Iskandar confident of RM30bil new investments this year

BY ZAZALI MUSA

NUSAJAYA: Economic growth corridor Iskandar Malaysia is confident of achieving the RM30bil target set for new investments this year based on its achievement since its launch nine years ago.

Iskandar Regional Development Authority (Irda) chief executive officer Datuk Ismail Ibrahim said it had already received RM3bil in new investments in the first quarter of the year. Irda is the regulatory authority mandated to plan, promote and facilitate the development of Iskandar Malaysia.

Ismail said the RM3bil new investments came from the manufacturing, services and property sectors and an official announcement on the breakdown of the investments would be made by the end of the month.

“The party is not over yet. The background music is still on and all stakeholders have to work even harder for Iskandar Malaysia to stay attractive and relevant,” Ismail said at a press conference yesterday.

He said this after giving a closed-door briefing on Iskandar Malaysia’s development and progress to Penang Yang di-Pertua Negeri Tun Abdul Rahman Abbas during his visit to Kota Iskandar here.

Ismail said it was not easy to attract strong interest from domestic and foreign investors to Iskandar Malaysia.

He said Irda and other stakeholders would not rest on their laurels as Iskandar Malaysia is facing competition not only from other economic growth corridors in the country but also from other countries in the region.

The other corridors are the Northern Corridor Economic Region, the East Coast Economic Region, the Sabah Development Corridor and the Sarawak Corridor of Renewable Energy.

“Although we have surpassed the investment target since our launch, more effort is needed to continue attracting investments to Iskandar Malaysia,” added Ismail.

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MBPJ to absorb GST on rental

The difference: (Left) the old council premises’ rental bill and (right) the new bill. In the new bill, the CBP is known as Value Added tax number will be listed. the bill is called ‘Invois Cukai’ (Invois Cukai)/Bill Pelbagai (Various Billing).

THE Petaling Jaya City Council (MBPJ) will absorb the Government Service Tax (GST) imposed on petty traders operating from rented council premises.

However, bigger commercial business that operates from the council premises will have to pay GST.

MBPJ public relations officer Zainun Zakariah said the council has decided to absorb the GST imposed on the rental of premises for smaller business operators for now.

“We do not want to burden the small traders such as those who run food business at the council food court. As a temporary measure, their GST will be bourne by the council. We are uncertain if this measure will be implemented for a long term,” she said.

The bigger scale business such as those operating at MBPJ commercial premises are not GST exempted.

“Bigger scale business operational from council assets such as the 8th Avenue, Subang Square and Kelana Square will be imposed with the 6% GST when they pay their monthly rental,” Zainun said.

She added the council is ready to notify each of the bigger business operators that are renting space from the council about the GST charge.

“The council’s Valuation Department will soon start calling them and provide them with clarification if required. However the bigger business operators are mostly well aware of the GST and they are prepared,” she said.
The council highlighted that council summons and assessment will not be imposed with GST .

“For example if the council dog licence is RM10 per year, we will not impose 6% on top of it,” she said.

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Red-carpet treatment

Developer of new Semenyih township launches bridge link to toll plaza.

Warm welcome: The red Carpet Bridge is aptly named for its red interlocking concrete pavers. It measures 118m in length.

 THE new township of Eco Majestic, a project of Eco World Development Group Berhad, has just seen the completion of its Red Carpet Bridge that is set to improve accessibility for residents and guests.

Aptly named for its red interlocking concrete pavers, the 118m-bridge is an integral part of a link road that connects the township’s north entrance to the Semenyih Toll at Exit 2102.

“The link road will shorten travelling time for those coming to Eco Majestic, as it will help motorists avoid much of the heavy traffic on Jalan Semenyih,” said EcoWorld president and chief executive officer Datuk Chang Khim Wah, adding that the link road would be ready by June this year.

According to Chang, the bridge was built at a cost of RM24mil and took about eight months to complete.

Joyous occasion: (From left) EcoWorld executive director Datuk Voon Tin Yow, Liew, Abdul Rahman, EcoWorld executive director Liew Tian Xiong and Chang at the launch of the Red Carpet Bridge in Eco Majestic, Semenyih.

