Sutera Damansara garden community

Sutera Damansara will have linked homes, apartments, condominiums, superlinks, and semidees

LOCATED in Sungai Buloh, close to Sierramas, Valencia and Bandar Sri Damansara is OSK Property Holdings Bhd’s (OSK Property) first landed development in Petaling Jaya.

Sutera Damansara takes up 100 leasehold acres, and according to Stanley Wong (pix), senior sales and marketing manager of OSK Property, about 80 out of the 100 acres has been planned with a gross development value (GDV) of RM400 million.



A joint venture (JV) between OSK Property and Permodalan Negeri Selangor Bhd (PNSB). the
project’s first phase, Sutera Ria comprises 431 units of 2-storey linked homes. The 22ft by 75ft
homes have built-ups of 2,305 sq ft and are tagged at RM438,000. Since its soft launch early this month, the project has received more than 200 registrants. “Our target market are the upgraders from the Petaling Jaya, SS2 and Damansara Jaya areas,” said Wong.

“The concept here is to create a garden development with a green environment featuring a linear park with ponds, gazebo, jogging paths and extensive landscaping. We want to create a garden community that is cozy and nicely landscaped with a modern tropical feel,” he said.

Aside from its first phase of linked homes, Sutera Damansara will also offer apartments, condominiums, superlinks, semidees and 24 units of 22ft by 75ft shops.

According to Wong, the next phase would comprise 40ft by 80ft semidees and 24ft by 85ft superlink homes. “We’re finalising the designs for these units and targeting to launch the superlinks at the end of this year,” said Wong.

“We have already started piling work on the first phase, and we’ll officially launch it soon, when
the works have further progressed,” he said. Sutera Ria would be completed within 18 to 20 months while the entire Sutera Damansara would occupy them for the next five to six years, with another 20 acres yet to be planned.

Apart from Sutera Damansara, OSK Property has another project in the pipeline.

“We have a high-end development planned on Jalan Yap Kwan Seng, for which we have submitted the plans for approval,” said Wong, adding that the development will be a high-rise luxury condo within the KLCC area. The GDV is yet to be finalised.

One of OSK Property’s ongoing developments, Taman Sri Banyan has recently been completed. “We are applying for Certificate of Fitness (CF) now and will handover in April,” said Wong. Located in Country Heights, Kajang, the luxury bungalow project was launched in July 2007.

Out of 16 bungalow units, eight have been sold, while all 10 semidee units have been sold. The bungalow units are tagged at RM2 million each while the semidees are tagged at RM1.2 million each. According to Wong, the freehold project attracted buyers from the Klang Valley, Bukit Jalil and Kuala Lumpur areas and most of them are professionals and local businessmen.

He attributes this to the accessibility of Country Heights to Kuala Lumpur via the KL-Seremban Highway.

There will be a promotional event tomorrow at Taman Sri Banyan between 5pm and 9pm.

OSK Property’s other projects include Mont’Jade, a series of hillside bungalows in Seremban and Seremban 3, a freehold township where it recently launched 36 units of 1-storey shoplots early this month.

OSK Property’s flagship project, said Wong, is the 2,500-acre township named Bandar Puteri Jaya in Sungai Petani, Kedah.

Launched in 1999, the development is approximately 50% developed.

By theSun (by Yeong Ee-Wah)

SoHo development comes to Subang Jaya

Artist's impression of Subang SoHo

The Small office Home office (SoHo) concept has hit Subang Jaya in a big way with the upcoming
launch of Titijaya Group’s RM90 million Subang SoHo development in May.

Titijaya director Charmaine Lim Puay Fung told Propertyplus that while the SoHo concept is a current trend elsewhere in the Klang Valley, it is a relatively new one for Subang Jaya. “We thought of the concept when we were developing our other projects nearby as we saw that there were not many projects with the SoHo concept. We believe that Subang SoHo is the first project of its size and kind in SJ,” said Lim.

The 19-storey Subang SoHo sports a radical and ultra-modern façade with 448 units designed in a duplex layout. The units with split level and double volume 16 ft ceiling height have sizes from 563 to 1,086 sq ft and are priced from RM217,000. Maintenance fees are at 35 sen psf.

The 1.6-acre freehold project is open for registration of interest and Lim said the response has been good. “Since January, we have received over 800 registrants for the project and most are young professionals who can relate to the idea. They also like the location’s easy accessibility to highways and amenities,” she said.

