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EDITORIAL Editor Chang Yan Yi Writer Yogeetha H. Jeevan Sheetal Walia


DESIGN Senior Graphic Designer Irene Lim


Graphic Designer Jason Kwong

From late November last year, many of you participated in the Asia Property Market Sentiment Survey 2012, which was conducted not just in Malaysia, but across our other leading property portals in Indonesia (Rumah123. com and, Hong Kong ( hk) and Singapore (

Magazine Co-ordinator Sarah Samad

I am pleased to say that the one month plus survey gathered 8,499 respondents, with a total of 3,459 respondents from Malaysia.


The findings revealed that despite the worldwide economic uncertainty, a majority of respondents viewed the property market to be fairly positive. On the Malaysian front, respondents showed that while they were wary of a possible bubble, they still remain upbeat.


Further details of these findings are featured in the iProperty Insider section of this magazine.

DISPLAY ADVERTISING Head of Display Sales Lily Kong

AGENT ADVERTISING Agent Sales Manager Leon Kong

Consumer Communications Manager Foo Chia Chern

Customer Product Manager Franz Narcis Customer Communications Manager Angela Sargunan MANAGEMENT

I would also like to take this opportunity to thank all who had participated in the survey that had served as a bellwether for us to gauge the opinions of what consumers in the region thought about the property market in 2012.

Chief Executive Officer Shaun Di Gregorio


Manager Business Operations Loh-Lim Shen Yi

Country Manager – Malaysia Timothy Hor 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: Editorial Matters: General enquiries: Subscription:

Shaun Di Gregorio Chief Executive Officer The iProperty Group Magazine is published monthly by 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’s views. Unless otherwise noted, all artwork and ad designs printed in Magazine are the sole property of 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 MMS-Media Marketing Services Sdn Bhd


RICS President is named as construction industry’s “Prominent Player of the Year” RICS (Royal Institution of Chartered Surveyors) Global President See-Lian Ong received the highest and prestigious accolade from the Malaysian construction industry and was named the ‘Prominent Player of the Year’ at the Malaysian Construction Industry Excellent Awards (MCIEA) 2011. The Awards are organised annually by the Construction Industry Development Board (CIDB), which is a statutory body under the Ministry of Works, Malaysia, to recognise the achievement of individuals and organisations who have excelled in the construction industry. Mr Ong was nominated for his continuous contribution to the construction industry for the last 35 years and his active involvement and participation in the national level construction industry committees. The winners announcement and awards presentation was held at MCIEA Ceremony yesterday at Kuala Lumpur Convention Center, Kuala Lumpur, Malaysia. The Honorable Deputy Prime Minister of Malaysia Tan Sri Dato’ Haji Muhyiddin Yassin presented the winners with their certificates and trophies at the Ceremony. After receiving the Award, Mr Ong commented, “The MCIEA Awards recognise the commitment and achievements of individuals and companies to championing the development of the construction industry in Malaysia. I am humbled and honoured to receive this accolade and trust it will continue to encourage

more professionals to work hard to raise the standard of professionalism and excellence in the construction and built environment industry not only in Malaysia but also at the global level.”

Home Financing Scheme Still Not Popular Among Estate Workers – Subramaniam Melaka, Feb 16 - Estate workers have not fully made use of the home financing scheme to own a house although it was introduced last year, said Human Resources Minister Datuk Seri Dr S. Subramaniam. He said the scheme which offered loans of up to a maximum of RM60,000 at four per cent interest was still not so popular among estate workers since a RM50 million fund for the purpose was announced by Prime Minister Datuk Seri Najib Tun Razak when he tabled the 2011 Budget. "While still working, they can stay at the estate

quarters but when they retire later, where will they stay?" he said after attending the MyDaftar identification document presentation ceremony, here, today which was officiated by Chief Minister Datuk Seri Mohd Ali Rustam. Dr Subramaniam said 63 document applications through the MyDaftar campaign in Melaka had been approved involving 44 citizenship applications, birth certificates (16) and identity cards (three). He said his ministry received 174 applications from Melaka but 50 applicants failed to fill the forms correctly. - Bernama


Potential short term cost savings for occupiers in Asia Pacific under euro-zone break up scenario London - DTZ’s ‘Global Occupancy Costs - Offices’ survey reveals that average occupancy costs per workstation per annum in Asia Pacific in 2011 increased by 3.4% in contrast to the global average increase of just 0.3%. DTZ’s survey assesses the main components of occupancy costs in 124 business districts in 49 countries across the globe, ranking each location based on annual costs per workstation. It includes rents and outgoings, such as maintenance costs and property tax, and takes into account variability of space utilisation standards by measuring costs on a per workstation basis rather than just per square metre. The relatively moderate average increase in office costs witnessed across Asia Pacific during 2011 hides significant disparity across the region, with some occupiers benefiting from cost savings and others being hit by strong increases. Of the 38 Asia Pacific markets, 10 offered occupiers either static or falling occupancy costs per workstation in 2011. Occupiers in Chengdu saw the greatest savings as total costs per workstation per annum dropped 24% year-on-year (y-o-y). This was due to improved space efficiency and not falling costs. Tier II cities in India and China continued to dominate the list of top 10 least expensive markets globally, but Surabaya in Indonesia remained the cheapest location, at US$1,680, despite a 7% increase in costs y-o-y. Declines were also registered in Auckland, Wellington, Ho Chi Minh City and Tokyo, although it is likely that these markets have now reached the bottom of the cycle. In contrast, Hong Kong at US$25,160 remains the most expensive location in the world, ahead of London and Geneva. Kate Barrow, Associate Director, DTZ Forecasting and Strategy Research and co-author of the report said: “Tier II markets in India and China continue to offer occupiers significant savings. These locations are being transformed by the injection of good quality grade A space to the market, providing tenants with more choice at relatively low cost compared to elsewhere in the region.” In contrast to the mixed picture across Asia Pacific, corporate occupiers in all but one of the Greater China markets experienced rising occupancy costs per workstation in 2011, with average costs increasing by 10% y-o-y. The markets were influenced by strong demand and rising

rents throughout 2011, with cash-rich domestic companies, eager to associate their brands with trophy office buildings, accounting for a significant amount of leasing activity. The highest increase in costs was seen in Beijing CBD, at 38% y-o-y to US$8,830, driven by aggressive rent rises by landlords on the back of limited supply. Karine Woodford, Head of Occupier Research at DTZ, commented: “Across the Asia Pacific region we have witnessed a move towards greater space efficiency. Since the start of the global financial crisis, the adoption of better space utilisation as a means to reduce overheads has been increasingly evident. The average space per workstation now stands at 13 sq m, down from 14 sq m last year.” Looking forward, global occupancy costs are expected to increase to 2016, with Asia Pacific to experience the highest level of growth. Beijing emerges as the biggest mover over the next five years, shifting 13 places to enter the top 25 most expensive markets globally by 2016. Despite expectations of falling costs in 2012, Hong Kong is forecast to remain the most expensive office location in the region in 2016, although the gap between it and Tokyo is narrowing. However, Asia will also continue to offer occupiers the least expensive markets globally, with secondary markets in China and India still expected to dominate the top ten lowest cost markets in 2016. Karine Woodford continued: “Singapore, Bangkok and Kuala Lumpur will offer occupiers the lowest growth in costs over the next five years. Limited growth in occupancy costs in Singapore will be driven by negative rental growth in 2012 and 2013 on the back of weakening sentiment combined with large new supply. The short term impact of this on Asia Pacific rents is more significant than Europe, reflecting their greater volatility and export dependency environment. However, our analysis shows that this is only a temporary decline as strong momentum in Asia Pacific economic growth will spur a strong rebound in rents after 2013. 2012 could therefore offer a window of opportunity for occupiers to renegotiate their leases. malaysia | 13

Sunway REIT Declared Record High Quarterly Distribution in Second Quarter Financial Year Kuala Lumpur, Feb 9 – Sunway REIT Management Sdn. Bhd., the manager of Sunway Real Estate Investment Trust (“Sunway REIT”), is pleased to announce the second quarter unaudited financial results for financial year ending June 2012 for the period of 1 October 2011 to 31 December 2011 (“2Q 2012”). The manager wishes to announce a distribution income of RM53.6 million in 2Q 2012, representing an increase of 14.1% compared to the corresponding quarter in the preceeding year. This translates into a record high in quarterly distribution per unit (“DPU”) of 1.99 sen. On a year-on-year basis, DPU rose 13.7% in 2Q 2012 from 1.75 sen declared for the period 1 October 2010 to 31 December 2010 (“2Q 2011”). For the financial quarter under review, Sunway REIT’s net property income (“NPI”) soared 25.3% yearon-year to RM78.7 million underpinned by strong performance from initial portfolio and full income recognition from Sunway Putra Place following the full control and possession of the assets on

28 September 2011. NPI for the initial portfolio of 8 assets grew by 9.6% year-on-year in 2Q 2012 to RM68.9 million while Sunway Putra Place contributed RM9.8 million in the same period. Net realized income jumped 13.4% in 2Q 2012 to RM50.7 million, from RM44.7 million in 2Q 2011. The initial portfolio of 8 assets recorded an increase of RM3.5 million while the balance was contributed by Sunway Putra Place. Sunway Putra Place has turnaround from a loss of RM1.8 million in 1Q 2012 to a positive RM2.6 million contribution in 2Q 2012. Sunway Hotel Seberang Jaya has embarked on a major refurbishment exercise to re-strengthen the market position of a 4-star rated city hotel in mainland of Penang and appeal to high yield market segment and business travellers. The refurbishment exercise is estimated to cost RM12.1 million with an estimated ROI of 10.5%. The renovation will be carried out progressively and will be completed by December 2012.

Naim Indah Major Shareholder sells all 22.8% Stake Kuala Lumpur, Feb 8 - NAIM INDAH CORPORATION BHD's major shareholder Crest Energy Sdn.Bhd had disposed of all its 22.80% stake comprising of 160.06 million shares in the company. Naim Indah said on Wednesday that crest Energy had disposed of a 12.11% or 85 million shares to Datuk Raymond Chan Boon Siew and 3.99% or 28 million shares to Ng Kian Huat. The Remaining shares comprising of 0.98% or 6.86 million shares were sold to Krishna Bhatt@Achong and 0.88% or 6.20 million shares to Chong Kok Loong.

14 | NEWS | Property Market Updates

Somerset Puteri Harbour Serviced Residences Sees Remarkable Uptake At KL Launch Kuala Lumpur, Feb 17 – Somerset Puteri Harbour Serviced Residences, a low-rise five and sixstorey serviced apartment at the Puteri Harbour waterfront in Iskandar, Malaysia was unveiled by developer, UMLand yesterday in KL. Of the total 168 units, only 132 units were available at the launch with a take-up rate of over 90% as of press time. UMLand’s flagship project in the Nusajaya region was first launched in Singapore for two consecutive weekends that saw 120 units unveiled then completely sold out. “We had to hold some units for our KL launch as we wanted to present the Malaysian market with this unique investment opportunity,” mentioned Director of Operations, En. Zulkifly Garib, during a short interview session with the press during the launch. The project by Nusajaya Consolidated Sdn. Bhd., a joint-venture company with UEMLand, is set to be managed by the Ascott Limited, an internationally distinguished service apartment operator and member of CapitaLand under a pre-arranged 10-year leaseback agreement. Out of the total 168 units, the first launch of 132 units will come under this leaseback scheme with the remainder 36 harbour-front units having the option of joining this scheme under similar terms should the investors be interested. With a GDV for the entire development set at RM180 million, these 132 units come with a guaranteed 5% interest income for the first two years with the rate of return for the remainder

of the tenure to be decided by market forces. In addition, the developer is offering DIBS for the first two years until the projected handover of keys due before Q4 of 2013. Investors are offered a choice of 15 standard layouts ranging from 1 bedroom units all the way to 3 bedroom units and penthouses with built-up sizes coming from a cosy 764 sq ft to 1,496 sq ft and 3,650 sq ft for penthouse units. The average price of the investment was set at RM 830 psf and the entrance price for the project at RM720,000 with a ceiling price of RM4.5 million. The two blocks are separated by a 60 feet alfresco boulevard, which is part of a street mall that will join the adjacent 286-room Traders Hotel and culminate in the RM350 million fourstorey Puteri Harbour Family Indoor Theme Park featuring family-friendly entertainment. The serviced apartments are situated above a 2-storey retail podium, which will feature boutique retailers, convenience stores, cafŽs and alfresco dining options. With the current Nusajaya-facing units all nearly sold out, the focus shifts to the balance 36 harbour-front units which are tipped to be launched some time at the end of the year. Ultimately, Somerset Puteri Harbour is developed for occupation and it is hoped that this flagship development that is led and managed by UMLand will increase the familiarity with the area once all of the other amenities come into operations at the end of this year. malaysia | 15

Sime Darby Property Bags Two Coveted Awards Kuala Lumpur, Feb 2 – Sime Darby Property Berhad started the Year of Dragon on a bright note when it received two awards for its outstanding achievements in the property development sector in Malaysia and the Southeast Asian region. The Company emerged as one of the winners of the BCI Asia Awards 2012 – Top 10 Developers Awards, a much-coveted award that recognises the achievements of top regional property developers that have made the greatest impact on the built environment in Southeast Asia. This is the second consecutive year that Sime Darby Property has been a recipient of the BCI Asia Awards 2011.

The award covers Malaysia, Hong Kong SAR, Indonesia, the Philippines, Singapore, Thailand and Vietnam. The Company received this award for its Bukit Jelutong township, due to its excellent performance in several key areas including commitment and involvement of top management, assessment and management of environmental issues, provision of environment related training, and commitment to environmental social responsibility activities. As the largest property developer in Malaysia, Sime Darby Property currently has 32,000 acres of landbank, and has built 10 townships with 80,000 families and over 400,000 residents. This is expected to grow in future.

A Scenic Evening with BOLTON and Surin Penang, Feb 23 - BOLTON Berhad (BOLTON), one of Malaysia’s oldest and most established property development companies, unveiled the first completed tower block of Surin, its maiden property development project in Penang. The guests were taken for a tour of Surin and the highlight of the evening was where they were treated to a spectacular unobstructed view of the sea and its horizon. The twoblock 28-storey luxury condominium offers a total of 390 condominium units with build-up sizes measuring from 1,307 sq ft to 2,827 sq ft. BOLTON has successfully sold more than 95% of the project when it was first launched in 2008. Residents of Surin will be able to enjoy amenities such as infinity swimming pool, rooftop garden, two covered car park bays per unit, 3 tier security, barbeque area and sky decks. For more information about Surin at BOLTON’s Sales Gallery located at 98-G-13A, Prima Tanjong Business Centre, Jalan Fettes, Tanjong Tokong, 11200 Penang. Call +604-891 2020 for further enquiries.

Berjaya Assets Acquires Properties In Johor For RM385 Mln Kuala Lumpur, Feb 10 (Bernama) Berjaya Assets Bhd says the offer by its wholly-owned subsidiary, Pesaka Ikhlas (M) Sdn Bhd (PISB), to acquire properties in Stulang Laut, Johor, from three companies for a total RM385 million has been accepted. The properties comprise a vacant land from Atlan Technology Sdn Bhd (ATSB) for RM32.01 million, a vacant land from Kelana Megah Sdn Bhd (KMSB) for RM27.99 million and a property known as "The Zon Johor Bahru" from Darul Metro Sdn Bhd (DMSB) for RM325 million. Berjaya Assets said this in a filing with Bursa Malaysia today. ATSB is a 100 per cent-owned subsidiary of Atlan Holdings Bhd while KMSB and DMSB are 100 per cent-owned subsidiaries of Duty Free International Limited (DFIL). DFIL in turn is an 81.15 per cent-owned subsidiary of Atlan Holdings. -BERNAMA

16 | NEWS | Property Market Updates

S P Setia launches maiden project in Sabah

state transportation system is important, especially if they want to see significant growth in the state tourism sector.

Kota Kinabalu, Feb 27 - S P Setia Bhd made a foothold in Sabah with the launch of its RM1.6 billion Aeropod in Tanjung Aru, Kota Kinabalu. The 60-acre mixed development — which comprises retail offices, SoVos, F & B pods, a shopping mall, hotels and serviced apartments — is poised to become the transportation hub of Kota Kinabalu with the redevelopment and modernisation of the historic Tanjung Aru railway station. Aeropod is S P Setia's maiden project in East Malaysia.

In recent years, Sabah has seen increasing economic growth and development due to its robust tourism industry and expanding population, which is estimated at over 3.2 million in 2011. In November 2011, Petroliam Nasional Bhd (Petronas) announced the discovery of oil about 100km off the coast of Kota Kinabalu.

Aeropod is modeled after the developer's successful SetiaWalk development in Puchong, and is conceptualised along its development's philosophy of LiveLearnWalkPlay. The development is one of the first projects parked under the Sabah Development Corridor (SDC). Launched in 2008, SDC is aimed at transforming Sabah into a gateway for trade, tourism and investment, and to create job opportunities. The Chief Minister of Sabah Datuk Seri Panglima Musa Aman, who officiated the launch, said during the press conference that the improvement of the

The first phase of the development — the en bloc 8-storey retail offices (4-storey— have sold almost 100% since its preview in January. Each retail office block has an average size of 12,000 sq ft, and prices start at RM8.8 million. Next to be launched in mid-2012 are the SoVo and retail units. The SoVo units are sized between 315 sq ft and 1,220 sq ft, while the retail units start from 985 sq ft to 1,830 sq ft. Liew is confident S P Setia's products will be very well received by the commerciallysavvy East Malaysian property investors. "For investors looking to capitalise on Sabah's rising economic potential to families planning for an enjoyable outing, Aeropod will have something to offer everyone," concluded Liew.

