iProperty.com Issue 90 August
iProperty.com: Malaysia's No.1 Property & Real Estate Website. Find Malaysian properties and real estate listings for sale and rent. New developments, rentals, auction properties, real estate agencies, home loans, property events, home related services and more
Voted No. 1 Property Magazine 2010/2011/2012 by A+M Magazine First Village of Gold Coast Morib A hidden paradise within the Klang Valley BORNEO: THE SABAH EPISODE What can the East Malaysian state offer? THE NATIONAL HOUSE BUYERS ASSOCIATION ON: How can the HDA be made more effective? MICA(P)121/04/2012 KDN PP 13368/04/2013(032224) ISSN 1823-8726 08 9 771823 872006 Issue 90 | Aug 2012 | RM8.00, S$8.00 8 | CEO’S COVERFOREWORD STORY EDITORIAL EDITOR OOI SUE HWEI WRITER YOGEETHA H. JEEVAN DESIGN SENIOR DESIGNER IRENE LIM HAPPY 55th independence day malaysia! Fifty five years ago on 31 August 1957, Malaysia achieved its independence from the British colonial ruling party. Since then, Malaysia has established herself as the premier destination for visitors from all around the world. DESIGNERs JASON KWONG WING WONG DEVELOPER ADVERTISING HEAD, DEVELOPER BUSINESS LILY KONG MARCO GOH CAMPAIGN SPECIALIST SITI SARAH ABU SAMAD MAGAZINE COORDINATOR NURULHIDAYAH ABD RAHMAN AGENT ADVERTISING The country’s standard of living has also increased in tandem with other developing countries. Together with its myriad of fascinating landscapes, people and culture, as well as a wide selection of food that is easily available 24/7, it is no surprise then that foreigners from near and far have decided to call this beautiful country home. Of course, Malaysia’s property developers have also played an instrumental role in shaping the rapid growth of this country. The Malaysian real estate market is on par with some of the most attractive markets in the region. With its exquisite and state-of-the-art designs and innovation, facilities and security features, these properties have captured the attention of both local and international investors. MANAGER, AGENT SALES LEON KONG MANAGER, AGENT MARKETING ERNEST BERNARD TOWLE AGENT COMMUNICATIONS SPECIALIST ANGELA SARGUNAN MARKETING MANAGER, CONSUMER MARKETING MATTHEW WONG CONSUMER MARKETING SPECIALIST LYDIA CHEW MANAGEMENT In line with that, and to further showcase these prestigious developments to the world, we have developed an app that we fondly call the iShowGallery. Powered by iPropertyHD, the iShowGallery is Malaysia’s first digital property showroom and can be downloaded from the iTunes store for free on your iPad. This innovative product is designed to provide property buyers with an impressive immersive experience while offering developers a new platform to showcase their latest property developments. CHIEF EXECUTIVE OFFICER SHAUN DI GREGORIO Find out more about the iShowGallery in the following pages of this magazine. iProperty.com Malaysia Sdn Bhd (600850-K) 45-6 The Boulevard, Mid Valley City Lingkaran Syed Putra, 59200 Kuala Lumpur, Malaysia. Phone: (603) 2264 6888 | Fax: (603) 2264 6999 Sales enquiries: firstname.lastname@example.org Editorial matters: email@example.com General enquiries: firstname.lastname@example.org Subscription: email@example.com Happy Independence Day to all Malaysians! Sincerely COUNTRY MANAGER – MALAYSIA TIMOTHY HOR GENERAL MANAGER, DEVELOPER EDWARD SUTTON MANAGER, BUSINESS OPERATIONS LOH-LIM SHEN YI iProperty.com Magazine is published monthly by iProperty.com Malaysia Sdn Bhd 45-6 The Boulevard, Mid Valley City, Lingkaran Syed Putra 59200, Kuala Lumpur, Malaysia. Disclaimer Although every reasonable care has been taken to ensure the accuracy of the information contained in this publication, neither the publisher, editor nor their employees and agents can be held liable for any errors, inaccuracies and/or omissions, howsoever. We shall not be responsible for any loss or damage, whether direct or indirect, incidental or consequential arising from or in connection with the contents of this publication and shall not accept any liability in relation thereto. The views by our contributors expressed here are their personal opinions and do not necessarily reflect iProperty.com’s views. Shaun Di Gregorio Chief Executive Officer The iProperty Group Unless otherwise noted, all artwork and ad designs printed in iProperty.com Magazine are the sole property of iProperty.com Malaysia Sdn Bhd, and may not be reproduced or transmitted in any form, in whole or in part, without the prior written consent of the publisher. Printer Percetakan Osacar Sdn Bhd Lot 37659, No. 11, Jalan 4/37A Taman Bukit Maluri Industrial Area Kepong, 52100 Kuala Lumpur, Malaysia. Distributor MPH Distributors Sdn Bhd ISSUE 90 | AUGUST 2012 co 26 nte nts 22 38 26 1Tebrau A New Modern Lifestyle Development 30 Rimba Residence Urban Haven Beside A Forest Reserve 34 Koi Prima Suites Primed For Success 38 Primer Garden Townvillas Contemporary Villas with Tropical Flair 42 Gravitas Biz Park Industrial Drive with a Difference IN EVERY ISSUE 8 CEO’S NOTE Talk Point 14 IN THE NEWS 44 Stella Service Apartment 128 LAUNCH PAD PJCC’s New Landmark 48 Seri Pajam Development COVER STORY Quality Homes at Affordable Prices 22 First Village of Gold Coast Morib 52 Bandar Utama Development Hidden Paradise within the Klang Valley Focusing on the Needs of the Family CONTENTS Featured Property 92 SPECIAL FOCUS 57 Crossing Over to Borneo The Sabah Episode 60 The Blu Summer Suites Sabah’s Jewel by the Sea 64 The Peak Collection Kota Kinabalu’s Beverly Hills AREA FOCUS 82 JOHOR A Tourism Goldmine 84 PENANG Where is Development in the State Headed? CONTRIBUTORS 86 The National House Buyers Association How can the HDA be Made More Effective? 90 JOEY YAP Embracing Water with Feng Shui 114 CHAN AI CHENG Playing A Fair Game 116 Taxation by PWC Accelerating Sabah’s Economic Growth 84 92 SignatureKitchen 94 HOME SERVICES PANEL AD 96 HOME SERVICES DIRECTORY LISTINGS 98 TOWNSHIP DIRECTORY 100 LATEST DEVELOPMENTS 126 Featured Agencies’ Listings & Directory 127 SUBSCRIPTION 64 57 14 | NEWS | GOVERNANCE & FINANCE PPR houses to be completed and handed over earlier than predicted PKNS offers 7% discount for its property buyers GUA MUSANG - Construction of Public Housing Project (PPR) costing RM180 million promised at the Galas state by-election in November 2010 is expected to be completed earlier than scheduled. Kelantan Federal Development Department director Datuk Makhtar Mustapha said, "About 52% work on the 1,000 units of affordable housing have been completed." SHAH ALAM - The Selangor State Assembly sitting has passed a motion to allow property developer Selangor Economic Development Corporation (PKNS) to offer a 7% discount to all races keen to buy homes developed by the corporation. The federal government via the Rural and Regional Development Ministry also spent RM15 million to upgrade water facilities to settlers of Kesedar land development scheme. Makhtar said the facilities installed were part of the government agenda to solve the people's problem and provide a balance between people in urban and rural areas. Speaker Datuk Teng Chang Kim announced that the motion, which was submitted by M. Manoharan (DAP-Kota Alam Shah) and supported by Lau Weng San (DAP-Kampung Tunku), received majority support from the assembly members. The motion proposed that the state government direct PKNS to give a 7% discount immediately for all categories of houses to all races born in Selangor. PKA and Lagenda Erajuta team up to build new Klang landmark KLANG - Port Klang Authority (PKA) and Lagenda Erajuta Sdn Bhd formed a joint venture to give Klang a new landmark by developing a RM500 million 1Gateway project in the royal town. Chairman Datuk Dr Teh Kim Poo said the project will be on a piece of 6.47ha of land in Taman Datuk Abdul Hamid along Persiaran Raja Muda Musa. It is expected that the project will be completed within five years. He stated that the commercial project will consist of two internationally branded hotels, office towers, Cineplex and shopping mall. "Once completed, it will be a landmark in Klang," he said, adding that the site preparation work has already commenced. Meanwhile, Lagenda Erajuta executive director, Datuk Lim Thiam Huat said in a press statement that the 1Gateway project will be a stylish top class commercial centre with high capital appreciation and rental yield. He said the area along Persiaran Raja Muda Musa has great potential to become the most lively business and social lifestyle enclave in Klang. He added that, "We are excited for this new impressive development that is prominently located. We are certain that it will bring about a new era of prosperity into the area, thus rejuvenating an area long neglected despite its real estate value potential." iProperty.com malaysia | 15 Pavilion extension to boost REIT income by RM50 million KUALA LUMPUR - The Pavilion Kuala Lumpur extension will boost Pavilion Real Estate Investment Trust's (Pavilion REIT) net property income by RM50 million, assuming a higher average rental. cash flow-value by 21%, assuming the injection of the extension would commence in the second half of 2016 and a 7% weighted average cost of capital." HwangDBS Vickers Research Sdn Bhd has assumed the average rental to be RM20 per square feet, a 15% premium to the current RM17.40 per square feet, which would still be 20% lower than Suria KLCC's RM25 per square feet. The research firm has valued the extension at RM768 million based on a 6.5% acquisition yield hurdle, which could be easily absorbed by the REIT's low gearing. It stated in a statement that: "Riding on the strong demand for bigger retail lots, we assume 100% occupancy for the extension and a conservative 5% growth in rental for the 2012-2013 financial years and a 10% growth in 2014. The extension alone is expected to boost the REIT's discounted CIMB-TCA makes fourth Aussie property acquisition KUALA LUMPUR - CIMB TrustCapital Advisors (CIMB-TCA), as manager of the CIMB TrustCapital Australian Office Fund No. 1 (CIMB-TCA AOF1), has announced the acquisition of 150 Charlotte Street, Brisbane, from the Stockland Trust for A$56 million (RM180 million). CIMB-TCA is a joint venture between CIMB Real Estate Sdn Bhd and Singapore-based TrustCapital Advisors Pte Ltd. 150 Charlotte Street is a well- located building in Brisbane's central business district and has just been fully refurbished to a PCA A-Grade standard. It consists of 18 storeys of office space, and with the upgrades, it is now a highly energy-efficient building that targets a 4.5-star National Australian Built Environment Rating System (NABERS) and a 5-star Green Star as-built rating. Under a Development and Lease Procurement Agreement, the Walker Corporation will give five years of rent support for the property, which will provide CIMB-TCA AOF1 a guaranteed initial yield of 8.7% on a fully-leased basis in the first year. The guarantee also provides for annual increments of 4% per annum for the next five years. Several floors of the property are already leased to Energex, the Australian Department of Foreign Affairs and Trade and the Walker Corporation. This is CIMB-TCA AOF1's fourth acquisition since it entered the Australian market early last year. The other assets are 469 LaTrobe Street and 850 Collins Street in Melbourne and 50 Marcus Clarke Street in Canberra. CIMB-TCA has invested approximately A$530 million over the last 18 months in Australian properties and is now one of the most prolific and respected foreign investment managers in the Australian office real estate sector. 16 | NEWS | Property Market Updates Chee Heung, was also held in appreciation of those who contributed to its success. Datuk Lim Hock San, the company’s managing director, said, “LBS has grown steadily over the years from a small construction company into a reputable property developer. Based on our corporate values of being people-focused, action oriented and bringing inspiration to the lives we touch, I feel confident that we can overcome new challenges in the future.” LBS Bina celebrates 10 years of listing KUALA LUMPUR - Award-winning property developer, LBS Bina Group Berhad (LBS), recently celebrated its 10th anniversary of being listed on Bursa Malaysia. The event, graced by Minister of Housing and Local Government, Dato’ Seri Chor The company’s management, employees, business partners, members of the media and other stakeholders, arrived decked out in vibrantlycoloured outfits and accessories in line with the night’s theme, ‘Colours of Celebration’. The night marked a double celebration for Lim as he was recently awarded The Entrepreneur of The Year 2012 award at the Asia Pacific Entrepreneurship Awards held in Kuala Lumpur. 1Tebrau set to give Johor Bahru a facelift JOHOR BHARU - 1Tebrau, a Distinctive Group development, is set to give Jalan Tebrau here a facelift with its launch recently. An integrated development featuring 36 shop offices and 588 designer suites, 1Tebrau has a GDV of RM330 million. This is the maiden foray into Johor for the Distinctive Group under Executive Chairman Dato David Koh. He said, “Drawing from our experience in developing high-end residences and townships within Klang Valley, we are excited to introduce some of our unique product concepts and offerings to the Southern region, which will be the Group’s focus in the immediate and medium term.” Koh pointed out that the development has garnered immense response from local and foreign investors, especially from Japan. He added that 100% of Type A designer Suites and 80% of the dual-frontage shop offices in Block A are sold out. At the media launch, property consultant V. Sivadas, Executive Director of PA International Property Consultants Sdn Bhd, concurred that 1Tebrau would breathe fresh life into the matured neighbourhood. He said, “As the first modern, lifestyle mixed development along Jalan Tebrau thus far, 1Tebrau is definitely in line with the Government’s initiative to transform and rejuvenate Johor Bahru city under its Tenth Malaysia Plan.” iProperty.com malaysia | 17 iProperty.com Malaysia launches breakthrough iPad app KUALA LUMPUR - iProperty.com Malaysia has launched Malaysia’s first digital property showroom, iShowGallery. Shaun Di Gregorio, iProperty Group CEO, said, “The introduction of the iShowGallery is in line with the company’s objective to continuously innovate and deliver better mobile products for customers and consumers across the region." He concluded by saying that iShowGallery, which will be updated on a monthly basis, will feature the region’s hottest properties that is available for sale and can be downloaded from the iTunes Store for free. He added that the iShowGallery app will provide property buyers an immersive experience while offering developers a new platform to showcase their latest property developments. iShowGallery is an innovation available for the iPad, and is downloadable from the iTunes store for free. Also added into the app is a registration form at the end of each property showcase to enable users to register their interest in the property. It will allow property developers to harness the power of multimedia devices and effectively paint a visually-rich and appealing experience of the property development for sale to both local and international buyers simultaneously, while reducing the cost of renovation and marketing expenses on a show unit. Di Gregorio explained, “The highlight of iShowGallery is its property walkthrough experience which enables potential investors to view the latest developments by developers in high definition, panoramic 360° views and actionable 3D floor plans of the property. We are changing the way properties are showcased and with iShowGallery, users will now be able to truly experience the sensations of walking into a property showroom without the need to physically be there.” iProperty.com Everywhere www.facebook.com/ipropertymalaysia www.iproperty.com.my/ipadapp www.twitter.com/iproperty_com www.iproperty.com.my/androidapp blog.iproperty.com.my http://bit.ly/iPropertyEmailAlert www.iproperty.com.my/iphoneapp www.iproperty.com.my/tools Fancy a property in the Listings? Go to www.iProperty.com.my and enter the UP No or NC No (eg. UP123456) on the Quick Search box located on the extreme left column of our website. GET THE BESTTE REAL ESTA DEALS IN TOWN RE T N E C N O I T I B I H X E Y E L L 8pm m a 1 1 MID VA | 2 1 0 2 G U A 24-26 Visitor & Buyer LUCKY DRAW 22 | COVER STORY First Village of Gold Coast Morib Hidden paradise within the Klang Valley K lang Valley properties are always considered the perfect investment, mainly because Klang Valley is the existing urban strip in Malaysia, with an abundance of resources, retail and commercial developments and mature townships with the best amenities. Adding a beach to this equation would make it a paradise for investors, buyers and tourists alike, and the First Village of Gold Coast Morib offers exactly that. Exotic beachside bungalows in tranquil Gold Coast Morib Situated in Pantai Morib, near Banting in Klang, Gold Coast Morib is Shangri-la in the middle of the city â€“ a pristine seaside destination about an hour from the heart of Kuala Lumpur. With a GDV of RM200mil, the First Village of Gold Coast Morib is a cluster of 158 bungalows, created in 3 themes and 28 designs, which spans 50 acres of precious coastal land which can be easily accessed by road or by sea. The First Village bungalows are built according to 3 concepts â€“ quality timber villas, Balinese-style cottages and English cottages, giving investors varied choices of exquisite homes to choose from. The 28 timber villas are built from scratch with only the best timber in this part of the world, ranging from Asian ironwood to Nyatoh wood and Chengal wood, all of which are popular for their resistance to termites and water damage. iProperty.com malaysia | 23 01 Ironwood and Chengal wood are highly traded commodities in Malaysia, so much so that the prices of these much soughtafter lumbers increase by 20 to 50 percent each year. Their inherent beauty, such as found in Nyatoh, lies in the elegant natural grains of the wood, and come with a naturally refreshing scent as well. As these timbers need not be treated for they are suited to Malaysiaâ€™s tropical climate, they are used extensively for all the homes in the First Village, from door frames to windows, and even walls and ceilings. The homes come with a minimum of 1 room and 2 bathrooms, and a maximum of 6 rooms and 3 bathrooms with sizes approximated at 4,000 sq ft to 7,000 sq ft. These low-density freehold gems are a perfect combination of ethnic charm and modern convenience, pairing up nicely with the mangrove beachfront Morib is famous for. Ranging from RM800,000 to 01 Timber Villas show unit available for sale 24 | COVER STORY 02 RM 3mil, the homes are a competitively-priced yet genius investment with sure-fire capital appreciation benefits. Facilities to rival the best in the market 03 As with any quality and esteemed development these days, security at First Village is immaculate, rivalling the best hotels in the region. Expect gated and guarded concept security features, replete with remote CCTV surveillance cameras around the entrances, and 24-hour patrolling around the perimeters of the development. As the First Village is the first phase of the Gold Coast Morib development, the second phase will see the development of various amenities and facilities to complement the exotic bungalows, which include a yacht-club by the seaside, medical centres, international educational academies and institutes, theme parks, cafes and eateries, and spa and wellness centres for the convenience and enjoyment of the residents of First Village. A location of absolute quality and convenience 02 Balinese-style cottage 03 The First Village's environmetally conscious tailored architecture, to reduce wastage in construction and beautification 04 English cottage 05 Model house and interior structure The First Villageâ€™s biggest asset is its location in Gold Coast Morib. An already famous relaxation and holiday spot for locals, Gold Coast Morib was birthed to rival the best beachside resorts in the world. A beautiful and raw natural mangrove beachfront facing the majestic Malacca Straits, Morib is a sight to behold, and Gold Coast Morib is set to change the landscape of Malaysiaâ€™s eco-tourism avenues vastly. As Gold Coast Morib aims to become a self-sustaining tourism and residential spot, all amenities would be available for those who visit the resort. iProperty.com malaysia | 25 Having said that, Gold Coast Morib neighbours the Klang town of Banting, which houses multiple amenities like hotels, mega shopping centres like Aeon Bukit Tinggi, and a variety of cafes and restaurants to fill empty tummies. There is even the popular medical centre, Tengku Ampuan Rahimah Hospital, just down the road from Bukit Tinggi, and Klangâ€™s Little India about 15 minutes away. A drive out to experience the vibrancy and vivacity of Klang could be one of the highlights of your trip to Gold Coast Morib. This amazing investment opportunity is targeted to individuals and corporations who want to stamp their name and brand within the lucrative Cold Coast Resort development. First Village of Gold Coast Morib will be launched by September 2012, and is expected to be completed by 2015. Buyers can choose a special package of 6% GRR leaseback tenancy agreement for up to 15 years with the resort itself, or split rental profits 40/60 with the resort. Buyers also get complimentary vacation club memberships as part of this special deal. (*additional 6% bonus subject to village occupancy rate) Curious about the First Village and its esteemed developer? For further information about the property or the developer -STG Group of Companies, visit www.gcr.com.my or you may call (6010) 948 9965, (6016) 207 0983, (6017) 276 7888 or (6012) 2018 138. 