AP Land confident of sales for myHabitat’s Tower II

KUALA LUMPUR: Asia Pacific Land Bhd (AP Land) is confident all 215 units in Tower II of its myHabitat serviced residences development here will be taken up within a year of its launch by year-end.

Executive director Hoi Siew Choo said foreigners were expected to comprise at least 50% of the buyers for the 38-storey Tower II.

“The strategic location, better yield, tight security and the affordable pricing are the main factors that will attract investors and buyers,” she said at a media briefing yesterday.

Located at Jalan Aman next to Empire Tower, Crown Princes Hotel and City Square Centre, the 1.5-acre myHabitat development comprises two tower blocks and has a gross development value (GDV) of RM330mil.

AP Land launched Tower I in late 2004 and had to date sold 86% of the 168 units, Hoi said, adding that half of the buyers were foreigners, mainly from Singapore, South Korea and Hong Kong.

Tower II offered units ranging from 600 to 1,100 sq ft and were priced between RM1,000 and RM1,300 per sq ft, she added.

“We are targeting the corporate individual who wants to stay in the city, closer to the work place.”

She added that the bigger units like penthouses would attract the more discerning buyers.

Currently, development of myHabitat is 40% complete. The entire project will be finished by second half of 2009.

LBS Bina buys into mixed development project in Sepang

By THE EDGE

KUALA LUMPUR: Property developer LBS Bina Group Bhd is acquiring a RM2 company, Misi Aktif Sdn Bhd, which is undertaking a mixed development project on a 21.72ha parcel of land in Sepang, from two individuals for RM7 million.

LBS Bina said yesterday the consideration would be settled via internal funds of RM3 million and the balance via the offset against properties to be determined and mutually agreed upon.

It said the acquisition would enable it to increase its landbank for development in the central region and to generate future revenue. LBS said the consideration took into consideration the discounted cash flow from the future potential earnings from the project.

Its subsidiary LBS Bina Holdings Sdn Bhd yesterday signed a sale of shares agreement with Tan Wei Eng and Tan Sock Chin to acquire the two ordinary shares in Misi Aktif.

Atrium REIT buys property

KUALA LUMPUR: Atrium Real Estate Investment Trust (REIT) has acquired an industrial building at Senai Industrial Park, Johor for RM12.5mil from Yong Jin Development Sdn Bhd.

In a filing with Bursa Malaysia, Atrium REIT said the property would be leased to Flextronics Technology (Malaysia) Sdn Bhd for five years. The tenancy which expires at the end of 2011 has the option for further five years. It said the rental income would provide Atrium REIT with an annual gross yield of about 9.6%.

The acquisition comprises 2.8 ha leasehold land expiring in 2054 and housing an electronic factory with a net lettable area of 125,173 sq ft.

Axis REIT purchase of building brings it closer to asset target

By The Star

PETALING JAYA: Axis REIT Managers Bhd's proposed acquisition of a five-storey building for RM37mil will boost its asset size to RM618mil, bringing it closer to its target size of RM800mil by year's end, Aseambankers Malaysia Bhd said.

In an announcement on Friday, Axis REIT proposed the buy of its 16th property, an office and factory in Petaling Jaya, from Wah Seong Industrial Holdings Sdn Bhd.

“The acquisition price appears fair at RM353 per sq ft with rising capital values,” said Aseambankers analyst C.T. Ong in a report. “The price compares well with recent office property transactions in the vicinity, like Nestle House at RM375 per sq ft and Menara Merais at RM358 per sq ft.”

The acquisition was expected to record a net property income of about RM2.6mil a year, or a net property yield of about 7%, he said, noting that it would increase Axis REIT's net profit by 3.3% for the financial year ending Dec 31, 2008.

The acquisition, expected to be completed by February next year, was anticipated to generate income of some RM960,000 a year for the trust, Ong said.

In March, Kompakar CRC Sdn Bhd, which occupied the five-storey building for the past nine years, agreed to renew its tenancy agreement for three more years, beginning Nov 23, for a monthly rental of RM270,000 (at RM2.55 per sq ft). It also has an option to renew for a further three years at a compounded rate of 4.4% per annum, according to Aseambankers.

Axis REIT's gearing is likely to hit 40%-43% by year's end owing to the acquisition of the leasehold property, with an approximate lettable area of 104,903 sq ft and an estimate gross rental value of RM3.2mil a year.

