Berjaya Land: Penang luxury home market stable

GEORGE TOWN: Berjaya Land Bhd, which has sold 40% of the Jesselton Villas bungalow lots at the Penang Turf Club (PTC), sees a stable market for luxury housing products in Penang.

Group executive director Eason Phan said as long as the developer came out with the right product for the discerning property buyers, there was demand.

“We have so far sold 40% of the 69 bungalow lots in sizes ranging from 5,995 sq.ft to 9,634 sq.ft with the average selling price of each lot at RM674 per sq.ft,” Phan said.

Phan said each lot was able to accommodate a bungalow with 5,000 sq ft built-up area.

“We will start the construction for the infrastructure in the final quarter of 2015, which will take 12 months to complete,” he said at a press briefing yesterday. These 69 units formed the first phase of Jesselton Villas known as Kensington Gardens. There are two more planned phases which are yet to be named.

The RM900mil Jesselton Villas project, sited in the heart of Penang Island, will see the 58-acre freehold land surrounded by lush vistas and a pristine forest hillside.

“One of the unique features of the development is that it has been designed according to the existing natural terrain with minimal physical change.

“In addition, the developer will undertake works to transplant more than 300 matured trees from the same site ito maintain the essence of sustainable green environment of the area,” Phan said.

He said the project incorporateds the finer elements of communal living features, which had transformed cities like Copenhagen, Stockholm and Amsterdam, where communities live and communicate freely, safely and seamlessly.

“Melbourne, New York, and even Paris are also emulating these strategic approaches to make their cities liveable and sustainable,” he said.

Berjaya’s property development division has been responsible for some of Malaysia’s most visible and sought-after developments, ranging from high end to affordable residential and commercial developments, with notable addresses at Seputeh Heights, Subang Heights, Bukit Jalil, Taman TAR and many more.

Berjaya has also made significant impact on property developments overseas, namely in Vietnam, South Korea, Japan, and China.

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Mara ready to sell Melbourne properties for right offer

 

KUALA LUMPUR: Majlis Amanah Rakyat (Mara) will not hesitate to sell the four Melbourne properties purchased by its investment arm Mara Inc. if the right offer comes along, says Tan Sri Annuar Musa (pic).

The Mara chairman said there were no problems with selling the properties as they had been purchased for investment.

“The purchase of the properties was for investment and if we have a willing buyer who wants to buy them at a higher price, then we will sell,” he told a press conference at Mara headquarters on Wednesday.

Citing the example of Atelier apartments in London, Annuar said Mara had decided to sell that property after it was confirmed that it would yield a profit.

“If we can decide to sell Atelier then why not other properties including those in Melbourne? We will sell if we can obtain a profit but it has to be according to procedure,” he said.

The four Melbourne properties were at the centre of a controversy following allegations that Mara Inc. had overpaid a total of RM129mil for them.

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Waterfront ‘city’ of many choices

Surrounded by nature: Aerial view of the LegendaSouthbay resort bungalows.

MAH Sing Group’s iconic development, Southbay City in Batu Maung, Penang, combines the best of living, working, entertainment and leisure in one vibrant township of the future.

The RM2.09bil mega project sits on a prime location easily accessible via the Sultan Abdul Halim Muadzam Shah Bridge, Tun Dr Lim Chong Eu Expressway and Penang Bridge.

The integrated undertaking, which is currently being completed in phases, was earlier voted winner at the Cityscape Asia Real Estate Awards 2010 under the Best Waterfront Development (Future) category.

Among the components in its overall masterplan is Southbay City itself, which will have retail outlets, shorefront restaurants, luxurious residential suites, offices, hotel and resort, along with other tourist and recreational attractions.

Within it is Southbay Plaza, a mixed development of 206 residential suites housed in a pair of majestic 31 and 32-storey towers, and 47 retail outlets.

The commercial floors will have an ideal mixture of brands in one to three-storey units. Limited units are still available in a variety of layouts with key features like column-free interiors, 26ft (7.9m)-wide frontages and 12ft (3.6m) walkways.

Meanwhile, the waterfront residences boast high ceilings and have layouts ranging from two to 3+1 bedrooms.

To maximise privacy, each floor will have only five or six units.

Resort-inspired facilities and green features include an infinity pool, viewing deck, gymnasium, library and lush gardens.

Legenda@Southbay offers luxurious three and four-storey resort bungalows in a nearby gated and guarded precinct close to the sea and cushioned by greens.

There are 76 residences with built-ups between 6,460sq ft and 7,300sq ft, built on land sized from 7,500sq ft.

They are arranged in two distinct rows ending in cul-de-sacs.

