East Ledang homes see good sales

IN less than a month, UEM Land Sdn Bhd’s (UEM) latest property development, East Ledang at Nusajaya, Johor has sold almost half (48%) of its first phase that was launched late February.“Fifty percent of our buyers are locals, mostly from Johor and are high income professionals while the other 50% are foreigners, mostly from Singapore,” said Wan Abdullah Wan Ibrahim, managing director of UEM Land.The RM1.2 billion development takes up 275 freehold acres in Nusajaya and will be developed in seven phases comprising a total of 861 homes. The first phase offers a total of 139 units comprising 52 twin villas and 87 link duplexes.The twin villas have built-up areas ranging between 3,700 sq ft and 4,400 sq ft while the link duplexes have builtups of between 2,600 sq ft and 3,000 sq ft. The homes are priced at RM870,000 and above and RM458,000 and above respectively. Read more

(14-3-2008 The Sun)

Enhancing professionalism among real estate agents

(14-3-2008 The Sun)

New Development:Taman Desa Bukit Indah, Sungai Buloh

LOOKING for an affordable terraced property in the Sungai Buloh- Kepong area? More 2-storeyterraced homes will be offered at the upcoming launch of the leasehold 200-acre Taman Desa Bukit Indah in Sungai Buloh, Selangor by Magilds Park Sdn Bhd, a subsidiary of Petaling Tin Bhd.Following the successful take-up of its Camellia designed 2-storey terraces that was launched last month, the developer plans to introduce more of such terraced homes in June, Petaling Tin CEO Leong Choong Wah (pix) told PropertyPlus. Read more

(14-3-2008 The Sun)

Hospitally Boost

AS the government continues to promote foreign direct investments into the country, a growing number of commercial properties’ transactions led by foreign buyers can be seen particularly in the Klang Valley.While these foreign investors, such as those from the Middle East and Hong Kong, have interests in office buildings and shopping centres, much growth has been seen in the number of hotel acquisitions too. It was reported that the country recorded hotel transactions worth about US$376 million (about RM1.2 billion) last year, or 3.5 % of the total US$10.8 billion (RM34.5 billion) made across Asia.Global hotel investment services firm Jones Lang LaSalle Hotels said the Asian hotel market witnessed 83 major transactions, valued above US$5 million (about RM15.98 million) last year and that it was more than double the previous high of US$5 billion (RM15.98 billion) transacted in 2006. It attributed strong local economies and expanding leisure markets as the factors of Asia’s well-performing hotel sector.Read more

(14-3-2008 The Sun)

Auction Caution

Properties sold at an auction may appear to be cheap. But buyers need to understand the various aspects that could indirectly hike up the price. LOOKING at the advertisements in the daily newspapers, it would appear that a large number of properties are being auctioned off every weekend. The indicated prices appear to be way below the market price, making it appear like an attractive purchase. A reader wanted to know whether it is safe to buy a property at an auction, and whether the buyer is adequately-protected by the law. He also asked if properties could be auctioned off without a court order. Read more

(13-3-2008 The Star)

New residential development in Mont' Kiara

(13-3-2008 The Sun)

Are changes in store post-election?

PETALING JAYA: Is further volatility in store for the main stock index as business confidence takes a beating in view of not only a change in the makeup of the 12th Parliament but also in the legislatures of the more economically important states and in the Federal Territory? On Monday, following the general election of March 8, the KL Composite Index (KLCI) fell 123.11 points, or 9.5%, to close at 1,173.22, wiping out RM86bil, or 8.7%, from the bourse's total market capitalisation of RM984bil as at March 7. The selling also saw a temporary halt in trading mid-afternoon when the circuit breaker installed by Bursa Malaysia in March 2002 was triggered after the KLCI fell 10% from its previous close on March 7. Big-cap stocks with high foreign shareholding as well as plantation and construction stocks were among those that saw their share price fall on that day. Read more

(13-3-2008 The Star)

Foreign investors may wait and see

PETALING JAYA: Foreign investors may take a wait and see approach following the dismal performance of the ruling coalition Barisan Nasional in the 12th general election, until the state and federal governments are well established, said local property consultants. In the polls, Selangor, Penang, Kedah and Perak fell to the opposition.However, they said investments in the property sector and in other sectors would improve in the long run if there are signs of better corporate governance and transparency in doing business here.Zerin Properties CEO Previndran Singhe expects an overall positive impact as real estate is a long-term investment."The outcome of the elections proved that the country is democratic and its citizens, politically matured. I do not foresee any negative affect on foreign investments, as investors will notice thatMalaysia is democratic and practises good corporate governance," he said. Read more