Magna Prima’s 10-Year Regional Vision Launched With Maiden Australian Project, ‘THE ISTANA’ Kuala Lumpur - Property developer, Magna Prima Berhad, officially announced its first step into the regional market with the launch of its maiden overseas project, ‘The Istana’, in Melbourne, Australia. ‘The Istana’, a 25-storey single tower residential apartment in Melbourne, Australia is situated on A’Beckett Street, a prime address in the heart of Melbourne’s Central Business District. Malaysian Pop Queen, YBhg Dato’ Siti Nurhaliza, graced the palatial event and became the first Malaysian to purchase the ‘royal address’ at The Istana, Melbourne. Speaking at the official launch of ‘The Istana’, YBhg Dato’ Rahadian Mahmud, Executive Director of Magna Prima Berhad, said, “The launch of ‘The Istana’ is highly significant as it marks Magna Prima’s foray into the regional market. In fact, this maiden regional project actually expedites our 10 year vision for a regional presence.” Magna Prima has maintained it will not deviate from its primary focus on local property development projects.

L-R: Mr Domenic Crisante, Managing Director of CK Designworks and Architect of ‘The Istana’, YBhg Dato’ Rahadian Mahmud, Executive Director of Magna Prima Berhad, Guest of Honour YBhg Dato’ Siti Nurhaliza and YBhg Dato’ Mohd. Rizal Abdullah, Executive Director of Magna Prima Berhad.

Formerly known as Dynasty Living, ‘The Istana’ spreads over more than 27,000sq ft and has 320 units comprising studio units, 2, 3 and 4 bedroom apartments and double storey penthouses. The name change was a strategic move to better reflect the character of the property and to add a touch of Malaysia. ‘The Istana’ embodies true beauty and magnificence of this haven. malaysia | 17

iProperty Group Delivers Record Results Kuala Lumpur, Feb 27 - iProperty Group Limited (ASX:IPP), the owner and operator of market leading property portals in Malaysia, Hong Kong, Indonesia and Singapore, today released its full year results with revenues of A$12.2 million up from A$7.3 million in 2010, a year on year growth of 67% over the year. During the year, Malaysia improved profitability, market positions in Hong Kong and Singapore strengthened, and the company entered the Indonesian market with the purchase of market leading There was strong growth across each country, especially the Malaysian business where revenues doubled. Malaysia - continues to be the clear leader in Malaysia. During the year it increased profitability driven by a near doubling of revenue to MYR23.4 million. The business delivered strong growth across all key metrics: The Malaysian business made great strides with the property developer market with the launch of new product initiatives and providing this market segment with more integrated digital solutions to drive their online campaigns.

to HKD9.7 million. Firmly established as the leading property portal, is using that foundation to increasingly focus on the property developer market with several leading HK and China developers now utilising to market their properties. This focus will continue in 2012. Indonesia - iProperty has established a clear leadership position in Indonesia with the acquisition of and From the point of acquisition in August 2011, the business finished the year with revenues of IDR2.1 billion (AUD0.24 million). This was supported by strong in underlying metrics with a leadership position established the Indonesia, the business will focus on building brand recognition and engagement with consumers, developing long-term relationships with the real estate agency industry, and working closely with the property developer market in what is an exciting and rapidly growing economy.

Singapore - is the equal market leader in Singapore. During the year, revenues grew by 43% to SGD4.0 million. The Singapore business has continued to build its consumer audience driven by a critical mass of agents and property listings: With the foundation of the business in place, has made strong inroads into servicing the property developer market. We see developers as a clear driver of longer term growth and will be releasing new products and services through the course of 2012 aimed at more comprehensively servicing this segment. Hong Kong - In Hong Kong, the iProperty Group operates under the brand. Through the course of 2011 established itself as the clear market leader in Hong Kong and achieved revenue growth of 35% Everywhere

Fancy a property in the Listings? Go to and enter the UP No or NC No (eg. UP123456) on the Quick Search box located on the extreme left column of our website.




alling to mind the word ‘zephyr’, which means soft, gentle breeze, Zefer Hill Residence definitely allows residents to enjoy the cool, gentle breezes of this development at the pinnacle of Puchong – both literally and figuratively.

These beautifully designed condominiums perched on a hill offer unforgettable, panoramic views of the surroundings. The residences are also located within a growing and expanding population and township. Excellent Accessibility, Convenient Locale

01 Swimming pool area 02 Gym 03 Lobby area 04 Drop-off area

Conveniently located in Puchong, the development situated almost exactly midway between Kuala Lumpur and Putrajaya, Zefer Hill Residence is also offers a good balance of the established and the upcoming with major, mature townships like Subang Jaya, UEP Subang Jaya, Bandar Sunway and Petaling Jaya and key growth areas like Seri Kembangan, Cyberjaya and Putrajaya all within its ambit. Established amenities like schools, colleges, medical centres, sports arenas as well as food and shopping centres are just minutes away from Zefer Hills Residence. The development is also well connected through an extensive web of highways such as the Damansara-Puchong Expressway (LDP), Puchong-Sungai Besi Highway, Shah Alam Expressway (KESAS), New Pantai Expressway (NPE) and the Federal Highway. malaysia | 19

03 Fantastic Facilities and Features


A myriad of special features await residents of Zefer Hill Residence as the condominiums have been designed to radiate a sense of space and the design details confirm this theme. For instance, a 6-panel sliding glass door between the living-dining area and the balcony creates a roomy feel while selected units boast of a semi-open concept for the master bathroom, adding to the overall airy atmosphere. The condominiums also come with a host of fantastic amenities in the common areas such as a Jacuzzi, swimming pool, kids playground, gym, sauna, badminton and squash courts, a surau, fibre optic facilities, nursery, laundrette and convenience store, among others. Security is assured with Zefer Hill Residence’s reliable, 3-tier security system. Eco-Friendly Haven


The eco-conscious will be pleased to note that Zefer Hill Residence incorporates green building features such as a rainwater harvesting system for gardening, as well as specially selected sanitary ware to ensure efficient water usage, and low volatile organic compound emitting materials – such as paint, adhesives and sealants – are being used for construction. Other green features and systems in place include the implementation of a responsible construction/domestic waste management system and T5 lighting for corridors.



06 Availability & Purchasing Promotion Zefer Hill Residence is a freehold development available in 9 exclusive designs with prices starting from RM546,500 onwards. Covering a total area of 5.768 acres, the built-up sizes of the 346 units are from 1,356 to 2,139 sq ft. Those keen on owning a unit at Zefer Hill Residence are in for a treat with a number of irresistible offers such as the interest subsidy scheme, an early bird discount, a bumiputera discount and a special discount. Those waiting to ride the zephyr breezes of Zefer Hill Residence

need wait no longer as the show unit is available for viewing and it is now open for registration. Zefer Hill Residence is slated for completion by April 2015. Reliable Developer Villamas is a group of companies with a central business of property construction and development and has successfully completed residential and commercial projects in Klang Valley and Melaka. Dedicated to maintaining their impressive track record of completing all projects ahead of schedule and achieving 100% sales, malaysia | 21

05 Observation deck 06 Guard house 07 Aerial view 08 Staircase

05 their previous developments include Villa Park at Seri Kembangan, Villamas Apartment at Puchong and Bukit Kepong Baru at Kepong. While their ongoing projects are Serin Residency at Cyberjaya and Atmosfera Condominium at Puchong.

Location Map

08 iProject Listing QuickPro No: NC2304 Project Name: Zefer Hill Residence City: Puchong, Selangor Property Type: Condominium Land Title: Residential Tenure: Freehold Land Area: 5.768 acres Built Up: 1,356 - 2,139 sq ft Completion Date: April 2015 (Expected) Developer: Villamas Sdn Bhd (204369-V) No. 33, Jalan SS 23/15 Taman SEA, Petaling Jaya 47400 Selangor Darul Ehsan. Tel: (6012) 538 8133 (603) 8076 7606 (Sales Gallery) (603) 7880 0033 (Villamas Sdn Bhd) Fax: (603) 8070 7033 (Sales Gallery) (603) 7804 8913 (Villamas Sdn Bhd) Website:

Visit for more details



Hill Residence

Hits High Notes At Sales Preview With views of Sunway, Puchong and the KL City skyline amidst the soft gentle breezes of a hilltop development, Zefer Hill Residence was opened for sale to enthusiastic public response on the 25 and 26 February 2011. iProperty was given an exclusive when the developer, Villamas Sdn Bhd, invited us to the unveiling of their latest collection.

The main highlight was definitely the 346 units of contemporary designed homes housed in two majestic towers beginning from a built-up of 1,356 sq ft onwards. During the sales preview, seven panel banks were on hand to advice interested buyers on their financial planning and packages which would suit them alongside a string quartet playing classical standards while purchasers chose and completed the transaction for their dream home.

Day/Date : Time : Venue :

25-26 February 2012 Saturday & Sunday 10am – 7pm Zefer Hill Residence Sales Gallery 35, Jalan BK 5A/3A, Bandar Kinrara 47180 Puchong Selangor Darul Ehsan.


Cake Decoration and Sugar Art Demonstration by Chef Eric Kwan Feng Shui Talk by Master Ooi Wai Loon malaysia | 23

’s dence i es R Zefer Hill unch Official La

icial orry, as the off w t no o d , d un e first ro % sed the boat th er. Tipped at 50 rn co e th d If you have mis un o is just ar s with Hill Residence y desirable unit an m , nd launch of Zefer ke ee view w wer 2, m the Sales Pre wer-density To lo e th in s take up rate fro it un usive join them particularly excl inviting you to is as am excellent views, ill V , er evelop hments e taking. The d with light refres re o m d are yours for th an s ay giveaw with activities, for a day filled well. to be served as

Day/Date : Time : Venue : Contact : Web :

31 March 2012, Saturday 10am - 7pm Atmosfera Condominium, Jalan Pipit 4 47170 Bandar Puchong Jaya Selangor Darul Ehsan 012-5388 133 / 03-8076 7606,

Highlights: • • • • •

2 % Early Bird discount, 7% bumiputera discount, Interest Subsidies Scheme (ISS), FREE Disbursement Fees & Legal Fees on SPA, and V-Club Membership for Loyalty Rewards Program

A landmark report of the property ma rkets in Malaysia, Sin and Hong Kong pre gapore, Indonesia sented by iProperty Group’s CEO, Shaun Di Gregorio.

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So Flexible! SOFO at 3elements What’s in a name? Well, plenty especially when you’re talking about SOFO at 3elements. SOFO is the acronym for Small Office Flexible Office, which encapsulates the key features of this brand new development.

SOFO creates a refreshing, 21st century business lifestyle concept that will have entrepreneurs moving effortlessly between their work and leisure. It is the ultimate gateway to a dazzling new way of combining the best of both worlds: the easy convenience of an urban lifestyle and the invigorating, expanding world of modern commerce. Space to Grow SOFO will be located in 3elements in Puchong South. It is an innovative mixed development designed around three key components that embody the live-work-play concept favoured by today’s urban dweller. It will encompass serviced apartments, office suites and retail or shop offices in one sprawling, progressive boutique city. This revolutionary commercial and residential zone sits on 6.03 acres of prime leasehold land in Puchong South. There are a total of 800 SOFO office units available for purchase as either single or duplex office spaces. Prospective buyers can choose from a variety of 7 designs for the single office space and 8 designs for the duplex offices with high ceilings of up to 18 feet in height. These properties have a built-up size that ranges between 504 to 1,131 sq ft with an unbeatable price range of just RM255,950 to RM367,307. The Gross Development Value for the entire development, is RM400 million, which gives investors a good value proposal. SOFO will be launched in March 2012 while the expected completion date is 3 years from the Sale and Purchase Agreement (SPA) date. malaysia | 27



02 Amazing Access & Ample Amenities Situated right in the heart of 3elements, SOFO is set to be one of the most centralized office spaces in the Klang Valley and those lucky enough to work there will be able to use multiple major highways to and from almost every other area of the Klang Valley. There are currently seven highways that create an incredible network of connectivity, namely, the Lebuhraya Damansara-Puchong (LDP), Shah Alam Expressway (KESAS), North-South Central Link, Bukit Jalil Highway, and the Cyberjaya & Putrajaya Highway, KL-Putrajaya Highway (MEX) and the upcoming Serdang-Kinrara-Putrajaya Expressway (SKIP). Traveling distances to landmark destinations: IOI Mall, Puchong or Cyberjaya(15 mins), Old Klang Road (20 mins), KLIA, Putrajaya or Bukit Jalil (25 mins), and Sunway, Subang Jaya or Kuala Lumpur (30 mins). There’s more good news. If SOFO is your office address, you’ll have a wealth of conveniences located just a lift ride away. 3elements offers a plethora of

03 F&B outlets, showrooms, retail outlets, entertainment & leisure centres, finance and banking institutions as well as healthcare and spas located on the ground floor. Besides that, SOFO at 3elements is just 500 metres away from AEON Jusco, Giant Hypermarket, Pasar Borong Selangor, KFC, both Shell and Petronas petrol stations as well as an international school nearby. Green & Healthy Living SOFO offices are undoubtedly the fusion of the very best characteristics of an ultra modern workspace. These offices feature spacious open plans, chic, contemporary interiors, 3 dedicated lifts, ample basement parking spaces for tenants, full-height windows and exclusive in-building amenities. Other fantastic features include lobbies with high ceilings of up to 18 feet in height, a swimming pool, a gymnasium and a business centre, to meld both work and lifestyle seamlessly. In line with the Green Building Index (GBI) being achieved, SOFO at 3elements brings together malaysia | 29 Special Promotions by a Dependable Developer Buyers have plenty to look forward to when it comes to promotions. The developer is offering a generous 7% discount for Bumiputeras while early birds stand to gain from the discount promotion for them. The developer is throwing in free SPA and legal fees for the loan, a free car park, 2 free air conditioners and even a free pantry.

04 elemental needs and a healthy green lifestyle in and through the innovative rainwater harvesting system. Other facilities include fibre optic backbone system for high-speed Internet broadband and High Definition (HD) Satellite Master Antenna Television (SMATV). Additionally, SOFO tenants will also have peace of mind knowing they are protected by the building’s fortified security system, which features multiplelayered security systems and 24-hour security via CCTV.

Location Map

Titijaya Group, the developer behind the SOFO project, is a respected property developer with a proven track record as it is highly regarded for its innovative, resourceful and reputable projects. The group is responsible for many successful, awardwinning property developments such as Subang SoHo and Subang Parkhomes in SS19 Subang Jaya, as well as First Subang in SS15. Other notable developments in Klang are The Galleria Lifestyle Streetmall at Klang Sentral and Zone Industrial Park at Sungai Kapar Indah. For more information on the development, prospective buyers may reach the developer at (6019) 769 6191 or (6019) 729 6191.

01 Modern, sleek faÇade design set against the picturesque skyline of KL city centre 02 The functional mezzanine floor for Duplex units 03 The 18’ high double volume feature for Duplex units 04 Ingenious layout design for sheer spaciousness

iProject Listing QuickPro No: NC2378 Project Name: SOFO 3elements City: Puchong, Selangor Property Type: SOFO Land Title: Commercial Tenure: Leasehold Land Area: 6.03 Acres Listing Price: From RM255,950 - RM367,307 Total Units/Lots: 800 Bumi Discount: 7% Completion Date: 3 Years from SPA (Expected) Developer: Safetags Solution Sdn Bhd (755016-A) N-16-01, Penthouse Level 16 First Subang Jalan SS15/4G, Subang Jaya 47500 Selangor Phone: (603) 8022 9999 Fax: (603) 8022 9988

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A life well-lived at

The Park @ Bukit Serdang The company that one keeps is often used as a gauge to measure standards. In the case of The Park @ Bukit Serdang (The Park), it is clearly visible that it is indeed in good company. Surrounded by luxury condominiums such as Villa Park and Sanderson, The Park fits seamlessly into an environment of prestige.

01 02 03 04

Modern design elevations Semi-detached house Linear park Guard house/entrance

Spread across 5.2 acres, The Park is a freehold development encompassing 32 units of semi-detached homes and 15 town villas. It is in close proximity to a host of mature townships and other key developments in the area, such as South City Plaza, The Mines Resort City and the renowned Palace of the Golden Horses. As such, residents will not need to venture far, to live a convenient lifestyle. malaysia | 31

03 Great accessibility and security


The Park is located just off the Bukit Jalil Highway and KL-Seremban Highway, which ensures excellent accessibility to and from the Klang Valley and Greater Klang Valley. Residents will live within a tranquil gated and guarded environment that will also have 24-hour security. Tipped to be one of the most coveted residences in Serdang, The Park features homes with spacious interiors and stylish exterior. There are 3 types of semi-detached homes and town villas respectively; the built-up for semi-detached homes are 4,520 sq ft, 4,717 sq ft and 5,008 sq ft, while the town villas are 1,164 sq ft to 1,493 sq ft. Residents will also have exclusive access to the beautiful clubhouse that houses a swimming pool and gymnasium – all set within a serene landscape and peaceful surrounding.


The Park @ Bukit Serdang will be launched at the mid 2012. Interested parties may call the developer, Nurani Gemilang Sdn Bhd, at (603) 4022 5168 / (6016) 213 2163, email general @ binastra. or visit




Keeping a keen eye on quality finishing Nurani Gemilang Sdn Bhd is a subsidiary of the Binastra Group of Companies. Over the years, the group has successfully completed quality houses, apartments, condominiums, commercial premises and industrial space all across the nation. Among the group’s latest projects are 3-storey semi-detached factory in USJ Subang and Bukit Jelutong at Shah Alam, high end residential development in Kemensah, Green Terrain condominium in Cheras and commercial developments in Bukit Serdang.

