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Tuesday, March 22, 2011

1Gateway for Klang folk

Food and beverage heaven: A model of the 1Gateway project.

Klang will have a new food and beverage (F&B) landmark once the 1Gateway project is up.

Covering a sprawling seven hectares, the project in Taman Datuk Abdul Hamid will comprise shoplots and two towers — one to be taken up by hotel chain Novotel while the other will house offices.

Co-developer Legenda Erajuta Sdn Bhd (LESB) said it planned to turn 1Gateway into a food and beverage hub. Besides eateries, it also plans to attract banks and a hypermarket.

Parking will also not be an issue, with more than 3,000 parking bays included in the plans.

“I believe in Klang’s potential. The population is quite dense and the people’s buying power is great,” said LESB managing director Datuk Raymond Chan.

He said the new plans for 1Gateway would be completed in four years, starting from the date LESB receives approval from the relevant authorities.

LESB is a subsidiary of Sagajuta (Sabah) Sdn Bhd, who developed a string of projects in Sabah including 1Borneo, 1Sulaman, Warisan Square and Kingfisher Ujana.

1Gateway was previously known as Intania, which had been abandoned for several years.

Recently, developer Dermaga Suasa Sdn Bhd (DSSB) announced that LESB had agreed to come in as the white knight to save the project.

Phase One of the Intania project, comprising two blocks of shoplots, had already been completed and occupied, while another 16 units of shoplots under Phase 2B were 80% completed when it was abandoned.

Chan promised the buyers of Phase 2B that their units would be delivered within six months.

Buyers of Phase 2A, which comprised two blocks of 500-unit condominiums, would have their investment compensated in accordance with the sale and purchase agreements as the developer had decided against building residential property there.

The gross development value (GDV) of the project is projected to be more than RM400mil, down from the RM600mil when Intania was first launched in 1999.

“The minimum GDV is RM400mil. We are still revising it. It is no less than RM400mil, depending on market demands it could come close to the RM600mil (projected initially),” said Chan.

DSSB project manager Anthony Lee Tee said the project was affected by the economic crisis in 2001 and 2002, and work stopped in 2006 after encountering legal issues with PKA.

“Intania is a privatisation project between Dermaga Suasa Sdn Bhd (DSSB) and Port Klang Authority (PKA), with PKA being the landowner and the project initially awarded to DSSB,” said Lee.

Lee said in December last year, the PKA board “sensibly” decided to break the impasse and allow the project to continue.

By The Star

First phase of residential homes at King’s Cross comes to the market

King’s Cross has announced the launch of ArtHouse, the first phase of private residential homes for sale at the 67 acre site. King’s Cross, the largest development project in central London, will provide over 8 million sq ft (743,200 sqm) of mixed use space, including some 2,000 homes and serviced apartments. The mix of uses, heritage buildings and canal-side setting all add to the extraordinary character of the area.

Prices for the new homes at ArtHouse, designed by award winning architects dRMM, will be announced on Friday, April 15th at an exhibition to be held at the JW Marriot, Kuala Lumpur.

Located between the new Central Saint Martins College of Art and Design – probably the best known art college in the world and part of the University of the Arts London - and Kings Place - home to two concert halls, two galleries and a restaurant, as well as major companies such as Guardian Media Group – ArtHouse offers 114 one, two and three-bedroom private apartments, duplexes and penthouses. ArtHouse is scheduled for completion in 2013.

ArtHouse residents will enjoy panoramic views over London and a prime location, close to the capital’s best transport interchange with the Eurostar at St Pancras International, mainline connections at King’s Cross Station and six tube lines, all within a few minutes walk. King’s Cross, in Zone 1, is also close to numerous leading universities and a variety of the major museums and cultural institutions that make up this world city. ArtHouse is immediately next to the Regent’s Canal, the new Handyside Park and the new fountains of Granary Square.

The building’s sophisticated and striking façade is dressed in terracotta and polished stainless steel, complementing the significant architectural and industrial heritage of its neighbours. Exterior sliding aluminium louvres animate the façade, shading and cooling the interior and enhancing privacy.

Handyside Park runs the full length of the building, extending visually into the lobby through the landscaped courtyards and the glazed ground floor cloisters.

Many apartments at ArtHouse have park, canal or city views from generous balconies and some are dual aspect. The properties are well-insulated, light-filled and intelligently designed with contemporary interiors and bespoke kitchen and bathroom suites by specialist Johnson Naylor. A 24-hour concierge and security service will be onsite and underground parking will be available for purchase. All new homes will be managed by the King’s Cross Estate and Building Management teams.