Aseambankers has maintained a “buy” call on the counter as it is expected to strike a target price of RM2.40, based on a discounted cashflow analysis, up 51 sen from its current price of RM1.89.

Daiman lines up more launches in Kota Tinggi

By The Star

PETALING JAYA: Daiman Development Bhd plans to launch 60 more shophouses and 120 single-storey houses in Kota Tinggi by the financial year ending June 30, 2008 (FY08).

In an e-mail reply to StarBiz, the company said that 43 double-storey homes were launched in Kota Tinggi earlier this year.

The developer posted stronger results for its fourth quarter ended June 30 with net profit improving to RM29.8mil compared with a loss of RM2.2mil in the previous corresponding period. Sales in the fourth quarter rose to RM44.4mil from RM25.4mil previously.

The firm attributed the improvement to new property sales and clearance of existing completed units.

Daiman has some 35 years' experience in the property sector in Johor. It also had a strong balance sheet with net cash of some RM190mil at the end of FY07.

With its financial strength, it was seeking opportunities to enlarge its land-bank in Johor Bahru as well as venture into the Klang Valley, Daiman said, adding that it was also on the lookout for overseas investments.

Its two flagship projects, Taman Gaya and Taman Daiman Jaya, and its industrial park, Taman Perindustrian Murni Senai, were anticipated to benefit from the multiplier effect from the Iskandar Development Region and the development of Singapore's two integrated resorts, the company added.

SJ Securities in a CMDF report has an “overweight” call on the stock with a target price of RM2.26. It expects the Government's commitment to the development of south Johor to bode well for Daiman.

Brisk Sales of park homes

By The Star (Posted 6 Oct 07)

Perdana Park City sees 75% sales of Amelia Garden Homes in (Posteed just 10 days

KUALA LUMPUR: Some 75% of Perdana ParkCity Sdn Bhd's Amelia Garden Homes were sold within 10 days of the project's launch on Sept 17.

Lee Liam Chye with a scale model of the project

All 61 terrace houses with linear parks and private gardens for sale that day were bought by Desa ParkCity residents, chief executive officer Lee Liam Chye said.

“We wanted to give the buyers the first bite of the cherry, and sold all 61 units in just two days,” he told StarBiz.

To be completed in August 2009, the township will be built on 14.1 acres of the 435-acre Desa ParkCity, located between Bandar Menjalara and Country Heights Damansara.

Amelia Garden Homes will comprise 110 two-storey houses and 26 three-storey houses, priced from RM800,000 to RM1mil.

Lee said Kuala Lumpur had very few residential areas that were suitable for expatriates, who were a bit more demanding. “They want more alternatives in terms of accommodation,” Lee said.

“With park homes, you have houses with amenities, security and a lot of space.

“Also, a lot of people who come here say it feels like a different world altogether. They like the First World standards and the infrastructure and the design of the neighbourhood. It's a township that is very liveable for the expatriate,” he added.

The township is also targeted at upgraders from Kepong as well as those in living in a five to eight-kilometre radius, particularly Bandar Utama and Bandar Menjalara.

Exhibition returns bigger and better

By The Star

10,000 visitors expected to visit Interiors Malaysia 2008

Overwhelming response last year has prompted organisers to organise the Interiors Malaysia 2008 show on a bigger scale.

Joint organisers Institut Perekabentuk Dalaman Malaysia (IPDM), Malaysia Society for Interior Designers (MSID) and Expomal International Sdn Bhd will be organising the international interior lifestyle trade fair from May 29 to June 01 at the Putra World Trade Centre (PWTC) Kuala Lumpur next year.

The show will see industry professionals and partners such as developers, real estate owners, contractors and designers converge and network to cultivate closer business relationships to boost trade opportunities.

"Themed 'Multi-culture, Multi-expressions', the show present ideas for design fraternities as well as introduce products from suppliers all over the country and the world, "said IPDM president Vincent Lee during the launch at the Muzium Negara on Friday.

With the number of exhibitors and trade visitors targeted at 10,000, Interiors Malaysia 2008 would focus on concepts for soft furnishings, furniture and fixtures, lighting and fitting, decorative items, and landscape and gardening.

Interiors Malaysia 2008 is endorsed by the Housing and Local Government, and Entrepreneur and Cooperative Development ministries, International Federations of Interior Architects/Designers (IFI) and Asia Pacific Space Designers Association (APSDA) and Matrade.

