Harimau Capital

IPOH’S trademark taugeh chicken with kuey teow noodles is the city’s well-known street food, and some of its other delicious food include Ipoh sar hor fun, Ipoh salted chicken or yim kok kai (in Cantonese), Ipoh old white coffee, Ipoh hainanese chicken rice and rendang tok.

Despite having a population of more than half a million people, Ipoh still comes across as a small town offering relaxant panoramas, clean and fresh air, mountains where visitors can go for a one-day trekking, pleasant and exclusive environment with plenty of water features and natural lakes.
It is rather interesting to note that Ipoh has been named as one of the nine best places to retire in the world.

It is an affordable place to live for retirees and expatriates since the cost of living is generally lower, and the traffic condition is unlike that in Kuala Lumpur and Penang due to the lack of high-rise buildings in the town centre. More importantly, the property prices in Kuala Lumpur and Penang are extremely expensive, whereas property in Ipoh is a fraction of that.

For the past two years, housing and commercial estates have been mushrooming around Ipoh. What is responsible for the growth of this quaint, rustic town’s property market?

In an interview with Andaman Property Management Sdn Bhd’s managing director Datuk Seri Dr Vincent Tiew, he touched on this and other related matters.

“Generally, current perception among most of the non-Perakian is that Ipoh is the best place to retire.
IpohisknownastheCityofMillionaires,oneof the early cities in Malaysia where the population is getting richer.

Many of its people are migrating to cities such as Penang, Johor Baru or Kuala Lumpur to pursue higher education and they would likely remain at their place of studies.

BANDAR SUNWAY ~ 27 AUG, Sunway Berhad bagged a total of four awards at the Southeast Asia Property Awards Malaysia 2014 at its Gala Dinner held at Westin Kuala Lumpur recently. Ong Ghee Bin, Executive Director of Property Development Division, Central Region, Malaysia received the award from Mr David Aboud, the chairman of the judging panel and the Director, Investments and Assets Management, Asian Real estate, guidance investments.

Sunway Berhad came out on top for the Best Developer category, while Sunway Wellesley represented by Ahila Ganesan, Assistant General Manager of Sunway Penang received Best Housing Development (North Malaysia) category. Sunway Montana represented by Ong Ghee Bin, received Best Housing Development (Central Malaysia) category while Sunway Lenang Heights represented by Tan Wee Bee, Executive Director- Property and Construction, Southern Region, Malaysia and Singapore received Highly

Commended under the Best Housing Development (South Malaysia) category. Sarena Cheah, Joint Managing Director – Property Development Division, Malaysia and Singapore said that Sunway is humbled to have garnered four recognitions at SEAPA (Malaysia) 2014. “We are pleased to receive these recognitions as they help us benchmark our developments against the best in the region.

Sunway is always striving to better our developments and the brand for our communities while elevating liveability for all Malaysians. We not only build townships but we celebrate the communities living in it by making our very best efforts to offer them the finest products and services throughout their journeys with us.

Sunway remains committed to being a master community builder. We would not be here without their trust, loyalty, and support. We look forward to represent the country at the regional awards,” she said. Sunway Wellesley is Sunway Property’s first residential development in mainland Penang.

The 82 acre development with stunning contemporary homes adorned with lush feature-rich landscape is located in Bukit Mertajam with a total gross development value of RM 800 million.

Sunway Montana is a freehold green development in the pristine Desa Melawati with a 14 acre park inclusive of a skywalk and an RM 10 million clubhouse. Merely 13km away from KLCC, each abode is designed with the latest sustainable innovation.

Sunway Lenang Heights is an exclusive gated freehold 88 acre residential development situated at Taman Molek, Johor Bahru. With 60% green, the development features lush landscaping with extensive parks and an ultramodern clubhouse.

The developer awards are judged based on a total of five criteria, which includes reputation image and CSR, quality of projects, track record, innovation and major achievements. The development awards on the other hand are judged based on seven criteria including design and amenities, location, value for money, use of space, construction and materials, unique selling points, state of completion and sales success.
 

The Award recognizes the high calibre work within the Asian real estate industry, encompassing construction, architecture and interior design. Started in Thailand in 2005, the Asia Property Awards have since expanded to reward developments, consultants, architects and designers in China, Singapore, Malaysia, Indonesia, the Philippines and Vietnam. Sunway Berhad will join the winners from Indonesia, Singapore, and Vietnam to compete at the grand finale South East Asia Property Awards on October 16 in Singapore.

KUALA LUMPUR: Mah Sing Group Bhd’s mixed development slated for the Puchong land that it proposed to acquire yesterday will increase the group’s gross development value (GDV) and unbilled sales by approximately 23% to RM50 billion and bring about earnings visibility for the next eight to 10 years.