(12-3-2008 The Sun)

Guocoland: KFH option on Singapore apartments lapses

PETALING JAYA: Kuwait Finance House (M) Bhd (KFH) is believed to have decided not to exercise the option on 97 apartments at the 210-unit Goodwood Residence development in downtown Singapore, given the softening in the city-state's private residential property market. The apartments were supposed to be sold to a fund managed by KFH for US$818.4mil, or at S$3,000 per sq ft. Goodwood Residence, developed by Guocoland Ltd, is a premier residential development on a 24,845-sq-m freehold plot fronting Goodwood Hill. A Guocoland statement issued on Monday said the options were not exercised and had lapsed. “Both parties are presently in discussions, with a view to granting fresh options for units in the development,” it said, adding that the private residential property market in Singapore was currently cautious. KFH did not respond to StarBiz's queries. Read more

(12-3-2008 The Star)

Lee to quit as Country Heights MD

TAN SRI Lee Kim Yew said he will quit his post as group managing director of Country Heights Holdings Bhd, but denied that he was selling his shares in the property company. "That is not true. I'm not leaving. I'm not selling off my shares. In fact, I have been accumulating shares of Country Heights," he told Business Times in a telephone interview yesterday.Lee, who founded Country Heights, was responding to a recent news report that said he may relinquish his executive role in the group following an internal restructuring exercise that is under way. Read more

(12-3-2008 New Straits Times)

Quill Capita gets 'outperform' rating

Alliance Research says Quill Capita Trust's tenancy profile which includes the likes of DHL, IBM, HSBC, BMW and Technip as its anchors proves its earnings quality. ALLIANCE Research Sdn Bhd initiated coverage of Quill Capita Trust (QCT) with an "outperform" rating, saying it has a defensive blue-chip tenancy profile and a strong parent in CapitaLand Ltd."With its tenants locked in for a long term on master lease agreements with step up agreements, the real estate investment trust (REIT) provides stable earnings with mild growth even without acquisitions," the local research firm said in a report yesterday. Read more

(12-3-2008 New Straits Times)

Morubina's Kinta Riverfront Project ready by Sept 2009

(The Sun 11-3-2008)

Firms with overseas jobs more resilient

PETALING JAYA: Construction firms that rely mostly on government jobs would be the most vulnerable to political changes but some companies will be better positioned to weather the uncertainties. OSK Research analyst Jeremy Goh said earnings of companies such as Hock Seng Lee Bhd, whose projects are mainly in Sarawak, should remain resilient. “We also remain positive on companies like IJM Corp Bhd and Zelan Bhd, whose operations are focused mainly in the oil-rich Middle East.” he said. Read more

(11-3-2008 The Star)

Acerinox picks Malaysia for first Asian plant

JOHOR BARU: Spanish steel company Acerinox S.A. is investing RM5bil in its new production plant in Tanjung Langsat near Pasir Gudang. The Johor plant will be the company's first plant in Asia. Its existing plants - all developed with partner Nisshin Steel of Japan - are in Spain, South Africa and the US. Acerinox's investment is the single largest foreign direct investment (FDI) to be secured by Johor to date. The integrated plant, on a 140ha site, will be developed in phases. When fully ready in 12 years, it will have the capacity to produce one million tonnes of stainless steel, including 600,000 tonnes of cold-rolled steel sheets, annually. “This is a major success for Johor to continue to position itself as the premier destination for capital-intensive high-technology industries in Malaysia,” Mentri Besar Datuk Abdul Ghani Othman said in a statement yesterday. Read more>>

(The Star 8-3-2008)

Local REITs gain global attention

BARELY three years after Malaysia's first real estate investment trust (REIT) was on the stock exchange, the industry crossed a new milestone with Wednesday's signing of a partnership agreement between Hektar Klasik Sdn Bhd and Singapore-based Frasers Centrepoint Asset Management (M) Pty Ltd (FCAM). Today, not only have local REITs grown in market capitalisation to over RM1bil, investors can look forward to enjoying the benefits of this first cross-border REIT partnership. This surely augurs well for the industry as a whole and for the REITs in terms of global recognition by institutional investors. Commenting on the cross-border REIT partnership, Hektar Asset Management Sdn Bhd chief executive officer Datuk Jaafar Abdul Hamid said the joint venture would benefit both parties. “It would help harness the combined strengths of the sponsors: FCAM's strategic reach and financial resources within South-East Asia and Hektar group's experience and expertise in Malaysia. “We have extensive understanding of the Malaysian market and we are gaining momentum in growing the REIT's asset size, especially with our recent retail acquisition in Johor,” he said.