04 Location Map 05 iProject Listing QuickPro No: NC2573 Project Name: First Village of Gold Coast Morib Resort City: Morib, Banting, Selangor Property Type: Bungalow House Land Title: Residential Tenure: Freehold Listing Price: From RM800,000 - RM3,000,000 Price per sq ft: RM88 - RM100 Total Units/Lots: 158 Expected Date of Completion: 2015 Developer: STG Group of Company 113A, Bangunan STG Persiaran Pegaga, Bayu Perdana Klang 41200 Selangor. Phone: (603) 3323 2188 / (6017) 276 7888 Fax: (603) 3323 3188 Visit iProperty.com.my for more details 26 | FEATURED PROPERTY | 1TEBRAU 1Tebrau to facelift Jalan Tebrau, A new modern lifestyle development Every new idea begins with one thought; every new journey begins with the first step. As Johor’s first venture into integrated development, 1Tebrau is set to create the best structure and design for a modern mixed development project, and is en route towards truly revolutionising property development in the state with its promise of delivering ‘one for all, all in one’. 1Tebrau encompasses 4.2 acres of prime land, consisting both commercial and residential developments. The retail and commercial spaces, comprising of 36 units of shop offices with lifts, act as a platform for the residential segment. businesses and established entrepreneurs. The shop offices will feature fashion, furnishings, health products, F&B, entertainment and much more, thus creating a world of new possibilities for the residents of 1Tebrau and beyond. The layouts are flexible and made to suit all types of businesses, starting from 27’ X 66’ for businesses and boutiques, to 37’ X 76’ for cafes, growing The residential segment, called Residences @ 1Tebrau, is a plush serviced apartment consisting of 420 studio units that are perfect for singles and couples, and 168 01 iProperty.com malaysia | 27 02 three-bedroom family suites. Available in 3 layouts, the designer suites of the Residences are spread across two towers. Type A units are 3-bedroom measuring about 1,050 sq ft. Type B, measures at 621 sq ft with 1 bedroom and 1 bathroom. Type C units are also 3-bedroom units, measuring at 1,000 sq ft. All the units at Residences are crafted, and feature a variety of fittings such as built-in wardrobes for all the bedrooms; water heaters in all the bathrooms; kitchen cabinets complete with hood and hob; air conditioning units in all the bedrooms, living room and dining room; and a panic button and intercom system that is linked to the guardhouse for maximum safety, comfort and peace of mind. The one to pamper you with its facilities 1Tebrau truly believes in being a one-stop sanctuary for its residents and tenants, and this is reflected in the myriad of facilities and amenities available. It places much attention on safety and security, evident from its CCTV surveillance services and guards. Residents of Residences @ 1Tebrau are also provided with electronic card access to the lobby and lifts, and all residents are offered designated parking bays. 01 1Tebrau is ideally located 02 The vibrant commercial segment There is also a special reading room for those who would like a quiet cozy corner to read; a multipurpose hall for events and functions; convenience stores for everyday groceries; a laundry; a cafeteria for the employees and residents of 1Tebrau; a nursery for busy parents who can drop off their children with a peace of mind; a games room for indoor games such as pool, carom, ping pong and more; plus a scenic landscaped garden to soothe the eyes and free the mind from everyday stress. 28 | FEATURED PROPERTY | 1TEBRAU 03 03 Gym overlooking the infinity pool 04 The infinity pool overlooks the Johor Bahru city skyline 05 There are 3 layouts to choose from 06 Spacious bedrooms 07 Photograph taken from show unit 1Tebrau is also big on wellness and health. Its best feature is the infinity pool that overlooks the Johor Bahru city skyline, so you can soak in the cool waters with the lights of Johor illuminating your senses. There is also a children’s pool so the young ones do not miss out on the excitement, which includes wholesome family time at the pool deck and BBQ area. There is the quintessential gymnasium for the fitness buffs who love a daily workout, overlooking the pool. Tenants and users of the commercial section of 1Tebrau are able to enjoy an invigorating and exciting work environment with benefits such as ample parking spaces, so there is no need to rush to work just to 04 find an available parking spot. The former will also have easy access to banks, restaurants and other services. Be enthralled with the state-of-the-art Internet technology which enables you to stay connected. The retail and commercial spaces are also CCTV-monitored and guarded. The one with great connectivity and easy accessibility 1Tebrau is truly revolutionary in terms of its design and concept, being the first integrated development in Johor Bahru. The latter connects Singapore to the rest of Peninsular Malaysia, thus 1Tebrau is set to benefit from both local and Singaporean visitors. Its strategic location is the key to its success as it fronts Jalan Tebrau, while its neighbour is South Key, Johor’s largest commercial development. 1Tebrau offers unparallel accessibility as its can be accessed via the Eastern Dispersal Link and the North-South Expressway. It is only a stone’s throw away from the CIQ/Immigration offices, and a short drive from Plaza Pelangi, KSL Mall and Grand Paragon Hotel in Johor. With a catchment of 1.5 million people in Johor Bahru alone, and taking into account the 10 million users of the causeway each year, 1Tebrau is set to be one of Iskandar Malaysia’s premier landmarks, and will be an excellent investment for future generations. 1Tebrau is a modern lifestyle development, and prices for the residential units start from RM315,000, while shop offices are priced from RM1.9 million. 1Tebrau was launched in June 2012, and is expected to be ready by 2015. Purchasers of the residences enjoy an early bird discount, RM3000 downpayment, zero interest during the construction period, waived SPA fees and free one-year maintenance. Interested? Find out more at www.1tebrau.com.my or call (607) 3321 388. iProperty.com malaysia | 29 05 06 Location Map 07 iProject Listing QuickPro No: NC2571 Project Name: Residences @ 1 Tebrau City: Johor Bahru, Johor Property Type: Serviced Residence Land Title: Commercial Land Area: 4.2 acres Build Up: 610 - 1,050 sq ft Listing Price: From RM315,000 Total Units/Lots: 588 Expected Date of Completion: 2015 Developer: Distinctive Properties Sdn Bhd (901700-X) Suite 1, Menara Pelangi, 2, Jalan Kuning Taman Pelangi Johor Bahru 80400 Johor. Phone: (607) 332 1388 / (6017) 772 0388 / (6017) 792 0388 Fax: (607) 331 9388 Website: www.1tebrau.com.my Visit iProperty.com.my for more details 30 | FEATURED PROPERTY | Rimba Residence 01 Your Urban Haven Beside A Forest Reserve Living In Natureâ€™s Splendour With the call to live next door to 3,084 acres of natureâ€™s beauty, Rimba Residence is a serene enclave of boutique resort residences set against the majestic Ayer Hitam Forest Reserve. Imagine your dream home resting amidst the fresh breezes of nature as you join a harmonious community in a contemporary setting. This is truly living, an carefree experience of exquisite living space seamlessly woven with luxury and style. Excellent Location - Naturally Located in Bandar Kinrara, the advantages of living in a matured township complete with amenities and easy access to a variety of highways namely, the Bukit Jalil Highway, KESAS Highway, LDP Expressway, KL-Seremban Highway and Jalan Puchong. 01 Observation deck - vantage point to take in the beautiful views 02 Glass walled gym overlooking infinity pool 03 Poolside cafe for entertaining friends There are plans to increase this already stellar connection with two proposed highways, the Kinrara-Damansara Expressway (KIDEX) that will connect Bandar Kinrara to the Federal and SPRINT Highways and the Serdang-Kinrara-Putrajaya Expressway (SKIP) which will connect Kinrara to Serdang and Putrajaya. iProperty.com malaysia | 31 02 Rimba Residence is also connected to the public transportation network with two existing LRT stations in Bukit Jalil and an upcoming LRT station in Bandar Kinrara, opposite Giant Bandar Kinrara, to serve the community. Freedom to Live This lavish low density condominium stands on 3.6 acres of freehold land (66 units per acre), with an innovative Semi-D layout that sites 8 units per floor and only 4 units per quadrant. This means that every one of the 238 units is a corner unit, now that truly brings to life the sense of freedom to live. 03 With five designs to choose from and 3 types of penthouse layouts, residents may choose to live in units that start at 1,145 sq ft to 1,597 sq ft. This unique concept is suitable for discerning buyers looking for an upgrade from their current premises or even those who place a premium on a better living environment. Potential buyers will be happy to know that all units come furnished with vanity tops, cabinets, instant water heater and shower screen to both master bathroom and bathroom 1, walk-in wardrobe and dresser in the master bedroom, kitchen cabinets 32 | FEATURED PROPERTY | Rimba Residence in both wet and dry kitchens with cooker hood and hob, washing machine and dryer, shoe cabinet, airconditioner to master bedroom, bedroom 1 & 2, living / dining area, designer grille at the main entrance, 8 feet high doors (except bathrooms) and eco-friendly paint. This feeling of freedom is encapsulated in the guarded enclave of a 6-tier security system replete with full resort facilities. Within the ambit of this residence are a whole host of amenities and facilities. Top-Notch Facilities Nearby Klang Valley’s top shopping malls such as Sunway Pyramid, Subang Parade, Empire Shopping Gallery, Summit USJ and IOI Mall are all just a short 10 minute drive away while daily needs are met with hypermarkets and supermarkets such as Carrefour, Mydin, Giant, Tesco and Jaya Jusco all within close proximity. Renowned tertiary educational institutions nearby include Sunway College, Metropolitan College, IntiSubang, SEGi College and Taylor’s Lakeside Campus to mould the minds of the next generation of leaders. Meanwhile top-notch healthcare is also available at Columbia Asia Hospital, Sunway Medical Centre and Sime Darby Medical Centre while rejuvenating rounds of golf at Bukit Jalil Golf Club and Kinrara Golf Club all speak of the prestige of Rimba Residence’s surrounds. 04 Attractive Promotions by a Responsible Developer Targeted for a May 2012 preview, Rimba Residence will be completed by 2015 and is currently open for registration. Potential residents will be delighted to know that a host of attractive promotions such as a 06 05 iProperty.com malaysia | 33 07 04 05 06 07 Visitorâ€™s lounge A grand entrance with guardhouse greets your arrival Majestic view right from your balcony Majestic residential icon set against the pristine Ayer Hitam Forest Reserve 08 Selected units come with a lanai at the master bedroom 09 Living room with a touch of modern influence 08 3% booking fee*, and early bird discount of 5% for the first 50 buyers*, 90% end-financing margin and free legal fees on the Sales & Purchase Agreement (SPA) along with a 7% bumiputera discount in effect. Rimba Residence, brought to you by Knox Group, has a good track record of presenting the most delightful high-quality residences including the recently launched Kiara Residence 1 and Kiara Residence 2 in Bukit Jalil. Future residents may find out more by calling (6012) 627 5211 and (6016) 219 4488 or log on to www.rimbaresidence.com.my Location Map 09 iProject Listing QuickPro No: NC2409 Project Name: Rimba Residence City: Bandar Kinrara, Selangor Property Type: Condominium Land Title: Residential Tenure: Freehold Bumi Discount: 7% Expected Date of Completion: 2015 Developer: Knox Sierra Sdn Bhd (975427-K) No. 38B, Jalan USJ 10/1B 47620 UEP Subang Jaya, Selangor. Exclusive Marketing Agent: WCT REALTORS E(3)0468 3-13 The Scott Garden (Kompleks Rimbun Scott) 289, Jalan Klang Lama, 58100 Kuala Lumpur. Phone: (603) 5882 4488 Fax: (603) 7982 1490 Website: www.rimbaresidence.com.my Visit iProperty.com.my for more details 34 | FEATURED PROPERTY | Koi Prima Suites Koi Prima Primed for Success iProperty.com malaysia | 35 01 View of Koi Prima from Prima Park 02 Pool deck 03 Thematic hanging garden Koi Prima, the latest development in the busy Puchong township, has a lot going for it. For starters, it is excellent location puts it close to a whole myriad of amenities, highways and public transportation. For starters, the serviced condominium is approximately 1km to the proposed Star LRT station 11 and 12. The serviced condominium is also highly connected as it is located near several highways, namely, the KLSeremban Highway, Lebuhraya Bukit Jalil, Jalan Puchong, Lebuhraya Damansara-Puchong (LDP) and Maju Expressway (MEX Highway). Puchong is one of the fastest growing areas in Selangor and located within Puchong is another development that is worth a look based on its location alone â€“ Koi Prima by Pagoda Canggih Sdn Bhd. The leasehold Koi Prima will be built on 7.9 acres of land, with a gross development value of RM450 million. Managing your daily lifestyle needs will also be a breeze as it is just 5 minutes from hypermarkets Carrefour and Tesco. There is a whole list of schools and learning institutions, including SRJK (C) Han Ming, SRJK (C) Sin Ming, Binary University College, RIMA College, Lim Kok Wing University College and the KFCH International College that are within a stoneâ€™s throw of the development. This makes it a prime choice for both investors and families with children. In addition, Columbia Asia Hospital and KPMC Hospital are just a short driving distance away. 02 01 03 36 | FEATURED PROPERTY | Koi Prima Suites Keeping well and staying happy is easy at Koi Prima Wellness and health concerns play a vital role within the Koi Prima project. A 1.5-acre piece of land adjacent to the development will be transformed into Prima Park, where there will be 2 tennis courts, a futsal court, an outdoor gym, a children's playground and jogging track for those who love an active lifestyle. The green surroundings and scenery are the order of the day via a thematic hanging garden, and 45% of the podium’s area will be reserved to feature a gorgeous greenscape. To encourage a healthy lifestyle and promote greater comfort within its grounds, Koi Prima will feature a plethora of family- and health-focused facilities, such as: • • • • • • • • • • Clubhouse Swimming pool and wading pool Outdoor whirlpool Snooker/Games room Karaoke lounge Children's playground BBQ pit Event/Multipurpose hall Cafe Launderette • Nursery/Kindergarten • Themed gardens • Koi pond Special offer in conjunction with show unit launch 02 With a choice of 2 designs, the suites at Koi Prima have a built-up area of either 1,055 sqft or 1,098 sqft. This serviced condominium’s pre-launch price will range from RM370,500 to RM439,500, and is expected to be completed in 2015. Koi Prima’s show unit will be opened to the public from 1 August 2012. Concomitant with the show unit’s launch, purchasers will enjoy a number of benefits such as a deposit payment of only RM3000, a 6-month instalment scheme, free kitchen cabinets and 2 units of air-conditioners, as well as free legal fees for the SPA. There will also be a 7% discount for Bumiputras. Pagoda Canggih Sdn Bhd is a subsidiary of the Masteron Group of Companies. Established in 1981 as a construction company, the company’s first high rise development was the 18-storey Menara Choy Fook On in Petaling Jaya, Selangor, in 1994. Today, the Masteron Group of Companies is the leading developer of high-rise condominiums in the Puchong area, with a proven track record in this market segment. iProperty.com malaysia | 37 04 Koi Prima your dream home, do not hesitate to call (603) 8060 2228 or visit the Koi Prima Sales Gallery at No.2G & 3G, Pusat Komersial Koi, Jalan Puchong Batu 13 1/2 , 47100 Puchong, Selangor (opposite DHL). Location Map 04 Landscaped courtyard on podium level iProject Listing QuickPro No: NC2284 Project Name: Koi Prima - Phase 1 City: Puchong, Selangor Property Type: Condominium Tenure: Leasehold Build Up: 1,055 - 1,098 sq ft Listing Price: From RM370,500 to RM439,500 Total Units/Lots: 550 Bumi Discount: 7% Expected Date of Completion: 2015 Developer: Pagoda Canggih Sdn Bhd (371936-H) No. 2G & 3G, Pusat Komersial Koi, Jalan Puchong Batu 13 1/2, Puchong 47100 Selangor. Phone: (603) 8060 2228 Fax: (603) 5623 3311 Website: www.koiprima.com Visit iProperty.com.my for more details 38 | FEATURED PROPERTY | Primer Garden Townvillas Contemporary Primer Garden Townvillas with Tropical Flair 01 Cahaya SPK’s 500-acre township in Shah Alam will soon debut Primer Garden Townvillas - a gated and guarded enclave of contemporary designed homes that embody a modern tropical living concept. The RM180 million value strata development will contain 244 units of chicly designed townvillas, with a density of 14 units per acre, set amidst 17.76 acres of beautifully landscaped surroundings. Primer Garden Townvillas is ideal for young professionals, families and also discerning investors who are on the lookout for a property that comes with exceptional value. Families who are looking for a healthy and conducive living environment for the little ones will delight in the verdant surroundings that buffer the sanctuary. The innovative and flexible layout of the homes is suitable for two generations from the same family to stay close to each other without compromising on privacy. Each unit will have 3+1 bedrooms and 4 bathrooms, with built-ups ranging from 2,343 sq ft to 2,863 sq ft. Each home comes with two designated car park bays, while the visitor’s parking lots are available within the development’s compound. iProperty.com malaysia | 39 01 The Aromatic Garden 02 ID perspective –Master bedroom for upper unit 03 ID Perspective – Master bedroom for lower unit A Safer Haven This gated and guarded precinct has an excellent security system, which includes perimeter fencing, 24-hour patrolling and CCTV monitoring at the main entrance and selected points. Entrance to the residence is regulated with card access readers that are put in place next to the barrier gate at the main entrance. All units are linked to the guardhouse via the integrated security alarm system’s central monitoring system (CMS). Residents are also able to communicate with the security personnel at the guardhouse via the intercom system, while the linked emergency panic button creates assurance that help is always close at hand. Refreshingly Pleasant, Sustainably Green 02 Primer Garden Townvillas boasts three thematic gardens for the residents’ enjoyment. There is the Senses Garden, Blooming Garden and Aromatic Garden – the ideal place for that breezy morning walk or picturesque evening stroll. These gardens are the perfect spot for family gatherings and activities, or for one to distress after a hard day’s work. The development also played its part towards creating a healthier environment and sustainable living by incorporating green building features in the common areas, such as a rainwater harvesting system for general landscaping. The building is also painted with low VOC paint, which reduces airborne hazards that could be harmful to health. 