The project is located in SS19 and is down the road from the shopping belt of Subang Jaya town centre consisting of Subang Parade and Subang Carrefour. It is also nearby to the Subang Jaya Medical Centre and educational institutions such as INTI College, Taylor’s College and Metropolitan College.

Lim said the project attracts young single people because it offers them greater privacy than renting a room. “The units can be used for work as well.

With the advances in computer software, big storage areas are not needed as a laptop is enough for everything. This appeals to entrepreneurs and businesspeople,” she said.

Further aiding the live cum work environment, is the building’s wi-fi facility for common areas and broadband ready feature.

Another attraction for buyers is that Titijaya has furnished all intermediate units. “This is an added convenience we offer. In our previous development of Tiaraville Serviced Suites development in Jalan Kemajuan, we found out that buyers favour furnished packages. They can bring their luggage and move in.

Investors can also rent the units out upon completion. It saves time and effort,” said Lim. Among the furnishings and fittings are plaster ceiling, two-seater sofa sets, kitchen cabinets, wardrobes, fridges and washing machines with dryers.

The project, which is slated for completion in 2011, will have three levels of car parking bays and a “sky club” on the rooftop. The “sky club” comprises swimming and wading pool, sky garden, tai
chi and yoga zone, reflexology path, BBQ function deck, garden deck and children’s playground.

Accessibility is via the North Klang Valley Expressway (NKVE), New Pantai Expressway (NPE), Lebuhraya Damansara-Puchong (LDP), Kesas Expressway, Federal Highway, Elite Highway as well as the Subang-Kelana Elevated Highway currently under construction.

For more details, call 03- 5637 3331/ 03-5637 4377 or visit www.titijaya.com.my


Click to enlarge...

By theSun (by Allison Lee)

Property expo for the super rich

More than 3,000 local and foreign potential investors and buyers are expected to attend the inaugural Malaysia International Luxury Properties Exhibition 2008 which begins today.

More than 40 developers are putting up some 100 development projects around the world, valued at more than RM1 billion for sale during the expo which ends on March 23 at the Kuala Lumpur Convention Centre.

Each unit on sale at the expo is priced from RM1 million onwards, and among the potential buyers are those from the Middle East and Europe, said organising chairman Moey Sai Yee. The exhibition is organised by Exhibition Guide (M) Sdn Bhd.

Moey said the bulk of the units on sale include luxury condos while the rest are bungalows and exotic holiday homes.

“Most properties are valued in the range of RM1 to 5 million while the rest are super luxury homes, above the RM10 to 16 million mark. The most expensive property is valued at RM30 million,” he added.

“Our expo essentially provides a platform for those who can afford the price tags of these luxury homes to spend time and view the property which is best suited to their taste,” said Moey.

“We have set up a VIP Lounge at the expo site where potential investors can sit in comfort and carry out their transactions in privacy,” he said.

“Two massage therapists have also been stationed in the lounge for our VIP guests.” Moey said the current economic climate is still positive for the property sector and this is the time for developers to lure foreign buyers.

“Traditionally, properties above RM1 million are only affordable to the upper class Malaysians and foreigners and there are plenty of choice properties available in this category,” he added.

“Our exhibition is open to all and anyone can walk in regardless of their financial standing.”

Among the participating developers are SP Setia Bhd, Sime Darby Property Bhd, Bolton Bhd, PJ Development Holdings Bhd, UEM Land, Dijaya Corporation Bhd, Glomac Bhd, IOI Properties Bhd, TH Properties Sdn Bhd, Country Heights, Metricon Homes (Australia), Hedgeford Sdn Bhd, Great Vision Group (Financial Investment) UK, and various other developers.

The participating financial institutions are AmBank, Bank Rakyat, HSBC Bank, Al-Rajhi Bank, Kuwait Finance House and Affin Bank.

For more related information about " Malaysia Luxury Property Exhibition 2008 "

By theSun (by Tim Leonard)

LBS Bina to transform into high-end property developer

SHAH ALAM: LBS Bina Group Bhd plans to transform itself into a medium- and medium high-end property developer to leverage on the current strong demand for this particular sub-segment and to improve profit margins.

The property developer, which used to focus primarily on low- to medium-income families, would launch new phases in its flagship property project, Bandar Saujana Putra, which has a gross development value (GDV) of RM5.2 billion.

Its managing director Datuk Lim Hock San said the interchange for the township, which will improve accessibility, was opened to the public on March 5 and was expected to improve Bandar Saujana Putra’s appeal.