The project has an estimated GDV of RM9.3 billion. Mah Sing has proposed to acquire the 88.7-acre (35.9ha) tract in Puchong for RM656.9 million or RM170 per sq ft (psf) from Huges Development Sdn Bhd.

Mah Sing was granted a four-year deferred term on the purchase, whereby 10% of the consideration will be paid upon the signing of the agreement, with the balance 90% stretched over 48 months.

According to a filing with Bursa Malaysia yesterday, Mah Sing said its wholly-owned subsidiary Mah Sing Group Ventures Sdn Bhd had signed a memorandum of understanding (MoU) with Huges Development to purchase or form a joint venture on a nearby piece of land measuring 170.58 acres.

The MoU will last for four years. During the MoU tenure, Huges Development will negotiate first with Mah Sing Ventures for development plans on the land, “failing which, Mah Sing Ventures shall have the first right of refusal for any arrangement in respect of the subject land”.

As for the 88.7-acre land, Mah Sing said it plans to develop serviced residences, office towers, shop offices, retail lots, a retail mall and a hotel there. The development of the project, work on which is expected to begin next year, will stretch over a period of 10 years.

According to Mah Sing, the units will cater to a full range of customers and will appeal to the mass market and medium- to high-income households. For the serviced residences, prices will start from RM585,000, it said.

Based on satellite images provided in the filing, the land Mah Sing has proposed to purchase is located in the vicinity of IOI Mall, and is in one of the biggest catchment areas in Puchong.

Mah Sing said the terrain is “generally flat” with its status currently  industrial.

Mah Sing also said the land is easily accessible via several highways, adding that various modes of transport will also be available in a couple of years.

“With the proposed acquisition, the group will have earnings visibility for eight to 10 years, thus providing greater clarity to shareholders on the earnings sustainability of the group,” it said, adding that its land bank will increase to approximately 3,720 acres from approximately 3,631 acres currently.

Analysts are positive on over the purchase, given that the price is deemed reasonable for a mature market.

RHB Research Institute’s Loong Kok Wen is positive on Mah Sing’s purchase because of the demand for properties in Puchong.

“The price is reasonable and it is similar to the price that Hua Yang Bhd paid in October 2012 at RM124 per sq ft,” RHB Research property analyst Loong Kok Wen told The Edge Financial Daily.

“However, Mah Sing’s proposed purchase is situated much closer to IOI Mall than the land Hua Yang bought.”

Loong, however, said Mah Sing’s proposal to sell the property on the land at about RM650 psf seems a tad pricey, given that it will be a high-rise development.

“But based on the popularity of Mah Sing’s Lakeview Residences, I think the group will package the property in a similar fashion by providing furnishing to [make them more] appealing to buyers,” said Loong.

She said while RHB has raised its fair value on Mah Sing to RM2.71 from RM2.58 after this purchase, the research house believes that Mah Sing’s rerating hinges on the status of its proposed RM359.557 million land purchase in Rantau, Negeri Sembilan. RHB has retained its “neutral” call on Mah Sing.

Mah Sing said on Tuesday that the land in Rantau, measuring 1,051 acres, has a caveat lodged on it and that it will evaluate its options.

The other three to have made submissions for Project MX-1 by its May 27 deadline are Malaysian Resources Corp Bhd, Guocoland Malaysia Bhd and Putrajaya Holdings Sdn Bhd.

Only one developer will be awarded the contract, and it will be based on the merits of its submission, said EPF’s unit, Kwasa Land Sdn Bhd.

The adjudication process for all of the Project MX-1 submissions by an independent panel of consultants from various fields would take two months, said Kwasa Land in a statement yesterday, adding that thereafter, the successful tenderer would be announced.

Kwasa Land is the master developer of the 932ha township called Kwasa Damansara

In March, it invited 20 Tier-1 developers with paid-up capital of RM1 billion and above to submit a Request for Proposal (RFP) for Project MX-1. The deadline for the RFP was May 27.

Project MX-1 is a 24ha town centre that is expected to generate more than RM3 billion in gross development value.

The 14 developers that did not meet the deadline were Sunway Bhd, Tropicana Corp Bhd, WCT Bhd, Bandar Raya Developments Bhd, IJM Land Bhd, IOI Properties Bhd, DRB-HICOM Bhd, Eastern & Oriental Bhd, Gamuda Bhd, Mah Sing Group Bhd, Goldis Bhd, Bandar Utama City Corp Sdn Bhd, I&P Group Sdn Bhd and Perbadanan Kemajuan Negeri Selangor.