(The Star 8-3-2008)

Encorp wants to venture into Asia, Mideast

PETALING JAYA: Having made its mark in the prefabricated building technology locally, Encorp Bhd is ready for its maiden foray overseas and has set its sights on projects in Asia and the Middle East. It was negotiating to undertake homes, government quarters and commercial building projects in several countries in the two regions, said group chief executive officer Yeoh Soo Ann. He said Encorp's reputation in designing, financing and constructing 10,000 teachers' quarters in Malaysia using the industrialised building system positioned the company well to seek overseas ventures that used such technology for mass housing projects. “We will go where the returns are operationally and financially viable after taking into consideration the political and currency risks of that particular country and/or region,” he told StarBiz.

(The Star 8-3-2008)

MRCB Utama offers resort features in Laman Suria

MRCB Utama Sdn Bhd, a subsidiary of Malaysia Resources Corp Bhd, is trying to lure those working in the city of Kuala Lumpur to move to Kajang, Selangor, with its Balinese-themed Laman Suria apartments in Taman Kajang Utama.Describing them as “e-resort” apartments, MRCB Utama’s sales and marketing manager Chiang Hon Kit said the 4-acre freehold development has resort features with each unit equipped with an alarm system, an electric clothes dryer and entry via personal access cards.Comprising a total of 255 units, priced from RM88,000 to RM168,00, buyers have a choice of five designs with built-up sizes of 687 sq ft, 840 sq ft, 850 sq ft, 870 sq ft and 879 sq ft.Chiang told Property Plus that the response has been very encouraging. “We are banking on Laman Suria’s affordable pricing, easy accessibility and full-condo facilities to attract potential buyers,” he said.Block A of the 5-storey apartments were launched in the iddle of 2006, comprising 99 units that have been fully taken up, while 50% of Block B’s 87 units were sold within a couple of weeks, said Chiang. The units are currently under construction.“Block C, with 69 units, is scheduled for launch soon,” he added.

(The Sun 7-3-2008)

New Development : Bandar Kinrara

I&P’s other developments include Bandar Kinrara, Alam Damai in Cheras, Alam Impian in Shah Alam, and Kota Bayuemas in Klang. In early January, the developer launched Phase 4D5 of shop offices at the RM3.9 billion freehold township, Bandar Kinrara. Out of 30 units, only 20 were opened for sale while the remaining 10 units were retained as assets, said Jamaludin.Currently about 30% sold, the shop offices come in six designs with standard lots measuring 22ft by 80ft and builtups between 4,960 sq ft and 10,896 sq ft. Pegged between RM1.68 million and RM3.99 million, these units are targeted at business owners, banks, restaurant owners and investors. “The land is currently being cleared, and the project is targeted for completion within three years,” said Jamaludin.Meanwhile at the residential parcel of Bandar Kinrara, the developer launched Phase 9A9A also known as “Butik Bungalow”. According to Jamaludin, the 14 units of 2-storey bungalows have been 30% sold since it was opened for sale in November last year. Available in five types and five designs, the homes are priced between RM1,137,888 and RM1,459,888.There are also two bungalow lots for sale within this phase. “These are affordable and modulardesign bungalows with big land areas, which allows room for future expansion.The homes are targeted at the middle to higher-income group, and for those looking to upgrade,” said Jamaludin. The bungalows come in lot sizes of between 7,200 sq ft and 11,000 sq ft and built-ups of between 2,714 sq ft and 3,030 sq ft. “It is now at the foundation stage and will be completed in approximately two years,” he added.

(The Sun 7-3-2008)

New Development : Alam Sari Part II

Located within the heart of Bangi, about 3.5km south of Bandar Baru Bangi, Alam Sari has a gross development value (GDV) of RM1 billion and takes up 432.5 freehold acres. Set within the vicinity of higher learning institutions such as Universiti Kebangsaan Malaysia (UKM), the EPF Training Centre (ESSET) and the Petronas Management Training Centre, the “Neighbourhood of Academia” township will feature academically themed parks and precincts.Upon completion, the township is expected to have 3,435 units of residential properties including semidees, bungalows, orchard lots and apartments as well as shops, convenience centres and a supermarket or mall complemented by facilities and amenities such as schools, kindergarten, a community hall, police station, parks and gardens.With an expected population of 17,000 upon full occupation, the township would take between eight and 10 years to complete. “Construction for Phase 1P1 which commenced in November last year, is currently in progress and targeted for completion in the middle of 2009,” said Jamaludin.

