Setiatiwi Group to launch final phase of Taman Adenium in Bukit Beruntung

KUALA LUMPUR: Setiatiwi Group, is launching the final phase of its 16 acre (6.5ha) Taman Adenium project located in Bukit Beruntung, Selangor tomorrow. The group is an associate company of Sunshine City Development Sdn Bhd.

The final phase launch will feature 58 units of 20ft by 60ft 2-storey link houses covering over four acres of land. The two previous phases which featured 137 units of 2-storey link houses have been fully developed and sold according to Setiatiwi chief executive officer Dr Lee Yuen Pen.

“Our phase 1 and 2 launches received an overwhelming response from the public, with take-up rates of 100% on the first day of the launch. This is due to our attractive prices and strategic location, which is less than 1km from the toll on the North-South highway (Expressway),” commented Lee in a written response to The Edge Financial Daily.

Lee said that the target group for the houses would be first-time homebuyers currently residing in Rawang, Kepong and Petaling Jaya.

“The average cost of the intermediate units is RM296,391 for bumiputera and RM318,700 for non-bumiputera. This makes it affordable for the middle-class income group.The average built-up is 1,600 sq ft,” Lee said.

Lee said that the Taman Adenium units were priced competitively lower compared with developments in surrounding areas such as M-Residence Rawang by Mah Sing Group Bhd and Emerald Garden by GuocoLand (M) Bhd, which are selling at around RM290 psf.

He added that the group has decided to launch the remaining units of the development now so as to keep the price of property affordable in view of the implementation of the goods and services tax next year where a slight increase in development cost is expected.

The company has completed several developments in Bukit Beruntung such as Taman Tanjung and Taman Adenium Business Park.
An earlier story on Bukit Beruntung by City & Country in The Edge weekly (Dec 1 to Dec 7) reported that property values in the area have been steadily rising as general sentiment towards the area continues to improve. The expansion of a  Perusahaan Otomobil Kedua Sdn Bhd, or Perodua, plant and Tesco Stores (M) Sdn Bhd distribution centre in the area have helped improve its economic activities.

An artist’s impression of Taman Adenium’s 2-storey link houses. Photo by Setiatiwi Group

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Tan & Tan unveils RM180m Park Manor

KUALA LUMPUR: Tan & Tan Developments Bhd has launched the 7.88 acre (3.2ha) Park Manor in its Sierramas residential enclave in Sungai Buloh, Selangor on Dec 15.

Park Manor, which has a gross development value (GDV) of RM180 million, comprises 41 3-storey villas with built-ups ranging from 5,000 sq ft to 7,000 sq ft. The villas are priced between RM4 million and RM5.2 million, and are expected to be completed by end-2015.

“We believe that there are significant opportunities for the Sungai Buloh area. With the development of Kwasa Damansara and the (proposed) mass rapid transit (MRT) station, we expect to see greater interest in the area as accessibility to it increases,” said Tan & Tan executive director Teh Boon Ghee.

Kwasa Damansara is developed by Kwasa Land Sdn Bhd, a wholly-owned subsidiary of the Employees Provident Fund.

The villas have five to six bedrooms and six to seven washrooms, with kitchen and dining areas at the ground floor and an internal lift. The internal lift fits four with a maximum capacity of 300kg. The bathrooms are designed with gentle slopes, allowing wheelchair access.

“We expect to see strong interest from local buyers and residents in the Sungai Buloh vicinity,” said Tan & Tan head of sales and marketing Fern Chong.
Among the nearby amenities are an international school, convenient stores, a 1km jogging path and a clubhouse. The clubhouse features a 25m lap pool, wading pool, a playground, and a function room that accommodates 40.

“Over the years, Sierramas has become a niche for luxury homes and continues to be one of the most sought after addresses in the vicinity. We believe that with it being the first stop along MRT Line 1, access to the community will be greatly enhanced, allowing residents even greater access to retail and commercial developments car free,” said Teh.

Tan & Tan has land bank of 1,550 acres worth RM5 billion GDV throughout Malaysia. Among its future launches are Damai Residence in Desa Pandan, Damai 15 in Jalan Damai and Stonor 3 in Lorong Stonor, Kuala Lumpur.

