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Monday, August 9, 2010

Strong take-up for Goodwill Polygon's Qube

Property developer Goodwill Polygon Sdn Bhd has sold 70 per cent of its new commercial project called Qube in Shah Alam, Selangor, taking advantage of a shortage of such developments in the city.

The 17-storey office building, with retail lots, has a gross development value of RM130 million and is due to be ready by August 2013.

"Most of the non-Bumiputera lots were sold out; the majority lots left are Bumiputera lots. We really hope they will be taken up soon," said CASB Group of Companies director Prudence Wong. Goodwill Polygon is the property arm of CASB Group.

According to a survey conducted by CH Williams Talhara & Wong, there has been no new supply of retail-cum-business development centres in Shah Alam since 2000. Some 580,000 people live in Shah Alam and there are about 183,000 small businesses in the city.

"Qube will cater to the needs of business owners looking for a more prominent corporate address in Shah Alam. The survey shows that the demand is there for this type of development," she said.

The current office blocks located around Shah Alam are also 98 per cent occupied. The development of Qube 2 is already in the pipeline, and it is expected to be launched as early as next year.

The development sits on a 1.4ha site, of which 0.7ha is for the development of the first phase of Qube and the remaining for its second building.

The size of Qube business suites range between 548 sq ft and 2,300 sq ft each and prices start from RM450 per sq ft onwards. Meanwhile, the retail lots will be leased out for rental income.

Yesterday, the company organised a property seminar "Maximise Profits for Your Business" in Shah Alam to educate business owners and investors on property investment. Four renowned property gurus, Ho Chin Soon, Jeevam Sahadeevan, Master David Koh and Milan Doshi spoke at the event.

By Business Times

Aiming for business with Qube

Goodwill Polygon Sdn Bhd officially launched its new commercial development project QUBE today at a local hotel in Shah Alam. Strategically located in the heart of Shah Alam, QUBE is set to become the sought after business address in Klang Valley with its iconic structure designed to deliver the highest level of architectural visibility and style.

The QUBE business suites is one of its kind which redefines luxury and incorporates a harmonious blend of state-of-the-art technology and cutting edge architectural design, which each element is enriched to provide top-class quality for buyers; a definite promise in exceeding their expectations.

Located in the upcoming growth area in Klang Valley, QUBE has been skillfully designed and will feature impeccable amenities, a higher level of security and exude a sophisticated urban ambience. This intelligent planning comes with eco-friendly features that create a conducive working environment which leads to higher inspiration, motivation and harmony.

Besides this, the building will also be equipped with high-tech facilities to ensure that occupants are able to work in a safe, convenient and comfortable environment.

“We care about our clients’ business and designed QUBE according to feng shui principles by engaging renowned expert Professor Master David Koh to produce an environment where people working in it can be more productive and achieve more with the same effort, and with less stress” said CASB Group of Companies director Prudence Wong.

“In terms of investments, investors do not have to worry as we assure you a rock-solid chance in generating your income. This is due to limited stand alone purpose-built office buildings in Shah Alam which will definitely increase the demand for office spaces, making QUBE very attractive in capital appreciation” added Wong.

Convenience is certainly a great benefit for those working at the QUBE as places to rest and relax after a hard day of work is just around the corner. There are plenty of F&B cafes, restaurants and hypermarkets all situated within a few minutes from the QUBE which will certainly attract bigger crowds to your business.

Goodwill Polygon Sdn. Bhd is one of the property arms’ of CASB Group of Companies. The group’s main mission is to be committed to a world of wealth where there is abundant cash flow and outstanding capital appreciation for their investor and shareholders, all done with pure integrity whereas their vision is to be the leading, most successful and profitable company in the accumulation of wealth through prudent real investment.

Goodwill Polygon understands perfectly that investors would like to enrich their investment with top class quality to complement the overall experience at the QUBE, which is why the group placed immense focus in making QUBE the epitome of a luxurious yet comfortable business location, home away from home with features such as; eco-friendly, high-tech facilities, promising capital appreciation, strategic location, revolutionary design and excellent feng shui.

The potential of QUBE is realized in the Latest Development Survey of Shah Alam provided by CH Williams which reveals that there has been no new supply of incoming buildings around the Shah Alam area since year 2000. In addition, the current office blocks around the area have high occupancy rates of 98%.

In conjunction with the Official Grand Launch, Goodwill Polygon Sdn. Bhd will be organizing a QUBE Executive Event “Maximise Profits for Your Business”. The objective of organizing this seminar is to educate business owners and investors about how to maximize their business profits through branding, location and Feng Shui. Four top Gurus: Grand master David Koh, Jeevan Sahadeevan, Ho Chin Soon and Milan Doshi will be sharing their secrets during this full day seminar.

For both buyers and investors who are interested to view the show unit please call 03-55188333 or check out to enjoy early bird discounts.

By The Star

Menara Taipan Star in Golden Triangle for sale

Sited behind Shangri-La Hotel Kuala Lumpur and UBN Apartments, the property comprising an 18-storey office building and a 25-storey apartment block is going for an estimated RM306 million.

