Green living at Aquamarine

The neighbourhood’s latest freehold development is an endorsement of spacious and healthy living set amidst lush greenery complemented by a seven-acre community park.

BY YVONNE YOONG
yvonneyoong@thestar.com.my

Overall view of Aquamarine.

SPACIOUS homes and green surroundings will certainly go hand in hand at the freehold Aquamarine development with a gross development value (GDV) of RM160mil spread across 10.83 acres in Taman Putra Prima in Puchong.

Indeed, for starters, there will be a central seven-acre community park and beautifully landscaped green zones, nature’s magnificent splendour literally beckons at one’s doorstep in this private and serene haven for the family.

The practical charms of a well-designed residence will be a daily reality with its list of unique selling propositions that include contemporary designs and spacious layouts.

The typical two-storey layout encompasses a master bedroom large enough to accommodate a walk-in wardrobe while the corner units will be perfect for those with extended families by virtue of the fact that the spacious second floor bedroom will feature a lanai that can be converted into a second master bedroom.

Each two-storey unit will feature four plus one bedrooms and four bathrooms.

Living & dining area.

The three-storey layout with its grand master bedroom concept will occupy the entire floor with a private sitting area and covered balcony. Each three-storey unit will feature five plus one bedrooms and five bathrooms.

In essence, these units will pave the way for a clear separation of space that harmonise the private and family areas into a seamless and coherent design concept.

Developed by Plenitude Permai Sdn Bhd, a subsidiary of Plenitude Bhd, Phase 2C of Aquamarine that has just been launched recently has already seen a 35% take-up rate out of its total 150 units comprising two- and three-storey terrace houses.

Plenitude Bhd executive chairman  anticipates demand to be high for the corner units due to the flexibility afforded by its large bedroom and special lanai area on the second floor.

The units, designed according to a north-south orientation, will feature high glass windows to allow natural lighting in while sun-shading louvres will be featured in the corner units.

Spacious bedroom.

The three-storey units come with 12 ft high ceilings while the two-storey terrace houses feature 13 ft high ceilings. All bedrooms will have en-suite bathrooms fitted with solar hot water system and inverter air conditioner piping.

“Our target market is represented in the upgraders who may consider these landed freehold houses as their future retirement homes. Alternatively, they could also view the homes as their next generation or children’s dream home. These upgraders are mainly from the surrounding neighbourhoods who have long stayed in smaller scale houses or apartments/condominiums,” she says.

Not dismissing the fact that in recent years, a younger group of people has moved into Puchong due to work requirements in Putrajaya and Cyberjaya, she anticipates that these young families may consider purchasing the units at Aquamarine.

Envisioning that the development will be well-received by upgraders and owner occupiers, she says that community facilities with 50 ft wide internal roads and perimeter hedging, underground cabling and three-phase power supply as well as a single entry and exit point to Aquamarine will be other value-added features.

Two-storey terrace house.

Priced from approximately RM370 per sq ft compared to the neighbourhood pricing of above RM400 per sq ft, she says affordability is key at the Aquamarine development.

The two-storey terrace units categorised as Type B, C and D with built-up areas starting from 2,456 sq ft with land sizes of 22 ft x 72 ft and 22 ft x 75 ft respectively will be priced from RM956,000 onwards.

The three-storey terrace units categorised as Type A have built-up areas starting from 3,426 sq ft with a land size measuring 22 ft by 75 ft. These units will be priced from RM1.215mil onwards.

Each unit will be able to accommodate two cars parked side-by-side at the large car porch area with an automatic gate.

Easy accessibility

The mature township is already equipped with ample commercial support and a ready network of comprehensive infrastructure. Surrounded by public amenities, such as shopping malls, hypermarkets, financial and educational institutions as well as medical centres, the upcoming LRT (light rail transit) station at Puchong Prima located 3 km away is anticipated to boost the value of the development. The LRT and bus transit points will also help ease traffic.

Plenitude Bhd executive chairman Chua.