Damai Residence has a GDV of RM62 million and comprises one block of 30 condominium units and a penthouse. The prices range from RM1.9 million to RM4.35 million with built-ups between 1,938 sq ft and 3,961 sq ft. It’s expected to be launched in the first quarter of 2015 (1Q15) and scheduled for completion by December 2017.

Damai 15, which is located near the Damai light rapid transit station, comprises four semi-detached villas with built-ups of between 4,000 sq ft and 4,500 sq ft. It has an estimated GDV of RM20 million, and scheduled for completion by March 2015.

The Stonor 3 comprises one block of 400 serviced apartments with built-ups ranging from 688 sq ft to 1,313 sq ft. The indicative selling price is from RM1.1 million onwards. It is expected to be launched in 3Q15 and scheduled for completion in 2018.

With much uncertainty on the horizon in the property market, Teh said, “Two key factors will largely drive the direction of the property sector in 2015 — the introduction of the goods and services tax as well as lower oil prices. These factors will inevitably lead to greater caution among both developers and purchasers, impacting their evaluation of any future investments made.”

A view of the showhouse’s living and dining area. Photo by Tan & Tan Developments Bhd

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Fairmont Marina Residences in Abu Dhabi up for sale

KUALA LUMPUR: Fairmont Hotels & Resorts announced last Friday that 249 units of its Fairmont Marina Residences in Abu Dhabi, United Arab Emirates (UAE), are now being offered for sale exclusively to UAE nationals.
Fairmont is owned by FRHI Hotels & Resorts (FRHI), a global hotel company with over 110 hotels under the Fairmont, Raffles and Swissôtel brands.
The residential development is part of a mixed-use development by the National Investment Corp (NIC) that includes the Fairmont Marina Resort. The NIC was established in 1999 for the development of the Breakwater area into a locale for economic, social, entertainment, and tourism purposes, with the Marina Mall as its first project.
“This is an extremely exciting mixed-use development project in one of the fastest growing markets in the region. Given the success we’ve enjoyed at Fairmont Bab Al Bahr, we are delighted to be expanding our footprint in Abu Dhabi with a development that combines luxury residences and a five-star hotel,” said FRHI senior vice-president of operations for the Middle East, Africa, India Sami Nasser in a press statement recently.
“FRHI has exceptionally strong residential expertise and we are committed to our goal of being the preferred mixed-use hotel and residential operator in the UAE and beyond,” he added.
Slated for completion in 2016, the Fairmont Marina Resort and Residences will be spread over two towers that meet in an arch. With its prime location in Abu Dhabi’s Breakwater, the development will occupy an overall area of approximately 155,000 sq m and will include an extensive water frontage.
“The initial interest in the Fairmont Marina Residences development has been tremendous among Abu Dhabi residents. We anticipate strong demand for these luxury residences, which combines the best of city living and a breathtaking location with unrivalled lifestyle benefits offered by a signature hospitality brand. This attractive real estate option complements our existing projects in the Breakwater area, and we look forward to working with Fairmont, a brand synonymous with personalised and thoughtful service,” said a spokesman from the NIC.
The residential units range from 100 sq m to over 300 sq m, with one- and three-bedroom units. The units will come fully furnished, with furniture, fabrics and designs reflecting the local heritage and culture.
Fairmont residents will be able to enjoy services such as housekeeping, childcare, grocery shopping, and a private chef-on-demand, as well as exclusive membership to the company’s guest recognition and loyalty programme that includes VIP status and access to special benefits at FRHI properties worldwide, including the Fairmont, Raffles and Swissôtel. Additionally, occupants of the residences will have exclusive access to the hotel’s guest facilities and services.
Hotel facilities will include an infinity swimming pool, children’s club, fitness centre and spa. The hotel will have 563 guest rooms and suites, nine restaurants and lounges, meeting and function space, and a business centre. The Fairmont Gold rooms and lounge are situated at the bridge between the hotel and residences.
The development will offer panoramic views of the Arabian Gulf, the Corniche and the city’s skyline. It also enjoys convenient access to the neighbouring Marina Mall, which is undergoing massive expansion that will grow 2½ times its current size.
This development is in addition to FRHI’s collection of private residences in locations around the world including Istanbul, Dubai, Mecca, Jeddah, Manila and Vancouver.
According to a spokesman at FRHI, the hotel company sees this development as a landmark project that will act as a springboard for its expansion plans to double the number of properties, including residential options, in the region over the next five years.