Menara Taipan Star in Jalan P. Ramlee in Kuala Lumpur's so-called Golden Triangle, has been put up for sale for an estimated RM306 million.

Located behind Shangri-La Hotel Kuala Lumpur and UBN Apartments, the property comprises an 18-storey office building and a 25-storey apartment block.

According to international property consultant Rahim & Co's website, the property is freehold and has a land area of 2,789 sq m.

The office building has a gross floor area of 198,571 sq ft and a net lettable area of 131,184 sq ft.

The buildings belong to Taipan Star Sdn Bhd and the people behind Taipan Star are three directors of SHL Consolidated Bhd.

Sources said the property had been up for sale for sometime.

Rahim & Co did not give additional information apart from what was available on the website.

SHL's annual report for the financial year ended March 31 2009 said the directors of the listed company - Tengku Abdul Samad Shah Sultan Salahuddin Abdul Aziz Shah, Datuk Yap Teiong Choon and Datuk Ir Yap Chong Lee - have an interest in Taipan Star.

Tengku Abdul Samad is SHL chairman, while the other two are its executive directors.

SHL has had a 15-year business relationship with Taipan Star, while Menara Taipan is about five years old. The building has 213 parking bays spread over seven basement levels.

The 50 apartment units range between 2,000 sq ft and 5,610 sq ft.

According to the website, Menara Taipan Star is charged to OCBC Bank.

By Business Times

MRCB sees 6-7pc yearly return from Nu Sentral

MALAYSIAN Resources Corp Bhd (MRCB) expects an annual return of 6-7 per cent from its RM1 billion Nu Sentral retail mall at Kuala Lumpur Sentral in Brickfields, Kuala Lumpur.

Chief executive officer Mohamed Razeek Hussain is confident all 270 retail lots will be taken up before its completion in early 2012.

However, he declined to say how much the rental rates for the 1.2 million sq ft mall are.

"We have a lot of enquiries but we are being selective as we want to control the tenant mix. The lease will be reasonable and not as high as Suria KLCC. We expect up to RM70 million in revenue per annum," he said at the Nu Sentral retail launch last Friday.

MRCB has named Parkson department store and Golden Screen Cinemas as its anchor tenants, each taking 138,000 sq ft and 50,000 sq ft of space.

Nu Sentral will undergo both Singapore's BCA Green Mark (compliance) and Malaysia's Green Building Index (certification), making it the first green retail mall in Malaysia.

"The real estate mantra is always location, location, location, which we already have. What we are saying is position, position, position, setting a new standard and experience. We expect the mall to attract a large number of people," Mohamed Razeek said.

The seven-storey mall is part of the RM1.4 billion Lot G integrated development, a 51:49 per cent joint venture between MRCB and Pelaburan Hartanah Bhd (PHB).

The other component at Lot G is a 27-storey office tower with net lettable area of 450,000 sq ft. The building is owned by PHB.

PHB managing director/chief executive officer Kamalul Arifin Othman said the office tower will be leased to a single tenant.

PHB is in talks with a few parties but he declined to name them. MRCB has some RM8 billion worth of on-going projects at KL Sentral.

By Business Times

Gaming, property units to drive MPHB revenue

Multi-Purpose Holdings Bhd (MPHB) expects revenue to hit the RM5 billion mark in the next five years, driven by its gaming and property development business, says its chief.

In fiscal year March 31 2010, MPHB recorded net profit of RM327 million on revenue of RM3.3 billion.

Some 80 per cent of the revenue came from the gaming business via its 51 per cent stake in Magnum Holdings Sdn Bhd. The rest were from property, insurance, stockbroking and investment holding.

Managing director Datuk Lau Kim Khoon @ Surin Upatkoon said its property division has five projects worth over RM10 billion on the table to roll out by next year.

The biggest is the redevelopment project in Makati City in the Philippines. It plans to convert a 22ha horseracing track into an integrated development, featuring commercial, residential and retail space as well as a hotel.

MPHB has a 40 per cent stake in listed Philippine Racing Club Inc that owns the race track, which has been relocated to Manila.

Lau said in an interview with Business Times recently that the project is estimated to worth over RM5 billion.

"We hope to start construction next year. We are bullish on the development and sales as it is located next to the Makati financial district," he said.

At present, MPHB has three projects worth some RM300 million; two residential developments in Penang and one in Pudu, Kuala Lumpur.

By the middle of next year, it targets to launch a RM3 billion project on a 2.4ha site in Kuala Lumpur.

The seven-year project will comprise a one million sq ft retail podium, 50-storey luxury condominiums, a 35-storey four-star hotel and a 30-storey office tower. MPHB will add one more office tower and a residence complex at a later stage.

"We will retain the hotel, retail podium and one commercial block. Property investment will be a growing business for us," Lau said.

The project will be linked to Berjaya Times Square, Sg Wang Plaza, the new international financial district and Pasar Rakyat redevelopment in Imbi.

MPHB has three joint ventures with Bandaraya Development Bhd to undertake medium- to high-end residential projects worth RM1 billion on land its owns in Rawang and Mimaland in Selangor and in Penang.

The companies are discussing details of the joint-venture agreements, Lau said.

By Business Times