 He added that it was completed well ahead of time.

Urban Wellbeing, Housing and Local Government Minister Datuk Abdul Rahman Dahlan and Eco World chairman Tan Sri Liew Kee Sin were present at the launch of the bridge.

Abdul Rahman said he observed Eco Majestic’s significant progress since it launched the project last year.

“I’m impressed with the scale and speed of the construction; the bridge is a clear indicator of that,” he said in his speech. He also commended the developer for living up to its timeless elegance theme.

He noted that the Kajang-Semenyih corridor was growing fast, making the area a sound choice for development plans.

As such, he advised developers to continue creating peaceful and harmonious communities as well as to focus on quality housing and commercial projects.

It’s official: Abdul Rahman (centre) signing the plaque to officiate the opening of the Eco Majestic red Carpet Bridge. With him are (from left) EcoWorld executive director Datuk Voon Tin Yow, Liew, Chang and EcoWorld executive director Liew Tian Xiong.

 During his welcoming address, Liew said Eco World was making great strides despite having been established for about only two years.

In addition to Klang Valley, Iskandar region and Penang, the company will be making its foray overseas.

“With projects set to take place in London and Sydney, Eco World will become a world brand,” he remarked.

Following the launch of Red Carpet Bridge, Chang said the company was now working toward opening the dedicated Lekas-Eco Majestic Interchange.

“It will be open by mid-2016 and those in the vicinity of Semenyih will also be able to use it.

“It is about 5km from the Semenyih Toll and will lead vehicles straight into the township’s commercial precinct,” he added.

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11th – 12th April 2015, Kuala Lumpur – Leading Malaysia estate agency, Hartamas Real Estate launches a collection of luxury apartments in Finsbury Park, North London which have a predicted annual yield of 4.5 – 5%.

The first phase of Aqua, a new build development by Fairview New Homes, will comprise 32 one, two and three bedroom apartments ranging from 458 sq. ft. to 948 sq ft with prices starting from £437,750.

In the heart of Finsbury Park, in North London, the development will benefit from excellent transport connections and picturesque surroundings.

Multi-million plans to enhance nearby Finsbury Park’s retail offering and public transportation will add further value to the development.

Robert Fraser, Managing Director of Fraser & Co, comments: “Finsbury Park is certainly on the up as investment from the council and independent developers demonstrates. Offering the best of both worlds with easy access to central London and beautiful green surroundings found at Finsbury Park, the area appeals to young families who work in the city. Regeneration plans for Finsbury’s commercial spaces are also creating more residential opportunities with a number of exciting new build developments already taking shape.”

Apartments which will complete from Q4 2015 onwards feature contemporary, stylish interiors with open plan design.

Oak flooring has been used throughout the living and dining areas while plush carpets give the bedrooms a luxurious feel. Kitchens come with high gloss units, stainless steel Zanussi ovens and fully integrated washer dryers and fridge freezers.

A three minute walk from Manor House tube station, Aqua residents will be able to reach central London in a matter of minutes as Piccadilly line services to Kings Cross and Oxford Street take just eight and 12 minutes respectively.

A little further on, Finsbury Park has both overground and underground trains across London with direct trains to Heathrow airport. With excellent connectivity, London’s top attractions and world-class universities will be on Aqua’s doorstep.

UCL, which placed 5th in the QS World University Rankings this year, and King’s College, one of England’s oldest and most prestigious university institutions, can both be reached in less than half an hour.

Prices for a one bedroom apartment start from £437,750, while two bedrooms are available from £514,999 and three bedrooms from £586,585.

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Pride of Picasso

Premier De Muara’s maiden property development on Jalan Ampang, Kuala Lumpur, will usher in a canvas of creative possibilities marked by deft strokes of architecture and design inspiration.

A breathtaking view of the city from the vantage point of the infinity swimming pool.

DRAWING inspiration from the artistic legacy of world famous Spanish artist Pablo Picasso, the Picasso Residence is envisioned to become a new masterpiece development to grace the area off Jalan Ampang in Kuala Lumpur.