03 40 | FEATURED PROPERTY | Primer Garden Townvillas Resort-like Township for an Enriching Lifestyle Primer Garden Townvillas is part of Cahaya SPKâ€™s low-density, resort-style mixed development. A total of 78 acres in this township is dedicated to natural parkland, water canals and recreational facilities. Here, your family can be close to nature in a safe environment with lots of green and open spaces, including nature trails and reflexology paths. The 38,000 sq ft full-fledged Cahaya SPK Resort Club will feature facilities that include an Olympic-length swimming pool, badminton, squash and tennis courts, BBQ areas, playgrounds, gymnasium, multi-purpose halls, a surau and others. Convenience at Your Fingertips & best for investment With the introduction of the Damansara Shah Alam Expressway (DASH), the travelling time to Kuala Lumpur is shortened. For instance, it takes only 17 minutes to get to Mont Kiara. In fact, Primer Garden Townvillas has easy access to major destinations via the New Klang Valley Expressway (NKVE), Federal Highway and the Guthrie Corridor Expressway (GCE). 04 05 There are also numerous education institutions within close proximity, including an international school, Universiti Teknologi Mara (UiTM) and the Management iProperty.com malaysia | 41 06 04 The Senses Garden 05 The Blooming Garden 06 ID perspective for living and dining Science University (MSU). Shopping is easy and convenient with hypermarkets such as Giant, Tesco Extra and Tesco merely a short drive away. Golfers can also enjoy an early morning tee offs at the neighbouring golf courses. In summary, Primer Garden Townvillas’ strategic location and numerous amenities have all come together to make it one of the best investment properties in Shah Alam. Reputable Developer Cahaya SPK is developed by SPK Homes, the property division of Syarikat Permodalan Kebangsaan Bhd (SPK), which is primarily involved in the business of construction, property, technology, as well as oil and gas. SPK has more than 15 years of experience in property development, with projects including Sunway SPK Damansara, Bandar Manjalara and Ambangan Heights in Sg Petani, Kedah. Set to be launched in August 2012, the Primer Garden Townvillas will be priced between RM700,000 to RM1.5 million. Register now so that you will be entitled for an additional RM10,000 rebate. For more info, please check out www.spkhomes.spkb.net or call (603) 7847 2288/5949 or (6019) 222 8205. You can also visit the Cahaya SPK Property Gallery at Cahaya SPK Resort Club, No. 1, Jalan Hijau Serindit U9/68, Cahaya SPK, Section U9, 40150 Shah Alam, Selangor. (GPS coordinate N 03° 08.4/8’ l E 101° 30.140’) Location Map iProject Listing QuickPro No: NC2236 Project Name: Primer Garden Townvillas Location: Cahaya SPK, Shah Alam, Selangor Property Type: Townhouse Land Title: Residential Tenure: Leasehold Listing Price: From RM700,000 - RM1,500,000 Total Units/Lots: 244 Bumi Discount: 7% Expected Date of Completion: Aug 2015 Developer: SJ Properties Sdn Bhd No. 1, Jalan Hijau Serindit U9/9 Cahaya SPK, Seksyen U9 Shah Alam 40150 Selangor. Phone: (603) 7846 4407 Fax: (603) 7846 4905 Website: http://spkhomes.spkb.net/ Visit iProperty.com.my for more details 42 | FEATURED PROPERTY | Gravitas Biz Park Industrial Drive with a Difference 01 The word ‘warehouse’ usually brings to mind dusty and rusty mills and plants with smoke billowing out of industrialsized chimneys. This could not be further from the truth, as warehouses have moved forward with the times to become flexible spaces with appealing aesthetics, suitable for both manufacturing and marketing activities at the same time. Today, we bring you Gravitas Biz Park in Shah Alam, a hub for corporate industrial warehouses. The development sits on a 13.7-acre piece of land in Shah Alam, which has long been considered as the Klang Valley’s industrial and manufacturing core. There are a total of 50 units, consisting of 3-storey corporate link and semi-detached warehouses. These warehouses are truly modern warehouses as it incorporates office, showroom and warehouse spaces all under one flexible building. Gravitas Biz Park is built lightweight, small-medium size to cater to the scarcity it in the surrounding market. The link units encompass lot sizes of 33’ X 82’ with a built-up of 4900 sqft, whereas the semi-detached units measure 66’ X 132’ with a bigger built-up of up to 5,900 sq ft. Unique features for maximum utilisation The high ceiling of the warehouse section of these units enable the generosity of goods arrangement within the space. It is equipped with lifts that has access to all floors, thus making transfers between floors a breezy task. The Gravitas Biz Park also takes into consideration the need for good mobility and comes ready with wide driveways measuring at 66ft while the back lane measures 44ft for easy vehicle access. The warehouses are fibre-optic-cabling ready, a sure sign of advancement in technology as the Internet is a vital working tool. It also comes ready with air-conditioning and phone points, thus minimising any hassle for the buyers and tenants of the units. Though small in size, these tough tumblers are able to handle weights of up to 7.5kN/m2, making them as capable as conventional warehouses. The units at Gravitas Biz Park doubles up the competency and efficiency with its flexibility to be showrooms and offices. They come equipped with the quintessential pantry and toilets for a complete working environment. iProperty.com malaysia | 43 01 3 storey corporate semi d warehouse 02 3 storey corporate link warehouse 03 Internal warehousing 02 03 A landmark addition to Shah Alam’s industrial segment The Gravitas Biz Park is set to become a landmark development in Section 26, which is Shah Alam’s mature industrial township. The developments of neighbouring industry bigwigs such as Panasonic Malaysia, Tiong Nam, F&N and Nippon Paint is the proof of it's excellent location as they are located in the middle of four major highways, namely, the Federal Highway, ELITE, KESAS and LKSA, hence a goldmine for businesses looking to tap into the Klang Valley market. The project is targeted towards SME businesses and investors who see the capital potential in leasing out warehouse outlets. The Gravitas Biz Park is targeted to be launched by the end of the third quarter of 2012, Location Map and is expected to be ready for use by third quarter of 2015. Bumiputera buyers enjoy a 7% discount off the listed prices. If you are ready to give your business a facelift, visit www.oskproperty.com.my/gravitas.html, call (603) 2161 3322 / (603) 7728 2229, or email firstname.lastname@example.org. Experienced developer with an excellent track record Paragon @ Pan’gaea is targeted to launch by the end of the first quarter of 2012, and is expected to be completed by 2015. Bumiputera purchasers enjoy 7% discount, and early birds stand to reap extra privileges. To get to know Paragon @ Pan’gaea and even Pan’gaea as an overall, visit www.pangaea.com.my or call (603) 2161 3322 or (6019) 222 7138. iProject Listing ar Ut ya hra bu Le kutuan erse aya P KUALA LUMPUR / LDP Highway AL) EDER (F a- Lebuhr Se H an lat Su Alam ng ai Ke la ng ) (LKSA N F& Bhd n Sd ) AS Taman Perindustrian UEP CYBERJAYA / KLIA / LDP Highway Le Shah Pe rsi bu hr a BHP Tiong Nam SUBANG JAYA ya Mcdonald’s am Taman Perindustrian Subang Utama ) ITE (EL Jln SU 6a Jln SU 6 ing - n Kemu Jln SU 8 Panasonic Malaysia Jln SU 7 raya Lebuh Jln SU 5 KUALA LUMPUR ah ng Te Nippon Paint Jln SU 4 Kawasan Miel ES ia Pers (K k Pera Ja la n Bat In Sim u Tig du e a Lama str UE Sh ial P ah P Al ark bli ran Ju n ga un ub KLANG / PORT KLANG ara nK ua la Se lan go r QuikPro No: NC2575 Project Name: Gravitas Biz Park Location: Shah Alam, Selangor Property Type: Warehouse/office/showroom Land Title: Industrial Built Up: 4,900 - 5,900 sq ft Total Units/Lots: 50 Bumi Discount: 7% Expected Date of Completion: 3rdQ of 2015 Developer: Potensi Rajawali Sdn Bhd 9th Floor, Plaza OSK, Jalan Ampang, 50450 Kuala Lumpur Phone: (603) 2161 3322 / (603) 7728 2229 Fax: (603) 2161 3327 Website: www.oskproperty.com.my/gravitas.html Taman Sri Muda KOTA KEMUNTING KLANG / PORT KLANG Visit iProperty.com.my for more details 48 | TALK POINT | Seri Pajam Development Quality Homes at Affordable Prices 01 iProperty.com malaysia | 49 Although the property market is taking a long-awaited breather in general, the demand for housing in certain parts of Negeri Sembilan is still strong. We got in touch with Tey Soo Leng, a director at Seri Pajam Development Sdn Bhd, to find out more about the companyâ€™s latest projects. 01 Mr Tey Soo Leng, Director of SPD 02 Nusa Intan, Senawang 02 50 | TALK POINT | Seri Pajam Development iProperty.com: Tell us a bit about your companyâ€™s history, how it came about, who were the founders, etc. Tey Soo Leng (SPD): Seri Pajam Development Sdn Bhd was incorporated on 3 March 1994 and later ventured into property development in 2002. Coupled with the founderâ€™s 30 years of experience in the construction field through Bukit Maju Development Bhd, the company has grown to become an established property developer. It has also carved a reputation as an innovative and quality conscious developer that delivers quality products in Pajam, Seremban, Senawang, Salak Tinggi and Bahau. 03 04 SPD currently has its hands full with six ongoing projects with a combined gross development value (GDV) of RM1.52 billion. The projects are Perdana College Heights and Citra Hill in Pajam; Bandar Warisan Puteri in Seremban; Nusa Intan in Senawang; Tiara Heights in Salak Tinggi and Desa Putera in Bahau. We focus on quality and customer satisfaction, thus it is our mission to provide our customers with value added products. With the support from its related companies, namely, construction, trading and manufacturing, SPD is able to deliver product and service quality of the highest standards to its customers. iP: How has the response been for your current projects? SPD: We have recorded strong sales for our projects in Pajam, Senawang, Seremban and Salak Tinggi, with high demand for landed properties. 06 05 iProperty.com malaysia | 51 07 iP: What new offerings can we expect from your company for the second half of 2012? Are there any projects slated for early 2013? SPD: In view of the high demand for landed properties, SPD is going to launch various types of terrace houses and semi-detached houses during the second half of 2012 across our six projects at affordable prices. iP: What are some of your notable upcoming projects in the pipeline? SPD: We are preparing to launch our second guarded community in Citra Hill, namely, Aria Park, a 60-acre development with a GDV of RM200 million (to be completed in 2014) in Pajam. Also in the pipeline is Bandar Warisan Puteri 2 in Seremban, a 200-acre mixeduse development with a GDV of RM480 million, which is riding the success of the 300-acre Bandar Warisan Puteri - a joint venture with TH Properties Sdn Bhd that has a GDV of RM500 million. We have already sold 70% of the properties in that development. Also under construction is a series of semi-detached and 2-storey terraced houses on 60 acres in Salak Tinggi. iP: What are the special features that deserve mention about your projects? SPD: Quality is always the first factor to consider with our products and services. We provide spacious properties at affordable prices and easy access location. Most of our projects are located next to the LEKAS Highway, which makes travel to Kuala Lumpur and within the Klang Valley very convenient. iP: What are the ‘green’ features that have been or will be incorporated in your projects? SPD: We will set up a rain harvesting system for our upcoming semidetached houses in Tiara Heights. Apart from that, all our products are constructed using the Industries Building System (IBS), 03-06 SPD Team receive overwhelmed response from public during “Zam Zam Alakazam Truck Roadshow” 07 Ivory Villas, Exclusive Semi-detached thus reducing the usage of timber during construction. iP: What can we expect to see in terms of your landbank acquisition this year? SPD: SPD is in the process of acquiring an additional 160 acres in Pajam with an estimated GDV of RM550 million. We are comfortable with this area and will not be venturing too far from this area anytime soon unless an unexpectedly good offer comes along. However, the group is also eyeing land in the outer areas of the Klang Valley such as Cheras or Kajang. iP: How do you foresee the property market outlook in the second half of 2012? SPD: We are confident that the company will be able to weather the current market uncertainties because we believe that demand is still strong for residential properties. Besides, we have a good product mix - we offer homes that start from RM250,000 while our upscale properties are priced from RM1.5 million. Thus, we expect to hit sales of RM300 million by year-end. As for investors, they can expect an appreciation of 10% upon completion from our latest project. 52 | TALK POINT | Bandar Utama Development 01 Focusing on the Needs of the Family iProperty.com malaysia | 53 01 9 Bukit Utama iProperty.com: Tell us a bit about your companyâ€™s history, how it came about, who were the founders, etc. Dato Teo Chiang Hong (BUD): The company began developing Bandar Utama back in 1990, so it has been roughly 22 years since we first started. One of our initial projects consisted of link houses. Then from landed property, we moved on to commercial and high-rise development. Our latest project involved the development of a small parcel of zero lot homes. We have just launched the second tower of 9 Bukit Utama, a build-then-sell (BTS) family-based development. Although for many of us the way we live has changed, one thing that has not changed is the fact that homeowners, especially young families, continue to value their private space. The units we offer at 9 Bukit Utama are spacious. Located on a 7.5-acre (3ha) freehold site, the condo project will offer a total of 911 units with an estimated gross development value (GDV) of RM1 billion. It is ideal for families and for those who want to upgrade from landed homes for the security of a condominium without having to feel the loss of space usually associated with high-rise developments. iP: How has the response been for your current project? BUD: 9 Bukit Utama comprises three towers, namely, Aria, Beva and Ceta. Aria was launched in 2010 and has been fully sold. As for Beva, we are currently in discussion with several buyers who wants to buy it enbloc. We recently launched Ceta, which houses 299 units in a 40-storey block. The response has been overwhelming and it is now 60% sold. Most new developments within the Kuala Lumpur city centre can best be described as cosy. Here is one development in the heart of Bandar Utama that is generous with the size of its units. We spoke to the director of Bandar Utama Sdn Bhd, Datoâ€™ Teo Chiang Hong, to find out why is it so. Currently, we are also building zero lots, which will be completed in a few months and should be launched before the end of the year. The first phase consists of 70 units of mainly zero lots with several large bungalow units. The response has been fantastic. We have received enquiries in the thousands although the project is not on the market yet. iP: What new offerings can we expect from your company for the second half of 2012? Are there any projects slated for early 2013? BUD: At the moment, our plate is full. However, going forward, I believe there is a need for more commercial space in the Bandar Utama area. We were quite fortunate with our latest commercial building when it was completed end of 2010. 