‘Green’ features have been integrated into the design of ArtHouse from the beginning in order to achieve a target of Code for Sustainable Homes Level 4. All of the building’s hot water comes from the super-efficient King’s Cross Energy Centre which offsets around 75% of the whole development’s electricity needs.

King’s Cross, already Europe’s most connected location, is on its way to becoming the new cultural centre of London. New restaurants, shops, markets, health and fitness facilities, music venues, cinemas, hotels, a school and the new home of Central Saint Martins, will make King’s Cross the most exciting centre of any western capital city. N1C is the new post code covering the 67 acre King’s Cross development and St Pancras International - the “C” representing its Central London location.

The opportunity for both investors and home buyers is unique – stunning brand new one, twoand three bedroom homes with a host of cultural, commercial and leisure facilities on the doorstep, will be available from April 2011 onwards.

For more information on opportunities to invest at King’s Cross, contact Knight Frank: 03-22899666

By The Star

BJLand 3Q net profit rises to RM34.9m

KUALA LUMPUR: BERJAYA LAND BHD posted net profit RM34.91 million for its third quarter ended Jan 31, 2011 compared to net loss RM8.57 million a year earlier, due mainly to higher profit contribution from the gaming business operated under BERJAYA SPORTS TOTO BHD (BToto).

Revenue for the quarter declined to RM990.59 million from RM993.96 million last year. Earnings per share improved to 0.70 sen from loss per share of 0.17 sen, while net assets per share was RM1.04.

For the nine months ended Jan 31, BJLand’s net profit jumped to RM85.13 million from RM35.42 million, on the back of revenue RM2.99 billion.

Reviewing its performance, BJLand said its property development and investment business also reported higher profit contribution from the property sales registered in the current quarter under review.

The group also reported higher dividend income from its quoted investments, it said.

“In the preceding year corresponding quarter, the group incurred impairment in value of certain investment in associated companies and quoted investments,’ it said on Tuesday, March 22.

BJLand said the higher net profit for the nine-month period was due mainly to the exceptional gain arising from the disposal of an associated company amounting to RM53.2 million; higher property sales from property development business; higher dividend income received from certain quoted investments of the group; and higher share of profit from associated companies as well as lower share of losses from jointly controlled entities.

The company said its performance for the remaining quarter of the financial year ending April 30, 2011 would remain satisfactory.

By The EDGE Malaysia

Shop for your home at four-day expo

House owners looking at renovating or refurbishing their homes can mark March 31 till April 3 on their calendars for the Perfect Livin’ 11 exhibition.

Organised by CNM Events Marketing Sdn Bhd, the exhibition is back for the fifth time to offer a one-stop platform for home and lifestyle needs at PWTC in Kuala Lumpur.

Besides the 300 exhibitors at the 10 specific zones, a new addition to the exhibition — the Hall of Elegance — will be presenting premium products and services from eight selected exhibitors at Tun Hussein Onn Hall on Level 2.

The exclusive exhibitors include Kollektion Distribution, Sleep Suite, Alfo Designs, Beyond Arena, Bagus Curtain, AZ Klang Home Decor, Milanohause and Luzzone Gallery.

To enhance the shopping experience at the Hall of Elegance, there will be music performances at the VIP lounge.

Meanwhile, CNM Events Marketing CEO Adriana Law said every shopper who spends RM1,000 and above at Perfect Livin’ 11 would be rewarded.

For instance, those who purchase products and services worth RM3,000 and more would take home a 20cm stainless steel stew pot with glass lid or a set of five stainless steel knives.

“Besides, we are also offering RM30,000 for lucky shoppers. Those who spend RM1,000 and above are in the running to win either RM15,000, RM10,000 or RM5,000,” she said.

There will also be a Purchase & Win contest for shoppers who spend RM100 and above, and colouring contests for children aged 12 and below.

Cooking demonstrations and talks on feng shui (by master Yap Cheng Hai) and interior designing would be held on April 2 and 3.

Law was confident that the low prices and discounts would not disappoint the visitors.

“We are the biggest home and lifestyle exhibition with more than 950 booths. Last year, we attracted about 130,000 visitors and we hope to see a 10% increase this year,” Law said.

For details, call 03-8075 7375 or visit

By The Star