Each home comes with six en suite bedrooms, private lift, home automation system, solar hot water, water filtration and rainwater harvesting systems, personal pool with spacious deck, multiple-decked balconies and outdoor terrace.

A Residents Clubhouse with infinity and wading pools, gymnasium, community hall and relaxation lounge will be a popular gathering spot.

Legenda was awarded the coveted Asia Pacific Residential Property Awards (in association with Bloomberg TV) for ‘Malaysia’s Best Architecture’.

Phase 2 has been completed with limited units available.

The Loft@Southbay is touted as a private gateway to an enchanting sea. There will be 156 luxurious serviced suites split evenly between two 30-storey tower blocks, or three units per floor. Only limited numbers are still available.

There are three options with built-ups ranging from 1,378sq ft to 1,680sq ft, with open plan layouts and high ceilings for an airy interior. Large windows will open to panoramic views of the waterfront.

Approximately 2.5 acres (1.01ha) is dedicated to leisure and recreational decks, with unique features being the multi-layered swimming pool of The Cascade, and a sky bridge connecting a lounge and gym on Level 15.

Another top-notch development by Mah Sing Group is the ultra luxurious resort-themed Ferringhi Residence, spanning 61.03 acres (24ha) in Batu Ferringhi.

Phase 1, consisting of 20 blocks of five-storey Condo Villas with 200 units, has been completed with OC expected soon, while Phase 2 (Ferringhi Residence 2) offers 632 freehold resort condo units.

Of the total, 602 units are in two blocks 10 and 32 storeys high and have built-ups of 1,197sq ft to 1,534sq ft, with 2+1 or 3+1 bedrooms (two en suite bathrooms).

The remaining 30 are in a four-storey block, and have living spaces of 1,438sq ft to 2,875sq ft.

To find out more, visit Mah Sing’s booths (G7 and G8) during the StarProperty.my Fair 2015 at G Hotel and Gurney Plaza from tomorrow to Sunday.

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Affordable housing in Kedah to be BDB’s focus

Management team: (from left) BDB Quarry Sdn Bhd executive director Mohd Sobri Hussein, BDB group corporate communications senior manager Sajahan Abdul Waheed and Izham at the briefing.

KUALA LUMPUR: Kedah-based property developer Bina Darulaman Bhd (BDB) will focus on affordable housing projects in the state as well as developments in Langkawi worth RM1.5bil to sustain growth and remain profitable.

BDB, whose core businesses are in property development, road works and construction, is developing some 2,000 acres in Kedah.

Of the 2,000 acres, 1,200 acres were acquired recently from the Kedah State Development Corp for RM200mil while the rest are its existing land. The new projects will cover commercial developments in Kuala Ketil and Sungai Petani.

BDB is also developing four other projects on 226 acres of land in Langkawi, which will take five to seven years to complete.

The four projects – a mixed development comprising serviced apartments, affordable housing and a commercial component in Kuah; ecotourism apartments; development of 13 acres of mangrove area into eco tourism villas for sale and leasing; as well as upgrading works of the Kuah Jetty facilities to develop a multi-storey car park and hotel nearby – will collectively have a gross development value of RM1.5bil. These projects will begin progressively next year.

For the first quarter ended March 31, 2015, BDB posted a net profit of RM3.67mil, down 27.8% from RM5.2mil last year.

Revenue came in at RM36.7mil, nearly half of the RM67.6mil achieved in 2014.

Group managing director Datuk Izham Yusoff said last year’s good performance was a one-off due to the contribution from its collaboration with Perbadanan PR1MA Malaysia for an affordable housing project in Kuala Ketil, Kedah.

“This year, we will still be profitable but it won’t be like last year as the general economy would affect our earnings and there may be delays in construction. As such, we are getting ourselves organised and we are trying to be flexible,” he said at a briefing to announce BDB’s upcoming projects.

He added that its recently launched Taman Tunku Intan Safinaz in Jitra was 70% booked to date, indicating that demand for property in Kedah was still strong.

BDB is also eyeing property projects in the Klang Valley with joint-venture partners.

The property player is evaluating proposals that has been submitted and is in talks with other developers for potential joint ventures.

While he refrained from disclosing the names of the potential partners, Izham said BDB would determine by the year-end which projects it would pursue.

“The Klang Valley market is intense and presents many opportunities. When the market is down, we may be able to buy land or attain rights to it at a more reasonable price.

“For now, the focus is to attain land. The development can be done at a later stage as long as we see value in what is offered to us,” he said, adding that BDB was still in talks with the potential partners.