One of the developers told Business Times that it could not meet the deadline as the time frame given was “too short”. Another developer said it had decided to pull out as the land price was too high for a commercial project in the Sungai Buloh area.

A spokesman from Mah Sing said  the company decided to give Project MX-1 a miss due to the high commercial content in the master plan.

“Mah Sing is focusing on residential projects at the moment. We  will bid for projects in Kwasa Damansara that  are more residential-focused,” said the spokesman.

Kwasa Land will invite Tier-3 Bumiputera developers for the inaugural Bumiputera development and Tier-2 developers for a residential development in the third and fourth quarter, respectively. -NST Business Times

PETALING JAYA: China’s Country Garden Holdings Co Ltd and Kumpulan Prasarana Rakyat Johor (KPRJ) have drawn out plans for a massive reclamation project to build luxury homes near Pendas in southern Johor near Singapore, according to sources.

Sources said that the project could entail a land area of “a few thousand acres,” which would make it one of Iskandar Malaysia’s single largest projects.



It isn’t clear how much Country Garden is pumping into the project, but going by its size, it would dwarf the Hong Kong-listed firm’s first project in Danga Bay, which only covered an area of 50 acres or 20ha, for which it had paid RM900mil.

The new project is being dubbed Forest City.

Industry sources said that such a reclamation project would probably be the largest reclamation project in the country, and that the parties embarking on it would have to have deep pockets.

Country Garden had cash and bank deposits amounting to 21.51 billion yuan (RM11.37bil) as at June 30, 2013.

KPRJ, on the other hand, is the state government’s investment arm. It owns 30% in Iskandar Waterfront Holdings Sdn Bhd (IWH), which, in turn, has 1,619ha of land in Iskandar Malaysia.

Country Garden is already well-known in the Iskandar region for its maiden project in Malaysia, Country Garden@Danga Bay, which surprised the Malaysian property market when it launched 9,000 condominium units at one go last year.

The RM10bil project is built on the land in Danga Bay it had acquired for RM900mil in December 2012.

It is understood that the new project by the Country Garden-KPRJ joint venture, which is situated near the second link crossing to Singapore, will also become a new tourism hub.

Previous reports have indicated that the Johor government might also consider creating Malaysia’s biggest duty-free zone in this reclaimed land area, leveraging on its proximity to Singapore.

The location of the new Country Garden-KPRJ development is also close to Singapore tycoon Peter Lim’s multi-billion-ringgit Motorsports City project, which will include a Formula One-compliant racing test track as well as showrooms, garages and entertainment outlets spread over 109ha.

The new Country Garden-KPRJ project illustrates the growing interest among mainland China developers in Iskandar. The Chinese already have a strong presence in the southern region.

Besides Country Garden, another developer, Guangzhou R&F Properties Co Ltd, made a record-breaking deal when it paid RM4.5bil or RM891 per sq ft to the Sultan of Johor for 47ha of land in the vicinity of the old Customs, Immigration and Quarantine Complex.

Sources said there were at least another three China developers in talks to acquire land in Iskandar.

Meanwhile, the sale of reclaimed land seems to be also becoming a trend in Johor. Prior to this, IWH had sold a 28.33ha man-made island at Danga Bay to Temasek Holdings Pte Ltd and CapitaLand Ltd for RM800mil, while the land Guangzhou R&F bought is partially reclaimed land.

Where’s the hottest luxury real estate market in the world? Try Jakarta – for the second year in a row.


According to Knight Frank’s Prime Global Cities Index, which tracks luxury real estate markets in 30 cities around the world, prices for top homes in the Indonesian capital rose more than in any other city, up 37.7% at the end of 2013 from the year before.

Liam Bailey, Knight Frank’s global head of residential research, cited “very limited supply” and “very strong” demand as factors driving Jakarta’s high luxury property prices, “even if the Indonesian economy isn’t as strong as it was maybe two years ago.”

It’s the second year in a row Jakarta has topped the list. In 2012, the city saw its upper echelon of homes jump 38% in price from 2011.

The increase in Jakarta was more than double the price rise in second-ranked Dublin (17.5%) and Beijing (17.1%). Ranking No. 4 and 5, respectively, were Dubai (17%) and Los Angeles (14%). The brokerage firm, which released its quarterly update on Tuesday, defines “prime real estate” as homes that were sold in the top five percentile in terms of value.

Meanwhile, Singapore and Hong Kong, which were once hot real estate markets in Asia just three years ago, have cooled thanks to government measures, such as higher stamp duties, intended to restrict speculation and foreign buying. Specifically, these measures have “impacted the flow of Chinese money coming into those markets,” Mr. Bailey said.

