BY JESSIE LIM

Tan says the Bandar Seri Coalfields development, where Ixora Residences is located, is expected to become a major focal point in Sungai Buloh.

KLK Land Sdn Bhd, the property development arm of listed plantation company KLK Bhd, says its latest offering in the Bandar Seri Coalfields township development in Sungai Buloh will make ideal homes for young families.

The two-storey link houses of the Ixora Residences phase feature expansive built-up areas between 2,281sq ft and 3,033sq ft, four bedrooms and attached bathrooms, two built-in units of storage water heaters, 12ft high ceilings and pre-installed automatic gates. Prices for the homes start from RM630,000.

The company has plans for a total of 226 units, which will be built in three phases – with the second having just being launched. Units of the second phase are still under construction and are expected to be completed by mid-2017. This latest development is part of the company’s comprehensive 1,000-acre Bandar Seri Coalfields township, a freehold development with dedicated commercial hubs, public amenities like schools, hypermarkets, police station, and recreational facilities like a private clubhouse and 20-hectare park.

Tan says the Bandar Seri Coalfields development, where Ixora Residences is located, is expected to become a major focal point in Sungai Buloh. — SHAARI CHE MAT/The Star

To-date, KLK Land has delivered more than 1,000 homes in Bandar Seri Coalfields.

“Buyers of the homes in Bandar Seri Coalfields comprise families and working executives from places like Petaling Jaya, Kuala Lumpur and Sungai Buloh who seek landed homes with affordable price tags,” said KLK Land managing director Datuk David Tan Thean Thye.

Tan added that the township offered a conducive environment for young families as it was away from the hustle and bustle of the city. The township is easily accessed via the KL-Kuala Selangor Express­way, Guthrie Corridor Expressway, New Klang Valley Expressway, Damansara-Puchong Expressway and the upcoming Damansara-Shah Alam Elevated Expressway.

Tan also said there were plans to have multiple access points and better connectivity to the area through various forms of public transportation like Mass Rapid Transit and railways, both which are currently being proposed. Bandar Seri Coalfields is part of 2,630 hectares which KLK Land says it intends to turn into a major focal point in Sungai Buloh, and part of the Greater KL North area with Shah Alam North and Puncak Alam.

“We are already in the midst of working on plans for the other 2,226 hectares and we envision a great city in the making, offering home buyers and investors choice properties,” Tan said.

The post Sungai Buloh development holds promise for young households appeared first on Malaysia Premier Property and Real Estate Portal.

BY WONG PEK MEI

A group of residents of Fortune Park in Kepong held a protest in front of the Federal Territories Land Office at Jalan Sultan Hishamuddin today, against an upcoming  mix development project in Taman Metropolitan Kepong.

Mohd Khairul Safwan Othman Odanu, who was among 20 residents and who is the land office assistant director, was present to receive the letter from the residents. They were represented by Kepong community service centre head Yee Poh Ping.Yee said they wanted answers as to how the green lung could have been given up for the project.

“I have yet to get any answers from Kuala Lumpur mayor or anyone in Kuala Lumpur City Hall (DBKL) on details of this project,” he said.

They also protested at Menara DBKL 1 in Jalan Raja Laut after that.  On July 12, StarMetro reported residents of Fortune Park in Kepong were seeing red over an upcoming mix development project that is coming up at the community’s natural green lung. Its Residents Association’s chairman Chan Fatt Seong had said they were against the project as it was taking over the green area of Taman Metropolitan Kepong.

“It is the only green space in Kepong. Even people from Selayang come here to enjoy a walk,” he said at the site today.

The 53-year-old said the area was already congested at the main road of Jalan Metro Perdana Barat and traffic will increase with more people moving in.

“We are expecting about 17,000 to 20,000 people to live here. DBKL should resolve the traffic issue before they approve anymore projects,” he said.

A sign board displaying details of the project was put up at the site showing two blocks of affordable apartments (1,514 units) four blocks apartments (1,472 units) and 35 units of shop lot.

The post Residents stage protest against development project in Kepong appeared first on Malaysia Premier Property and Real Estate Portal.

BY MUGUNTAN VANAR

KOTA KINABALU: The Sabah state government is seeking greater autonomy for rural development projects.

Chief Minister Datuk Musa Aman said Wednesday that more control over rural development projects – like road infrastructure, electricity and water supply as well as household assistance programmes – would help expedite planning and implementation.

“The Sabah government wants autonomy in terms of planning, funding and implementation of rural development projects so that they can be completed and delivered on time,” Musa said in a statement.

He said there were too many agencies involved at the Federal level at the implementation stage that contributed to the delay of projects.

“When road projects are delayed or when projects involving water electricity supply are not implemented on time, the rakyat blames and even curse the government. They call us liars for not keeping our promises,” Musa said, adding that greater control of development funds by the state would make planning and implementation more streamlined and aligned with state’s overall development objective.

He said faster implementation would also dispel accusations by the opposition that the Federal government was not granting enough funds for the development of rural projects.

“By giving more autonomy, the state can plan and implement projects in a more holistic manner,” he said, adding that the state government has a proven track record in terms of managing its finances, with the Auditor-General having given it a “clean bill” for 14 consecutive years.