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Township with the wow effect of absolute perfection

The perfectly designed township of Matrix Concepts Holdings Bhd, Bandar Seri Impian, has set to amaze residents with the combination of positive feng shui elements.

Artist’s impression of the entrance, providing 24/7 surveillance by security guards.

As one of the top contenders in the property sector, Matrix Concepts Holdings Bhd has developed many admirable developments across Malaysia. The most recent launch of this firm is a fully integrated township in Johor, dubbed Bandar Seri Impian, a development which promises a serene-cum-placid setting in an urban township.

Since the township was launched, 4,000 units of residential and commercial properties have been completed, with an estimated occupancy rate of 85%.

With a vision to provide a fully functional township, Matrix Concepts has allocated plots to develop schools, bus terminal, market, fire station, a medical centre, post office, police station, religious worship places, shopping complex, as well as public libraries and healthcare centres.

Included in this township are a myriad of other facilities to provide comfortable living for the residents. A serene recreation park combined with mini fitness park and a playground, coupled with a second playground and fitness park, basketball court, futsal court, badminton court, reflexology park and a gazebo, are also included to promote some family leisure time.

The security feature of a development has become vital in choosing properties. To provide a safe and secure environment, this township comes with 24-hour security surveillance and perimeter fencing, offering a crime-free setting for the residents.

The panoramic night view of Bandar Seri Impian.

Amenities at the doorstepThe township is located near to the International Medical University and schools, namely SM Sains Sembrong and SMK Jalan Kota Tinggi. Meanwhile, for medical emergencies, the Kluang General Hospital Enche’ Besar Hajjah Khalsom is located merely minutes away from the township, as well as supermarkets and malls such as Econsave, Kluang Mall, BCB Plaza, Kluang Parade and Aeon Big.

Bandar Seri Impian also boasts excellent connectivity as the township is situated at the centre of Johor, with Batu Pahat located 57 km to the west, Mersing located 100 km to the east, Johor Baru is 75 km to the south, Segamat is 78 km to the north, making this township highly accessible from all directions.

The North-South Highway, on the other hand, offers high accessibility, as it only takes 97 km to reach Iskandar Johor, 155 km to reach Malacca, 208 km to reach Seremban, 272 km to reach Kuala Lumpur, and only 110 km to reach Woodlands, Singapore.

There are also several KTM stations located within a short distance, providing good networking. The Kluang KTM Station is the nearest, followed by Renggam KTM Station.

As the population of this township increases to an approximate of 20,000 people, the developer has set to improve the existing roads by expanding the main road along Jalan Kota Tinggi towards Wisma Majlis Perbandaran Kluang, which is scheduled for completion by end-2015. With an expenditure of RM18mil, the existing two- lane roads were expanded into four lanes to reduce traffic congestion.

Artist’s impression of Euphony from a serene garden street view, the latest project launched in the township.

Impeccable layoutsBandar Seri Impian saw several launches in the past, which included residential developments, namely Impiana Bayu 1, Impiana Bayu 2 and Impiana Heights, coupled with commercial developments namely Impiana Square and Impiana Avenue.

Impiana Bayu 1 is the first phase to be developed, which offers Eugenix, double-storey link homes and Eugenia, single-storey link homes. Eugenix comes with four bedrooms and three bathrooms in a 2,325 sq ft layout, while Eugenia offers three bedrooms and two bathrooms, which has 1,220 sq ft of built-up space. To date, 99% of the 603 units are sold.

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The second phase dubbed Impiana Bayu 2 consists of two-storey link homes. The first type, Euphoria, offers 2,093 sq ft homes with four bedrooms and three bathrooms and the second type called Euphony, has 2,500 sq ft built-up with four bedrooms and four bathrooms, which was launched in April 2015.

Artist’s impression of Vistania 1, beautifully designed single-storey semi-detached houses.

Impiana Heights offers four layouts – Palazzo 1, Palazzo 2, Vistania 1 and Vistania 2.

Palazzo 1 comprises single-storey bungalow houses with 2,920 sq ft built-up, designed with four bedrooms and three bathrooms. Palazzo 2 offers double-storey bungalows, each with four plus one rooms and four bathrooms, and 4,550 sq ft built-up.

Vistania 1 offers single-storey semi-D with 2,345 sq ft built-up with four bedrooms and three bathrooms. Meanwhile, Vistania 2 consists of double-storey semi-D with 3,780 sq ft built-up. This layout is designed with four plus one rooms and four bathrooms.

Artist’s impression of Vistania 2, elegant double-storey semi-detached houses.

Elements of feng shuiThe elements of feng shui, a belief concerning spatial arrangements and orientation in regards to the flow of energy (qi) has also been taken into consideration in the design of Bandar Seri Impian.