A key highlight of the development is its excellent connectivity to major highways such as Lebuhraya Puchong Highway (LDP), Lebuhraya Shah Alam (Kesas), Puchong-Sungai Besi Bypass, the North-South Expressway Central Link (Elite), Putrajaya Link and the Puchong Hicom-USJ Link.

The development is located in close proximity to local amenities that include being a mere 3 km away from Tesco Hypermarket and Aeon Big.

Columbia Asia Hospital is located just 8 km from the development while Sunway Medical Centre is 15 km away. Meanwhile, Putrajaya Hospital is situated 19 km away.

Within nearby travelling distance are educational institutions such as Sekolah Jenis Kebangsaan (SJK) (C) Han Ming, SJK (C) Sin Min, Sekolah Kebangsaan (SK) Puchong Perdana, SK Puchong Indah, Sekolah Menengah Kebangsaan (SMK) Puchong Permai, Sekolah Menengah (SM) Sains Seri Puteri Cyberjaya.

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They built this city

Developer bullish about integrated development

Lifestyle mall: Tan says Damansara City will be the first mixed-use development in Damansara Heights.

PROPERTY developer Guocoland (M) Bhd is bullish about its Damansara City project as they have already leased out both office towers.

Set for handover early next year, Guocoland managing director Tan Lee Koon says the market is confident with the project thus it was snapped up quickly.

“Tower A, which has 33 floors in total, has been fully taken up while Tower B, with 18 floors, is being picked up quickly. We have very few units left,” said Tan.

Damansara City, a luxury integrated development worth RM2.5bil, is recreating and redefining luxury in an already upscale neighbourhood.

Besides two office towers, Damansara City also comprises of high-rise luxurious DC Residency, an open-street concept lifestyle mall and a five-star hotel.

“Damansara City will have its spanking new luxury hotel. The upscale Clermont Kuala Lumpur will be part of the development.

“The 23-storey hotel, which will feature 312 lavishly appointed guest rooms and suites, is due to open next year. As well as a range of refined dining options and recreational facilities, Clermont Kuala Lumpur will also have a grand ballroom and meeting rooms,” says Tan.

“The choice of Clermont was most apt and an important step forward in Kuala Lumpur’s transformation into a world-class city, supporting Damansara City’s role as one of the entry point projects under Malaysia’s Economic Transformation Programme,” he added.

Besides the luxury hotel, there are also two 28-storey residential towers. DC Residency comprises 370 contemporary luxury serviced apartments with one bedroom to 3+1 bedroom units and penthouses that come fitted with high quality fittings froms brands such as Poggenpohl, Miele, Gessi Emporio and Catalano.

Strategically located in the heart of Damansara Heights, DC Residency will be complemented by the added convenience of the MRT station at its doorstep.

It is also served by the Sprint highway linking Kuala Lumpur and Petaling Jaya.

Typical units have gross built-up areas ranging between 899sq ft and 2,705sq ft. Owners will enjoy an Olympic-length salt water infinity pool, Jacuzzi, sauna and steam rooms private dining rooms, function rooms and multi-purpose hall, barbecue area and chauffeurs’ room.

“DC Residency residents will enjoy seamless integration with the luxury of a five-star hotel, the convenience of a lifestyle mall and the efficient proximity of Grade A offices, all within the 8.5-acre freehold development of Damansara City,” Tan said.

“Damansara City is the first mixed-use development in the heart of Damansara Heights and we are confident it will transform this established neighbourhood when the entire development is completed,” he added.

On top of providing a luxurious conclave for urbanites, Guocoland has taken it upon themselves to build one tunnel and two flyovers to ease congestion for those living and working in the development.

With prices starting from RM1,400 per sq ft, Damansara City is set to rival all other luxury properties in the Klang Valley with its very own mall.

The lifestyle mall, described as the crown jewel of Damansara City, will offer a new experience in dining, entertainment and shopping.