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BY SHALINI RAVINDRAN

Aerial view of the Ampang Forest Reserve with markings showing the proposed alignment of the Kuala Lumpur Outer Ring Road – Eastern Route. A total of 106.65ha will be used for the proposed project. – filepic

THE controversial East Klang Valley Expressway (EKVE) project has been approved by the Ampang Jaya Municipal Council (MPAJ) albeit with several conditions in place. Council president Abdul Hamid Hussain said the project was approved during a special One Stop Centre (OSC) committee meeting on Aug 12.

“Some of the conditions that the project developer Ahmad Zaki Resources Bhd (AZRB) must adhere to include submitting the latest Traffic Impact Assessment (TIA) study and verified by an independent body. A latest study of the Social Impact Assessment must also be submitted to the council.

“Another crucial condition is AZRB must also take into account improvements suggested by the residents in the proposed construction of the highway,” said Abdul Hamid.

The expressway was gazetted in the 2011 MPAJ Draft Local Plan 2020 (RT MPAJ). At a cost of RM1.55bil, the highway is designed as a closed toll system and with five toll plazas at each of the planned five interchanges.

Once completed, the EKVE will make up the final stretch of the Kuala Lumpur Outer Ring Road (KLORR) system. The project drew public outcry when it was made known that the Ampang forest reserve would be cut down.

The Selangor Forestry Department in February 2014 announced a proposal to degazette 106.65ha of the forest reserve for construction of the EKVE. A proposed Phase Two of the project was cancelled as it would have cut through the Ulu Gombak forest reserve north of the Klang Gates Dam, which is a water catchment area.

It was also announced in February this year that the company had received approval from the Federal Government to start work on the construction of the highway. MPAJ councillor Ahmad Sabri Abu Bakar said the proposal was endorsed by the councillors provided the conditions stipulated were met.

The congested MRR2 is a normal sight on a working day. Residents are worried that the EKVE will compound traffic congestion as it is an arterial road.

“The OSC committee, which comprise various government agencies, set the conditions and the councillors were satisfied with them.

“We have no objections as long as all the conditions are met,” he said, adding construction of the highway was expected to commence soon.

Sabri, who is also councillor for Zone 5 Bukit Antarabangsa, said the developers had also agreed to upgrading works as a contribution in corporate social responsibility.

“A 0.35km stretch of Jalan AU5 will be widened while Jalan Ukay Perdana will be expanded to six lanes from the current four,” he said.

Residents of Bukit Antarabangsa in Ampang are crying foul over the state government’s and MPAJ’s handling of their objections against the construction of the EKVE.

The Bukit Antarabangsa Residents Task Force (BARTF), a coalition of 32 residents associations within the enclave of Bukit Antarabangsa, Ukay Perdana and Ukay Bistari, said the various authorities had shown a lack of transparency, integrity and professionalism in addressing their concerns against the project.

The residents had earlier voiced their objections against the project for fears of compounding the traffic congestion near their houses.

They had proposed for an elevated highway that would bypass Jalan Ukay Perdana.

BARTF facilitator Dr Mohamed Rafick Khan Abdul Rahman said despite several attempts to engage with Selangor Mentri Besar Azmin Ali’s office, MPAJ and its councillors, residents had been frustrated with the lack of communication.

“During a meeting organised by Malaysian Highway Authority (LLM) and attended by MPAJ, AZRB and residents on July 1, it was agreed that a copy of the TIA would be given for us to evaluate and revert back to them within 60 days. Within that time, it was also agreed that no decision would be made on the project.

“But now we find out that the project has been pushed through the OSC committee meeting and approved with conditions,” he said.

Rafick said an independent review of the TIA was conducted by the Malaysian Institute of Road Safety Research (Miros) on behalf of the task force late last month.

“Based on their findings, there were several erroneous information in the original TIA, the most glaring of which is that it was done in 2012.

“According to the guidelines, the time lapse between the dates of a TIA study and its submission should be no more than two years.

“What is even more shocking is that the original TIA was done during the Chinese New Year festive holiday (Jan 23 and 24, 2012) when the volume of traffic was significantly less than normal.

“How could the OSC and the councillors have approved the project with the incomplete information?” he questioned.

Another BARTF facilitator, Brig-General Datuk Mohd Arshad Raji said the approval of the project was a betrayal to the residents.

“We are the affected residents. How can they not have consulted nor informed us of the decision to approve the project?” he asked, adding that the residents would continue to protest against the project.

The post RM1.55bil highway project gets green light appeared first on Malaysia Premier Property and Real Estate Portal.

Choices aplenty: Kho (right) chatting with Chow during a tour of the exhibition at Queensbay Mall, Penang.

THE secondary property market in the country is set to soar due to high demand, according to the Malaysian Institute of Estate Agents (MIEA). MIEA president Erick Y.T. Kho said the secondary property market in the country recorded 381,000 transactions worth RM152bil last year and the figure was set to increase this year.

“Penang had more than 6,000 transactions worth RM3bil last year and is similarly expected to record a higher number this year,” Kho told a press conference at the opening of the three-day Malaysian Secondary Property Exhibition (Maspex) at Queensbay Mall in Penang, last Thursday.

He said 60% of property sales in Penang last year were secondary properties as people were more keen to buy used properties which could save them on renovation and other intial costs.

Kho cautioned buyers to ensure they obtained properties through registered agents as there were at least 50,000 unregistered real estate agents in the country compared with only 20,000 registered ones.

“There has been a major increase in the number of people getting cheated by unscrupulous agents and the association has received numerous complaints on this issue,” he said.