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05 06 07 08 09

Spacious living facing linear park Double volume living area Master bedroom Resident’s clubhouse Relax walkpath to Town Villa malaysia | 33

09 Location Map

iProject Listing QuickPro No: NC2283 Project Name: The Park @ Bukit Serdang City: Selangor Property Type: Semi-detached House Tenure: Freehold Land Area: 40’ X 80’ Built-Up: 4,520 sq ft - 5,008 sq ft (Semi-D) 1,164 sq ft to 1,493 sq ft (Town Villa) Completion Date: Mid 2014 (Expected) Developer: Nurani Gemilang Sdn Bhd (653966-W) (subsidiary of Binastra Group) No. 1 & 3, Jalan Jalil Jaya 3 Jalil Link, Bukit Jalil 57000 Kuala Lumpur. Phone: (603) 8998 7666 Fax: (603) 8998 7667 Website: Exclusive Marketing Agent: Twin Realty Phone: (603) 4022 5168 H/P: (6016) 213 2163 Visit for more details


Enchanted Riverside Living at

Canary Garden

The words canary and garden invoke thoughts of tranquility and conjure images of natural beauty, precisely why this brand new development at Bandar Bestari Klang is so aptly named. Meticulously designed to offer its residents a fantastic combination of serene surroundings and modern conveniences, there’s no doubt that Canary Garden is set to be the next coveted address in Klang. Wonderful Location 01 Residential houses along with 50 acres French garden riverside park 02 Conceptual gardens with jogging track 03 Iconic guardhouse inspired by timber glass cladding structure

Canary Garden comprises 2-storey Semi-Detached link homes, 2 and 3-storey Semi-Detached homes and bungalows in the residential development called Isadora while commercial properties such as shophouses are available at the commercial development called Palesa. malaysia | 35 Located at the well-connected Bandar Bestari Klang, Canary Garden is easily accessible via the KESAS Highway and Klang Town Centre. The KESAS Highway also offers easy access to Kota Kemuning, Shah Alam and Subang Jaya and trips abroad won’t be a problem with the Kuala Lumpur International Aiport (KLIA) just 45 minutes away by car. The South Klang Valley Expressway (SKVE) is also nearby and getting to and from Banting and Taiping will soon be a breeze thanks to a future coastal highway that will link these locations. With no shortage of amenities just minutes away, such as the biggest Jusco Aeon mall just 6 km away from Bandar Bestari, it is no wonder that Canary Garden captures the splendour of riverside living so well. There are banks, public institutions and government centres, all within reach. Besides that, Canary Garden City, with a touted new mall, KSL City 2, is currently in the works, and is all set to offer all the facilities and amenities every growing family needs.


01 03 Fantastic Facilities and Features A languid river runs right through Canary Garden. The gated and guarded residential homes at Isadora, which stretches across 356 acres, sit along one side of the river while Palesa, the commercial development area that covers 90 acres is located on the other bank. In a chic and glamourous feature, the remarkable 50-acre French garden lifestyle park by the riverside brings homeowners the unparalleled joys and beauty of nature in immaculately landscaped surrounds. This feature not only enables residents to conveniently enjoy the benefits of city life but also the soothing and serene environment that comes with riverside living. Residents can enjoy all these with the wide windows that welcome natural light within, allowing breathtakingly beautiful views of the picturesque surroundings to be appreciated.

36 | FEATURED PROPERTY | CANARY GARDEN There are many other fantastic plus points that will elevate everyday living into a sparkling adventure at Canary Garden. The Canary Garden Club House offers a veritable treasure of modern facilities including a gymnasium, swimming pool and sauna. The lovely pool deck is perfect for lazy, weekend gatherings with friends and family while the kids enjoy themselves in the children’s fun pool.

04 Dome situated in riverside plaza 05 Semi-D Link House Type 1 06 High end residential houses overseeing commercial city opposite the river

Residents can also rest easily, knowing that they and their families are protected by an excellent 24-hour security system that includes a central guardhouse, patrolling guards, CCTVs and an advanced fibre optic fence detection system that leaves no opportunity for intruders to break in.

04 Dreamy Designs To Be Launched


Designs for homes at Isadora, Canary Garden are modern with functional layouts surrounded by a pleasant, resortstyle environment. These freehold residential properties are available in a variety of 6 designs with 384 units available for the 1st phase and 72 units available after the first launch. Built up sizes range from 2,800 sq ft to an impressive 4,800 sq ft.


Lot sizes are 32’ x 70’ or 32’ x 80’ for the Semi-D linked homes, 40’ x 80’ for the Semi-D homes, 60’ x 100’ for the bungalows and 22’ x 70’ for the shophouses. Prices range between RM788,000 to RM1.5 million while Gross malaysia | 37

06 Development Value for the entire development is RM3 billion and spans across a total of 486 acres.

special absorption scheme for the first three days after the official launch date in effect.

The expected launch date this April will bring into focus the 2-storey Semi-D link homes, which makes up the first phase of the project, with a preview available in early March while the expected completion date is April 2014.

Canary Garden is developed by KSL Holdings Berhad, which was established in the 1980s. KSL Group is an award-winning, public listed investment company and a market leader in property development. This dependable developer is responsible for multiple major property developments including the Nusa Bestari and Bestari Indah townships and the esteemed KSL City Mall in Johor Bahru.

Special Rates Ongoing Prospective Bumiputera buyers will get to enjoy a 5% discount with a generous early bird discount and a

Location Map

iProject Listing QuickPro No: NC2379 Project Name: Canary Garden City: Bandar Bestari, Klang, Selangor Property Type: Semi-detached House Land Title: Residential Tenure: Freehold Land Area: 32’ x 70’/80’ Built Up: 2,800 - 4,500 sq ft Listing Price: From RM828,000 - RM1,028,000 Total Units/Lots: 76 Bumi Discount: 5% Maintenance Fee: RM150.00 Completion Date: April 2014 (Expected) Developer: Khoo Soon Lee Realty Sdn Bhd (66384-P) No 2, Jalan Langat KS9, Bandar Bestari 42000, Klang 42000 Selangor. Phone: (6012) 723 7699 / (6012) 728 7699 Fax: (607) 932 8000 Website:

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Shng Villas – Hilltop Tranquility What could be a better location for urbanites today than an area that is easily accessible to Kuala Lumpur City Centre, KLCC, Petaling Jaya and Mid Valley City? The answer? SHNG VILLAS - An exclusive and guarded residential development in the bustling hub of Cheras. Sprawling over 57 acres and nestled between the city centre and suburbs, these beautiful villas offer spectacular views of KL city, thanks to their high altitude, approximately 200 metres above sea level. Comprising 231 beautiful residential homes, SHNG VILLAS is a securely guarded enclave, promising peace of mind without worries of break-ins.

This sense of peace is further enhanced by green landscaped surroundings. In fact, home owners enjoy the luxuries of an urban lifestyle without compromising on a natural environment. What’s more, SHNG VILLAS’ Northeast-Southeast orientation and single vehicular entry-exit point will appeal to any smart property buyer. This upscale development appeals to those looking to upgrade. Each home is spacious enough to house an extended family. All will benefit from the many conveniences available within the area. Those with financial investment in mind will also find SHNG VILLAS highly sellable due to its high appreciation potential in view of the scarcity of land in that surrounding area. malaysia | 43

01 Dusk view* 02 Panorama KL night city skyline 03 Shng Villas aerial view*

02 01

03 Matured Neighbourhood SHNG VILLAS is well located in a matured neighbourhood which offers a variety of world-class amenities and facilities. Public schools like SRJK (C) Taman Connaught and SMK Taman Connaught and International Schools like Fairview International School and Sri Cempaka International School are within easy reach. Including a renowned private university, situated a short distance from the development. Its close proximity to Cheras Leisure Mall, major hypermarkets such as Giant, Tesco, Econsave, banks, shop-offices, Cheras Pantai Medical Centre, Gleneagles Intan Medical Centre, Hospital Universiti Kebangsaan Malaysia (HUKM) and Pantai Pandan Indah Medical Centre leaves residents spoilt for choice.

44 | LUXURY COLLECTION | SHNG VILLAS Easy Accessibility SHNG VILLAS is linked to a network of established highways, ensuring effortless accessibility to practically every where. The MRR2 is connected to the East-West Link. It serves as the main traveling route to other destinations within the Klang Valley. For more options, choose the CherasKajang Highway or the KL-Putrajaya Highway for speedy access to the KLIA airport. Convenience is literally at every turn!

Low in density. Generous and flexible in space. Contemporary in design. With spectacular views of Kuala Lumpur city and the forest reserve, these beautiful modern homes are designed to satisfy the needs of today’s urbanite. Spacious & Tranquil The home’s modern faade and practical layout are perfect for today’s home owners. Its external backyard and floating lanai exude serenity and tranquility that permeates within the home’s generous spaces.

With these unsurpassed conveniences and features, coupled with its premium location on a hilltop, SHNG VILLAS is clearly a home is worth investing. Phase 1 Now Available For Sale Comprising a total of only 14 exclusive residential homes, each comes with 4+1 rooms. With a built-uparea of 4,218 sq ft sitting on a lot size of 40’ x 80’.


05 malaysia | 45 Sleek and contemporary in architectural design, each home has 3 bedrooms with attached bathrooms. Complete with a spacious rumpus room cum family hall with an open terrace that is ideal for letting one’s hair down for total relaxation. On top of that, gourmands will be pleased to know each home comes complete with separate wet and dry kitchens. Cooking up a storm will be a definite possibility!


Call (6017) 581 2405 / (6019) 352 2137 Sign up for the good life today!

Shng Villas Where on the Map: Kuala Lumpur


Concept: Modern contemporary gua rded residential sitting on high alti tude Offered Built-ups: 4,218 sq ft


04 Living & dining hall* 05 Main entrance* 06 Master bedroom* 07 Garden* 08 Kitchen*

*Artist impression only



GLENMARIE COVE Riverfront Idyll at Your Doorstep

Could your home be the haven you’ve always craved for? City living has now become a chaotic potpourri of traffic jams, concrete jungles and hectic lives, so much so that people seek the balm of peace in the quieter neighbourhoods of the suburbs. What if the place you stayed in is located smack in the city, yet has a subtle essence of Venice present in every molecule? Welcome to Glenmarie Cove, a 200-acre lush riverfront resort residential development located very near the residential town of Klang. This gated and guarded freehold project comprises beautifully spacious bungalows and contemporary elite semi-detached homes. Glenmarie Cove is the only fully gated and guarded riverfront project in Klang Valley, with the majestic 2-km view of the Langat River. Homes by the Lagoon Glenmarie Cove comprises of 4 precincts, all naturally divided by landscaped lagoons, providing an aura of contemporary green living refined with traditional touches. Precinct 1, consisting of 106 semi-d homes and 55 bungalow lots, is 100% sold out and completed, as is most of the development’s Precinct 2 homes.

measuring about 3,216 sq ft, and land areas going from 3,358 sq ft right up to 5,242 sq ft, suitable for landscaped gardens, pets and those who love relaxing in the outdoors. The homes are being offered for RM1,168,000 to RM1,568,000. Precinct 4 offers exclusive bungalows and bungalow lots, so your ideal home can be made to measure. Around 80% of the 20 riverfront bungalow lots have been sold since its launch in late 2007. With bungalow lots ranging in size from 8,180 sq ft to a generous 15,618 sq ft, the prices are rather competitive at RM188 per sq ft. The first phase of Lusso’s bungalow homes are set to be launched in May this year. Phase 4B1 consists of 19 units of modern marvels, with built-ups from 3,770 sq ft to 4,180 sq ft on lot sizes ranging from 5,598 sq ft to 11,076 sq ft. Riverfront living has never been this luxurious, and Lusso’s bungalows are definitely for those who cherish the spacious living and the potential of appreciation it brings with an average price of over RM2mil.

Rosea 2, part of the Precinct 2 homes, is a cluster of 26 Semi-D villas located within the tranquil settings of Glenmarie Cove. The homes come with a built-up size of 2,347 sq ft, perfect for families both small and large. Although located within the exclusive development, and with ample amenities and facilities available, Rosea 2 homes are reasonably priced landed properties, with prices ranging from RM719,800 to RM838,800. The final phase of Semi-D homes for Precinct 2, dubbed Laurel Villas, is one of Glenmarie Cove’s upcoming offerings. An archipelago of 20 homes, Laurel Villas is made for those rich in taste and green in life, with homes

02 malaysia | 47 Integrated Exclusive Touches Glenmarie Cove’s exclusivity is further defined by a whole host of thoughtful details. A jetty is available for every precinct, making the transition to dry land perfectly convenient. Two clubhouses will also be available for Glenmarie Cove families to enjoy recreational activities without having to go far, complete with swimming pools, gymnasiums, reading rooms and multipurpose halls for parties and functions. The place proves to be more than just residential living with resort-style benefits for residents as the 2-km riverside boardwalks and 4 recreational lagoons excite the senses and promote healthy living. There are also playgrounds for the young and the young-atheart and BBQ pits for those late night celebrations. A Delightful Location This well-placed spot is only 20 minutes away from Subang Jaya’s town centre, and also Shah Alam and Klang town. A mere 25 minutes to Puchong & Bukit Jalil, and 40 minutes to Bandar Utama, TTDI, Damansara Utama, Kuala Lumpur and KLIA, Glenmarie Cove is removed enough from the frenzy of city living yet well-connected to Klang Valley’s major cities. Connectivity is a breeze, with major highways running past the development. Use the KESAS expressway to get to the LDP and NKVE highways or even Klang town for the ultimate ease of connection. With these highways, shopaholics can get their fix at some of Malaysia’s premier shopping malls like Empire Shopping Gallery, 1 Utama, The Summit, The Curve, Ikano Power Centre and IKEA.

Location Map

01 Senangin Pier & riverfront boardwalk @ Precinct 1 02 Abundance of space 03 Resort-like environment

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Schools and premier tertiary institutions are also available nearby, like Sri KL, Malaysia’s premier international school, Taylor’s University, and INTI University College. Convenience of shopping for daily needs is at hand with Carrefour, Tesco, Giant and even South East Asia’s largest Jusco just a short drive away. Medical facilities are right at the doorstep, with major hospitals nearby, so Glenmarie Cove is convenience and comfort all at the same time. About the developer Glenmarie Cove Sdn Bhd is owned by HICOM Bhd and Comtrac Sdn Bhd, both subsidiaries of DRB-Hicom Bhd. For further information on Glenmarie Cove’s homes and developments, visit www.glenmariecove. or call (603) 3134 2828.

iProject Listing QuickPro No: NC2376 Project Name: Laurel Villas City: Klang Property Type: Semi-detached House Land Title: Residential Tenure: Freehold Land Area: 3,360 sq ft (42’ x 80’) Listing Price: From RM1,168,000 Total Units/Lots: 20 Bumi Discount: 7% Completion Date: June 2014 (Expected) Developer: Glenmarie Cove Development Sdn Bhd (570048-T) Seri Santai, Glenmarie Cove off Jalan Telok Gong 42000 Klang. Phone: (603) 3134 2828 Fax: (603) 3134 3838 Website: Email:

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Progressing boldly forward Prospecting and risk-taking is synonymous with Binastra Group’s push to the fore. Nurani Gemilang, under this illustrious group, has proven that boldness, innovation and foresight are key ingredients to overcome the hurdles to progress. We speak to Mr. Steven Ooi, Nurani Gemilang’s General Manager, for his take on the business’ targets and achievements.

iProperty: Tell us a bit about Nurani Gemilang Sdn Bhd’s origins and its achievements thus far. Mr. Steven Ooi (Binastra Group): Nurani Gemilang is a part of the Binastra Group which is made up of two major divisions the property development arm and the construction arm respectively. When Binastra began operations in 1979, we started out as Binastra Construction Sdn Bhd. Naturally, we ventured into property development and investment in 2005. Our flagship residential project was Seri Titiwangsa, a low-density condominium in the heart of Kuala Lumpur. Since then, we have completed about six residential and commercial projects. iP: With 2011 being an eventful year for your company, what is in store for 2012? BG: We’re excited about 2012 and the projects that our group of companies plan to launch this year. First up, we have The Park @ Bukit Serdang, which comprises of 32 semi-detached homes and 15 premier town villas enclosed in a gated community. Then, we have The Hill @ Kemensah, also a gated community development with 20 units of 3 1/2-storey semidetached houses and 12 exclusive townhouses in Ampang.


In the near future, we are also looking to launch a very special project in Cyberjaya, where we have acquired a prime piece of land right in the heart of Cyberjaya. There are plans afoot to build a mixed development project comprised of an office tower, SOHOs, and boutique retail outlets, creating the ultimate mix of business and leisure. The first phase of the Cyberjaya project will be announced by the middle of 2012, if we are able to receive all necessary approvals. malaysia | 51

03 iP: How has the response been for The Hill @ Kemensah and The Park @ Bukit Serdang? BG: Actually, registration for The Park @ Bukit Serdang started in 2011, as soon as the project was under construction. Until this moment in time, about 500 to 600 people have either registered or enquired about this particular project, which tells us that the project is getting a very good response from the public. We expect to launch The Park officially sometime in the middle of the year. The Hill @ Kemensah, will be launched a little later. We do not want unnecessary accidents and mishaps to occur once the development is complete, so safety and security must be impeccable. With its value proposition for the investing and purchasing public, we expect good response once this project is officially launched. iP: Since The Hill @ Kemensah is considered a hillside project, tell us the challenges you have faced in developing such developments.