For participation and more information, visit www.expomal.com/interiors
or contact: 603-8024 6500

Hunza plans upmarket mall in Penang

By The Star

KUALA LUMPUR: Hunza Properties Bhd is planning an upmarket mall at its Gurney Paragon project that it hopes will usher in a new shopping experience for Penangites.

Sales and marketing manager Eric Seow said the mall, set to be one of the largest in Penang, would be lifestyle-oriented and cater to high-end brands.

An artist's impression of Gurney Paragon

Spread over seven storeys, the mall will offer about one million sq ft of retail space and more than 2,000 parking bays.

Pic: Eric Seow

“We hope this shopping mall will introduce a whole new shopping experience to Penangites.

“In the past, a lot of brands would only go to Singapore or Kuala Lumpur. However, more regional brands are penetrating Penang and we are working towards that direction (in meeting shoppers' need for luxury brands),” he told StarBiz.

While population growth in Penang might be low, Seow said there was a growing new generation with the ability to spend.

“Now we see younger shoppers (in Penang) who are able to buy luxury items. This is good for brands targeting this group and Penang is a place for them to penetrate,” he added.

To realise its vision, Hunza has appointed the Philippines-based Cardiz International to undertake retail architecture of the mall.

Seow said Cardiz's experience in designing malls would ensure that Gurney Paragon mall stood out from its competitors.

Hunza would also appoint a retail consultant and has been in discussion with Britain-based DTZ.

The latter would advise in the mall's layout, shopping trends, tenancy mix and brands.

Seow was positive on the location of the shopping mall next to Gurney Plaza.

“The malls will complement each other. As shoppers want convenience, they will welcome the malls being side by side,” he said, adding that the company would find tenants different from those already operating in Gurney Plaza.

Seow said marketing activities to lease out the retail space would start early next year.

Gurney Paragon is a mixed integrated development comprising a shopping mall, two blocks of high-end condominiums and a heritage building spread over 10.21 acres of freehold land.

Located along Gurney Drive fronting the sea, the land was formerly occupied by Uplands International School. The company bought it in 2004 for RM97mil.

Gurney Paragon has a total gross development value of close to RM1bil.

Piling work for the development has begun and is scheduled to complete by 2010.

Esente - Kelab Golf Sultan Abdul Aziz Shah

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Life is to be enjoyed, so every feature optimize comfort, convenience and connectivity. An Esente home ownership comes with the prestige of the Kelab Golf Sultan Abdul Aziz Shah (KGSAAS) membership, with full access to the greens and clubhouse facilities.

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Nothing comes close to the prestige, privacy and security that Esente presents. Comprising only 12+1 units, Esente sits on elevated ground in an exclusive enclave within the gated community of KGSAAS, The Royal Address. This excellent location means easy accessibility through established thoroughfare, and to shopping and daily conveniences.

For further information kindly contact: 603-5510 5877
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SMART Investment & International Property Expo

SMART Investment & International Property Expo has an established reputation for attracting quality investors with a genuine and immediate interest in buying properties and investing into financial products including stocks, funds and alternative investments.

For these two days exhibitions, global experts on international property and investment strategy will be gathering at the SMART Investment & International Property Expo. More than 30 speakers will deliver key insights into the next wave of property hot-spots and investment options. The free-to-attend seminars offer unbiased information into the fundamentals for sound investments and is designed to aid and enhance visitors' understanding, knowledge and confidence to invest.

For full seminar details & additional seats visit :
Location: Kuala Lumpur Convention Centre
Time : 10am - 7pm
Date: 24th - 25th November 2007
Hall number: 4
Website: http://www.smartexpos.com
Hotline: +65 9279 2894

Harta Intan unveils RM65mil projects

By The Star

PENANG: Harta Intan Holdings Sdn Bhd is launching three development schemes in Penang and one in Selangor, comprising 243 commercial and residential properties with an estimated gross sales value of RM65mil, in early 2008.

Senior property manager Chan Kwai Heng said Harta Intan would launch, at Jalan Masjid Negeri in Penang, Pinhorn Suites, comprising luxurious 24 condominium units with built-up areas from 1,800 to 3,000 sq ft, and priced from RM700,000 onwards.

On the mainland, Harta Intan’s larger scheme is the RM24mil Taman Palladium project, located in South Seberang Prai.

