Prasarana: Ampang LRT line extension project on track

Posted on July 2, 2015  | 915 views |  Topic : Featured, Property News.

Light rail vehicles will be used for the Ampang Line.

KUALA LUMPUR: Prasarana Malaysia Bhd maintains the RM1.1bil Ampang Light Rail Transit extension project is on track and phase one will start on Oct 31, 2015 as scheduled. Prasarana group director of project development, Datuk Zohari Sulaiman said the various stakeholders including contractors were committed to completing the LRT Line Extension Project on time.

“For Phase 2, the completion date for the project is on March 31, 2016. We are committed to deliver the project on time. There’s no issue of delay,” he said.

Zohari, who is also CEO of Prasarana Rail and Infrastructure Projects Sdn Bhd (PRAISE), said the overall completion for Phase 1 — which involves the opening of four new stations for the Ampang Line — was already at 92.58%.

He expressed confidence of meeting the timelines. The four new stations – Awan Besar, Muhibbah, Alam Sutera and Kinrara BK5 along the Ampang LEP — will be opened for full service on Oct 31.

The remaining stations under Phase 2 are nearly 70% complete, overall, he added.

Zohari added the new trains for the Ampang LRT Line were also being tested progressively.

He was responding news reports which quoted George Kent (Malaysia) Bhd Chairman, Tan Sri Tan Kay Hock the company expected a year’s delay in the Ampang LRT extension project, which was scheduled for completion in March next year.

 

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MRCB gets RM1bil Bukit Jalil stadium job

PETALING JAYA: Malaysian Resources Corp Bhd (MRCB) is tipped to refurbish the various sports facilities at the National Sports Complex (NSC) in Bukit Jalil, including the 17-year-old Bukit Jalil Stadium, which is the main venue for sporting events in the country.

Sources said the refurbishment work could cost up to RM1bil and in return, MRCB would get parcels of land in the vicinity of the NSC for development if the proposal is approved.

Apart from the refurbishment of the various facilities, the job will also involve building a sports museum and hall of fame to commemorate sporting greats.

“MRCB has submitted the proposal to the Youth and Sports Ministry and is awaiting the results. It is for the refurbishment of a few stadiums,” said a source.

The buildings in the NSC include the Bukit Jalil National Stadium, Putra Stadium, National Hockey Stadium, National Aquatic Centre and National Squash Centre.

The UEM-Renong group built the facilities in the 90s for the Commonwealth Games in 1998. They have not seen much refurbishment since then.

Sources said that the development of the land surrounding the stadium would be done after the refurbishment works have been completed. “The land MRCB would get in return for the refurbishment and building of new infrastructure would depend on the cost of the job. That will be the next phase of the project,” said the source.

A spokesperson from the Youth and Sports Ministry confirmed that plans to refurbish the stadiums in Bukit Jalil were in the pipeline.

The spokesperson, however, declined to reveal if the stadiums would be confined to just those within the NSC.

“We will reveal more information very soon,” the spokesperson said.

A property developer with a project in Bukit Jalil said that land was hard to come by, especially near the NSC.

“Not many parcels are for sale. It is strategic and has good access,” said the developer who declined to be named.

Among the companies with land bank in the area near the Bukit Jalil sports complex is Berjaya Land Bhd, which has developed a golf course with bungalows.

The bungalow parcels are going for about RM350 per sq ft.

One of the biggest developers in that area is Malton Bhd, which has 50 acres to be jointly developed with Ho Hup Construction Bhd. The plan is to build a large shopping mall called Pavilion 2.

There are several smaller developers that have launched apartment buildings that are being sold at more than RM600 per sq ft.

MRCB, after seeing a change in its management that is now headed by group managing director Tan Sri Mohamad Salim Fateh Din, has become one of the more aggressive property developers and infrastructure builders.

The strategy adopted by Salim is to emphasise on cash flow and enhance the group’s assets that are providing recurring income.

In this respect, it injected Platinum Sentral into Quill Capita Trust Bhd, a real estate investment trust (REIT) company, last year for shares and cash in a deal valued at RM740mil.

After that exercise, MRCB has become the single largest shareholder of the REIT that is now called MRCB-Quill REIT Bhd and it hopes to benefit from the steady dividend income.

MRCB also owns a highway in Johor called the Eastern Dispersal Link that leads to the Customs, Immigration and Quarantine Complex before connecting to the Causeway into Singapore.

MRCB announced last week that it had bagged three construction jobs worth RM485mil in Desaru Coast, Johor, from Destination Resorts and Hotel.