01 Guardhouse/Entrance 02 Mr. Steven Ooi, General Manager of Nurani Gemilang, a subsidiary of the Binastra Group 03 Modern design elevations

BG: When it comes to hillside developments, if the neighbouring land is occupied, or if there are any developments surrounding the area, there are a lot of restrictions in developing the land parcel. Where there are slopes, terrain management is essential to the foundation’s stability. We have to work within the restrictions placed on us by the relevant authorities and it may be a long winding road, figuratively speaking. Moreover, hillside development roads are narrow, making it difficult to transfer material in. As a responsible developer, we do not develop in such a way that at the end of the day, our neighbours become unhappy with our progress, and lodge complaints against us. It is important for us to have a safe and secure development process. There are no shortcuts when it comes to safety in hillside developments, so we are following the advice of our expert consultants closely.

52 | TALK POINT | BINASTRA GROUP 04 Double volume living area 05 Linear park

While it is still in the pipeline, we will be very careful with where we acquire our next land bank. Our targeted area is mainly centred in the Klang Valley, so we are waiting for the right land to come by.

04 iP: What are the special features about your projects? BG: The Hill @ Kemensah was developed with the gated and guarded concept in mind. The homes in The Hill are spacious, measuring over 5,000 sq ft, something we believe would appeal to multi-generational families. There are only 20 semi-detached units, so exclusivity is key. Security is first class as well, with 24hour security and perimeter fencing and direct intercom to the guards. Plus, it has to be said that Ampang is right beside Kuala Lumpur, so the world’s best facilities are just a short drive away. About The Park, our research on Bukit Serdang proves that there is a need for a sophisticated gated and guarded community. This immense need for change was our chance to differentiate our offering with The Park. We further distinguished ourselves with our 32 Avenue @ Bukit Serdang project, providing a centralised commercial centre for residents. It definitely provides an added edge of convenience to the residents of Bukit Serdang. iP: Are there any plans for land bank acquisition this year? What will you be developing if you are? BG: This is a tough one. With the property boom last year, there are not as many good available land parcels around. Even if there are, we are being asked sky-high prices for them.

iP: Moving on, can you enlighten us on Nurani Gemilang’s projected outlook for the second quarter of 2012? BG: If the economy is kind to us, we’re looking at a targeted Gross Development Value (GDV) of at least RM400mil. This is an achievement compared to 2011, in which we targeted about RM300mil, but we managed to peak at a little less that the projected amount. iP: How has the market been so far in 2012 for your group of companies? BG: This year, it is safe to say that our group of companies has been doing all right in terms of market reach. We managed to launch our 32 Avenue Phase 2 before Bank Negara changed the loan policies, so we managed to lock in our purchasers. We are not sure of the ruling’s actual effect, which will be implemented on our soon-to-be-launched projects, but for now, it still looks good for us. iP: What sort of appreciation can investors expect from The Hill @ Kemensah and The Park @ Bukit Serdang? BG: This is fairly difficult to predict, but I can tell you that one of our developments in Puchong has already risen up to 100% above the original purchase price. If you have been following us and our projects, you will know that our developments usually rake in very good returns. malaysia | 53

“As a responsible developer, we do not develop in such a way that at the end of the day all our neighbours become unhappy with our progress, and lodge complaints against us�



Milsonland Makes Its Mark In Commercial Developments When we met up with Mr. Sky Tan, the Founder and Managing Director of Milsonland Development Sdn. Bhd., they were flushed from the success of developing their flagship commercial centre, Olive Hill Business Park in Serdang. Offering a wellresearched design and layout alongside trademarks of successful commercial hubs such as ease of access, excellent location and an appealing value proposition, we hear his thoughts on their project and the property market in general.

iProperty: How did Milsonland come about and what is its background? Mr. Sky Tan (Milsonland Sdn. Bhd.): I founded the company fairly recently, in early 2010 after a stint as a banker in Australia. How Milsonland started was by a simple idea of developing quality bungalows for the niche market and from there on, we gained the confidence and reputation to venture into property development. Olive Hill Business Park in Bukit Serdang is our flagship project and I still remember the advice I was given when we first mentioned the idea of a commercial park in Serdang. We were told that no sane person would develop in Serdang, and we should look to


01 Kota Damansara instead but what everyone saw as a rock, we saw as a potential diamond. With commercial developments, just as with any other form of investment, research is necessary, and so too is the fact that we wanted to go where we had lesser competition within a high-growth area. Hence, when we discovered the potential in Serdang we chose to invest in it and the rest, as they say, is history. iP: Was Olive Hill Business Park worth the risk? How has the response from the public been so far? MSB: Let me put it this way, time is the enemy of the poor business and the great friend of a sound business, it took us a year to plan and negotiate the land bank simply because after I had gone in with my bid, other parties went in with theirs, offering top up upon top up. At one stage I thought the landowner would just give it to the highest bidder, but he chose us instead. We were also given very favourable terms in repayment for the land, where others were given tighter terms. Olive Hill’s official public launch was in October last year, and until now, there are less than 20% of enbloc shop malaysia | 55

03 offices left for Phase 1. We expect more enquiries and sales once the construction of the entire commercial park reaches a certain percentage. In fact, after the launch of Phase 1, we are targeting the launch of Phase 2 in the upcoming months. iP: What are the main attractions for businesses that want to move to or open up in Olive Hill, with its location in Serdang? MSB: We understand that people staying around Serdang are already used to the existing town centre, and there will be difficulties to realign or redesign it, so we were inspired to create a new and contemporary business centre, like a second town centre. We believe that with Olive Hills standing proud in Serdang, we will be able to elevate the residents’ living standards, and also indirectly usher in more medium and high end residential property developments in a rare, almost untapped suburb market. We also intend to create more business opportunities and careers with the existence of Olive Hills. iP: What are the features that make Olive Hill truly special, and are there unique features that give it the upper hand over other commercial parks? MSB: We aim to eventually make Olive Hill a friendly new business and lifestyle centre in Serdang, and to position it as an epicentre for medium-upmarket businesses. We have made Olive Hills aesthetically pleasing, with modern designs and wide glass frontage and windows. This makes them

01 Profile picture of Mr. Sky Tan 02 Entrance day view 03 Night view

56 | TALK POINT | MILSONLAND 04 Aerial view 05 Side elevation 06 Overall site layout

04 a perfect choice for a majority of retail outlets, like boutiques, banks, bakeries, and even SMEs. The area is also surrounded by landscaped greenery and designated walkways, creating green walkways that are scenic and shady, all at the same time. Olive Hill Business Park will also have ample parking space, as we’ve provided approximately 1,000 spaces, so convenience is the first thing on our mind. Our unique designs make it possible for twice the number of businesses to establish in Olive Hills, with our one-of-a-kind dual level frontage offering 49 4-storey units, for a possible 98 shops and 25 3-storey units. Phase 1 alone is equipped with 123 units of retail outlets. With this unique construction technique, we expect Olive Hills to attract more business variety. At this moment in time, there are a few roads with access to this project, and we at Milsonland have studied the area and planned the infrastructure accordingly, so investors and buyers can rest assured that the well-planned flow of traffic will encourage maximum visibility and minimal traffic jams. Furthermore, the upcoming new highway link will ensure a brighter future for potential businesses. iP: How will this project be a revenue for investors? What is the projected appreciation rate? MSB: Investors need not worry about returns or revenue, as our unique dual ground level frontage will double their opportunity of success (rental income and revenue) without doubling the purchasing cost, thus rental returns are projected to give them a minimum profit of 7% per annum. The expected conservative growth of the commercial park is a probable range of 25% to 35%, depending on how well we do. iP: What new offerings can we expect from Milsonland in the year 2012? Are there plans to venture into residential developments? MSB: 2012 basically looks exciting for us, as we will be launching

Phase 2 of retail outlets and office lots with strata titles in March. Retail lot sizes will range from a proposed 3,600 sq ft up to 28,000 sq ft, with selling prices proposed from RM 1,388,000 with early bird incentives. We have a variety of units, like 2 1/2-storey shop offices. Phase 1 retail lot sizes will range from 5,200 sq ft with selling price from RM 1,818,000. We have a variety of units, like 3-storey shop offices and 4-storey dual ground frontage shop offices, 4-storey corner shop office and 5-storey corner shop office, so investors and businessmen can choose which one suits their ventures best. There are future plans to delve into the residential property market, and we have high-rise stratified and landed properties on the drawing board. We may even venture into the industrial market, as there is a big demand for quality factories and such. iP: How about the overseas market, any plans to tap into property development abroad? MSB: We’re optimistic about our growth in the local market, and we want to focus on Malaysia for now. Creating a brand name and recognition for our work is of utmost importance. iP: Let’s wrap up with how you expect the property market to fare this year. How would you project Milsonland to be doing in 2012? MSB: So far, two months into the year, the property market has been put on brakes of sorts, a slow down seen due to back-to-back festivals and public holidays, whereas global impact is kept at a minimum in the Malaysian context. As you know, in Malaysia, the Asian culture still holds strong and property has always malaysia | 57 been a favourite investment to preserve wealth, the Asian culture believes that someone is sitting in the shade today because someone planted a tree long ago. Thus, the future of the market will always be on the bright side. Overall, Malaysia is still under an umbrella, a typical case of look global but think local, with the Government’s actions seen as a major factor in determining the wellbeing of the economy. How the general economy performs will be reflected in how the property market performs as well. After a slow Q1, I expect Q2 to be stable with growth in certain market segments a certainty. However, I feel that interest rates, financing margin and credit criteria have to be revised as there might be a financing problem otherwise.

“Our unique designs make it possible for twice the number of

businesses to establish in Olive Hills, with our one-of-a-kind dual level frontage offering 49 4-storey units, for a possible 98 shops



As for Milsonland, we aspire to build not only quality products but a quality product that will take into consideration all risk factors and deal with the root cause. We are confident that our products meet the buyers need for their short-, middle- and long-term investment interests. Hence, we will be doing well once we provide creative, innovative and products that meet needs.


58 | SPECIAL FOCUS | The second Penang Bridge Effect

The Second


Bridge Effect When the iconic Penang Bridge was constructed in the mid-80s, the longest bridge in the nation brought new impetus to the fortunes of the state. No longer did one have to endure the 30-minute ferry rides (quaint though it may be) to get to the island or vice versa. Hence, when the construction of the Second Penang Bridge was announced, the news was met with a mixture of both excitement and concern over the impact on property prices. ventures to capture the views of the developers directly impacted on the island and the mainland with this impact analysis.

There are no illusions that the Second Penang Bridge currently under construction will be the longest bridge in Malaysia and South East Asia. Joining Batu Kawan in Seberang Perai Selatan on the mainland and Batu Kawan in the southern part of the island, the 24-km cable stayed bridge will be built to the tune of a cool RM 3 billion and will be due for completion in May this 2012 after a delayed start to construction in late November 2008. Considering the movements of the property market on both the island and the mainland, we managed to locate a few developers on both sides of the bridge to weigh in on how or if the High Impact Project under the Ninth Malaysia Plan would impact their offerings, plans and public reception to properties surrounding the Second Penang Bridge. In our panel of developers, are Mr. Tan Hun Beng, General Manager of Sunway Grand Sdn Bhd, Ms. Teh Teng Teng, Executive Director of Tambun Indah Sdn Bhd and Mr. Hee Tee Theng, Executive Chairman of Taman Jadi Group.

Of Land Banks and Value The main issue has always been the land price and how scarcity on the island has contributed to the sky-high prices of island-wide properties. We approached developers that have projects in close proximity to the Second Penang Bridge to find out if this has impacted their projects, land bank acquisition activities and projected GDVs which show a direct link to the value of development. iProperty: How has the commencement of the Second Penang Bridge’s construction impacted the property market in the surrounding areas? Mr. Tan Hun Beng (Sunway Grand): The construction of the Second Penang Bridge has had a positive impact on us as most of our projects are located in the island's South West district. We project that there will be easier traffic flow for most Penangites working in the Free Trade Zone with improved access to this industrial zone. malaysia | 59

“The construction of the Second Penang Bridge has had a positive impact on us since most of our projects are located in the island's South West district.” - Mr. Tan Hun Beng (Sunway Grand)

TI & TJ: Yes. The price of the land has increased with the news of the development. iProperty: Upon development of the bridge, what is the projected GDV for upcoming projects on the land parcel? SG: The GDV for our Sungai Ara development, in which the land bank was purchased after the announcement, has a projected GDV of RM 800 million. Ms. Teh Teng Teng (Tambun Indah): The prices of new property developments in the Batu Kawan and Simpang Ampat areas are expected to pick up further upon completion of the Second Bridge as traffic flow will pass through these areas on the mainland. Mr. Hee Tee Theng (Taman Jadi Group): Since 2008 (which was when construction commenced), the property prices have increased by 15% – 30% p.a. within the radius of Batu Kawan, Bukit Tambun and Bukit Minyak. Land prices have increased at an even faster pace at 20-40% p.a. from 2009 till 2011.

TI: The projected GDV of our project stands at RM 3 billion. TJ: The projected GDV for Tambun Royale City is now estimated to be at RM 400 million. From this, there is no doubt that land prices have risen in tandem with the development of the Second Penang Bridge. What is interesting to note is that developers on the island, represented by Sunway Grand in this roundtable, do not seem to feel the pinch as badly as the developers on the mainland, as represented by Tambun Indah and Taman Jadi. The cost of the land, whether bought prior to or after the announcement is also key to these developments.

iProperty: Was the land bank acquisition done prior to the construction of the bridge? SG: Our most recent land bank in Sungai Ara was purchased after the announcement. TI: Yes, ours was done before the news came out. TJ: Our land bank was bought before the construction of the bridge began. iProperty: Did the news of the Second Penang Bridge affect the pricing of the land earmarked for development? SG: I would say not that we are aware of as there has been no links to whether the news had any direct impact on the acquisition.


60 | SPECIAL FOCUS | The second Penang Bridge Effect

01 The compound and impressive built-up for Sunway Merica’s 3-Storey Semi-Ds 02 The master bedroom comes complete with luxurious walk-in wardrobes for ultimate glamour

TI: We are developing a mixture of terrace homes and semidetached homes which will be affordable for the middleincome group.

02 Products & Population With a visible impact to land prices, the obvious follow-up to that would be how are developers building to attract purchasers, investors or otherwise, for a good take-up rate. When it comes to target market, we found out if purchaser demographics on the island would be vastly different from the mainland. iProperty: What types of projects are being developed in the area? SG: Our focus is on high-end residential development due to the cost of land, among others. The hill development will be one of the most luxurious developments in Penang, with a targeted preservation of almost 50% of the natural landscape and environment.

TJ: We are dedicated to developing a residential township with Tambun Royale City, made of three gated and guarded schemes for various market segments. We have designed the properties as bungalows, zero-lot bungalows and terrace homes for those who prefer landed properties. We also provide serviced apartments for the younger market and holiday home owner. In the mix is also a stripe of commercial property that serves the needs of this township. With a potential scarcity for quality homes being built compounded with the fact that Penang is a state seen as the most favourable destination for FDI in 2010/2011, there has been rapid development of three main industrial parks, namely Penang Science Park, Bukit Minyak Industrial Park and Valdor Industrial Park which will fuel the need for quality residences. iProperty: What are the nationalities and average age of your buyers or investors? SG: Most of our prospects for this Sungai Ara development will be from age 35 onwards and most likely exposed to foreign ideals as they would most likely have overseas experience. Both Malaysians and expatriates will find this project a suitable residence or even investment. TI: Most of our buyers fall within the 35-45 age group and are locals or Malaysians as we foresee that there will be good take-up of our projects by those working in the nearby areas. TJ: All age groups from 25 years onwards will love what we have to offer and regardless of whether they are Malaysian or non-Malaysian, they will definitely find something suitable for the means and their dreams.

“Since 2008 (which was when the construction commenced), the property prices have increased by 15% – 30% p.a. within the radius of Batu Kawan, Bukit Tambun and Bukit Minyak. Land prices have increased at an even faster pace at 20-40% p.a. from 2009 till 2011” - Mr. Hee Tee Theng (Taman Jadi Group) malaysia | 61 As the saying goes, cut your coat according to your cloth, the products being offered takes into consideration a few factors including market demand, land price and dimensions as well as target audience profile. While there is a distinct difference in offerings that are high-end residences, mixed developments and townships, one thread unites them all: developers work hard to put homes on the market which are hopefully able to be absorbed by the buying public, whether for own consumption or for investment. Opinions & Trends We conclude our impact analysis by asking our panel of developers to comment on the current impact and the trends which they observe taking place due to the construction and completion of the Second Penang Bridge to the property market in general. iProperty: In your opinion, what is the measurable impact of the construction of the Second Penang Bridge? TI: The construction of the Second Penang Bridge will indirectly boost the economic activities of the surrounding areas. The workforce involved in the construction will most probably stay nearby the work site and this will bring in more commercial benefits to the surrounding areas. The contractors and suppliers involved in the construction will also contribute indirectly to the commercial activities

of the surrounding areas. This is of course from a socioeconomic standpoint. TJ: I think economic growth through the development of the three industrial parks mentioned earlier will deliver the sustainability of the local economy’s development and indirectly feed the growth of the property market on the mainland. iProperty: How do you think the prices of the property in the island and the mainland will be influenced by the Second Penang Bridge? Any foreseeable trends? SG: With the increased land and construction prices, it would be likely that we will see more upscale developments on the island. We will also see some significant migration from the island to the mainland as the population grows. TI: The completion of the new link to Penang will definitely push up property prices in the whole state. TJ: It should mitigate the huge gap of price difference between the two ends of the bridge. Currently, prices of properties on the island is priced three times higher than those on the mainland. Many working class individuals on the island can hardly afford a good house, especially those who prefer landed properties. With better access from the Second Bridge linking high-growth areas in the island and the mainland, those living in Penang Island now have a better choice in affording a quality house on the mainland.