Those two markets saw slight decreases in 2013 – Singapore was down 0.8% and Hong Kong declined 2.2%.

Among the global financial centers, New York ranked No. 9 (10.4%) and London ranked No. 12 (7.5%)
Which way is the global real estate market heading in 2014? Look to London, Mr. Bailey said. “It’s the bellwether. Price growth is strong but it’s going down. We’re seeing the effect of the fear of rising interest rates,” he said.

See the full list of the 30 cities in the Knight Frank Prime Global Cities Index, ranked by price increases in last quarter of 2013 compared to the same year-earlier period.

Knight Frank Prime Global Cities Index

1. Jakarta 37.7%
2. Dublin 17.5%
3. Beijing 17.1%
4. Dubai 17.0%
5. Los Angeles 14.0%
6. Tel Aviv 12.7%
7. Bangkok 12.3%
8. San Francisco 10.4%
9. New York 10.4%
10. Sydney 9.3%
11. Tokyo 7.9%
12. London 7.5%
13. Shanghai 7.3%
14. Monaco 6.0%
15. Vienna 5.5%
16. Kuala Lumpur 5.5%
17. Vancouver 5.3%
18. Madrid 5.0%
19. Nairobi 4.9%
20. Miami 4.3%
21. Mumbai 3.0%
22. Moscow 2.1%
23. St Petersburg 0.6%
24. Cape Town 0.2%
25. Rome 0.0%
26. Singapore -0.8%
27. Zurich -2.0%
28. Hong Kong -2.2%
29. Paris -4.0%
30. Geneva -8.0%

（赛城29日讯）房地产发展商MK置地控股有限公司（MKLAND，8893，产业组），将在赛城AutoVille建立一个总发展价值达1亿令吉的轻工业园。

 

该集团首席执行员阿密卡利夫慕斯达法卡迈勒说：“该轻工业园占地4.5公顷，将会兴建40个产业单位，包括排屋、半独立房屋，以及独立商业单位。目前，我们经已售出超过90％的单位。”

 

他称，排屋商业单位经已以每间150万令吉的价格出售予本地汽车公司、而半独立单位售价330万令吉，以及独立单位是640万令吉。

 

预计赛城的人口在2016年将会增至10万人，因此该处将是一个现成的市场，适合经营有关汽车业务，例如汽车陈列室、3S或4S中心、修理站、汽车维修服务中心，汽车配件和化妆品商店。

 

他在首日动工时告诉传媒：“现在，我们必须去到蒲种或龙溪来安装我们的汽车零件或配件。我们致力打造赛城为一个适宜居住的城市，并致力开发产品，以为当地社区提供方便。”

阿密卡利夫指出，预计该轻工业园将在明年底前落成。

 

他表示，在未来4年，MK置地还将会推出多项大型工程项目，涉及发展总值高达50亿令吉。

他透露，上述综合发展计划，将在该轻工业园邻近60公顷土地上，兴建住宅及商业单位。

他说，该项目将由集团旗下6家子公司负责策划。

 

他称，集团的目标是在明年获取6亿令吉的营业额，较今年的5亿令吉目标增加20％。

他补充：“为了实现目标，我们将会推出另外2个大型项目，包括综合产业发展，例如兴建3682个单位的可负担房屋，而整体发展总值达10亿令吉。”

 

- 光华日报

JOHOR BARU: Iskandar Malaysia has recorded total cumulative committed investments of RM128.21bil from its inception in 2006 until September this year, according to Johor Menteri Besar, Datuk Seri Mohamed Khaled Nordin.
 

He said the southern economic corridor managed to attract new investments worth RM9.28bil in the third quarter of the year, compared to RM7.56bil in the second quarter.
 

"Some 44% or RM55.81bil of these investments have already been realised. This shows that domestic and foreign investors are contributing real economic value to the country," he said at the launch of BioMalaysia and BioEconomy Asia Pacific 2013 here today.
 

To date, local investors contributed RM83.4bil (65%) of the cumulative committed investments, while the balance of RM44.81 billion (35%) was contributed by foreign investors, he said.

The top five countries with highest investments in Iskandar Malaysia for the January-June 2013 period are Singapore, Spain, Japan, the United States and the Netherlands, said Mohamed Khaled, who is also the co-chairman of Iskandar Region Development Authority (IRDA).

 
While the manufacturing sector recorded the highest cumulative committed investments at RM45.68bil, he said the economic corridor also saw increasing investments in other sectors including electric and electronics, petrochemical and oleo-chemical and food and agro-processing.
 

