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Monday, December 31, 2007

UEM Land’s Puteri Harbour to start taking shape in 2008

KUALA LUMPUR: UEM Land Sdn Bhd, the master developer of Bandar Nusajaya, Johor, expects several things to kick off in 2008 for the development’s RM5 billion Puteri Harbour precinct, said its managing director Wan Abdullah Wan Ibrahim.

Wan Abdullah Wan Ibrahim: The marina will be ready to receive its first yacht in August next year.

The freehold Puteri Harbour is an integrated waterfront and marina development, fashioned after the French Riveria. It has over 687 acres of commercial, residential, retail as well as leisure components.

“Construction for the Residential North Canal Estate and business hotel are targeted to be on the ground in the first half of 2008, while the Satellite Clubhouse and Puteri Harbour’s sales gallery are expected to be operational by August next year. Also, in August 2008, the 75-berth marina, one of the three marinas in Puteri Harbour, will be ready to receive its first yacht,” he said.

He added that the first building on the retail crescent, comprising high-end apartments, Small Office Home Office apartments, offices, retail and food and beverage space, is targeted to be ready by the first half of 2009. Among the features planned in Puteri Harbour are a wide
promenade by the water, low-density developments, thematic gardens and lush landscaping.

Wan Abdullah said that Puteri Harbour is a challenging project as it involves a lot of environmental issues. “It sits on one side of the Tebrau Straits and whatever we do on our side, would have an impact on Singapore’s end. Progress on the site is coming along well and we have completed the inner lagoon and would be able to open the waterway passage by mid-2008.

Also, all buildings have obtained the necessary approvals,” he revealed.

UEM Land, a wholly owned subsidiary of UEM World Bhd recently entered into a joint venture with a unit of Dubai World Company, Limitless Holdings Pte Ltd, to form Haute Property Sdn Bhd. The joint-venture company will undertake the development of the 111- acre residential north precinct of Puteri Harbour. It will be developed into an exclusive residential enclave featuring a mix of distinctive, canal-front homes with individual berthings, and luxury condominiums. The project is expected to be complete in five years.

Bandar Nusajaya is a 24,000 acre integrated urban development and is a key component within the Iskandar Development Region. The seven signature developments within the regional city are Johor State New Administrative Centre, Sourthern Industrial and Logistics Clusters, Medical City, EduCity, Puteri Harbour Waterfront Precinct, International Destination Resort and Residential.

By theSun (by Allison Lee)

Nam Fatt's Esente offers urban escape - the property is wired with a smart home system and designed to facilitate working from home

COUNTRY LIVING: Artist's impression of Esente Luxury residences

Property developer Nam Fatt Corp will be launching its latest boutique high-end residences at the Sultan Abdul Aziz Shah Golf Club (KGSAAS) in Shah Alam, Selangor, in September.

Called Esente, the contemporary luxury residences will comprise 13 exclusive and 12 semi-detached units as well as a bungalow.

Esente, which is Italian for "free", is situated in the high-security Zone C of the 240ha golf and residential community.

According to Nam Fatt, the development Esente@KGSAAS offers an escape for urbanites seeking a country-living lifestyle as the surroundings are pleasant and tranquil.

"An Esente home is one which is intelligently designed, comprehensively equipped with technology, and well laid out to facilitate conventional living while minimising clutter and opening up living spaces for unconventional working from home," the company said in a statement.

The Esente home is wired with a smart home system, which allows for lightening automation, panic button and data points in every room, among other features.

Internet connectivity is available throughout the property to facilitate residents working from home.

Nam Fatt said that Esente@KGSAAS goes beyond simple visual aesthetics as the highly-functional design also takes into account key elements of the tropical climate.

The property is cross-ventilated and extensively shaded, while the interiors are marked by plenty of natural light.

The semi-detached units are designed to appear like a bungalow with the pond that separates the two adjoining units within a single structure.

Nam Fatt is also releasing its limited stock of "reserved" bungalow plots for a more personalised creation.

By New Straits Times (by Hamisah Hamid)

Gadang looking at busy year ahead

BRIGHT OUTLOOK: Executive director Ling Hock Hing (right) and director Takhiyuddin Abdullah speak on a Gadang project early this year

Gadang Holdings Bhd, a construction and property firm, plans to launch a commercial building and two condominium blocks along Jalan Ampang in Selangor by the third quarter of next year, sources said.

Business Times understands that Gadang is in advanced talks with landowners in the area to develop the project on a joint-venture basis.

"Gadang is looking at building one block of office units with a total of 190,000 sq ft and two blocks of high-end condominiums with 350,000 sq ft. The units will have unique designs catering to local and foreign tastes," a source said.

The source said that based on valuation in the area, which currently exceeds RM500 per sq ft, Gadang is expected to reap a gross development value (GDV) of RM220 million from the project, which has yet to be given a name.

Gadang is also in talks with landowners in Johor to build residential and commercial units that could easily generate an additional RM250 million in GDV for the company, the source added.

Gadang managing director and chief executive officer Datuk Kok Onn declined to comment on the two proposed projects when contacted by Business Times.

He did, however, give details on the main board-listed company's plans for next year.

Kok said that Gadang had acquired about 4ha in Tanjung Bungah, Penang, to build luxury semi-detached homes, slated for launch in early 2009.

"We are looking at a GDV of RM60 million from this project, which will be our maiden development in Penang.

"We are sourcing for more land in Penang to expand our presence there," he said.

Kok was optimistic on prospects for the property sector next year, saying that the industry would remain encouraging with new buyers entering the market.

He also said Gadang will continue to launch housing and commercial projects next year, with the biggest in Tampoi, Johor, where it has 8ha, which will be developed in phases.

The first phase, comprising 40 shops and 512 serviced apartments, is expected to be launched early next year and to generate RM90 million GDV.

"We are planning to build a shopping mall within the development once we have established what we want to do with the remaining land," Kok said.

He added that Gadang is also in advanced negotiations for some land in the Klang Valley and Johor.

The deals, when concluded, will have a combined GDV of more than RM1 billion, Kok said.

By New Straits Times (by Sharen Kaur)