International Real Estate Federation (Fiabci) Malaysian Chapter vice-president Michael Geh said that with the roll-out of major transportation projects under the RM27bil Penang Transport Master Plan, the outlook of the secondary property market in Penang was bright.

“Accessibility is an important factor for purchasers and the market is seeing a lot of optimism in view of these projects,” he explained.

State executive councillor Chow Kon Yeow, who opened the exhibition, said the ‘tug-of-war’ between the state and federal governments in the issuance of advertising permit and developer’s licence (APDL) for developers in Penang had put a damper on new projects but was confident the matter would be resolved.

He said more than 70 new housing projects had been delayed due to the issue.

“Without the APDL, developers can’t advertise or sign hire-purchase agreements and this issue has been unresolved since last year,” he added.

The post ‘Demand for properties to rise’ appeared first on Malaysia Premier Property and Real Estate Portal.

BY NORBAITI PHAHARORADZI

NUSAJAYA: Over 70% of the units in Elysia Park Residence’s first property was sold even before the project was officially launched due to its unique selling point. BCB Berhad group managing director Datuk Tan Seng Leong said among its attractive features, that attracted buyers, was the exemption from the real property gains tax and 15% tax rate scheme for Iskandar Malaysia workers.

“There are a variety of units, starting from 516 sq ft up to 1,252 sq ft with the price ranging from RM480,000 to RM1.1mil and lucky buyers stand a chance to get a special price of RM797 per sq ft.

“The project covers 3.16ha which includes the 1.7ha Mahkota Park to create a green and natural environment for Elysia Park Residence,” he said.

The Elysia Park Residence and Mahkota Park projects were launched recently by Johor Ruler Sultan Ibrahim Ibni Almarhum Sultan Iskandar.

Tan said a crown-fountain had been built at Mahkota Park to mark of the ruler’s recent coronation.

There were lots of activities organised including 3D mapping, culinary delights, lighting and fireworks shows, live performances of the famous violinist Dr Joanne Yeoh, Tom Jones of Malaysia and many others during the launch.

Tan said that the Elysia Park Residence had identified besides Malaysia, several countries including Singapore, Shanghai, Xiamen, Hong Kong, Indonesia and Taiwan as its target markets.

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By: EDDY N. S. HOH

IT is increasingly evident that the urban landscape is taking a further beating as a result of high density development which is now reaching a tipping point in many up-coming townships.

Many may argue that high density developments are approved projects complying with all the required regulations. But shouldn’t there be some form of check and balance before final approval, taking into consideration such things as the traffic situation and environmental concerns?

For example, environmental issues in some new developments may seem minor at first but turn out to be serious over time. The proposed TNB station at Ara Damansara, Selangor is a case in point. The core issue of concern among the affected residents and their loved ones is environmental contamination and pollution.

Those who are involved in the project would have reassured the residents that they are doing the right thing. But would they have considered the price to pay in terms of potential radioactive exposure and health hazards?

We have heard that not all scientific studies and investigations can be relied upon, as some could be based on scientific content not within the local context. We can relate to the plight of the people affected by the problems of bauxite mining in Pahang. Obviously, for them the reality is hard to swallow and we cannot blame them for trying to stop the mining activities in their area.

The regulatory authorities must take a neutral stand when laying down strict criteria for development projects. Is that too much to ask?

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For the three month period ended 30 June 2015, Hektar Asset Management Sdn Bhd  announced that Hektar Real Estate Investment Trust recorded positive gross revenue of RM 30.9 million, up 2.6% from the previous year’s corresponding period (2Q14). Meanwhile, Net Property Income (NPI) has also increased by 5.6%, to RM 19.7 million. Realised net income reached RM 11.9 million, up 3.4% from the previous year’s corresponding quarter.

For the cumulative period ended 30 June 2015, realised net income is RM 23.0 million, 4.7% higher than the preceding year period. The six months gross revenue was RM 62.2 million, up 3.0% over the six months ended 30 June 2014. NPI has also improved by 5.7% to RM 38.3 million.

“With commencement of the tenancy with MBO in Central Square, the occupancy rate has now improved to 97%. This has brought about a healthy rental reversion of 21.4% where previous rental rates were suppressed prior to our tenant remixing exercise and asset enhancement initiative. We will be re-launching the shopping centre in September 2015, and
we are excited to see Central Square grow into a modern and family-friendly shopping centre,” said Hektar Asset Management Sdn Bhd chief executive officer Datuk Jaafar Abdul Hamid.

“There was a softening in the retail market, especially post-GST, in the month of April which led to negative reversion recorded at Mahkota Parade. We remain cautiously optimistic of the retail performance for this financial year and hope to see improvements in the following quarters,” he added.

Hektar REIT declared an interim distribution per unit  of 2.60 sen, maintained as per the distribution declared in the previous year’s corresponding quarter. The Book Closing Date is September 3, 2015 and payment of the distribution will be made on September 18, 2015. Based on the closing price of RM1.50 on June 30, 2015, DPU for the year represented
a distribution yield of approximately 6.9%.

Hektar REIT maintains a distribution policy of at least 90% of distributable net income, which typically excludes items such as capital allowances and revenue arising from Financial Reporting Standards 117, an accounting standard adopted in FY2010.

