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Tuesday, January 10, 2012

UEM Land plans to launch RM5.5bil worth of properties

KUALA LUMPUR: UEM Land Holding Bhd, which plans to launch RM5.5 billion worth of properties, aims to record sales of RM3 billion this year.

Managing Director/Chief Executive Officer Datuk Wan Abdullah Wan Ibrahim said the properties were located in Johor, Kuala Lumpur Central Business District, Mont Kiara and Bangi.

UEM Land achieved sales of RM2 billion last year, he told reporters here today after the company inked a joint venture agreement with Medini Securities Services Sdn Bhd to enhance security features in Nusajaya.

Datuk Wan Abdullah Wan Ibrahim

Since the mid-90s, 11,000 units of residential properties were sold in Nusajaya by UEM Land and other developers.

"The company alone sold 3,500 units since 2006.

"We expect the demand structure to continue this year," Wan Abdullah said, adding that the take up rate stood at 85 per cent, currently.

On the joint-venture, he said the company has collaborated to form a full-fledged security service company with Medini Security to provide enhanced security for Nusajaya.

Eight million ringgit has been budgeted this year to implement this initiative as part of the Nusajaya Security Blueprint, he added.

"We are looking into areas of improvement such as the expansion of our CCTV coverage in the vicinity to further add value to the current security features," he said.

By 2015, the joint venture company is expected to have an estimated 160 auxiliary police officers who will be deployed in critical areas.

UEM Land, is the master developer of Nusajaya, the key driver of Iskandar Malaysia, Johor.

By Bernama

Trinity delivers quality and style ahead of schedule

Minister of Housing and Local Government Datuk Seri Chor Chee Heung (left) inaugurating the official key handover ceremony of The Zest Serviced Apartment @ Kinrara 9 and opening of Trinity’s RM7mil access ramp at Bandar Kinrara.

The Trinity Group team shifted into high gear as 2011 drew to a close - and delivered a full schedule ahead of time for the much-awaited launch of The Zest Serviced Apartment @ Kinrara 9. Dreamed up to be the next prime address in Bandar Kinrara 9 offering an integrated location for family, work, business, leisure, and entertainment – The Zest @ Kinrara 9 became an anticipated reality at the official Key Handover Ceremony yesterday.

The company is right ahead of target with the completion of an integrated development that consisted of 20 units of shop offices, 24 units of retail outlets and 720 units of serviced apartments in the Bandar Kinrara 9 township development – with infusions of modern and contemporary architectural design.

"The launch of The Zest @ Kinrara 9 marks our foray as a serious contender and comprehensive player offering a gamut of services in the real estate industry,” says Trinity Group managing director Datuk Neoh Soo Keat.

Trinity Group’s long-standing commitment towards “building communities and enriching lives” is strongly reflected in its developer journey as it grew from strength to strength with each project. Its credo echoes the Malaysian government’s dedication towards ensuring quality and affordable housing to meet the needs of Malaysia’s growing population by matching demand and supply as well as providing efficient public utilities and services as well as a clean and livable environment.

Datuk Neoh adds that Trinity Group wishes to redefine property development by bringing landmark projects that incorporate the best design, quality, technology and timely delivery. “As a forward thinking and customer-driven developer, we will ensure that all our new products offerings will set new benchmarks in terms of quality and value creation for our customers while remaining true to our aim of pursuing business activities in an ecologically-friendly manner.”

Minister of Housing and Local Government Datuk Seri Chor Chee Heung, present to officiate The Zest Point’s Key Handover Ceremony comments that it is imperative for the Government and private sector to work together in order to create a competitive and sustainable housing industry.

“The partnership will benefit the homeowners as well as housing developers. I am pleased to see Trinity Group taking a leadership role in raising the industry bar for private developers and employing the six thrusts in the National Housing Policy (NHP) as its guiding principle to achieving conducive and liveable environments and shared community infrastructure and foundation,” Datuk Seri Chor adds.

