New Development: Amarin plans villas, resorts in Malaysia, Indonesia

PROPERTY developer Amarin Wickham Sdn Bhd plans to build high-end residential villas and resorts in Malaysia and Indonesia.It is scouting for land in Bali, the Klang Valley, Langkawi and Cherating, to build the properties this year, said director Lee Vun-Tsir. "We are not interested in developing and operating typical resorts or city hotels. The ones we build must be private-based, personalised and exclusive," Lee said in an interview recently."Malaysia still lacks boutique developments. What we want to do is bring Bali and Europe here, instead of locals and foreigners going there," Lee said. It plans to build 20 to 30 boutique-style villas as well as resorts at any one location, complete with a club house, spa and restaurant.For the villas in Bali, it plans to sell them for between RM2.53 million and RM2.84 million per unit, while those in Malaysia will be priced at more than RM800,000 per unit. "We are looking at modern indigenous designs and offering niche lifestyle concepts. We may lease some of the units for recurring income, Lee said.This would be the first venture for the company to build boutique-style villas and resorts.Its flagship is the RM80 million Amarin Kiara project in Mont' Kiara launched in mid-2006.It comprises 30 units of three-storey semi-detached villas with private pools, priced between RM1.98 million and RM2.6 million, and one three-storey semi-detached villa, priced at RM3.8 million.All units have been sold and will be handed over to their buyers next month. Read more

(New Straits Times 21-3-2008)

Mahkota Medical poised for growth

THE Mahkota Medical Group, which has a hospital in Malacca and will soon open one in Johor, is eyeing Sabah and Sarawak next."We have our radar screen on other towns, especially those in Sabah and Sarawak. We would like to go where there is no heavy concentration of private hospitals," Mahkota Medical Centre Sdn Bhd chief executive officer Francis Lim told Business Times in an interview."We have taken a look at some sites, (but) nothing has been decided," he said."We have to look at our shareholders' interest. We do not want to rush into it." Lim said that the group may consider accepting management contracts without an equity stake.Given that Malaysia is pushing for medical tourism to bring in foreign exchange, Lim hopes that the tax incentives given to those in Nusajaya, Johor, and set-ups in the Port Dickson Wellness Zone in Negri Sembilan will be extended to all private hospitals. "Healthcare requires heavy investment," he said.The Mahkota Medical Centre in Malacca started operations in 1994 under the Lion Group.Lion, which restructured and sold its non-core businesses during the 1997/98 financial crisis, sold the hospital in September 2001.The Mahkota Medical Group is now owned by Health Management International Ltd of Singapore (48.95 per cent), Bumiputera group Maju Medik Sdn Bhd (38.42 per cent) and 12.36 per cent by doctors located all over Malaysia. Read more

(New Straits Times 21-3-2008)

RM120m Johor hospital to open in June

THE Mahkota Medical Group will open a RM120 million hospital in Bandar Seri Alam, Johor, in June. The 218-bed Regency Specialist Hospital expects to tap medical tourism in a big way. It projects contribution from domestic and foreign patients to be split equally within the next three years.It will be the group's second hospital."The building is completed. The certificate of occupancy has been issued. We are waiting for the operating licence. The hospital should be operational mid-2008," Mahkota Medical Centre Sdn Bhd chief executive officer Francis Lim told Business Times. The RM120 million investment includes land, building and equipment."We expect to break even in three years and be profitable from the fourth," Lim said. Read more

(New Straits Times 21-3-2008)

Mah Sing lines up RM1.4bil project

PENANG: Mah Sing Group Bhd is launching its largest project, a whopping RM1.35bil mixed development called Southbay Penang on a 35ha freehold site in Batu Maung soon. Group chief operating officer Ng Heng Phai said the plans for the first and second phases of the project had been submitted to the local authorities. “We plan to launch the first phase in the first half of 2008, as soon as we get the green light. The second and third phases will be launched in late 2008,” he told StarBiz. Southbay Penang, comprising 376 units of landed residential properties and an integrated commercial hub, is scheduled for completion within seven years. Read more

(The Star 21-3-2008)