The projects involve a RM61.4mil conference centre, the 386-room Desa Desaru hotel valued at RM212mil and the 275-room Westin Desaru Resort worth RM211.6mil, said MRCB, adding that the construction period of the projects would be between 19 and 21 months.

According to a report, the more jobs are expected to be added to MRCB’s order book, as it is set to launch a mixed development with an estimated gross development value of between RM1.2bil and RM1.6bil next year.

The first phase of multi-billion-ringgit Desaru Coast features four premium resorts – Aman Country Club and Aman Villas, Datai Desaru, Sheraton Resort and Plantation Hotel.

The whole Desaru Coast development, stretching 17km over 3,900 acres, is estimated to take 15 to 20 years to complete.

For its first quarter ended March 31, MRCB’s net profit jumped to RM237.86mil from RM11.99mil in the previous corresponding period, while revenue jumped to RM404.19mil from RM204.65mil previously.

The improved earnings was due to higher revenue contribution by all the business units.

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OSK Property joins Forbes Asia’s list

OSK Property Holdings Berhad was honoured on Forbes Asia’s Best Under a Billion 2015 when it made the cut as one of the 200 high-performing Asia-Pacific public companies with annual revenue between US$5 million (RM18.8 million) and US$1 billion.

The Forbes Asia’s annual “Best Under A Billion” lists the most dynamic publicly traded companies with positive net income for at least a year. From a universe of 17,000 companies, the candidates were screened based on profitability, growth and modest indebtedness. The selected 200 companies in the Forbes Asia’s annual “Best Under A Billion” are those that produced the highest sales and earnings growth in the past 12 months and over three years, and for the strongest five-year return on equity.

“We are pleased to be recognised as one of the Asia’s rising companies and this validates OSK Property’s position as one of the leading developers in the country’s competitive real estate industry, where we have been inspired by so many of our industry peers,” said OSK Property executive director Ong Ju Xing.

Ong added, “OSK Property is humbled by this ranking and this will continue to encourage us to stay firm to our commitment to constantly endeavour to improve and deliver value to our customers. We dedicate this accomplishment to our customers and our team that has relentlessly poured in their support and commitment throughout the years.”

Among the 11 Malaysian-listed firms that featured under the prestigious ranking, OSK Property is one of the two property developers that made it to the list.

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Luxury within your grasp

Affordable upscale condo project to open for registration at coming fair

Granito @ Permai by BSG Property is strategically located in Tanjung Bungah, Penang.

GRANITO @ Permai is the latest development by BSG Property consisting of upscale yet affordable condominiums in Penang.

Located in the thriving Permai Village township in Tanjung Bungah, it comprises twin 49-storey towers housing 980 residential units all sized at 864sq ft with three bedrooms.

The company’s business development manager and sales and marketing department head Chong Hock Aun said the residences would have modern aesthetics with clean, sleek lines and refined interiors. and unobstructed views of the Andaman Sea from their lofty abodes.

They will also be pampered by fullfledged lifestyle facilities such as a swimming pool, gymnasium, library, outdoor and indoor play areas, lounge and landscaped garden.

The homes are also embraced by lush greenery and have round-the-clock security for residents’ peace of mind.

Granito will be situated right beside the Tunku Abdul Rahman University College, with a host of conveniences and services at its surroundings.

In close proximity is the Tenby Schools Penang, financial institutions, healthcare facilities, retail as well as food and beverage outlets.

Penang’s famed Batu Ferringhi beach is also a short drive away, as are the Tanjung Bungah market, Tesco Tanjung Pinang, Straits Quay Retail Marina and Permai Adventure Nature Park.

Visitors to the fair can also find out more about BSG Property’s other offerings like the Mira Residence, a pair of 32-storey highrise towers with 322 elite residences, also in Permai Village.

Set for completion in 2016, its units come in nine unique layouts sized between 1,352sq ft and 3,642sq ft, and offer amazing views in every direction.

Buyers seeking a more central location in Penang can consider Middleton, which comprises two 26-story residential towers in the affluent neighbourhood of Minden Heights.

Featuring contemporary architectural design, it houses units sized at 1,409sq ft, with several versatile layout choices available. There are only five units per floor, ensuring a low-density environment.

Slated for completion in 2019, it will have extensive resort-style facilities along with panoramic views of nearby hills and the island’s cityscape.

It also has swift access to the Penang Bridge, Bayan Lepas FIZ and George Town.