Since Georgetown was listed as a World Heritage Site by UNESCO in 2008, Penangites have much to rejoice in. The city, which had been suffering from years of neglect and dilapidation, was suddenly thrown into the spotlight with much fanfare and celebration. The listing brought about a sense of hope, optimism and expectation in reviving Georgetown to its former glory. We check with the organizers of Georgetown Festival for the latest in the Penang scene.

Slowly, one can see the transformation of Penang taking place soon after the World Heritage Site announcement was made. Crumbling pre-war buildings, especially in the inner areas of city were given a new lease of life, leading to the establishment of quaint little outlets beckoning a sense of dignity, peace and rest. Of late, such has been the trend in urban redevelopment of these pre-war buildings, with

popular areas including Muntri St, Victoria St and Beach St among others, which has drawn much interest from the locals and tourists alike. A City in Celebration Furthermore, the state holds an annual Georgetown Festival, a month long event that transforms the city into a platform showcasing a variety of arts, culture malaysia | 63 and heritage performances. We recently managed to catch up with Joe Sidek, the man behind the Georgetown Festival to see what his views were on how the Festival had impacted the city’s efforts in urban redevelopment. “There is a very strong link between lifestyle and property,” Sidek says, adding that people were slowly going back to their roots, eager to revitalise the old charm of Georgetown. This is probably why there are currently a lot of interested parties looking into restoring the old pre-war buildings within the inner areas of the city. Lots of these renovated buildings have been converted into tea and coffee houses, restaurants, art galleries and boutique hotels. “I see that that there’s a lot of money coming into the state as more and more entrepreneurs both local and from abroad expressing strong interest in setting up hospitality businesses here, which is beneficial for the property market here.

“This is also due to the fact that it is a growing trend for locals to frequent these sorts of venues instead of clubbing on a Friday night,” he said.

Indeed, there is a certain feel in basking on a slow Saturday afternoon sipping a latte on an antique table and chair in a 100 odd-year-old building while browsing through a good book watching life go by. “I think the reason such refurbished outlets are so successful is because while they are exciting, cool, eclectic and trendy, you would not feel awkward bringing your grandparents to have a drink with you while discussing family history.” “There is just a sense of dignity and comfort of such places that appeal even to the older generation, partly because they also once grew up in these kinds of buildings and are quite familiar with their surroundings.” Such outlets also boast in their personalised signature selection of cuisine that also contributes to Penang as a food haven, leaving foodies curious as to what these outlets have to offer.

For a start, we would need more museums and galleries to be set up,” he said. Incidentally, Penang was once upon a time a hub for arts and culture stretching back to the 1700s. It was during that time when the one of the earliest photography societies was set up. The state, during that period also had one of the pioneering art councils. However, as time went by, the arts scene dwindled in the state with many art practitioners moving overseas or to larger cities which promised a brighter future for them. Nonetheless, Sidek feels that the renaissance era for Georgetown – in terms of the arts – is close at hand. “The city will benefit greatly by having more avenues for the performing arts – something more established cities in the world are known for – which can draw in more tourists here,” he said. Already, the state has benefited from the much publicised World Heritage listing, thanks to generous coverage from international media outlets such The New York Times, the Asian Wall Street Journal and the South China Morning Post. “The numbers of tourists have been on the rise, partly because they want to see what the fuss is all about,” Sidek said. “However, for world travellers, they are not really keen on checking out the latest clubbing spots – on the other hand, they are more inclined to chill out at a lounge or watering hole late in the evenings to savour performances that are on par with the international scene,” he said. “Many foreigners I know seem to fall in love with Georgetown. I know of tourists who have bought old properties, renovated them and have made them into homes, and not commercial gains,” he added.

The Life & Soul of the City However, would only trendy cafes, restaurants and hotels be enough to revive the city and make it attractive for people to make homes in? Sidek does not think so, as he believes more efforts should be undertaken to improve the liveability of Georgetown. “There is so much more that can be done in terms of enriching the arts, culture and heritage scene of the city.

“To me, I think it would be pointless to own a beautiful home, but have nothing to look forward to outside of your four walls.” “That is why I feel that it is of utmost importance to develop the infrastructure for the arts within the city as that will be the catalyst likely to have a positive impact on the properties here,” he added.


EduCity in Iskandar Malaysia A Master Class in Education

In the famous words of American author Ralph Ellison, education is all about creating connections that matter right into the psyche of a human being. This visionary quote was quite unimaginable just fifty years ago that education would travel to people, instead of people to education. With the advent of technology and the connections we have today, not only is it possible to bring the world’s best universities and institutions under one roof, it is also possible to create a highgrowth education hub like no other. This is where EduCity in Iskandar Malaysia aims to make the connection in educating the best and brightest the world has to offer. We find out how it plans to bridge the gap.

“Education is all a matter of building bridges.” - Ralph Ellison, American Author

01 01

When EduCity, a pioneer education project to be located in Nusajaya, Iskandar Malaysia was launched, there was great excitement in the air as it was the concrete realization of the many plans that Malaysia had to boost its education and academic standing in the world’s rankings. As it stands, the Iskandar project was begun by the Malaysian government with the hope of attracting RM335bil of investment to the area over two decades. Once completed, the project could be three times the size of Singapore. EduCity is a sprawling 305-acre, fully integrated education hub featuring some of the world’s renowned universities and tertiary education institutes, academia-industry research and development (R&D) centres, accommodation and also state-of-the-art facilities, including sports facilities. Built with two main objectives in mind, Educity is touted to be able to kick-start the culture of critical thought through research and malaysia | 65 development in the academia. The first objective listed in EduCity’s charter is to create a best-in-class higher education destination with superior urban environment academic institutions, students, and guests to live, work, study and play. The second objective is to provide a feeder system for the economic pillars of Iskandar Malaysia and contribute to the nation’s aspiration to become a regional hub for education. Making Education Worthwhile Some of the faculties that are set to exist in EduCity are Medicine, Maritime Studies, Engineering, Hospitality, Creative Arts, Logistics, ICT, Business and Finance. The owner of EduCity, Education@Iskandar Sdn Bhd (EISB), has roped in major educational institutions to collaborate on this landmark project. Newcastle University Medicine Malaysia (NUMed) is one of the universities set to create a campus here, offering medical and surgical degrees. NUMed Malaysia currently has over 40 students enrolled, and plan to increase that number to 1000 by 2017. Netherland Maritime Institute of Technology (NMIT), a partnership between Maritiem Instituut Willem Barentsz, Maritiem Instituut de Ruyter and DutchMalaysia owned, Maritime Intel Sdn Bhd (MISB), the operating company of NMIT, will offer diploma, degree and master programmes in marine transport, shipping seafaring, maritime and logistics management. All the courses in NMIT will be International Maritime Organisation accredited, and students taking up programmes offered can expect to start their career with any international shipping company. There are also plans to rope in an American cinematic school, in collaboration with a local private university, to set up base in EduCity. The university is set to teach the art of film making, with courses in film production, editing, script-writing, music, stage design, special effects make-up, costume design and wardrobe. Raffles Education, Singapore’s non-profit higher learning institute, will also join the boat with these universities and become EduCity’s largest campus by 2014.

internationally renowned film production company, Pinewood Shepperton, to set up the region’s biggest independently-owned studio right here. Pinewood is famous for their work with the James Bond and Harry Potter series, Christopher Nolan’s Batman Begins, and Hollywood blockbuster The da Vinci Code. Pinewood Iskandar Malaysia Studio (PIMS) is scheduled to start production in 2013, and the cinematic school graduates are guaranteed to be able to taste a tinge of the Hollywood glamour by working with the experts of PIMS. Johor is a popular international harbour and port, and NMIT students can be assured of job opportunities to flood by them as soon as they graduate. Projecting the Future

Growing Talent in the Region What is interesting to note about the universities and programmes being offered by EduCity is that they are directly linked to Iskandar Malaysia’s socio-economic development. An Australian hospitality and tourism institute is being approached to set up base in EduCity, with the hopes that the products of the institute’s Iskandar branch would be able to start their careers with the hotels within the economic corridor, what more with the launch of the highly-anticipated Legoland Malaysia and also The Indoor Theme Park @ Puteri Harbour. The cinematic school, too, is there for a purpose, as Iskandar Malaysia has signed a RM400mil deal with

With a plan like this, there is little doubt that EduCity would be a successful venture for Khazanah Nasional Berhad, who own Iskandar Investment Berhad (IIB). Malaysia’s reputation as a regional leader in education and academia is set to grow and with the sports facilities in tow, some of the nation’s and world’s best sportsmen are set to be unearthed too. The tagline for the project, “A Community of Best Practices in Academia,” reflects the hub’s true motive: to provide the world’s best resources for students all over the world, with job opportunities that abound within the same locale itself. It is this crucial link that bridges the gap of training and knowledge with the necessities of the industry surrounding them.


Cultivating a High Appreciation Property Amidst fluctuating local and global property prices, the property market is said to be a catalyst to Malaysia’s High-Income Nation Goal according to the Housing and Local Government Minister, Datuk Seri Chor Chee Heung. We take a look at the environology factors that shape a high appreciation property.

Property investment is more than just the fundamental faade of purchasing any property, beyond examining every aspect, whether good or bad, and all the factors that affect us in the short and long term. Determining the Property So how do we search for the best high appreciation properties? From feng shui principles, hilltop and mountainside properties are highly valued as mountains govern the overall qi in the environment. They are even related to producing ‘wealth qi’, something that everyone looking to bank on prosperity in life would want to seize. Man didn’t shape the mountains, but the forces of nature and the gravitational force of the stars did, hence, they are regarded as Yin because they are stationary or immovable and represent stillness and quietness as well. Mountains generate qi in the surrounding areas and are often referred to in ancient feng shui as ‘Dragons’. (Hence my book, Walking the Dragons) The natural appearance of mountains connotes the type of qi released to the immediate surrounds and malaysia | 67

“Keep in mind though that it

doesn’t really take a trained pair of eyes to ‘see’ the mountains in a certain area

environment around the mountain. Therefore, it is important to determine the type of qi in the environment before understanding what type of and how much qi a property can receive. To tap into the qi of an area, the type and quality of mountains in the area must first be observed. Keep in mind though that it doesn’t really take a trained pair of eyes to ‘see’ the mountains in a certain area. Especially in Malaysia, mountains and hills are vast throughout, even in areas that look flat or are heavily developed, there are many small hills and contours around. Just keep your eyes peeled. According to San He classics, good mountains are green, lush and gentle in appearance, with rounded tops. Such mountains are healthy and growing Dragons (Sheng Long), emitting benevolent qi. Bad mountains, in contrast, are steep, sharp and have pointy tops, like that of a witch’s hat. Mountains that have naturally collapsed, known as broken mountains, which are rocky or have been blasted with dynamite, mined or quarried are also bad news. Even those with greenery and rock together are considered detrimental as they are identified as Sick Dragon (Bing Long), they peak the qi that doesn’t flow well as mentioned in the classics.

Positioning for Success Now let’s take a look at the favorable positions of mountains around a property. Mountains at the back of a house are said to be supportive as they herald security and stability in the home, as well as the family harmony. A mountain on the left of a property is known as the Green Door Embrace (Qing Long Sha) – not to be confused with sha qi. This sha, however, protects the property from violent qi. Usually governing male prosperity in the house, you must ensure that it’s not too near to the property; otherwise, instead of functioning as a protective presence, it becomes suppressive. As such, mountains on the right, also known as the White Tiger Embrace, protects the property from any violent qi. Still, they should be of a moderate distance, and not any higher than the Green Dragon. In terms of directional position, any hill or mountain in the Northeast and Southeast sides of the property will do well as its value increases with time. However, the mountain(s) in the Northeast has faster effect than the one in the South, which takes a longer term of 10-20 years to take full effect. Another important point to take note of is, big buildings are not considered mountains, hence not producing any qi whatsoever. Conclusively, a high-valued property is one that harnesses, sustains and circulates its life force or qi from and throughout its environment. Therefore, know the environment, know your property. Only then will you know the type of qi in your area, because if you don’t know the type of qi in your surrounding, how are you going to tap into the qi?

Joey Yap’s Profile

Joey Yap Consulting Group

Joey Yap is an expert in Chinese astrology services and audits, Classical Feng Shui, BaZi, Mian Xiang and other Chinese metaphysics subjects. For more information, go to

19-3, The Boulevard, Mid Valley City, 59200 Kuala Lumpur, Malaysia. Tel: +603-2284 8080 3 Fax: +603-2284 1218


Step by Step How to apply for

PR1MA & MyFirstHome As prudent property ownership goes, there is nothing that beats doing your homework before a purchase which will involve long-term financial commitment and a substantial amount of savings. Getting professional feedback is also invaluable when it comes to locating the right fit for properties.

In the previous instalments of iProperty Insight, we talked about PR1MA and MyFirstHome (MFH) schemes in general, and the benefits of both schemes to help the middle-income young professionals buy their first home. In this instalment, we take a look at the basic steps one needs to take to apply for the schemes, and why each step is important.

PR1MA homes have a whole different set of requirements compared to PR1MA homes in the other areas of the Klang Valley, so be mindful and make sure there are no loopholes in your eligibility.

Step 1: Check Your Eligibility

The difference between the PR1MA and MFH schemes is that the former already provides you with the house whereas the latter gives you the freedom to choose a home you want, within a designated price ceiling. The beauty about both schemes is that they are only available for first-time home buyers, so that gives the younger generation a chance to make a choice that is truly theirs.

Fine print. We all know it how important it is to read them, because they hold the power of shaping the terms of the agreement. In other words, the fine print contains clauses, terms and conditions that determine the qualification or eligibility for both PR1MA and MFH. Make it a point to check with relevant agencies and offices about the requirements needed by the Government from the applicants, to avoid major disappointment. Please do take note that terms and conditions may vary according to the area, for example, Putrajaya

Step 2: Research Project Locations & Products

One may argue that only with the MFH scheme a home in the Klang Valley can be bought, because the PR1MA homes are located further away from the city. To dispel that notion, many of the PR1MA homes are located in high-growth areas like Ara Damansara, malaysia | 69 Klang, Putrajaya, Sungai Buloh, Seremban and more, so there is no reason to underestimate these locations. In fact PR1MA homes are being developed by some of the nation’s reputable developers like S P Setia, Sime Darby Property, Putrajaya Holdings and the like, which means the quality of the homes will not be compromised, despite their rock-bottom prices. The MFH scheme, on the other hand, allows you to choose from any property in any area of your choice, as long as it is priced at RM400,000 and below. A little bit of research about the pros and cons of both schemes will be able to tell you which one best suits your needs and is most convenient to you. Research is the key to your new home. Step 3: Because Financing Matters As we have mentioned in the earlier articles, there is a certain salary group which can apply for these schemes, so it is important to be within that income bracket before you move on further. The Government as an entity does not provide loans for PR1MA and MFH scheme applicants; however, it does provide financial advice and consultations with a few chosen financial institutions for those who need help. Do check with your preferred banking and financial institution about their requirements and terms for the loan, as they may have additional conditions on top of the ones set by the Government. Do take note that loans are calculated based on net salary now, since January 2012. Also remember that maximum pay-out duration for the loans applied for these schemes is set at 30 years, so consult the right people and obtain accurate monthly payment rates, to reduce interest and maximise your repayments. Those who apply for the PR1MA and MFH schemes are eligible for up to 110% loan from the banks, with the additional 10% covering insurance and the S&P legal fees. The best part is that all successful applicants are exempt from paying stamp duty, and EPF savings can be used to partly help in financing the home.

Step 4: Register & Check Application This applies to the PR1MA homes in particular as the homes for that scheme is built in limited numbers per area. Each PR1MA development would have a certain number of applicants all wanting to purchase the small amount of homes built. The Government chooses the applicants for the PR1MA homes in a fair manner, through balloting; therefore it is wise to register for your dream home in the area that you prefer the soonest you can, and check your application whenever possible to know if it has been approved. Registering is done online, and even in PR1MA’s official website it is stated that potential applicants should check the eligibility criteria to qualify for the project. The Government may also change or add criteria when necessary, so it is important to keep abreast of all news regarding the housing project. For Putrajaya’s PR1MA homes, there is a separate webpage and kiosks for people to apply for the homes. All registering information is available online.

70 | HBA

Amendment to Housing Development (Control & Licensing) Act, 1966 – Part II The Housing Development Act (amendment) Bill was debated in Parliament on 1 December 2011 and HBA was invited to brief the Members of Parliament (MPs) prior to its debate. The National House Buyers Association (HBA) lauds the positive engagement from YB Dato’ Seri Chor Chee Heung, Minister of Housing & Local Government in addressing the cumulative problems faced within the housing industry with the intention of providing further protection to house buyers against errant developers.