“The project, comprising 80 semi-detached houses and bungalows and 12 single-storey shophouses, is located on 10 acres in Nibong Tebal,” he told StarBiz.

He said the selling point of the project would be the pricing, about 3%-5% lower than similar types of properties developed in the area.

“The single-storey semi-detached houses cost RM140,000 onwards, while the double-storey ones start from RM280,000.

“The double-storey bungalows are priced from RM400,000, while the single-storey shophouses are sold from RM150,000,” he said.

In Jalan Raja Uda in Butterworth, Harta Intan is also kicking off the RM10mil Sri Cempa scheme, comprising 88 medium-cost apartments.

“The 950 sq ft units, priced from RM125,000, are located next to the Butterworth Outer Ring Road,” he said.

In Shah Alam, Chan said, the group would develop the RM14mil Taman U16 scheme, consisting of 63 double-storey terraced houses, priced from RM210,000.

“Given the rising cost of land and raw material prices in Selangor and Penang, the group’s strategy is to develop residential properties in key locations that are attractively priced.

“Competitive pricing helps sell properties,” he said.

Chan said 90% of Phase II of the Palm Palladium project on Penang island, comprising 134 units in a 29-storey building, had been sold since its launch at end-2006.

“The demand for the Palm Palladium units is good due to competitive pricing and quality finishing.

“Prices have appreciated by 10% to 15% since its launch,” he said, adding that Phase II was scheduled for completion in the first quarter of 2008.

Established in 1996, the Harta Intan group has to date completed 2,260 residential units and 69 shops.

PPB Hartabina project to have six parks

By The Star ( News posted 13 Oct'07)

Penang: PPB Hartabina Sdn Bhd's latest low density luxurious residential development project in Penang will be surrounded by 13 acres of green lung, with six recreational parks.

(Picture shown: Eapen Thomas with a model of a semi-detached unit at the Taman Tanah Aman scheme)

PPB Hartabina, a wholly-owned subsidiary of PPB Group Berhad, is involved in property development and management. Director Eapen Thomas said the project, known as Taman Tanah Aman, comprised only bungalows and semi-detached houses on a 29-acre site in Bukit Tengah, Central Seberang Prai.

"The unique selling point of the scheme is that only 16 acres will be developed, leaving the remaining as recreational parks," he said after unveiling and launching the RM97 mil project recently.
He said the entire scheme would be fenced up and equipped with a colonial style clubhouse, located on a 1.28 acre site.
"The clubhouse has a very special history as in the 1950s it was the residence of sugar magnate Tan Sri Robert Kuok Hock Nien, who controls PPB Group Berhad."
"There were also hostels for the workers of Malayan Sugar Manufacturing Co (MSM), located in Prai," he said.

Thomas said PPB Hartabina bought the land from MSM for RM12.5mil in 2003. "The semi-detached houses, with built-up areas of 2,795 sq ft, are sold from RM700,000 onwards, while the bungalows, with built-ups of 5,000 sq ft, are priced from RM1.2mil," he added.
Taman Tanah Aman is scheduled for completion in 2010.

Mitrajaya heads for Sri Lanka

By The Star (News posted 13Oct'07)

KUALA LUMPUR: Mitrajaya Homes Sdn Bhd, a subsidiary of Mitrajaya Holdings Berhad, plans to launch its maiden property project in Sri Lanka next year.
Sales and marketing director Kok Siew Leng told StarBiz building plans for high-end condominiums had been submitted and the company was now awaiting approval from the relevant authorities.



Mitrajaya had in 1999 ventured into property development in South Africa where it still has some 300ha, which Kok said should keep it busy for the next few years. "We have been in South Africa for eight years. Sales of our bungalows and bungalow lots have been encouraging," she added.


On the local front, the company will launch a 90-unit condominium block and 243 double-storey houses by year-end. The condominium block is its eighth in Desa Impiana, which is part of the 250-acre Puchong Prima being developed by sister company Prima Harta Development Sdn Bhd.

Situated on 16 acres of freehold land, Desa Impiana also features 144 duplex units housed in four blocks. The project has an estimated gross development value (GDV) of RM 160 million.
"Sales have been encouraging with about 20% left of the total number of units," Kok said, adding that the last condominium block would be launched by month-end.

