The domestic property market may be experiencing a downturn at the moment but if the response to the public preview of Sunway Bhd’s Sunway Mont Residences in Mont’Kiara is any indication, there are still bright spots in the gloomy outlook.
“More than 1,000 people came for the preview last weekend [May 21 and 22]. We are soft-launching Sunway Mont Residences on May 28 and judging from the response to the preview, I believe the development will be well received. I think it also proves that Mont’Kiara remains one of the most sought-after addresses,” Ang Kee Ping, executive director, central region, property development division tells City & Country.
Good response to preview of Sunway Mont Residences
Binastra Land to launch flagship integrated development in Chan Sow Lin
Contractor-cum-property developer Binastra Land Sdn Bhd aims to launch its flagship and largest project – the RM1.3 billion Trion Kuala Lumpur – in Chan Sow Lin, an industrial area in Kuala Lumpur, at the end of the year.
The freehold mixed-use development will come up on a 14.075-acre parcel, on which currently stands a Volkswagen showroom that will be relocated in September.
Rencana TTDI project to launch in two months
Contractor turned property developer CK East Group is looking to officially launch Rencana TTDI, a commercial project on a two-acre Malay reserve parcel in Taman Tun Dr Ismail, Kuala Lumpur, within two months.
CK East is the project manager for the RM380 million project, which showcases a “co-working” concept. The project will offer 627 units of smart offices, flexible offices, 2-storey garden terraced units, retail lots, studio offices, duplex offices and corporate suites, as well as two facility floors for businesses.
Setia EcoHill 2 phase one to launch next month
S P Setia Bhd is set to launch the first phase of its Setia EcoHill 2 township next month in Semenyih, said executive vice-president Tan Hon Lim.
“The first phase of the township called Springfield Residences comprises 258 units of 2-storey terraced homes and 96 units of 2-storey cluster semi-detached homes,” he told TheEdgeProperty.com.
SP Setia invests in new Semenyih road
Green project: An artist impression of an observation tower in Setia EcoHill 2
SP Setia Bhd is spending on a new road at its township development in Semenyih as it extends the Lekas-EcoHill Link to Setia EcoHill 2, the new project it will officially launch next month.
EcoHill 2 is part of the larger Setia EcoHill township development comprising 1,010 acres in Semenyih.
SP Setia launching a slew of projects
Amidst the soft property market, SP Setia Bhd plans to launch a slew of projects with a total gross development value (GDV) of RM4.7bil to bring in sales of RM4bil this year.
The property developer has launched two projects – Setia Eco Templer and Edulis – and plans 11 more launches for the second half of the year.
IOI Prop’s township projects to contribute 45% to total sales
IOI Properties Group Bhd is expecting its township projects to contribute 45% to total sales for 2015.
This year, IOI Prop will have two townships added to its existing portfolio, Bandar Puteri Warisan and Bandar Puteri Bangi, which respectively have a gross development value (GDV) of RM2.5bil and RM3.6bil.
Protasco’s De Centrum City taking shape
Protasco Bhd is adopting the new urbanism concept in its maiden project, De Centrum City, in Kajang, Selangor. The group, which is known more for its infrastructure construction and engineering businesses, is aiming high with its property development division.
The concept, an urban design movement that promotes walkable neighbourhoods, is similar to the one adopted by award-winning Desa ParkCity in Kuala Lumpur.
SkyWorld to launch three projects
While some major developers are holding back their launches in view of the challenging market conditions, SkyWorld Development Sdn Bhd aims to make its presence known to the public. It has three new launches planned this year in Kuala Lumpur, with a total gross development value (GDV) of almost RM1.4 billion.
They are SkyLuxe On The Park in Bukit Jalil (RM403 million), SkySierra in Setiawangsa (RM722 million) and Rumawip (Rumah Mampu Milik Wilayah Persekutuan) Scheme SkyAwani 2 in Sentul (RM259 million).
Quek eyes Eco World International
Reclusive tycoon Tan Sri Quek Leng Chan is looking at acquiring a substantial stake in Eco World International Bhd (EWI), which is en route for an initial public offering (IPO) to list on Bursa Malaysia, several sources say.
“His team is currently undertaking a due diligence study on EWI,” says a source familiar with the matter.
Setia Eco Templer's first phase sees buyers camping overnight
SP Setia Bhd's Setia Eco Templer project near Templer's Park in Kuala Lumpur saw about 60 potential buyers camping at thesales gallery there since Friday night as they seek to secure their preferred units, said executive vice-president Datuk Koe Peng Kang.
"They came to choose their preferred units, which are close to the rivers and lakes. Even now (6:40pm) we are still selling homes," he told TheEdgeProperty.com.
PHB looking at new asset class?
Real estate investment firm Pelaburan Hartanah Bhd (PHB) seems to have had a busy 2015. It grew its investment portfolio and set in motion development plans for two of its prized parcels of land in Kuala Lumpur.
PHB’s list of investments now stands at 22 — from around 13 in 2014 — of which 18 developments have been completed. According to its website, PHB has been actively and prudently acquiring prime commercial real estate and has accumulated property assets worth over RM5 billion.
2016 Mapex Property Showcase targets 25,000 visitors
The 2016 Mapex Property Showcase is targeting to have at least 25,000 visitors at the five-day event, the organising chairperson of Mapex 2016, Carrie Fong told TheEdgeProperty.com today.
The 2016 MAPEX Property Showcase, which has the theme “A Better Home for A Better Tomorrow”, kicked off today and will run daily from 10am to 10pm until this Sunday at the 1Utama Shopping Centre, Petaling Jaya. TheEdgeProperty.com is the media partner of 2016 MAPEX Property Showcase.