Within the parameters of this Act, there were a number of points brought up for discussion, we now turn our focus on refundable deposits and the Sales & Purchase Agreement (SPA). This is the continuation from last month’s first installment. Imposing a 3% Refundable Deposit We are pleased that the Government heeded our call to have Section 6(1) (b) (Conditions or Restrictions for the grant of a (developer’s license) of the Housing Development (Control & Licensing) Act, 1966 (Act 118) to be amended. The Minister recently announced that laws will be enhanced to make the requisite deposit (refundable) from the current RM200,000 to 3% of the Construction Costs. Firstly, we will not even use the word “increase” as it is due to the case of small developers who build a small number of houses in the smaller towns, where total construction cost is RM2 million or less, the RM200,000 that they are currently forking out actually represents over 10%. Thus, the new 3% is actually a vast reduction! Compare this to a big project developer whose construction cost is, say, RM20 million. The present RM200,000 represents a miserable 1%!! Thus, any contention that the 3% will weigh down on the smaller developers is incorrect. The present RM200,000 is flawed because it assumes a “one-size-fits-all” formula, where small developers are compelled to wear the “big size shoes” that clearly do not fit them. The proposed introduction of the 3% formula (HBA’s proposal was for 5% imposition on GDV) is a realistic and a fair figure (and to an extent, a compromised one) because the actual deposit sum is dependent on the size of the project. As to whether the new 3% deposit will curb abandonment, our contention is that it will indirectly reduce such incidences. Developer-aspirants who are financially so weak that they are unable to raise the 3% deposit (which is refundable) should stay out of the industry because the probability of them running into trouble is higher. The increased finance cost to fork out the 3% deposit is negligible when measured against the potential gross development value (GDV). Further, any additional cost (interests) is only incurred during the construction phase because upon project completion, the 3% is fully refunded by the Controller of Housing. In a small way, it also malaysia | 71

“The clause reflects the severity of house buyers’ problems such that it entitles them to terminate the contract of sale after a delay of 6 months after the execution of the Sales & Purchase Agreement�

serves as insurance for the Ministry of Housing & Local Government to have a source of funding in the event of unforeseen eventualities caused by developers where immediate expenses need to be incurred. The havoc created by abandoned projects and the amount of funds made dormant (and in many cases, written off) is far more devastating and adverse than the amount of funds held in refundable security deposits. Project abandonment cannot be totally prevented but the 3% deposit only acts as proof of commitment, seriousness, financial standing and a safety net. The proposed 3% deposit can, to a larger degree, assist in the revival efforts by the Government compared to the present insignificant RM200,000.

The tightening of the Housing Development (Control & Licensing) Act, 1966 which was revised in the years 2002 and 2007 has failed to arrest the problem of abandoned housing projects. The statistics speaks for itself. The situation of Enforcement needs to be tightened up regardless of the amount of security deposit(s) demanded. The 3% deposit represents only a minute factor in the whole risk equation. We would like to state that the proposed 3% is the minimum norm and that Controller of Housing should be empowered to increase this percentage to our proposed 5%, if deemed necessary due to higher risk or whatever other reasons.

72 | HBA

Sec 8A: Statutory Termination of Sales & Purchase Agreement (SPA) The clause reflects the severity of house buyers’ problems such that it entitles them to terminate the contract of sale after a delay of 6 months after the execution of the Sales & Purchase Agreement’. By this amendment, any house buyer would have the equitable right to get out of the agreement which present legislation fails to allow. However, instead of ‘6 months after execution’, it should be, at the least, read as ‘at any continued period of six (6) months during the subsistence of the Sales & Purchase Agreement’. There have been numerous situations where a developer resumes works and then stops for a period of time only to restart to the frustration of the buyers. However, to ensure public confidence in the termination mechanism which among others, requires the Controller’s certification before the homebuyer may terminate the contract, we propose that express provisions on the issuance of the Controller’s certificate is important. This is to ensure that the

certification is issued in a prompt and transparent manner. Another glaring weakness not addressed by the amendment is the question of where can buyers claim back whatever they have paid when a project is abandoned and the developer becomes insolvent? The proposed amendment to Section 8A (1) (c) may be as follows: c) the Controller has certified that the licensed housing developer has refused to carry out or delayed or suspended or ceased work for a continuous period of six months or more after the execution of the Sale & Purchase Agreement in reliance upon any act, omission, failure or neglect of the Developer or documents available to the Controller at the material time. Section 8A (6) – The word ‘lawfully’ in line 1 creates unnecessary confusion and argument. It should not matter whether the Sale & Purchase Agreement was ‘lawfully’ entered or not because we do not wish parties to take advantage of his/ their own wrongdoing.

NATIONAL HOUSE BUYERS ASSOCIATION [HBA] No. 31, Level 3, Jalan Barat, Off Jalan Imbi 55100, Kuala Lumpur. Tel: 03-2142 2225 | Fax: 03-22601803 | Mobile: 012- 334 5676 Email: Web Site:


Singapore The Lion CITYPart II Mention the island nation of Singapore and a whole gamut of emotions spring to mind. We join Prof Joe Choo as she investigates the feng shui elements behind the success and affluence of our neighbor in the South. The Johor-Singapore Causeway is connected to the PanIsland Expressway (PIE) and the Seletar Expressway and these two expressways hug the contour of Bukit Panjang and Bukit Timah respectively. The Seletar Expressway stops at Yio Chu Kang to join the Tampines Expressway that leads to the Changi Airport, with the Central Expressway leading to the CBD and the Raffles district. Meanwhile, the Tuas Second Link is connected to the Ayer Rajah Expressway that goes to CBD and the Raffles district, besides the West Coast and East Coast Highways that are directed to these 2 districts as well. After this study, we found that all the main trunks are channeling energy from all the directions to these two districts, is this a coincidence or is there more?

River of Wealth Now, let us trace the Singapore River to see if and how it could influence the fortunes of the CBD. The location of CBD is exactly on the convex of the Singapore River, as mentioned earlier, the convex part is where the earth energy dissipated. The Barings Bank scandal of 1995 put the CBD in the international spotlight for all the wrong reasons. The oldest merchant bank founded by Sir Francis Barings from London in 1762, the Barings Bank survived both World Wars, but was brought down in 1995 due to unauthorised trading by its head derivatives trader in Singapore – Mr Nick Leeson. Due to commercial decisions, the commercial and banking offices had no choice but to locate their offices on the convex part of the river. According to feng shui principles, the entrance of the building should ideally face the river to tap the earth energy to benefit the dweller. Nonetheless, offices with entrances facing the river do better than those with their backs to the river. The Raffles district sits on the concave part of the river, one of the strongest pools of homogenous earth energy. This district was used by the British colonial administrator for European settlement, hence it was better shaped with good drainage systems and no landfill required too. This is the part of Singapore that has the most human impact and change over the years, whereby land reclamation has pushed the sea boundary malaysia | 75 further out. A series of construction programmes were completed in 1990s to give the district a futuristic cityscape, such as the New Parliament House, the New Supreme Court, the Esplanade, Theatres on the Bay and the Marina. Where Is The Pearl of The Dragon? Singapore consists of 63 islands, including mainland Singapore – shaped like a lozenge; Pulau Jurong, Pulau Tekong, Pulau Ubin and Pulau Sentosa are the largest of Singapore’s many smaller islands. Pulau Jurong is derived from the Malay word means ‘shark’, but it used to be infested with crocodiles, not sharks. It is a backdrop of the industrial parks, petrochemical works, housing estates and some attractions. In previous articles, we mentioned that to provide further protection from strong winds and rain, we can erect a screen or barrier in front of the opening. In this case, Pulau Jurong is the screen or barrier for one of the world busiest port – Jurong Port, situated opposite this island. The boomerang-shape Pulau Ubin is off the northeastern part of mainland Singapore and near Pulau Ketam and Pulau Sekudu, originally called Pulau Batu Jubin (‘Island of Granite Stones’) for its granite hills. The more interesting tale is a legend of how a pig, an elephant and a frog raced to reach Johor from the island. The loser would turn into stone and eventually the elephant and the pig lost. The frog, however did not turn up any better but turned into Pulau Sekudu (‘Frog Island’). The granite mines that supported the settlements in the early days left scars and the grasslands for the nature lover. There isn’t any high land mass to supply earth energy, except for plans from the government to link it to the mainland with bridges. Among the islands, Pulau Sentosa is the only island has benefited from an extreme makeover. Previously known as Pulau Blakang Mati (‘Island of Death from the Back’), no one knows the reasoning behind the grim former name although it is believed to have been a pirates’ camp prior to the arrival of the British.

Pulau Sentosa has aimed to become the Monaco of Asia and today it has lived up to its lofty aims with the most expensive residential properties with a minimum S$3,000 psf, a marina and a destination theme park opened in 2010. Just look at the shape of this island, don’t you think this is a mini Singapore in its landform? Pulau Sentosa also serves as a screen for the Singapore Port, one of the busiest ports in the world. In between the Keppel Harbour and Pulau Sentosa is an island which is used as a cargo terminal, Pulau Brani. This island is connected to the mainland and Pulau Sentosa with Sentosa Avenue and it is protected by the mainland and Pulau Sentosa. If the government built another bridge to link this island to mainland, this is going to be a very precious island, like the pearl of the dragon.

Prof Joe Choo was elected the President of the Malaysian Institute of Geomancy Sciences (“MINGS”) in 2008, a post which she currently holds. She was recently awarded a professorship by the Shanghai Jiao Tong University in China. She acts as consultant to various development projects and is frequently invited as speaker at many government and private property functions. Joe also conducts classes for the Persatuan Architect Malaysia (“PAM”) and the Malaysian Institute of Estate Agents (“MIEA”).



Green in the Kitchen

The kitchen is a wonderful place where meals and memories are made. Being the heart of the home, it is where recipes, laughter and good food are shared. What makes the kitchen and memories in it last for the next generation is a kitchen that is also green. A green kitchen is now a possibility with Signature Kitchen’s new, Go Green, Go Signature campaign. If you are planning a kitchen revamp or have just moved into your brand new space and are looking for a sustainable kitchen solution, considering a green alternative is a very good way to start. When it comes to kitchen planning, the function of the space has to match your lifestyle. So whether you love to cook, cannot bake to save your life or need to pass on culinary skills and recipes to your loved ones, there is a kitchen design that will suit your particular need. Getting a Green Headstart What is even more important than just the design is the function of the kitchen. Having a quality assured kitchen does prolong the lifespan of the worktops, storage parts and all the other components of a highly functional kitchen while reducing the need to replace these components over time. This is where Signature Kitchen’s quality assured kitchens make a difference when planning a kitchen as it comes with the brand’s certification of the ISO9001:2000 in 2003 and ISO9001:2008 in 2020. In addition to that is its Green Label certification by the Singapore Environment Council in 2009. Choosing a Green Label-certified kitchen partner is choosing a business that focuses on sustainability and environmental leadership. In fact, the Eco Label that comes with a Signature Kitchen product is one that is awarded by a neutral third party on products and services that meet specific categorical life cycle considerations.

Efficient Materials & Energy Usage With kitchen design, a large portion of materials are used when producing countertops, worktops, storage doors and other parts of a kitchen. This is the reason why Signature’s proactive stance in minimizing production waste and rejects is one of the items that set them apart. In another effort to reduce energy consumption is the usage of LED lights in Signature’s Kitchen collections. Not only do LED lights help save electricity and energy consumption, they help owners save money in the long run. Signature leverages on its in-depth kitchen design knowledge to suggest energy efficient built-in appliances that enable homeowners the freedom of choice when it comes to saving electricity and consumption. The Makings of a Green Kitchen Ultimately, a kitchen design that comes with the next generation in mind is one that is preferable not only because of sustainable design but responsible attitudes that go behind the design principles. Hence, choosing products that are environmentally conscious will help prolong the lifespan of the kitchen, reduce energy and electric consumption as well as encourage an eco-centric lifestyle. What’s more, it provides the next generation with a signature recipe for sustainable living.

Interior Design

Serviced Office


We provide One-stop renovation package & services in overseeing your house or office renovation from the very start till the end, all customized to your needs, saving you of any hassle or worry: ~Interior Design ~Lighting ~Furniture ~Home Appliances ~Curtain

~Painting ~Cleaning Services ~Any special request by client ~Potential tenants search

Deco More Studio Sdn Bhd

Custom Furniture

Interior Design & Build Consultant

Fax: 603-6201 9900 | Email:

Your One Stop “Made-To-Order” Centre for Quality BURMESE TEAK, MERBAU, NYATUH, WALNUT, ELM & ROSEWOOD furniture We carry wide range of: Craft & Antique Furniture Porcelain Wares Assorted Knick-Knacks No 5, Jln Tun Mohd Fuad Tiga, Taman Tun Dr Ismail, Damansara, 60000 Kuala Lumpur, Malaysia Tel: 03-7728 1000 / 03-7728 4692 | Fax: 03-7728 4692 | HP: 012-322 6103 | Email:


20-3, Jalan 22B/70A, Plaza Crystalville 2, Desa Sri Hartamas, 50480 Kuala Lumpur Tel: 6012-345 2011 ( Project Manager ) 603-6201 3332 ( General Line )


No. 52A-2, Jalan PJU 5/21/ The Strand, Kota Damansara, 47810 Petaling Jaya, Selangor Darul Ehsan. 603-6142 2280 | 016-227 2016 |

One Stop Pool Services Our Services Include: ~ Swimming pool & water features maintenance. ~ Pool rectification works. ~ Supplies pool equipments & fittings.


Custom Furniture Alen Corp Asia Tel: 6013-388 1967

Chin Li Arts & Crafts Furniture Tel: 603-7728 1000

NU-VALE Trading Sdn Bhd Tel: 603-7984 9425

Home Security Falcon Tel: 603-3392 4848 Tel: 012-3117977

Feng Shui Compass Studio 212 Sdn Bhd Tel: 603-7885 8280 Web:

ADT (M) Sdn Bhd Tel: 603-9236 1866

CCTV Security Sensorlink Sdn Bhd Tel: 603-7983 7270

Artset Design Sdn Bhd Tel: 603-6156 3768 Tel: 016-2060198 Guocera Marketing Sdn Bhd Tel: 603-7958 7611 ( Ext 300/231)

AntiPest Management Services Sdn Bhd Tel: 603-8023 1888

KDK Fans (M) Sdn Bhd Tel: 603-7785 5011 Tel: 012-3672333

Roofing Monier Sdn Bhd Tel: 603-2176 0600


Alisma Dynasty View Sdn Bhd Seri Austin, Johor Double storey Terrace/Link House

which are gated and guarded residential projects. Launched in April 2010, prices of Alisma houses start from RM306,800 and it is anticipated to be completed in February 2012. The project consists of 180 units, comprising Section 1 (44 units), Section 2 (60 units) and Section 3 (76 units). The 20’ x 70’ double storey terrace houses, Alisma 1 & Alisma 2, come with comfortable built-up of 1,782 sq ft and 1,889 sq ft respectively. Also recently launched are 32 units of Azolla 1 22’ X 75’ double storey terrace houses with built up of 2,028 sq ft price from RM338,800. Early birds get special package with huge savings.

Developed by UMLand Berhad’s wholly-owned subsidiary Dynasty View Sdn Bhd, Taman Seri Austin in Johor occupies 500-acres of prime freehold land that is situated within Iskandar Malaysia and the popular Tebrau Area. Taman Seri Austin boasts excellent accessibility via the North-South Expressway, Dato’Onn Interchange, Pasir Gudang Highway and Tebrau-Kota Tinggi Highway. Currently, it only takes a 30-minute drive to get to the Johor Bahru city centre but this travel time would be cut short by half when the RM977 million Eastern Dispersal Link Expressway (EDL) is completed.

Both Alisma and Azolla are properties located at Phase 3 development equipped with Telekom Malaysia (TM)’s latest High Speed Broadband (HSBB) UniFi service Package VIP 5 which includes internet, video (IPTV), and voice with speed of 5Mbps via fiber technology. As a value promotion, all home buyers at Phase 3 will enjoy 2 years free service of HSBB. Taman Seri Austin is the first residential township in Southern Johor to collaborate with TM in offering HSBB.