“The next asset value for LBS is Bandar Saujana Putra,” he said, adding that LBS would build and launch “unit by unit” in order to optimise its profit margin.

Lim added that the development on the South Klang Valley Expressway (SKVE) was also underway and would enhance the value of its property projects when it was fully completed.

“Our area will become a strategic area, so we have to be careful with our launches. We will re-plan our concept to create value for shareholders and enhance the value of LBS,” he said.

The property firm still had more than 202 hectares of undeveloped landbank in the flagship project, Lim added.

“In terms of this land, we are aiming at the higher end market and sell high in order to get more value, more profit for the group,” he said.

LBS, which has a total landbank of 1,092 ha, including in China, decided to add medium-high and high-end properties in its development plan due to weak consumer sentiment and higher cost of buildngs materials such as steel and cement, he said.

Meanwhile, Lim said LBS expected to launch its more than RM5 billion GDV high-end property development project in Zhuhai, China by the end of this year and expected the project to boost the group earnings in the long run.

Speaking to reporters after LBS’s EGM here on Wednesday, he said revenue from its China property development project, which would be developed over eight years, was expected to start contributing to its topline by 2009.

“We are very confident about this project (Zhuhai property development project), it will be a boost to the group,” he said.

The project, targeted at the high-end market, was located within the proximity of a light railway station in Zhuhai and was expected to receive good response, judging from the overwhelming response to other property development projects launched within the vicinity, he added.

By The EDGE MALAYSIA (by Yantoultra Ngui Yichen)

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.

Lee said the company is open to working with major developers, and forming joint ventures with landowners, turning their site into an exclusive enclave.

"We want to be a luxury boutique developer under the Amarin brand," he added.

The company's private finance initiatives are expected to pay off when it launches its second luxury project in Kuala Lumpur in May.

Dubbed Amarin Wickham, the project, which is situated along Jalan Wickham in Ampang Hilir, is a low density five-storey super luxury condominium development consisting of 21 units of duplexes and triplexes.

"The project is valued at RM130 million and comprises four types of units ranging from 3,000 sq ft to 9,000 sq ft. We are pegging the units at RM1,300 per sq ft, which will translate to prices ranging from RM3.8 million to RM8.5 million per unit," Lee said.

There are seven super penthouses that will have a private roof-top pool, garden and jacuzzi, while the remaining standard units will have a private outdoor jacuzzi by the terrace and common pool area.

"We are targeting at least 60 per cent to be foreign buyers," added Lee.

By New Straits Times (by Sharen Kaur)

Mahkota Medical poised for growth

NEW FACILITY: Artist's impression of the lobby (right) and ward at the Regency Specialist Hospital

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.

In the financial year ended June 30 2007, the Malacca hospital recorded RM98 million revenue, of which 30 per cent came from medical tourism.

"For the half-year ended December 31 2007, we have already exceeded RM50 million revenue. For the full year, we expect to hit RM100 million," Lim said.

"We are a leader in Malacca in terms of market share. We probably command 45 per cent of the private-hospital business here," he added.

The Mahkota Medical Centre in Malacca, which is big in medical tourism with 80 per cent share of the foreign-patient market in the state, treated 50,000 Indonesians last year.

"We plan to grow medical tourism further through accreditation from the Malaysian Society for Quality in Health (in August), and are preparing for the Joint Commission International (JCI) in two years for both the Malacca and Johor hospitals," said Lim.

JCI is a global leader in healthcare accreditation and, since 1999, has accredited more than 140 hospitals in 27 countries.

With the accreditations, the group hopes to penetrate new markets, including Bangladesh and Europe.

By New Straits Times (by Vasantha Ganesan)

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.

"We are targeting patients, particularly from Singapore, and generally from Indonesia. We anticipate that we will have 50 per cent local patients and 50 per cent foreign in three years."

Lim said that Johor's potential for medical tourism is good as it has an international airport.

Health Management International Ltd of Singapore holds 48.95 per cent of the Mahkota Medical Group. Bumiputera-owned Maju Medik Sdn Bhd owns 38.42 per cent, while 12.36 per cent are held by doctors located all over Malaysia.

By New Straits Times

Emkay marks 25 years and growing

The Emkay group of companies, controlled by property tycoon Tan Sri Mustapha Kamal Abu Bakar, is set to earn stable and sustainable income for years to come, arising from strong sales and rental payments from its property projects.