This is followed by logistics (RM4.81bil), tourism (RM2.5bil), healthcare (RM2.59bil), education (RM1.56bil), financial services (RM600mil) and creative industries (RM400mil), he said.
 

Other sectors that support the growth of the region include property development, in which the residential, retail and industrial segments collectively contributed cummulative investments of RM48.09bil as at June this year.
 

This was followed by utilities at RM12.64bil, government investment mainly in infrastructure and public works (RM8.31bil) and emerging technologies (RM1.03 bil), said Mohamed Khaled.
 

Meanwhile, IRDA chief executive Datuk Ismail Ibrahim, when met by reporters after the ceremony, said Iskandar Malaysia was en route to achieving its targeted investments of RM22 billion for this year.
 

In fact, he said the economic corridor might surpass its targeted investment for 2013. "Up until the third quarter of this year, we are already hitting slightly above the RM20bil mark, so we are optimistic of achieving that figure (RM22bil) and surpassing it," he said.
 

Due to the escalated investments figure for Iskandar Malaysia, Ismail anticipated there was a need for the economic corridor to increase its annual investment target.
 

The increase in the annual investment targets, he said, would ensure Iskandar Malaysia achieve its target of attracting RM383bil in total investments by 2035.

The increased target to RM24-RM25bil in investments annually for Iskandar Malaysia would begin in 2018 and span until the economic corridor achieve its maturity stage in 2025, Ismail added.



- The Star Biz


 

吉隆坡14日讯）首相署部长拿督斯里阿都瓦希指出，房產价格显著增长，显示房產市场当中有投机的成份，这番谈话加深市场对于政府將进一步打房的预期。

市场早前已经盛传政府將会在这一次的预算案中宣布进一步的打房措施，包括，提高產业盈利税及上调外国人买房的最低价格限制等。在这样的预期中，房產股近期纷纷走低。

阿都瓦希在2014財政预算案推出之前，于上週五与一眾经济学家会面，討论国家的財政与经济状况，並提及数项应付经济放缓的措施。

虽然，阿都瓦希在这项会话中並没有明確的透露政府將出手打房，然而，他在答复对于本地房地產市场有何看法时表示，房產价格显著的增长，显示房產市场当中有投机的成份，或人为操纵销售的行为。

PETALING JAYA: IJM Land Bhd has chalked up £150mil (RM787mil) in sales for its maiden project in London, the Royal Mint Gardens. Located on Royal Mint Street, Royal Mint Gardens comprises the first phase of a 2.7-acre mixed development project.

 

Since its simultaneous launch in Kuala Lumpur and London last Friday, some 75% of the 254 apartments of 387 sq ft to 1,431 sq ft have been sold. The residences have indicative selling prices of £465,000 to £1.85mil a unit.

 

IJM Land chief executive officer and managing director Datuk Soam Heng Choon said the buyers were mainly from Malaysia and Britain who liked the project’s strategic Zone 1 location and the branding of IJM Land.

 

“We believe this momentum will continue with the project’s upcoming launch in Singapore and Hong Kong,” he added.

 

The Singapore launch will be from 4 to 6 October at Four Seasons Hotel, while the launch in Hong Kong from 18 to 20 October will be held at Mandarin Oriental Hotel.

 

Meanwhile, the current planning permission for phase two of the London project is for a 236-room five-star hotel, 33 hotel serviced apartments, and 79 residential apartments. The second phase has an estimated GDV of £200mil.

 

IJM Land was targeting sales of more than RM2bil for financial year ending March 31, 2014. Its first half year sales ended September 30, 2013, amounted to some RM1.2bil.

 

Soam told StarBiz the property group has lined up another six major projects with gross development value (GDV) of more than RM2bil to be launched in various parts of the country by the year-end. The maiden launch of Pantai Sentral Park in Kuala Lumpur in the later part of the year will comprise of 211 condominiums.

 

The 1,034 sq ft to 1,830 sq ft residences will be priced from RM700,000 for a GDV of RM180mil. Bordering Kota Kemuning, new units to be launched at Bandar Rimbayu next month will comprise 467 linked semi-detached houses with GDV of RM373mil.

 

Coming up in Wangsa Maju will be 284 units of Seri Riana Condominium for RM234mil, The 1,270 sq ft to 1,861 sq ft units will be priced between RM700,000 and RM1.1mil.

 

Meanwhile, The Light in Penang will see the launch next month of 19 bungalows and 79 condominiums under The Light Collection IV series for a sales value of RM520mil.

 

In Johor, the 528 Epic serviced apartments for launch this month will have GDV of RM305mil, while the December launch of Sebana Cove bungalows will be worth some RM250mil.

