Malaysia Property News is a free resource website sharing Daily Property News & information about Property in Malaysia, which related to, Property Market, Property Investment, Commercial Property , Hot Properties Malaysia, Real Estate, Retail Shop, Business Park, Condominium Malaysia, Terraces & Apartment Malaysia, Houses, Residence, Resort and many more.

Monday, October 25, 2010

Environmental preservation wins top marks

KUALA LUMPUR: Since organising the inaugural Malaysia Property Award (MPA) in 1992, the International Real Estate Federation (FIABCI) has been striving to raise the standard of the local property sector through this annual event.

Tougher qualifying rules and transparent judging processes over the years have ensured that many local property players keep with the times and also on par with the world’s top class developers.

Yeow ... ‘MPA award has set benchmark on how today’s local developers embark on their projects.’

The awards, which is today considered the “Oscars” of the local property industry, had set the benchmark on how today’s local developers embarked on their projects, said FIABCI-Malaysia president Yeow Thit Sang.

“Local developers know the kind of awareness winning this award brings. Many of them are tailoring their designs to these (FIABCI) standards. They look at our guidelines on how to improve their projects.”

Over the years, FIABCI Malaysia has placed increasing emphasis on environmental awareness and preservation. Initially, the impact of a development on the environment used to account for 10% of the judging criteria for the MPA. This year, it’s 25%.

“Environmental awareness is a global concern and it’s everyone’s responsibility to ensure everything they do has a minimal impact (on the environment),” said Yeow.

He said many local developers today were cautious with the way their projects impacted the surrounding landscape.

Yeow cited Mulpha International Bhd’s Pinggiran Bayou Village Homes, the winner in the best residential development (low-rise) category at the 2007 MPA.

He said prior to construction, the company took great pains to ensure minimal impact on the surrounding ecosystem.

Apart from preserving the environment, Yeow said many developers also designed their projects so that the surrounding elements actually became the highlight of the projects.

“Today, houses built are no longer just boxes on pieces of land. They’re a lifestyle masterpiece.”

Yu ... ‘Environmental awareness will account for more than 25% of the judging criteria at next year’s MPA.’

FIABCI Asia Pacific executive director Yu Kee Su said environmental awareness would account for more than 25% of the judging criteria at next year’s MPA.

For the first time this year, the judging process comprised a three-tier system as part of the organiser’s efforts to raise the bar of the participants, he said. In previous years, the judging process comprised only two levels.

“We evaluate the judging process every year. We get feedback and try to improve ourselves,” he said.

The first tier consists of site visits by evaluators who are senior personnel from the real estate industry. The second tier comprises a jury of senior representatives from various organisations within the property industry while the third tier comprises independent judges from various sectors.

FIABCI Malaysia will be organising the 2010 MPA on Nov 11 in Kuala Lumpur with Malayan Banking Bhd as the official sponsor.

The categories to be contested are: Property Man of The Year, Master Plan, Hotel Development, Office Development, Public Sector, Residential Development (low rise and high rise), Resort Development, Retail Development and Special Award for National Contribution.

Winners of the MPA in their relevant categories will represent Malaysia the following year at the International Prix d’Excellence, an annual competition that honours the world’s best property projects.

By The Star

EPF to call for open bid in 2011

The Employees Provident Fund (EPF) is expected to call for an open tender to develop the 1,214ha of federal land in Sungai Buloh, Selangor, in the second half of next year.

It is learnt that the EPF has initiated a master plan for the land development, which is expected to take six months to a year to complete.

The land, dubbed the "new hub" for the Klang Valley and owned by the Rubber Board of Malaysia, will be split into several parcels to attract local and foreign private property companies.

"The land will not be offered to just one developer. We will be fair and offer land parcels to several companies through an open tender system," a government source said.

Speculation was rife that the EPF would likely appoint Malaysian Resources Corp Bhd (MRCB) as the project's master planner and lead developer since it owns 41.5 per cent of the company.

However, the pension fund said that Kwasa Land Sdn Bhd - its joint venture with the government - would tender individual parcels of land through a transparent process.

The EPF also said that it had requested several developers and property consultants to advise it on the development and feasibility of the land.

The project is expected to have affordable and high-end housing - both landed and high-rise - office towers, shop-offices, retail, hospital, shopping mall, hypermarket, schools and parks.

Prime Minister Datuk Seri Najib Razak has said that the whole project would generate gross development value of RM10 billion.

Some potential participating developers said they would leave it to the EPF to decide how much land to allocate to them and the components to build.

Among them are Glomac Bhd, Gadang Holdings Bhd, IJM Land Bhd, Mah Sing Group Bhd, UEM Land Bhd, Bolton Bhd and MRCB.

A source said the companies could buy small parcels of land to carry out their own projects or develop the land in a joint venture with the EPF on a profit-sharing basis.

"We believe that EPF is likely to parcel out to various developers so that each can introduce new concepts. This will expedite the development as several parcels will be developed concurrently," Mah Sing group chief executive officer Tan Sri Leong Hoy Kum told Business Times.

The project, approved on May 12, will be funded by the EPF over 15 years.

It is understood that the project site will be connected to the Kelana Jaya light rail transit.

By Business Times

Glomac unit buys 18 Suria Stonor apartments for RM38.41m

KUALA LUMPUR: GLOMAC BHD is acquiring 18 units of apartments at the Suria Stonor Condominium project, which was developed by its unit Glomac Regal Sdn Bhd in July 2008, for RM38.41 million.

In a filing to Bursa Malaysia on Monday, Oct 25, Glomac said its wholly-owned subsidiary Berapit Pertiwi Sdn Bhd had entered into sale and purchase agreements with Dekad Darat Sdn Bhd and Progressive Berg Sdn Bhd for the proposed acquisition.

It said the acquisition of the apartment units represented an excellent investment opportunity with strong potential for quick turnaround.

"As the transaction is a bulk purchase, the acquisition is priced at a approximate discount of 35% to the last transacted price of RM1,000 per sq ft for comparable properties at Suria Stonor.

"As the developer of the project, Glomac is familiar with the product and believes strongly in the saleability of the condominiums in the secondary market at prevailing market prices," it said.

By The EDGE Malaysia

SP Setia upgraded to 'buy' at Kenanga

SP Setia Bhd, Malaysia’s largest property developer, had its stock rating upgraded at Kenanga Investment Bank Bhd to reflect the company’s earnings growth prospects.

The company was raised to “buy” from “trading buy” and its fair value increased to RM5.50 from RM4.78, Yeow Yeonzon, an analyst, said in a report today.

By Bloomberg