54 | TALK POINT | Bandar Utama Development 02 The building was very quickly tenanted and by quite a few multinational tenants such as Paypal, Scomi, IBM and KPMG. So for our new commercial space, I would like to develop it as big as I can, but this will depend on the market sentiment next year. The new development would probably offer about half a million square feet or so of rentable space. iP: What are some of your notable upcoming projects in the pipeline? BUD: Like I mentioned earlier, depending on the market sentiment, we are looking at developing a new office block and hotel. This development will be situated right across from our current office. Also in the pipeline are more residential units including several high-rise developments, as well as a hospital. About 90% of the 1,000-acre Bandar Utama township has been allocated for residential developments. So far, we have only developed about 65% of the residential area. There are another seven undeveloped parcels of land set aside for condominiums. iP: What are the special features that deserve mention about your projects? BUD: Home security is quite an important issue nowadays, so we made sure that our security measures is one of the best. For 9 Bukit Utama, we insisted on hiring Gurkha guards to provide proper security for the residents. The built-ups for standard Ceta units are between 2,668 sq ft and 2,742 sq ft, and have 4+1 rooms. Designed for families, young professionals and couples, the condominium’s large sizes make it flexible and versatile enough for a homeowner to create their own music room or private library. The layout in the units from level 25 and above can be configured to suit the needs of each homeowner with the use of GypWall Robust flexible drywall partitions set between the rooms. The drywall partitions are very sturdy and are structurally as good as a brick wall in terms of structure and soundproofing. We are also offering a special promotion of a 2-year Family Sports membership at The Club @ Bukit Utama for our buyers. Residents of 9 Bukit Utama will have access to a fully equipped fitness club with an Olympic-sized swimming pool, a gym, badminton and tennis courts, and a multipurpose hall. The condominium is also one of the very few developments located in the vicinity of a 9-hole golf course. iP: What are the ‘green’ features that have been or will be incorporated in your projects? BUD: For the zero lots development, we are installing a rainwater harvesting system for each unit. The 9 Bukit Utama condominiums will also feature green elements. The blocks are orientated north-south iProperty.com malaysia | 55 away from the sun. At the same time, we make sure that each unit gets as much natural light as possible, without the heat, to reduce electricity usage. We also installed energy saving bulbs in the common areas. For the commercial units, we will install low-E glass, energy saving air conditioning, district cooling and a rainwater harvesting system for sanitary use. The office and hotel that we plan to build will be a green building and get it certified by the Green Building Index. I truly believe that when you save energy, you save cost. iP: What can we expect to see in terms of your landbank acquisition this year? BUD: Most of our projects outside the Klang Valley have been completed. We are now looking at the possibility of new development projects in the Penang and Johor region. In addition, we also have a strong interest in East Malaysia as it is a growing market. We are already involved in the plantation sector over there, so property development could be part of our business expansion. iP: How do you foresee the property market outlook in the second half of 2012? BUD: I believe that there will always be good demand in the Klang Valley, with a steady supply of properties coming on stream. The fact is, the restriction in property financing has had an effect on the sector. Many property players believe the market will face some challenges in the near future. 03 There is still demand for properties, however, the demand now focuses on more specific locations. Buyers are now more selective; they look at the tenure of a property, whether it is a freehold or leasehold. Some may look for units that give a good return on their investment, or for smaller units, a market that has done extremely well in the past 6 months. The rebounding of the local property market will be influenced by the recovery of the world economic market. With the economies of the United States and China in the doldrums, this is a big concern for the rest of Southeast Asia, which has been quite a robust market for the past 10 years. Because of this, local developers are now taking a longer and safer view. They are building smarter and towards affordability. They are certainly more market driven than before. 02 Actual show unit 'New Age' design (Dining room) 03 Actual show unit 'Standard' design (Living room) 04 Actual show unit (Master bathroom) 04 Crossing Over to Borneo “The SABAH EPISODE ” 58 | SPECIAL FOCUS Unraveling The Mysteries of Sabah 01 Pix by: David Kirkland / Sabah Tourism Board For many of us from Peninsular Malaysia, East Malaysia has always been a mysterious land that seems to be untouched by development. Today, that is no longer true. Sabah, in particular, has grown to become a major economic force in the region, both in terms of size and tourist attractions. The beautiful island of Borneo is the third largest in the world and is shared between Indonesia, Malaysia and Brunei. To the northwest coast of this island lies Sabah, previously known as North Borneo, the second largest state in Malaysia measuring at 76,115 sqkm. Sabah, often referred to as the ‘Land Below The Wind’, is blessed with awe-inspiring natural diversity, unique cultures, beautiful beaches, vibrant coral reefs, and some of the world’s top dive sites. The state is also well known for its lush primary rainforests which host a diverse array of plant and animal species. Back in 2000, the sprawling 75,400ha Kinabalu National Park was declared Malaysia’s first World Heritage Site by the United Nations Educational, Scientific and Cultural Organization (UNESCO) because of its richness in plant diversity combined with its unique geological, topographical and climatic conditions. Other important wildlife regions include the Danum Valley, Imbak Canyon and Sepilok. The world's largest flower can also be found in Sabah. The huge red bloom of the Rafflesia can grow to a metre in diameter. Other plants that are endemic to the state include various species of orchids, pitcher plants and rhododendrons. Pix by: CV Chong / Sabah Tourism Board 02 The western part of Sabah is generally mountainous, and the most prominent range is the Crocker Range which houses several mountains of varying heights. It is here that one can find Mount Kinabalu, the highest mountain in Southeast Asia at 4,095m. iProperty.com malaysia | 59 01 02 Sabah is famous for its pristine beaches Mount Kinabalu is the highest mountain in Southeast Asia 03 The Rafflesia is the world's largest flower 04-05 Sabah is home to indigenous people like the Bajau (above) and Murut (below) Sabah is not only the third most populous state after Selangor and Johor, it also has one of the highest population growth rates in the country.â€¨Currently, there are 32 officially recognised ethnic groups in the state. The largest indigenous group is the Kadazan-Dusun people, followed by the Bajau and Murut.â€¨ The Capital of Sabah Kota Kinabalu, formerly known as Jesselton, is the capital of Sabah. This beautiful city stretches for miles along the coast, facing the South China Sea on one side, and towards the inland with Mount Kinabalu on the other.â€¨ 04 Pix by: David Kirkland / Sabah Tourism Board Pix by: David Kirkland / Sabah Tourism Board 03 Pix by: David Kirkland / Sabah Tourism Board 05 Apart from being a major gateway into Sabah and the island of Borneo, Kota Kinabalu is also one of the most thriving industrial and commercial centres in East Malaysia. For many people, it is arguably one of the fastest developing state capital outside of the Klang Valley. According to the Department of Statistics, Kota Kinabalu itself has a population of 452,058 while the larger urban area, which includes the Penampang district, has an estimated population of 651,658. This makes it the largest urban centre in Borneo and the sixth largest in Malaysia. The state capital is no longer merely a popular tourism getaway. It has come alive with new developments in and around the city centre and all the way to the spanking new airport terminal. There has also been a massive boom in shopping centres in and around the city. Apart from the Waterfront, the nightlife in Kota Kinabalu has also spread to other areas such as the KK Times Square. 60 | Special Focus | Blu Summer Suites iProperty.com malaysia | 61 Sabah’s Jewel by the Sea Api-Api or Deasoka. You can call Kota Kinabalu by any other name, yet no one can dispute the fact that the city’s best asset is its glistening coastal line – miles and miles of pristine white beaches surrounding the city; blue, tranquil and unspoiled. Imagine enjoying an enchanting view of the serene seaside from your office. With the Blu Summer Suites, that dream can now be a reality. The Blu Summer Suites feature 420 units of SOVO suites measuring from 401 sq ft to 581 sq ft. The suites, priced between RM468,000 and RM704,000, are the perfect investment for young professionals looking for a fun space to work together. These 1-room-1-bathroom designer which can be easily converted from a typical office setup to a casual discussion space and back. Offering a modern take on architecture and design, the Blu Summer Suites adds a contemporary look to Kota Kinabalu’s harbour front. The development, equipped with some of the best in-house facilities in town, has become part of the city’s modernisation effort. So expect only the best retail outlets and shopping experience, ranging from F&B cafes and eateries to branded clothing and more, from the premium commercial and retail units located just below the suites. A space that embodies health and sustainability Health and wellness play a vital role in the Blu Summer Suite’s agenda, and this is evident in the many fitness amenities made available within the development. There is a swimming pool facing the South China Sea, a soothing treat for the mind, body and soul. There is also a whirlpool, which provides warm relief from the daily stress and pressure. 01 62 | Special Focus | Blu Summer Suites 01 An aerial view of the Blu Summer Suites 02 Enjoy a spectacular view of the South China Sea from your office 03 The designer units can be an office space Nowadays, many modern developments provide a gym to help facilitate healthy living, and the same can be said for the Blu Summer Suites. Saunas are also available to allow the tenants a chance to sweat it out without feeling burned out. For those who practise ancient wellbeing exercises, there is a rooftop garden with a yoga/tai chi corner for an uninterrupted flow of good energy and naturally beautiful surroundings. Hosting guests and visitors simply cannot get any better than at the Blu Summer Suites, with its designated BBQ area for all sorts of outdoor fun. The fully-equipped and state-of-the-art business centre within the development is a breath of fresh air with its vast spaces, thus eliminating the need to cramp meetings and business discussions in a small room. A fairytale location, excellent connectivity The Blu Summer Suites’ excellent location makes it the perfect living and working space within the Kota Kinabalu township. It is centrally situated along Jalan Tun Fuad Stephen, placing it beside some of Kota Kinabalu’s famous landmark buildings such as Bank Negara and the post office. 02 Where shopping is concerned, there is the KK Plaza, Centrepoint Kota Kinabalu, Warisan Square, Wisma Merdeka and Suria Sabah just down the road to choose from. If you need to host a major event or conference, then look no further than the Le Meridien Hotel which is located along the same stretch of road. Travelling across Borneo is a breeze at the Blu Summer Suites, as there is a long distance bus and taxi station less than half-a-kilometre from the development. The Tanjung Aru KTM station is situated about 10 minutes away if trains are your preferred mode of transportation. There are also plenty of other amenities nearby with schools such as SJK (C) Chung Hwa, the Sabah Theological Seminary and St. Peter’s College, as well as government clinics and hospitals. The Blu Summer Suites is now open for registration. The units are fully furnished and come with GRS 6% net PA for the first 2 years. Please call Blu Waterfront Development Sdn Bhd at (088) 487 831 or (6019) 779 8422 for more information. iProperty.com malaysia | 63 03 Location Map iProject Listing QuickPro No: NC2566 Project Name: Blu Summer Suites City: Kota Kinabalu, Sabah Property Type: Sovo Land Title: Commercial Tenure: Leasehold Land Area: 1.762 acre Build Up: 401 - 581 sq ft Listing Price: From RM468,000 - RM704,000 Total Units/Lots: 420 Bumi Discount: 5% Expected Date of Completion : 3 Years From SPA Developer: Blu Waterfront Development Sdn Bhd (820788-P) DBKK No. C-G-6 (17-1) Gr. Flr. Blk. C Harbour City Jalan Pantai Baru Sembulan Kota Kinabalu 88100 Sabah. Phone: (6088) 487 831 / (6019) 779 8422 Fax:( 6088) 487 832 Visit iProperty.com.my for more details 68 | SPECIAL FOCUS | BORNEO Strong Economic Growth for Sabah 01 Pix by: David Kirkland / Sabah Tourism Board Investors, both local and foreign, can no longer afford to ignore Sabah, which is on its way to becoming the next economic powerhouse. Its economy is clearly thriving with billions of ringgit being pumped into various industries from palm oil to tourism. Sabah’s economy was traditionally dependent on lumber. However, it has gradually made the transition to palm oil as this has proven to be a more sustainable resource. It is also highly dependent on agricultural products such as rubber and cocoa. According to data gathered by the National Statistics Department (NSD), Sabah has been recording strong economic growth. The biggest contributor to its gross domestic product (GDP) was the services sector, which contributed about 50.4%, followed by agriculture at 22.9%, mining and quarrying 16.9%, manufacturing 7.9% and construction 1.4%. Sabah also recorded a steady increase in exports and trade balance over the last three years. Dr Abdul Rahman Hasan, Chief Statistician of the NSD, pointed out that the state’s export value stood at RM49.4 billion with a trade surplus of RM16.6 billion last year, a significant increase from RM37.2 billion in exports and RM11.2 billion in trade surplus recorded in 2009. Last year, the biggest chunk of Sabah’s exports was palm oil at 38.8%, followed by crude petroleum at 32.88%. 02 Pix by: David Kirkland / Sabah Tourism Board iProperty.com malaysia | 69 01 A new tourism resort is part of the SDC's plan 02-04 Tourism is the second largest contributor to the state Sabah’s biggest export destination was China. The latter imported RM10.9 billion worth of products or 22.1% of the state’s exports last year. Peninsular Malaysia, on the other hand, remained the biggest exporter to Sabah accounting for 48.1% of the total imports. According to Norezan Wahid, director of the Sabah Statistics Department, the state recorded the biggest gross output in agriculture compared to other states in the country. He stated that Sabah produced 24.7% out of the total of RM53.45 billion in agricultural output in Malaysia last year. In the manufacturing sector, Sabah contributed RM34.1 billion to the country’s total output, not including RM4.6 billion in value-added products. The state also recorded RM7.4 billion in the construction sector, the fifth highest in the country. A Growth Supported by Mega Projects Pix by: David Kirkland / Sabah Tourism Board 03 This year, economists have unanimously agreed that Sabah’s economy is off to a strong start having secured several billion ringgit worth of investments in the first quarter of 2012, guided by an economic plan that is focused on wealth creation. According to press reports, Datuk Seri Musa Haji Aman, the chief minister of Sabah, have stated that there are now RM112.8 billion worth of investments planned and committed in Sabah ever since the Sabah Development Corridor (SDC) was launched in January 2008. These funds will sustain 31 entry point projects (EPPs), which are expected to generate RM35.5 billion in incremental gross national income and approximately 144,000 new jobs. Pix by: David Kirkland / Sabah Tourism Board 04 The chief minister stressed that the SDC has stimulated the investment climate for the state with several huge investments, from both domestic and overseas, such as in the oil and natural gas industry, palm oil, fisheries, livestock breeding and tourism. The latter, particularly eco-tourism, is currently the second largest contributor to the state’s economy. 70 | SPECIAL FOCUS | BORNEO Sabah Development Corridor The SDC is currently second among the five corridors in the country, according to Datuk Dr Yaakub Johari, chief executive officer of the Sabah Economic Development and Investment Authority (SEDIA). SEDIA is the one-stop authority responsible for planning, coordinating, promoting and accelerating the development of the SDC. He pointed out that many of the economic developments and projects are already in place, thus making Sabah an exciting and vibrant place for foreign investors to come in. Some of the flagship projects include the Sabah Oil and Gas Terminal in Kimanis, which is projected to generate RM6.3 billion; the palm oil industrial cluster (POIC) in Lahad Datu worth RM8.6 billion; and coastal tourism development, expected to contribute RM8.6 billion. Other projects such as the Keningau Integrated Livestock Centre, the Sandakan Education Hub, the Sabah Agro-Industrial Park, the Oil and Natural Gas Cluster, the Marine Industry Cluster, the Kinabalu Gold 05 Coast Enclave and agropolitan projects are already in the implementation phase. Launched in February, the RM4.7-billion Sabah Ammonia-Urea Complex project in Sipitan, commonly referred to as Samur, is also expected to have spinoff effects for many industries including agricultural chemicals, plastics and pharmaceuticals. Other projects in the SDC include the Gleneagles Medical Centre; the integrated Jesselton Waterfront and Sabah International Convention Centre in Kota Kinabalu; the International Technology and Convention Centre in Penampang; the Dalit Bay integrated tourism resort in Tuaran; and the Sipadan Mangrove Resort. Commercial real estate is not the only area affected by the recent surge in construction. There are also several projects in the energy sector including plans to build a 300MW power plant. The plant, backed by Tenaga Nasional, Malaysiaâ€™s largest electric utility company, is due for commissioning in 2015. All of these projects, costing nearly RM5.1 billion, have received around RM500 million in federal funds. 06 Pix by: David Kirkland / Sabah Tourism Board 07 Pix by: David Kirkland / Sabah Tourism Board Pix by: Pein / Sabah Tourism Board 05 Sabah is becoming an exciting place for foreign investors 06-07 Property prices in Sabah will continue to rise 72 | SPECIAL FOCUS | BORNEO What's up with Sabah's Property Market The East Malaysian state is generally well-known for its natural attractions that draws tourists in from all around the world. However, many people are still unaware that its strong economic growth has also nurtured a vibrant property market that is set to shine. 01 The property market in Sabah, particularly Kota Kinabalu and its surrounding areas, has been vibrant over the last decade mainly due to the strong economic growth in the state as well as investors from Peninsular Malaysia and Sarawak. Pix by: Ashley Koh / Sabah Tourism Board 02 The launch of a RM3 billion mixed-use development in Kota Kinabalu earlier this year is expected to provide an extra boost to Sabah’s dynamic construction sector. Indeed, some of these developments are expected to lure even more major investments to the state. According to press reports, Datuk Seri Musa Haji Aman, the chief minister of Sabah, observed that the real estate sector in Sabah has experienced much growth in recent years, owing to investors’ confidence in Sabah's economy. He said, “We are seeing an upward trend in real estate value, not only in Kota Kinabalu, but also in other major towns such as Sandakan, Tawau and Lahad Datu.” Transforming the Sabah Landscape Datuk Susan Wong, president of the Sabah Housing And Real Estate Developers Association (Shareda), also expressed similar sentiments. She pointed out that foreign Pix by: David Kirkland / Sabah Tourism Board 01 There is currently an upward trend in real estate value in Sabah 02-03 The Malaysia My Second Home programme has boosted the local property market 04 Foreign investors are flocking to the shoves of Sabah iProperty.com malaysia | 73 investors, especially those from China, have showed keen interest in Sabah's property market. 