 

 

 

- The Star Biz

PETALING JAYA: IJM Land Bhd is set to officially launch a trio of property projects worth RM355 million in the heart of Seremban next month.

Properties in the three projects, namely Saujana Duta, Kalista Residence and Seri Binjai, will be offered for sale on October 5, 13 and 23 respectively.

IJM Land general manager for central region, Hoo Kim See, expects an encouraging take-up rate for the projects.

"As land in Kuala Lumpur is getting scarce, urban housebuyers are now shifting their attention to the outskirts, such as Seremban, which is only an hour's drive from the city centre," said Hoo.

Ideally nestled at the peak of S2 Heights, approximately 122 meters above sea level, Saujana Duta Phase 1 comprises 200 units of three-storey semi-detached units (Semi-Ds) and bungalows. It offers owners a spectacular and picturesque view of Seremban 2.

S2 Heights, which is next to Seremban 2, comprises 600ha of freehold land and will offer development opportunities for IJM Land in the next eight to 10 years.

"Another unique selling point of Saujana Duta is that it is adjacent to a 12ha recreational hill park," he said, adding that the projects have secured 50 per cent of sales during the soft launch recently.

He expects another 10 Semi-Ds to be taken up during the launch. The property prices range from RM1.5 million to RM3.3 million for a Semi-D unit and bungalow respectively, with a built-up area of between 4,038 to 7,060 sq ft.

Meanwhile, Kalista Residence Phase 1 is the first gated and guarded high-rise development in Seremban 2 township. It comprises 208 units of modern apartments and comes with condominium facilities.

Kalista units have built-up areas starting from 914sq ft, priced from RM250 per sq ft.

"All units come with one or two covered car parks depending on unit size and floor level."

In the middle-end landed property range, IJM plans to launch RM95 million Seri Binjai Phase 1 on a piece of 23.2ha freehold land at Rahang. It comprises 120 units double- storey link houses with built-up areas ranging from 2,132sq ft to 2,607sq ft, as well as 38 units of double storey Semi-Ds. The Seri Binjai properties are priced from RM200 per sq ft.

These projects will take approximately two to three years to complete.

 

 

- New Straits Times, Business Times, 2013/09/24

KUALA LUMPUR: Property developer Glomac Bhd's net profit rose 14.8 per cent to RM24.1 million in the first quarter of its financial year ended July 31 on the back of strong sales performance in the last financial year.

For the quarter under review, it registered RM162.3 million in revenue while its net assets per share stood at RM1.16.

Glomac said the earnings were derived from the steady construction progress in its key ongoing projects, including township developments, namely Bandar Saujana Utama and Saujana Rawang, as well as Lakeside Residences in Puchong and Glomac Centro in Petaling Jaya.

"The company's unbilled sales as at July 31 remained at a high RM852 million," said Glomac group executive chairman Tan Sri FD Iskandar Mansor in the statement yesterday.

Iskandar said the group is planning to launch RM1.38 billion worth of projects in the current financial year, which will include shop offices at Puchong's Lakeside Residences and Centro V, and the next phase of its apartments and shop offices at Glomac Centro.

It also plans to launch a new township development, namely Saujana KLIA, with a total gross development value of RM1.2 billion.

Moving forward, the company believes its performance this year will improve further, driven by its high unbilled sales


 

- New Straits Times, Business Times, 2013/09/24

馬星集團南區首席營運員蔡高信認為，柔佛州產業市場備受看好，柔佛州更躍升成國際投資舞台，指從宏觀的角度來看，柔佛州的地產業的需求量遠高於供應量。

“我們現在是處於｀供不應求’的階段，依斯干達特區這一帶有許多工廠、主題樂園等，加上柔州的旅遊業蓬勃發展，對房屋的需求是很大的。”

 

他透露，該集團目前在柔州共有4個重點項目，包括位於依斯干達城瑪迪妮區的美麗苑服務式公寓和酒店式公寓、在馬西喜萊苑的服務式公寓、丹絨柏樂巴斯港口（PTP）的工業園、以及在新山百萬鎮的詩尼邦科夫（Senibong Cove）的綜合發展計劃。

他表示，市場對該集團推出的房產反應熱烈，其中登記購買美麗苑服務式公寓的人數就超出了現有單位，最終用抽籤的方式決定。

 

“我們在美麗苑的服務式公寓共有Tower A、B和C3座，A和B座已售罄，C座也已售出超過一半。在3座樓中，B座所能欣賞到的風景是最漂亮的，每一層樓的單位也有限，住戶能有更多隱私權。”