(The Sun 7-3-2008)

New Development: Sri Alam, Bangi Part I

ISLAND & Peninsular Bhd (I&P) has planned four launches comprising terraced and semi-detached homes this year for its Alam Sari project located in the township of Bangi, Selangor. Having sold out Phase 1P1 of Ilmia during its sales launch in November last year, the developer will be launching Phases 1P2 and 1P3 before the end of this month.I&P group managing director Datuk Jamaludin Osman told PropertyPlus that most of the buyers of Phase 1P1 were from and within the Bangi locality. “Buyers in Bangi look for landed property with freehold titles. There are purchasers who upgrade from living in apartments to landed homes; there are also some who upgrade from terraced homes to semidees,” he shared.Phase 1P1 homes were priced between RM248,088 and RM512,760 and offered 90 units of 2-storey terraced homes sized at 22ft by 75ft with built-ups ranging from 2,099 sq ft to 2,271 sq ft. With Phase 1P2 and 1P3, I&P expects to put out 60 units of 2-storey terraced homes and 32 units of 2- storey cluster homes respectively.Homes in Phase 1P2 are sized at 22ft by 75ft with built-ups from 2,044 sq ft to 2,500 sq ft while Phase 1P3 homes are sized at 33ft by 85ft with builtups between 2,400 sq ft and 2,600 sq ft. The homes are tentatively priced at RM255,000 for Phase 1P2 and RM448,000 for Phase 1P3. According to Jamaludin, these homes are targeted at government servants, businessmen and a multiracial community.“Phase 1P3 offers cluster-style homes, which are planned in clusters and short rows. The homes are built according to the natural terrain and are functional, with a practical layout suitable for modern-day needs. These homes are also designed to be protected from the sun and rain,” explained Jamaludin.

(The Sun 7-3-2008)

Malaysia Property Mart Outlook 'Very Bright'

Prospects for the Malaysian property market this year continue to be bright, with the residential sector expected to be the star performer yet again, says top real estate services company CH Williams Talhar & Wong (WTW).The commercial sector, however, is set to become increasingly important as property trusts actively look to expand and foreign property funds continue to show keen interest here.As usual, the Klang Valley is expected to lead the market, but things are also looking good in places like Johor Baru (Johor) and Butterworth (Penang)."Overall, the outlook is very bright. Property prices haven't peaked. Foreign interest is helping drive the market, but there's also a lot of local interest," WTW managing director Goh Tian Sui said yesterday at the launch of its property market and CEO opinion survey for 2008.

(New Straits Times 7-3-2008)

Property market to keep drawing foreigners

KUALA LUMPUR: The property market will continue to attract strong foreign interest, says international property consultant CH Williams Talhar & Wong Sdn Bhd (WTW). Managing director Goh Tian Sui said the economic slowdown in the US and Britain had drawn investors to Malaysia due to the higher dividend yield compared with its regional peers. The exemption of the real property gains tax (RPGT) announced in Budget 2008 was also another pulling factor, he told reporters at the release of the WTW Property Market Outlook for 2008 & CEO Opinion Survey yesterday. According to the survey results, 90% of respondents said the RPGT exemption would have a positive impact on the local property industry, while 96% thought the exercise would increase the volume of transactions in the industry. Read more

(The Star 7-3-2008)

IDR highway project to be completed by 2010

JOHOR BARU: The construction of the RM1.1bil Coastal Highway has begun and the 15km six-lane project is expected to be ready by 2010. The highway's seven interchanges and three bridges would be a lifeline for the Iskandar Development Region (IDR) as it provides a vital road link between the east and west of South Johor, Mentri Besar Datuk Abdul Ghani Othman said. He said site-clearing works had begun and they would be followed by piling and construction. “It is one of the biggest infrastructure projects within the IDR,” Ghani said in a statement. The highway will connect Johor Baru city to the Johor State New Administrative Centre in Nusajaya (JSNAC) and the Second Link crossing. JSNAC, the nexus of the IDR, is 90% completed and will be ready for occupation by June.

