EP 2 FRIDAY OCTOBER 13, 2017 • THEEDGE FINANCIAL DAILY

NEWS HIGHLIGHTS from www.EdgeProp.my

OCR launches RM1,900 psf serviced apartment UEM Sunrise targets 50% take-up for in KLCC Residensi Solaris Parq by year end O&C Resources Bhd (OCR) has launched its Isola @ KLCC project UEM Sunrise Bhd is eyeing a 50% the positive response from the along Jalan Yap Kwan Seng — with take-up rate for the fi rst phase soft launch and the prime loca- units carrying a price tag of RM1,900 of its latest mixed-use develop- tion of this project. psf — on Oct 7. ment, Solaris Parq in Dutamas, Residensi Solaris Parq fea- The project comprises only 140 Kuala Lumpur by year end. tures more than 30 lifestyle units, with one unit per fl oor across The fi rst phase is the upmar- amenities and facilities, includ- four residential blocks. Built-ups ket Residensi Solaris Parq, which ing a 2-acre urban park. range from 636 sq ft to 3,390 sq ft. comprises two towers of serviced The second and fi nal phase According to OCR managing di- apartments with 576 units that of Solaris Parq — retail, suites rector Billy Ong, 40% of the units range from 721 sq ft to 2,469 sq and office components — will have been sold, while a further 40% ft. Prices range from RM873,800 be rolled out in the next 12 to 18 of the units have been booked. to RM2.9 million, translating into months, said Anwar. The Edge Property Sdn Bhd (1091814-P) Some of the facilities in the de- a GDV of RM755 million. Solaris Parq is located on Level 3, Menara KLK, velopment include a business centre, UEM Sunrise CEO Anwar Syahrin up for Residensi Solaris Parq by the 18.76 acres of freehold land next to No 1 Jalan PJU 7/6, Mutiara resident lounge, sky pool, indoor Abdul Ajib believes that a 50% take- end of this year is achievable, given Publika Shopping Gallery. Damansara, 47810 , , Malaysia gym and party suite. The project has a GDV of RM240 EdgeProp.my million and is slated for completion ment for sale, with a A$29 million listed Royal Exhibition Building and at 73% of the applications in 2Q17. by 2021. (RM95.54 million) price tag. surrounding Carlton Gardens. Furthermore, 72% of the housing loan Managing Director/Editor-in-chief The developer is anticipating The penthouse crowns the resi- borrowers are fi rst-time house owners Au Foong Yee S P Setia sets record a buyer with “distinctive style and dential tower, which is connected via under the aff ordable home category. EDITORIAL prestigious taste” and has fi ttingly a skybridge to a second tower that “For the fi rst eight months of 2017, Editor Lam Jian Wyn price in Melbourne set aside A$5 million to custom- will be operated by luxury 5-star commercial banks approved over Contributing Editor Sharon Kam Deputy Chief Copy Editor S P Setia Bhd’s 650 sq m luxury ise the design, layout and fi nishes brand Shangri-La Hotel. RM42.2 billion and disbursed ap- James Chong penthouse atop its Sapphire By of this plush pad, said S P Setia’s proximately RM39.5 billion in loans Copy Editor The Gardens has taken the title of Australia operations CEO Choong ABM refutes for the purchase of residential prop- Geraldine Tan Melbourne’s most expensive apart- Kai Wai. erties. Financing therefore remains Senior Writer Tan Ai Leng Rehda claims over Writers Rachel Chew, Natalie Khoo, This will include a kitchen de- available for eligible borrowers,” said Shawn Ng, Lum Ka Kay signed by internationally renowned end-fi nancing ABM in a statement on Oct 9. Art Director Sharon Khoh restaurateur Shannon Bennett, him- challenges To recap, the Real Estate and Design Team Nik Edra, Rajita Sivan self a Melbournian. The Association of Banks in Ma- Housing Developers’ Association Ma- “There will even be 10 car spaces laysia (ABM) has refuted allega- laysia (Rehda) president Datuk Seri For New Launches/Events/ made available to the penthouse buy- tions that homebuyers are fi nding it FD Iskandar Mansor had remarked Press Releases/News Tips email: [email protected] er,” Choong said in a press release. tough to obtain housing loans. that “not only is it harder to obtain a Tel: 03-7721 8211 Fax: 03-7721 8280 In addition, the penthouse is ex- “Banks have always been support- housing loan, the loan approval time pected to off er breathtaking uninter- ive in providing home loans to all also takes longer than before”, citing ADVERTISING & MARKETING rupted views of Melbourne, including eligible borrowers. The overall hous- fi ndings from the Rehda property in- Associate Account Director, Advertising & Marketing those of the Unesco World Heritage- ing loan approval rate remains high dustry survey 1H17. Heidee Ahmad (019) 388 1880 Senior Account Managers Cecilia Too (012) 319 7666 trending How do I get past issues of this weekly pullout? Ian Leong (012) 359 1668 Go to