他指，美麗苑的服務式公寓價格從38萬令吉起，非常大眾化，加上地理位置優越，所以非常受到市場歡迎。

 

此外，該集團在依斯干達區瑪迪妮區的美麗苑，有另一項酒店式公寓計劃，在該計劃下共有3棟大樓，其中一棟將是有583個單位的居家辦公（SOHO）房屋，另外兩棟則是個別有322個單位的酒店式公寓。

 

蔡高信說，凡在美麗苑購置產業，從事旅遊、醫療保健、教育、創意工業、金融以及物流行業者，皆可享有一定的稅務豁免。

他披露，購屋者中，本地人佔了半數，新加坡人則佔了20至30%，其餘買主則是來自中國、日本等地。

 

“新加坡的房價太高，新元又對馬幣走高，再加上地理位置的優勢，讓許多新加坡人選擇在新山置產。” 他表示，中國已不再是“投資樂園”，國際市場已將目光轉移至東南亞市場，並指許多人都看好柔州的發展前景。“從宏觀角度來看，我們的｀供’追不上｀求’，許多人看到了｀供’的膨脹而感到不安，但是產業是一項中長期的投資，所以我們不能以短淺的目光看待。”

 

喜萊苑服務公寓
3房1廳30萬令吉起

馬星將在喜萊苑興建服務式公寓，共有1千176個面積約975方尺的單位，每個單位有3房1廳，售價從30萬令吉起。

 

另外，在丹絨柏樂巴斯港口的工業園，目前僅剩面積約7千900方尺的半獨立式廠房，售價從200萬令吉起。

 

此外，馬星近期在詩尼邦科夫購置了一片35英畝的土地，計劃在該區進行一項綜合發展計劃，興建酒店式公寓、居家辦公、服務式公寓和購物商場。

 

 

 

 

- 星洲日报，产业

 

SINCE 2010, one trend stands out in the Kuala Lumpur City Centre (KLCC) area. Condominiums in this district are continuing to set pricing records in Malaysia.

Back in 2010, the Binjai On The Park development caused a stir in the market when one of its two super penthouses was sold for RM38mil, making it among the most expensive homes to have been sold in Malaysia in recent years.

On June 22, 2010, the wealthy buyer bought the triplex penthouse, measuring 14,300 sq ft, on the 42nd floor of Binjai’s Tower B. The price tag of RM38mil meant that the penthouse was sold for almost RM2,660 per sq ft (psf). Since then, the Binjai On The Park has broken that record with the subsequent sale of its other smaller units.

Now, new entrant The Four Seasons Place looks poised to set new record prices. Out of its 242 units, it has recorded close to a 70% take-up rate, with an average price of RM2,950 psf. As at press time, two of its penthouses which were initially reserved at a whopping RM37mil or RM3,026 psf have yet to be sold.

An artist's impression of Four Seasons Place.

These prices are amazing feats. At these price levels, the condos are sold at per sq ft prices that are two to three times higher than other condos of similar sizes in the vicinity.

What sets this condos apart from the rest? In the past five years, buyers have been willing to pay significant premiums namely for two types of condos in the KLCC area.

Firstly, those with prime locations and spectacular views of both the iconic Petronas Twin Towers and the KLCC Park. Secondly, contemporary buildings designed by internationally famed architects have also achieved stratospheric kind of pricing.

This was first achieved by Bandar Raya Developments Bhd’s (BRDB) The Troika, completed in 2010, and set a new record price of RM2,500 psf on the back of world-renowned architect, Lord Norman Foster.

Now there is a third type of condo in the KLCC area that can equally command that sort of lavish premium. These are franchised condos – condos that carry strong international branding and offer five-star hotel services.

A trend is emerging where local developers partner international luxury hospitality and lifestyle brands. Full-fledged hotel services such as concierge and room services are provided for.

New franchised condos that have emerged in the KLCC area include the Four Seasons Place and the Banyan Tree Pavilion Signatures Kuala Lumpur.

In the case of Banyan Tree, 99% of its 441 units were sold at an average price of RM2,000 psf.

Other franchised condos that will be making their debut include the 150-room and 353-unit W Hotel & Residences on a 1.28 acre site in Jalan Ampang at an indicative price of RM2,500 psf and the Harrods Hotel & Residences.

 Despite not even having a full view of the Petronas Twin Towers, real estate agents say that sales of The Four Seasons Place has been strong, especially for its smaller units. Consisting of 65-storeys, this luxury hotel, residential and retail project will house the 231-room Four Seasons Hotel, 242 units of private residences and 300,000 sq ft of upscale retail space.