Hektar REIT’s portfolio of shopping malls include Subang Parade in Subang Jaya, Selangor, Mahkota Parade in Melaka, Wetex Parade in Muar, Johor, Central Square in Sungai Petani, Kedah and Landmark Central in Kulim, Kedah. The portfolio’s catchment serves a market size of 3.0 million shoppers. As at end of the preceding financial year, FY2014, the portfolio had an average occupancy of 94.3% and recorded over 30.8 million shopper visits.

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BRDB property division chief operating officer Richard Ng Choon Seng receiving the prestigious award held at Majestic Hotel, Kuala Lumpur.

It was indeed a victorious night for BRDB Development Sdn Bhd, as the property developer was announced the winner of The Brand Laureate Special Edition World Award 2015 for Luxurious Lifestyle Developer at the award’s gala dinner. Over 700 guests comprising corporate leaders, brand owners and leading personalities were in attendance.

Organised by the Asia Pacific Brands Foundation (APBF), this prestigious award is launched in conjunction with the 10th Anniversary of The Brand Laureate.

BRDB bagged the esteemed award due to its rich brand history and achieving numerous milestones during the past 51 years. Its resilience is marked by its innovative spirit where it continues to evolve and meet the changing needs and lifestyles of consumers as well as the business community.

When receiving the prestigious award, chief operating officer of BRDB’s property division Richard Ng Choon Seng said, “The company’s success stems from our distinctive brand promise “inspired by the richness of life”, which is anchored on our three pillars of innovation – intelligent design, uplifting aesthetics and cosmopolitan living.

“These, coupled with BRDB’s commitment to quality and craftsmanship have resulted in addresses of enduring value; a true testament to our aim of creating tomorrow’s iconic communities today”, he added.

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SkyWorld Development Sdn Bhd opened  its RM12 million SkyWorld Property Gallery at SkyArena, Setapak, to 500 of its business partners, employees, guests and to a night of glitz and glamour recently.

“We are proud to host this party for our business partners and employees at one of Malaysia’s largest showroom gallery, in dedication of their support that has contributed to the success of SkyWorld in these early years.” said SkyWorld Development managing director Datuk Ng Thien Phing.

The massive gallery located in Setapak will showcase Skyworld’s Sky Arena development spanning across 28 acres.

“We wanted to thank SkyWorld’s business partners and employees for the success we have enjoyed with Ascenda Residences @ SkyArena, where Phase One was fully sold out within nine months based on word of mouth alone,” Ng said.

With that success, SkyWorld is set for greater heights with Phase Two, namely Bennington Residences @ SkyArena. This new development will feature 580 units of condominium residences built amid lush garden spaces and modern conveniences.

A mega mixed-development project covering 28 acres, SkyArena, Setapak, aims to nurture a vertical community built around health and wellness and designed around a 9.4-acre multi-facility sports complex. With completion slated for 2021, this mega-development will feature SOHO residences, a retail mall and commercial space, as well as a boutique hotel.

The highlight of the evening was models gracing the runway, showcasing an array of outfits embodying the essence and uniqueness of SkyWorld’s projects. SkyWorld owns prime landbanks in Setapak, Jalan Sentul Pasar, Bandar Baru Sentul, Taman Danau Desa, Bukit Jalil and Setiawangsa with potential gross development value totalling more than RM5 billion.

SkyWorld’s Appreciation Night was hosted by celebrity Nadia Heng (former Miss Malaysia 2010) and emcee CK Lee with celebrities Cathryn Lee, Joanne Yew and Wilson Tan attending as guests.

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Melbourne holds its five year title for most livable city in the world.

Melbourne remains the only city in the world to have this week topped the Economist’s Intelligence Unit’s (EIU) Global Livability Index for the fifth year in a row. The annual ranking looks at living conditions in 140 cities across the globe by assigning a rating across five broad categories, including: stability; healthcare; culture and environment; education; and infrastructure.

Ranked first, Melbourne cemented its positions with a perfect score of 100 in healthcare, education and infrastructure and within the culture and environment basket, a perfect 100 on sport underlining the Victorian Government’s continued investment in these priority areas.

Melbourne has consistently appeared in the top five cities since the ranking’s inception in 2002, and has taken out the top spot in the index for the past five years in a row. In the five years that Melbourne has retained its number one spot, international visitors to Victoria have increased by 8.0% per year, compared the national average of 4.7 % per annum.

Similarly, tourist expenditure in Victoria increased by 8.8% compared to a 5.2% per annum increase nationally.

“Once again Melbourne has come out on top confirming we really do have the best of everything in in Victoria,”  Premier of Victoria Daniel Andrews said.

“Melbourne offers an enviable lifestyle – some of the best sports and major events, the best artists and creative minds, the best universities and schools, the best entrepreneurs and ideas, world-class and well-connected infrastructure and a strong economy – what’s not to love!”, said Andrews.

Victoria Government Business Office of South East Asia executive director Helen Rowell said,  “To keep Victoria number one we need to keep investing in the future.  In 2015-16 the Victorian Government has invested $20 billion in major transport infrastructure and a further $5.4 billion to health and education to create more jobs and grow our economy.

“Our recent brand overhaul to Brand Victoria will also ensure Victoria and its magnificent capital Melbourne – remain the envy of the world when it comes to its economy, its cultural diversity, world class events and livability,” said Rowell.

The post Melbourne tops list as world’s most livable city, again appeared first on Malaysia Premier Property and Real Estate Portal.

