront Living A perfect tranquil awaits in Puchong, away from the hustle and bustle of hectic city life.

By NURUL ASMUI MD AZMI asmui@ocision.com

URORA Residence is the first residential tower within the development of Lake Side City, a self-sustaining lakeside waterfront mixed development township in the heart of Puchong. Developed by Permodalan Masteron Sdn Bhd, a member of the Masteron Group of Companies, the first phase of Aurora Residence is slated for completion in 2017. The group aims to provide idyllic living with its gated integrated development alongside a well-known lake in the vicinity of Puchong, which is the breathtaking Prima Lake (Tasik Prima). Residents will wake up to a peaceful scenic lake and enjoy being surrounded by captivating nature. “The green environment and the renowned blue lake offer a tranquil zone for city dwellers who appreciate the beauty of nature amidst their residential area,” says Masteron sales and marketing group manager Liew Li Ping. Overall, Aurora Residence has four blocks of luxury condominiums that offer the same layout of three bedrooms and two bathrooms, but with different built-up areas ranging between 1,141 sq ft and 1,238 sq ft. The second phase of the condominium will see a special addition. Units that sit on Level Five, which are on the same level of the facilities, will have the rare privilege to enjoy a villa-like feature, as each one comes with its own private terrace garden measuring from 320 sq ft to 950 sq ft overlooking the lush greenery and the pools. “Every inch of Aurora Residence is perfectly designed with substantial settings and modern approaches. Standing high on Lake Side City, Aurora Residence will offer a different atmosphere for its residents. Proud homeowners will be able to witness beautiful sunrises and sunsets without having to leave their comfortable abodes,” says Ping. The design scheme of Aurora Residence places great emphasis on the relationship of the surrounding natural landscape of the lake while bringing greenery and recreational features into the heart of the development.

Landscaped garden in the sky Residents at Aurora Residence can enjoy a lush tropical landscape experience with distinct facilities available at the highrise residence. Residents are able to lead a healthy yet contented lifestyle with an immense 3.9 acres of an open garden facility podium, 1 km span of jogging track as well as several hanging gardens located at various higher levels. The podium facilities at Level Five comprise an integrated green area with an infinity pool surrounded by seamless green landscape and also recreational sports arenas such as a gymnasium, tennis courts and squash courts, just to name a few. This ensures optimum harmony, comfort and perfect balance between human and nature for conducive modern day living. The connectivity surrounding Aurora Residence is brilliant as there are existing highways such as Lebuhraya Damansara-

1 1 An artist’s impression of the development of Lake Side City, a picturesque township located next to the largest lake in Puchong. 2 A scenic view from the infinity pool at Aurora Residence. 3 The 1km stretch jogging track at Aurora Residence. 4 An artist’s impression of a fully-equipped gymnasium at the podium facilities of Aurora Residence.

“The connectivity surrounding Aurora Residence is brilliant as there are existing highways such as LDP, Kesas, Elite and SKVE, which are accessible within minutes.

the proposed covered pedestrian walk-way from Lake Side City to Station 11 Puchong Prima. The infrastructure is definitely a privilege to future Aurora’s residents.

Puchong (LDP), Konsortium Expressway Shah Alam Selangor (Kesas), Ekspresway Lingkaran Tengah (Elite) and South Klang Valley Expressway (SKVE), which are accessible within minutes. Furthermore, there is an ongoing construction of the light rail transit (LRT) system extension connecting Puchong to Kelana Jaya and Sri Petaling, to be completed and fully operational concurrent with Aurora’s Phase 1 completion. In collaboration with Prasarana Malaysia Bhd, the group is working with various authorities to obtain approval for

Integrated waterfront township Living up to its name, Lake Side City is a fully integrated waterfront township sprawled across 155 acres by the scenic Prima Lake. It is a mixed development that sets a new standard of living and is projected to be a self-sustaining waterfront township that will appeal to those who are looking for a sensuous city life in the midst of nature. In order to ensure a balanced development within Lake Side City, the group conceptualised the waterfront city according to this principle called “SPACE”, which stands for Sustainability, Parks, Attraction, Commercial and Education.

As a part of the new living concept, Lake Side City will be an all-in-one township that offers a sustainable living supported by convenient infrastructures as well as numerous amenities that are all within reach. Besides offering an idyllic lifestyle that blends well with nature, this self-sustaining development provides convenience alongside a myriad of surrounding amenities, thanks to the rapid development that is currently happening in Puchong. The group is looking to enhance the development of Lake Side City with more serviced apartments, highend condominiums, landed properties, a commercial precinct, shopping outlets, retail shops and F&B al fresco dining fronting the lake. There will also be public amenities such as a school and centralised green lung complete with sports and recreational facilities for the young residents. Living in Aurora Residence will be the perfect opportunity for any homebuyers who are looking to be part of a vibrant hub enveloped by tranquil ambiance and natural landscapes.

Sunday 17 May 2015

Starproperty.my

STARPROPERTY.MY SUNDAY 17 MAY 2015

FEATURED DEVELOPMENT

Making a splashing statement of style

Capturing the essence of a neo-metropolitan lifestyle, Trinity Group Sdn Bhd’s latest development, Trinity Aquata KL South, represents an aquatic celebration of water as its overall theme.

1 1 Nothing will be watered down as far as the waterinspired concept behind the Trinity Aquata KL South development is concerned, with its 16 facilities complemented by seven water-effect zones as seen in this artist's impression of

By YVONNE YOONG yvonneyoong@thestar.com.my

VANT-GARDE, aesthetic and alluring, Trinity Aquata KL South, as its name suggests, is poised to make a splashing statement of style in the suburban enclave of Sungai Besi with its one-of-a-kind, waterinspired development. Representing the latest project by boutique developer Trinity Group Sdn Bhd known for its high value innovative range of offerings, the promise of affordable luxury in line with the company's vision will be reflected in the workings of this freehold development spread across 3.58 acres of land. “Trinity Aquata was designed to encapsulate the neo-metropolitan lifestyle where residents are able to luxuriate within a wholesome, private environment surrounded by nature’s most versatile and precious resource – water. In comparison to other condominiums that come with just a facility podium, our development will have three common areas with facilities on the ground level, swimming pool area as well as the sky deck on level 12,” shares Trinity Group general manager Gary Lum. Counted among the key highlights of the development are 16 unique water-based facilities that include the workings of a raised infinity pool, water lounge, aqua reflexology area, bubbling trail, hammock lounge, pool deck, sky bath, riverbank seating space and a rain pavilion. Water will flow freely throughout the seven water-effect zones to create an atmosphere of peaceful serenity. Residents will be able to soak in the tranquil atmosphere from the comfort zone of hanging rounded hammocks overlooking the sunken pool and floating lounge areas. The facilities podium on level seven will also showcase a sheet of water streaming downwards acting like a transparent wall or screen to exude a cooling effect especially on hot days. One can relax and watch the world go by on a private deck in a resort ambience. In short, the element of water will be infused into each and every part of the development's design and architecture via aquatic features unique to this property. “The project will have an architectural edge over its surroundings with its artistic, modern architecture. The unique selling proposition of the facilities deck where residents can hang out would be what we would call the Vivarium – the glasscladded swimming pool area akin to a giant transparent aquarium where residents can enjoy a dip in the pool." According to Lum, the sky terrace will be designed with large glass panels to offer an incandescent flow of natural light by reflecting the surrounding skies. "Besides a well-planned infrastructure coupled with good amenities, we understand today’s sophisticated and discerning buyers’