03 She said, “Many of them have made enquiries regarding acquiring properties here, and they have indicated that the investment market is good in Sabah. These properties have also proven to be popular with investors from the United States, Japan, China and the Middle East.” These investors, she added, were also interested in the Malaysia My Second Home (MM2H) programme. The latter had further boosted the strength of the property market and opened up many new investment opportunities to foreign investors. Many property developers in Sabah attributed the vibrant property market to the palm oil boom in the state and the growing awareness on property investment over the years. This is evident in the scarcity of affordable land for properties, especially in the city area. According to press reports, one property developer, in particular, has decided to turn his focus towards the Putatan area, which is the Southern Corridor of Kota Kinabalu. Datuk John Chee JP, an engineercum-property developer, said, "With the elevation of Putatan to a full district, it would transform the town into a vibrant metropolitan with the up-and-coming facilities. With better roads and flyovers, it only takes 10 to 15 minutes to reach Kota Kinabalu.” Pix by: Mewot / Sabah Tourism Board He added, "The completion of the new Kota Kinabalu International Airport (KKIA) and the recently launched mega project, Aeropod, would also give a big boost to the KK Southern Corridor development. The newly upgraded railway line and the promised Pan-Borneo Highway would also add value to the properties down south.” In addition, Datuk Chee pointed out that the growth of the property market in Sabah can be traced to the mushrooming of the oil and gas industries at Kimanis and Sipitang. In fact, he believed that the property market will continue to be vibrant as long as the economic growth in the state is maintained. 04 Pix by: David Kirkland / Sabah Tourism Board 74 | SPECIAL FOCUS | BORNEO The Aeropod Project 01 The RM1.5 billion mixed development will house the Sabah Railway Department and the latest integrated transportation centre in Kota Kinabalu when it is completed. Back in February, SP Setia, a leading property developer, launched the Aeropod project, an integrated transportation centre also featuring residential, commercial and office space. Located in Tanjung Aru, Kota Kinabalu, the mixed development sits on 60 acres of land fronting Jalan Kepayan and has a Gross Development Value (GDV) of approximately RM1.5 billion. Located just moments from Kota Kinabalu International Airport (KKIA), the development will be completed in five phases over eight to 10 years and will span 28ha when finished. It will host three hotels (including a 5-star establishment), 28,000sqm of retail space (including a shopping mall), office space, 5000 residential units and the new headquarters of the Sabah Railway Department. Aeropod was created in partnership with the state government of Sabah as part of a greater project to transform the Tanjung Aru railway station into a broader transportation centre. To be completed in three years, the first phase will require RM235 million in investments and 11ha of land. 01 The Aeropod project is worth RM1.5 billion 02 The new headquarters of the Sabah Railway Department will be stationed here 02 Within this period, 28 units of shoplots will be built, along with the transport authorityâ€™s headquarters. This phase will also see the construction of Galeria, a visitor attraction that will feature an aquarium and a railway museum. Aeropodâ€™s unique design elements include linked walkways by staircase, lift and escalator, as well as a central courtyard and water features. 76 | SPECIAL FOCUS | BORNEO Taking A Closer Look at 01 Sabah's Property Scene The property scene in Sabah has hit full throttle with development activities that are set to propel the state Pix by: David Kirkland / Sabah Tourism Board 01 Landed homes are beyond the range of most first-time home buyers to the next level of growth. Besides having a huge migrant population and vibrant foreign investment climate, there are also several other factors that will continue to contribute and sustain the sector’s growth in the next few years. A real estate services company in the country has revealed that the rise in prices of landed residential developments in Kota Kinabalu, Sabah, is expected to remain unabated. The latest property market report by CH Williams Talhar & Wong (WTW) attributed this upward trend to rising land and building costs, limited supply of new landed housing properties and the fact that strata-based properties make up the bulk of new developments. The report also stated that, “To cushion escalating house prices, developers are also offering properties further from the city centre and with smaller plot or built-up areas. Landed homes at higher prices are beyond the range of most first-time home buyers who would instead be looking at more affordably priced properties such as apartments and mid-range condominiums.” Contributing Factors to the Uptrend According to press reports, Datuk Chong Choon Kim, managing director of WTW’s Sabah operations, commented that property prices as a whole would continue to rise at about 10%, the same rate as that for last year, based on the prices of newly launched properties in the state. Continues on page 78 78 | SPECIAL FOCUS | BORNEO Her view is supported by the Oxford Business Group’s (OBG) Sabah Report 2011, which revealed that, through the years, growth in Sabah’s real estate market had been influenced by the rise in the price of palm oil. Although palm oil production in the state remained steady from 2002 to 2010, the average prices per tonne had surged over 300% from RM893 to RM3776. According to the report, in the past, palm oil planters used their earnings to buy more plantations. However, given the scarcity of suitable land in Sabah for major industrial development, they are now investing in residential and commercial units. The report added that, “In addition, property has increasingly become more appealing to palm oil players due to the unappealing interest rates offered by local banks. The same low interest rates have also enabled more people to get on the property ladder.” 03 02 Pix by: Mewot / Sabah Tourism Board He believed that Petronas’ plan to pump in about RM45 billion worth of investments in the oil and gas industry in Sabah between now and 2015 would not only be a major stimulus to the local economy but would also have a spillover effect on the housing needs in the state. Chong said, “Considering that at least 3500 new workers are likely to be engaged in these mega projects for locals and foreigners, there would certainly be an increase in housing needs.” Such positive effect on the property market will likely be felt in the commercial sector as well. As such, he reckoned that the rental market for residential and commercial properties would also be more active. Another contributing factor in the upward trend of the local property market in Sabah is the favourable palm oil prices. Datuk Susan Wong, director of Sabah Housing and Real Estate Developers Association (Shareda), commented in a press report that, “The steady uptake of properties by cash rich oil palm planters had resulted in a flourishing property market.” Pix by: David Kirkland / Sabah Tourism Board 02-03 The scarcity of suitable land for palm oil planters hand led them to develop the land commercially Continues on page 80 80 | SPECIAL FOCUS | BORNEO Key Areas for Prime Development Hap Seng Consolidated Bhd is among some of the property developers that have set foot in Sabah. Its managing director, Datuk Edward Lee Ming Foo, pointed out that the robust commodity prices and increasing rural to urban migration had been the key to a buoyant property scene. In a press report, he said that, “The property sector has been expanding over the past five years. Growth in the state’s economic sectors, namely, agriculture, oil and gas and tourism has prompted new developments across the entire state, not just around Kota Kinabalu.” Lee added, “In tandem with the growth of the property sector, property values have also appreciated due to strong purchasing power and low interest rates. As Sabahans grow more affluent, they have also been drawn to other parts of the property market such as commercial shop offices, condominiums and premium landed properties as investment platforms.” He believed that the growth trend in Sabah would be sustained in the next five years as it had benefited from enhanced infrastructure and facilities, adding that the ‘hot’ areas were usually located in the state’s busiest cities and towns and prices had been trending upwards. Compared with just two years ago, Lee noted that property prices had appreciated in all segments with prices of residential, commercial and industrial units rising by 20% to 30%. The Sabah Report 2011 revealed that prime land shortages in the state capital had inhibited home construction, with developers favouring high-density apartment buildings to conserve space and keep prices low for middle-class consumers. Lee concurred with the findings of the report as he had observed that as land in primary areas were becoming scarcer, particularly in Kota Kinabalu, Lahad Datu, Sandakan and Tawau, developers had been trending towards developing high-density apartments and condominiums to meet market demand. However, despite the increasing demand for high-rise residential units, he felt that preference for landed properties would always be there. He said, “Home-buyers in Sabah are discerning and prefer landed properties. As such, for developers with land banks in prime locations in Sabah, it is best to develop landed property that meets the needs and expectations of the market.” Lee concluded that, “That said, we foresee competition in Sabah’s property sector to intensify and incorporating high value added elements will definitely be one of the key areas that developers are looking at.” 04 High-res developments are becoming the norm as land become scarcer 04 Pix by: Pein / Sabah Tourism Board 82 | AREA FOCUS | JOHOR A Tourism Goldmine 01 With the rise of Iskandar Malaysia, Johor is set to become one of Malaysia’s largest tourism destinations, with over a million local and foreign visitors expected to visit the state within the next two years. In this month’s Area Focus, we take a look at the pulls and draws for tourists to the state and new developments for tourism in Johor. Johor has always been popular with tourists as it is one of Malaysia’s more urbanised and developed states. According to last year’s travel statistics, the five most popular tourist haunts there are Tebrau, Gunung Ledang, Danga Bay, Plaza Angsana and Desaru. It is no surprise that most of the places in that list are beachside resorts judging from the fact that Johor is surrounded by the Straits of Malacca and the South China Sea. It has been reported in the press recently that Tan Sri Vincent Tan of Berjaya Group, is looking towards redeveloping a waterfront city in Johor, a project that was previously abandoned in 2010. Dubbed Lido Boulevard, the RM4 billion integrated beachfront development in Johor Bahru will encompass 122 acres, comprising luxury condominiums, waterfront office suites, a hotel, a cultural centre, a green lung and a shopping mall. The southern state benefits from its proximity to Singapore and the Changi Airport, and sees an influx of international visitors from the neighbouring country and beyond. However, with the rise of Iskandar Malaysia as Johor’s socio-cultural and economic redevelopment centre, visitors will soon be drawn to Johor solely for what it has to offer, instead of being just a stopover between Kuala Lumpur and Singapore. What is interesting to note about this particular project is that this joint-venture between Central Malaysian Properties Sdn Bhd (CMP), of which Tan is a stakeholder, and Johor State Secretary Incorporated is set to be one of the biggest privately financed initiatives in the Iskandar Development Region in Johor. This alone is proof enough that the Iskandar Malaysia project is placing vital interest and making tourism one of its main sectors. iProperty.com malaysia | 83 Malaysia’s theme park and amusement capital Malaysia’s southern tip will see the opening of a plethora of theme parks within the next two years. The highlight of the lot is definitely the Legoland theme park, which is set to open doors in September this year. Tickets for the theme park are being sold like hot cakes, and the attraction is expected to welcome a million visitors within the first year of its inception, with hotels and F&B plus retail outlets within the Legoland borders. Echoing this trend is the Puteri Harbour marina and waterfront development, which is set to house three major amusement parks by the end of the year, namely, Hello Kitty Town, Little Big Club and a Lat-themed park. Developed by Themed Attractions and Resorts (TAR) of Khazanah Nasional Bhd, these child-centric theme parks are targeting schools and educational institutions. Khazanah Nasional will also be launching two sea-themed parks in Desaru, called Ocean Splash and Ocean Quest, by 2014. 01 The hugely popular Johor Premium Outlets in Kulaijaya, Johor, featuring branded apparel 02 Legoland Malaysia GM Siegfried Boerst posing with Legoland's mascots 03 A map of Iskandar Malaysia - Johor's redevelopment corridor 02 The RM22-billion Mersing Laguna is expected to be a major tourist attraction, splashing some colour on the sleepy town of Mersing and creating a modern seafront paradise with 22 hotels, a water theme park, a polo field, marinas and plenty of shopping areas. It has been billed as the Bali-beater, and is expected to rope in 1.2 million visitors by 2021. Tunku Ahmad Burhanuddin, CEO of TAR, has been quoted as saying, "The whole idea (of developing Johor) is to increase stays and spend to a more respectable level from now on." He added that the company hopes to see tourists stay longer and spend 25% more. Malaysia, on the whole, loses out to Singapore and Thailand when it comes to tourists’ average stay and spend. In an interview with a local newspaper, he said, "Within the next five years, we would have made some kind of mark. Once we have that, the attraction of that becomes much more. We are now starting from ground zero. Once we get more people to come, there will be more attractions and products." An oasis of modern lifestyle and travel concepts The retail and commercial segment has also contributed to the increase of tourist arrivals in the state, with the development of the Johor Premium Outlets retail centre. Comprising high-end branded retail outlets such as Prada, Gucci and the likes, the shopping city has surpassed its projected figure in terms of tourist arrivals. Now, two other Premium Outlets are being planned for Malacca and Sepang to replicate the success of the Johor venture. According to a press report, Datuk Seri Dr Ng Yen Yen, the Tourism Minister, said, “In 2011, 30% of 03 tourism expenditure was channelled to shopping, which is an increase of 3% from the previous year. We expect this number to continue to increase and we have projected that the expenditure for shopping to increase to 38% by 2020.” The Johor hotel industry is set to experience a boom, with the opening of some 40 new hotels in the state by 2025, according to the Malaysian Association of Hotels (MAH). The association projected that 2000 additional rooms have been made available this year, while another 3000 rooms are slated to enter the market in 2014, to match its status as the theme park and amusement capital of the country. With all of these in store for the tourism sector, the number of visitors coming into Johor will definitely see an exponential growth in the near future. It may soon become the nation’s number one stop for travellers coming into the region, which will contribute towards building a healthier socio-economic status for the nation as a whole. Johor, once overlooked, is set to shine on the world tourism stage. 84 | AREA FOCUS | PENANG Where is Penang Headed? The scarcity of land on Penang island have caused residential property prices to soar over the past five years. Let us take a closer look at the trend and examine the areas where property developers are cashing in. Property prices on Penang island are among the highest in Malaysia, according to real estate valuers. A recent press report revealed that prices for condominium units in Batu Ferringhi, Tanjung Bungah and Gurney Drive are starting from RM2 million for units measuring 1,000 sqft. According to Michael Geh, director of Raine & Horne Malaysia, the increase was among the steepest in the Pulau Tikus, Gurney Drive, Tanjung Tokong and Tanjung Bungah residential neighbourhoods, which experienced a rise of over 25% in prices. In areas such as Bayan Baru, Sungai Ara, Minden Heights and Batu Maung, prices of condominium units and terrace and semi-detached houses have also increased by at least 25%. Geh pointed out that the medium-range housing schemes in George Town neighbourhoods of Perak Road, MacCallum Street, Burmah Road, Jelutong Road and Sungai Pinang have also experienced a similar price increase over the past five years. Although this has driven many people to buy homes in Seberang Prai, where prices are a third of those on the island, Geh observed that prices of property on the mainland are rising as well. As such, he believed that property prices in Penang will continue to rise given the rise of raw materials prices and the scarcity of land. iProperty.com malaysia | 85 More to come Despite the tightening of housing credit by banks, some RM6.463 billion worth of residential and commercial properties are about to be executed by Kuala Lumpur and Penang-based developers on the island and mainland in the second half of the year and 2013. Among the developers with plans for new housing projects in Penang are SP Setia Bhd, IJM Land Bhd, Mah Sing Group Bhd, Sunway Bhd, Ideal Property Development Sdn Bhd and Ivory Properties Group Bhd. About RM6.105 billion worth of projects are located on the island, comprising mostly high-rise projects, with the remaining RM358 million being planned for Seberang Prai, to be undertaken by Sunway and IJM Land in the second half year and 2013. As land is still available in the South-West district, areas such as Sungai Ara, Batu Maung, Bukit Jambul, Sungai Nibong and Teluk Kumbar continue to be popular with developers such as SP Setia, Sunway, IJM Land and Ideal Property. Due to rising land cost, Datuk Jerry Chan, chairman of the Real Estate and Housing Developers' Association (Rehda) Penang, believed that the trend of development on the island will be towards high-rise developments. He stated that the state's economic status was still sound, which is the reason developers continue to launch new projects. The stability of raw material prices is another contributing factor, according to Datuk Finn Choong, executive advisor of the Penang Master Builders' and Building Materials Dealers Association. â€œBy launching their projects now, developers can lock on to the present prices of construction materials for their projects. This means developers can price their properties within the affordable range of RM400,000 and RM500,000,â€? he said, adding that a number of the projects planned for launch in the South-West district this year and next year are priced within this range. Since 2010, the price for both residential and commercial properties in Central Seberang Prai has appreciated by about 20%. In Seberang Prai itself, the value of properties continue to rise as the second bridge is scheduled to be completed soon. In the second half of 2012 and in 2013, SP Setia plans to undertake RM1.288 billion worth of properties in the South-West district, in addition to RM1.275 billion worth of projects, consisting of a RM1.1 billion mixeddevelopment project in Tanjung Bungah and a RM175 million condominium project in Sungai Nibong. These projects include the RM250 million Setia Triangle, a commercial cum residential scheme in Sungai Ara, the RM335 million Setia Greens 2 in Sungai Ara and a RM53 million condominium project in Teluk Kumbar. Next year, SP Setia plans to launch the Wave and Breeze condominium projects for Setia Pearl Island in Sungai Ara, with a GDV of RM350 million and RM300 million respectively. Similarly, Penang-based Ideal Property Sdn Bhd plans to launch residential and commercial projects with a collective GDV of RM1.1 billion for the SouthWest district, starting with the RM400 million Imperial One project in Sungai Ara comprising 768 units of condominiums. The company also plans to launch the first phase of the Ideal Vision Park, a RM1.5 billion mixeddevelopment scheme, early next year. The first phase comprises RM300 million worth of high-rise residential and commercial properties, followed by four more phases that will be launched in stages in 2014 and 2015. By year end, IJM Land plans to launch the RM85-million Trehaus scheme, comprising 26 semi-detached properties and 46 villa condominiums, in Bukit Jambul. It also plans to launch the RM350-million Light Collection III, comprising 190 condominiums and duplex townhouses, in the North-East district. Ivory Properties Group Bhd plans to follow suit by launching about RM1.6 billion worth properties on the island in the next few months. These projects comprise the first phase of Bayan Mutiara, the third and fourth phases of the residential towers for Penang Times Square, a RM130-million condominium block in Batu Ferringhi, and the RM400-million City Mall and City Residence project in Tanjung Tokong. In line with its target to focus on residential properties priced below RM1 million in Penang, Kuala Lumpur and Johor, Mah Sing is planning to launch RM180 million worth of low-rise condominiums in the Batu Ferringhi tourist belt later this year. Over in Seberang Prai, some of the upcoming projects include the RM185-million Sunway Wellesley by Sunway, comprising residential and commercial properties, and the RM173 million Permatang Sanctuary scheme, comprising 300 semidetached and bungalow properties. 