There are also limited units of Oakridge – which was ranked No. 1 in Malaysia under the Construction Quality Assessment System for superior workmanship – still available.

The three-storey semi-detached homes in Pantai Jerejak, Sungai Nibong, feature exquisite finishes throughout their spacious and practical interiors, high ceilings in the living and dining areas, and abundant space for outdoor landscaping.

Units have a gross floor area of 3,380sq ft with 4+1 bedrooms and six bathrooms, and have generous windows that facilitate ample natural lighting and ventilation. They are already completed with Certificate of Completion and Compliance obtained.

All the developments are freehold. For more information, visit the company’s two sales galleries, The Galleria and Permai Galleria.

Otherwise, head to BSG Property’s booth (M1 & M3) during the fair at G Hotel and Gurney Plaza, Penang, from July 9 to 12 between 10am and 10pm daily.

The Star Property Fair, now into its 13th year, is the grandest property showcase in the northern region. This year, there will be more than 40 exhibitors participating.

There will also be talks and forums conducted by specialists in their respective fields to provide visitors with useful information on various property-related topics.

Admission is free and visitors stand a chance to win more than RM100,000 worth of prizes including five tablets and handphones daily.

Residents of Granito will enjoy full-fledged lifestyle facilities.

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Negri to have its own Central Park

Green lung planned to be like the ones in London, New York and Paris

SEREMBAN: Seremban will have its very own sprawling Central Park similar to the famous public parks which dot the landscapes in the world’s top cities such as London, New York and Paris.

The 400ha park will form an integral part of the Malaysian Vision Valley (MVV), a 108,000ha multi-billion ringgit project, which will be carried out over the next 30 years.

Mentri Besar Datuk Seri Mohamad Hasan said the Central Park would be similar to the ones in the famous cities where people would be able to mingle, exercise and even carry out recreational activities.

“It will be a green lung where people can go for their walks or to just enjoy the outdoor environment,” he told reporters after chairing the state exco meeting.

Mohamad said that despite having the Central Park, developers would still be required to reserve space for smaller parks in their projects. Citing an example, he said in a 40ha development, a 4ha space must be alloted for recreational parks and another 4ha to build amenities.

However, Mohamad refused to divulge where in the MVV the Central Park would be located. (The MVV will straddle the SerembanPort Dickson-Nilai districts).

Mohamad said he would also brief Prime Minister Datuk Seri Najib Razak Tun Razak on the private sector-driven MVV on July 10.

“The MVV will be a massive development project which will among others have its own commuter and tram services, education and industrial and sports clusters.

“We are planning a city which will rival Kuala Lumpur and be a more attractive place to live and work in,” he said adding that mutlinational companies will also be encouraged to set up operations here as they would be able to build their R&D and campus facilities in the same place.

On a separate matter, Mohamad said the Negri Sembilan government was against the move by the Housing and Local Government Ministry to impose a RM1,000 fine on households that fail to separate their garbage from Sept 1.

He said the people were not prepared for this as the level of awareness on garbage separation and the benefits of recycling was found to be wanting.

“I am sure there are people who will be unhappy with us for opposing this. But we have no choice because we deal with the people every day and we know they are not prepared for this,” he said.

The mandatory practice of separating households garbage will be implemented in Johor, Malacca, Negri Sembilan, Pahang, Perlis, Kedah and the Federal Territory from Sept 1.

Notices will be issued and a maximum compound of RM1,000 will be imposed on those who flout the rule from next year.

Under the move, each household must separate their recyclable items in separate transparent plastic bags while regular wastes such as food and organic wastes can be placed into plastic bags.

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Big plans for the big city

Developer sets sights on prime areas of KL

M101 Holdings founders Chua (left) and Yap aim to launch 10 projects in Kuala Lumpur.

M101 Holdings Sdn Bhd, or Meridian 101 Degree, was named after Malaysia’s coordinates back in 2012 when its founders, Datuk Seth Yap Ting Hau and Datuk Chua Eng Pu, decided to enter the property market officially as a developer.

Despite being the new kids on the block, M101 Holdings is making waves in the property market with its plan to introduce a series of “small footprint, big statement” developments based on the concept of metropolitan living.

With projects M101 Dang Wangi and Bukit Bintang underway, M101 is set on advancing the real estate industry with a concept that it thinks will be able to draw foreign investors.

The founders had been involved in the real estate industry for a good numbers of years before the formation of M101 and the decision to enter the market officially as a developer materialised when both Yap and Chua saw the opportunity for growth in property development after the market rebounded in 2010.