the project. 2 Trinity Aquata, inspired by nature's most versatile element - water, will be reflected in the symbolic blue coloured stripes of the stylised design features on the external facade details as seen in this artist's impression of the project’s overall architecture. 3 The aesthetic allure of aquatic features will be accentuated at Trinity Aquata KL South as seen in this artist's impression of hanging rounded hammocks enabling residents to enjoy the scenic view of the outdoors complemented by the cascading water feature forming a semi-transparent wall screen.

4 A resort-like feel envelopes this idyllic setting with lush comfort overlooking the surrounding water features as seen in this artist's impression of the plan. 5 An artist's impression of the Vivarium, which can be likened to a giant aquarium where instead of fishes, people can be seen making a splash in the swimming pool. 3

6 (From left) Trinity Group senior general manager (property) Chung and general manager Lum say that Trinity Aquata KL South was designed to encapsulate the neo-metropolitan lifestyle following an overall aquatic theme.

"We constantly push ourselves to provide only the best for our buyers, with each property highlighting unique and innovative features that set us apart from other developments. At Trinity Aquata KL South, we are offering more than just the standard facilities as we will ensure that the development is enveloped with a sense of peace and tranquillity that makes a property a home," adds Lum. The project that has a gross development value (GDV) of approximately RM300mil was launched nationwide in Kuala Lumpur, Penang, Kota Kinabalu and Kuching last Friday. Trinity Group senior general manager (property) Chung Oon Sien agrees, adding that the company believes in staying ahead by employing the latest technology for their developments in order to benefit the purchasers. "Recently, we sourced for new construction form work from Shanghai which will be used in this development, resulting in substantial savings. The translated savings will be passed back to our customers via competitive pricing of the units," he says. “Furthermore, all our units will be fitted with downlights. This is a new system which we are currently working on. These downlights will not require any plaster ceilings to be added on, hence all our purchasers will have peace of mind that the height of the ceiling will not be compromised compared to using conventional plaster ceiling. It is also hassle-free.” The units are priced at approximately RM600 per sq ft. Expected to be completed in 2018, the development with a large catchment area is anticipated to be able to record capital appreciation and draw in investors due to its strategic location.

Safety and security 5

lifestyle and have integrated both artistic appeal with practical functionality," he says. He adds that renowned map maker Ho Chin Soon pointed out that the KL South/Sungai Besi township is ripe for redevelopment and hence, it will be a key growth area moving forward. Predicting an available market for Trinity Aquata KL South based on the company's strong track record coupled with its strategic location, he points out that its competitive pricing as compared to other surrounding developments in the vicinity are plus points working in its favour even as he describes its unique selling proposition as offering "luxury facilities at affordable prices". Trinity Aquata’s active water zone will add a fun element to the development with an interactive water play nook as well as a serene trail and rain pavilion that will enhance the overall ambience.

Complementing the water features to a tee will be the one-acre Seasons Garden framing the lush landscape details and abundant green foliage to create a healthy and wholesome environment located on the ground level. Boasting a magnificent view that will overlook the panoramic vista of the KL city skyline and that of the Mines Resort City, all of its 492 units ranging in built-ups of between 1,151 sq ft and 1,420 sq ft will be housed in two 26-storey condominium blocks. These units will each feature an extended balcony, which will enable residents to take in the sights of the city once day is done and the city lights come on. All of the units will come with three bedrooms and two bathrooms in a contemporary design layout with fully customisable interiors that exude charm combined with practicality.

Aquata's three-tier security system will include a smart card access to the guard house, lobby and other facilities, a call-to-floor system and a panic button that will be installed in each master bedroom to alert the guard house in case of an emergency besides the added security provided by 24-hour patrol guards and perimeter closed-circuit television monitoring that will take place around-the-clock.

Connectivity, accessibility and amenities Apart from its unique features, the issue of connectivity also holds the development in good stead as there is great accessibility to other parts of the city from its Sungai Besi location via major highways such as the Besraya Highway (Besraya), KL-Seremban Highway, Middle Ring Road 2 (MRR2) and KL-Putrajaya Highway - Maju Expressway (MEX). Trinity Aquata KL South is also situated in close proximity to the Salak Integrated Terminal and proposed upcoming MRT (mass rapid transit) Line 2 that will pass through Chan Sow Lin to Bandar Malaysia. The development will be adjacent to Bandar Malaysia in Sungai Besi via the much anticipated Malaysia-Singapore HSR (high speed rail) project that will be located a mere 7km away that will be connecting KL to Singapore by the year 2022 or 2023. The development will also be located adjacent to Terminal Bersepadu Selatan (TBS), the Bandar Tasik Selatan LRT (light rapid transit) station, KTM (Keretapi Tanah Melayu) Komuter and the KLIA (Kuala Lumpur International Airport) Transit Station.

Sunday 17 May 2015

Starproperty.my

STARPROPERTY.MY SUNDAY 17 MAY 2015

SPECIAL FOCUS

Old is the new gold standard

The tipping point of transforming existing townships from good to great takes time. Years of steady cultivation coupled with proper planning nurtured by organic growth and a maturing process have resulted in successful neighbourhoods such as Old Klang Road, Puchong and Bukit Jalil.

DESIGNER BLOCK YVONNE YOONG

yvonneyoong@thestar. com.my

PECULATION has been rife of late in the property sector regarding the state of the market given the recent onslaught of the goods and services tax (GST) that rode in on April 1, heralded by the storms that invade our evenings without warning of ambivalent hot-andthen-cold weather situations. As unpredictable as the storms have been, and even way before the implementation of GST, an air of speculation had already emerged with ongoing talks of scattered property bubbles arising in various township developments. However, even as existing concerns envelope the nation as the cost of living continues to rise for the average Joe Public, some gung ho developers have continued to launch their developments amid the proverbial eye of the storm buoyed by still unmet, existing demand for housing outweighing supply. Guided by gut instinct and also the proven outlines of previously tried-andtested formulas, developers continue to bank on winning attributes that make a successful township such as amenities nearby and

conducive locations adjacent to one's place of work enabling easy travel. They are considering with renewed interest the possibility of launching new projects in existing mature developments with infrastructure already in place even as land becomes more scarce and hence, costly. After all, it makes sense that the existence of basic primary amenities such as sundry shops, schools, clinics and other secondary infrastructure already in place including shopping malls, hypermarkets, hospitals as well as a ready network of roads and highways linking up to other parts of the city will lend added attractiveness to new launches in older neighbourhoods. "Established townships in good locations, excellent connectivity and easy access to the city tend to boost property values. Even in bad times, properties in these locations can hold their own. Although these older townships tend to have haphazard traffic that one can do nothing about, these areas still retain their penchant as good places to live, invest and do business," opines PPC International (agency) chief executive officer (CEO) Siva Shanker.