The leasehold development with a GDV (gross development value) of RM600mil will be unveiled on a fresh canvas of creative possibilities spread across over 3.93 acres (1.59ha) of land.

Scheduled to be officially launched in Q2 2015 (second quarter of 2015) by an experienced management team, Picasso Residence will be developed by Premier De Muara Sdn Bhd, a subsidiary of PRG Holdings Bhd (formerly known as Furniweb Industrial Products Bhd).

Like the painstaking strokes of thought that goes into a masterpiece, Premier De Muara chief executive officer (property and construction) Steven Hooi Kok Hoe said that many man hours were invested by its key management team and architect towards the conceptualisation of the Picasso Residence development in terms of the various components of the facade.

“The concept behind Picasso Residence’s modern building design is inspired by the imagination of the influential artist, Pablo Picasso. It will be a structurally contemporary design masterpiece with the facade decorated in various shapes which will be enhanced and upgraded with green-compliant features and proper selection of green-certified materials where possible.

The world is literally your oyster at this respendant sunken lounge.

The development will take into account considerations like the wind orientation while avoiding the glare of the sun, with water features that will be included on the podium level for a temperature cooling down effect. There will also be green features implemented such as rainwater harvesting, the use of energy saving lighting and motion sensors at common areas.

“We are putting in a lot of effort to ensure that the artistic facade will be tastefully designed in various shapes in order to transform the building into the Picasso Residence. This development will mark the first property project for the group. While we were previously into manufacturing, the mandate to move into property development and construction was approved by our shareholders in 2014.”

Touches of brilliance will accompany and complement the maiden Picasso Residence development that will comprise the unique Type D dual-key units with built-ups of 2,407sq ft and 2,480sq ft respectively. Each dual-key unit will be given three car parks.

The dual-key units will enable purchasers to have two units under one strata title. All units will feature private lift lobbies that will take one directly to one’s unit.

Those opting for the smaller Type A units with a built-up area spanning 1,013sq ft will be given one car park bay per unit. There will be 134 Type A units.

A commanding artist’s impression of Picasso Residence from a distance.

All 134 of the larger-sized Type B units with a built-up area of 1,375sq ft will be allocated with two car parks per unit.

Each of Type C’s 136 units will come with a built-up area of 1,668sq ft and will be provided with two car parks respectively.

The maintenance fee will be priced at 40 sen per sq ft inclusive of sinking fund.
Drawing a comparison with other surrounding developments, he vouched for the competitive pricing of the units ranging between M980,000 and RM2,827,400 or from as low as RM950 per sq ft. According to him, other surrounding developments are priced anywhere from approximately RM1,100 per sq ft to RM1,200 per sq ft.

“The unique selling point of Picasso Residence will lie with its abundant water features that will occupy over 60% of the development. A high ceiling measuring 11ft will also grace the double volume lobby area complemented by a double volume car park,” he said.

Greenery will cover 30% to 35% of the project’s footprint while the podium level on the fourth floor where the clubhouse is situated will be complemented by a 50 metre (164 ft) swimming pool and wading pool.

Talk about a sunken gymnasium with a scenic view of the city.

There will be two sunken gazebos, allowing residents to appreciate the panoramic view of the Kuala Lumpur skyline on this facility area. The scenery can also be enjoyed from the vantage point of the sunken gymnasium, another novel feature of Picasso Residence.
The night scene is further played out with the glittering vista of the city come evening time.
Residents will also be able to make use of the many facilities available, including an open library and multifunction rooms as well as the community gathering hall.

The semi-furnished and studio units will be fitted with air conditioners in all the rooms and halls complemented by a kitchen cabinet, hob and hood, built-in oven and an island unit besides a microwave, washing as well as dryer.

“The unique selling point of the dual-key unit is that while the second unit normally consists of only a bedroom in other developments, our units will be fully fitted with a kitchen as well. The layout of each unit will be functional and well thought-out. The smaller units are ideal for couples while the larger units will be perfect for expatriates and families with children as well as investors,” he summed.

A comprehensive three-tier security will ensure safety within the development. Each unit will also be equipped with a Smart Home System backed by alarm features and panic button capabilities.