Chua has 19 years of experience in property development and construction.

He was appointed managing director of Vision Development Concept Sdn Bhd in 1999 and managing director for Kejuruteraan Janaperak Sdn Bhd and Vision Contracts Two Sdn Bhd in 2000.

He successfully launched and completed flagship projects such as Anjung Tiara, Desa Tiara, Summit City, Desa Residensi Condominium, Taman Pagoh Indah, and Taman Jus Perdana to name a few, in conjunction with other prominent property developers in Malaysia.

Yap, on the other hand, graduated from the University of Liverpool in 2001 and was admitted to the Bar in England.

Upon his return to Malaysia, he was admitted to the Malaysian Bar in 2010.

In more than a decade practicing law, Yap has dealt with most of the banks in Malaysia through his specialty in property law.

He has also developed relationships across the retail and commercial property sectors around the region.

In 2012, the duo joined forces and founded M101 Holdings.

“The decision came after we saw an opportunity to build small, boutique buildings in the heart of Kuala Lumpur, a niche other developers were ignoring,” Chua said.

The company now has four projects underway in Kuala Lumpur as of this year.

“We see opportunities in small undeveloped parcel of lands in the city centre. The metropolitan living conceptualised by M101 encourages foreigners to invest in Malaysia.

“We rely on our instinct to make new markets or find untapped value in existing ones,” said Yap.

With plans for projects worth Rm4bil in gross development value over the next three years, the company aims to launch 10 integrated commercial and retail developments featuring small, flexible offices, hotels, retail space and lifestyle amenities.

“We are looking at areas such as KLCC, Bukit Bintang and Raja Chulan, which draw tourists,” said Yap.

The company’s latest project will be located along Jalan Tun Razak, and will be “something different from other developments” in the area, according to the duo.

“We are also securing land along Jalan Yap Kwan Seng, in Kampung Attap and Kampung Baru. So, the next few years will be very exciting for us. We hope to complete all our projects by 2020,” said Yap.

A rendering of M101 Holding’s proposed project in Bukit Bintang, which is popular with tourists.

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Shaping a vibrant and self-sustaining community in Subang Jaya

This urban sprawl features a gorgeous body of water that is snugly tucked in between commercial and residential components.

Tropicana Metropark redefines seamless living through its 9.2- acre Central Park.

“This is like a dream come true.”

That’s how Tropicana Corp Bhd group managing director Datuk Edmund Kong passionately sums up Tropicana Metropark. So, why this particular sentiment? For starters, it sees the Tropicana DNA, which focuses on accessibility, connectivity, innovative concepts and designs, generous open spaces, amenities, facilities, multi-tiered security and quality, materialising in a unique way.

Tropicana Metropark will take up 88 acres of freehold land in Subang Jaya, and it is taking shape as we speak. People and lifestyle always come first, and are integral to the masterplanning process in any Tropicana development.

“We started with the park. Most other developments start planning the buildings, and the leftover land then becomes a park or open space. We allocated 9.2 acres to be the focal point of this development,” says Kong, who lights up at the mention of the park.

Tropicana Corp Bhd group managing director Datuk Edmund Kong.

Meaningful spacesKong’s credo is not only that of a humanist, he’s also an environmentalist. Kong strongly feels that the park has to be an active park that people can get to within minutes, and one that encourages healthy living.

The RM20mil iconic contemporary urban park will feature a man-made lake, a bio-filtration system, pedestrian promenade, recreational zones, 1.3km jogging path, and food and beverage (F&B) strip for al-fresco indulgence.

Kong enthuses, “What’s missing in today’s living, working and shopping environment is a place where people can mingle. It is not only about providing views for people to enjoy, but a place where people can really participate in and be part of.”

Lifestyle-inspiredMetropark is an abbreviation for “Metropolitan living in the park” and it is already garnering awards prior to completion. The development is surrounded by mature areas such as Subang Jaya, Damansara and Klang. To Tropicana, it is a golden opportunity to transform an industrial site into a space that provides seamless living.

Kong shares, “If you look at Subang Jaya, there is a lot of young population. Families have grown, and so have their children. So, where can they live? This is the perfect place for them.”

A stylistic approach based on respect for human beings has allowed Kong to overcome challenges and notions that set the usual functionality at odds with quality living, and instead build homes and lifestyle that are first and foremost about their owners. The satisfaction comes from how much occupants enjoy the lifestyle and have a good life in them.

GEMS International School will be ready for enrolment by September 2017.