As it is, he acknowledges that one will be hard pressed to be able to find any affordable housing gems located near the city going for anywhere between RM500,000 and RM600,000. Thus, he believes that mature neighbourhoods such as Old Klang Road, Puchong and Bukit Jalil are now poised to be on the threshold of renewed interest abounding in terms of the property potential of these established townships. Another plus point working in favour of developers planning to launch their developments in already established neighbourhoods is that they need not invest in basic infrastructure such as highways and main access roads to connect to other parts of town. Shanker believes that developers are still keen to launch their developments in the remaining tracts of land in these older neighbourhoods as there is high demand for staying nearby one's workplace in order to cut time spent commuting. Amidst rising demand for housing to meet the population growth compounded by escalating property prices, mature neighbourhoods that were previously not looked upon as property hotspots are now experiencing a new wave of interest among developers who are keen to launch their new projects here. Indeed, today's savvy developers readily acknowledge that besides the workings of innovative designs heralded by the handsome coupling of architecture imbued with awardwinning interior and landscape designs, the issue of safeguarding their developments are also seeing new gated and guarded (G&G) developments mushrooming in pockets of these mature neighbourhoods.

Old Klang Road sets new property standard

Although previously perceived as a relatively lacklustre neighbourhood, Old Klang Road is now being viewed as holding great potential for development, given its close proximity to the city. According to Shanker, the mature Old Klang Road location with its close proximity to the city center remains a hotspot in terms of property potential and mid- to long-term viability. Its prized location linking up to Mid Valley City makes it a somewhat hidden and yet open secret, turning it into an old property hotspot worth revisiting judging from the current swarm of new developments mushrooming in various pockets of this thriving precinct. Its commercial developments as well as food and beverage (F&B) outlets too are adding glitz to the Old Klang Road precinct that is connected by an arterial road 1,2&3 SetiaWalk, developed by S P Setia Bhd is an integrated development comprising a shopping mall, hotel, SoHo units, retail offices and serviced apartments.

meandering through various enclaves to Puchong. "Scott Garden is a good example of a well-placed development in Old Klang Road. If you look at all the shops, restaurants and eateries buzzing with people, you will also notice that its centre court is the height of activity," he says adding that with its arrival, the area which once used to be squatter settlement areas housing the lower middle-class segment of the population has now experienced a facelift and rejuvenation of sorts. Tracing the early history of Old Klang Road, Shanker reminisces on the appeal of the township with the initial rise of the OUG enclave back then whose success spilled over to benefit the surrounding areas. "OUG was one of the successful townships in the early days some 30 years ago leading to the fruitful beginnings of the Taman Desa success story alongside other residential and commercial developments located along Old Klang Road. It eventually became the epitome of a nice look-andfeel of its time which, being located approximately 10km away, is in close proximity to the city," he recalls. The Old Klang Road area he says, benefited from the enhanced connectivity of the neighbourhood. "In early 2000, they upgraded Old Klang Road into a twoâ&#x20AC;&#x201C;way traffic flow as it experienced massive traffic jam both day and night because this road alone led to the Federal Highway linking further to Taman Seputeh while the other linkage connected the Federal Highway to Old Klang Road, travelling onward to Sunway and Klang. Traffic was along the highway with the arterial road that led to either Klang or Puchong. But now, Old Klang Road is a nice double lane thoroughfare which can take you straight to the New Pantai Expressway (NPE) that takes you to Subang Jaya and can cut out to the Federal Highway and Lebuhraya Damansara Puchong (LDP). "Suddenly, Old Klang Road is at the centre of everything because from the Old Klang Road, one can get unto a number of highways including the Sprint Highway to go to Damansara Heights or travel on the Federal Highway to the city center. There is also the NPE access leading to Sunway and Subang Jaya. One can also take the LDP to various parts of Petaling Jaya that will also open up to Sri Petaling while connecting to other areas as well. "The LDP is the great arterial road that opened up these areas to the city. You must remember that the success of any place actually lies with its connectivity. If an area is not connected to all the other places, it won't do well. It is simple logic," observes the immediate past president of MIEA (Malaysian Institute of Estate

STARPROPERTY.MY SUNDAY 17 MAY 2015

Agents). Acknowledging that urbanisation is a necessary challenge in this day and age to address the forces of demand and supply in a delicate interplay given the rapid rise for the need for housing, he says that the development of new townships will have to be balanced by the maturing of existing townships that need to be nurtured at a steady pace.

The new heartbeat of Puchong According to Shanker, Puchong is where "everything has changed" and which is "doing real great these days" in terms of its property potential. "It’s a great example of a successful township. A lot of it had to do with the Old Klang Road that became popular as a bustling township that kept going further southwest of KL to Puchong. "The LDP opened up Puchong and now it’s a booming township. SetiaWalk, an integrated development comprising a shopping mall, hotel, SoHo (Small office Home office) units, retail offices and serviced apartments located along the LDP that was developed by S P Setia Bhd has also single-handedly brought up and assisted in changing the profile of Puchong, making the area high-end," he says. Tesco is also there, and so is IOI Mall, which has transformed Puchong from a sleepy hollow to a thriving township. All these factors have changed the face of Puchong. "There are also shops and hundreds and hundreds of houses and apartments doing well there. In my opinion, this trend will continue in terms of future developments continuing to expand. I think the values will go nowhere but up. Developments along this corridor will continue to go high-end because of the close proximity to the city

13SPECIAL FOCUS and easy accessibility to other areas." Stating that it would be difficult to put a ballpark figure to the capital appreciation that would take place in this corridor, he nevertheless anticipates that the properties here would "easily yield a 10% to 20% increase in values within the next two to three years". Poised to be the next property hotspot for new home dwellers due to its strategic location tucked between Putrajaya, Cyberjaya, Petaling Jaya and Klang, Puchong’s elevated status in recent years has seen a natural push of house prices reaching new highs in the history of this place. "I think that there will be a lot of new commercial and mixed-used developments that will do well here," he says in speculation of Puchong's impending growth potential. The boom is reflected in the official opening of the Four Points hotel by Sheraton Puchong in Bandar Puteri, Puchong, a development undertaken by IOI Properties Bhd in December last year.