86 | HBA How Can the HDA Be Made More Effective? A number of weaknesses in the Housing Development (Housing Development Account) Regulations (HDA) have been identified ever since it was first introduced more than 20 years ago. It is about time action is taken to plug the loopholes in the HDA to safeguard the interests of purchasers. By Baharuddeen Abu Bakar The Housing Development (Housing Development Account) Regulations (HDA) was introduced by the Housing Ministry in 1991 to ensure that developers who borrow using the purchaser’s property as security pay the loans, and the instalments of the purchase price paid by the purchaser are paid into this account. The requirement is for the money in the HDA to be used only for the purpose of the project, thus this was expected to reduce, if not eliminate, the problem of misappropriation of funds. Clause 2 of the Sales & Purchase Agreement (SPA), which allows the developer to borrow, requires that the loans taken by the developer be settled by the time of vacant possession of the property, i.e. within 24 months in the case of landed properties or 36 months for strata title properties. This creates the implication that the developer and the developer’s bank would have an agreement whereby the amount borrowed by the developer with the purchaser’s property as security will not exceed the purchase price. This simply means that if the total amount of the loan was divided equally among the lots sold to the purchasers, the amount of the loan secured by each lot (the redemption sum owed by the developer) would not exceed the purchase price of that lot. This will ensure that the lot is redeemable by the payment of the purchase price. The developer, knowing that the property must be free from encumbrances (clause 2(1)) by the time of vacant possession, should arrange with the developer’s bank to deduct from the HDA the redemption sum progressively so that the developer’s iProperty.com malaysia | 87 loan is settled by vacant possession time. However, this generally does not happen because the developer uses the loan for other purposes and the developer’s bank is not authorised by the HDA Rules to deduct the redemption sum directly from the HDA. As such, the loopholes that need to be plugged are obvious; otherwise, the only achievement to the HDA is to ensure that developers open bank accounts as they are not likely to keep their money under their beds in any event! In addition, the developer is required to apply for the separate document of title immediately upon the purchaser signing the SPA. This application needs to be made early as the issuing of the separate document of title is expected to be a fairly long process, i.e. anything from 24 to 36 months. It is the optimistic expectation of the SPA that, as the application is being processed, the construction goes on apace and is practically completed by vacant possession time; the purchase price is settled within the same time; and the developer’s charges are cleared by vacant possession time as undertaken by the developer so that the latter is ready to transfer the property. This merry confluence of events almost never takes place in practice because the developer is still lagging behind in two of his most important obligations, i.e. clearing his charge on the purchaser’s property and transferring the property to the purchaser. Even when the developer does not abandon the housing project, the risk to the purchaser who has fulfilled all his obligations is that the developer’s bank may dispose of the purchaser’s property! This is a gross injustice to the purchaser which may easily be prevented by tweaking the SPA and regulations: i) Ensure that the redemption amount per lot owed by the developer does not exceed the purchase price of each lot; ii) Require that developers and their banks to agree between themselves to allow the bank to deduct the redemption sum from the purchase price paid by the purchasers; iii) If the developer’s bank does not adhere, with the prior agreement of the developer, the former shall forfeit its charge on the purchaser’s property; iv) Alternatively, the developer’s bank and the purchaser’s bank may, with the developer’s acquiescence, arrange for the direct payment of the instalments of the purchase price by the purchaser’s bank to the developer’s bank instead of going through the developer’s hands; and cash purchasers should pay directly to the developer’s bank or, in instalments, according to their convenience; v) The illusory safeguard given under clause 2 sub clauses (2) – ‘no foreclosure if the purchaser agrees to the developer borrowing after the sale’; and (3) ‘direct payment by the purchaser to the developer’s bank in exchange for the redemption statement with no assurance that the property is now free from encumbrances – should be removed for being otiose. These changes have the merit of allowing the developer to borrow, yet the amount is limited by the redemption sum and further limited by the reducing amount of the purchase price; ensuring that paying the developer’s bank is not the option of the developer; the developer’s bank is now given the responsibility to recover its own loan in a manner that would adversely affect the bank if it failed to use its powers; the deductions will have to take into account the value of the construction work done by the developer, and the latter will still get its cash flow. The developer’s bank, as a non-party to the SPA (privity of contract), cannot be heard to object to these responsibilities as these are for its own benefit. Privity of contract was no barrier to it allowing the developer to borrow increasing amounts at the risk of the purchaser’s property; privity of contract did not matter in inducing the purchaser with the promise of ‘no foreclosure’ to agree to the developer borrowing some more; and privity did not stand in the way of the developer’s bank promising to give the purchaser the redemption statement of the developer’s liabilities, 88 | HBA only if the purchaser agrees to settle the developer’s liabilities; all of which do not benefit the purchaser! This begs the question: is ‘privity of contract’ being used an insurance in case the purchaser sued the developer’s bank for not taking steps to recover its loans from the developer? Our neighbour Singapore seems to have solved these problems since 1985 with its Housing Developers (Project Account) Rules, or its predecessor, whereby the developer’s bank had to pay all loans into the Project Account, and withdrawals of the balance sum could be made only after mortgages and charges had been settled by the developer. Furthermore, even when a housing project has been completed and the purchasers have moved in, many are without the separate document of title to their property. It is required of the developer to apply for separate titles to each housing lot immediately upon the SPA being signed (clause 11) as it is known to be a long drawn out process. While the application is being processed, the construction goes on apace; the purchase price is being settled in instalments so that the whole amount is paid by vacant possession time (i.e. within 24 months in the case of landed properties and 36 months for strata title properties); the property is expected to be ready with separate titles; and the application for transfer to the purchaser made. This happy confluence of important events, culminating in the fulfilment of all the parties’ obligations, usually does not take place because the developer’s charge is still on the purchaser’s property. Considering that the National Land Code (NLC) makes it clear that a person is not truly the owner of a piece of land that he bought and has paid for until his name appears on the title, it is strange that the SPA prescribed by the Housing Ministry, another branch of the same government which gave us the NLC, does not ensure that this happens. Baharuddeen Abu Bakar is a law lecturer at the International Islamic University and voluntary Legal Advisor of HBA. NATIONAL HOUSE BUYERS ASSOCIATION [HBA] No. 31, Level 3, Jalan Barat, Off Jalan Imbi, 55100, Kuala Lumpur Tel: 03-2142 2225 | 012- 334 5676 | Fax: 03-22601803 Email: email@example.com | Web Site: www.hba.org.my 90 | JOEY YAP Embracing Water with Feng Shui In this issue, let us take a look at the common internal features to observe when evaluating the Feng Shui of a property with the placement of Water or interior Water. One general rule for any unfavorable internal form: We must determine if it is a curable situation, though not every situation needs curing, and in some cases, passing up on the property may be your best bet. The idea is to find a place that already has a good Feng Shui Quotient where you can spend money on improving, not fixing. It is not uncommon to find houses with water features such as a small pond or an aquarium built into the interior of the property. The placement of Water is an important aspect of a Feng Shui consultation and is something that should be left to the professionals as incorrect placement could create serious problems for the occupants. Water substantially affects the flow of Qi in a property and is something that should always be given serious consideration. When done right, Water will encourage positive Qi flow. Pools and Ponds Avoid a property with a pool cutting into it – meaning: a pool built almost ‘into’ the house, where part of it is indoors and the rest, outdoors. The kind of problems the occupants will experience will depend on the sector this pool is located. Steer clear of properties with a pond or body of water in the centre. The centre is the heart of the house and the central palace should always be Yin, where it is stable and quiet. Also avoid building a pond underneath the staircase, especially if the staircase is close to the centre of the property. Do not choose a property with a pool above the main door or porch as it is an extremely detrimental formation that can cause significant loss of wealth. iProperty.com malaysia | 91 Waterfall in the Property Toilets Waterfall, either inside or outside the property, is a negative feature, depending on the sound it generates. However, if the waterfall creates a pleasant sound - gently rippling or gurgling noise - then it is fine. Even so, you still need to consider if it is located in a suitable sector for Water in the house. Toilets do not flush away wealth or emit negative Qi. This is the wrong impression. But this is not to say that the location of toilets is not significant in Feng Shui. It is a consideration, if the property has a toilet – or specifically, the actual toilet bowl or bathtub itself, and not referring to the toilet room – squarely above the main door. It is advisable to either move the main door inwards, outwards, or relocate the toilet bowl. Do note that if the ceiling at the main door area is high, this is not a problem. The same applies if you have a toilet bowl directly above the kitchen stove or bed. Aquariums Take this into consideration only when a substantial sized tank (anything more than five feet in length) is involved, as it will invariably assert some Feng Shui effect. If you plan for this, it is best to consult a Feng Shui master first. The types and number of fish in the aquarium is not relevant in Feng Shui. Finding the right location to collect and stimulate Qi, which is the purpose of employing the aquarium solution, is more pertinent. As mentioned earlier, it is highly recommended to consult a Feng Shui professional to do a proper evaluation for Water placement. That way, you can be rest assured it is done right for your benefit. Joey Yap’s Profile Joey Yap Consulting Group Joey Yap is the leading Feng Shui, BaZi and Face Reading consultant in Asia. He is an international speaker, bestselling author of over 75 books and master trainer in Chinese Metaphysics. He is also the Chief Consultant of Joey Yap Consulting Group and founder of the Mastery Academy of Chinese Metaphysics. For more information go to www.masteryacademy.com/ippt 19-3, The Boulevard, Mid Valley City, 59200 Kuala Lumpur, Malaysia. Tel: +603-2284 8080 | Fax: +603-2284 1218 94 | HOME SERVICES | PANEL AD WATERPROOFING MS Innovation Sdn Bhd (816758-X) NO HACKING WATERPROOFING Tel: (603) 4031 4366 / (6016) 236 6159 Fax: (603) 4023 9213 Email: firstname.lastname@example.org Web: www.nohackingwaterproofing.com facebook.com/msinnovation Alen Corp Asia AIR PURIFIERS YOUR AIR PURIFIER FOR LIFE Now the #1 Premium Air Purifiers in the USA & China Industry Leading True HEPA Filtration with an unprecedented removal of Fine Airborne Particles of 99.42%! First to be Energy Star/RoHS Certified and only to offer a Lifetime Warranty in the world. Free Delivery - Free Setup - Free Indoor Air Quality Test. Add: PUBLIKA Shopping Center - Solaris Dutamas, Unit A4-3-03 (just left of Old Town White Coffee), Jalan Dutamas 1, Sri Hartamas, 50490 Kuala Lumpur. 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Air Conditioning & Ventilation Acson Website: www.acson.com.my Tel: 603-7964 8388 York Website: www.york.com.my Tel: 603-7718 8388 KDK Fans (M) Sdn Bhd Website: www.kdk.com.my Tel: 603-7785 5011 Air Purifiers Alen Corp Asia Website: www.alencorpasia.com.my Tel: 6013-388 1967 Oriental Wisdom Metaphysic Academy Website: www.orientalwisdom.com.my Signature Kitchen Cabinet Sdn Bhd Website: www.signaturekitchen.com.my Tel: 603-6286 7000 Mastery Academy of Chinese Metaphysics Sdn Bhd Website: www.masteryacademy.com Tel: 603-2284 8080 Fiamma Sdn Bhd Website: www.fiamma.com.my Tel: 603-6279 8888 Local Movers Flooring Floor Depot Website: www.floordepot.com.my Tel: 603-8062 8589 Pest Control Furnitures & Customized Furnitures Deep Living Sdn Bhd Tel: 603-6141 6159 Audio/Visual Equipment WNM EShop.com Sdn Bhd Website: www.wnmeshop.com Tel: 603-2144 2288 XZQT Home Store Sdn Bhd Website: www.xzqt.com.my Home Accessories Ceramic Tiles Malaysia Mosiac Bhd Website: www.mmosiacs.com Tel: 1300-88-8182 Antipest Management Services Sdn Bhd Website: www.antipest.com.my Tel: 603-8023 1888 Security Systems Sensorlink Sdn Bhd Website: www.centrixsecurity.com Tel: 603-7983 7270 Expressions Entertaiment Sdn Bhd Website: www.expressions.com.my Tel: 603-4270 3372 ADT Services (M) Sdn Bhd Website: www.adt.my Tel: 1-300-88-0228 Universal Cable (M) Bhd Website: www.ucable.com.my Tel: 603-7845 6699 Solar Water Heater Curtains SSF Sdn Bhd Website: www.ssfhome.com Tel: 603-6140 2020 Alied Movers Website: www.aliedmovers.com Tel: 603- 6259 3470 Insect Screens SolarMate Sdn Bhd Website: www.solarmate.com.my Tel: 603-5569 1688 Elegant Home Decor Sdn Bhd Website: www.elegantscreens.com Tel: 603-9172 3126 Monier Sdn Bhd Website: www.monier.com.my Tel: 1-800-88-0865 CSR Climate Control (M) Sdn Bhd Website: www.csrcoolbatts.com.my Tel: 603-3341 3444 Interior Design Window, Curtains & Blinds Monier Sdn Bhd Website: www.monier.com.my Tel: 1-800-88-0865 Structure Rhythm Sdn Bhd Website: structurerhythm.blogspot.com Tel: 603-9205 6209 Feng Shui Oceana Ventures Sdn Bhd Website: www.oceanaventures.com Tel: 603-7877 0048 Eco/Energy Saving Studio 212 Sdn Bhd Website: www.studio-2-1-2.com Tel: 603-7885 8280 Prosperity Feng Shui Sdn Bhd Website: www.prosperityfengshui.com B&N Design Associate Sdn Bhd Website: www.bnndesign.com Tel: 603-4142 6344 Kitchens Artset Design Sdn Bhd Tel: 603-6156 3763 Hunter Douglas Window Fashions Malaysia Sdn Bhd Website: www.hunterdouglas.com.my Tel: 603-5191 2020 Water Purifiers Nesh Marketing Sdn Bhd Website: www.nesh.com.my Tel: 603-8060 3668 98 | TOWNSHIP DIRECTORY Jade Hills Gamuda Land/Gamuda Berhad Kajang, Selangor Fully Integrated Township 4,216 sq ft, the 2-storey bungalows come with 5+1 rooms and 6 bathrooms which are perfect for multi-generational families. Gamuda Land’s milestone Safety 123 feature, guard checkpoint upon entrance, 24-hour guard patrol, CCTV surveillance and a panic button control room provide peace of mind to all residents within this community. Jade Hills also has a fully-equipped Resort Club, a Town Centre to meet the residents’ daily needs, and the Jadite Suites, fourblocks of serviced apartments which are perfect for young professionals and couples looking for a home for their blossoming family. Fully Integrated Township This 366-acre vast freehold township in Kajang is a sight to behold and an experience to be appreciated and enjoyed. It comes with three zones, namely The Hills, The Lakes and The Gardens. The hillside development as it is built on vast land with three lakes right at the heart of its town, namely Misty Lake, Willow Sweeps and Water Spring. Jade Hills’ offering of Bungalows, Twin Villas, Quad Villas and Garden Terraces all form the 258-acre landed residential component of the development. The Gardens Bungalow is currently the last phase of bungalows available for sale in the Gardens precinct. With