www.EdgeProp.my to download for free Account Managers now Jason Jaafar (010) 805 4841 Jeffrey Yeoh (016) 217 9227 Marketing Support & Ad Traffi c Madeline Tan (03) 7721 8218 If you have any real estate-related events, email us at [email protected]. email: [email protected] LAUNCHES + EVENTS Events listed here will also appear on www.EdgeProp.my. NEGOTIATOR & CUSTOMER ADVISORY SERVICE Senior Manager Elizabeth Lay Solaris Parq @ Mont’Kiara Green phase 1 in the City of Megamall, Lingkaran Syed Ryan & Miho preview Senior Associate Stannly Tan preview Elmina is a freehold 2-storey Putra, Kuala Lumpur Date: Oct 14 and 15 (Sat and Sun) Associate Karen Wong Date: Oct 14 and 15 (Sat and Sun) linked home development with Contact: (03) 7880 8000 Time: 9:30am to 6pm For enquiries and listings Time: 10am to 5pm unit land size of 20ft by 70ft. Organised by the Real Estate Venue: 9-G Block A, Jaya email: [email protected] Venue: UEM Sunrise The selling price starts from and Housing Developers’ One, Jalan University, GL: (03) 7721 8175/ 8172 Showcase, 21, Jalan Kiara, RM683,888. Sales will be carried Association, Malaysia Property Petaling Jaya, Selangor EdgeProp.my pullout is published Mont’Kiara, Kuala Lumpur out via balloting. Interested Expo 2017 (MAPEX 2017) Contact: (03) 7733 1231 by The Edge Property Sdn Bhd. It is Contact: (1800) 888 008 buyers will need to present their will off er the latest projects OSK Property Holdings available with The Edge Financial UEM Sunrise invites all to identity cards for verifi cation. on the market. There will Bhd is having a preview of Daily every Friday. The pullout is also distributed at more than join the team for an artful also be property talks, fun its Ryan & Miho serviced 200 offi ces, shopping complexes, showcase of Solaris Parq, a Local Blackfriars exhibition activities and prizes, giant apartment project located in condos, medical centres, F&B outlets mixed development located next Date: Oct 14 and 15 (Sun and Sat) board games, popcorn and Section 13, Petaling Jaya this and LRT stations in the Valley. You can also download it for free at to Publika Shopping Gallery in Time: 11am to 7pm cotton candy giveaways as well weekend. Indicative prices www.EdgeProp.my Dutamas. The developer will Venue: Bintang 6, Level 4, JW as a blood donation drive. are from RM488,000. Light also be unveiling the fi rst phase Marriott Kuala Lumpur, 183, refreshments wil be served. of the development, Residensi Bukit Bintang Street, Bukit Mah Sing’s Deepavali Th e Edge Malaysia Solaris Parq, this weekend. Bintang, Kuala Lumpur celebrations Chiswick Gate @ London Contact: (03) 7939 5555 Date: Oct 13 to 22 (Fri to Sun) showcase in KL Publisher and Group CEO Hartamas Real Estate (M) Sdn Time: 10am to 10pm Date: Oct 14 and 15 (Sat and Sun) Ho Kay Tat Bhd, the appointed agency for Venue: Star Avenue Lifestyle Time: 11am to 6pm EDITORIAL Local Blackfriars — a residential Mall, Jalan Zuhal U5/179, Pusat Venue: Straits Boardroom, The Editor-in-Chief Azam Aris project located in Manchester, Komersial Arena Bintang, Westin Kuala Lumpur, 199, Jalan CORPORATE Chief Operating Offi cer UK — invites interested investors Seksyen U5, Bukit Bintang, Kuala Lumpur Lim Shiew Yuin to explore the project which Contact: (03) 7734 1165 Contact: (010) 438 9169 / ADVERTISING & MARKETING comprises 380 apartments, Mah Sing will be displaying (016) 645 9797 Chief Commercial Offi cer Sharon Teh (012) 313 9056 townhouses and penthouses. It is the “Peacock of Light” at the Knight Frank, the appointed General Manager Offi cial launch of Elmina a 5-minute walk to Manchester Star Avenue Lifestyle Mall for agency of Chiswick Gate @ Kingston Low (012) 278 5540 Green phase 1 central business district. Prices the entirety of the Deepavali London, is organising a showcase Senior Sales Managers Date: Oct 14 (Sat) start from £160,000 (RM895,000). festive period. Other activities of the project this weekend. The Fong Lai Kuan (012) 386 2831 Gregory Thu (012) 376 0614 Time: 8.30am to 10.30am include zumba classes with project consists of apartments Kamalesan Parama (012) 394 4855 Venue: Elmina Pavilion, MAPEX 2017 Indian dance choreography, and townhouses with selling price Michael Tan (012) 213 0252 Persiaran Elmina, Elmina Date: Oct 14 and 15 (Sat and Sun) candle-holder-making workshop, from £618,000 (RM3.45 million) Creative Marketing Chris Wong (016) 687 6577 East, Shah Alam, Selangor Time: 10am to 9pm Bollywood dance performance and £1.9 million, respectively. It Head of Marketing Support Contact: (03) 7831 2253 Venue: Mid Valley Exhibition and limited-edition candle is located in zone 3 and a short & Ad Traffi c Sime Darby Property’s Elmina Centre, Mid Valley holders for redemption. walk to the River Thames. Lorraine Chan (03) 7721 8001