The boom of Bukit Jalil "Bukit Jalil was practically non-existent as a township. The rest of Bukit Jalil back then was brand new prior to the Commonwealth Games in 1998 as compared to Bandar Baru Sri Petaling now which is a huge township with lots of houses and commercial centres with the Endah Parade Shopping Centre developed by the I&P Group," he says. “It was previously the Commonwealth Village that saw the growth spurt of hundreds and hundreds of condominium units with the whole infrastructure having benefited from the games, with the biggest and most significant initiative being the LRT (light rail transit) leading to the Bukit Jalil stadium, the Bukit Jalil Golf Club and the International Medical University.

4 The boom of this mature neighbourhood can also be seen reflected in the official opening of the Four Points hotel by Sheraton Puchong in Bandar Puteri, Puchong, a development undertaken by IOI Properties Bhd in December last year.

Today, Bukit Jalil is a bustling area with the university attracting thousands of students. "If you live in Bukit Jalil, you can take the LRT from there to go to other parts of KL. You can also drive from Bukit Jalil to Sri Petaling, and from there travel to Old Klang Road and to other parts of town as it’s very connected," he says. Hence, Bukit Jalil, boosted by strengthened connectivity, holds much potential as a property hotspot worth exploring as improved accessibility and connectivity continue to establish convenient linkages to other parts of the city.

5 PPC International (agency) CEO Shanker believes that even in bad times, properties in mature locations, such as Old Klang Road, Puchong and Bukit Jalil can hold their own and retain their penchant as “good places to live, invest and do business”. 6 C H Williams Talhar & Wong‘s Foo says that the transacted value of properties in certain older neighbourhoods have experienced double digit growth in the past few years although he anticipated the growth of capital appreciation in 2015 to likely be slower due to the cautious market outlook.

An analysis of Old Klang Road, Puchong and Bukit Jalil C H Williams Talhar & Wong Sdn Bhd managing director Foo Gee Jen has some very certain thoughts about Old Klang Road, Puchong and Bukit Jalil. "In the early 80s, Puchong primarily comprised old tin mining lands and rubber plantations such as Kinrara, Bukit Gajah and Castlefield. The development of Puchong was a natural progression from the west when land banks in Bandar Sunway, Subang Jaya and USJ were getting scarce and expensive. The establishment of Putrajaya as the new Federal Capital and Cyberjaya as the Multimedia Super Corridor (MSC) has further boosted the development momentum in Puchong," he points out. "The connectivity enhancement in Puchong, including the light rail transit (LRT) extension, is one of the main key drivers that drove the capital appreciation in Puchong especially for landed residential units. Also, with infrastructure such as the LDP, Lebuh Raya Shah Alam (Kesas) and the South Klang Valley Expressway (SKVE) in place, developments have been mushrooming in Puchong. There is also anticipation for it to grow into a satellite city like Petaling Jaya and Subang Jaya." According to Foo, residential developments in Puchong are predominantly made up of landed properties while high-rise developments within the locality include SetiaWalk with its serviced apartment and SoHo units. "The serviced apartment units that were launched in phases at an average of RM320 per sq ft between 2008 and 2010 are today being transacted at an average of RM590 per sq ft, which is an increase of about 80% over the past four to six years."

sq ft, and double-storey terrace houses with land area of 1,400 sq ft in Bandar Nusa Putra and Bandar Bukit Puchong were surveyed. Source: WTW Research

Giving his take on developments situated along Old Klang Road, Foo says that he views this as a steady progression spilling over from Petaling Jaya, and extending further south to Bukit Jalil. "Developments located along Old Klang Road have been picking up in terms of capital appreciation in recent years which is likely due to the location factor with Mid Valley City being within the vicinity. "High-rise developments such as Scott Garden SoHo (Small office Home office) has seen an appreciation in the transacted price since 2014 going up by approximately 30% to RM600 per sq ft as compared to its price launch at about RM465 per sq ft," he observes. He says a common denominator of new launches located along Old Klang Road that include 9 Seputeh by Gapurna-MRCB, Verve South by Bukit Kiara Properties, Avantas Residence by CPI Development, Residency V by Kerjaya Prospek, Southbank Residence by UOA, Suria Pearl by Aikbee Timbers and Petalz by Exsim are now noticeably priced between around RM720 per sq ft and RM800 per sq ft. "Established landed residential developments in the locality of Old Klang Road have also seen an upsurge of average transacted price in the last five years," he concludes. Established landed residential developments in the locality of Old Klang Road have seen an upsurge of average transacted price in the last five years.

The enhancement of connectivity including the LRT extension is one of the main key drivers that has driven the capital appreciation in Puchong especially for landed residential units as shown in the following table: Average transacted price

Average transacted price Year 2010 (RM per sq ft)

Year 2014 (RM per sq ft)

Happy Garden

300

490

63%

Overseas Union Garden

290

520

79%

Growth (%)

Year 2010 (RM per sq ft)

Year 2014 (RM per s0q ft)

Bandar Puchong Jaya

255

440

72%

Bandar Nusa Putra

212

385

82%

Bandar Bukit Puchong

198

371

88%

Note: Double-storey terrace houses in Bandar Puchong Jaya with land area of 1,500

Growth (%)

Note: Double-storey terrace houses in Happy Garden were sampled with land areas of between 1,540 sq ft and 1,680 sq ft, whilst double-storey terrace houses in Overseas Union Garden were sampled with land areas of between 1,550 sq ft and 1,765 sq ft. Source: WTW Research

"Bukit Jalil meanwhile, is a very accessible location which is linked to the city centre via the KL-Putrajaya Highway - Maju Expressway (MEX) and Besraya Highway (Besraya). Apart from that, the extension of the LRT from Bukit Jalil to Kinrara, Puchong and Subang Jaya is likely to increase the popularity of Bukit Jalil and Puchong."

Bukit Jalil is known for its high-rise residential developments, of which the average transacted prices of the newly completed properties in the secondary market are as follow:Developers’ initial selling price (RM per sq ft)

Average transacted price in 2014 (RM per sq ft)

Growth (%)

Kiara Residence

350*

505

44%

The Treez

465*

687

47%

The Z

400#

534

33%

*Projects launched at end 2010; # Project launched in 2011. Source: WTW Research Note: Average transacted prices for landed residential units are based on the land area. Average transacted prices for high-rise units are based on built-up area.

In summary, Foo explains that the transacted value of the properties in these localities have experienced double-digit growth in the past few years. However, in terms of anticipated growth of capital appreciation in 2015, he says, is likely to be slower due to the cautious market outlook. "The take-up rate that depends on the type of products offered will remain positive, given the fact that developers will offer products with appropriate pricing that can be accepted by the market," he concludes.

