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Wednesday, May 30, 2012

Reasonably priced homes

The second phase of the Garden Heights residential development is located within Bandar Tasik Puteri (BTP) township in Rawang.

Indah Jaya Development Sdn Bhd, a subsidiary of Low Yat Group, will soon unveil the second phase of its Garden Heights residential development, in Rawang within the 2,670-acre (1,080ha), Bandar Tasik Puteri (BTP) township.

It comprises 123 units of valuefor- money double-storey terrace houses with a land area of 18ft by 75ft with a built-up area of 148.64sqm (1,600sq ft).

This guarded community known as BTP 4, spans an expansive 6.61 acres (2.68ha). The houses have four bedrooms and three bathrooms each.

Its proximity to the KL-Kuala Selangor Expressway (Latar Expressway) is poised to give the over 50,000 (BTP) residents valueadded benefit as a link road will be built to shorten the distance to the Kuala Lumpur city centre.

Indah Jaya Development marketing and business development senior manager Joseph Chia said currently BTP residents take about 30 minutes to get to KL via the North South Expressway, Latar Expressway and Guthrie Expressway.

“The Latar Expressway already exists, therefore we foresee that a link road in the future will provide greater convenience to residents and boost market appreciation,” he said, adding that Garden Heights Phase 2 is expected to be completed in 2014.

As landed properties are becoming few and far between, city dwellers have found comfort in suburban areas that are still within reach via carefully planned expressways.

The increasing demand for landed property continues to surge, especially for first-time homebuyers and families looking for a lifestyle upgrade.

Garden Heights Phase 2 homes comprise 123 units of value-for-money double-storey terrace houses.

Garden Heights Phase 2 is perfect for city dwellers who want to escape from the hustle and bustle of the city, and yet want a landed property within serene and natural surroundings. The cost of the two-storey terraces which are affordably priced ranges between RM290,000 and RM478,000. It offers long-term value for homebuyers and boasts spacious, modern designs with a 24ft (7.3m) driveway to fit two cars.

Aside from that, the renowned Bandar Tasik Puteri Golf & Country Club, neighbouring industrial facilities and the relatively new Aeon Anggun Rawang Shopping Centre which is 10 minutes away, adds to the market appreciation in BTP.

Future phases have been earmarked to comprise double-storey link houses, semi-detached, cluster homes and bungalows boasting modern architecture, in a safe environment within a 24-hour guarded community.

Bookings for Garden Heights Phase 2 started on May 26 with a fee of RM1,000. Prospective buyers will also enjoy early bird discounts, no legal fees for loan and Sales & Purchase Agreement (SPA) and Developer Interest Bearing Scheme (DIBS).

Low Yat Group is a well-diversified developer and investment group in Malaysia. The group, which was initially involved in private and government construction projects, has now diversified into trading, manufacturing, plantation, hotel and tourism industries in Malaysia, Japan, Australia, China and Indonesia.

For details or enquiries, e-mail Call 03-6034 5390 / 016-213 9311 or visit my

By The Star

IJM Land unveils RM11b township development

From left to right: SME TM executive vice president Azizi A Hadi, TM Selangor vice president Datuk Zaini Maatan, IJM Land Berhad chief executive officer and managing director Datuk Soam Heng Choon and Canal City Construction Sdn Bhd chief operating officer Shuy Eng Leong exchanging documents after the service agreement signing with Telekom Malaysia Berhad (TM) for high speed broadband in Bandar Rimbayu.

PETALING JAYA: IJM Land Bhd has unveiled its newest development the RM11bil Bandar Rimbayu township development which focuses on sustainable lifestyles and strong connectivity elements.

Bandar Rimbayu is a mixed-township spread over 1,879 acres close to Kota Kemuning.

“The Bandar Rimbayu township reflects IJM Land's vision of what townships of the future would look like. The green township concept is in response to the demand from residents of the future who are becoming increasingly concerned about giving back to the earth. Also, homeowners of the future do not just want a house, they want a residence complete with a holistic lifestyle, thus we are offering a carefully planned and designed township that emphasises better quality of life,” said IJM Land managing director and chief executive officer Datuk Soam Heng Choon.

In addition to green living, Soam said the connectivity was also very important for Bandar Rimbayu.

“This connectivity covers the physical where we make it convenient for residents to move around within the township and also beyond,” he said.

In conjunction with the launch of the project, IJM Land has signed a service agreement with Telekom Malaysia Bhd (TM) for the provision of high speed broadband (HSBB) infrastructure in Bandar Rimbayu.

“With the collaboration, we will be offering TM's HSBB service, UniFi, to residents of our first phase free of charge for one year,” he said.

Datuk Soam Heng Choon (left) and Shuy Eng Leong presenting the scale model of the Bandar Rimbayu township at the media preview.

Bandar Rimbayu's identity as a green township is further expressed via sustainable use of natural resources and environmental consciousness. Most notably, there will be more than 50,000 trees, palms, shrubs, flowering plants, aquatic plants, herbs and climbers around The Arc and Sales Gallery.