Living in sunshine - Malacca's latest resort offers gateway homes from RM145,000

EPV general manager Quah Eng Hock said the entire multibillion-ringgit development taking shape on the Klebang Beach foreshore as well as on 87 acres of reclaimed land will comprise four components: Empire Sunshine Villas, Empire Theme Park and Service Resorts, Empire Marina Villas and Empire Global Wonder Village."We plan our development to be the first to integrate facets of history with tourist elements and lifestyle features demanded by buyers investing in tomorrow," he said.Now available for sale are 510 Small Office Home Offices (SoHos) in Empire Sunshine Villas.Situated from the eighth to top-most floor of a 24-and-half-storey tower that will sit atop a three-level shopping mall, Quah said investors have a choice of four layouts."Some will also come with roof gardens," he said.To support the use of the SoHos as holiday homes, recreational facilities including a gym, spa, swimming pool and landscaped gardens will be designed into the phase "to provide a fitting environment for work and play".Buyers will also have access to commercial outlets such as a business centre, convenience store and the three level shopping mall that will have 22 lots on the ground floor and 48 on each of the upper two levels.These can be bought for between RM650psf and RM1,000psf.Piling work for Empire Sunshine Villas commenced last December and so far, 55 per cent of the SoHo units, which carry a gross development value of RM135 million, have been sold.When Malacca Empire Marina Theme Park (MEMTP) is fully completed in four years, it will be a comprehensive resort with a marine theme park, water villages modelled after the Dubai Palm Resort, a five-star hotel, historial gallery and 10,000-seat international conventional centre.

(New Straits Times 20-3-2008)

New Development: OSK goes high end in Damansara

Once upon a time, not too long ago, actually, the area in Selangor between the North Klang Valley Expressway's Sungai Buloh toll plaza and the Lebuhraya Damansara-Puchong intersection with the Middle Ring Road II was known as a place for mass affordable homes.Such was the stereotype because of townships such as Damansara Damai and Bandar Sri Damansara. How times have changed. With the arrival of the Sierramas and Valencia residential enclaves, the area has moved perceptibly upmarket and the latest project to reinforce this trend is Sutera Damansara. A joint venture between Permodalan Negeri Selangor Bhd and OSK Property Holdings Bhd, this guarded development with a landscaped recreational park and jogging trails will feature 431 units of double-storey terraces and three-storey corner lots in its first phase called Sutera Ria.Its standard unit with dimensions of 22ft by 75ft will have four-plus-one bedrooms and three baths in 2,305sq ft of space, while the three-storey version will have an extra bedroom and bath.Priced from RM433,350 to RM1,193,400 , the tropical-designed units will be specified with column-free porches to allow two cars to be parked side-by-side and high ceilings on the ground floor.The price range means the likely buyers will be those who can afford monthly repayments starting from RM2,300.The leasehold phase is slated for completion by January 2010 and is accessible from Jalan Sungai Buloh via Damansara Damai.

(New Straits Times 20-3-2008)

New Development :LBS to launch projects worth RM5bil in China

PETALING JAYA: LBS Bina Goup Bhd expects to launch property development projects in Zhuhai, China, with an estimated gross development value of more than RM5bil by year-end. Managing director Datuk Lim Hock San said the projects would include high-end bungalows and apartment units and he expected a good take-up due to strong demand for such properties. Datuk Lim Hock San“Zhuhai is a good location. Our site for the projects is near the LRT station and this has increased the value of our land,” he told reporters after the company EGM yesterday. A bridge linking Hong Kong, Macau and Zhuhai was also in the process of being firmed up by the relevant governments, he said, adding that the Macau tourism industry was also expected to have a spill-over effect on its property projects. Yesterday, LBS shareholders approved the proposed renounceable rights issue of 175.03 million new warrants. Lim said demand for property in China was still high and consumer spending had remained firm. He was confident that the group's revenue would be boosted by its China property development by end-2009. Locally, LBS was focusing on medium-to high-end properties due to higher building materials costs, including steel bars and cement, he said, adding that it planned to launch more mixed development projects this year in Bandar Saujana Putra and Taman Tasik Puchong, as well as industrial properties in Puchong. Read more

(The Star 20-3-2008)