EP 4 FRIDAY OCTOBER 13, 2017 • THEEDGE FINANCIAL DAILY NEWS RM1 bil mixed-use development by Poly Ritz coming up in Kuchai Lama

ARTIST’S IMPRESSIONS BY POLY RITZ BY LUM KA KAY Besides D’Ritz Residency, Poly Ritz has another two project launches worth in total KUALA LUMPUR: Poly Ritz Development of about RM1 billion lined up for the next Sdn Bhd is looking to launch a RM1 billion few months. Targeting the middle- and mixed development called D’Ritz Residency lower-income groups, Poly Ritz will launch in Jalan Kuchai Lama, Kuala Lumpur by Ritz Communities in Salak South, KL this the end of this year. month, said Wong. D’Ritz Residency is a 3.53-acre freehold “Th is is a project under the Rumah Mam- development comprising 1,128 serviced pu Milik Wilayah Persekutuan afforda- apartment units and 20 retail units includ- ble home scheme. Each unit is priced at ing six 3-storey shoplots. RM300,000 and comes with one car park Built-ups for the serviced apartments bay. will range between 868 sq ft and 1,250 sq “Th e 3.23-acre leasehold project is only ft. Th ey are tentatively priced from RM680 a fi ve-minute walk to the future Kuchai psf to RM720 psf. Lama MRT station,” he said. “Th e architecture is designed to create With a GDV of RM336 million, Ritz Com- privacy. Every single room emphasises munities will house 1,120 homes in two natural light and ventilation. 48-storey blocks. Facilities include a swim- “We are targeting the upper-middle-in- ming pool, multipurpose hall, children’s come group for this project. Kuchai Lama playground, gym and jogging path. is a very mature and strategic location, Wong added that so far, Ritz Commu- which is only 10 to 15 minutes’ drive to KL nities is 70% booked ahead of its offi cial city centre. Convenience and accessibility launch. are at your doorstep,” Poly Ritz CEO Wong By the end of this year, the developer will Siew Woon told EdgeProp.my. be launching a mixed development called Ritz Avenue at Jalan Kuching will be So far, Ritz Communities is 70% booked Ritz Avenue in Jalan Kuching. Th e 4.5-acre launched by the end of this year. ahead of its offi cial launch. freehold project will comprise 730 ser- viced apartment units, 190 Small-offi ce Home-offi ce units and 26 retail units. It dle-income group or young families with tor of Poly Ritz Development Chan Teck has an estimated GDV of about RM648 a monthly household income of more than Chong, the developer started off as a con- million. RM10,000, looking for a new home in a tractor in 1999 with a focus on infrastruc- Th e serviced apartments range from strategic location. ture works. 560 sq ft to 1,085 sq ft and are tagged “Every home we build has practical lay- “Then in 2004, we started our first between RM580 psf and RM620 outs, is in a strategic area and comes with property development with 15 units of psf. Facilities include indoor and an aff ordable price tag. shoplots in Desa Pandan. Subsequently, outdoor gyms, zen garden, ham- “As lending guidelines are tighter, we we developed 16 units of semi-detached mock garden, roof garden, ten- have to gauge the aff ordability levels — factories in , Cheras. Later, we nis court, function hall, tennis what kind of monthly repayments buyers have also built Residence 33, a leasehold, court and barbecue area. can give, who the banks will most likely luxurious bungalow project in Kota Ke- Wong said Ritz Avenue is approve for loans and so on,” Wong added. muning,” he said, adding that Poly Ritz fi ve minutes’ drive from Batu Both Ritz Communities and D’Ritz Res- is in the middle of negotiating a few land Caves and seven minutes’ drive idency will be jointly developed by Poly deals outside the for a town- from Metropolitan Park. Ritz and China-based developer Debao ship development. It is targeted at the upper-mid- Property Development Ltd under Poly Ritz On the property market, Chan says Ma- Communities Sdn Bhd and Poly Ritz Green laysian properties are still one of the cheap- Development Sdn Bhd respectively. Debao est in Southeast Asia. “Th e market some- Wong (right) and Chan said Poly is a listed company on the Singapore Stock times look slow, but actually it’s not that Ritz’s three upcoming launches are Exchange. slow. Th e aff ordability is still there but peo- LOW YEN YEING | EdgeProp.my targeted at owner-occupiers. According to founder and fi nance direc- ple are more cautious,” he opined.

First APSDA general assembly to be held in KL next week

BY RACHEL CHEW the different Asia-Pacific region- in Malaysia on Jan 23 this year, weekend will be held at the Kuala al cultures. the association existed as a loose Lumpur Convention Centre. Edge- KUALA LUMPUR: Some 50 del- “The purpose of the associa- alliance for over 19 years. Prop.my is the media partner for egates from 10 countries are ex- tion is to contribute to the devel- In the approval of the formali- the event. pected to attend the first general opment of human environment sation, eight national Asia Pacifi c “We are expecting about 50 del- assembly of the recently formal- and culture through interior de- Interior Design bodies were offi - egates who are interior designers ised Asia Pacific Space Designers sign and to render services for cially registered as the founder full and industry partners from Ma- Alliance (APSDA) in Kuala Lum- the advancement of the profes- members of APSDA. Th ey are the laysia, the Philippines, Indonesia, pur on Oct 21. sion in the Asia-Pacific region,” Chinese Society of Interior Design- India, Taiwan, Thailand, Australia, APSDA is a gathering of nation- said APSDA president Chris Yap ers, Design Institute of Australia, Japan, Hong Kong and Singapore al-level design associations from Seng Chye, who is also the cur- Himpunan Desainer Interior In- at the general assembly and gala the Asia-Pacific region. rent president of the Malaysian donesia, Institute of Indian Inte- dinner next week,” said Yap. The association strives to en- Institute of Interior Designers. rior Designers, Japan Commercial The immediate aim of APS- courage the exchange of interior He added that APSDA is a Environmental Design Associa- DA following its formalisation design information and knowl- non-political organisation that tion, Malaysian Institute of Interior will be to enlarge its membership edge between members for the pursues excellence in interior de- Yap: The purpose of the association Designers, Philippine Institute of across the region and unify under advancement of the field to bene- sign within the region. is to contribute to the development Interior Designers and Th ailand national bodies to speak as one fit the society at large. It also aims Prior to its official formalisa- of human environment and culture Interior Designers’ Association. voice on interior design matters to raise a better understanding of tion with the Registrar of Societies through interior design. Its fi rst general assembly next and policies, he added.