Divided into four precincts, Bandar Rimbayu consists of Flora, a mixed residential area, Fauna, a mixed residential area with amenities including shops and a school, Bayu, a 280-acre high-end waterfront residential development by the lakeside; and the commercial hub, which include a canal, town square and service apartments.

Bandar Rimbayu is targeted for completion within 15 years and will boast about 10,000 residential units. The launch of its maiden product The Chimes, consisting of 526 units of link homes, is targeted for the second half of this year.

By The Star

IJM unveils RM11b project

KUALA LUMPUR: IJM Land Bhd has introduced its newest property development, called Bandar Rimbayu, which has an estimated gross development value of RM11 billion.

Bandar Rimbayu is a mixed township project that spread over 761ha across Kota Kemuning in Shah Alam, Selangor.

"Designed with an emphasis on sustainable lifestyles for residents with strong connectivity elements, Bandar Rimbayu reflects IJM Land's vision of what townships of the future will look like.

"The green township concept is our response to the demand from residents who are becoming increasingly concerned about giving back to the earth," said IJM Land's managing director and chief executive Datuk Soam Heng Choon in a statement.

In conjunction with the launch of the development project, IJM Land also signed a service agreement with Telekom Malaysia Bhd (TM) for the provision of high-speed broadband (HSBB) infrastructure at Bandar Rimbayu.

"This service agreement with TM, Malaysia's No. 1 broadband provider, signifies our commitment in providing fibre (connection) to home facility... we will be offering TM's HSBB service, UniFi, to residents of our first phase free of charge for one year," Soam said.

The Bandar Rimbayu township is targeted for full completion within 15 years and will boast about 10,000 residential units in total.

The launch of its maiden product, The Chimes, is targeted for the second half of 2012.

By Business Times (by June Ramlee)

Sara-Timur in joint venture to build RM600mil project

KOTA BARU: Kuala Lumpur-based Sara-Timur Sdn Bhd will be developing the RM600mil Kota Baru Sentral@Tunjung on 40 acres in a joint venture with Tunjung Development Corp and Perbadanan Mentri Besar Kelantan.

It took Sara-Timur several years of planning to fully exploit the potential of the site so that investors can make the best from the new urban development. — PROFESSOR EMERITUS M ZAWAWI ISMAIL

Sara-Timur chairman Prof Emeritus Datuk M Zawawi Ismail said the project, which would be launched after Hari Raya in August, would incorporate elements of a modern lifestyle urban intelligent city.

The project includes a village shopping mall, convention and function mall, leisure center, cineplex, boutique hotels, service apartments, office suites, a library and housing residences located in Bandar Baru Tunjung.

Zawawi told reporters after witnessing the launch of the Rehda Exhebition here yesterday that the project would incorporate green technologies and attract investors from Kelantan as well as other states. It would be tailored to sustain economic growth.

“It took Sara-Timur several years of careful planning to fully exploit the potential of the site so that investors can make the best from the new urban development,” he said.

Zawawi also said Bandar Baru Tunjung has been selected as a new city to match the pace of Kota Baru town while the area would change over the next five years as environmentally-friendly features were incorporated.

Meanwhile, Sara-Timur founder and managing director John Loi Hieng Yee said in a statement that the company chose to support the new development because of the incredible impact it would make on the lives of families and the community.

He said the project provided attractive investment opportunities with the local government drawing private capital via a new strategy for urban redevelopment.

Sara-Timur was founded in 1995 in Kuching but relocated to Kuala Lumpur. Its projects include Sutera Harbour Resort and Sandakan Habour Square in Sabah, Kuala Lumpur City Centre, Sarawak State Stadium.

By The Star

SP Setia wants half of group revenue to come from overseas projects

KUALA LUMPUR: SP Setia Bhd is aiming for half of its revenue to come from overseas projects in five years.

“We want to be an international property player, not just a regional property player,” president and chief executive officer Tan Sri Liew Kee Sin said on the sidelines of Invest Malaysia 2012 conference.

Liew said property developments in Melbourne, Australia, and Singapore were expected to contribute RM700mil to the group's target of RM4bil in new property sales for its financial year ending Oct 31 (FY12).

SP Setia's Malaysian projects are expected to contribute about RM3bil to the FY12 sales target while its projects in Vietnam EcoLakes and EcoXuan are also expected to do well.

Liew told StarBiz that the group's Fulton Lane apartment development in Melbourne had achieved RM400mil sales since its launch last November, while its maiden project in Singapore, 18 Woodsville, had a 90% take-up rate since its launch in late April.

“About 75% of our sales in Melbourne are to Malaysians. More than half of the RM250mil sales in Singapore are to Malaysians. This is part of our two-pronged strategy, where we tap on the Malaysian demand for property in mature overseas markets,” he said.