BY VIKNESH ASHLEY
vikneshashley@thestar.com.my

Ekovest poises itself at the heart of KL River City with a cutting-edge riverfront development, EkoTitiwangsa.

Artist’s impression of EkoRiver Centre which is set to revitalise the Titiwangsa skyline.

The Gombak River, once dubbed Sungai Lumpur, is an offshoot of the Klang River. The confluence of these age-old rivers is responsible for the naming of Malaysia’s most populous city as well as national capital, Kuala Lumpur.

For now, the idea of recreation, let alone developing along these rivers, may be far-fetched due to a number of issues, such as the unbearable stench that these rivers give out as most of them are polluted. In the near future things may differ as Malaysia looks toward cleaning up its rivers, currently in a sordid state.

Aerial view of the facilities podium at EkoTitiwangsa.

The RM4.4bil River of Life (ROL) initiative by the Malaysian Government may just be the solution toward transforming the rivers flowing through the city of Kuala Lumpur. Property developer Ekovest Bhd is among the earliest to have emerged in thoughts with this movement, toward a more sustainable environment.

Ekovest Bhd managing director Datuk Lim Keng Cheng explains, “We hope to take the lead in Malaysia, introducing a breathtaking river-city concept named “Kuala Lumpur River City” (KLRC) along the line of South Korea’s Cheonggyecheon River Project in Seoul, South Korea.” Refreshing artist’s impressions of the mixed development envision a sparkling river teeming with water craft as well as people walking along its banks.

Placed at the heart of the KLRC project is EkoTitiwangsa, a pioneer launch which is the residential component perched atop a platform of chic commercial spaces of a much larger scale development by Ekovest. The housing phases of the development will stand tall at 50-storey for its tallest tower, across a 2.91-acre plinth of freehold land strategically placed along Jalan Pahang.

Take a glance at Kuala Lumpur’s impressive horizon as you unwind by the pool side.

The RM600mil freehold development comprises three low-dense service apartment blocks, Tower A, Tower B and Tower C, respectively holding 240 units, 180 units and 270 units. Each individual unit of this riverside property is semi-furnished with air-conditioning units, kitchen cabinets, hood and hob. The bathrooms are exclusively installed with vanity tops, shower screens as well as water heating systems.

EkoTitiwangsa caters to a varied reach of property buyers, evident from its assorted layout offerings suiting the different and individual needs of each owner. Tower A offers types A1 and A2, other than C1 and C2 layouts, while Tower B offers residences of type A3 and A4, type B1 to B5 as well as type C3 and C4 while Tower C offers type A5 and A6, type B1 and B2 and type C1 and C2 layouts.

“The unit sizes available to buyers range between 820 sq ft and 1,340 sq ft with most units enjoying an attached balcony for homeowners to enjoy the magnificent views of KLCC, exuberant views of the KL River City or optionally more calming views of majestic Genting hill,” Lim elaborates.

Sungai Gombak, once its metamorphosis is complete.

This eco-centric development offers greener pastures, breezy walkways as well as relaxing spaces with access to a variety of hotel-like facilities, including a gym, sauna and changing room, infinity and wading pool, Jacuzzi, designated barbecue areas and multipurpose halls and areas. Additionally, the service apartments also come with a laundry, surau and a playground.

“Residents of our revolutionary development can be rest assured a good night’s sleep as EkoTitiwangsa incorporates a three-tier, 24-hour CCTV surveillance using smart card access as well as guard patrol,” says Lim, stressing on how important the safety of future residents here is to him.

EkoTitiwangsa enjoys a range of amenities, which include walking distance to the LRT Ampang line as well as the KL monorail, close proximity to established medical institutions, renowned colleges, popular schools, restaurants, retail options as well as banks. Once complete the development will also feature a direct tunnel link to the Titiwangsa Lake and Recreational Park.

EkoRiver Centre is the brain child of revolutionary architecture with environmental sustainability at its core.

Getting to the construction site is easy as it is located approximately five kilometers from KLCC and enjoys links to most major highways such as the DUKE and DUKE 2, currently under construction, MRR1 and MRR2, The Sultan Iskandar highway and access to Jalan Pahang, Jalan Tun Razak and the Sentul Link.

EkoTitiwangsa is now at its land clearing stage, enjoying 90% in sales for its Tower C – the project’s first tower to be launched. As of now, unit types A5, A6, B1 and B2 as well as C1 and C2 are selling from RM720 per sq ft with SPA legal fee and loan agreement fee absorbed by the developer.

The post Vesting for future Titiwangsa appeared first on Malaysia Premier Property and Real Estate Portal.

Lots on offer: The StarProperty.my Fair 2015 in Johor will be showcasing properties by 22 developers.

JOHOR BARU: The popular StarProperty.my Fair 2015 starts today at the Johor Bahru City Square here.

The three-day fair is organised by StarProperty.my, collaborating once again with premium partners IJM Land, Tropicana Corp Bhd and Matrix Concepts Holdings Bhd.

Property buyers and investors will also be offered an array of projects from other reputable developers.

Among them are Mah Sing Group Bhd, Sunsuria Medini Sdn Bhd, IOI Properties Group Bhd, I&P Group Sdn Bhd, Macrolink International Land (M) Sdn Bhd, Horizon Hills and R&F Development Sdn Bhd.

First-time buyers and homeowners looking to upgrade are invited to shop for their ideal home at the fair that offers a broad range of options, such as affordable compact units, high-end condominiums and landed ­property.