Unlike conventional shopping complexes, the Damansara City mall will offer a unique and casual “open” street concept with alfresco dining along the walkways and enclosed-type retail spaces.

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Mah Sing’s net profit rises 18%

KUALA LUMPUR: Mah Sing Group Bhd’s net profit for the first quarter ended March 31, 2015 rose 18% to RM98.89mil from RM83.78mil a year ago due to higher work progress and sales from ongoing development projects.

The property developer said on Thursday, that the ongoing development projects that contributed to its earnings were Icon City, M City, M residence, M Residence 2, Southville City@ KL South and Southbay City.

Meanwhile, its revenue jumped 22.1% to RM784.14mil compared to RM642.19mil a year ago due to the improvement in sales from these development projects as well as the plastics segment.

The plastics segment contributed positively to its revenue and earnings, whereby its revenue increased 1.7% to RM61.7mil, from RM60.6mil a year ago.

“As at March 31, 2015, a total of RM48.71bil comprising unbilled sales of RM5.12bil combined with remaining gross development value of RM43.59bil is expected to sustain revenue growth for the next 8 to 10 years,” Mah Sing said.

With its net cash position, the group can capitalise on appropriate acquisition or joint venture opportunities to further strengthen its property portfolio for long-term growth momentum.

The company’s earnings per share for the quarter was up 5.96sen, from 5.49sen a year ago.

As at end of its first quarter, the group had a cash pile of approximately RM1.59bil and in a net cash position.

Mah Sing said that the country’s property market is undergoing a softening demand as buyers adjust to cooling measures and GST.

Hence, the company has strengthened its market efforts towards products differentiation through a diverse range of prices properties at various growth locations.

It noted that its new projects that are key drivers of sales include Southville City@KL South , D’sara Sentral in Sungai Buloh, and Lakeville Residence in Taman Wahyu.

Going forward, Mah Sing expects the upcoming projects such as Meridin East in Iskandar Malaysia and Festival Lakecity@Puchong CBD to spur its future sales.

In the long run, it said that it is confident of market prospects supported by strong household formation, young demographic and steady employment condition.

“The group’s strategic positioning in the four property hotspots with greater focus in Klang Valley due to extensive ongoing and proposed public transportation infrastructure investments in the key corridors where its projects are strategically located,” it added.

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Ewein banks on property for growth

GEORGE TOWN: Ewein Bhd, a leading company in the precision sheet metal fabrication industry, expects its property development business to be the main driver of the group’s growth in the near future.

Group managing director Datuk S.K. Ewe said the group’s maiden project in Penang, City of Dreams, which would be launched in the second half of 2015, was expected to generate some RM200mil in pre-tax profit to the group over the next four years, starting from 2016.

The RM800mil, 40-storey City of Dreams comprises 572 condominium units.

“We have just received the green light from the local authorities for City of Dreams,” he said after the company’s AGM.

On March 31, 2015, Ewein Zenith Sdn Bhd received planning permission for the City of Dreams project to be developed on a 1.48 ha site in Bandar Tanjong Pinang, Tanjung Tokong.

Ewen Zenith is a joint venture company set up by Ewein and Consortium Zenith BUCG Sdn Bhd (CZ BUCG).

The land cost for the City of Dreams is RM133mil, while the development cost is expected to be more than RM400mil.

Moving forward, Ewe said the group was now negotiating to buy from CZ BUCG another parcel of about 1.8ha in Bandar Tanjong Pinang for another development project.

“Depending on market demand, it could either be a residential or a commercial scheme,” Ewe added.

The second project is expected to have a GDV of RM1bil.

Ewein specialises in manufacturing sheet metal enclosure, designing precision moulds, tools and dies, and fabricating injection moulding for finished products. Its products are exported to the United States, Brazil, China, Finland, and India.

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Two more land parcels for bumi developers

PETALING JAYA: Property developer Kwasa Land Sdn Bhd has carved out 10.43 acres in the Rubber Research Institute (RRI) land in Sungai Buloh to be developed by selected pre-qualified bumiputra developers.