Investors adopt 'wait and see' approach in Penang

PROPERTY transactions in Penang appear to have come to a standstill as investors wait and see how the state's economic landscape will unfold."We have received many concerned calls from our foreign investors, counterparts and clients, who are anxious to get a better feel of the ground on the implications for the property market," Henry Butcher Malaysia (Penang) Sdn Bhd director Dr Teoh Toh Puat told Business Times yesterday.He said that improving living conditions in Penang would help to attract foreign investment in properties and those looking for a second home."Attracting investments, tourism arrivals and residents, however, will be a greater challenge today in view of the growing Asia-Pacific real estate market offering alternative opportunities for investors in 2008," Teoh said. Henry Butcher Malaysia (Seberang Prai) senior manager Fook Tone Huat expects investors to take a few months to observe the new political developments before making any decision to continue their investments."Right now, I believe they will wait and see before they decide on their next move, and this will definitely slow down investments."However, if the new state government implements the 'transparency and fair to all' administrative strategy, it may create more market confidence," Fook said. Read more

(New Straits Times 20-3-2008)

KFH plans financing initiatives for ECER

KUWAIT Finance House (Malaysia) Bhd is in discussions with Terengganu's state investment company, Terengganu Inc, and its related companies on financing initiatives within the East Coast Economic Region (ECER). "We have looked into specific financing opportunities for some of the related companies, ranging from infrastructure, oil and gas, shipping, plantation/agriculture and IT (information technology)," said its managing director Datuk Salman Younis. "So far, all of the discussions are focused on financing," he said in a statement yesterday.On plans for retail branches within the ECER, Younis said the Islamic bank will evaluate the feasibility based on the success of its corporate, investment and commercial businesses there. He said the bank was currently involved in the financing of a flight training school and garment manufacturer, both in Kota Baru.Kuwait Finance House, one of the largest Islamic banks in the world, has embarked on several projects, including establishing a find investing about US$330 million (RM1 billion) for projects in the Iskandar Development Region.The ECER master plan envisaged Terengganu as a tourism gateway, hub for oil, gas and petrochemical industries, centre of educational excellence and agriculture focused on goat rearing and as a citrus valley.Kelantan will become centre of trading, human capital development, educational excellence as well as poultry and herbal cultivation.Pahang will focus on manufacturing and becoming a port city with integrated logistics distribution centre and palm oil industrial cluster as well as cattle and pineapple, while Mersing in Johor will be developed for tourism.

(Bernama 20-3-2008)

Ireka lines up office blocks for launch

KUALA LUMPUR: Aseana Properties Limited has slated two blocks of office towers for launch in downtown Mont’Kiara by year end.The project is pending approval from the local authorities, said Ireka Development Management Sdn Bhd COO Lim Ech Chan. Ireka Development, a wholly-owned subsidiary of Ireka Corporation Bhd, is the development manager for Aseana Properties, a property investment and development company listed on the London Stock Exchange with a market capitalisation of approximately US$250 million (about RM800 million).“The office towers are set to be a new landmark in Mont’Kiara with our hallmark i-ZEN inspired designs,” said Lim. The towers will be 28- and 16-storeys in height.Each floor will have an average floor space of 12,000 sq ft. “We are keen on selling off the entire floors to buyers. We are also looking at interested parties to purchase the offices en-bloc,” he said.The average price for the office towers is at RM850 psf. “We believe the property value will appreciate in time to come,” said Lim, after a signing ceremony with LG Electronics Sdn Bhd at the Tiffani by i-ZEN show gallery in Mont’Kiara yesterday.

(The Sun 19-3-2008)

Melati moving into property development

KUALA LUMPUR: Having made its name in the construction services industry, Melati Ehsan Holdings Bhd intends to move into property development to diversify its earnings. “Construction services are currently the group's main contributor. However, we are always on the look-out for ways to enhance our income stream,” managing director Datuk Yap Suan Chee told StarBiz in an interview. Listed on the Bursa Malaysia main board last March, Melati will be developing its sole plot of land in Pandamaran, Klang soon. The 100-acre land was purchased from Bank Negara unit, TPPT Sdn Bhd, for RM32mil cash, Yap said. Datuk Yap Suan CheeThe development, which has an estimated gross development value of RM500mil, will comprise about 500 gated residential units, 320 shop lots with 8.97 acres of commercial units and 6.92 acres of industrial units. Executive director Tan Hong Hing said apart from diversifying its income base, venturing into property development would enable the group to command higher margins. Read more

(The Star 19-3-2008)