Further Information: Seri Austin Sales Gallery Jalan Seri Austin 1, Taman Seri Austin Johor Bahru, 81100 Johor. Tel: (607) 354 1111 Fax: (607) 351 3202 Email: Web:

Currently, Dynasty View has three ongoing projects in Taman Seri Austin namely Amanda, Alisma and Azolla

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 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. 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 with modern lifestyle features such as underground external electrical

and telecommunication services facilities. 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, doublestorey 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

2nd Series

Further Information: 34, Jln Seri Putra 1/2, Bandar Seri Putra, Bangi 43000 Selangor Tel: (603) 8927 1611 / (603) 8925 4972 Email: Web:

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Nadayu28 Bandar Sunway Residences

Vue Residences

Location: Bandar Sunway, Petaling Jaya, Selangor Property Type: Condominium Land Title: Residential Tenure: Leasehold Built Up: 990 - 1,850 sq ft Listing Price: From RM702,000 - RM1,360,000 Developer: Jurus Positif Sdn Bhd (633933-V) Phone: (603) 2141 5775 Fax: (603) 2141 5776 Website:

Location: Jalan Pahang, Kuala Lumpur Property Type: Serviced Residence Land Title: Commercial Tenure: Freehold Land Area: 2833 sqm Built Up: 500 - 1,003 sq ft Listing Price: From RM371,600 Completion Date: Dec 2013 (Expected) Developer: Tanah Perangsang Sdn Bhd (538766-X) Phone: (6016) 229 5168 Fax: (603) 5637 9370 Website:

Laman Ceylon

Icon Residence

Location: Jalan Ceylon, Kuala Lumpur Property Type: Serviced Residence Land Title: Commercial Tenure: Freehold Built Up: 624 - 1,604 sq ft Listing Price: From RM701,800 - RM1,890,000 Completion Date: End 2014 (Expected) 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 Acre Built Up: 887 - 4,716 sq ft Listing Price: From RM1,200,000 Completion Date: 3 Years from SPA Date (Expected) Developer: Maxim Heights Sdn Bhd (747466-P) (A subsidiary of Mah Sing Group Berhad) Phone: (603) 6205 9888 Fax: (603) 6205 9999 Website:


NC Project Name: The Loft - ZetaPark Location: Setapak, Kuala Lumpur Property Type: Serviced Residence Land Title: Commercial Tenure: Leasehold Built Up: 689 - 1,410 sq ft Listing Price: From RM399,800 - RM815,800 Completion Date: 2014 (Expected) Developer: ZetaPark Development Sdn Bhd Phone: (019) 354 2734 / (603) 4143 1286 Fax: (603) 4143 1287 Website:

NC Project Name: Flexis @ One South City: Seri Kembangan, Serdang, Selangor Property Type: Soho Land Title: Commercial Tenure: Leasehold Listing Price: From RM256,564 Completion Date: May 2015 (Expected) Developer: Prop Park Sdn Bhd (70874-H) Phone: (603) 8945 8878 Fax: (603) 8945 8871 Website:

Project Name: Zefer Hill Residence Location: Puchong, Selangor Property Type: Condominium Land Title: Residential Tenure: Freehold Land Area: 5.768 Acres Built Up: 1,356 - 2,139 sq ft Completion Date: April 2015 (Expected) Developer: Villamas Sdn Bhd (204369-V) Phone: (603) 8076 7606 (Sales Gallery) (603) 7880 0033 (Villamas Sdn Bhd) Fax: (603) 7804 8913 Website:

Project Name: Calisa Residences Location: Puchong, Selangor Property Type: Serviced Residence Tenure: Leasehold Built Up: 775 - 1,055 sq ft Listing Price: From RM221,760 - RM366,960 Developer: Masteron Sdn Bhd (79429H) Phone: (603) 8068 1977 Fax: (603) 8060 0666 Email:



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Project Name: 90째 Residence 1 Location: Selangor Science Park 2, Cyberjaya, Selangor Property Type: Serviced Residence Land Title: Commercial Tenure: Leasehold Land Area:2 .85 Acres Built Up: 535 - 921 sq ft Listing Price: From RM253,888 Completion Date: March 2013 Developer: PKNS (Perbadanan Kemajuan Negeri Selangor) Phone: (603) 5520 1406 Website:


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NC Project Name: Altitude 236 @ Bukit Manda'rina Location: Cheras, Kuala Lumpur Property Type: Condominium Land Title: Residential Tenure: Leasehold Built Up: 1,389 - 2,820 sq ft Listing Price: From RM642,000 Completion Date: Oct 2014 (Expected) Developer: Manda'rina Sdn Bhd Phone: (603) 9100 2020 Fax: (603) 9100 4476

Project Name: Azelia Residence, Damansara Avenue Location: Sri Damansara, Kuala Lumpur Property Type: Serviced Residence Land Title: Commercial Tenure: Freehold Land Area: 3.13 Acres Built Up: 614 - 3,433 sq ft Listing Price: From RM351,000 - RM2,771,600 Completion Date: May 2014 (Expected) Developer: TA Global Berhad (828855-P) Phone: 1800 88 8082 Fax: (603) 6275 7211 Website:

Project Name: Atria SOFO Suite Location: Damansara Jaya, Kuala Lumpur Property Type: Sofo Land Title: Commercial Tenure: Freehold Built Up: 500 - 1,000 sq ft Completion Date:2015 (Expected) Developer: Atria Damansara Sdn Bhd (OSK Property Hld Berhad) (760671-P)

Phone: (603) 2161 3322 / (017) 2062 318 Fax: (603) 2175 3216 Website:


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Project Name: Sunway Eastwood Location: Seri Kembangan, Selangor Property Type: Semi-detached House Land Title: Residential Tenure: Leasehold Land Area: 3,200 sq ft Built Up: 3,321 - 3,972 sq ft Listing Price: From RM1,650,000 - RM2,290,000 Total Units/Lots: 118 Bumi Discount: 7% Completion Date: Dec 2014 (Expected) Developer: Sunway Eastwood Sdn. Bhd. Phone: (1800) 222 988


NC Project Name: The Park @ Bukit Serdang Location: Selangor Property Type: Semi-detached House Tenure: Freehold Land Area: 40’ X 80’ Built-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: (016) 213 2163 Website:

NC Project Name: Aquina - Phase 1E Location: TTDI Alam Impian, Shah Alam, Selangor Property Type: 2-sty Terrace/Link House Land Title: Residential Tenure: Freehold Built-up: From 2,476 sq ft Listing Price: From RM606,000 - RM1,497,000 Completion Date: 2013 (Expected) Developer: TTDI Land Sdn Bhd Phone: (012) 5266 551 / (603) 5101 5600 Fax: (603) 5511 1990 Website:

Project Name: Aveda [Phase 6] Location: Taman Desa Mas, Rawang, Selangor Property Type: 2-sty Terrace/Link House Land Title: Residential Tenure: Leasehold Land Area: 20' x 65' Built Up:1 678 - 1,756 sq ft Listing Price: From RM288,000 - RM400,000 Completion Date: October 2013 (Expected) Developer: Desa Mahumas Sdn Bhd Phone: (603) 6093 3118 / (016) 692 0700 / (013) 382 6177 Website:


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Project Name: Sunway Surian Avenue Location: Dataran Sunway, Kota Damansara, Petaling Jaya, Selangor Property Type: 2 Storey Shop Office Land Title: Commercial Built Up: 7,950 sq ft Listing Price: RM5,493,000 Status: Completed With CF Developer: Sunway Damansara Sdn Bhd (179182-V) Phone: (603) 6141 6888 Fax: (603) 5639 9955 Website: Last Corner Unit For Sale


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NC Project Name: Arc 10 Location: Bandar Puchong Utama, Puchong, Selangor Property Type: 3 Storey Designer Factories Land Title: Industrial Tenure: Freehold Built Up: 8,606 sq ft Listing Price: From RM4,900,000 - RM5,400,000 Developer: Bukit Hitam Development Sdn Bhd (203394-W) Phone: (1300) 88 3888 / (603) 8068 3388 Fax: (603) 8068 1311 Website:

Project Name: Dua Sentral Location: Jalan Tun Sambanthan, KL Sentral, Kuala Lumpur Property Type: Hotel/Resort Land Title: Commercial Tenure: Freehold Built Up: 872 - 6,352 sq ft Listing Price: From RM706,800 - RM5,300,000 Completion Date: End 2011 (Expected) Developer: Magic Coast Sdn Bhd (709379-M) Phone: (603) 2282 7297 / (603) 2282 7295 Fax: (603) 2282 7286 Email:

Project Name: Lake 6 Entrepreneurs' Park Corporate Factories Location: Taman Meranti Jaya, Puchong, Selangor Property Type: Factory Land Title: Commercial Tenure: Leasehold Built Up: 5,465 - 9,600 sq ft Listing Price: From RM2,598,000 - RM4,560,300 Completion Date: 3rd Quarter 2014 (Expected) Developer: Mitraland Puchong Sdn Bhd (433421-X) (Formerly known as Firasat Bijak Sdn Bhd)

Phone: (603) 6204 0818 Fax: (603) 6204 0868



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NC Project Name: Ativo Plaza (Phase 1G) @ Damansara Avenue Location: Bandar Sri Damansara Property Type: Signature Office Suites Land Title: Commercial Tenure: Freehold Land Area: 5.73 Acres Listing Price: From RM267,000 - RM2,030,000 Developer: TA Global Berhad (828855-P) Phone: 1800 88 8082 Fax: (603) 7725 6319 Website:

NC Project Name: Sunway Velocity Office Suites Location: Kuala Lumpur Property Type: Shop-Office Land Title: Commercial Tenure: Freehold Land Area: 22 Acres Listing Price: From RM1,300,000 - RM3,200,000 Developer: Sunway City Berhad (Velocity) (87564-X) Phone: (603) 9205 5500 / (603) 5639 9000 Fax: (603) 5639 9955 Website:

Project Name: Sunway 27 Square Location: Sunway Kayangan, Shah Alam, Selangor Property Type: Shop-Office Land Title: Residential Tenure: Leasehold Land Area: 22' x 80' Built Up: 3,080 - 5,283 sq ft Listing Price: From RM795,000 - RM1,547,000 Developer: Sunway Monterez Sdn Bhd (531944-H) Phone: (603) 5639 9000 / (6019) 220 3103 Fax: (603) 5634 0540 Website:

17 59

17 42


18 35

NC Project Name: West Meru Industrial Park Location: Meru, Selangor Property Type: Factory Land Title: Commercial Tenure: Freehold Land Area: 37,039 sq ft Built Up: 25,317 sq ft Listing Price: From RM6,588,000 - RM7,250,000 Developer: Kemas Properties Sdn Bhd Phone: (603) 7847 2598 / (6012) 671 1672 Fax: (603) 7847 3598

19 41


Project Name: Ivory Villas (Type D) Location: Perdana College Heights, Nilai, Selangor Property Type: Semi-detached House Land Title: Residential Tenure: Freehold Land Area: 50'x100' Built Up: 2940 sq ft Listing Price: From RM704,045 Completion Date: July 2012 (Expected) Developer: Seri Pajam Development Sdn Bhd (291244-M) Phone: (606) 758 1988 Fax: (606) 759 4788 Website:

Project Name: Fashion Xchange @ The Summit Batu Pahat Location: Batu Pahat, Johor Property Type: Retail Space Land Title: Commercial Tenure: Freehold Land Area: 300,000 sq ft Built Up: 182 - 1,463 sq ft Listing Price: From RM180,000 - RM1,680,000 Completion Date: 2011 Developer: Summit Parade Sdn Bhd (16347-X) Phone: (603) 8024 8866 Fax: (603) 8023 7128 Website:

Project Name: Belleza Garden Homes Location: Kolej Heights Utara, Jitra, Kedah Property Type: 2 & 3 Storey Garden Homes Land Title: Residential Tenure: Freehold Land Area: 1,760 sqft Built Up: 2,152 - 2,515 sq ft Listing Price: From RM280,000 - RM560,000 Completion Date: Dec 2012 (Expected) Developer: College Heights Utara Sdn Bhd (274629 –U) Phone: (604) 714 2811 / (6019) 600 1522 Fax: (604) 714 1126 Website:

Project Name: Zone Seri Margosa - Phase 1.6 Location: Bandar Seri Botani, Perak Property Type: 2-sty Terrace/Link House Land Title: Residential Tenure: Leasehold Land Area: 18' X 60' Built Up: From 1,330 sq ft Listing Price: From RM175,000 - RM 313,404 Developer: Pinji Botanics Sdn Bhd (121074-A) Phone: (605) 323 6622 Fax: (605) 323 6633 Website:




21 24

20 26

20 67


21 17


Project Name: D’Ambience Residence Serviced Apartments Location: Bandar Baru Permas Jaya, Johor Bahru, Johor Property Type: Serviced Residence Land Title: Commercial Tenure: Freehold Land Area: 10.4 Acres Built Up: 513 - 1,414 sq ft Listing Price: From RM192,800 - RM458,800 Completion Date: 2014 (Expected) Developer: Ikatan Flora Sdn Bhd


21 76

(IJM Land Berhad) (649603-A)

Phone: (607) 388 9333 Fax: (607) 386 6066 Website:


Project Name: Meru Valley 2 Storey & 2 1/2 Storey Detached Homes Location: Meru Valley Resort, Ipoh, Perak Property Type: Bungalow House Land Title: Residential Tenure: Leasehold Land Area: 6,490 - 8,051 sq ft Built Up: 3,410 - 3,830 sq ft Listing Price: From RM1,019,800 - RM1,175,800 Completion Date: November 2013 (Expected) Developer: Meru Valley Resort Berhad (137970-D) Phone: (605) 292 1333 Fax: (605) 291 7333 Website:


Project Name: Taman Lavender Location: Kuala Kangsar, Perak Property Type: 2-sty Terrace/Link House Land Title: Residential Tenure: Freehold Land Area: 20' x 70' Built Up: 1,620 - 1,858 sq ft Listing Price: From RM238,888 - RM358,888 Total Units/Lots: 39 Completion Date: December 2012 (Expected) Developer: Noble Homes Sdn Bhd (209834-A) Phone: (605) 249 8621 Fax: (605) 249 8623


Project Name: Nilai Springs Heights Location: Putra Nilai, Nilai, Negeri Sembilan Property Type: 2.5-sty Terrace/Link House Land Title: Residential Tenure: Freehold Land Area: 26' x 85' Built Up: 3,439 sq ft Listing Price: From RM738,000 Developer: BBN Development Sdn Bhd (227643-K) Phone: (606) 850 1888 Fax: (606) 850 1818 Website: Fre e h o l d | Ga t e d

Fre e h o l d | Ga t e d

23 02

23 12

23 07


How is the

Penang Property Market Doing? In what is perhaps the most exciting property market yet, the Penang property market holds its own intricacies and challenges that are unique to the state. Whether on the island or the mainland, Chan Ai Cheng turns to Dr. Teoh Poh Huat, of Henry Butcher Penang to delve on the latest news and views in the Pearl of the Orient. iProperty (Ai Cheng): What are your views on the general market sentiments in Penang? Dr. Teoh Poh Huat (Henry Butcher): Despite the overall gloomy international economic outlook with fears of a double dip recession in the US and the continuing eurozone debt crisis, economic growth in Malaysia is expected to remain stable, with projected gross domestic product (GDP) of between 4% and 5% due to robust domestic demand. Similar to previous years, in 2011 the residential sector retained the lion’s share of the property market in Penang in terms of total value and volume of transactions. This trend is expected to remain for 2012.

iP: How will 2011 be different from 2012? TPH: While 2012 is expected to have less buzz compared to 2011, conventional wisdom among astute investors dictate that buying properties in choice locations in Penang are still the preferred mode for wealth creation. However, compressed yields on the back of an anticipated capital growth will continue to dominate investment decisions. The euphoria in the property market during the first half of 2011 is unlikely to prevail although consumer confidence in Penang’s residential real estate remains high. Sentiments are anticipated to remain cautiously optimistic whilst the general propensity for property investments is still strong for residential homes not

Value of Property Transactions in Penang 2011 5000 4000 3000

2011 P Q3 2011

2000 1000 0 Residental


Source: Napic/Henry Butcher Malaysia (Penang) Research


Others malaysia | 101 One of the lowest priced in the region Indonesia Malaysia Philippines Vietnam Thailand Cambodia China Taiwan Singapore India Japan Hong Kong






Source: Global Property Guide

only in the traditionally preferred locations but also for homes of high quality specification, finishes, good security features and facilities. A Foreign Love Affair iP: What about foreign ownership of Penang properties? TPH: On the back of a good mix of euphoria and controversy, the Penang diasporas and the international community particularly from Singapore, Indonesia, Hong Kong, Japan and UK constitute significant components of the market.

Site in 2008. Since then, the demand for pre-war properties with heritage characteristics in the inner city of George Town has outstripped supply. Wealthy local and foreign investors have made a beeline for such properties and have mostly converted them into boutique hotels cum cafes although some have been restored for dwelling purposes. For example, houses located within an established heritage enclave such as Love Lane, Armenian Street, China Street, Muntri Street, Stewart Lane etc are very much in demand. Breakdown of the Residential Sector

MM2H participants and retirees have identified Penang as a preferred destination of choice due to its low cost and high standards of living, widely spoken English language, the availability of an international standard health care system, political and economic stability, and is disaster free either natural or manmade. Penang Island has endeared itself as a destination for a second home and is sometimes being compared to Hua Hin of Thailand. In fact, Penang property prices are amongst the lowest in the region and this has made it attractive for foreigners to invest in Penang Island properties. Foreigners currently comprise less than 8% of the total residential property buyers in Penang. This segment of the market is expected to grow in tandem with the “new normal” of Penang endearing itself to the international community as a tourism, retirement and second home paradise. iP: What are the reasons that drive this international interest? TPH: Penang’s living cultural heritage and well preserved heritage buildings have led to George Town being accorded a UNESCO World Cultural Heritage

iP: Tell us more about the residential offerings in Penang TPH: The majority of the current supply of residential properties in Penang Island is mostly stratified. Landed properties constitute approximately 16% of the total supply in the North East District, while in the South West District they are approximately 56%. Future supply sees an almost similar trend. iP: What about the profiles of the current batch of developers in Penang? TPH: KL-based property developers have set their sights on Penang Island and this is seen as a vote of confidence for the local real estate scene. However, procuring suitable land banks in Penang remains a major challenge. Notable future projects coming on stream are as follows: • Ivory Properties Group recently previewed The Wave @ Penang Times Square • Ivory Properties Group Bhd has a joint venture with Dijaya Corporation Bhd to develop 103 acres of

102 | CHAN AI CHENG Penang Island : House Price Index for Terrace Houses 250

Residential Properties have gone up in value over the years, as can be seen in a typical 1970’s two-storey terrace house in Green Lane

200 150 100







50 0 19







2 00


3 00







1 1 8 09 010 01 P 07 0 2 Q 20 20 20 2

Source: Napic/Henry Butcher Malaysia (Penang) Research

super-prime Bayan Mutiara sea-front land with an estimated GDV of RM10 billion. • S P Setia plans to launch four new residential projects i.e. Setia Greens in Sg Ara, 11 Brook Residences in the upmarket Jesselton enclave, Setia V Residences at Gurney Drive and the Pearl Villas in the Setia Pearl Island scheme. These projects are worth an estimated total GDV of RM546 million. • 2nd Phase of the Seri Tanjung Pinang Project by Eastern & Oriental Bhd with an estimated GDV of RM12 billion. • Andaman Series by E&O Bhd with a majority of the units facing the sea. • IJM Land Bhd is reclaiming 103 acres of land for the development of an RM5 billion mixed development project.

