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Thursday, November 24, 2011

Developers offer houses that comply with Vasthu

HOUSING developers in the country offer over 70% of ready-built houses which comply with Vasthu Sastra (Indian feng shui) and are auspicious for occupancy, said Sunday Star columnist T. Selva.

He said his survey showed that builders were incorporating geomancy values in their construction and many houses were now built on a rectangular or square plot, which was favourable.

“I believe developers are more aware of buyers’ demands to incorporate ancient sciences of construction like Vasthu and feng shui in their designs,” he said, adding that Vasthu was a 5,000-year-old science which focused on harmonious living.

However, Selva noted that problems arose when property owners made alterations and renovations on the built-up area or land to match their convenience and comfort without taking into account the effects to the environment and the dweller.

“Some extensions are favourable and some are not, depending on which sector of the plot is extended or cut,’’ said Selva, who is the author of the Vasthu Sastra Guide book.

He will present a talk titled “How to choose an auspicious property and using pyramids to attact positive energy” at 2pm on Sunday at The Star Property Fair 2011 at the Kuala Lumpur Convention Centre (KLCC). Admission is free.

The talk is among the highlights of Malaysia’s Premier Fair for stylish living, organised by Star Publications (M) Bhd.

The mega event promises an array of new property launches, irresistible package deals and attractive rebates offered by major developers.

Selva said Vasthu was the equivalent of architecture plus a result-oriented science to ensure harmony.

Sharing insights into Vasthu, Selva said that if the north-east corner of the land was cut, it would be regarded as inauspicious and would affect the family growth and ancestry.

“North-east is given a lot of importance in Vasthu because the cosmic rays hit the earth at the north-east corner of the earth,” he noted.

At the talk on Vasthu, Selva will be giving away mini pyramids to attract subtle positive energy to participants.

The nine pyramids embedded in the micro-pyramid are powerful energy enhancers and those having them will enjoy improved dynamism.

The pyramids, imported from India, will be given away to the first 100 participants attending the talk which will also see Selva explaining the science of pyramid power.

“The pyramid has been known from ancient times as a powerful design that connects to energy forces and its shape is identified with healing qualities,” he said.

He said one of the pyramid’s main functions was to remove or recycle stagnated and negative energy and focus on harmonising energies.

“Pyramids are gaining popularity in homes as means of enhancing energy flow, particularly in homes that are governed by dullness.

For details on the fair, call 03-79671388 ext 1165 or 1168.

By The Star

Pavilion REIT expected to raise RM710m from IPO

KUALA LUMPUR: Pavilion Real Estate Investment Trust (REIT), a shopping mall trust part-owned by Qatar Investment Authority, is raising RM710 million in an initial public offering (IPO), two people with knowledge of the matter said.

The company plans to sell units at 90 sen apiece to institutions and at 88 sen to retail investors, said the people, who asked not to be identified as pricing details are private.

Pavilion REIT had marketed the units at 88 sen to 90 sen.

The IPO will be the Southeast Asian nation's fourth biggest this year, after share sales by Bumi Armada Bhd, UOA Development Bhd and MSM Malaysia Bhd.

Pavilion REIT said earlier this month it is seeking acquisitions within the country and throughout Asia.

Pavilion REIT, which is expected to list next month, owns the Pavilion mall and an adjacent office tower in the capital's Bukit Bintang area.

The mall, with a gross floor area of 2.2 million square feet, has an appraised value of RM3.4 billion as of June 1, according to its prospectus, and houses luxury retailers including Bulgari SpA and Prada SpA.

Qatar Investment Authority will be the single largest owner of Pavilion REIT with a 36 per cent stake, according to its pros-pectus.

The trust aims to start trading in Kuala Lumpur on December 7. Pavilion REIT plans to pay out at least 90 per cent of its distributable income on a half-yearly basis from 2012, it said.

From the listing date to December 31 2012, it will distribute 100 per cent of its income.

CIMB Group Holdings Bhd, Malayan Banking Bhd and Credit Suisse Group AG are among managers of the sale. Bloomberg

Pavilion REIT owns the Pavilion mall that has a gross floor area of 2.2 million sq ft and an appraised value of RM3.4 billion as of June 1.

By Business Times

Pavilion REIT IPO oversubscribed

PETALING JAYA: The retail offering of Pavilion Real Estate Investment Trust’s (REIT) initial public offering (IPO) has been oversubscribed by 7.5 times. Total demand for its institutional book, excluding allocation for cornerstone investors, was oversubscribed by about 28 times.

The price for institutional investors was fixed at 90 sen per unit, while the final retail price is 88 sen. The IPO is expected to raise RM710mil.

En route to a listing on Dec 7, Pavilion REIT is issuing 790 million new shares or 26.3% of its total issued units upon listing. This comprises 755 million shares offered to institutional investors, and the rest came under the retail offering.

By The Star

SAAG in talks on RM600mil Tamil Nadu project

PETALING JAYA: SAAG Consolidated (M) Bhd said it is in the final stages of clinching a contract worth more than RM600mil to build houses in the southern Indian state of Tamil Nadu.

In a filing to Bursa Malaysia yesterday, the group said its India-listed subsidiary SAAG RR Infra Ltd is presently in advanced stage of negotiations with the main licensee of the affordable housing project in India which has the rights for the German technology to build 60,000 solar-powered affordable homes per annum for Tamil Nadu.

“SAAG RR has built seven model homes, financed by the main licensee, which are ready to be handed over by the Chief Minister of Tamil Nadu to the underprivileged shortly,” it said, adding that appropriate announcements would be made if and when the project was awarded to SAAG RR.

SAAG RR would have the rights to manufacture, assemble and sell composite panels for the houses.

The Tamil Nadu government is expected to fund the project and construction works are expected to start by year-end, of which about 180,000 rupees (RM11,112) will be allocated for the construction of each house.

By The Star