EP 6 FRIDAY OCTOBER 13, 2017 • THEEDGE FINANCIAL DAILY FEATURE

PICTURES BY

Around 20% of the land area at Jade Hills is dedicated to green space comprising lakes Jade Hills celebrates and gardens. its 10th year

BY NATALIE KHOO tioned out 20% of the land area as Homes in green spaces comprising lakes and Jade Hills t seems like only yesterday that gardens that are integrated into the are fenceless the 338-acre Jade Hills in , diff erent neighbourhoods within to allow Selangor was first launched, but the township,” off ers Ngan. neighbours to Gamuda Land’s fifth township He adds that the same approach interact. development is in fact celebrat- is practised in the development of ing its 10th year this year. Gamuda Land’s other townships. IDuring the planning stage of the “We bring the water that runs off development more than a decade the land to fl ow into natural ravines ago, the Sungai Chua area in Ka- between hills to create lakes. We jang was void of any well-planned preserve the hills so we can have gated-and-guarded developments. hilltop homes just as we have lake- “We saw the opportunity to create side homes. Trees are preserved Jade Hills is a place where people can come home and only transplanted when nec- an extremely to a low-density and green living en- essary,” he says, adding that the low-density vironment. We wanted to provide lakes are a key component of Jade town featuring open green spaces and lakes. A lot Hills, as not only do they serve as ‘resort’ living in of people who visit Jade Hills for the leisure areas, they also act as gath- the city. fi rst time are pleasantly surprised that ering places for residents. there is such a nice development in Another major community Kajang,” shares Gamuda Land chief space is the Jade Hills Resort Club operating offi cer Ngan Chee Meng. where the residents can come to- He tells EdgeProp.my that one gether to enjoy its facilities as a of the developer’s main emphasis family or with their neighbours. at Jade Hills was to “work with na- Facilities include a swimming pool, ture” — to work with the original gym, restaurant, as well as tennis, people today and upon com- “Word-of-mouth from exist- Building homes and landscape and land topography as badminton and basketball courts. pletion, it is expected to have a ing residents and owners is the lives much as it could in building the “We also make sure that residents 10,000-strong community with a best testament to the product and In the near future, the developer homes and community spaces. can obtain their daily needs easily. total of 2,488 homes. The town- town-making capabilities we have will be refreshing the landscape “Our homes are designed fol- So we have the Commerce Village, ship, which is 60% completed, is delivered to them,” he says. and green spaces at Jade Hills in- lowing the contours of the land. which is just right outside the club- slated for full completion by 2025. In terms of capital appreciation, cluding the parks at the central lake In that way, we can arrange each house that is home to grocery shops, “A town is all about the peo- the residential properties at Jade area. It will also be improving the home in an organic manner while food and beverage outlets as well as ple. Th ey can be growing families, Hills have seen prices rise signifi - facilities at the clubhouse including conforming to the uneven plat- other amenities,” says Ngan. young married couples, single cantly over the years. For example, adding more badminton courts. forms of the land throughout the Meanwhile, the Eaton Interna- adults and retirees — people from terraced homes that were launched “We are also planning for a entire development. We also por- tional School in Jade Hills has at- diverse walks of life. For example, in 2011 for RM766,000 appreciat- shuttle service to the Kajang MRT tracted students not only from the the serviced apartment Jadite Suites ed by an average of 35% as of July (Mass Rapid Transit) station that Kajang area but also from all over is popular with younger buyers — this year, while semidees that were is 5km away, which will then con- Klang Valley, he adds. singles, couples or young families. launched in 2010 for RM1.3 million nect the non-driving residents to We also have linked villas, semidees appreciated by an average of 28% other parts of the Klang Valley. For all walks of life and bungalows for growing fami- as of July this year. Th ere are also ongoing plans to Jade Hills comprises 11 precincts lies and upgraders,” off ers Ngan. Th e township is the only CON- bring in a new collection of life- in total. To date, 732 units of Many Jade Hills homebuyers are QUAS (Construction Quality As- style food and beverage outlets homes and 22 commercial units repeat buyers or those who have sessment System)-rated develop- and introduce new facilities for have been handed over. Th e Jade been referred by existing home- ment in Kajang with Jadite Suites outdoor activities. Hills community stands at 1,700 owners there. achieving a score of 82.8, the high- “As a developer, it is crucial for est scorer for high-rise residential us to think of the diff erent com- buildings in Malaysia in 2016. Jade ponents in the township — your Hills has also won the ILAM Malay- work place, play place, shopping sia Landscape Architecture Award place, gathering place, park place As a developer, it is crucial in 2010 under the Developer (mas- — which should all be integrated ter plan) category. together. When you live in a com- for us to think of the Th e gated-and-guarded devel- munity, you need to have that sense opment is currently being managed of belonging. Not only do we want different components in by Gamuda Land’s own in-house to provide a place for people to in- property management team, the teract with one another, but with the township which should same team that manages Madge nature as well,” says Ngan. all be integrated together. Mansions and Valencia develop- ments — both of which were win- Go to www.EdgeProp.my for ners in Th eEdgeProperty.com Best LOW YEN YEING | EdgeProp.my the latest news on Jade Hills. — Ngan Managed Property Awards 2017.