STARPROPERTY.MY SUNDAY 17 MAY 2015

SPECIAL FOCUS

Finding gems in mature areas A few good developers are seeking to unlock the value of older townships in the name of addressing rising demand for housing amid challenging market conditions brought about by increased cost of construction and land. By YVONNE YOONG yvonneyoong@thestar.com.my

VEN as the dust starts to settle after the implementation of the goods and services tax (GST) that kicked in last month and the vision on the ground gains greater clarity, it is becoming obvious that while some developers are choosing to delay their launches, there are still some savvy ones who are tilting towards more positive sentiments. These developers are willing to take the bull by the horns by launching their projects to the market in these uncertain times. Admittedly, if one were to compare the slew of launches this time round to last year, having coursed mid-way through round the second quarter of 2015, it is obvious that there are way fewer property launches now, signalling a cautious approach being adopted by most developers. And yet, there are a handful of the more optimistic developers who are putting no stops to their launches as in the case of Trinity Group Sdn Bhd. “Investment in properties is a good hedge against inflation. When GST was first implemented in Singapore and Australia, their inflation rate went up in the first two years,” observes Trinity Group CEO (chief executive officer) Datuk Andy Khoo Poh Chye. He says that to have a sustainable property market, it would be prudent to “control the flame but not put out the fire.” By this, he means that although it is good for banks to be stringent in granting endfinancing to purchasers, he maintains that they should exercise greater flexibility in not over-tightening the loan eligibility, especially for the affordable and mid-range properties priced below RM700,000. However, having said that, Trinity Group continues to forge ahead with its launches in confident assurance that there is still benefit for purchasers, in view of anticipated future capital appreciation on its properties. As it is one of the savvy developers riding on the emerging global trend of rejuvenation and the redevelopment of mature townships, Trinity Group is looking with renewed interest at such locations as part of its value creation strategy.

Discovering hidden gems Mature neighbourhoods such as Puchong, Seri Kembangan and Bukit Jalil have proven to be property gold mines for the company in overcoming challenges such as land becoming more scarce and hence, increasingly in cost. It helps that connectivity has already been established with a ready network of highways and infrastructure readily in place in these mature townships. Having already built a solid reputation for carving a niche in terms of “bringing affordable luxury living” to its buyers, it is also looking for hidden gems in mature townships and is not oblivious to the fact that there is much potential in these neighbourhoods. “We launched The Zest @ Kinrara 9 in

Bandar Kinrara, Puchong, six years ago and Zeva @ Equine South in Puchong South, Seri Kembangan, and Z Residence in Bukit Jalil three to four years ago and prices there have since doubled. I see KL South representing Puchong, Seri Kembangan and Bukit Jalil as unpolished gems waiting to be discovered. In fact, if you look at the wave of properties launched some five to seven years ago in these locations, you will see that property prices have since doubled,” he observes. 1 Zeva @ Equine South, which is spread across 3.7 acres and expected to be completed in June, has a gross development value (GDV) of RM282mil. Being the first-of-its-kind, integrated development in Seri Kembangan comprising 446 serviced apartment units and 320 studio units (ranging between 454 sq ft and 1,536 sq ft) with 12 shops and boutique retail units occupying a total gross area of over 250,000 sq ft, about 95% of its units have already been sold. The growth potential for this development is expected to be high as its location provides ideal connectivity to Cyberjaya, Putrajaya and even to the city via Lebuhraya Damansara-Puchong (LDP), South Klang Valley Expressway (SKVE), Besraya Highway (Besraya), Maju Expressway (MEX), North-South Expressway (PLUS) as well as the proposed Serdang-KinraraPutrajaya Expressway (SKIP) and KinraraDamansara Expressway (Kidex). Its close proximity to upcoming infrastructure, such as the LRT station (Ampang Line) and the proposed MRT Line 2 (Taman Sri Serdang), further helps to maximise capital appreciation and rental yield. “We foresee much future potential in these areas due to the infrastructure (upgrades) and other upcoming facilities. On the other hand, parts of Seri Kembangan/Puchong South which were once rubber and oil palm estates have today been transformed into thriving townships surrounded by popular hotspots which include shopping malls, hypermarkets, educational hubs and a host of eateries, food joints and restaurants, financial institutions and places booming with commercial activities. “Even property expert Ho Chin Soon recommends Zeva as having the potential to rise in value appreciation within the first-tier radius of the investment centre of gravity of Greater Kuala Lumpur,” he maintains. Trinity Group’s The Zest @ Kinrara 9 development in Puchong with a GDV of RM250mil that was launched in 2009 comprising serviced apartments with an average built-up area of 1,205 sq ft also recorded good capital appreciations, showing an increase from its original selling price of about RM276,888 hovering at RM230 per sq ft to around RM675,000 in terms of its sub-sale price or approximately RM560 per sq ft.

1 The landscaped Floating Garden provides a cooling atmosphere between the two by two blocks of Z Residence. 2 Trinity Group CEO Datuk Khoo says the company will continue to forge ahead with launches in mature locations. 2

Trinity Group’s innovative integrated marketing approach ascertains upcoming trends to set it on the cutting edge of new concepts to enhance the lives of its purchasers and the community at large. It is for this reason that as a niche boutique developer, its ability to stay agile has enabled it to venture into the mature neighbourhoods of Puchong, Seri Kembangan and also Bukit Jalil in a quest to unlock the potential of the land. In Bukit Jalil, it unveiled its freehold Z Residence @ Bukit Jalil development comprising 1,136 condominium units with built-up areas ranging between 1,032 sq ft and 1,407 sq ft spread across 6.7 acres. The development that has a GDV of RM580mil, which was completed on scheduled in June last year, achieved a capital appreciation of 168% as of January 2015 compared to its launch in 2011. Commenting on the key catalysts taking shape in mature townships such as Bukit Jalil in terms of redevelopment and rejuvenation, he anticipates property prices in this mature precinct to appreciate. This is a far cry from the early days whereby Bukit Jalil was once a secondary jungle. “Today, Bukit Jalil has grown into a bustling township with key amenities and conveniences located in the established neighbourhood. Furthermore, with the upcoming Pavilion 2 in Bukit Jalil, the mall will bring new excitement and a fresh alternative, which will attract a large catchment area that will bring up the value of the surrounding properties. This will transform the classic high-rise residential area into a shopping hub,” he says drawing a parallel to Mont’ Kiara some 10 years ago, which has transformed from a lush jungle park to an affluent township. Having just launched Trinity Aquata KL South in the suburban enclave of Sungai Besi on approximately 3.58 acres following an overall water theme, he says the fact that it is a KL address and freehold, and being located in close proximity to Puchong holds the development in good stead for capital appreciation. He extols the fact that this development bears a KL address with good connectivity. Already, another project is being planned for kick-off in the first quarter of next year comprising serviced apartments in Serdang that will be located near the new station in Puchong.