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The Fairmont Marina Resort and Residences in Abu Dhabi will occupy approximately 155,000 sq m of land in the prime Breakwater location and will include an extensive water frontage. Photo by Fairmont

S P Setia’s Setia EcoHill receives overwhelming response

KUALA LUMPUR: S P Setia Bhd has sold over 70% of the final collection of 2-storey terraced houses in Setia EcoHill, Semenyih, Selangor, during its launch on Nov 30.

The houses are part of the township’s phase 2 which was unveiled earlier in September. The phase 2 collection has a gross development value (GDV) of RM140 million with a total of 191 units.  GDV for the entire EcoHill development is RM4 billion.

The collection comprises three designs; Begonia (1,936 sq ft), Bellucia (2,025 sq ft), and Bartonia (2,089 sq ft). The Begonia units are priced from RM598,000 onwards, the Bellucia from RM615,000 onwards, and the Bartonia from RM632,000 onwards.

The development’s attractions include the Ecohill Park, Weeping Meadows lake gardens and upcoming Tenby International School.
With the Lebuhraya Kajang Seremban (Lekas)-EcoHill link that is scheduled to be completed mid-2015, the development will be connected directly to Lekas, South Klang Valley Expressway, Kajang Dispersal Link

Expressway, North-South Expressway and Lebuhraya Damansara-Puchong.
Phase 1 of the development was launched in October last year with the first 1,300 units sold within hours of the launch.

The crowd during the launch. Photo by S P Setia

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Think City launches RM30m urban regeneration grants

KUALA LUMPUR: Think City Sdn Bhd, a community-based urban regeneration organisation, has launched its Think City Grants Programmme (TCGP) worth RM30 million for initiatives to rejuvenate Butterworth in Penang, Kuala Lumpur and Iskandar Malaysia in Johor.

TCGP is modelled after the organisation’s maiden George Town Grants Programme (GTGP), which was launched in 2009, and will now include the new locations in Penang besides the original George Town.
The programme, targeted at city stakeholders — such as residents, non-governmental organisations and private property owners — to take ownership of their city, intends to disburse RM8 million to RM10 million per annum over three years starting from next year, said its chief executive officer Hamdan Abdul Majeed.

“In terms of the focus of the grant, we are looking at any urban improvement project, so long as the participants can contribute to urban renewal work. We would like to crowdsource for ideas … We want to look at the merit of the ideas and how they will impact the city,” Hamdan told reporters yesterday.

TCGP will focus on projects to be implemented in key areas, namely the old town centre of Butterworth; a 1km radius around Masjid Jamek in downtown Kuala Lumpur; and Medini in Iskandar.

“Butterworth is a counterpoint to George Town. It is a secondary city that has characteristics similar to other secondary cities in Malaysia … They are small cities with a narrow population and limited activity, and are struggling to figure out their city’s vocation.

“Then Kuala Lumpur is a very large space, and where do we focus on to enhance its identity and strengths to make it more attractive? In the case of Iskandar Malaysia, we want to know how we can add to Iskandar to make it a global metropolis,” said Hamdan.

Meanwhile, GTCP has been well received by the local community. So far, it has given out RM17.5 million in small grants to fund over 240 projects and is completing an impact study of the programme.
Think City estimates that GTCP has attracted co-investment of RM6 for every RM1 allocated.

Some of the programmes that it has implemented include the restoration of heritage buildings, public art such as the installations and murals at Lebuh Armenian, and youth education.

As Think City is a unit of Khazanah Nasional Bhd, its programmes’ initial funding comes from the national treasury’s Yayasan Khazanah. However, Think City also hopes to rope in other parties to also contribute to the programme, said Hamdan.

“We haven’t approached other foundations yet because we want to show results first,” he said.
The deadline for grant applications is Jan 31, 2015, and the first rounds of successful applicants are expected to be announced in early April.