EP 8 FRIDAY OCTOBER 13, 2017 • THEEDGE FINANCIAL DAILY FRI COVER STORY

here are various strategies to make money through real es- ing tate and one of the most com- opp mon is probably “flipping”, which means buying a prop- par erty and reselling it for a profit con Twithin the shortest time possible. see Th ere are many ways of doing it, such as city buying a property at a new launch and selling tha it off upon completion; buying an old house hav and renovating it before reselling; buying a and completed property and leasing it out with ou a purchase option, and so on. tio It has been the most popular way to make to b money in the industry, especially in the pe- Raz riod of 2008 to 2014, when the market was on an uptrend and banks’ interest rate was the fairly low, property education and investment pri company Skybridge International Sdn Bhd cre CEO Adrian Un tells EdgeProp.my. wil “During the period, there were a lot of and fl ipping activities and a lot of people became me millionaires overnight. Property fl ipping is popular when the market is heating up and Is prices are on an uptrend because many peo- Un ple would take the opportunity to offl oad the their stocks, especially for those who have pri a lot of properties in hand,” he says. is v If you are looking to jump on the band- for wagon, you will need to arm yourself with ho adequate information to avoid land mines. the Before you start, you should study the mar- ket and draw up an investment strategy that to 2 suits your risk appetite and a target of returns. fl ip get Current market condition Ce In today’s market, property price growth dee has stabilised and fl ipping activities have app been reduced. Tightened lending policies So, you want to be a and the implementation of the Goods and ina Services Tax and Real Property Gains Tax hav (RPGT) have made fl ipping tougher. dem In addition, it is a lot harder to flip a ma non-landed residential property compared buy to the past. Th is is because the large amount of supply has compressed asking prices, thus if t aff ecting the potential returns of fl ippers. PROPERTY are However, Un points out that landed ert homes and shoplots in the Klang Valley see still off er opportunities for fl ippers to reap imp handsome profi ts, especially in the next fi ve loa years. “Shops or landed houses located in loa hot areas off er better chances of ippingfl and profi ts, due to land scarcity and stronger FLIPPER? Th demand for these properties.” BY SHAWN NG Evi

STEP-BY-STEP

Although fl ipping sounds Identify properties with positive Bargain for the best purchase price easier than toiling daily in capital appreciation potential the workplace, one must be The property purchase price is a major factor that The fundamental of property investing determines your profi ts. The trick to getting the warned that it comes with risks is supply and demand. Take note of best price is to create a win-win situation for both and lots of hard work. developments in the offi ng, which will buyer and seller. For example, if you were buying CORE Investors’ Lim off ers a boost connectivity, convenience and from a desperate seller who wanted quick cash, 1 economic activities. These will usually 2 you could provide a written assurance to the seller 3 step-by-step guide on how to create future demand for houses in the that he or she has the right to cancel the deal if fi nd a good property and sell it area, translating into better prospects you can’t secure a housing loan within an agreed for a favourable profi t. in price growth and rental rates. period, in exchange for a lower purchase price. FRIDAY OCTOBER 13, 2017 • THEEDGE FINANCIAL DAILY EP 9 COVER STORY