She also said the double-storey houses, which have a GDV of some RM 68 million, would be sited on 11 acres near Desa Impiana. For next year, the company plans to unveil its high-end condominium and low-rise villa development on three acres in Mont Kiara.
Named Kiara 9, the project with an estimated GDV of RM 30 mil, would be launched by the first quarter, Kok said. She said the company's Desa Idaman project, comprising low-rise apartments, had also seen promising sales since its soft launch a month ago.

Spanning 10 acres in Puchong Prima, the project comprises 540 units with an estimated GDV of RM 100mil. Kok said the project would feature a private water park complete with life size animals and rivers. With built-up areas from 950 to 1,100 sq ft, the apartments are priced from RM160,000 - RM280,000. Kok said the company also has seven acres in the Klang Valley and was in the process of acquiring 100 acres in Banting.

Esente @ Kelab Golf Sultan Abdul Aziz Shah (KGSAAS)

By Expatriate Lifestyle (advertorial)


A marriage of style, contemporary luxury and functional practically, the Esente residences at Kelab Golf Sultan Abdul Aziz Shah (KGSAAS) is Nam Fatt Corporation's latest boutique high end offering that is scheduled to be launched in early September.

Comprised of 13 exclusive units, 12 Semi-D and 1 bungalow, the Esente is situated in the reclusive
high security Zone C sector of the sprawling 400 acre golf and residential community. With an established community of several hundred of Malaysia's leading CEO's Directors, Business Tycoons, Ministers and other WIPs the KGSAAS address is second to none, offering exclusivity that is almost surreal.

A haven nature lovers, the matured greens of KGSAAS is the perfect getaway, as is for urbanites seeking country living lifestyle. For the nation's corporate big wigs it offers an escape from the daily rigours of a fast paced life as residents return to the quiet serenity of nature. It is here amid the peaceful silence of nature that the Esente emerges delicately permeating with the environment and its surroundings for a sense of freedom that truly emulated its name.

Esente, Which is Italian for free, is a reflection of the current state of fluidity between various activities that make up our lives particularly working from home. Hence the Esente home is one which is intelligently designed, is comprehensively equipped with technology and is well laid out so as to facilitate conventional living while minimizing clutter and opening up living spaces for unconventional working from home.

Esente KGSAAS is a creation that goes beyond simple visual aesthetics with its highly functional design which makes all its Semi-D units look and feel exactly like a bungalow, while taking advantage of key elements in our tropical climate to ensure that the property is well cross ventilated and extensively shaded all the while ensuring that the interiors are marked by plenty of natural light. At the heart of these unique aesthetics is the pond that separates the two adjoining units within a single structure that appears as a bungalow.

The design also works to bring the outdoors in by incorporating continuous open concept layouts complimented by clever landscaping. The continuous flow of space across all 3 floor of the house is central to the design concept of Esente so that main entrance foyer is connected to the living, dining and kitchen which in turn opens up to the side terrance and garden. The result is a sense of spaciousness that dulls boundaries. In the upper floors the master bedroon and the attic flow seamlessly and function as a large room with a study that is perfect for visiting extended family or guests, similarly the ground floor guest rooms opens on to the terrace and garden.

Care has also been taken to insure that th interiors and the finishing are exemplary and compliment the concept. Thus every window and every door maximizes light and minimizes glare so that the entire residence is bathed in natural light creating an inviting and peaceful ambience. The stairways are well lit with exterior walls rendered generously in glass which lets in sunlight and provides an exceptional view.

The Esente home is wired with a smart home system which, among other things, allows for lightening automation, a panic button and data points in every room. Internet connectivity throughout the property facilitates the reality of effectively working from home, an invaluable convenience which frees your valuable time from the hassles of daily commuting and traffic jams.



Living at KGSAAS is a privilege as it affords you a lifestyle that most can only dream of, swimming at the club house with the kids, taking a leisurely stroll along the tree lined avenues, throwing fabulous outdoor parties, tea parties and lavish dinners in your large garden and additional open spaces while ending your day perfectly with a round of night golf.

The selling price for the Bungalow and Semi-D's starts from RM 1,424,000 to RM 2,208,000 with promotional packages offered of a 5% Early Bird discount, 7% Bumiputra discount, Free Sales and Purchase Legal Fee and Free Golf Club Membership worth RM28,500.

For the exceptional, Nam Fatt Corporation is also releasing its limited stock of 'reserved' bungalow plots for a more personalised creation.

For further information, kindly contact : Esente @KGSAAS , Sales Gallery tel: 603-5510 5877