SunCity in RM380m India condo venture

PROPERTY developer Sunway City Bhd (SunCity) said a joint venture agreement has been sealed with Hyderabad-based MAK Projects Private Ltd to develop a RM380 million condominium project in Hyderabad, India.SunCity will initially invest RM4 million to secure the project and subsequently increase it to RM17 million for a 60 per cent stake in the 5.67ha project.The project will feature 1,500 condominium units that will be completed in several phases over the next three years.The average size of the units is about 1,500 sq ft with an average selling price of RM208 per sq ft. Located 8km away from the newly opened Rajiv Gandhi International Airport and 21km away from the Hyderabad city centre, Phase One of the development is targeted for launching by early 2009.This is SunCity's second investment in India; the first being Sunway Opus Grand Residency which was signed in July 2007, another high-end condominium development on a 14.18ha located in the suburb of Ameenpur, about 15km northwest of Hyderabad.SunCity said it is on target to launch the RM1.5 billion Sunway Opus Grand Residency next month.SunCity also hopes to expand to other countries in the region such as China and Vietnam. Currently, it has presence in Australia, Cambodia and India.

(New Straits Times 19-3-2008)

SP Setia shares go on roller-coaster ride

SHARES of SP Setia Bhd, Malaysia's most valuable developer, went on a roller-coaster ride yesterday after the firm gave investors mixed signals on potential sales.The company initially told analysts that it is lowering its year-end sales target by 20 per cent to RM1.5 billion from RM1.8 billion.Based on the new guidance and other factors, analysts lowered their target price on the stock. The stock fell 3.5 per cent or 12 sen to RM3.32 in the morning session yesterday. The company then issued a statement to Bursa Malaysia during lunch, saying it is confident to hit a year-end target of RM1.8 billion. SP Setia shares rebounded in the afternoon, erasing all of the morning's loss to gain five per cent or 18 sen, to close at RM3.62.The company explained that its lower target was based on a "worst case scenario". This is if local councils in Selangor and Penang, states that have new governments, are formed late."Given the company's October 31 year-end, a delay of one to two months would have resulted in a timing difference of sales being made in FY2009 instead of FY2008," it said. Read more

(New Straits Times 19-3-2008)

AP Land buying Hokkaido land at RM6,132 per sq m

KUALA LUMPUR: Asia Pacific Land Bhd (AP Land) is making its foray into the Japanese real estate by acquiring a piece of land in Hokkaido, measuring 3,082 sq m, for RM18.9mil to build apartments. Based on the price, the freehold land is estimated to cost RM6,132 per sq metre, based on the company’s announcement to Bursa Malaysia on Tuesday. It was acquiring the land from Caymans Island-registered Tancho Investments would enable it to broaden its income into the property development sector in Japan . “The venture is expected to enhance not only the group’s future earnings but also its profile as a regional players in property development,” it said. AP Land had proposed to use part of the disposal proceeds of RM680mil from the disposal of City Square Centre and from borrowings to finance the acquisition.

(The Star 18-3-2008)

SP Setia expects to meet original sales target

PETALING JAYA: SP Setia Bhd is confident of achieving its original sales target of RM1.8bil for the year ending Oct 31 after it gets a clearer picture of the stance of the new state administrations in Selangor and Penang towards business. In a statement made available to StarBiz, group chief executive officer Tan Sri Liew Kee Sin said the property developer “should not face any problems adjusting to the new administration, which stated their commitment to uphold good governance, transparency and equal opportunity”. The statement came on the heels of a downward revision by SP Setia last week of its sales target to RM1.5bil from RM1.8bil due to worries over administrative uncertainties after the opposition took control of Selangor and Penang, where most of the group's projects are located. Liew said the revision of the group's sales target last week was made on the assumption of a worst-case scenario in the event of a one- to two-month delay in the establishment of local councils. “Such a delay could result in a timing difference in sales being made in FY09 instead of FY08,” he said in the statement. Read more

(The Star 19-3-2008)

SP Setia confident of meeting RM1.8bil sales target

KUALA LUMPUR: SP Setia Bhd is confident of meeting its original sales target of RM1.8bil for its financial year ending Oct 31, 2008 (FY2008). The company said on Tuesday that the group’s sales for the first four months of FY2008 amounted to RM646mil, which was significantly higher than the RM290mil recorded in the corresponding period in FY2007. ” The company had earlier alluded to a lower sales target of RM1.5 billion in the immediate aftermath of the general election on the assumption of a worst case scenario in the event of delays in the formation of local councils during the transitional period,” it said. SP Setia said given the company’s FY ending on Oct 31, a delay of one to two months would have resulted in a timing difference of sales being made in FY2009 instead of FY2008. The share price fell 24 sen to RM3.20 as 3.08pm today, but off its low of RM3.12 in intra-day on investors’ concerns about its lower revenue forecast.