3 Artist's impression of 3Elements Puchong South developed by Titijaya Land Bhd's subsidiary Safetags Solutions encapsulates the ideal work-live-shop lifestyle balance and is located along the busy ring road of Puchong South. 4 Titijaya executive director Lim says 3Elements @ Puchong South is a good address.

Pride of Puchong South Another developer which has also ventured further to develop its project is Titijaya Land Bhd. 3Elements @ Puchong South, developed by its subsidiary Safetags Solutions Sdn Bhd encapsulates the ideal work-liveshop lifestyle in a city experience located in one of the most happening areas in Puchong South. Touted as one of the most innovative mixed developments set on 6.3 acres of prime land in Puchong South, it is strategically located in the rapidly developing commercial zone of Puchong South adjacent to Seri Kembangan and Putrajaya. The mixe development with a total GDV of RM429mil comprises four- and six-storey shop offices, two towers, flexi suites and serviced apartments. “The two office towers were designed to face the main road for maximum exposure while the serviced apartments are located further away from the main road for privacy and security,” says Titijaya executive director Charmaine Lim of this project that was launched two years ago and which is currently under construction. Since its launch in 2012 with the flexi suites being priced at approximately RM508 per sq ft, the average unit is now valued at approximately RM555 per sq ft. Sharing her take on this huge growth area that is waiting to explode, she believes that the previous perception of Puchong being located far away has now been shed thanks to the rapid progress of infrastructure. “Puchong South is a good address. It is very welldeveloped so we decided to venture further to Puchong South in Seri Kembangan to meet the needs of people who could not get a property there. Instead of being in the center of Puchong which is already developed, those who have purchased our flexi suites at more affordable prices now have the address they want while enjoying the conveniences and amenities in this area, not to mention benefiting from the easy accessibility here,” she says. Besides that, she says that the infrastructure connected to the highways such as MEX extending to other parts of the Klang Valley and Selangor and onward to Subang Jaya, Klang and Petaling Jaya makes its location in Seri Kembangan more easily accessible while being situated near Putrajaya and Cyberjaya.

Sunday 17 May 2015

Starproperty.my

A Special Offer for 1st time Home Buyers

No Money Down (*we will help you apply for your housing loan) Special 100 units from RM 300K only

As part of StarProperty.myâ&#x20AC;&#x2122;s initiative to help you own your 1st home, The Star would like to invite you to consider a very special offer designed just for you. We understand the challenges and concerns that many of you have when it comes to making that biggest commitment of your life. Buying a home is a big but necessary step for all of us. We have managed to convince a developer to sponsor this program so that you can own a property, which we believe is great for 1st time home buyers. It is affordable and is right next to an LRT station. This 1st Home of yours will also be in one of Klang Valleyâ&#x20AC;&#x2122;s largest integrated development. FREEHOLD and specially priced from only RM300-380K, there are only 100 units set aside specially for this program. And yes, it is only through this program, where we will help you Own your 1st Home with no money down and also assist you in getting your loan. If you are keen to take this special offer and find out more about this special program, please register by visiting the link below now!

Sign up now for a Special Tour & Preview of what we believe is development that you should not miss, especially If you are a 1st time home buyer.

For more information, visit

http://www.starproperty.my/ownit or email

ownit@thestar.com.my

brought to you by

STARPROPERTY.MY SUNDAY 17 MAY 2015

PROPERTY NEWS

propwall.my moves beyond property listings Propwall.my launches its new marketplace platform, propwall.mart, to bring more value to its customers – the real estate agents and negotiators. By MANGALESRI CHANDRASEKARAN mangalesri@ocision.com

AINING strong traction and acceptance in the real estate industry, propwall.my is fast becoming the preferred platform for Real Estate Agents (REAs), Real Estate Negotiators (RENs) and property developers to market their properties. To show the company’s gratitude, propwall.my organised The Propwall Agent Appreciation Night on April 30 at i-City Shah Alam, where propwall.mart or better known as the Propwall MarketPlace, was launched. As a means to bringing agents and property developers together, propwall.mart is designed to provide real estate agents and negotiators access to an array of properties directly from the participating developers. This helps all the real estate agents and negotiators to market and grow their real estate business by having more properties to market and sell to their contacts. "Our purpose is to serve our customers and ensure that we continuously add value to their business,” says propwall. my general manager Ernest Towle. “And, we can do this by leveraging on technology by creating a seamless digital platform for both agents, negotiators and property developers to work together.” He added that propwall.my will assist the participating agents and negotiators by providing marketing materials, coupled with training concerning the targeted developments placed into the marketplace. The sales commission from successful sales will be channelled to the negotiators via their respective agencies. The venue of the propwall.my agent appreciation night event was held at the recently completed i-Residence, Shah Alam, courtesy of i-City Properties Sdn Bhd. It was also attended by I-Berhad executive chairman Tan Sri Lim Kim Hong and B.I.G. Industries Bhd chairman Tan Sri Datuk Dr Lau Ban Tin. To kick start the marketplace, i-City is also putting into the marketplace 100 i-SOHO units for the real estate agents and negotiators to market and sell to first-time house buyers. Lau says that the members of propwall.mart will have an exclusive advantage of having access to the market to sell the project in i-City. A buyer and owner himself of the i-Residence, Lau adds that i-City is a unique integrated development that many people miss. “Not only the entire development is located on a freehold land, the biggest mall from Thailand Central Pattana and the world-class hotel chains such as Best Western and Hilton Double Tree will also be a part of this ultrapolis,” he adds. i-City is poised to be the pulse of Shah Alam with a ramp access already completed from the Federal Highway and the light train transit (LRT) line 3 stop right in front of its doorstep too. For more information on Propwall MarketPlace, please call 03-7492 2222 or email support@propwall.com

1 The entrance to i-Residence's quality homes that also have good panoramic views. 2 The swimming pool, one of the many lifestyle recreation facilities and amenities at i-Residence. 3 The launching of propwall. mart (From L to R): I-Berhad executive chairman Tan Sri Lim, I-Berhad director Monica Ong, Star Media Group property business unit general manager Timothy Hor and B.I.G. Industries Bhd chairman Tan Sri Datuk Dr Lau. 4 It was a night of smiles for the guests.

5 I-Berhad director Monica Ong surprised the guests that they are receiving a free pass each to the Red Carpet, Malaysia’s first all-stars interactive Wax Museum. 6 Guests were given a tour of the units at i-Residence. 7 & 8 Food galore for the guests. 9, 10 & 11 Happy looking guests with their goodie bags.