(The Star 7-3-2008)

Local firms to build IDR waterfront projects

JOHOR BARU: Three local companies will undertake new waterfront property projects worth about RM540mil in the Iskandar Development Region (IDR) this year. Kota Selat Tebrau Sdn Bhd, Best Reality Point Sdn Bhd and Tune Hotels Sdn Bhd have projects slated in Danga Bay, which is within the 25km stretch of the IDR waterfront. Read more

(The Star 6-3-2008)

Tiong Nam to sublease land for RM52m

TIONG Nam Logistics Holdings Bhd has accepted a conditional offer to enter into a long term sublease rental with Port of Tanjung Pelepas to sublease four hectares of land for RM52 million.The move is to further expand the group’s total logistics activities in the area.

(New Straits Times 6-3-2008)

RM540m boost for Iskandar region

THREE Malaysian companies are investing a total of RM540 million in new waterfront properties within the Iskandar Development Region (Iskandar), Johor Menteri Besar Datuk Abdul Ghani Othman said yesterday.The projects — by Kota Selat Tebrau Sdn Bhd (KST), Best Reality Point Sdn Bhd and Tune Hotels Sdn Bhd — are all coming up in Danga Bay, which is within a 25km stretch of the Iskandar waterfront.KST, a special purpose company under the South Johor Investment Corporation (SJIC), is the master developer of waterfront land in Nusajaya and Danga Bay, which are among the two prime locations within the Iskandar.KST will develop Iskandar’s first high-end serviced condominium called Oakwood Residence Johor (ORJ).Read more

(New Straits Times 6-3-2008)

MRCB expects job orders to hit RM9b

Eleven of at least 12 analysts who track the stock recommend a 'buy' on it for they like its strong financials, professional management and that it is a government-linked company. MALAYSIAN Resources Corp Bhd (MRCB), a construction and property company, expects orders to jump by as much as 50 per cent to RM9 billion by the end of the year, its top official said.The combined order book of the main board company currently stands at around RM6 billion to RM7 billion."We're quite confident in terms of where we're going," group managing director Shahril Ridza Ridzuan said in an interview with Business Times. The two businesses typically account for up to 85 per cent of group revenue and profit, with the balance coming from environmental activities, property assets and building services, among others.On the property front alone, the group is planning up to RM6 billion worth of new developments. It is keen on securing more projects in the Middle East, Shahril said. Read more

(New Straits Times 6-3-2008)

More developments for IDR

JOHOR BARU: Three Malaysian companies are investing a total of RM640 million in new waterfront properties within the Iskandar Development Region (IDR). The projects by Kota Selat Tebrau Sdn Bhd (KST), Best Reality Point Sdn Bhd and Tune Hotels Sdn Bhd are all coming up in Danga Bay, which is within a 25km stretch of the IDR waterfront. Johor Menteri Besar Datuk Abdul Ghani Othman said the investments were a clear indication of, not only strong foreign interests, but also growing local confidence in the IDR. To date, the IDR has attracted some RM22 billion in total investments, especially from Middle Eastern investors. Major local firms like UEM Land Bhd are also blazing a trail with signature developments in the
southern corridor. Read more

(The Sun 5-3-2008)

PETALING JAYA: The Selangor State Development Corporation (PKNS) expects the third and final phase of De Rozelle Condominium in its Kota Damansara township to sell out within a week of its launch. “With 300 interests received and only 100 units available, we expect Phase 3 to be sold out fast,” said Mohd Wazir Bin Haji Abdul Gani, public relations manager of PKNS. According to Wazir, the project is very popular especially among the Chinese population, with a lot of buyers being newly weds and young working adults. A large portion of buyers is in the younger age group, with 20% to 30% of buyers aged 35 years and above. Read more

Maybank plans 30 more branches by June 2009

KLANG: Malayan Banking Bhd is expanding its domestic presence aimed at enhancing its market share, particularly in Peninsula Malaysia and will open another 30 branches nationwide by June 2009, said its network support head for consumer banking, Lee Chee Ming said. The country’s largest lender by assets currently holds a 20% market share in consumer banking with about 400 branches. Lee said from the additional 30 branches, five would be “in-store” branches located in shopping centres, while the remaining 25 would be conventional branches. “The branch strategy at retail malls has seen a significant increase in our e-channel’s business, particularly automated teller machine (ATM) transactions, which are 50% higher compared with the average ATM transactions at other Maybank ATMs nationwide,” Lee said at the official opening of its fifth in-store branch at the AEON Bukit Tinggi shopping centre here yesterday. Read more

(The Edge 5-3-2008)