 The Four Seasons Place in Kuala Lumpur is the first Four Seasons Place in South-East Asia. Many view the Four Seasons as “limited edition” pieces. “Rather than ploughing money into a Lamborghini or a Porsche, why not put that money into a stable asset that will definitely sustain in value and yield capital appreciation in the future. These are the literal words from some of the buyers,” says one real estate agent who helps market The Four Seasons Place.

 “At these super prices, the buyers are not thinking about rental yields. Some don’t even stay. I know of someone who bought the Binjai On The Park who left it empty for a year. He just wants to own a prime property in KL,” says KGV Lambert Smith Hampton (M) Sdn Bhd director Anthony Chua.

 In the meantime, there are key differences between the franchised condo and the usual condos in Kuala Lumpur. The franchised condos comprise of hotel and residential development. It is more costly as the developer pays a franchise fee for the naming rights of the condo, possibly for a fixed period or in some cases, indefinitely.

 “This fee ranges between 4% to 12% of the gross development value, depending on the location and traffic that the hotel is able to garner. The fee is either one-off or for a fixed period, say 20 to 30 years. When the licensing agreement has expired, the franchiser and developer will once again renegotiate the terms based on an agreement first entered into between them,” says a property director who is familiar with franchised condos.

 The developer will have to construct and meet building, rooms and interior design specifications for both the hotel and residential units set by the franchiser. For franchised-type condos, residents cannot simply embark on their renovations plans.

They will first need to get the agreement of the franchisee. “Say, for instance, a resident of The Four Seasons Place wants to have a balcony feature, he would first need The Four Seasons’ permission. This is because there are certain standards that need to be upheld to maintain the branding and aesthetic quality of the building,” he says.

 Once completed, the franchiser will manage the hotel section while the residential condos will be managed by a management committee set up by the residents. For the residential section, the management committee decides how it wants to manage the property. The developer basically does not have responsibility for this. 

The fee and services can vary a great deal. Factors causing a fluctuation are the hotel’s star rating and operation level, and its physical location. Fees are generally costlier than for a primary residence. It is understood that The Four Seasons Place will charge below RM1 psf. Typical high-end condos charge in excess of 50 sen psf. Fees for such services typically include general unit utilities, common area utilities, grounds maintenance, exercise area and others.

This is about 20 to 30 per cent of what DRBHICOM paid for national carmaker Proton Holdings Bhd.

DRB-HICOM, controlled by the Albukhary Foundation, took over and privatised Proton in a deal worth RM3.02 billion early last year.

Proton owns the 100ha complex, which houses its main factory, a smaller multi-vehicle plant, a casting plant as well as an engine
machining and assembly building.

Based on book value, the land and building are worth some RM700 million. Commercial land in Shah Alam is currently selling at more than RM100 per sq ft.

Previn said DRB-HICOM may either develop the land in a joint venture with Proton, or buy it outright from the carmaker.

“The best thing is for Proton to sell the land to DRB-HICOM. It would be a great way for the carmaker to monetise its assets. 

Proton will have cash to expand and compete in the global level,”
he told Business Times.

Mercury Securities head of research Edmund Tham thinks DRB-HICOM may build several residential blocks, office towers and retail space.

He said DRB-HICOM can rake in a profit margin of between 40 and 50 per cent if the project has high-end product offerings.

Sources close to DRB-HICOM said it is planning to relocate the complex in Shah Alam to Proton City in Tanjung Malim, Perak.

"The idea to redevelop the site is to boost DRB-HICOM's property development division and future earnings. The move to Tanjung Malim will also help cut costs and make Proton more efficient in production as it consolidates its business," said a source.

The property development division is headed by Datuk Mohamed Razeek Md Hussain, former chief executive officer of Malaysian Resources Corp Bhd.

The division's current landbank has GDV worth around RM2 billion. 

Razeek was not available for comment yesterday.

Proton City, an integrated project worth more than RM11 billion, started operations in 1996. The 1,600ha project is developed by Proton City Development Corp Sdn Bhd, a 60:40 joint venture between DRB-HICOM and Proton.

Proton City comprises the Proton plant, the 120ha Proton Vendor Industrial Park, Universiti Pendidikan Sultan Idris' main campus, and residential and commercial properties. - The Business Times

大选落幕股价高攀　產业股重回基本面

A SOUND and well-planned rail network inclusive of the upcoming Klang Valley Mass Rapid Transit (KVMRT) Line 2 will form the spinal cord of Kuala Lumpur's public transportation system that will not only improve the liveability of the Greater Kuala Lumpur (KL) dwellers, but more importantly support the sustainability of the city's future development.

Saturday May 18, 2013