Sunday 17 May 2015

Starproperty.my

STARPROPERTY.MY SUNDAY 17 MAY 2015

VIEWPOINT

What is affordable for me might not be for you:

Perception versus the reality of affordable homes

REAL ESTATE INSIGHTS 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

State

Population as at 2013

Per capita average income 2013 (RM)

Assumed HH monthly income 2013 1 (RM)

35% HH monthly income for mortgage (RM)

Kuala Lumpur

1,730,000

79,752.00

10,633.60

3,721.76

Selangor

5,870,000

37,851.00

5,046.80

1,766.38

Johor

3,530,000

25,305.00

3,373.60

1,180.76

Penang

1,660,000

38,356.00

5,114.13

1,789.95

Perak

2,460,000

21,250.00

2,833.33

991.67

Negri Sembilan

1,080,000

33,033.00

4,404.40

1,541.54

860,000

34,109.00

4,547.87

1,591.75

Kedah

2,060,000

16,316.00

2,175.47

761.41

Pahang

1,580,000

26,759.00

3,567.87

1,248.75

Terengganu

1,120,000

23,285.00

3,104.67

1,086.63

Kelantan

1,710,000

10,677.00

1,423.60

498.26

Perlis

240,000

18,519.00

2,469.20

864.22

Sabah

3,540,000

18,603.00

2,480.40

868.14

Sarawak

2,630,000

41,115.00

5,482.00

1,918.70

Malacca

1 Assumption that one of the two income earner is 60% of the main one 2 For the house value it has been assumed: 30 years tenure and 4.5% interest Per capita income source: Department of Statistics

E will soon know how the 11th Malaysian Plan which spans five years from 2016 to 2020 would bring Malaysia closer to achieving the status of a fully developed country. This is in line with the tagline titled “Closing the Gap”, in addressing the Malaysian housing affordability issue. Expectations are quite high but unfortunately, I have the feeling that not many doable solutions will be materialised. Recently, I had the honour of jointly organising the First National Affordable Housing Summit 2015 with ASLI (Asian Strategic Leadership Institute) during which representatives from different government agencies, private industry and professionals alike discussed the possible solutions to this critical issue to complete the transformation of Malaysia into a fully developed country. During the entire forum, private and public representatives have kept on discharging responsibilities to each other without really coming up with new ideas and innovative solutions. In my opinion, when we talk about affordable housing, we should find a proper definition for this rather misused word Average as what is affordable affordable in Selangor might not value per state be affordable in other 2 2013 (RM) parts of Malaysia. 815,000 Even more importantly, we 390,000 should look at 260,000 what generating affordability is all 390,000 about. The first root 215,000 of this issue is the wealth distribution 340,000 which somehow 345,000 defines the “property purchasing power” of 170,000 the public. REI Group 280,000 of Companies has recently carried out 240,000 a survey on the real 105,000 level of income per household throughout 190,000 Malaysia. 190,000 By looking at the outcome of the 420,000 study, it appears quite clear that the social housing problem of low-cost houses

which is supposed to affect more or less six million Malaysians or, based on an average of 3.5 members per household, 1.7 million Malaysian families, remain an issue. The low-cost housing issue, however, affects only the bottom 20% of the population while the middle-class made up of 60% of the total 30 million population count or 18 million Malaysians to be precise, still face huge problems in finding appropriate shelter at reasonable prices. I have recently written an article about the Southern Push that middle-earners are subject to and explained how we will witness a massive southern expansion of the Klang Valley due to the hunt for affordable housing. Land cost is one of the main issues causing the high price of properties in the Klang Valley but, in the southern region of Selangor, land is still being transacted at very reasonable values. Both landed and high-rise residential units are rapidly mushrooming in South Puchong, Kajang, Bangi, Dengkil and Semenyih, with highly competitive and very affordable values recorded per sq ft. Thus, families will be able to purchase their dream homes, all at liveable sizes ranging between 900 sq ft and 1,300 sq ft for less than RM500,000. The Government is currently constructing and planning to construct new infrastructure that will allow connectivity to be established as a strategic component of the Southern Push factor. MRT (mass rapid transit) Line 1 and 2, LRT (light rail transit) Line 3 and several proposed BRT (bus rapid transit) lines will further generate positive and sustainable growth in the Southern Corridor. Infrastructure is not only limited to highways and public transportation systems but also other social benefits that the city has to offer that are still lacking in the southern region, such as hospitals, schools and educational institutions, kindergartens, retail areas and so on. All of these considerations make up the extremely important components in creating a sustainable and smart environment where families will be able to enjoy living in a safe place. This expansion will surely also attract the interest of investors and unfortunately, speculators. Hopefully, developers will dedicate less effort and passion in responding to this unhealthy demand and concentrate more on genuine buyers and long-term investors instead.

Sunday 17 May 2015

Starproperty.my

STARPROPERTY.MY SUNDAY 17 MAY 2015

VIEWPOINT

Imagination and the real estate market

“When we imagine the future, we only see today.” - Source unknown

AN OPINION DATUK STEWART LABROOY

Datuk Stewart LaBrooy is the chief executive officer of Axis REIT Managers Bhd.

was fortunate to attend a series of lectures in conjunction with the “Business of Innovation 2015” Conference organised by the London Speaker Bureau earlier this month which featured Sir Bob Geldof of “Live Aid” fame. During his speech, he asked the audience what would be the most disruptive technology this century will witness. Lacking an answer, he removed his smartphone from his pocket and reminded everyone there that we all should pay attention to the power of what we hold in our hands and how it will reshape our collective future.

The digital economy has arrived It started with the Internet back in the 1990s and as bandwidth expanded to allow the streaming of movies and music coupled with the birth of social network and the rapid digitalisation of our business, a revolution was created in the online world. Its impact on the way we do business is beginning to be felt in many industries that did not see it coming, and have had to scramble to change their business models or face collapse. We are witnessing the great transformation of the digital age. Among its victims are the following industries - newspaper print edition, brokerage, insurance, publishing, travel and now, the big box retail industry. All have had to make rapid changes to their business models, resulting in broad changes to their real estate requirements. Professor Douglas McWilliams, one of UK’s leading economists, just launched a book called The Flat White Economy: How the Digital Economy is Transforming London

and the Other Cities of the Future. In it, he describes the cultural shift over the past decade from the champagne-soaked city to the coffee drinking technophiles. The flat white economy -technology, creativity and marketing made up 7.6% of the UK’s GDP (gross domestic product) and is expected to rise to 15.8% by 2525.

