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)

E&O Finalising Concept For 2nd Phase of Seri Tanjung Pinang

E&O Property Development Bhd is finalizing the concept plan for the second phase of its Seri Tanjung Pinang (STP) project in Pinang. The first phase has a gross development value (GDV) of RM2.6 billion and some RM600 million worth of properties have been sold.

(2-02-2008 New Straits Times)

Ivory Earmarks RM70m To Revive Fettes Villa Project

Penang based Ivory Properties Group – which is eyeing a listing on Bursa Malaysia’s main board by the end of this year-is targeting to revive the abandoned “Fettes Villa” project on the island in three years. The project, which started in 1995 and scheduled for completion in 1997, was stalled in 1996 and affected 582 buyers. It comprises about 900 condominium units, low medium cost (LMC) apartments and 20 shoplots. Read More

(2-02-2008 New Straits Times)

Government Gives Sabah A Kick Start

Property Boost: The property sector will benefit from developments in the SDC as it should benefit also from the other three development corridors due to the better infrastructure being build, greater job opportunities and higher income levels. For instance, Waterfront Urban Development Sdn Bhd (WUD) has unveiled its RM500mil Kota Kinabalu City Waterfront (KKCW) an integrated mixed development in Kota Kinabalu while SP Setia Bhd has announced an RM1bil Tanjung Aru mixed residential and commercial development.

(2-02-2008 The Star)

Bina Puri Unit Wins Condo Job In Thailand

Bina Puri Holdings Bhd said its Thai subsidiary Bina Puri (Thailand) Ltd has been awarded a RM81mil contract to build two condominium blocks comprising 810 units in Bangkok.The construction period was 21 months, the group said in a statement. The group's total book order in Thailand currently.

(2-02-2008 The Star)

Axis REIT Acquiring Assets For RM27mil

Axis Real Estate Investment Trust (Axis REIT) said its trustee OSK Trustees Bhd has signed sale and purchase agreements with vendors to acquire assets for RM27mil.The assets are a single-storey detached factory with ancillary buildings and a one-storey warehouse building with a 3-storey office and guardhouse and ancillary buildings.Axis REIT said in a statement the leasehold properties were in the Pasir Gudang industrial area developed by Johor Corp.Axis REIT manager, Axis REIT Managers Bhd, intends to fund the acquisitions through a recent capital raising exercise, in which 50 million new units were successfully placed out.

(2-02-2008 The Star)

AP Land Plans RM680mil Projects In Malaysia, China

PETALING JAYA: Asia Pacific Land Bhd (AP Land), which finalised the RM680mil sale of City Square Centre to Macquarie Global Property Advisors last year, will be launching RM680mil worth of properties this year in Malaysia and China.The launches include a mixed development in Changshu, China with a gross development value (GDV) of RM420mil, MyHabitat Tower 2, a 38-storey tower with 215 units with a GDV of RM220mil in Kuala Lumpur and 80 high-end villas with a GDV of RM40mil in Bandar Tasik Puteri near Rawang. Joint managing director Low Su Ming said the Changshu project would take off in the middle of the year, if everything went according to plan.She said the venture into China was part of the company's diversification policy for its property development division.Low told StarBiz that further announcements would be made in March on AP Land's two acquisitions of oil palm plantation land totalling 36,000ha in late November last year and January this year.

(2-02-2008 The Star)

Naluri Purchase To Position Atlan As Developer

ATLAN Holding Bhd’s acquisition of Naluri Corp Bhd will help position the group as a property developer and a duty free shop operator. Naluri will be delisted and privatized after the acquisition. The completion of the take over will place some RM700 million worth of properties, which include vacant land, commercial properties and apartments, under Atlan. In Penang, Nalurim via unit Blossom Time Sdn Bhd, is currently involved in a RM400mil landed and high rise property development on a 65-acre site in Batu Ferringhi.

(2-02-2008 The Star)

Mutiara Goodyear Takes Over Jurus Positif

Mutiara Goodyear Development Bhd has inked a RM27.6 million deal to purchase 50 per cent of property company Jurus Positif Sdn Bhd. With the deal, the company will take over the RM160 million Taman Mutiara Gombak housing development in Selangor. Mutiara Goodyear will also control a 4.6 acre commercial development site in Bandar Sunway, Petaling Jaya.