LOW YEN YEING | EdgeProp.my Going forward, he foresees two upcom- its fi nancial gain. According to Skybridge’s are other costs often neglected by fl ippers, ing strong catalysts that will create a lot of Un, if investors can understand and calcu- such as the penalty fee for settling a housing opportunities for gains. late the risks involved, property fl ipping can loan that is still under lock-in period. Th e fi rst is greater demand from overseas, be a springboard for them to accumulate Th e lock-in period for a housing loan particularly from China. “Despite the capital wealth through a secure product in a rela- generally ranges from three to fi ve years controls by the Chinese government, we still tively short time frame. while the penalty fee could start from 2% see many Chinese coming to Kuala Lumpur “You could also possibly multiply your to 5% of the original loan amount. Flippers city centre to hunt for properties. On top of gains faster than your ordinary employ- have to take the penalty fee into account that, many construction jobs in Malaysia Un: Shops ment income, subject to market condition,” if they want to sell a property within the have been awarded to China companies or landed he adds. lock-in period as the fee will make a dent and these companies are also investing in houses As a side benefi t, if you succeeded in on the profi ts. Besides that, the RPGT is our country, such as China Communica- located in fl ipping properties repeatedly, you would also a factor that fl ippers have to take into tions Construction Co Ltd, which intends hot areas also acquire not just a store of knowledge consideration. to build a regional headquarters in the Tun offer better on properties, but of property laws and Razak Exchange,” Un says. chances of taxation systems too, as you would have Z Be prepared for changes Another catalyst, he foresees, would be ː ipping and to work through the nuts and bolts in the Change is a constant. In the real estate in- the expected gradual bouncing back of oil proˎ ts. process. Th us, you inadvertently become dustry, one thing that does not stay put is prices in the future. If crude oil prices in- an expert. banks’ interest rate, which is influenced crease to some US$70 (RM296) per barrel, it On the fl ip side, the high returns come by Bank Negara Malaysia’s overnight pol- will spur growth in the oil and gas industry LOW YEN YEING | EdgeProp.my hand in hand with high risks. If you were icy rate. and thus encourage positive market senti- unable to sell off or secure a tenant for your Skybridge’s Un says the current interest ment, he opines. property, you might get trapped in debt rates on housing loans range from 4.2% and struggle to pay the monthly payment to 4.4%, but fl ippers have to be prepared Is ː ipping unethical? commitments. In the worst-case scenario, for unexpected increases in interest rates Un admits that flipping activities during you may have to dispose of your properties which will translate into higher monthly the market boom have caused property at a loss to extricate yourself from the bind. instalments. prices to balloon. In fact, property fl ipping Furthermore, servicing too many mort- “If you are planning to buy now and fl ip is viewed as an “unethical” or “unhealthy” gages at the same time will reduce your the property in the next fi ve years, you must form of wealth expansion as it can cause Lim: Flippers disposable income. Th us, unless you have never assume that the interest rate will re- house prices to skyrocket to a level beyond should your spouse’s and children’s agreement to main at the current level going forward. the grasp of the general population. calculate the survive on only plain bread and water, you Moreover, you should be fi nancially prepared Although the steep house price rise prior risks involved must be prepared for periods of constant for the scenario where the interest rates in- to 2015 can be partly attributed to the vibrant and take full sowing without reaping. crease 200 basis points or two percentage fl ipping activities among those looking to responsibility points,” he adds. get rich quick, Socio-economic Research for their A checklist before you embark Another possible change to keep in mind Centre executive director Lee Heng Guie decisions. X Understand and mitigate the risks is your own spending pattern, where mon- deems fl ipping as just another investment Property investment and investment educa- umental events such as marriage and be- approach. tion fi rm CORE Investors Sdn Bhd founder coming a parent can signifi cantly alter your “I think the term ‘unethical’ is somewhat KENNY YAP | THE EDGE MALAYSIA and director Rachel Lim says some people expenditures. inappropriate. In a free market economy, you buy a property without doing any research have to let the market adjust the supply and and homework but merely based on the [ Don’t overestimate your fi nancial limit demand, but you cannot completely rely on information they gather from agents, social When your property fails to beget any in- market forces as this will deprive genuine Lee: The media or other fl ippers. come, you will have to dig from your own buyers from owning a home. government “Th ey simply buy and hope the market resources to repay borrowings. “Th e government will have to intervene will have to will go up in the future for them to make a “A lot of people want to achieve fi nan- if they fi nd that fl ipping or other activities intervene huge gain, but when it fails to materialise, cial freedom as young as possible, so they PROPERTY are causing overinfl ated prices in the prop- if they ˎ nd they blame the people who provided them buy multiple properties, thinking that every erty sector. Such prudent measures can be that ː ipping the information,” she says. Hence, she urges property will be able to fi nd a buyer or ten- seen over the past few years, such as the or other fl ippers to calculate the risks involved and ant. But they don’t realise the many loans implementation of RPGT and the maximum activities take full responsibility for their decisions. they take will place a heavy fi nancial burden loan-to-value ratio of 70% for third housing are causing on them. If you cannot sell or rent out your loans,” he says. overinː ated Y Calculate the costs involved property, how long can you pay the instal- prices in the Other than the commonly known costs such ments? You must plan this in advance and, FLIPPER? The gains and risks property as down payments, legal fees and stamp du- more importantly, know your own fi nancial Evidently, the greatest draw to fl ipping is sector. ties involved in purchasing a property, there status and do not overcommit,” Un stresses.

Get a bank loan that suits you Add value to the property Start marketing the property

Shop, compare and negotiate are the Once you have acquired the Try to market your property as early keywords at this stage. Every bank property, consider ways to add as possible to avoid or shorten void has its own risk assessment, therefore value to it with minimal cost, periods, when you have to pay the diff erent loan packages. Hence, like interior design, renovations, instalments without any earnings you need to look for the package furnishing and others. from the property. Start engaging r 3 closest to your requirements and 4 5 estate agents around three to six negotiate for the best terms, such months prior to vacant possession of a as interest rate and lock-in period. new property to speed up the process. EP 10 FRIDAY OCTOBER 13, 2017 • THEEDGE FINANCIAL DAILY FRI FEATURE