four types to choose from and built-ups ranging from 4,081 sq ft to Bandar Seri Putra Bangi Heights Development Sdn Bhd Bangi, Selangor A mixed development of residential and commercial properties We present you another chance to own prime homes at Legundi Residensi Series II in Bandar Seri Putra. It continues the concept of contemporary design with water feature of the first series but with a much bigger built-up area. The township is directly accessible from Kuala LumpurSeremban Highway via the Putra-Mahkota Interchange and is surrounded by developments such as Bukit Mahkota, Impian Putra, Bandar Baru Bangi, Desaria Nilai, Bukit Unggul and Bandar Baru Nilai. Bandar Seri Putra is a self-contained township catering to the living, recreation and business needs of the modern and knowledgeable community. The 898-acre freehold development enjoys excellent accessibility, with a wide Getting to and from Jade Hills is also swift and hassle-free with connecting highways like the Sungai Besi Highway, KL-Seremban Highway, SKVE and SILK all bringing residents to major hubs such as Kajang and Cheras, Puchong, Cyberjaya, Putrajaya, Nilai and Semenyih, and KL City Centre and PJ. Jade Hills is a work of art presented to you by Gamuda Land, a subsidiary of Gamuda Berhad, a Main Market listed company on Bursa Malaysia. For more information, you are welcomed to call 603-8737 0122 or log on to www.jadehills.com.my. Further Information: Jade Homes Sdn Bhd (710233-K) Property Gallery, Persiaran Jade Hills Utama, Jade Hills Kajang 43000 Selangor. Phone: (603) 8737 0122 Fax: (603) 8737 9262 Website: www.jadehills.com.my range of amenities and facilities within the vicinity. It is approximately 20 minutes by road southeast of Kuala Lumpur, 15 minutes north to Seremban town, 15 minutes from Kuala Lumpur International Airport (KLIA) and 2 minutes to the Bangi (Lama) township. with modern lifestyle features such as underground external electrical and telecommunication services facilities. Being close to the Federal Territory of Putrajaya and the MSC, and adjacent to the education hub – comprising Bandar Baru Bangi and Bandar Baru Nilai which encompasses tertiary educational institutions such as UPM, UKM, UNITEN, Inti UniCollege and KUIS – Bandar Seri Putra is a much sought after address among civil servants, professionals and the intellectual community in the Southern Klang Valley. Its range of residential and commercial properties are infused Extensively landscaped to provide a green environment, Bandar Seri Putra emphasizes on wholesome, healthy living. Interested buyers may select from a wide range of properties including bungalow lots, bungalows, semi-Ds, double-storey terrace homes, townhouses, low-rise and high-rise apartments, as well as commercial shop offices. For further details, kindly call (603) 8927 1611 or send an email to email@example.com 2nd Series Further Information: 34, Jln Seri Putra 1/2, Bandar Seri Putra, Bangi 43000 Selangor. Tel: (603) 8927 1611 / (603) 8925 4972 Email: firstname.lastname@example.org Web: www.umland.com.my 100 | LATEST DEVELOPMENTS | iLUXURY Shng Villas Vue Residences Location: Cheras, Kuala Lumpur Property Type: Semi-Detached House Land Title: Residential Build Up: 4,218 sq ft Listing Price: From RM2,300,000 Developer: Valencia Terrace Sdn Bhd (730978-X) Phone: (603) 7985 8188 / (6017) 581 2405 / (6017) 801 3575 Fax: (603) 7952 9848 Email: email@example.com Website: www.ijmland.com Location: Jalan Pahang, Kuala Lumpur Property Type: Serviced Residence Land Title: Commercial Tenure: Freehold Land Area: 2,833 sqm Build Up: 500 - 1,003 sq ft Listing Price: From RM371,600 Expected Date of Completion: Dec 2013 Developer: Tanah Perangsang Sdn Bhd (538766-X) Phone: (6016) 229 5168 Fax: (603) 5637 9370 Website: www.vueresidences.com.my Laman Ceylon Icon Residence Location: Jalan Ceylon, Kuala Lumpur Property Type: Serviced Residence Land Title: Commercial Tenure: Freehold Build Up: 624 - 1,604 sq ft Listing Price: From RM701,800 - RM1,890,000 Expected Date of Completion: End 2014 Developer: Eminent Ace Sdn Bhd (341126-T) Phone: (603) 7806 3138 Fax: (603) 7806 3238 Location: Mont Kiara, Kuala Lumpur Property Type: Serviced Residence Land Title: Commercial Tenure: Freehold Land Area: 2.57 acres Build Up: 887 - 4,716 sq ft Listing Price: From RM1,200,000 Expected Date of Completion: 3 Years from SPA Date Developer: Maxim Heights Sdn Bhd (747466-P) (A subsidiary of Mah Sing Group Berhad) Phone: (603) 6205 9888 Fax: (603) 6205 9999 Website: www.icon-residence.com.my NC 23 04 N C2 48 7 N C2 3 64 N C2 45 8 102 | LATEST DEVELOPMENTS | KLANG VALLEY CONDOMINIUM Project Name: Skypod Residences Location: Bandar Puchong Jaya, Puchong, Selangor Property Type: Serviced Residence Land Title: Commercial Tenure: Freehold Land Area: 5.2 acres Listing Price: From RM383,800 Total Units/Lots: 640 Bumi Discount: 5% Expected Date of Completion: December 2015 Developer: Pilihan Megah Sdn Bhd (195631-P) Phone: (603) 8064 8899 Fax: (603) 8064 8822 Website: www.ioiproperties.com.my Project Name: AraGreens Residences Location: Ara Damansara, Petaling Jaya, Selangor Property Type: Serviced Residence Tenure: Freehold Land Area: 7.5 acres Build Up: 684 â€“ 3,831 sq ft Expected Date of Completion: 2015 Developer: HSB Development Sdn Bhd (710822-A) Phone: (603) 2787 0688 Fax: (603) 2787 0699 Website: www.aragreens.com Project Name: 9 Bukit Utama Location: Bandar Utama, Petaling Jaya, Selangor Property Type: Condominium Land Title: Residential Tenure:Freehold Listing Price: From RM1,165,800 - RM5,000,000 Total Units/Lots: 911 Bumi Discount: 7% Status: Completed With CF Developer: Bandar Utama Development Sdn Bhd (74255-D) Phone: (603) 7729 8363 Fax: (603)7729 8682 Website: www.bukit-utama.com.my Project Name: Zefer Hill Residence Location: Puchong, Selangor Property Type: Condominium Land Title: Residential Tenure: Freehold Land Area: 5.768 acres Build Up: 1,356 - 2,139 sq ft Expected Date of Completion: April 2015 Developer: Villamas Sdn Bhd (204369-V) Phone: (603) 8076 7606 (Sales Gallery) (603) 7880 0033 (Villamas Sdn Bhd) Fax: (603) 7804 8913 Website: www.villamas.com Malaysia’s 1st Digital Property Showroom iProperty.com Malaysia Sdn Bhd is introducing iShowGallery, Malaysia’s first digital property showroom made available on the Apple iPad. This latest addition into the iProperty Group’s mobile arsenal takes its viewers through an immersive property browsing experience that discovers Malaysia’s top developments available for sale every month. REFINED PANORAMIC EXPERIENCE 360 o View properties and rooms in full 360 o Get a full view of properties in high definition (HD) and tap to view the video walkthrough of the property. iProperty.com Malaysia Sdn Bhd. 45-6, The Boulevard, Mid City STUNValley NING HD EXPERIENCE Lingkaran Syed Putra Discover high definition photos and videos 59200 Kuala Lumpur Swipe left or right for a panoramic view. Malaysia. 3D FLOOR PLANS MAPS & DIRECTIONS Bring floor plans and site maps to life Get interactive maps and driving directions Tap on the floor plans for a 360° view of the room read more about the development. and Tell your friends about this property, get directions to the property from your location or send an enquiry to the developer. N C2 48 4 N C2 46 1 N C2 43 3 N C2 29 8 104 | LATEST DEVELOPMENTS | KLANG VALLEY CONDOMINIUM Project Name: T-Parkland Location: Templer Park, Selangor Property Type: Condominium Land Title: Residential Tenure: Leasehold Build Up: 1,210 - 1,669 sq ft Listing Price: From RM353,000 - RM419,000 Total Units/Lots: 240 Developer: B&G Majestic Property Sdn Bhd Phone: (603) 8023 6868 Project Name: Sentral Residences I & II Location: Taman Kajang Sentral, Kajang, Selangor Property Type: Serviced Residence Land Title: Commercial Tenure: Freehold Land Area: 2.24 acres Build Up: 1,047 - 1,529 sq ft Listing Price: From RM368,544 and above Total Units/Lots: 270 Developer: TKS Projects Sdn Bhd Phone: (603) 8739 7618 / (6012) 381 1611 Website: www.sentralresidenceskajang.com Project Name: Iringan Hijau Condominium Location: Ampang Hilir, KLCC, Kuala Lumpur Property Type: Condominium Land Title: Residential Tenure: Freehold Land Area: 2 Acre Build Up: 3,304 - 5,446 sq ft Listing Price: From RM3,000,000 Total Units/Lots: 26 Status: Completed with CF and strata title issued Developer: Dawntree Properties Sdn Bhd (234256-W) Phone: (603) 2162 6688 Fax: (603) 2162 4545 Website: www.iringanhijau.com Project Name: Metropolitan Square C Condominium Location: Damansara Perdana, Petaling Jaya, Selangor Property Type: Condominium Land Title: Residential Land Area: 16.05 acres Build Up: 975 - 1,245 sq ft Listing Price: From RM525,564 - RM834,000 Total Units/Lots: 258 Bumi Discount: 7% Expected Completion of Date: Jan 2015 Developer: Saujana Triangle Sdn Bhd (339170-W) Phone: (603) 7722 1000 Fax: (603) 7722 4464 BLOCK C CONDOMINIUM Malaysiaâ€™s 1st digital property showroom 360 o REFINED PANORAMIC EXPERIENCE View properties in full 360 o STUNNING HD EXPERIENCE Discover high definition photos & videos 3D FLOOR PLANS Bring floor plans and site maps to life MAPS & DIRECTIONS Get interactive maps and driving directions property browsing experience to its viewers; allowing users to view a property, its interactive video with just an iPad! Visithttp://iprop.my/ipropertyhd to download this FREE app. iProperty.com Malaysia Network: Group : Malaysia : Indonesia : Hong Kong : Macau : Singapore : CommercialAsia : Phillippines : India : iLuxuryAsia : Expo NC 23 70 NC 24 13 NC 24 36 NC 24 00 106 | LATEST DEVELOPMENTS | KLANG VALLEY RESIDENTIAL Project Name: The Vale Location: Sutera Damansara, Selangor Property Type: Townhouse Land Title: Residential Tenure: Leasehold Land Area: 26' x 85' Listing Price: From RM780,000 (est) Total Units/Lots: 98 Developer: Semponia Sdn Bhd Phone: (603) 6142 1188 Website: www.thevale.com.my Project Name: Tamarind Location: Puteri Heights, Bandar Country Homes, Rawang, Selangor Property Type: Semi-detached House Land Title: Residential Tenure: Leasehold Build Up: 42' x 70' sq ft Total Units/Lots: 33 Developer : Hartawan Pasifik Sdn Bhd Phone : (603) 2142 3222 / (603) 2148 3222 Fax : (603) 2141 5222 Project Name: Glenmarie Gardens City: Section U1, Shah Alam, Selangor Property Type: Bungalow House Land Title: Residential Tenure: Freehold Land Area: 8,364 - 14,693 sq ft Build Up: 6,060 - 8,033 sq ft Listing Price: From RM5,609,877 - RM8,238,877 Total Units/Lots: 23 Developer: Glenmarie Properties Sdn Bhd Phone: 1800 888 580 Website: www.glenmariegardens.com Project Name: Laman Glenmarie City: Shah Alam, Selangor Property Type: 2-sty Terrace/Link House Land Title: Residential Tenure: Freehold Land Area: 1,765 - 6,006 sq ft Build Up: 2,429 - 3,442 sq ft Listing Price: From RM758,888 - RM1,450,888 Total Units/Lots: 186 Bumi Discount: 7% Developer: Glenmarie Properties Sdn Bhd Phone: 1800 888 580 Website: www.laman-glenmarie.com NC 25 73 NC 24 83 NC 22 83 NC 24 66 108 | LATEST DEVELOPMENTS | KLANG VALLEY RESIDENTIAL Project Name: Sterling Villas Location: Cheras South, Selangor Property Type: Zero-Lot Bungalow Land Title: Residential Tenure: Freehold Build Up: 3,600 - 4,300 sq ft Listing Price: From RM2,650,000 - RM3,480,000 Total Units/Lots: 32 Bumi Discount: 7% Expected Date of Completion: 2014 Developer: Sterling Housing Development Sdn Bhd Phone: (603) 7955 6988 Fax: (603) 7958 4688 Website: www.sterlingvillas.com.my Project Name: The Park @ Bukit Serdang Location: Selangor Property Type: Semi-detached House Tenure: Freehold Land Area: 40’ X 80’ Build Up: 4,520 sq ft – 5,008 sq ft Developer: Nurani Gemilang Sdn Bhd (653966-W) Exclusive Marketing Agent: Twins Realty Phone: (603) 4022 5168 H/P: (6016) 213 2163 Website: www.binastra.com.my Project Name: The Rafflesia @ Park Location: Damansara Perdana, Selangor Property Type: Semi-detached House Land Title: Residential Land Area: 27.35 acres Build Up: 3,752 - 5,131 sq ft Listing Price: From RM2,553,315 - RM4,444,000 Total Units/Lots: 50 Bumi Discount: 7% Expected Date of Completion: June 2014 Developer: Saujana Triangle Sdn Bhd (339170-W) Phone: (603) 7729 1133 Fax: (603) 7710 2558 3 Storey Semi- Detached Home Website: www.mkland.com.my Project Name: First Village of Gold Coast Morib Resort Location: Pantai Morib, Banting, Selangor Property Type: Timber and Modern Bungalow Land Title: Residential Tenure: Freehold Listing Price: From RM488,888 Price per sq ft: RM88 Total Units/Lots: 158 Expected Date of Completion: 2015 Developer: STG Group of Company Phone: (6010) 948 9965 / (6016) 2070 983 Fax: (603) 3323 3188 NC 23 68 N C2 01 0 N C2 57 5 NC 25 91 110 | LATEST DEVELOPMENTS | KLANG VALLEY COMMERCIAL Project Name: Cantonment Exchange (CX) Location: Jalan Ipoh, Kuala Lumpur Property Type: Shop-Office Land Title: Commercial Tenure: Freehold Build Up: 1,507 - 14,077 sq ft Listing Price: From RM424,800 - RM8,129,800 Total Units/Lots: 192 Bumi Discount: 5% Expected Completion of Date: 2015 Developer: Aureate Construction Sdn Bhd Phone: (6016) 216 2886 Fax: (603) 4041 1879 Website: www.sbcgroup.com.my Project Name: Gravitas Biz Park Location: Shah Alam, Selangor Property Type: Factory Land Title: Industrial Tenure: Freehold Build Up: 4,900 - 5,900 sq ft Total Units/Lots: 50 Bumi Discount: 7% Expected Date of Completion: Mid of 2015 Developer: Potensi Rajawali Sdn Bhd Phone: (603) 2161 3322 / (603) 7728 2229 Fax: (603) 2161 3327 Website: wwww.oskproperty.com.my/gravitas.html Project Name: Suria Jelutong Location: Bukit Jelutong 2, Shah Alam, Selangor Property Type: Soho Land Title: Commercial Tenure: Freehold Land Area: Approximately 4.5 acres Expected Date of Completion: March of 2015 Developers: Sunsuria Hillpark Sdn Bhd (561852-T) Phone: (603) 6142 2727 / (603) 6145 7777 Fax: (603) 6142 2227 Website: www.sunsuria.com Project Name: Sazean Business Park Location: Klang, Selangor Property Type: Shop-Office Land Title: Commercial Tenure: Freehold Land Area: 22’ x 75’ Listing Price: From RM1,650,000 Expected Date of Completion: June 2013 Developer: Sazean Development Sdn Bhd Exclusive Marketing Agent: REI Group of Companies Phone: (603) 9058 6692 NC 25 66 NC 24 77 NC 24 08 NC 22 08 112 | LATEST DEVELOPMENTS | OUTSIDE KLANG VALLEY MIXTURE Project Name: Ferringhi Residence Location: Batu Ferringhi, Penang Property Type: Low-rise Condominium Land Title: Residential Tenure: Freehold Build Up: 1,510 - 1,752 sq ft Total Units/Lots: Approximate 210 units (Phase 2B) Bumi Discount: 5% Expected Date of Completion: 2016 Developer: Uptrend Housing Development Sdn Bhd (918195-D) Phone: (604) 628 8188 Fax: (604) 628 8190 Website: www.ferringhi-residence.com.my Project Name: Amber Location: Bandar Warisan Puteri, Seremban, Negeri Sembilan Property Type: Semi-detached House Land Title: Residential Tenure: Freehold Land Area: 35' x 80' Listing Price: From RM400,000 - RM644,300 Total Units/Lots: 144 Expected Date of Completion: June 2013 Developer: Seri Pajam Development Sdn Bhd (291244-M) Phone: (606) 763 8878 Fax: (606) 763 9887 Website: www.seripajam.com.my Project Name: Florenix @ Nusari Bayu 2B Location: Bandar Sri Sendayan, Seremban, Negeri Sembilan Property Type: 2-sty Terrace/Link House Land Title: Residential Tenure: Freehold Land Area: 1,400 - 4,144 sq ft Listing Price: From RM318,888 - RM723,480 Total Units/Lots: 80 Bumi Discount: 5% Expected Date of Completion: May 2014 Developer: BSS Development Sdn Bhd (689638-X) Phone: (6016) 733 2320 Fax: (606) 764 6288 Website: www.1sendayan.com Project Name: Blu Summer Suites Location: Kota Kinabalu, Sabah Property Type: Sovo Land Title: Commercial Tenure: Leasehold Land Area: 1.762 acre Build Up: 401 - 581 sq ft Listing Price: From RM468,000 - RM704,000 Total Units/Lots: 420 Bumi Discount: 5% Expected Date of Completion: 3 Years From SPA Developer: Blu Waterfront Development Sdn Bhd (820788-P) Phone: (6088) 487 831 / (6012) 779 8422 Fax: (6088) 487 832 114 | CHAN AI CHENG Playing a Fair Game New property launches continue to receive a good response from the public. However, understanding the dynamics is crucial in navigating the property investment minefield. By Chan Ai Cheng Many experts had observed that Malaysiaâ€™s property market began to cool down during the second half of 2011 due to an oversupply of high-rise properties in the Kuala Lumpur city centre and Montâ€™ Kiara area. Demand for newer, high-end landed residential properties such as semi-detached and bungalow units with prices above RM1 million may also decline in 2012. This is partly due to the relatively low rental yield, which does not justify the monthly loan repayments. The smaller units within a high-rise development, such as the SOHO type units, studio units, 1-bedroom and 2-bedroom units, generally command a stronger interest. However, this depends on the location, price and packaging. Commercial vs Residential Lately, we have seen more demand for commercial properties as the financing for commercial properties is at 80% LTV, compared to 70% LTV for third residential loans. In essence, commercial properties have always been the preferred choice amongst seasoned property investors. Generally, most commercial properties yield higher rates of return in terms of the rental income compared to residential properties. The yield is calculated based on the yearly rent divided by the purchase price of the property. These properties require minimal care and management as the tenant will look after most matters. A tenant for a commercial property is different to that of a residential property. Commercial property tenants are renting with a view to operate their business at the property itself. It is much easier to retain tenants of commercial properties as business owners dislike moving their operation as this inevitably affects their business and customers negatively. This being the case, rental reviews are also easier with commercial properties. Conducive Environment It is quite easy to purchase property nowadays as many property developers are offering the Developer Interest Bearing Scheme (DIBS), which buys some time for homebuyers while the property is still under construction. iProperty.com malaysia | 115 Currently, 60% of the population is below 30 years old. As such, the low interest rate 3% will sustain demand for properties below RM500,000 by this generation for this year. However, properties priced above RM500,000 are beyond the affordability of most Malaysians. Property investors may also consider changing from a capital gain strategy to a cash flow strategy, i.e. from buy-and-sell to buy-andhold for rental income. Things to consider Besides the basic requirements, such as good location, product quality and developerâ€™s reputation, one should also consider nearby facilities, infrastructure and accessibility. These are the factors that will increase the value of a property. It is vital for first time buyers to conduct research on the surrounding areas. You would need to assess the type of public transportation that will be developed. One way to do this is to log on to www.kvmrt.my to check where the train stations would be located. If you want a property that will achieve a good capital gain, look at its environment and future development potential. At this point, the MRT (Mass Rapid Transit) plan is one of the key factors that most investors will look into before purchasing a property. This is because properties close to the MRT stations can expect better appreciation once the station is built. The property could be a good buy if there is infrastructure development to support the public