Upfront accelerationPhase 1 of its residential portion, Pandora Serviced Residences, is 98% sold, while Paloma Serviced Residences & Courtyard Villas is about 80% sold. Pandora will be completed in mid-2016, while the park will be completed this year.

“Shading is very important. That’s why we try to complete the park a year ahead of the handover of keys. The trees will be more mature and provide a cooler environment,” Teh explains.

The same thoughtfulness is applied throughout. They have recently signed an agreement with GEMS International School and the school will be completed in 2017. There will also be a shopping mall and a medical centre within the development.

The project’s executive director Daniel Teh adds, “The school will be ready for enrolment by September 2017. All these are timed. When Paloma home buyers get their keys, the school is open and people can register their children with the school.”

The development will also be served by a network of highways and expressways, such as Federal Highway, Shah Alam Expressway (Kesas), Kemuning-Shah Alam Highway (LKSA), Guthrie Corridor Expressway (GCE), New Klang Valley Expressway (NKVE), Damansara-Puchong Expressway (LDP), and an upcoming RM106mil flyover that will directly link Tropicana Metropark to the Federal Highway. This access will be completed at the end of 2016 and it will serve the community of Subang Jaya and USJ as it goes all the way to USJ 3.

Tropicana is also looking into providing a walkway-link from the development to the nearby KTM station. Just one stop away is the interchange station, where one can take the light rail transit (LRT) to the town centre.

A new RM106mil flyover from Federal Highway will provide connectivity to Tropicana Metropark and its neighbouring areas.

A park at your doorstepIn today’s increasingly dense townships and living arrangements, the need to elevate lifestyle and convenience is commonplace. Kong does not only address such issues, he brings them to live the Tropicana way.

The Central Park has a reflexology zone, children’s playground, and more, in different pockets. They are all linked by a wide 2.6m walkway. Access to residences will be controlled by access card and residents need not pass by any guardhouse to get to the park or commercial area.

“Compliance for a walkway is about four to five feet. Ours is about nine feet. If you build a walkway where two persons can’t pass through at the same time, then how can we encourage people to cycle?

“Just imagine. To get to the shopping area, you can just walk or ride a bicycle there. That’s reduced carbon footprint. And you can get to the park by taking the shuttle lift down,” Kong elaborates.

The park also features a bio-filtration system and windmill to agitate the water from one end to the other. For filtration, Tropicana Metropark will incorporate wetland plants and fishes, rather than resort to using chemicals.

This windmill-green energy concept seems to be a first for an integrated development in Malaysia. Nature differs according to a place. So, Teh studied the site closely, factoring in such things as the amount of light, water and trees, and even the amount of wind.

8.54 acres of commercial development will be launched in the next quarter of 2015. First component to be launched will be the Flexi Suites.

Commercial viabilitySome of the commercial areas will enjoy excellent frontage as it faces the main road. One can also get from one end to the other through a meandering boulevard. The ingenious yet simple curves of the development offer a welcome timeout from the maelstrom of urban life.

“We want to make sure that the F&B outlets open to the park and that it is seamless.

“It is also important that office spaces are not just confined to four walls. Some loft units (designer suites) come with a balcony that faces the park. So, people can have brainstorm sessions or take a break there,” Kong gestures enthusiastically as he explains.

The lifestyle conveniences and amenities help instill a greater sense of belonging, while elevating businesses’ prestige. The commercial component will also introduce card-access system to the car park, along with the provision of concierge services.

The next launch is Phase 1B, with a gross development value of RM1bil. There will be three corporate office towers, flexi suites, small office units, loft units, and two- and three-storey retail shops. The first commercial component will be the Flexi Suites, where most units will face the Central Park. With indicative prices starting from RM350,000, it will be ideal for young professionals seeking lifestyle-driven property in Subang Jaya.

Phase 2a will be the next block of serviced residences. Both phases will be launched in the second half of the year.

The barrier-free Central Park is the green heart of Tropicana Metropark.

What you see is what you getIt’s difficult to fathom that the award-winning show gallery used to be a factory. The contemporary take on the previous factory is displayed to good effect. It is a sample of how Tropicana Metropark will transform close to what it promises.

There’s also an elevated viewing deck for you to view the work-in-progress. The park is already 80% complete and you can judge the park’s proximity to both residences and commercial area for yourself.

The consumers’ needs become essential aspects in the creation of this development. It is designed in such a way that reveals all – and that’s the real expertise of Tropicana. It goes beyond the visual aspect. It provides an experience that resonates.

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