This township is surrounded by beneficial mountains which helps to generate qi, such as Greedy Wolf Mountain, Seated Greedy Wolf Mountain, Sunken Head Heavenly Wealth Star, Earth Star and Water Star Mountain, Metal Star Mountains, Sky Horse Mountain and Guardian of the Water Mouth.

The Greedy Wolf Mountain in the northwest is ideal for enhancing nobility and reputation of the residents and the Metal Star Mountain in the southeast is suitable for commercial based developments.

Artist’s impression of Palazzo 2, beautifully designed double-storey bungalows.

In addition, the Earth Star and Water Star Mountain in the north and northeast bring out qi, which is ideal for entertainment-based businesses and the Sky Horse Mountain at the southwest also indicates prospect for foreign investment into the township. The strong left and right embrace of the township also further helps to retain the qi.

Having a good and positive feng shui is very rare in many developments, yet Matrix Concepts has given high importance in incorporating this element in the planning of Bandar Seri Impian, making this township unique and auspicious compared to other projects in the neighbourhood.

Developer profileHaving ventured out as a property developer in 1997, Matrix Concepts has been in the property industry for over 15 years. The Negri Sembilan-based developer collaborated with Group and Koperasi Kemajuan Tanah Negeri Johor Bhd to undertake the development of Bandar Seri Impian in Johor.

Besides this 901 acres integrated township in Kluang, Matrix Concepts is also working on developing a 5,233 acres flagship township in Negri Sembilan, Bandar Sri Sendayan, which bags the “Sustainable Township Award Of The Year 2013″.

It has completed several prominent projects in Negri Sembilan, which include Pulau Impian, Anggerik Tenggara, Arowana Indah, Matahari Indah, Taman Intan Duyung, Pulai Perdana and Nusari Bayu. Meanwhile, this firm is looking forward to complete its upcoming projects, Sendayan Metropark and Sendayan Tech Valley, which are in Bandar Sri Sendayan township as well.

Artist’s impression of Palazzo 1, single-storey bungalow houses.

To date, this firm has completed 21,000 residential and commercial properties with a gross development value (GDV) of RM2.4bil, and the group’s combined GDV for Bandar Sri Sendayan and Bandar Seri Impian are estimated at approximately RM4bil.

Matrix Concepts is highly focus on its goal, which is to deliver high-end products ahead of schedule, offer excellent customer service and put together a team of committed and efficient workforce, besides maintaining the firm’s distinguished marketing strategies.

To celebrate the coming Hari Raya-cum-Merdeka celebration, there will be the Impiana Bayu 2 launching event to be held this August, which sees the latest offerings in the Bandar Seri Impian township. Visitors will be able to witness firsthand the beauty of this particular project, and discover if this is where they want to set up their dream home.

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Shafie says Australian property deals were profitable

PETALING JAYA: The four Australian properties purchased by the investment arm of Majlis Amanah Rakyat (Mara) were acquired at lower than market value, says Datuk Seri Mohd Shafie Apdal (pic).

The Rural and Regional Development Minister said the purchases between 2012 and 2013 had benefited Mara Inc, describing the deals as “productive and profitable”.

“All the properties were bought at lower than the market price at the time, and had profited Mara Inc significantly,” Mohd Shafie was quoted as saying in a news portal on Monday.

It was revealed that the property at 746 Swanston Street was purchased at A$41.8mil (RM120mil) despite being valued at A$43mil (RM123mil) on the market.

The Dudley International House was valued at A$26mil (RM74.52mil), but was bought at A$22.6mil (RM64.7mil).

The property in 21 Queen Street was bought in March 2013 for A$21.3mil (RM61mil), when its market price was listed at A$23mil (RM65.92mil).

The fourth property, also purchased at the same time, cost Mara Inc A$31mil (RM88.85mil) despite being valued at A$33mil (RM94.58mil) on the market.

All the properties had also appreciated in value by several million dollars in recent years, Shafie added.

He was responding to allegations by the National Oversight and Whistleblowers that the government subsidiary had overpaid for the properties purchased in Melbourne.

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Premium homes in the embrace of Mother Nature

Stylish and serene: The Marin is built to be one with the environment.

THE Marin by Plenitude Bayu Sdn Bhd, located on a ridge above Batu Ferringhi, Penang, offers a refreshing new point of view on luxurious living.

It consists of a pair of 21-storey towers, built to be one with the environment over four acres of prime freehold land, housing 149 apartments orientated to a northwest direction.

These ranges in size from 1,750sq ft to 1,850sq ft, with practical and functional layouts for sheer comfort, privacy and exclusivity, including a balcony for residents to soak in spectacular vistas.