Liew said that for the next two years, the bulk of SP Setia's overseas sales would come from Melbourne and Singapore. “Hopefully we can also launch Chestnut Avenue, our other project in Singapore, in three to six months time.”

He said the group's strategy also consist of capitalising on its township development expertise in countries with sizeable populations such as Vietnam, China and “hopefully, Indonesia in the future.”

“When we go overseas, we become a much better developer. I am thankful. We learn so many things ... design concepts, practises and new ideas,” he said.

He said the group's remaining land bank of 4,319 acres (of which 88% is in Malaysia) should last for 10 to 15 years.

SP Setia Bhd and Rimbunan Hijau Group are also in a joint venture with Qinzhou Jingu Investment Co Ltd to develop the Qinzhou Industrial Park (QIP), starting with the RM2.6bil start-up district of QIP.

SP Setia will have an effective stake of 22.05% in the China joint-venture company to be formed.

“For the QIP, we are in the midst of doing an audit (of land and infrastructure costs). We expect to finish this in the next three months. There will be revenue contribution from QIP in perhaps two years.”

Liew also confirmed that SP Setia was one of the three bidders on an informal shortlist for the Battersea Power Station site in London.

“We will give our traditional best shot. Hopefully, in the next two or three weeks, we will know the results. But even if we lose, we will continue to invest in the United Kingdom.”

On the group's flagship Bandar Setia Alam in Shah Alam, Liew said about half of the 4,000-acre township remained to be developed.

“We will launch apartments in Bandar Setia Alam soon. Our convention hall in Setia City Mall will be ready at the end of this year.”

Liew said Setia City Mall, which was recently opened, had been a successful venture with about 50,000 visitors a day.

“We do have plans for other malls in the future, subject to location,” he said.

By The Star

SP Setia: Foreign ops to play a key role

SP SETIA Bhd, the country's largest property developer, expects half of its sales to come from overseas projects in five years as it becomes an international property developer.

The company anticipates overseas projects to contribute less than afifth to its total sales for the current fiscal year.

"We are on track to hit our RM4 billion sales mark by end of our 2012 financial year. From the amount, RM700 million will come from overseas operations," said SP Setia president and chief executive officer Tan Sri Liew Kee Sin on the sidelines of Invest Malaysia 2012 yesterday.

"In five years, we expect 50:50 contribution from our local and overseas property projects. There's only so much growth you can generate from Malaysia. In order to expand the business further, we have no choice but to expand to the overseas market."

Liew also confirmed that the company is one of the three shortlisted firms for the Battersea Power Station site in London.

"That's all we know for now. If we secure the project, we will be very happy. But if we do not, we would not be going home empty pocket, as we have learnt so much along the way," he said.

Among the things the company "learnt" in its journey to be an international player include placing the importance of greenery in a property and the significance of maintaining an iconic structure.

SP Setia, which currently has over 1,720ha of landbank, said it is enough to keep the company busy for the next 10 to 15 years. About 88 per cent of the land is located in Malaysia.

By Business Times

Gromutual’s project to gain from new JB transport hub

JOHOR BARU: Gromutual Bhd expects its first high-rise project to benefit immensely from the upcoming integrated transportation hub in Iskandar Malaysia.

Executive director Teo Yu Hong said the project's site along Jalan Kempas Lama just a few metres away from Kempas Baru would be its strong selling point.

Teo: Gromutual will launch the project either in early or mid-2013.

Kempas Baru station in Johor Baru would be developed into an integrated transportation hub in Iskandar Malaysia. To be known as Kempas Sentral, it is expected to be several times bigger than KL Sentral station.

Kempas Sentral will have an integrated transportation system encompassing commuter trains interconnected with the rail network at KTM Kempas Baru station, feeder bus and taxi services.

“Initially, we wanted to offer studio units but changed it to two-room and three-room apartments as demand for such properties is good in Johor Baru,'' Teo told StarBiz after Gromutual's AGM.

Teo said Malaysians were still not used to studio apartment living unlike those in world's big cities such as New York, Paris, London, Tokyo and Singapore.

He said the company would launch the project either in early or mid-2013 with an indicative selling price between RM400 and RM450 per sq ft.

Teo said phase one on a 1.41ha site would comprise 21-storey and 26-storey tower blocks with 460 units of two and three-room apartments. The units will have built-up areas of between 800 sq ft and 1,500 sq ft.

Phase one, with a gross development value of RM150mil, will take three years to complete. It will be followed by phase two on a 2.02ha site.

“We are targeting Malaysian professionals working in Singapore and young families as buyers for our project,'' he added.

Meanwhile, Teo said Gromutual would look for more land in Malacca for its future residential property projects as prices of land in Malacca was much lower compared with in Johor.

He said the company was also seeking land in Kuala Terengganu and Ipoh as these two areas offered long-term growth prospects.

For the financial year ended Dec 31, 2011, Gromutual recorded RM21.40mil net profit on RM96mil revenue against RM11.49mil net profit on RM71.70mil revenue in the previous year.

By The Star