(The Star 18-3-2008)

New Development:Utusan Seni Semidees, USJ

PETALING JAYA: Homeowners looking to upgrade in the Subang Jaya area has taken to Utusan Seni Sdn Bhd’s (Utusan Seni) development of semi-detached homes in USJ 17, Subang Jaya.The development called ResTrees – Utusan Seni's maiden foray into property development – is doing well with its first two phases already sold out.The RM140 million project was first launched in August last year. Its first two phases, comprising 20 units and 36 units respectively, have been 100% taken up while 19 out of 48 units in the third phase have been sold.“Ninety percent of our buyers are from USJ, with a few from SS 19 Subang Jaya and Shah Alam.Most of them are upgraders,” said Norhashimah binti Hashim, executive director of Utusan Seni.Phase 1 of ResTrees offers 2 ½ -storey semidees sized at 3,600 sq ft and tagged at RM1.3 million. Phases 2 and 3, also offering 2 ½ - storey semidees, come with larger builtups of 3,800 sq ft and are priced at RM1,533,800 and RM1,688,800 respectively.

(The Sun 18-3-2008)

Henry Butcher ties up with Aussie Builder

PETALING JAYA: Henry Butcher Malaysia, an international real estate consultancy firm has tied up with the Metricon Group, one of Australia’s leading home builders and land developers to offer Malaysian investors, customised investment home packages in Melbourne, Australia.Henry Butcher Marketing Sdn Bhd COO Tang Chee Meng (pix) said in a statement that the tie-up is the beginning of the group’s plans to increase its international property marketing portfolio. He added that the group plans to introduce properties from the UK, Singapore, Dubai, India, Vietnam and other fast-growing markets to the increasingly sophisticated Malaysian investors.The collaboration with Metricon aims to tap into Melbourne’s property market which has performed strongly over the last year, supported by a solid economy and an increasing number of international immigrants.The Metricon group which has over 30 years of experience in home building and is Victoria state’s largest home builder, has moved aggressively into the development of residential communities and integrated housing projects, after having established its core business as a boutique contract homes builder since 1976.Also in 2006, Metricon was named Victoria’s leading builder by the Housing Industry Association for its awardwinning range of homes in Victoria and Queensland.Metricon homes are covered by a 25-year structural guarantee. According to Tang, the collaboration with Metricon will help launch Metricon Homes’ entry into Malaysia, making available to Malaysian investors, quality and affordable homes from less than A$300,000 (about RM900,000) strategically located less than 25 km from Melbourne’s Central Business District.

(The Sun 18-3-2008)

UM Land identifies three sites for projects

JOHOR BARU: United Malayan Land Bhd (UM Land) has identified three new locations in south Johor for future development projects. UM Land Johor region general manager Mohd Noor Abdul Salam said all three were within the Iskandar Development Region (IDR), including one in Nusajaya city. He declined to give details on the other two locations and how much the company would invest to acquire the land. “We can’t say much now but our headquarters in Kuala Lumpur will make the announcement soon,” he said. Noor said this on Sunday after Johor Baru mayor Datuk Mohd Naim Nasir handed over house keys to buyers of the company’s Deanne Homes in Seri Austin. UM Land is currently undertaking two integrated township projects in Johor – Seri Alam in Masai and Seri Austin in Tebrau – both within the IDR that spans 2,216.3 sq km. Covering 1,497.33ha, Seri Alam was started in 1992 and is now 60% developed. Seri Austin was launched in 2005 and 20% of its 202.34ha has been developed. At the event, the company also launched 40 double-storey link houses – Arista II – with expected gross development value of RM35mil. Noor said the construction of new intersections, highways and road upgrading worth RM4.9bil for the IDR this year augured well for the property sector here. Read more