The three-day event will also showcase four property-related talks – Khalil Adis and Master Sandy Paw tomorrow, and Dr Daniele Gambero and Ryan Khoo on Sunday.

Visitors interested in industrial property can benefit from the talk by Khoo on “Why Manufacturing is Driving a Boom for Industrial Property in Iskandar Malaysia”.

Manufacturing investments in Johor, said Khoo, was the highest in Malaysia at RM21.2bil in 2014, beating more developed states, such as Selangor, Kuala Lumpur and Penang.

“Johor was also the highest recipient of manufacturing investments in 2013.”

Khalil will talk on “First-time and Affordable Homes for Johoreans” while Paw will talk about “Feng Shui and You: How to Select a House With Good Feng Shui”.

Gambero will talk on “How to Win the Property Investment Game: The Golden Rules to Become a Smart Investor”.

Visitors can take part in a quick survey at the StarProperty.my booth for a chance to win a Samsung Galaxy Tab 3 Lite or a one-year subscription of The Star ePaper worth RM350.

Those who buy properties at the fair can submit their sales order form to the StarProperty.my booth to participate in a lucky draw and stand a chance to win Senheng cash vouchers worth RM888, RM2,888 or RM5,888.

The StarProperty.my Fair is open from 10am to 10pm.

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BY CHERYL POO

All for one: (from left) S P Setia executive vice-president Kow Choong Ming; executive vice-president Tan Hon Lim; deputy president and COO Datuk Wong Tuck Wai; executive vice-president Datuk Koe Peng Kang; Malaysia Airlines MICE head Manmohan Singh Chatar Singh; Canon Malaysia sales and marketing director Alison Lim and senior sales and marketing manager Edward Chang at the launch of Jet Set contest.

PETALING JAYA: SP Setia Bhd will soon launch its latest project, a 9-acre freehold residential development in Penang with a gross development value (GDV) of RM350mil.

The property developer, formerly a construction company, has 150 acres of undeveloped land in Penang.

Nine acres are being developed into a freehold residential project comprising apartments averaging 1,100 sq ft within a price range of RM800,000 to RM1mil per unit.

The development will be launched in the last quarter of the year, its acting deputy president and chief operating officer Datuk Wong Tuck Wai told StarBiz at the Jet Set contest which was part of the Setia 40th Anniversary Campaign. “Most of the approvals have been obtained.”

The campaign entailed a contest open to all S P Setia’s property buyers based in Malaysia, who signed their sale and purchase agreement between Jan 1 and Dec 1, 2015.

There would be three draw events – Sept 19, Oct 31 and Dec 12 – for buyers who paid at least RM201,000 per unit of real estate.

Eighteen winners stood to win a trip for two to London, Melbourne, Nanning, Ho Chi Ming, Singapore and Langkawi.

S P Setia has a total land bank of 4,200 acres in Malaysia and overseas, all of which constitute a collective GDV of RM70bil.

“We are also looking to strengthen our presence in Singapore and Australia seeing as our properties there have gained traction,” Wong said. “We are eyeing Melbourne as well as other cities. If there is the opportunity, we may even go into the suburbs to develop a township.”

In Singapore, S P Setia’s properties are the luxury apartments 18 Woodsville and high-rise residential development EcoSanctuary, and in Australia, high density apartment building Fulton Lane in the Central Business District and luxury apartments Parque Melbourne.

Wong said the property developer was on track to achieve its sales target of RM4bil for the financial year ended Oct 31, which will be changed to Dec 31 to follow the accounts of its major shareholder Permodalan Nasional Bhd.

The target for the year was initially set at RM4.6bil as S P Setia achieved RM4.3bil last year, but scaled back on the soft economic environment.

“All developers are faced with a tight lending regime. We need to wait for banks to approve loans, although the capturing of bookings has been on track,” Wong said.

On the weaker ringgit, Wong said the Battersea Power Station project in London would not be badly affected.

“We have a great chief financial officer who has done all the hedging for us, hence the investments are well mitigated,” he said.

Meanwhile, Wong said there was no news on the takeover of S P Setia by its other major shareholder, Sime Darby Bhd.

“So far, we have not heard anything on the matter,” he said.

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PETALING JAYA: WCT Holdings Bhd’s net profit for its second quarter ended June 30 dropped 9% to RM31.06mil from RM34.30mil in the previous corresponding period, mainly due to lower contributions from overseas projects and its property development segment.

Revenue during the quarter, meanwhile, increased to RM422.31mil from RM401.47mil a year earlier.

Basic earnings per share (EPS) was lower at 2.89 sen, compared with 3.14 sen in the previous corresponding period.

For the six-month period ended June 30, the builder-cum-property developer’s net profit dropped to RM64.27mil from RM74.40mil in the previous corresponding period, while revenue in the first half of 2015 slipped to RM773.93mil from RM868.69mil a year earlier.

In a filing with Bursa Malaysia yesterday, the company said the lower revenue was due to lower sales of properties.

Basic EPS in the first half was lower at 5.97 sen, compared with 6.82 sen previously.

WCT said its engineering and construction division had recorded a revenue and operational profit of RM586mil and RM67mil, respectively, in the first half of the year.

The company added that its property development and investment segments had registered a revenue and operational profit of RM188mil and RM45mil, respectively.