Being a resident or business owner in one of the units at The Zest Point means all-year access to amenities. Trinity Group doesn’t take community enhancement lightly; its service-focused vision spanning beyond property development is attested by its series of community projects e.g. a RM7mil access ramp, a RM3mil access road for The Z, and Malaysia’s first air-conditioned bus stop.

The RM7mil access ramp at The Zest @ Kinrara 9 intersecting with the Lebuhraya Bukit Jalil is officially open for the convenience of road users and public

The ramp, linking the opposite side of the road and The Zest @ Kinrara 9 with the Bukit Jalil Expressway to lessen traffic congestion and commuting time, is launched for public usage today by Datuk Seri Chor Chee Heung. Community development, to Trinity Group, is an on-going pursue. “We do not – and will not stop here. In the near future, we will undertake more development and community projects that are aimed to improve and enrich people’s lives”, exclaims by Datuk Neoh. “We are dedicated to provide the best to our customers with better living experiences.”

By The Star

Trinity plans RM640m projects

KUALA LUMPUR: Trinity Group Sdn Bhd, a property developer, plans to launch at least four new projects, with a gross development value (GDV) of RM640 million in Kuala Lumpur and Selangor, over the next two years.

Trinity Group founder and managing director Datuk Neoh Soo Keat said the four potential new projects will be in Serdang, USJ (Subang Jaya), Ampang and Taman Melawati.

"We have adequate landbanks for these projects and are acquiring more land. We are now awaiting for approvals from the relevant authorities.

"We expect to launch the first of these four in Serdang in March this year. It will be a mixed commercial and residential development," he told reporters after the official handing over of keys to buyers of Trinity Group's the Zest serviced apartments in Bandar Kinrara near here yesterday.

Housing and Local Government Minister Datuk Seri Chor Chee Heung officially handed over the keys to the buyers and launched the RM7 million access ramp to The Zest @ Kinrara 9, a 720-unit serviced apartment project, with a GDV of RM260 million.

Neoh said the company is currently undertaking two projects, namely the Latitude in USJ and Z Residence in Bukit Jalil.

"The Latitude is a 15-unit semi-detached factory development, with a GDV of RM70 million and The Z Residence, a condominium project comprising 1,136 units in four blocks, with GDV of RM550 million.

"We expect to complete the Latitude early next year, while the Z Residence will be ready by July 2014," he said.

Going forward, Neoh said the company plans to expand its property development business overseas, mainly in Asia.

"It's still in the preliminary stage. We have to conduct a study and do research for at least two years to three years before we can start venturing abroad," he said.

On the Zest serviced apartments, Neoh said the company took pride in the development as it was com-pleted three months ahead of schedule.

"The project was launched in April 2009 and was supposed to be completed within 36 months - on April 2012. But we managed to complete it earlier and received the certificate of fitness in December last year," he said, adding each unit was priced between RM250,000 and RM350,000.

For the convenience of the residents and owners, Neoh said the company has constructed Malaysia's first air-conditioned bus stop at The Zest, apart from the access ramp and will invest in a RM3 million access road for The Z Residence.

By Business Times (by Kamarul Yunus)

SP Setia's RM500m bond rating reaffirmed

Malaysia’s RAM Ratings has reaffirmed the AA3 rating of SP Setia Bhd’s RM500 million nominal value of two percent redeemable serial bonds with 168 million detachable warrants (2007/2012).

The long-term rating has a stable outlook, says the rating agency.

The outstanding amount of the bonds stood at RM250 million presently.

The rating reflects S P Setia’s strong business profile as a prominent property developer in Malaysia. S P Setia boasts strong diversification in terms of product range and geographical presence.

The group has a proven ability to offer a wide array of properties with different price tags to cater to different segments of the market, with most of its offerings achieving full take-ups within 1-2 years.

“SP Setia’s strong branding and product innovation underscore its robust revenue generation capability. We believe these factors, guided by the group’s capable management team will continue to fuel its operating performance,” says Shahina Azura Halip, RAM Ratings’ Head of Real Estate and Construction Ratings.

The group’s record level of unbilled sales of RM2.83 billion as at end-October 2011 should ensure some earnings stability over the next few years.

By Business Times