From 2005 onwards, it will be the investment stage during which we will build specific buildings and then lease them out to earn recurring income for the group. Tan Sri Mustapha Kamal Abu Bakar - Emkay founder

Mustapha Kamal is also the chairman and dominant stakeholder of associate company MK Land Holdings Bhd, a property developer listed on the main board of Bursa Malaysia.

He holds 48.7 per cent of MK Land via privately-held MKN Holdings Sdn Bhd, which in turn is one of 15 companies owned by Mustapha grouped under the Emkay stable.

Emkay will be celebrating its 25th anniversary tomorrow. The event will be attended by former prime minister Tun Dr Mahathir Mohamad.

Mustapha Kamal said Emkay already had a three-phase plan when it started out in 1983.

Under the first phase, 1983-1993, it wanted to go all out to develop new property projects.

"Between 1994 and 2005, we went through the expansion phase.

"From 2005 onwards, it will be the investment stage during which we will build specific buildings and then lease them out to earn recurring income for the group," he said.





In Cyberjaya, for example, some international firms, especially information technology (IT), find it cumbersome to buy land and build their operational offices, he added.

Emkay and associate company Setia Haruman Sdn Bhd, the master developer of Cyberjaya, are embarking on a new initiative for Cyberjaya - constructing the buildings and then renting or selling them to investors.

Emkay chief operating officer Peter Teh Heng Poh said the RM100 million Bangunan Mustapha Kamal in Cyberjaya is a case in point.



The building is expected to be issued with its certificate of fitness this month, with tenants to come in soon after.

"This building, along with Emkay's other projects, will generate recurring income for the Emkay group of companies for the long term," said Teh.

Other ongoing projects include the Menara Mustapha Kamal in Damansara Perdana, Petaling Jaya, the RM350 million MKN Embassy Techzone in Cyberjaya and the RM300 million NeoCyberjaya mixed development, also in Cyberjaya.

Emkay started out with a landbank of 6,072ha, with gross development value of RM29 billion, enough to keep it busy for the next 10-15 years.

It has built 45,000 homes (some projects are carried out together with MK Land) on part of the 6,072ha. The homes, commercial and office blocks have a combined gross development value of RM13 billion.

Emkay is expected to open its RM77 million Belum Rainforest Resort on Pulau Banding in Grik, Perak, as early as this month.

By New Straits Times (by Zaidi Isham Ismail)

Mah Sing lines up RM1.4bil project

Ng Heng Pahi (right), Mah Sing general manager Tan Hun beng (left) abd marketing and sales manager Vevus Ho viewing a scale model for Southbay Penang.

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.

The commercial component will make up 70% of the project. And of that, about 50% will be serviced condominiums and the rest retail and fine-dining outlets.

Ng said the group would unveil the first phase of Southbay Penang this weekend.

”So far, we have received over 2,000 registrations for the preview,” he said, adding that Southbay Penang was the group’s largest project to date.

Mah Sing’s RM858mil Aman Perdana in the Klang Valley and the RM530mil Austin Perdana in Johor Baru are the group’s two other projects with sizeable gross sales value. Both projects are currently under construction.

The two township projects have landed residential and commercial components.

The first phase of Southbay Penang comprises 288 units of three-storey link homes with built-up areas of over 3,000 sq ft.

“The salient features are the six bedrooms and six bathrooms in each unit, high ceiling and a garden located on the second floor. There will also be clubhouse and a recreational park,” Ng said.

He said the second phase would comprise 88 bungalows with built-up areas of 3,800 to 8,000 sq ft.

“High-level security will be provided for in the first and second phases. We will also have patrolling guards and intrusion devices installed in the individual properties,” he said, adding that the landed residential properties were also targeted at overseas buyers.

The three-storey link homes are tentatively priced from RM755,000 onwards, while the bungalows will cost at least RM2.5mil each.

On the integrated commercial hub, Ng said the group would model it after seaside resorts such as the Darling Harbour in Sydney, the Canary Wharf in London, and well-known Mediterranean resorts in Spain.

“We are also interested in incorporating certain features of Xin Tian Di, the popular entertainment precinct in Shanghai, into our commercial scheme.

“The commercial hub will also have at least two hotels. We hope to finalise and submit the plans for the commercial component for approval before the end of the year,” he said.

“The whole development will be integrated via a landscaped boulevard which will be perfect for retail outlets, including alfresco dining and boutiques.

“We are targeting the commercial properties at foreign, notably institutional, buyers,” he said, adding that the group spent about three months to obtain input from potential house buyers in Penang.

By The Star - StarBiz - (by David Tan)