What’s spurring housing rental B growth in Seberang Perai? o

PICTURES BY THE EDGE MALAYSIA BY LUM KA KAY

he average rental rates for some landed homes across Seberang Perai, Penang have increased by 10% and above, based on data from the National Proper- ty Information Centre’s Proper- Tty Market Report 2016. Leading the list of residential areas in Seberang Perai with the highest rental incre- ments in the landed homes segment were Property double-storey terraced homes in Taman consultants Central (Central Park) in Seberang Perai foresee Utara with an 18.8% rental rise, followed rentals for by 1-storey terraced homes in Taman Sun- landed gai Rambai, Seberang Perai Tengah with a homes in the 17.6% rental growth. mainland to Th e other housing areas that made up continue to the top 10 areas where their landed homes be relatively had experienced the highest rental change stable. in 2016 from 2015 were Taman Limbungan Indah (16.1%), two in Bandar Putra Bertam Seberang Perai landed homes with the highest rental growth in 2016 (13.7% and 12.5%) and Taman Segar Indah (11.7%) in Seberang Perai Utara; Bandar Tasek Mutiara (13.3%) in Seberang Perai Selatan; and Taman Bukit Minyak Utama ěÃÇČK{Ą TAMAN CENTRAL 9ÇAĄĀĩěĄ 9ÇAĄĀĩěĄ (13.1%), Bandar Perda (11.8%) and Taman ŽÇA‰ ӭ:KÇ쥸ĀĄ¶Ӯ 9KĄěà 9KĄěà ӭČK9KĄÇ{ĀKĄŽ ӭČK9KĄÇ{ĀKĄŽ ӭČK9KĄÇ{ĀKĄŽ ӭČK9KĄÇ{ĀKĄŽ Impian Ria (11.7%) in Seberang Perai Tengah. ĩěĄӮ ĩěĄӮ ĩěĄӮ ĩěĄӮ Of these 10 areas, fi ve are in Seberang Perai Utara, four in Seberang Perai Tengah їӳČěÝĄKťěKĄĄ:K їӳČěÝĄKťěKĄĄ:K іӳČěÝĄKťěKĄĄ:K їӳČěÝĄKťěKĄĄ:K and only one in Seberang Perai Selatan. Monthly rental range Monthly rental range Monthly rental range Monthly rental range According to the Seberang Perai Munici- (RM/unit) for 2016 (RM/unit) for 2016 (RM/unit) for 2016 (RM/unit) for 2016 pal Council (MPSP) on its website, popula- 750 - 1,200 800 - 1,200 400 - 450 600 - 900 tion growth on the mainland is an average of Average rental Average rental Average rental Average rental 2.2% annually, with the greatest growth in the change (%) change (%) change (%) change (%) northern and central parts of Seberang Perai. As of 2017, the central district, which is 11.7 18.8 12.5 13.7 the most populated district on the mainland, has about 445,180 residents while the north- ern and southern districts have 378,280 and 215,540 residents, respectively. By 2020, the population of Seberang Perai is estimated 9ÇAĄĀKĄA to reach over 1.1 million. ӭČK9KĄÇ{ĀKĄŽ Henry Butcher Seberang Perai associate ěKÇ{‰Ӯ director Fook Tone Huat says one of the rea- sons for high rental growth on the mainland is їӳČěÝĄKťěKĄĄ:K ěÃǸŽÃ9ĩÇ{Ç high property prices, leading some to rent fi rst. ŽÇA‰ Monthly rental range Th e appreciation of property prices on ӭČK9KĄÇ{ĀKĄŽ (RM/unit) for 2016 the mainland has also driven up rental rates, ĩěĄӮ 850 - 1,000 says PA International Property Consultants їӳČěÝĄKťěKĄĄ:K Average rental (Penang) Sdn Bhd executive director Mi- change (%) chael Loo. Monthly rental range 11.8 “For instance, a 2-storey terraced house (RM/unit) for 2016 in Taman Central Park, sold at RM333,000 in 750 - 1,200 2011, was transacted at RM650,000 in 2016. Average rental Based on a yield of 2.5%, the rental rate would change (%) have grown from RM800 per month in 2011 16.1 to RM1,350 in 2016,” he says. According to On Realty real estate negoti- ator Chris Huah, the areas in Seberang Perai Utara registered the highest rental growth because Butterworth, the largest town on the mainland, is located here. “Of the three districts — Seberang Perai Utara, Tengah and Selatan — the develop- ěÃÇČĩÇ{Ž ěÃÇ9ĩ¶Žě ěÃÇŽÃĀŽÇĄŽ 9ÇAĄěČK¶ ment of the northern district precedes the ĄÃ9Ž ÃŽÇť¶ĩěà ӭČK9KĄÇ{ĀKĄŽ Ãĩ쎥 other two districts, so it has the most amen- ӭČK9KĄÇ{ĀKĄŽ ӭČK9KĄÇ{ĀKĄŽ ěKÇ{‰Ӯ ӭČK9KĄÇ{ĀKĄŽ ěKÇ{‰Ӯ ěKÇ{‰Ӯ ČK¸ěÇӮ ities and established infrastructure which іӳČěÝĄKťěKĄĄ:K drive rental growth,” he tells EdgeProp.my. їӳČěÝĄKťěKĄĄ:K їӳČěÝĄKťěKĄĄ:K іӳČěÝĄKťěKĄĄ:K Fook concurs, saying the development Monthly rental range SEB (RM/unit) for 2016 Monthly rental range in Seberang Perai Selatan is slower because Monthly rental range Monthly rental range Sen (RM/unit) for 2016 (RM/unit) for 2016 400 - 550 (RM/unit) for 2016 it is located slightly further away from the 400 - 600 600 - 900 350 - 500 major townships of Butterworth, Perai and Average rental SEB Bukit Mertajam. Average rental Average rental change (%) Average rental Rej “However, since the completion of the sec- change (%) change (%) 11.7 change (%) ond bridge — Sultan Abdul Halim Mu’adzam 17.6 13.1 13.3 SEB Shah Bridge — the development in Seberang Sim Perai Selatan has picked up especially in Simpang Ampat and Batu Kawan,” he adds. FRIDAY OCTOBER 13, 2017 • THEEDGE FINANCIAL DAILY EP 11 FEATURE