Make a grand entrance into Picasso Residence.

The 38-storey Tower A and Tower B will feature a low density count of eight units and six units per level respectively to ensure greater security and privacy.

Tower A will have a total of 270 units while Tower B will feature 202 units. Each unit will come with its own private lift lobby.

A Sky Park/Sky Garden and Sky Pavilion are some of the exciting highlights that will be included on the rooftop level.

Although the property market may be showing some effects of cooling off, its first private by-invitation-only preview has indicated otherwise – having already attracted approximately 2,000 registrants. The overwhelming response from the registrants reflects the strong support coming from both local and foreign buyers.

“Some are purchasing the units for investment purposes while other buyers are upgrading from smaller to larger units, and from smaller to larger investments. Then, there are businessmen and professionals who work in Jalan Ampang and the surrounding Kuala Lumpur City Centre, not forgetting foreigners and expatriates who relish the thought of living adjacent to the various embassies as well as nearby international educational institutions,” he said.

He also anticipated a strong rental market demand due to the fact that there are over 70 international embassies around Jalan Ampang and its vicinity, which is also situated close to the oil and gas hub as well as the financial centre of the Tun Razak Exchange (TRX).

(From left) Premier De Muara chief financial officer Tam Yet Shyan and CEO Hooi posing next to a model of Picasso Residence. – Photo by RAJA FAISAL HISHAN.

Location, location, location

A key highlight of the development lies with its strategic location situated just a leisurely five minutes’ stroll away from the LRT (light rail transit) station.
Since the development is located within a 3km radius from the Petronas Twin Towers, a short drive of about 15 minutes is all it will take to reach Kuala Lumpur Sentral while only about eight minutes is needed to arrive at the Kuala Lumpur City Centre (KLCC). Private hospitals, including Gleneagles Kuala Lumpur and the

HSC Medical Centre, are also located within a 1km to 2km radius.
Set to be one of the most outstanding landmarks situated off Jalan Ampang as well as Jalan Jelatek, Picasso Residence is within adjacent distance to the Great Eastern Mall with its many dining options and recreational offerings.

The Sayfol International School is also just a 10 minutes stroll away.

The unique selling point of the development lies with its strategic location that boasts easy access to various major highways that further position it as a good investment and multinational hub.The development which is located within Zone 2 of Kuala Lumpur City boasts excellent connectivity via Akleh (Ampang Kuala Lumpur Elevated Highway), the DUKE (Duta-Ulu Klang Expressway) and MRR2 (Middle Ring Road 2).

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Mah Sing forges ahead with launches in 2015

KUALA LUMPUR: Mah Sing Group Bhd will not be slowing down on launches for ongoing projects in order to achieve its RM3.43 billion sales target this year.

“We forecast that GST (goods and services tax) will have some effect on the property, but we feel that we have already planned properly and [the] RM3.43 billion sales target is achievable,” Mah Sing Group general manager of sales and marketing for commercial property Winston Tan told The Edge Financial Daily recently.

Mah Sing recorded RM3.43 billion sales in financial year 2014 (FY14) and announced the same sales target for FY15. “We are aggressive, but we don’t want to be so optimistic about our objective in 2015,” said Tan.

Mah Sing has 12 launches scheduled this year. One of the launches is in its D’sara Sentral development, which is situated along Jalan Sungai Buloh, Selangor. The developer will also launch its D’Residenz Suites’ Towers 2, 3 and 4 of serviced residences, where units have built-ups from 809 sq ft and are selling from RM538,000. Tower 1, launched in September last year, has achieved 80% take-up. Tower 2, being soft-launched on Sunday, has already achieved 40% pre-registration. “Towers 3 and 4 will be launched from the third quarter. We are still in the planning stage, but the units will be of a dual-key concept,” Tan said. D’Residenz Suites will have a total of 938 units, with more than 40 indoor and outdoor recreational facilities such as a swimming pool, yoga and tai chi decks, viewing deck and floating gym.