Kwasa Land, a wholly-owned subsidiary of the Employees Provident Fund (EPF) and the master developer of the 2,330-acre Kwasa Damansara, said in a statement that the request for proposal (RFP) was for two parcels of land measuring 6.52 acres and 3.91 acres to be developed into residences.

Kwasa Land said the proposed reserved price for one parcel was RM125 per sq ft (psf) based on its leasehold title, while the proposed reserve price for the other parcel was RM135 psf for its freehold title.

Invitations to pre-qualified bumiputra developers are issued and submission for the RFP tender documents will close by July 10.

“We are in the midst of calling the next pre-qualification of development partners for the Kwasa Damansara township as the last exercise was done three years ago,” it said.

The township will have two mass rapid transit stations, a well-connected network of four expressways and close proximity to SkyPark air terminal in Subang.

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UOA expects steady property demand

KUALA LUMPUR: UOA Development Bhd, which had sold RM146mil worth of properties so far this year, expects demand to be steady despite concerns about the goods and services tax (GST) and strict lending rules by banks.

“We expect revenue for 2015 to be consistent, taking into account the projects to be launched this year,” said general manager Eugene Lee after the group’s 11th AGM yesterday.

“Construction costs are expected to rise. Although, we have added GST in our costing, it’s too early to estimate how much it’s going to go up,” he said when asked the outlook for the year.

UOA had a good start in 2015, as first quarter ended March 31 net profit surged 76% to RM78.48mil from RM44.65mil a year ago on the back of a 79% hike in revenue to RM313.70mil from RM174.98mil.

Lee said projects in the pipeline for 2015 has an estimated gross development value (GDV) of RM2.42bil, which included a mixed integrated development on 10 acres in Kepong (GDV of RM1.5bil) expected to be launched in the second half of 2015.

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Grand-Flo upbeat on property development

BY THOMAS HUONG

Top officials: Tan (centre) with executive directors Cheng Peng Liong (right) and Yap Li Li looking at Grand-Flo’s the annual report after the AGM.

PETALING JAYA: Property development is expected to provide half of Grand-Flo Bhd’s revenue this year, compared with a 20% contribution in 2014.

The tracking solutions provider and property developer group has two ongoing projects located in mainland Penang – the Vortex Business Park with a gross development value (GDV) of RM220mil in Batu Kawan, and The Glades landed residential project with a GDV of RM63mil in Bukit Mertajam.

Both projects are targeted for completion in 2017, and currently, unbilled sales are at RM78.1mil.

“The take-up rate is 70% for the first phase of Vortex Business Park. There has been encouraging response for The Glades since the soft launch,” said Grand-Flo group president and managing director Derrick Tan.

He also said the group was looking for land with “good value” in the Klang Valley and strategic growth areas in the country.

“In addition to a healthy balance sheet, we recently raised RM14mil from the conversion of warrants, which would be utilised to expand our property venture and explore merger and acquisition opportunities,” said Tan after the group’s AGM at Tropicana Golf & Country Resort.

On its tracking solutions business, Tan said Grand-Flo’s order book was at RM14mil.

“We are still adding new customers from different industries, including food and beverage, logistics and fast-moving consumer goods,” he said.

Tan also said the group’s 19% Thailand associate, Simat Technologies PLC, which provides Internet broadband services, was aiming to break even by year-end.

“This can be achieved by growing the current 6,000 subscribers to 10,000 or 12,000 by end-2015,” said Tan.

Meanwhile, Grand-Flo posted a 50.5% year-on-year rise in net profit to RM5mil for the first quarter ended March 31, 2015 on the back of a 91.7% rise in revenue to RM27.2mil.

This was attributable to a favourable product mix as well as new contributions from the property segment besides software sales to companies that needed to comply with the implementation of the goods and services tax.