transportation system within one to two kilometres of your preferred residential project. Concern on economy overblown The current economic situation is a hot topic right now. However, avid property investors know that properties located in good location that are fairly priced will always appreciate in value. Property is a hedge against inflation after all. Investors can choose to reduce or sell their properties that have appreciated in value, or get rid of no income properties or low income yield residential properties, such as vacant land, bungalow lots, superlink, semidetached and bungalow homes. What is the effect of the tightening credit rules to the property market? Well, the 70% LTV has had an effect on upmarket properties in the initial period when the measure first took effect. Now banks are offering various packages that have helped to relieve the burden of a 30% cash outlay towards a purchase. Buy, sell or hold? One major question on everybodyâ€™s mind today is whether now is a good time to hold onto their properties, sell them or continue to invest if they can afford it? If you can afford to hold on to your properties, then do so â€“ rent them out for cash flow returns. When the lock-in period for your loan is up, you can consider refinancing the property to get more cash for investment or simply sell it and enjoy your profit. Those who are prepared to hold do not need to worry too much about the ups and downs of the property cycle as the market will certainly pick up after every downturn. Buying into an established and prestigious location cannot go wrong as prices will hold better during a downturn. Property value in good locations will usually recover faster when the market picks up again. The fact is one can never predict when the property market will hit the very bottom or touch the peak. Chan Ai Cheng General Manager, S. K. Brothers Realty (M) Sdn Bhd Registered Estate Agent with the Board of Valuers, Appraisers and Estate Agents Malaysia Certified Residential Specialist, NAR USA Certified International Property Specialist, NAR USA Registered Financial Consultant, IARFC For feedback on this article or any other comments, please email firstname.lastname@example.org 116 | Taxation by PwC Accelerating Sabah’s Economic Growth The Sabah Development Corridor (SDC) initiative was first introduced to drive the economic growth in Sabah. The effort is starting to pay off as investments worth billions of ringgit are now pouring into the state. We take a look at some of the direct and indirect tax incentives by the SDC to keep these investors coming back for more. Sabah is renowned for its beautiful beaches, majestic mountains, lush jungles, national parks, exotic wildlife and rich cultural diversity. However, the state holds so much more untapped potential. Under the Sabah Development Corridor (SDC) initiative, it is set to be transformed into a leading gateway for trade, investment and tourism. Launched on 29 January 2008 with the theme Harnessing Unity in Diversity for Wealth Creation and Social Well-Being, the SDC aims to triple Sabah’s Gross Domestic Product (GDP) per capita and create 900,000 new jobs by 2025. The SDC covers the entire state of Sabah and is divided into five development areas: • Brunei Bay Integrated Development Zone in the west • Kinabalu Gold Coast Enclave in the north-west • Sandakan-Kinabatangan-Beluran Bio-Triangle in east and central Sabah development. The key sectors as well as the sector specific visions are: • Agriculture – to be highly productive, selfsufficient, sustainable and safe • Services – to be a premier eco-tourism destination and to promote Sabah as a second home, while maintaining the low cost of doing business • Manufacturing – to promote high value economic activities and services, and to develop a successful pool of small and medium entrepreneurs The key industries in these sectors that are the focus of the SDC programmes comprise tourism, oil & gas, oil palm, fisheries and aquaculture, livestock, crops, logistics and transportation, and resourced based industries. These industries are given priority in market planning, investment promotion and development in order to boost the development of the SDC. Flagship Projects - Cornerstones for Development • Agro-Marine Belt in the south-east • Interior Food Valley in the inner west of the state The task of implementing the SDC initiative is entrusted to the Sabah Economic Development and Investment Authority (SEDIA). SEDIA is a one-stop authority which is responsible for planning, coordinating, promoting, accelerating and monitoring the development of and investments into SDC. A Focus on Key Industries In its plans to develop Sabah as a leading destination for trade, investment and tourism, the SDC has identified three specific key sectors for At the time of its launch, the SDC had already received a major boost with the signing of 13 agreements and MoUs worth RM16 billion. Four years on, as at June 2012, the SDC has secured, planned and committed investments worth RM112 billion. These investments - from both domestic and foreign investors - are predominantly in the oil and gas, palm oil, fisheries, livestock and tourism industries. There are already several flagship projects in the SDC. These include: • The Lahad Datu and Sandakan Palm Oil Industrial Cluster • The Sandakan Education Hub iProperty.com malaysia | 117 • Keningau Integrated Livestock Centre (KILC) • Sabah Agro-Industrial Precinct • Marine Industry Cluster • Agropolitan Project Among the foreign investors which SDC has attracted is Annam Corporation, a subsidiary of the Brunei Investment Agency, which has agreed to take up an equity stake in KILC. Other projects that entered into a partnership with the private sector are the Tawau Geothermal Power Plant, Sipadan Mangrove Resort, Sabah International Convention Centre, International Technology and Convention Centre, Integrated Development of Gleneagles Medical Centre and the Dalit Bay Integrated Tourism Resort. Other than Corals and Reefs In attracting investors to the SDC, various direct and indirect tax incentives are offered to a wide range of activities within the agriculture, manufacturing and services (including tourism, logistics, creative industries) sectors. The direct tax incentives include the following: • pioneer status or income tax exemption of up to 100% of statutory income (taxable income net of allowable deductions and capital allowances on fixed assets) granted for a period of five years. For certain strategic projects, a 10-year incentive period is allowed. The indirect tax incentives include the exemption of import duty and/or sales tax on raw materials, components and equipment used in the projects or manufacturing process. Apart from the above general incentives, investors in SDC may also obtain customised incentives from SEDIA. On the Path to Transformation • investment tax allowance of up to 100% of capital expenditure incurred which can be set off against 100% of statutory income • double tax deduction for certain expenditure incurred; e.g. freight charges With the SDC projects aligned to the Government Transformation Programme and Economic Transformation Programme, the SDC initiative will be instrumental in transforming Sabah into a leading destination for trade, investment and tourism. The pioneer status/income tax exemption and investment tax allowance incentives are generally Article contributed by Phan Wai Kuan, Executive Director with Pricewaterhouse Coopers Taxation Services Sdn Bhd. She has over 20 years’ experience in taxation matters in New Zealand, Australia and Malaysia. Her experience in Malaysia includes advising clients on direct tax matters in the financial services, property development, manufacturing sectors as well as cross border investments. She can be contacted at email@example.com. 118 | MIPIM Asia 2012 MIPIM Asia 2012 Attended by more than 1,900 participants from 42 countries, the success of MIPIM Asia’s sixth edition last year confirmed the dynamism of the Asian property market. Find out what is in store at MIPIM Asia 2012. MIPIM Asia, the leading annual property rendezvous in the Asia Pacific region, is back with a bang. This year’s event will take place at the Hong Kong Convention and Exhibition Centre from 7-9 November. featuring a Building Innovation Pavilion to provide further insights into energy-efficient construction. Launched in Hong Kong in 2006 to serve high-level real estate professionals, MIPIM Asia is the Asia Pacific version of Reed MIDEM’s highly successful MIPIM property exhibition and conference event. The MIPIM Asia Awards are the most prestigious recognition for outstanding developments in the Asia Pacific region. For the past five years, the awards have rewarded projects for their innovative, technical, environmental and architectural qualities. The MIPIM Asia Awards The 2012 edition MIPIM Asia 2012 will provide professionals from the industry with a unique insight into the Asia Pacific market, with a comprehensive programme of worldclass conferences delivered by a diverse line-up of high-profile speakers, and an exceptional showcase of development projects from the region. The 7th edition introduces a new and unique format, featuring two new summits on Investment and Retail, and covering about 5,500m2 of exhibition space, conference rooms and networking areas. The new Building Innovation Pavilion will present examples of energy efficient architecture and construction, while the Retail Village will display an innovative platform to explore concept stores and retail business. • MIPIM Asia Retail Summit The emerging presence of retailers reflected Asia Pacific’s potential for retail expansion and the attractiveness of retail real estate. Within that framework, the MIPIM Asia 2012 edition offers a new positioning, with the launch of a Retail Summit, a quality programme which aims to bring together a vast range of international retailers and to highlight the newest and most innovative retail opportunities in Asia. • Sustainable Property Expo While price remains a key element in decision-making, investors are increasingly factoring in the quality of design and sustainable elements. These will be displayed on MIPIM Asia’s Sustainable Property Expo, On 27 July, the jury will meet in Hong Kong to examine the 130 projects from 15 countries that entered this year’s awards, and select 3 winners in 11 distinct categories. MIPIM Asia delegates will get to vote on site at the Awards gallery for their favourite project in each category. Their vote will be combined with the jury’s vote, each group making up 50% of the final decision. The final results will determine the ranking of each category winners. New this year, the 33 winners will be submitted to a pre-MIPIM Asia online vote open to the public who will choose the winner of Your Choice Award. All winners will receive ultimate recognition during the prestigious Awards Gala dinner at the Grand Hyatt Hotel in Hong Kong on 8 November. Networking at MIPIM Asia MIPIM Asia 2012 presents an opportunity for international investors, corporate end-users, hotel groups and retailers to meet with real estate developers, property owners, government representatives, and local and regional authorities. Participants will be offered an extensive schedule of thematic networking and matchmaking events, with tailored formats and targeted sessions, to make business connections and foster deals. For more information on MIPIM Asia 2012, please visit www.mipimasia.com FEATURED AGENCIES’ DIRECTORY GS Realty Sdn Bhd Kim Realty The Time Realty E(1)1307 E(3)0211 E(3)1124 GS REALTY, formerly known as YL REALTY, has been established since 1999 as a real-estate specialist. Our principle practice was begun in 1986 and we specialize in project marketing besides our core business. With our strategic experience and well-informed as well as intelligent sales team, our brilliant marketing strategies for new project developments in the Malaysian and international markets have been very well received. KIM REALTY established in 1980 offers a complete range of Real Estate Agency, Project Marketing and Auctioned Property Marketing services with 4 branches in Klang Valley, with more than 100 well-trained and qualified negotiators, project marketing executives and division managers dedicated to serve our clients and meet their specific needs for the last 30 years with the motto, ‘Service You Deserve From Professionals You Can Trust’. Today, GS REALTY is renowned as one of the largest real estate firms in Malaysia, winning multiple awards, such as the ASIA PACIFIC EXCELLENCE BRAND 2011 and we have co-organised one of the biggest Real Estate Conference in Malaysia, the ‘National Conference – Wealth from Real Estate Investment in Asia’ (2010) and ‘Wealth from Real Estate Investment in Asia’ (2011). Join us and create a prosperous and successful future for yourself! Contact us for further information and the next step in your career. Tel: (603) 9222 5796 / (603) 9222 5797 Fax: (603) 9222 5791 Web: www.gsrealty.my Email: firstname.lastname@example.org Prosper Realty E(3)1092 Founded in 2005, Prosper Realty is an established real estate agency with a unique combination of knowledge and entrepreneurial flair. Through strategic partnerships with reputable developers and financial institutions, we are proud to be recognized as providers of high quality commercial and residential property, simultaneously offering clients plenty of successful opportunities in investments; selling or buying and leasing of properties. We also have a dedicated team specializing in Project & Property Management; Property Development & Investment Consultancy; Sub-sales & Auction Sales as well as Property Auctioneers. Take full charge of your career now! Join us and together we will make the most rewarding professional experience ever!! Kota Damansara Tel: (603) 6156 3366 | Fax: (603) 6156 3399 Mont Kiara Tel: (603) 6207 8222 Fax: (603) 6207 8111 Web: www.prosper.my We have a dedicated team to handle expatriate and local sale and rental of properties, commercial and industrial properties, investment and corporate real estate, agricultural, industrial and development land advisory services. To join us as Real Estate Negotiator, please call us for a challenging & rewarding career! Tel: (6019) 336 0899 | (603) 7729 9988 Fax: (603) 7727 9366 Email: email@example.com Web: www.kimrealty.com.my Well Properties E(3)0594 Registered and incorporated with the Board of Valuers, Appraisers and Estate Agents in June 1986, WELL Properties has been a well of real-estate knowledge and expertise with its dynamic and innovative approach to realty ever since. Plumbing its depth of experience in the Klang Valley and Selangor markets, WELL Properties provides sales and leasing services for commercial, industrial, retail, residential and land properties. Their suite of first-class services will make your first encounter the start of a beautiful lifelong partnership. Tel: (603) 9076 7177 Fax: (603) 9076 9177 Email: firstname.lastname@example.org Web: www.wellproperties.com.my THE TIME REALTY is a registered real estate company providing real estate service, primarily engaging in sales and rental for all types of property (commercial and residential properties) more than 25 years in Malaysia. THE TIME REALTY prides on its comprehensive property listing database which able to provide accurate property information and professional advices to our NEGOTIATORS and CLIENTS. Our current project is over 3000 units of new mixed residential and commercial properties in Kuala Lumpur and Selangor area. In accordance to our ongoing expansion programme, we seek dynamic, independent and highly motivated candidates who share our passion amongst others. We never failed on ensuring productivity and profitability for our negotiators, we enjoy success and we want to share it with YOU. Come join us now! Tel: (603) 8943 2448 Fax: (603) 8943 2446 Email: email@example.com Harta Putri E(3)0628 Registered in 2006, Harta Putri truly brings out property as an investor’s crown jewel through its comprehensive services in Marketing and Letting of Residential and Commercial Properties in the Klang Valley and its surrounds. Helmed by Pn. Rusnani Ab. Rahman, who is armed with a Bachelor of Estate Management (UITM) and is a licenced Agent, Harta Putri is made up of experienced Senior Negotiators with through depth of experience in the respective areas they specialise in. Tel: (603) 4108 3217 Fax: (603) 4108 3211 Email: firstname.lastname@example.org Magazine at your doorstep Cover-First Village August_FA.pdf 1 7/20/12 4:43 PM Start my subscription now! Occupation MAILING Address PostCode C M State Y iPROPERTY.COM MALAYSIAâ€™S NO.1 PROPERTY & REAL ESTATE WEBSITE Name (Mr/Mrs/Ms/Dr) First Village of Gold Coast Morib A hidden paradise within the Klang Valley BORNEO: THE SABAH EPISODE What can the East Malaysian state offer? CM MY Email THE NATIONAL HOUSE BUYERS ASSOCIATION ON: CY CMY H/P How can the HDA be made more effective? AUGUST 2012 KDN PP 13368/04/2013(032224) All you need to do is fill up the details above to subscribe at the all-inclusive rate stated herein. Or, you may subscribe online by going to our website at www.iproperty.com.my/ magazine/paysubscribe.aspx, fill up your details and pay with your cheque/postal order no and fax in your banking slip to (603) 2264 6999. 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If you would like to cancel your subscription, a charge equivalent to 50% of the unfulfilled subscription will be levied. 128 | LAUNCH PAD Rawang: Roaring to Life In the past, few travellers would consider making a stop in Rawang to explore the small town. Steeped in history, this sleepy hollow, which means ‘marsh’ in Malay, was once a two-road settlement. Today, the town is completely transformed. Divided into New Town (Bandar Baru Rawang) and Old Town, Rawang offers several interesting diversions. Hordes of Klang Valley folks flock to the town on weekends for its cheap car repair workshops and economical eateries. More importantly, Rawang is currently experiencing steep development with many new shops and houses being constructed. Some of the major townships in Rawang include Bandar Tasik Puteri, Bandar Country Homes, Kota Emerald, Rawang Perdana and Saujana Rawang. A number of shopping centres have sprung up in Rawang, including Tesco, Parkson, Giant and AEON Jusco, which opened in December last year. The twostorey mall near Kota Emerald, measuring 519,670sqft, has close to 1,500 parking bays and would be serving over 700,000 residents in the area. Even the manufacturing sector is getting in on the act. Perusahaan Otomobil Kedua Sdn Bhd (Perodua) will be investing RM160 million to upgrade its plant in Rawang, according to its managing director Datuk Aminar Rashid Salleh. The company's plant, which was currently running at 205,000 including manufacturing for the export market, has an annual production capacity of 250,000. Rawang will see yet another new development taking shape in the form of the Emerald Gardens superlink homes. Developed by GuocoLand (Malaysia) Bhd, these two and 2½-storey superlink homes in Emerald Rawang will certainly benefit from the newly opened international school SJK(C) Kota Emerald School. Besides these proposed developments, other public amenities such as proper road and transportation are being planned as well. With all these facilities, Rawang will definitely be in demand for those who intend to move to this corner of Selangor.