Buyers Snap Up Legend Water Chalets Phase 2

ABOUT 70 per cent of the Legend International Water Homes in Port Dickson, a prestigious project undertaken by the Kuala Lumpur Metro Group, has been sold even before completion.Located at Tanjung Gemok, about 2km from Port Dickson town, the project is the second phase of the Legend Water Chalets, and is scheduled for completion in the first quarter of 2009.The first phase, opened to the public in 2006, saw all 392 units sold with the majority opting for the rental payment scheme. The scheme allows owners to lease back their property to KL Metro for six per cent rental income per annum in return.The second phase was recently launched by the Yang di-Pertuan Besar of Negri Sembilan, Tuanku Ja'afar Tuanku Abdul Rahman.

(4-2-2008 New Straits Times)

Nam Fatt To Tap High-End Market

PROPERTY developer Nam Fatt Corp Bhd wants to launch high-end properties in prime locations in the Klang Valley and in Malaysia's growth corridors, to build its property division and profile.Nam Fatt, which predominantly develops properties in Selangor, is scouting for land in Mont' Kiara, Bangsar, the Kuala Lumpur City Centre, Johor, Penang and Sabah."We are eager to talk to landowners and form joint ventures to develop high-end properties. We will not deny the opportunity to go into any locations if the price is right," said Frankie Tan, manager, sales and marketing, for the property division.

(4-2-2008 New Straits Times)

Asiatic Aims To Build Properties Exceeding RM35b at Indahpura

ASIATIC Development Bhd, a subsidiary of gaming group Genting Bhd, expects to build properties worth more than RM35 billion at its township in Johor, beating its earlier forecast by 17 per cent.Dubbed Asiatic Indahpura, the project is sprawled over 3,200ha of plantation land in Kulaijaya which is part of the Iskandar Development Region (Iskandar).The 30-year project, which started in 1997, is being developed by Asiatic's property arm, Asiatic Land Development Sdn Bhd.

(4-2-2008 New Straits Times)

Builders To Finish RM13b Worth of Jobs This Year

BUILDERS will finish some RM13 billion worth of jobs from 47 projects in Malaysia this year, a sharp increase from RM5 billion from 20 projects completed in 2007.The major rise both in projects and contract value signifies the return to growth for the Malaysian construction industry.Overseas, Malaysian companies have completed 282 projects between 2002 and 2006 worth a total of RM38 billion.

(4-2-2008 New Straits Times)

HSL Eyeing RM1.5b Projects

HOCK Seng Lee Bhd (HSL), a Sarawak-based builder an increasing number of analysts are recommending a buy on, is confident of securing some RM1.5 billion of projects in the near future, its top official said.At least five local analysts like the main board company for its strong financials, steadily increasing order book and for exposure to construction play in Sabah and Sarawak.

(4-2-2008 New Straits Times)

Tower For Grand Views Of Putrajaya

(4-2-2008 New Straits Times)

We Are Not At Fault, Says Developer

(4-2-2008 The Star)

Crowded Streets, Parking Woes Rise With The Population

(4-2-2008 The Star)

Rising Population Puts Stress On Infrastructure

INFRASTRUCTURE around the KLCC area has seen much improvement over the years with better road accessibility and public transport facilities such as the light rail transit and the monorail. There is an increasing number of people commuting by public transport in the KLCC area. However, many have voiced concern that the infrastructure is still inadequate. Real estate consultants are urging the Government to improve the infrastructure and amenities to meet the rising population and workers in the area.

(4-2-2008 The Star)

Commercial Values & Rental in KL Touch New High

UNDER the Kuala Lumpur Structure Plan 2020, the city has five goals to achieve in order to assume its place as a major global city. First on the list is to enhance the role of the city as an international commercial and financial centre. Other goals in the plan are to create an efficient and equitable city structure, enhance the city's living environment, create a distinctive identity and image for the city, and have efficient and effective governance. Judging from the amount of property development activity going on in downtown Kuala Lumpur, especially in the construction of luxury condominiums and serviced apartments in the vicinity of the Kuala Lumpur City Centre (KLCC), at least one aspect of the plan is being implemented.

(4-2-2008 The Star)

More Than 6,000 New Apartments In the Next Three Years

The growing attractiveness of Kuala Lumpur City Centre (KLCC) continues to lure developers to the city to introduce their brand of tastefully designed projects. From less than 1,000 residential units in the KLCC enclave in the late 1990s, there are now more than 2,000. By 2010, there will be more than 7,000 residences completed. The total approved projects (including those under construction and completed) as of end of last year will see more than 6,000 new apartments added in the area in the next three years. KLCC is certainly in the spotlight these days with more than 30 property projects either completed or at various stages of construction. Several niche players continue to purchase land in the vicinity despite the current high land price of RM1,500 to RM2,000 per sq ft (psf). In 2000, land in the area was only going for RM200 to RM300 psf but by 2003, the price has doubled to between RM500 and RM600 psf.

(4-2-2008 The Star)

KLCC Magnet For Local and Foreign Investors

The Kuala Lumpur City Centre (KLCC) enclave is emerging as an international real estate destination with growing local and foreign interest to develop and invest in residential and commercial properties. The Petronas Twin Towers and the surrounding 50-acre central park have been “magnets” in attracting real estate investors and developers. Interest in the KLCC area started in early 2000 after the Kuala Lumpur City Hall (DBKL) set out to make Kuala Lumpur a world-class city and to promote inner city living in line with the KL Structure Plan 2020. Medium-density high quality residential developments were designated in areas around the KLCC, Jalan Yap Kwan Seng, Bukit Ceylon, Jalan Inai/Imbi and Jalan Stonor/Conlay. The early launches in the KLCC area included the Stonor Park, Marc Service Residence, Dua Residency and Binjai Residency. In the last few years, these apartments, which were sold for between RM500 and RM700 per sq ft (psf), have recorded price appreciation of between 70% and 120%. The interest in high-end luxury residences within the KLCC enclave is driven by the changing lifestyle and the strong appeal of inner city living.

(4-2-2008 The Star)

Building Material Prices Going Up in H2

Industry players see higher prices for steel bars and cement SPECULATION is rife that the prices of controlled building materials like steel bars and cement are set to increase further in the second half of this year.Late last month, the Economic Planning Unit (EPU) held its first special committee meeting with cement and steel industry players to get feedback on their escalating raw material and operational costs.It is believed that the Government will review the ceiling price of major building materials given the serious “pricing” issue especially in the domestic cement and steel markets.

(4-2-2008 The Star)

Groundbreaking Incentives Put Sector On Firmer Footing

The property sector has witnessed a slew of groundbreaking developments last year, which had placed the sector on a more competitive footing going forward, especially in terms of government policies. For instance, in the residential sector, foreigners are now allowed to buy properties costing above RM250,000 without Foreign Investment Committee (FIC) approval and they benefit from the exemption of real property gains tax (RPGT). Moreover, the authorities allowed the set up of one-stop centres to streamline procedures to hasten approval process.

(4-2-2008 The Star)

Cautinous Optimism On Property Sector

Property consultants say the property sector is more resilient compared to 10 years ago Property consultants are cautiously optimistic that the local property sector would remain healthy despite a possible recession in the United States. DTZ Debenham Tie Lung (M) Sdn Bhd executive director Brian Koh said the property sector was more resilient than 10 years ago. He noted that when the 1997 economic crisis occurred, the Malaysian economy, including the stock market, took a massive plunge.

(4-2-2008 The Star)

Pekan Nanas To Get A New and Better Clinic

(4-2-2008 The Star)