Hamdan: We are looking at any urban improvement project, so long as the participants can contribute to urban renewal work. Photo by Think City

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UM Land and Mah Sing sweep the 2014 MRPPA property awards

KUALA LUMPUR: Property developers United Malayan Land Bhd (UM Land) and Mah Sing Group Bhd took home five and three awards respectively at The Malaysian Reserve Property Press Awards (MRPPA) 2014 last Friday. The award was held to recognise exemplary players in the Malaysian property industry. UM Land took home awards for Outstanding Township Developer and Smartest Integration of a Modern Industrial Park for the Dover Business Park at Seri Albion development; Most Iconic Rejuvenation Plan for Johor Baru City Centre for the Suasana Iskandar development and, through its subsidiary Dynasty View Sdn Bhd, Most Promising Smart Healthy City and Communities Township for the Seri Austin development. The Property Man of the Year award was also snapped up by the chief executive officer of Dynasty View Wong Kuen Kong. Mah Sing took home awards for Outstanding Developer of the Year, Most Iconic Residential Value Proposition (mixed development) for Southville City, and Most Iconic Residential Development for Lakeville Residence. Meanwhile, UEM Sunrise Bhd won two awards for Most Iconic High-rise Residential Development and Most Iconic Low-rise Residential Development for both Residensi22 and Ophiria Residences@East Ledang, respectively. Also taking home two awards each are Naim Holdings Bhd and Gabungan AQRS Sdn Bhd. The former won Most Prestigious Integrated Commercial Development for Bintulu Paragon and Most Prestigious Integrated Lifestyle Residential Development for Southlake Permyjaya, while the latter won Most Bespoke  Heritage Address in Iskandar and Best Family Living Concept for The Peak and the Contours developments. Datuk Seri Dr Vincent Tiew of Andaman Property Management Sdn Bhd snapped up the Most Philanthropic Individual of the Year award, while REI Group of Companies was recognised as Most Innovative Marketing Strategist, and Setia Haruman Sdn Bhd for Most Successful Vision City Builder for Cyberjaya. Among the other winners are Ho Chin Soon of Ho Chin Soon Research Sdn Bhd for Outstanding Research Contribution to the Country; Dr Daniele Gambero of REI Group of Companies for Outstanding Investment Education for the Public; the Real Estate Housing Developers’ Association for Driving the National Property Market through Malaysian Property Exposition; and the Sabah Housing Real Estate Developers Association for Outstanding Contribution to the Sabah Development Landscape. Minister in the Prime Minister’s Department Datuk Seri Abdul Wahid Omar attended the event. This article first appeared in The Edge Financial Daily, on December 5, 2014. For more information on Building and Construction event, please visit www.asiapacificevents.com

Amerin Mall expects 2.5 million visitors a year

KUALA LUMPUR: Capital Trend Asia Sdn Bhd (CTA) expects 2.5 million visitors a year to its first retail development, Amerin Mall, in Balakong, Selangor upon completion in 2016.

“[This amounts to] 6,849 visitors a day. We plan to build eight cinema halls, which will attract 50% of this estimation, and the balance visiting our anchor grocer, F&B and retails lots,” said K H Lim, its managing director.

“We will be operating the mall ourselves. However, we are also considering working with a mall operator if we find a good one.”
Besides the mall, CTA is also building Amerin Residences comprising two 19-storey residential towers with 304 units in each tower. The entire development has an estimated gross development value of RM380 million.

The RM80 million Amerin Mall will have three levels of retail space, a gross built-up of 410,700 sq ft and net lettable area of 155,600 sq ft.

The mall will have a tenant mix of F&B outlets (40%), retail shops (56%) and kiosks (4%). The retail shops have built-ups of between 566 sq ft and 7,037 sq ft.
Lim is looking at rental rates ranging from RM4.50 per sq ft (psf) for the ground floor to RM2.50 psf for the second floor.

Amerin Mall will be competing with two other malls in the vicinity: The Mines Shopping Mall and Aeon Cheras Selatan Store & Shopping Centre.
Among its outlets is the River Promenade, where visitors may dine and relax while enjoying the natural river view.

“[We hope our tenant mix will] ensure the mall is attractive to visitors,” adds Lim.
Other than Amerin Mall, the group is also expecting to run its two upcoming hotels in Jalan Rembia, Kuala Lumpur and Perling, Johor, which will start operations at end-2015 and second quarter of 2016, respectively.

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