Looking ahead, WCT said with the impending implementation of the 11th Malaysia Plan and the rollout of infrastructure projects, the group is cautiously optimistic of achieving satisfactory results for its financial year ending Dec 31, 2015.

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ALMOST every square metre of land around central Kuala Lumpur is under development.

From areas surrounding the KLCC, KL Sentral, Bangsar Utama, Bangsar North, South, East, West, Mid Valley to the concrete jungle of Mont Kiara, they are either being developed or are already developed with high-rise condos, office towers and malls.

With development taking place, there has been a tremendous surge in people and vehicles which has led to frequent and horribly frustrating and stressful traffic jams especially during rainy spells.

While all this is happening the infrastructure, in particular the roads, remains the same. Small narrow roads contribute to all the traffic chaos and nightmare which we are enduring every day.

How can the town planners approve development plans without consideration for proper road widening and traffic flow?

In comparison, Singapore, a much smaller state with equal level of development, is so well planned with excellent roads and greenery.

So can the town planners please wake up and do the needful to alleviate the citizens’ daily nightmare?

N. KUMAR

Kuala Lumpur

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BY: CAITLYN NG LI YUIN

Designers have a new take on how to maximise space usage.

One of Nu Infinity’s beautifully designed spaces that allow for maximum natural light exposure.

“The bigger, the better”, so the saying goes. While this may hold true for many things such as food portions, your bank account and sometimes even hearts, this wouldn’t be a good thing for your waistband or even the size of furniture in a compact residential unit.

Imagine trying to squeeze that brand new sofa set, coffee table, TV cabinet, chest of drawers and chaise lounge into a 600 sq ft studio, and you have yourself a recipe for a massive headache. Keeping things simple, the furniture basic and following a clean style is key.

Nick Fong and Alex Lee, founders of Nu Infinity were on hand to present their talk titled ‘Small is the new big’ during a recent StarProperty.my’s Own It forum. A comfortable living environment is always a welcoming respite from the hectic pace of modern life, and the dynamic duo understand what it’s like to create a harmonious blend of well-rounded designs.

“We decided to venture into this business together out of passion for what we do. We believe in understanding exactly what our clients want, solving their problems and providing them with an avant-garde approach to the designing process,” Alex said.

All in the colours

One of Nu Infinity’s rooms appears larger with a bright colour palette.

First off, when you walk into a room, start by deciding what effect you want to achieve. If it’s spacious and airy, then cool and soft colours such as spring lilac and pale mint are the way to go; warmer and richer shades such as pumpkin-orange and brick-red will give you the impression of a snug and cosy room. However, the rule of the thumb would be to paint everything in shades of white to open it up and make it feel sophisticated.

If whites feel bland to you, add a pop of colour in the form of one statement wall; blues, greens and greys have the ability to make it seem as though the walls are receding. To further enhance the room, a well-placed mirror will do much to solve many deco dilemmas. It could reflect and amplify light, expand walls, as well as break up visual clutter.

Go small

One of Nu Infinity’s rooms using small furniture pieces to lessen clutter.

The furniture pieces should be kept simple and small so that more floor space can be seen, thus giving the illusion of a larger area. Do away with bulky coffee tables and instead use a mix of side tables to create an ‘artsy’ environment. Sofa sets can be replaced with upholstered stand-alone chairs or large throw pillows on the floor, allowing guests to choose where in the room they would like to get comfortable. Being able to move things around makes you feel less bound and cramped.

Smart storage 

One of Nu Infinity’s rooms making use of the wall space for built-in cupboards.

While regular cupboards are useful in storing lots of items and keeping the dust out, they will take up quite a bit of precious floor space. Why not start making use of alternative solutions such as storage shelves built into walls, cleverly integrated above-door shelves and racks that are custom-made to fit perfectly underneath staircases. There are even sofas and ottomans that open up to reveal spaces for your magazines and other miscellaneous items. They function the same, and your guests will be impressed by how much extra hidden space you have!

For extra brownie points, did you know that your windows can also function as a clever storage space? Where conventional wisdom once dictated that clothes needed to be hung outside for faster drying and better ventilation, there are plenty of ingenious ideas that suggest otherwise. “Windows can be an excellent substitute, but it can be quite unsightly to see wet garments plastered all over. Take to installing foldable window slats that can double as racks for all your apparel when pulled downwards,” says Nick.

Open up!

Finally, if you’re feeling particularly adventurous, and your unit happens to have really high ceilings, then why not create an entirely new space altogether? Many people are now turning to extensions to create a mezzanine floor. These give the impression that your small space has a double level, which can be used as an extra storage space, a mini library for your abundant book collection or even a spare bedroom for your more adventurous guests! While it may look easy to construct, safety should always come first, and a professional should be consulted on the best materials to use (wood, bricks or cement).

A small space is akin to a jewellery box; fill it up with just the right gems, and it can be a wonderful place full of discovery, and a joy to behold!

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COME Sept 1, households in Negri Sembilan, Kuala Lumpur and Putrajaya and five other states will have to separate recyclable waste from their rubbish.

It is only days away but, as a resident in a housing area in Seremban, I have yet to hear or receive any instruction on how to go about this.

Besides the reports in the newspapers, there hasn’t been any detailed information on the basics of the process. No notice or banner has been put up or letters dropped in the mailbox. There is also no invitation to any public forum/meeting on the matter and even my regular collector of old newspapers said he has no idea how it should be done.