D’sara Sentral is an integrated development with small office/versatile office (SoVo) units, lifestyle shops and serviced residences that sit on 6.58 acres (2.66ha) of land and has an estimated gross development value (GDV) of RM938 million. The development comprises six buildings, where one building will feature 105 units of 1- and 2-storey retail shops. Another is a tower block called D’Sovo Suites with 322 SoVo units. The last four blocks will house the serviced residences.

D’sara Sentral is located opposite the soon-to-be-completed Kampung Baru Sungai Buloh mass rapid transit (MRT) Station, the second station on the Sungai Buloh-Kajang MRT line. There will be a covered walkway linking the development to the MRT station.

Tan said that Mah Sing has substantial land bank that will keep them busy for some time. “Mah Sing has 3,822 acres of land right now, which could last us about eight to 10 years. Of course, if there is any suitable and potential land, we will look into it,” said Tan. He added that Mah Sing will be focusing on mid- to high-end developments in four focus areas, namely the Klang Valley, Johor Baru, Penang and Kota Kinabalu, in the near future.

Tan said he also believes that the demand for affordable houses remains strong, and the focus for this year is to ensure affordability of Mah Sing’s products. About 84% of Mah Sing’s planned residential product launches are priced below RM1 million, 71% below RM700,000 and 44% below RM500,000.

Meanwhile, Mah Sing will be launching the final two condominium blocks of Savanna Executive Suites in Southville City@KLSouth this year. Savanna Executive Suites has built-ups that range from 950 sq ft to 1,017 sq ft with prices starting from RM350,000.

Southville City is a mixed township in Bangi that spreads across 428 acres with a GDV of RM8.31 billion, comprising commercial hubs and retail shops, corporate and boutique office towers, gated and guarded stratified and landed residential properties, neighbourhood retail shops and amenities such as schools, a clubhouse and urban parks.

As at Dec 31, 2014, Mah Sing’s unbilled sales combined with remaining GDV is approximately RM65 billion, while balance sheets remained strong with a cash pile of RM639.2 million and a net gearing at 0.36 times.


This article first appeared in The Edge Financial Daily, on March 6, 2015.

UMLand zooms in on townships, niche projects

“Iskandar Malaysia will continue to be the main driving factor in Johor and the influx of domestic and foreign investors will create demand for commercial and residential properties in the region,’’ said Chia.

NUSAJAYA: United Malayan Land Bhd (UMLand) is focusing on townships and niche property developments in view of market demand for such properties, according to group chief executive officer Datuk Charlie Chia Lui Meng.

“We see the two segments giving good growth prospects and we will continue to explore the opportunities,’’ he told a press conference after the signing of agreement with ONYX Hospitality Group and The Ascott Ltd here yesterday.

Under the agreement, ONYX will manage the Shama Medini serviced apartments, the first Shama property in Malaysia.

The Ascott will manage Citadines Medini Nusajaya, the first Apart’hotel in Nusajaya – The Ascott has over 26,000 operating serviced residence units in over 200 properties worldwide.
The serviced apartments are located within the UMCity Medini Lakeside – a multi-phased mixed development in Medini with a gross development value of RM1bil.

Among the components in the project on a 2.02ha site, which is expected to be completed in the third-quarter of 2018, are an office tower, two internationally-branded serviced residences, a hotel, a lakeside shopping centre and business suites.

“Iskandar Malaysia will continue to be the main driving factor in Johor and the influx of domestic and foreign investors will create demand for commercial and residential properties in the region,’’ said Chia.
He said demand for landed properties in Iskandar Malaysia was still good and this was reflected by Japanese investors purchasing bungalows at the company’s Bandar Seri Alam in the eastern gate development zone of Iskandar Malaysia.

Chia said the bungalows were sought after by the Japanese as they were very expensive in Japan, adding that many of the buyers had expressed interest to move to Iskandar Malaysia.

“We have hot weather the whole year and golfing is also cheap in Malaysia unlike in Japan where it is expensive and you have to book years before you can even tee off,’’ he said.

UMLand currently has mixed township developments namely Bandar Seri Alam, Taman Seri Austin and Taman Seri Albion – all strategically located within Iskandar Malaysia, Johor and Bandar Seri Putra in Bangi, Selangor.


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