With only four units per floor, each residence is essentially a corner unit with grandstand views of both the Andaman Sea and lush forest surroundings.

Set for completion in 2018, The Marin also comes with a one-acre facilities deck, meticulously landscaped and promising privacy, serenity and restorative calm.

Its gazebos, lawns, Jacuzzi, sauna, lounge pool and 40m-long infinity pool that stretches to the horizon, are where homeowners can de-stress or feel the healing touch of Mother Nature.

There is also an Active Zone, comprising two tennis courts, a fully equipped gym and a children’s playground.

Other amenities include a nursery, games room, two multi-purpose halls, an open plaza, a wading pool, surau and recycling room.

Security is also assured with its three-tiered system – which starts with advanced access card system at the main gates, main lobby, lift lobby and car park lifts.

Video intercoms connect all apartments directly to the guardhouse, while a comprehensive CCTV system surveys the main gates, lift lobby, car parks, perimeter fencing and guardhouse. Additionally, two security guards man each block, 24 hours a day.

Access to The Marin is highly convenient with the new 12km Tanjung Bungah-Batu Ferringhi paired road passing its door-step once complete in 2018, making commutes quicker and smoother.

Although cocooned in a tranquil sanctuary, the development is surrounded by a host of lifestyle amenities and conveniences, with everything that residents need all within close proxi-mity.

The Marin was voted Best Boutique Development – Hi-Rise at the Property Insight Prestigious Developer Awards 2015, as well as Best Interior Design for Show Unit at the My Favourite Interior Designer Award recently.

It sets new standards in luxury living by carefully and sensitively balancing the beauty of its location, with an uncompromising quality of build and range of amenities that deliver a whole new living experience.

Find out more at Plenitude’s booth (G11) at the StarProperty.my Fair 2015 at G Hotel and Gurney Plaza, this Thursday to Sunday from 10am to 10pm daily.

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Shareholders OK OSK merger with OSK Property and PJ Development, value RM1.7bil

BY WONG WEI-SHEN

Ong: ‘We will start immediately. The S&P (sales and purchase) will be completed very soon.’

KUALA LUMPUR: Shareholders of OSK Holdings Bhd have given the green light for the merger with OSK Property Holdings Bhd and PJ Development Bhd, valued at RM1.71bil.

The move will see OSK Holdings emerging as a first-tier property company in Malaysia.

“We will start immediately. The S&P (sales and purchase) will be completed very soon,” group managing director Tan Sri Ong Leong Huat said.

As a combined entity, OSK Holdings would have a total gross development value of RM13.3bil.

It will have landbank totalling 1,297 acres in Malaysia and and another five acres in Melbourne, Australia. The company has about RM1.5bil in unbilled sales that will provide a steady pipeline of revenue growth. It also has new projects coming on stream.

Despite market concerns of a slowdown in the property market, Ong noted that prices had been relatively stable.

“We didn’t see prices dropping anyway. The margins here are relatively low at around 10% to 20% unlike other countries where it’s 30% to 40%. We are still cheaper than the rest of the world even though we are semi developed,” he said. He added that “political bickering” had led to a lack of confidence among investors, which in turn resulted in the currency falling to an unnecessarily low.

“The economy has strong fundamentals compared with many other countries in this part of the world. There’s a reason for that but that reason won’t last forever. It will be overcome and we will be able to recover in the not too distant future. The Malaysian economy is generally quite stable,” Ong said.

He said the weakened ringgit could mean that its property was more attractive, especially to foreign buyers.

“For properties for foreign buyers, I think our ringgit is cheap, which makes it cheaper for people of countries with currencies that are relatively strong. I think that will also attract people to invest.

“Whatever goes down must come back up,” he said.

The combined earnings profile will see 40% from property, another 40% from financial services and the remaining 20% from hotels and building materials.

Apart from its 9.96% stake in RHB Capital Bhd, OSK Holdings has the money lending business, which according to Ong, is contributing a fair amount of profit.

Post-merger, he said, there would be no need for retrenchment of any staff. Rather, the company intends to look to increase its talent base, from 2,000 currently.

Under the exercise, OSK Holdings would acquire 72.4% of shares in OSK Property for RM346.4mil or RM1.95 per OSK Property share. It will also buy a 31.6% equity interest in PJ Development for RM223.64mil or RM1.56 per share.

It will also make a general offer to acquire the remaining shares and outstanding warrants in OSK Property and PJ Development from minority shareholders, which could result in RM1.14bil cash, assuming shareholders opted for cash. It expects to complete the whole exercise by September 2015.

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