5 Years 14 Years

RM850,000 RM450,000 RM200,000

14 Years 1978


Source: HB Research

iP: With so many projects, surely there is a preference for house type? TPH: Compared to the various housing types, the best performing sub-market is the terrace house. Prices in Penang Island have appreciated significantly. This has made terrace houses the most sought-after form of property investment on the island. However, most terrace houses are under owner occupation as rental yields are low. The above is a good example of a two-storey terrace house located in Green Lane that has appreciated by an astounding 795% over a 33 year period. The general perception is that this form of investment is an excellent hedge against inflation. iP: In conclusion, what can we expect to see from the Penang property market? TPH: The conclusion that we have arrived at after our survey includes the following: • Penang’s residential market will continue to be buoyant for 2012

• By The Sea by Selangor Dredging Bhd • Shorefront by YTL

• Price increases will be at a more gradual pace as Bank Negara’s policies to curb property speculation will help cool price increases

• Nadayu 290 by Nadayu Properties Bhd. • Berjaya Land Bhd (BLand) has signed a conditional Sales & Purchase Agreement (SPA) with the Penang Turf Club to acquire 57.3 acres of prime freehold land for RM459 million to be used for the development of high-end residential projects, comprising semi-detached homes, bungalows, condominiums and apartments with an expected GDV of RM1.52 billion. • Sunway Property recently launched the Sunway Aspera 2-storey terrace homes in Sungai Batu.

• Innovative financing packages – low interest rates will assist buyers especially first time home buyers • Demand remains strong for residential property • Strong demand for well located & conceptualized condo developments • Asset bubble not likely to develop.

This article is contributed by Henry Butcher Malaysia (Penang) Sdn Bhd. All Copyrights Reserved.

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

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Real Property Gains Tax (RPGT) & the Property Owner The 2012 Budget unveiled on 7 October 2011 included a revision of the Real Property Gains Tax (RPGT) rate from the 5% to 10% as part of the Government’s efforts to curb property speculation. The increase was recently gazetted and took effect from 1 January 2012 onwards. Jennifer Chang studies the impact of this move on property purchasers. The rate of 10% applies to gains on properties held and disposed within two years while gains on properties held and disposed between two and five years will be levied a 5% RPGT rate and disposals after five years continue to be exempted from RPGT. RPGT is a form of capital gains tax that is chargeable on gains arising from the disposal of real property, which is defined as: • Any land situated in Malaysia and any interest, option or other right in or over such land; or • Shares in a real property company. Anyone disposing of real property in Malaysia - whether a resident or non-resident - will be charged RPGT on the gains.

Evolution of RPGT A tax on property was introduced in 1974 under the Land Speculation Tax Act. This was subsequently replaced with the Real Property Gains Tax Act in November 1975. Although in existence since the mid70s, the Government pro-actively adjusted the rates of the RPGT through the years to cater to the property market conditions. It’s natural for most people to react to the reintroduction of RPGT, having enjoyed full exemption for a few years previously, however, compared to the original rates of RPGT which range up to 30%, the recent hike of up to 10% is actually quite mild.

Broaden tax base

Curb property speculation

Land Speculation Tax Act


5% RPGT or Nil RPGT if disposal after 5 years

Real Property Gains Tax Act

Nov 1975

1 Jun 2003 to 31 May 2004 [No RPGT]

Disposal within 2 years Disposal in 3rd year Disposal in 4th year Disposal in 5th year Disposal after 5th year *For Malaysian individuals only

Curb property specualation

1 Apr 2007 to 31 Dec 2009 [No RPGT] 30% 20% 15% 5% 0*

10%, 5% or Nil RPGT

1 Jan 2012 malaysia | 105 Impact on the Malaysian Property Owner

What else do I need to know about RPGT?

The disposal of a property takes place upon the signing and execution of a Sales & Purchase Agreement (SPA). The date of the SPA is significant, being the deadline to file RPGT returns and tax payments are based on SPA date. For example, the acquirer will need a 2% retention of the disposal price to be paid to the Inland Revenue Board of Malaysia (IRB) as part of a withholding mechanism on behalf of the seller of property and such withholding and filing of notification of disposal needs to be submitted to the IRB within 60 days from the date of SPA.

Innovative property owners who have parcelled their properties in companies also need to be aware that the sale of shares in such companies may trigger RPGT. Remember, the definition of real property includes shares in a real property company, of which a substantial portion of their assets are properties.

In conditional contracts which require Government consent, the date of disposal can shift to a later date than the SPA. Hence, the date of disposal shall be the date when Government consent has been obtained. Exemptions applicable to property disposals for a Malaysian individual include: • An amount of RM10,000 or 10% of the chargeable gain (whichever is greater). • Gain arising on disposal as a result of compulsory acquisition of property under law. • Gain made by an individual who is a Malaysian citizen or permanent resident on one private residence. • Gift made to the Government, State Government, local authority or approved charity. • Gift between family members (e.g. parent and child or husband and wife). Of importance is the fact that RPGT applies when property ownership is seen to be long-term capital. Where ownership is speculative, the IRB may view the disposal as revenue and seek to levy income tax instead. Income tax is levied at 25% for companies and up to 26% for Malaysian individuals. Of course, compared to income tax, the RPGT is preferable. However, what is capital and what is revenue can be subjective and may depend on the property ownership and the taxpayer’s profile. For example, the sale of a residence after five years of ownership is more likely a capital transaction. On the other hand, the sale of an empty plot of land just subdivided for a project is likely to be treated as revenue.

Case STUDY On 20 April 2010, Mr X purchased a house for RM2.5 million. Today, an interested buyer offered him RM3.5 million for the same house. RM Selling Price 3,500,000 Acquisition Price 2,500,000 Gain 1,000,000 Exemption (higher of RM10,000 or 10% of gains) (100,000) Chargeable gain


If Mr X had sold his property before the end of 31 December 2011, he would have had to pay only RM45,000 for RPGT (at 5%). However, as the property is being disposed after 1 January 2012 (i.e. within 2 years of purchase), the RPGT rate levied is at 10% instead, which amounts to RM90,000. In this case, what Mr X can do is to defer the sale and sign the SPA after 20 April 2012 as the RPGT rate would then be 5%.

The hike in RPGT rate from 5% to 10% is seen to be moderate and it is important to note that regionally, Malaysia is quite competitive. Countries such as the UK, Australia, New Zealand, Japan, Korea and India have some form of capital gains tax regime which could later extend to other types of assets as well. However, for some of our neighbours such as Singapore and Hong Kong, there is no capital gains tax regime on properties sold by resident individuals. We do hope that eventually, the RPGT rate in Malaysia will be relaxed, especially for Malaysian individuals.

Article contributed by Jennifer Chang, a Senior Executive Director with PricewaterhouseCoopers Taxation Services. She is a member of the Institute of Chartered Accountants in Australia, the Securities Institute of Australia and International Fiscal Association. Her extensive tax and financial services experience both in Australia and Malaysia enables her to regularly advise clients on various tax matters including income tax, real property gains tax, stamp duty, service tax, applicable tax incentives and double tax treaties. She can be contacted at



Property Investment Returns Through BLR Management Property investment has been hailed as the best wealth-generating asset class since the previous generation. This is reflected in the perception of real estate as a unique wealth preserver and a hedge against inflation. Therefore, maximizing capital yield and wealth through properties depends on how well you manage the mortgage loan. Mortgage loan mismanagement, will cause borrowers to bear higher purchase costs from property investment, negating the benefits of property investment. Generally, our mortgage loan is subject to a package interest rate offer by lenders. The interest rate is made up of two components - the BLR and the Spread (Margin). The formula is as following:

Interest Rate = Base Lending Rate (BLR) + Spread (Margin)

While the loan’s spread or margin is usually fixed by the lender, (e.g. the Bank) at +1% or -2%, the BLR is a changing variable, and is usually overlooked or not fully understood by most borrowers. In Malaysia, the BLR takes into account the institutions’ cost of funds and other administrative costs related to the loan and is an adjustable figure.

Fluctuation of BLR affects our loan repayment but most don’t realize its actual effect. For those whose mortgage loans are taken up at a lower BLR compared to the current BLR at 6.6% and have yet adjusted their monthly repayment amount accordingly, their loan tenure can be extended up to the same repayment amount. The prolonged loan tenure will then increase the cost of owning the property at the end of the day.

Adjustment to the BLR is made almost simultaneously among all banks nationwide, usually during the time in correlation to the adjustments of the Overnight Policy Rate (OPR), determined by Bank Negara Malaysia during its Monetary Policy Meeting. From the record, it shows that the highest BLR Malaysia ever had was 12.27% in year 1998 and the lowest BLR is 5.55% in year 2009. The current BLR is at 6.6%.

In 2010, most experts foresee an uptrend for BLR that will lead to higher rates of Non-Performing Loans (NPL). With more defaults potentially leading to an increased number of bankruptcies, BNM’s steps ensured household debt do not go out of hand with its new loan rules effective from January 1, 2012. Their prescription included clarifying the implications to borrowers on their loan payments when base lending rates change, requiring banks to make assessments of a borrower’s ability to afford loans based on a prudent debt service ratio as inputs to their credit decisions and restricting the third housing loan margin by not exceeding 70% of the purchase price.

Protecting Against Fluctuation malaysia | 107 Realizing this situation, AceScube has devised an accurate and legally assured form of assistance to loan borrowers. The uniqueness lies in their proprietary Slash Interest Methodology (SIM) which not only guarantees 99% accuracy in interest saving but pertinently, slashes loan tenures by half. With slight adjustments made to the monthly repayments, borrowers stand to save thousands a year on interest alone.

Tenure No. Of Installment Paid





Balance Installment Payable



*After Adjustment of BLR (increases) 423


Case Study*

No. of Installments Enhanced Due to BLR Changes


Mr Tan purchased a condominium for investment in 2009 with a mortgage loan offer as below: Loan Amount: RM 258,000 Interest rate: BLR-2.2% (Current BLR was 5.55%)


From 5.55% to 6.30%


Monthly Repayment x RM 1,138 Loss of interest RM 87,626 INTEREST SAVING & RENTAL GAIN: BLR FROM 5.55% to 6.3% Description

Months Total Payment Total Interest




212 RM 369,000.00 RM 113,000.00


211 RM 114,000.00


X RM 1,300

RM 483,000.00

RM 227,000.00

Loan Tenure: 30 years RM 114,000.00

Monthly Repayment: RM 1,138.00 For the past few years, Mr. Tan made prompt payment every month according to the amount stated in the Letter of Offer. However, he felt uncomfortable with the remaining outstanding balance from the bank statement received at the start of 2011. He couldn’t figure out why he had the same outstanding balance for the past six months despite prompt monthly repayments. With the BLR Management System, a professional mortgage loan consultancy service, he found that the major reason for the non-reducing outstanding balance was due to increase in BLR. As of March 2011, the BLR was 6.3%, adjusted 3 times from 2009. With AceScube’s analysis and verification, his loan tenure had been extended by 77 months with an added amount of RM 87,626 in loan interest. In fact, if BLR to-date is 6.6%, what is the actual loss for Mr. Tan? What is the actual tenure to settle the mortgage


RM 274,300 RM 388,000.00

loan? With the following 30 years, what is the prediction of BLR with the highest record at 12.27%? With the BLR Management System, Mr. Tan’s loan tenure is no longer affected by the fluctuation of BLR. In the meantime, he could slash the loan’s total interest and tenure by 50% without affecting his liquidity. By way of the Slash Interest Methodology (SIM), the total loan interest and tenure can be slashed with accurate monthly repayment amounts and dates. By following the ledger generated from SIM, Mr. Tan’s first repayment amount is RM 1,390.75 with an adjustment of extra or less between RM 1 to RM 15 for the rest of the months. With the savings of 211 months, Mr. Tan is collecting nett rental yield with no interest served for the mortgage. With the continued monitoring and update of the SIM ledger subject to BLR, Mr. Tan’s property buying cost has a guaranteed 50% savings rate and a higher rental return.

*All charts and information illustrated is only for reference.

This article is contributed by AceScube, which provides training in loan calculation, banking and finance knowledge and other business and communications know-how for entrepreneurs. For more information on starting a business with them, you may drop them an email at to find out more about BLR Management.

Contact iProperty

For more information, +603 22646888 or email


Kim Realty

MIP Properties




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:

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’. 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: Web:

Whether you’re looking for a home for your family or an investment; seeking high-value returns on rentals or property sales, MIP Properties is the ONE NAME everyone TRUSTS to get the perfect home at the perfect price. Through our emphasis on high standard of service, professionalism, integrity and approachability, we have built strong relations with home owners and property investors that ensure our property database is unmatched in reach and comprehensiveness. Your successful future starts today! A career at MIP Properties is about opportunities, rewards, growth, learning, partnership and harmony. To apply or for more information on the most rewarding professional experience in the ever-dynamic and lucrative real estate field, send an email to Tel: (603) 6141 8619 | Fax: (603) 6140 8619 Email: Web:

Metro Homes Sdn Bhd E(1)0228 Metro Homes is the leading real estate agency in Malaysia with 16 years track record and 13 offices Nationwide, 11 branches in Klang Valley, 1 in Penang and 1 in Kota Kinabalu, Sabah. Metro Homes have several departments that focus on High-end Properties, Industrial division, Commercial Division, Islamic division, Auction Properties, Project Marketing, International Sales and Australia Properties Division. To join us as Real Estate Negotiator, Senior Negotiator, Team Leader, Resident Manager, please call us for a rewarding career! Tel: (603) 7784 6088 Fax: (603) 7783 4767 Email: Web:

Chester Properties Sdn Bhd

Well Properties



Started in 2006, Chester Properties Sdn Bhd (CPSB) has successfully established within a very short time period from a single-office entity in Kota Damansara to multiple branch offices in Desa Sri Hartamas, Bangsar, and all the way to Gangnam-gu, Seoul, South Korea. CPSB provide an intensive training facility at Chester Training Centre Sunwaymas to equip our negotiators with an on-going training, professionalism and learning culture. Being awarded Service Provider of The Year 2009 in Business of The Year 4th Award by SMIs & SMEs Business Award, this has proved that we are one of the best real estate agencies in Klang Valley. Come join us as Real Estate Negotiator: Tel: (603) 6142 6000 | (603) 6201 3933 | (603) 2284 6991 | (603) 7804 7686 Fax: (603) 6142 6111 | (603) 6201 2133 | (603) 2284 7991 | (603) 7804 4686 Email:

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: Web:

Danny Cheang Handphone: +6012-277 5778 or +6012-214 8213 GS REALTY SDN BHD

BLUWATER ESTATE MINES RESORT CITY SERI KEMBANGAN Signature master piece of lake front Virgin bungalow land. Imagine to fully explore this 25,000 sq feet of prime land to build your own dream home or castle with yacht park at your own private jetty. Please view to appreciate & offer....

COUNTRY HEIGHTS KAJANG Lot No: 568 Masterpiece Signature lot Bungalow Freehold. Land Area 20000 sq ft , Built Up 23500 sq ft. Front and Back breathtaking Lake View. Sale from 10 million. Many other choices sale from 5 to 6 million onwards. Danny 012-277 5778.

BLUEWATER ESTATE Lot no 24, Brand new bungalow, L/A 9054 sq ft, B/U 6456 sq ft, 7r 8b modern design cum with swimming pool easy access to Mines Resort shopping mall Award Winning Golf Course and KLIA international airport. RM 3 mil OPEN HOUSE SALE PLS CALL 012-277 5778.

Mines Resort City Prime Bungalow Lot for sale. Gated & guarded excusive community with club house facility & award-winning golf course. Land size from 7500 sq ft, 8069 sq ft, 9300 sq ft, 10500 sq ft, 11800 sq ft, 14000 sq ft & 16000 sq ft. Best Buy @ RM188 psf.

GITA BAYU SERI KEMBANGAN WELL-KNOWN OF IT’S SAFETY SERENITY & TIGHT SECURITY, FREEHOLD, LUXURIOUS DESIGN BUNGALOW. Land area 8300 sq feet, Build up 9300 sq feet, Tenanted at 16500, Best Buy at RM4.28 mil. Please call Danny 012-277 5778 for viewing appointment.

Gita Bayu Bungalow Lot Lush greenery environment. Freehold nitch bungalow lot with tight security. Limited units for sale. L/S 9300sq ft to 18000sq ft. Price from RM208psf to RM250psf. Dining pavilion & club house cost more than RM10mil for residence to utilize it.

EQUINE PARK BUNGALOW SERI KEMBANGAN LA 8500, B-up 11380, Brand New id home Corner Unit, Very near to Alice Smith International School, Move in condition, Best buy at only RM3.38 Mil.

Cameron Highlands Resort Bungalow at Puncak Arabella Tanah Rata. L/A 7000 sq ft. 10 rooms 10 baths, Good for boutique hotel operator, income 250k per annum. Yield return 8%. Sale from RM3mil only. Best Buy. Danny Cheang 012-2775778.

Johor Bharu Prime Mega Mix development land 22 acres for sale or joint venture. Close by Iskandar region. This coastal closer haven piece of land near Danga Bay is located at the well-known tourism corridor of south eastern corner of Peninsula Malaysia. Full details please call Danny 012-2775778

The Valley TTDI Ampang Bukit Indah Nestled in the serene foothills of Ampang is an exclusive enclave of bungalows and linked villas named as The Valley TTDI, where modern architecture harmonises with the elements of nature bringing the best of both worlds together. Sale from RM2.7mil to RM3.3mil. Corner lot rent from RM12K

Owner others listing are most welcome Email:

Danny 012-277 5778 GS Realty

Atmosfera Condominium, Jalan Pipit 4, 47170 Bandar Puchong Jaya, Selangor

03-8076 7606 012-5388 133 Issue 85 March Malaysia's No.1 Property & Real Estate Website. Find Malaysian properties and real estate listings for sale and rent. New dev...