Have I missed something or is the Seremban Municipal Council (MPS) only planning to do something about this after Sept 1? It would be good if we knew MPS’ plans on this.

Their officials are certainly welcome to visit the housing areas to explain and even demonstrate how rubbish is to be separated and prepared for collection by the designated agency.

Here are a few pertinent questions.

Must plastic, glass, aluminium, metal and other food containers be washed and cleaned before they are put into the bin(s) for recyclable wastes? If they are not cleaned, they will have to be wrapped in plastic bags before they are dropped in the bins otherwise they would attract ants and flies since collection is done only once a week.

Would households be supplied with bins for the recyclable waste? There has been no word on this thus far. If households are to use three separate bags (plastic presumably) as suggested, these bags have to be reasonably large and thick enough to hold the contents.

Three bags a week works out to about 160 bags a year and that is a lot of plastic. So, ironically, are we encouraging the use of plastic here? This will also incur additional cost to the households. In the long run, some kind of reusable containers or bins would be more viable and environmentally-friendly.

What about garden waste like broken/cut branches, twigs, leaves, flowers, rotten/spoiled fruits, old pots and vases? Usually these are left on the road kerbs and not collected for months on end.

Be that as it may, I am optimistic and hopeful that our attitude on waste disposal will be transformed as we comply with the new regulations on waste separation.

Last but not least, let me also share my observations and experience on domestic waste disposal when I was in Melbourne, Australia for about six weeks recently.

I saw garbage being sorted into three big bins labelled food wastes, recyclables, and garden wastes respectively. These were collected on different days in different trucks. Food wastes were collected every Monday, recyclables (paper, glass, plastic, aluminium, etc.) on alternate Mondays, and garden wastes on Monday and upon request. The recyclable wastes are sorted out by the collecting firm.

During the six weeks I was able to observe five Monday morning collections. The trucks arrived within an hour of the scheduled times and the workers did their jobs professionally, leaving no rubbish on the roads or pavements. They seemed to enjoy their work and took pride in it as well.

LIONG KAM CHONG
Seremban

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Proposed public issue to raise minimum proceeds of RM242mil

PETALING JAYA: Eastern & Oriental Bhd (E&O), which reported a 22.6% rise in net profit to RM23.3mil in the first quarter ended June 30, is planning to list its UK-based property unit on the Alternative Investment Market (AIM) of the London Stock Exchange.

The proposed public issue of E&O plc is expected to raise minimum gross proceeds of £36mil (RM241.5mil), which would be utilised for debt repayment to E&O Property Development Bhd, property development expenditure, as well as working capital, investments and acquisitions.

In a filings with Bursa Malaysia, the lifestyle property developer said the proposed listing of E&O PLC on AIM would involve proposed placings, a restricted offer and offer for sale of up to 250.99 million shares, or approximately 70% of the enlarged issued and paid-up share capital of the company, with matching warrants.

This proposed global offer would comprise a proposed public issue and the proposed offer for sale.

The group said that the issue price per initial public offering share and the exercise price per warrant would be determined at a later date.

The proposals are expected to be completed by the fourth quarter of 2015 or the first quarter of 2016.

E&O PLC’s assets are invested through its subsidiaries, namely, Hammersmith Properties Ltd, Hammersmith Development (UK) Ltd and Loxley Holdings Management Ltd.

E&O PLC and its subsidiaries would be redeveloping three real estate properties in London, being Landmark House and Thames Tower, which are located in Hammersmith, West London, and ESCA House, which is located in the Bayswater area of West London, subject to it obtaining relevant planning consents from the relevant authorities.

Separately, E&O announced yesterday that its net profit had risen 22.6% to RM23.3mil in the first quarter from RM18.96mil a year ago, driven by the share of results of an associate, despite lower revenue.

The group’s revenue fell 47% to RM68.89mil from RM129.74mil a year ago. Its earnings per share rose to 1.90 sen for the quarter in review from 1.56 sen in the previous corresponding period.

“The decrease in revenue is due to lower revenue recognition, following the completion of two blocks of the Quayside Andaman Condominium in Seri Tanjung Pinang in the previous financial year,” the company said.

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“The group expects this unbilled sales to translate into higher revenue for the second-half of the year.”

PETALING JAYA: I-Bhd’s net profit for its second quarter ended June 30 dropped 56% to RM8.52mil from RM19.41mil in the previous corresponding period, while revenue fell to RM52.73mil from RM70.65mil a year earlier.

In a filing with Bursa Malaysia, the master developer of i-City said the drop in earnings was due to the lower contribution from the property development segment. “Although there is more revenue recognition due to more projects being developed this year, the profits are lower, as the property products that were developed in 2014 had better margins than the current property products.”

For the six-month period, net profit dropped to RM18.75mil from RM25.51mil in the previous corresponding period, while revenue increased to RM128.07mil from RM115.56mil a year ago.

The company said the group had sold 50% more property than in the first-half of 2014, resulting in unbilled sales growing to RM580mil as at the end of June compared with unbilled sales of RM418mil as of end-June 2014. “The group expects this unbilled sales to translate into higher revenue for the second-half of the year.”

I-Bhd deputy chairman Datuk Eu Hong Chew (pic) said the company expected revenue to continue to grow in the second-half of this year and in the next few years, as some of the ongoing property development projects are still at the initial stage of construction.

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