(2-02-2008 New Straits Times)

AmanahRaya Aims To Increase Rental Yield

By embarking on a strategy to expand the lettable areas of properties in its portfolio, Amanah Raya Real Estate Investment Trust (AmanahRaya REIT) –the first government –owned REIT company to be listed on Bursa Malaysia- hopes to improve its performance. With an asset size of RM649 million, the REIT, which owns 13 properties, will offer an annual yield of about 6.9 per cent based on its initial public offer price of 94 sen for the financial year ending Dec31, 2007.

(2-02-2008 New Straits Times)

Quill Shows How To REIT It Well

Going strong on the acquisition trail since listing has enabled Quill Capital Trust to surpass it own expectations. The stellar performance is mainly due to income received from its acquisitions of Wisma Technip and several commercial units in Plaza Mont Kiara, both in Kuala Lumpur.

(2-02-2008 New Straits Times)

UOA Pantai Injected Into REIT

Located on a 0.89 acre freehold plot in Jalan Pantai Jaya, UOA Pantai is a five storey office building with two mezzanine floors and three basement car-parking levels. Its nett lettable area of 157,481 sq.ft, is currently 86 per cent occupied, with the Ministry of Housing and Local Government occupying two-thirds of the rented area.

(02-2-2008 New Straits Times)

Axis-REIT buys warehouses for RM27m

KUALA LUMPUR: Axis Real Estate Investment Trust (Axis REIT) is acquiring two warehousing properties in Pasir Gudang industrial area for RM27 million in Johor, said its manager Axis REIT Managers Bhd (ARMB). It is acquiring a single-storey detached factory with ancillary buildings from Oriental Pulse Sdn Bhd for RM12.5 million, and a single-storey warehouse building with a three-storey office plus guard house and ancillary buildings from Niro Ceramic (M) Sdn Bhd for RM14.5 million. Both properties are developed by the Johor State Economic Development Corp. The property has a gross yield of 10.26% and a triple net yield projected at 9.1%. The acquisition is yield accretive at 23 sen per unit. The second property is a sale and leaseback arrangement with Niro Ceramic (M) Sdn Bhd, which has agreed to lease it for six years at a monthly rental of RM130,000 for the first three years with a step-up in rental on the second three years. It has an option to renew the lease for an additional six years. The property has a gross yield of 10.55% and a triple net yield projected at 9.77%. The yield is 345 sen per unit.

(01-02-2008 The Edge)

SC relaxes minimum landbank rule

Property development companies seeking listing are no longer required to have a minimum landbank of 500 acres (202 ha) under the Securities Commission’s (SC) latest equity guidelines, which come into effect today. The SC said the new and revised guidelines were part of its efforts to create a more competitive capital market environment through the liberalisation of fund-raising requirements and raising standards of advisory and due diligence conduct by market intermediaries. It said these guidelines, which take effect today, were related to the liberalisation policies announced by SC chairman Datuk Zarinah Anwar on Dec 12 last year to facilitate corporate expansion and boost the attractiveness of Malaysia as a preferred listing destination.

(01-02-2008 The Edge)

The Pavilion attracted 5m visitors in just 3 months

KUALA LUMPUR: The Pavilion Kuala Lumpur, which opened to the public last September, has already attracted a total of five million visitors in the last three months of 2007, its director for centre management John Sironic said. The Pavilion is owned by Urusharta Cemerlang Sdn Bhd, which roped in Kuwait Finance House and Qatar Investment Authority as partners for the project, and managed by Kuala Lumpur Pavilion Sdn Bhd. The RM3 billion Pavilion sits on a 5ha site in Jalan Bukit Bintang and has a total gross built-up area of 3.68 million sq ft, and a total net lettable retail area of 1.37 million sq ft. The shopping mall has seven retail floors and 450 units of shop. Currently, 60% of these shops are fashion outlets, 21% food and beverages and the remaining 19% catering for urban leisure. It also has three levels of basement parking with 2,500 bays. Besides the luxury mall, The Pavilion development project also comprises 368 residential units, a 19-storey office block and a hotel upon full completion.

(01-02-2008 The Edge)