The next wave of demand So, how do we look into the future and see how our economic demand for real estate will evolve? The key is to see if we too will follow the path of technological innovation and predict how those companies and their employees will view their office accommodation choices. This revolution will also affect the entire civil service as we are witnessing an unprecedented move by governments to adopt online solutions for dealing with the public/government services interfaces. Counter services could be a thing of the past. For companies today, staff retention is high up on the agenda. Losing starfee earners, whether they be from the capital markets or technology companies, is damaging for businesses, and many are realising that even the cost of replacing support staff can be higher than the rent paid on their workstations. In order to accommodate economic and population growth, a city can either move outwards or upwards. Moving outwards was a trend that was popular in the 80s and 90s that led to the birth of “Bedroom Townships”, such as Subang Jaya, Bandar Utama, Sri Hartamas, Mont' Kiara, Bandar Sunway and Puchong, to name a few. However, such decisions break up business clusters and create the traffic chaos

“I believe that the next wave of workers in the cities will be looking at city living with all the amenities close at hand and to their place of work. Demand for knowledge workers is increasing so is the need to accommodate them in buildings that they find attractive.

workers. In the 70s and 80s, it was always a question of cost that companies wanted to minimise but with little thought on how to boost productivity. However today, firms are viewing real estate as a means of controlling a much bigger cost due to staff retention. This has coincided with a move back to the city centres to live. In short, they are wanting to create a work/life balance for the new generation of employees. Companies are now approaching space from the perspective of:

that we witness today as more and more people live away from the city and have to find their way to work every day.

We have seen an unprecedented building boom of new skyscrapers, with much more to come. Will every developer get it right? Probably not, but there are some very attractive new developments with integrated F&B (food and beverage) outlets and accommodation blended into a single offering. I believe that the next wave of workers in the cities will be looking at city living with all the amenities close at hand and to their place of work. Demand for knowledge workers is increasing so is the need to accommodate them in buildings that they find attractive. The future success of these new skyscrapers may take many of us by surprise. If we had any imagination, we would have seen it coming.

A skyscraper boom? Today, world cities are in the midst of the skyscraper boom (defined as a building exceeding 350 ft in height). This is seen as a means of resolving the major economic and geographic changes facing cities. London has added 23 new skyscrapers since 2000 compared to 17 in the preceding 40 years. Meanwhile, New York has added four new towers last year alone. The new enthusiasm for vertical buildings in cities is the change in the perception of companies in relation to their

> Creating an office space that staff want to be in. > Changing working habits through office design, thereby enabling a higher degree of collaboration among staff members in the workplace. > Encouraging the new workforce to move into city centres to be near their workplace.

Sunday 17 May 2015

Starproperty.my

Sunday 17 May 2015

STARPROPERTY.MY SUNDAY 17 MAY 2015

23FEATURED DEVELOPMENT

Community Living In A Gated And Guarded Residency

To cater for well-designed secure homes in the affluent township of Bandar Rimbayu, IJM Land Bhd has launched Wisteria, a G&G neighbourhood with linear parks.

1 Artist's impression of Wisteria, uniquely designed homes amidst Mother Nature.

By MANGALESRI CHANDRASEKARAN mangalesri@ocision.com

AMED for providing splendid developments with exceptional craftsmanship, IJM Land Bhd strives to achieve more as the firm launched its high-end trendy homes in the green township of Bandar Rimbayu, located close to Kota Kemuning, Selangor. Developed with excellent connectivity, Bandar Rimbayu provides easy accessibility via the Shah Alam Expressway (Kesas), Shah Alam â&#x20AC;&#x201C; Kota Kemuning Expressway (LKSA), South Klang Valley Expressway (SKVE), North â&#x20AC;&#x201C; South Expressway Central Link (Elite), as well as the upcoming West Coast Expressway (WCE). IJM Land recently won an award for its spectacular landscape in Bandar Rimbayu, forThe ARC which provides a 360-degree view of the entire neighbourhood. The township saw the launch of Chimes, Perennia, Periwinkle and Scarlet, comprising double-storey link and semi-detached houses, followed by the recent launch of the Wisteria. Developed on 23.18 acres of freehold land, Wisteria comprises 231 units of doublestorey link homes with spacious built-ups ranging from 2,388 sq ft to 2,449 sq ft. The residences with a gross development value of RM220mil is slated for completion in 2018.

Designed to perfection Cleverly designed to maximise comfortability, Wisteria offers three unique designs for buyers to choose from. Each of the unit is designed to provide ample space with a price tag starting from RM881,800 onwards. The Type A (land area of 23 ft x75 ft) offers two layouts, both equipped with a three plus one rooms and four bathrooms layout. The intermediate unit offers a builtup area of 2,424 sq ft and 2,446 sq ft builtup area for the end lot unit. Meanwhile, the Type B (land area of 23 ft x 80 ft) units come with three plus one rooms, one powder room and an en-suite bathroom in each room. The intermediate unit in Type B has 2,388 sq ft built-up area while the corner lot comes with 2,454 sq ft built-up area. Furthermore, the Type C (land area of 23 ft x 80 ft) unit has the same layout with Type A which has three plus one rooms and four bathrooms layout. The intermediate unit for Type C has 2,449 sq ft built-up area while the corner lot unit offers 2,492 sq ft built-up area. The units are spaciously designed with a dual frontage and lifestyle living for Type A and C. The linear garden at the back allows residents to enjoy the garden view from the living hall and the master bedroom. Each master bedroom also offers a walkin closet space with an en-suite bathroom,

2 The alluring night view of The ARC, the icon of Bandar Rimbayu. 3 Artist's impression of the serene linear park as viewed from the homes. 4 Artist's impression of the exquisite high-end homes in Wisteria. 5 Artist's impression showing the overview of Wisteria @ Bandar Rimbayu. 6 Artist's impression of the elegant entrance to Wisteria, a gated and guarded neighbourhood.

a feature that is mostly desired by home owners to be incorporated in their homes. Also included is an eight-foot tall entrance door, providing a grand and elegant entrance to all units, which is also incorporated in all the rooms. Well-crafted with quality finishings and fittings, Wisteria is set to exceed every resident's expectations with green technologies that are well-blended into its development. The key features of its design include solar panel water heater systems, rainwater harvesting tanks, dual flush water closets and skylights upstairs and family hall area, to minimise the usage of water and electricity and to emphasise on the usage of natural resources. The units at Wisteria offer high ceilings and larger floor areas, besides providing good daylight and ventilation. Residents' privacy is well assured as the units are spaced far apart from each other with wide roads and linear parks. The importance of safety and security measures have been carefully thought of in Wisteria, as this G&G development is equipped with close circuit television (CCTV) surveillance, perimeter fencing, adequate streetlights, basic home alarm system, auto gate system and 24/7 security guards and patrols. "Living in Wisteria means having green spaces, a central park and community hall to enhance healthy living and community engagement besides being an inspiration for a serene living within nature," says Bandar Rimbayu Sdn Bhd senior manager of sales

1 2

and marketing Susan Teh. As the developer of the township, IJM Land has a strong track record of building exceptional developments which give long-lasting impression, as seen in Bandar Rimbayu, which without a doubt, will be one of the most anticipated townships of IJM Land Bhd.

Starproperty.my

Sunday 17 May 2015