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Friday, February 12, 2010

Consortium developers to invest in iconic luxury GHM project in Bandar Enstek

From left: Tuan Hj Zaharuddin Saidon, Chief Executive Officer, TH Properties, Harish Davanam, MD Davanam Constructions Sdn Bhd, YB Datuk Mukhriz Mahathir, Deputy Minister, Ministry of International trade & Industry, Faizan Khan, MD Ascenteus Holdings Sdn Bhd and Sukhdeep Singh, Chief Operating Officer, GHM Ltd.

Ascenteus Holdings Sdn Bhd has joined hands with Indian developer Davanam Constructions to build an iconic GHM Country Club surrounded by luxury villas on 200 acres of natural environment in Bandar Enstek, Nilai.

The project envisioned by GHM Chairman Adrian Zecha will comprise a GHM- operated Country Club, surrounded by ultra low density, luxury villas.

The management and branding agreement was signed between the co developers- Ascenteus Holdings/ Davanam Constructions; and GHM, at a special signing ceremony yesterday, witnessed by Datuk Mukhriz Mahathir, Deputy Minister in the Ministry of International Trade and Industry.

Earlier, the Joint Venture Development Agreement was signed between TH Properties Sdn Bhd, Ascenteus Holdings Sdn Bhd and Davanam Constructions Sdn Bhd in July 2009.

GHM (General Hotels Management), a market leader in stylish luxury hotel development and management, and member of the exclusive ‘Leading Hotels of the World’ has an unrivalled reputation for conceptualising, developing and operating exclusive and stylish hotels and resorts worldwide.

GHM’s portfolio of properties includes The Setai (Miami Beach), The Legian & The Club at The Legian (Bali), The Nam Hai (Vietnam), The Strand (Myanmar), The Andaman (Langkawi, Malaysia), The Chedi Club at Tanah Gajah – Ubud (Bali), The Datai (Langkawi, Malaysia), The Chedi – Muscat (Oman), The Chedi - Phuket and The Chedi - Chiang Mai (Thailand).

“We choose only to get involved with properties where the owners truly share our vision to create a stunning property that is the best of its kind in the world. We believe the country club and villa estate in Bandar Enstek will be GHM’s most prestigious project to date in Malaysia,” said Hans Jenni, director and president of GHM.

The project with an estimated Gross Development Value of RM 1.2 billion, is slated to be a foreign direct investment (FDI) wherein the co developers Davanam Constructions and Ascenteus Holdings will raise the funding through Private Equity and Debt.

“Bandar Enstek is a strategic location with the F1 circuit and the KLIA being in the same vicinity. We are also taking advantage of the excellent infrastructure. Our target buyers will be high net worth Individuals drawn mostly from international circles,” said Faizan Khan, Managing Director of Ascenteus Holdings.

The residences are designed as ultra low density and high luxury with direct access to sought-after amenities provided by the Country Club. These include equestrian facilities, polo playing grounds, swimming pools, tennis and other sport facilities. The country club has been allocated 20-25 acres with the rest dedicated to the exclusive villas and luxury residences, totaling about 120.

“Malaysia and in particular Bandar Enstek is only a short air journey from Asia and it will be a much sought after destination for Asian and International high net worth individuals. We believe this development will redefine international luxury living” said Harish Davanam, Managing Director of Davanam Constructions.

Bandar Enstek, is a mega 5116 acres township master developed by TH Properties which is made up of four components, namely residential commercial, institutional and industrial. It is a vibrant development that has attracted world class developers for residential developments, educational institutions, medical facilities and international bio technology companies. Its strategic location next to KLIA and the Formula 1 circuit makes it one of the most promising townships in Malaysia.

By The Star

TH Prop plans eco-friendly features in Bandar Enstek

BANDAR Enstek aims to be a low-carbon township as it plans for eco-friendly features of solar-powered lighting and rainwater harvesting at its new clusters of resort-like clubhouse, villas and bungalows.

"Wherever possible we now want to incorporate natural lighting, recycle building materials and have the buildings powered by renewable energy like solar," TH Properties chief executive officer Zaharuddin Saidon said.

On immediate plans for the company, he said, a RM150 million residential project comprising terraced, double-storey linked and semi-detached houses will be launched later in the year.

"We'll design these luxury villas with Green Building Index certification in mind," Ascenteus managing director Faizan Khan said.
The gross development value of the 80ha project, estimated at RM1.2 billion in Bandar Enstek, Nilai, will be carried out in three phases. About 10ha will be set aside for the country club, while the remaining area will be used for luxury residences.

TH Properties Sdn Bhd, the overall developer of Bandar Enstek, had in July 2009, signed an agreement with GHM Ltd to manage the luxury-themed country club.

"We plan to have 40 villas and residences in each phase. This development is expected to be complete by 2015," Faizan told reporters at the management and branding agreement signing ceremony between Ascenteus, Davanam Constructions and GHM Ltd.

International Trade and Industry Deputy Minister Datuk Mukhriz Mahathir was present to witness the signing ceremony held in Kuala Lumpur yesterday.

The 2,046.4ha Bandar Enstek township, launched a decade ago, is expected to be fully developed by 2025. To date, 30 per cent of the land is built up and well-populated.

By Business Times

Sunway secures RM21.4m housing project from SunCity

KUALA LUMPUR: SUNWAY HOLDINGS BHD has secured a RM21.48 million contract from SUNWAY CITY BHD (SunCity) to build 100 double-storey cluster homes and one Tenaga Nasinal Bhd sub-station.

Sunway said on Friday, Feb 12 the completion date is Aug 1, 2011 with the construction period at 18 months.

"It is expected to contribute positively to the earnings of the Group for the financial year ending Dec 31, 2010 onwards," it said.

Sunway said the project is a related party transaction as Tan Sri Cheah Fook Ling is a director and major shareholder of Sunway and SunCity.

Sunway said it had obtained a shareholders’ mandate for recurrent related party transactions (RRPT) of a revenue or trading nature at its AGM on Dec 10, 2008.

"The RRPT mandate inter alia, covers the provision of construction works by SunCon or its subsidiaries to SunCity and its subsidiaries," it said.

By The EDGE Malaysia