At the AGM, shareholders approved a final tax-exempt dividend of one sen per share, which translates into a total dividend payout of RM4.5mil, representing 67.9% of the 2014 financial year’s net profit.

Grand-Flo’s dividend policy is a distribution of a minimum 20% of net profit.

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UEM Sunrise wants to buy more land

Property developer allocating RM500mil for this purpose

Anwar: ‘Depending on what we identify, the payment can be spread over time.’

BY CHERYL POO
cherylpoo@thestar.com.my

PETALING JAYA: UEM Sunrise Bhd will focus on land banking this year with its RM500mil-per year cash allocation for land acquisition over the next three to four years.

“Depending on what we identify, the payment can be spread over time. We don’t have a set limit, so if the price is higher than expected, we will manage the terms of payment based on progress,” managing director and chief executive officer Anwar Syahrin Abdul Ajib told the press after the company’s AGM.

Anwar said the property developer was working hard this year to manage its cash flow, which was negative last year.

Buying land would not be a problem, as the company’s net gearing stood at 0.27 times. However, it has to improve working capital management, especially on receivables.

“For example, we have to manage contractors better,” Anwar said.

In order to broaden its geographical offerings, UEM Sunrise, which is the master developer of Nusajaya – one of five flagship zones of Iskandar Malaysia – is looking to buy land in the Klang Valley, Sabah and Sarawak.

The property developer said it would tread cautiously, given the situation of oversupply in Johor.

“We are watching very carefully certain segments that display signs of oversupply.

“That’s why landbanking is very important to us,” said Anwar.

“There’s a peak and downturn in every property cycle, so we must be prepared to weather the downturn. That is why in this year’s launches, we feature a good mix of high-end products as well as affordables in the Southern region.”

For the first quarter ended March 31, 2015, UEM Sunrise posted a net profit of RM53.1mil, 13.7% lower than RM61.5mil last year due to higher selling cost in the development of Aurora Melbourne Central project in Australia and lower contribution from associates and joint ventures (JVs).

Revenue was at RM417.4mil, 3.9% higher than the RM401.6mil of last year, primarily due to higher revenue from construction progress made from the Teega and Arcoris projects, and the completion of the Summer Suites project in the current-year quarter.

Currently, the company has a total land bank of 14,600 acres locally and overseas, with an estimated remaining gross development value (GDV) of RM103bil, including JV projects, Anwar said. Out of this, 77% is in Johor.

“We also have a good pipeline of international products we can launch over the year to sustain our financial performance,” Anwar said.

“Apart from its Johor offerings, UEM Sunrise expects continued income from its overseas developments such as its Aurora Melbourne Central over the next three to five years, as only the residential component has been launched.

“There is still the retail, commercial and serviced apartment/hotel component with an estimated GDV of A$180mil (RM511.9mil), as well as the launch of The Conservatory, a high-rise residential mixed development in Melbourne with an estimated GDV of A$200.6mil (RM570.48mil).

For 2015, UEM Sunrise has targeted sales of RM2bil, which it hopes to achieve with new launches as well as existing products after some repackaging.

Last year, the group recorded 20% higher property development sales than the revised sales target of RM2bil, of which RM1.498bil came from international projects and RM945mil from the central and southern region in Malaysia.

Speaking on how the 11th Malaysia Plan, which was announced yesterday, would benefit UEM Sunrise, chairman Tan Sri Dr Ahmad Tajuddin Ali said there would be some benefits from the Gemas-Johor double-tracking railway project.

“We would benefit from that, but more so, we would benefit from the high-speed rail project which will pass through Nusajaya before Tuas,“ he said.

Meanwhile, the company’s tussle with Bank Kerjasama Rakyat Malaysia Bhd’s subsidiary, Rakyat Holdings Sdn Bhd, for the recovery of Bangunan Angkasaraya at Jalan Ampang was being ironed out, Anwar said.

“We are talking to them for an amicable solution. Discussions have been positive because both parties are eager to move forward. Hopefully, this can be settled by the year-end,” he said.

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