(The Star 18-3-2008)

Malton going into more high-end projects

MALTON Bhd is making efforts to further strengthen its branding in the residential and commercial property segments with a line-up of more exciting projects over the next two to three years.The company is looking at adding more value to its land bank of more than 600 acres in various parts of the country. “At present, some 70% of the company's projects are high-end while 30% are projects in the various existing townships, including in Puchong and Bukit Rimau, Shah Alam,” chief operating officer Yeoh Teng Tatt told StarBiz. Read more

(The Star 17-3-2008)

Revamped Magna Prima on stronger footing

SECOND board construction player Magna Prima Bhd is on a much better footing from three years ago when it was making losses. With a turnaround plan in place after a reshuffling of the top management and the board of directors, the company turned in a net profit of RM26.58mil for the financial year ended Dec 31, 2007 (FY07) compared to a net profit of RM119,000 the previous year. Revenue increased by 326% to RM344.44mil. Magna Prima has three current projects: the 88-acre leasehold Metro Prima in Kepong, a joint venture with landowner Kuala Lumpur City Hall that is almost completed; The Avare, a freehold 41-storey luxury condominium project located in the vicinity of KLCC; and the three-acre leasehold MagnaVille in Selayang comprising three blocks of 22-storey condominiums. Read more

(The Star 17-3-2008)

Wireless@KL Project to start in May

The "KL Wireless Metropolitan" or "Wireless@KL" project to transform Kuala Lumpur into a "wireless city" with world-class communication channels will begin in May, city mayor Datuk Ab. Hakim Borhan said yesterday.“In line with the Wireless@KL project, a community website, KUL.COM.MY, will also be set up and updated regularly to provide the relevant information to city dwellers,” Ab.Hakim told reporters after the signing of a memorandum of agreement (MOA) on the Metropolitan Kuala Lumpur portal project between Kuala Lumpur City Hall (DBKL) and Synapse Technologies (M) Sdn Bhd.The agreement is under the initiative of the Malaysian Communications and Multimedia Commission (MCMC) on behalf of the government, which has provided a grant of RM500,000 to City Hall for the purpose.On December 17 last year, City Hall signed a memorandum of understanding on Wireless@KL with MCMC and Packet One Networks (M) Sdn Bhd to enhance broadband facilities for City Hall offices and community centres and both public and residential areas in the Klang Valley by 2010."Wireless@KL uses WiMAX technology and for the first phase of this project 1,500 Wi-Fi zones will be developed,” Ab. HAkim said. He also said the KUL.COM.MY portal will be a “one-stop source of information” on Kuala Lumpur for people in and out of the country. The information will cover social, development, economic, trade, education, entertainment, tourism and other aspects, he said.Ab. Hakim said the portal will use the “broad spectrum approach” where it will collate and upgrade information from various sources for user convenience.

(Bernama)

Firm targets China and Vietnam

VENTURING overseas has become a viable option for many Malaysian property companies to widen their earnings base and establish a stronger brand image in the region. Developers with good track records and interesting project concepts to “export” to other emerging markets are making a beeline abroad. According to Malton Bhd chief operating officer Yeoh Teng Tatt, the company is eyeing China and Vietnam to introduce its brand of properties to the growing middle class and newly rich population. “We are talking to potential partners in those countries for possible joint ventures to undertake projects. Having established its name in building townships and niche residential projects, including gated and guarded projects in the Klang Valley, Malton is looking forward to replicate its success in other potential markets outside the country,” Yeoh pointed out. Read more

(The Star 17-3-2008)

IJM’s new unbilled sales in Penang at RM160mil

PENANG: IJM Properties Sdn Bhd has about RM160mil of unbilled sales from its new property launches in Penang since November 2007. The amount was part of its total unbilled sales of some RM580mil, managing director Teh Kean Ming told StarBiz. “In Penang the contribution comes from Nautilus Bay, a landed residential scheme located off the Jelutong Expressway, and Platino, a luxurious condominium project in the MetroEast mixed-development scheme next to the Penang Bridge,” he said. Read more>>

(15-3-2008 The Star)

Concubine Lane Ipoh, Perak

(14-3-2008 The Sun)

Hospitality industry grows with tourism

(14-3-2008 The Sun)

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)