Making housing more accessible
Tan Sri Datuk Sri Leong Hoy Kum expects the local property market to hit a turning point soon and anticipates demand to pick up in the second half. “Various indicators point towards a turning point. Residential property transactions have bottomed out as there was a milder contraction in Q42015 compared with the third quarter and second quarter of last year,” says Leong, the managing director of Mah Sing Group Bhd.
“We are also seeing more interest in the property industry among local and foreign institutional investors, which indicates that consumer sentiments may have already hit bottom. The MIER Consumer Sentiment Index was at an all-time low of 63.8 points in 4Q2015 even though the Business Conditions Index showed a slight improvement during that quarter.
I’m here to crack the whip, says TA Global’s Joo Kim
After spending the most of the last seven years jetting back and forth between Vancouver, Canada, and Kuala Lumpur, the 36-year-old new CEO of TA Global Bhd, Tiah Joo Kim (pictured) — the third child and eldest son of chairman Datuk Tony Tiah and his wife Datin Tan Kuay Fong — says he is now back in town to “crack the whip” and get the group’s property projects moving.
The group has lined up RM3.1 billion worth of projects for launch in the next 14 months — the current property slump notwithstanding — starting with Ativo Suites, a residential development on a 2.83-acre site adjacent to Ativo Plaza in Damansara Avenue, in the third quarter of this year.
Sunsuria sets up JV with Taiwanese to develop project in Selangor
Property developer Sunsuria Bhd is partnering Taiwan-based Welcome Global Co Ltd for a mixed development project at Sunsuria City in Salak Tinggi, Selangor.
A joint venture company, Sunsuria Everrich Sdn Bhd, has been set up for the purpose, with Sunsuria owning a 60% stake and Welcome Global owning the remainder stake. Welcome Global is part of construction firm Ever Rich Land Co Ltd.
RAM retains negative outlook on Klang Valley property sectors
RAM Ratings has maintained its “negative” outlook on the Malaysian residential and commercial property sectors within the Klang Valley, as consumer sentiment is expected to be reined in by weaker economic prospects.
In a report, RAM said consumer and business sentiment is expected to remain muted amid a slowing economy, while lending conditions are likely to stay tight, thus presenting another challenging year for the property sector.
Green project in honour of Templer
SP SETIA executive vice-president Datuk Koe Peng Kang is excited about Setia Eco Templer, a leasehold gated and guarded 194-acre development about 20km from the city and 10km from Rawang commercial area.
When SP Setia bought about 4,000 acres in what is now known as Setia Alam, the property development circle thought the company has gone off its rockers as access was limited. The company subsequently built highways to provide access and the township is thriving with a heavy ecology theme.
SP Setia to launch Retusa 3-storey linked semi-dees tomorrow
Property developer S P Setia Bhd will be launching Retusa – which comprises 48 units of 3-storey linked semi-detached houses at Precint 11 of its Setia Alam township tomorrow, Bandar Setia Alam deputy manager Tan Siow Chung told TheEdgeProperty.com via email.
“The freehold semi-dees will have built-ups of 3,171 sq ft and are priced from RM1.27 million onwards. It will sit on a 32 ft by 70 ft plot,” he said.
TTDI and Bangsar – rising above the rest!
Taman Tun Dr Ismail and Bangsar are two hot freehold addresses in Kuala Lumpur, especially for landed residential property.
Despite having been around for a long time, these two established townships have remained sexy to investors and owner-occupiers, due in part to their strategic location, connectivity and a scarcity of land in both addresses.
50 lot buyers of Plaza Rakyat have submitted proof
About 50 of the total 222 buyers of units of the abandoned Plaza Rakyat project in Pudu have provided the new developer with the necessary documents as proof of purchase to facilitate compensation.
They have been given until July 31 to submit all papers pertaining to the sale and purchase agreement, and original receipts issued by the original developer Plaza Rakyat Sdn Bhd (PRSB).
Gabungan AQRS in PR1MA project tie-up
Gabungan AQRS Bhd, via wholly owned subsidiary Gabungan Strategik Sdn Bhd (GSSB), will be co-developing PR1MA Homes in Kuantan, Pahang, for RM424.23mil.
In a filing with Bursa Malaysia, Gabungan AQRS said GSSB had entered into a joint-venture (JV) agreement with contractor Monolight IBS Building System Sdn Bhd to construct, develop and complete the development of PR1MA Homes on 182,000 sq m of land in Kuantan.
Sime Darby launching Quarza Residence this Sunday
Sime Darby Property Bhd – the property arm of Sime Darby Bhd – is set to officially launch the Quarza Residence serviced residences in conjunction with its Lifestyle Collection Campaign this Sunday, the group said in a press release today.
Quarza Residence – which is located at Melawati, KL East – will comprise two residential towers with 508 units.
Paramount Corp banks on diversification
A meeting with a banker would probably be all about the numbers. This also seems to ring true for former bankers, like Paramount Corp Bhd group CEO Jeffrey Chew. During his interview with City & Country recently, he started off with a presentation of the company’s financial performance, before going on to highlight numbers from the National Property Information Centre.
Chew had been a high-profile senior banker, with more than 20 years of experience in the financial sector, prior to joining Paramount Corp where the two core businesses are property and education. He says he always joins an industry where he “has no qualification and experience”. He started his career at PricewaterhouseCoopers (PwC), then joined Citibank Bhd for 12 years and later, OCBC Bank (M) Bhd for 11 years. He took on the role of Paramount Corp CEO in July 2014.