HENRY BUTCHER SEBERANG PERAI ON REALTY PA INTERNATIONAL Industrial, commercial and education factors Basic information According to Fook, the popular areas for housing rental in Seberang Perai are Perai, of Seberang Perai Seberang Jaya and Butterworth. “Perai and Seberang Jaya are near in- dustrial estates such as the Seberang Jaya Industrial Park and Prai Industrial Estate YSIA and near to town areas such as Butterworth and , Perai. Th ey also con- tain myriad amenities and facilities such as Previously known as public transport, government offi ces and Province Wellesley shopping malls,” he highlights. PA International’s Loo says industrial parks also generate high demand for for- eign labour’s accommodation in nearby housing areas. Fook: The popular areas Huah: The areas in Seberang Loo: The appreciation of Area: 738.41 sq km “Most of the factory operators prefer for housing rental on the Perai Utara registered the property prices on the to rent non-strata houses for their foreign mainland are Perai, Seberang highest rental growth mainland has also driven up workers because they are not restricted Jaya and Butterworth. because of Butterworth. rental rates. by any house rules. Th e housing schemes located near industrial areas usually draw better rental demands and enjoy good Catalysts on the mainland Perai Utara would be Penang Sentral, a rental rates. For instance, Taman Imbun- Seberang Perai Selatan holds certain po- transit-oriented development by Malaysian Current estimated gan Indah and Taman Segar Indah are tential thanks to Aspen Vision City by As- Resources Corp Bhd where phase 1 of the population: 1.039 million housing schemes located 2km away from pen Group, IKEA furniture store, KDU project is expected to complete by this year. industrial parks. Penang University College and other up- “Bandar Putra Bertam and Bandar Tasek coming developments in Batu Kawan, says Outlook for home rental Mutiara are two new suburban neighbour- Loo in PA International’s Penang’s Proper- market hoods in Seberang Perai with some new ty Market Outlook in 2H17. Overall, Huah and Fook foresee rent- commercial and industrial developments. Beyond Batu Kawan, Tambun Indah als for landed homes in Seberang Perai 6 Th ese developments will create job oppor- Land Bhd is also developing a 1,140-acre to continue being relatively stable, with tunities, resulting in the rise in population Pearl City in Simpang Ampat. monthly rents of between RM1,000 and Local government: and housing demand,” he says. Meanwhile in Seberang Tengah, MPSP RM1,500. Seberang Perai Municipal Meanwhile, over in Seberang Tengah, has reported that it will be working with the “Sought-after locations include Raja Council (MPSP) the housing rental market in Taman Sungai Japan International Cooperation Agency Uda, Butterworth, Perai and Seberang Jaya. Rambai is strong thanks to Jit Sin Independ- and Yokohama City University to restore When house prices increase, the rents would ent High School and SMJK Jit Sin, according and rejuvenate Bukit Mertajam. increase as well but at a slightly lower rate to On Realty’s Huah. Over at the northern district, MPSP is than price appreciation,” Fook says. Factors for high “Jit Sin is one of the most prestigious also collaborating with Khazanah Nasional’s Meanwhile, Loo says most locals in Chinese schools in Penang, hence many wholly-owned urban regeneration organi- Penang prefer to own a house rather than rental growth parents will rent a home in that area — if sation Th ink City to rejuvenate Butterworth rent. “Th ey will eventually buy a house es- they can’t aff ord to buy — to put their kids under the partnership’s New Butterworth pecially when they get married. to school. So the schools are the main draw Image Plan. Th ink City was established in “Rental demand is mainly from foreign for people to rent here,” he says. 2009 to revitalise George Town’s Unesco workers, expatriates and internal migrants, World Heritage Site. hence the rental market in Seberang Pe- What about non-landed “Think City has been helping to pre- rai will not be as attractive as the market High property prices homes? serve George Town’s cultural history while in Kuala Lumpur or Selangor, which have The rental performance for non-land- also creating an economically and so- higher migration rates. ed homes in Seberang Perai, howev- cially vibrant city, so we know that the “Nevertheless, the Migration Report 2016 er, did not fare as well as the landed Butterworth town will not remain the shows that Penang has the second-highest homes. Only two projects managed to same as before. The rejuvenation plan net migration after Selangor with a net mi- achieve more than 10% rental growth in will eventually bring some excitement to gration of 12,000 persons in the 2015-2016 Various amenities 2016 — Pangsapuri Casa Prima (10.5%) this sleepy town and achieve a positive period. So the rental market may be more and facilities and Pangsapuri Sri Pantai (Affina Bay) urban outcome,” says Loo. vibrant if the migration rate continues to (10.7%). Another major catalyst for Seberang increase,” he opines. According to Huah, Pangsapuri Casa Prima and Affi na Bay have strong rental demand as tenants are attracted to their Popular schools locations and unit built-up sizes. “Pangsapuri Casa Prima is built on a bumi lot and has many nice facilities. Th e project is surrounded by government offi c- The fi rst IKEA es such as the Employees Provident Fund, furniture Proximity to Tenaga Nasional Bhd, MPSP and Universiti store in the industrial parks Teknologi Mara. northern “Many government officers who are region is transferred to Butterworth will think of located in the renting here. Besides, it has easy access RM10 billion to the North-South Expressway,” he says. Aspen Vision As for Affi na Bay, it is popular due to City. Accessibility to Penang its large yet aff ordable units, off ers Huah. island via fi rst or second “Unit built-ups are up to 1,500 sq ft but Penang bridge rents are only RM1,500 or RM1 psf per month. Tenants are paying less for a big space, Catalysts compared to similar projects in the area. “However, sales demand for Affi na Bay is low as its facilities are only average,” SEBERANG PERAI UTARA — Penang he adds. Sentral and New Butterworth Image Plan Fook attributes the slow rental growth of non-landed homes to oversupply. “On the SEBERANG PERAI TENGAH — other hand, the supply for landed homes is Seberang Rejuvenation of Bukit Mertajam limited while demand is high.” Perai City The situation is likely to remain un- Mall in SEBERANG PERAI SELATAN — Batu Kawan, changed in future as more non-landed Bandar Simpang Ampat and Bandar Cassia homes are coming up. “High land cost has Perda, caused developers to build more non-land- Seberang ed homes instead,” he says. Perai Tengah EP 12 FRIDAY OCTOBER 13, 2017 • THEEDGE FINANCIAL DAILY FUTURE & BEYOND PUSHING BOUNDARIES IN FUTURE LIVING

BY NATALIE KHOO Smart cities — he term “smart cities” has been uttered by many, but what makes a city intelligent? Are where are we now? we really there yet in terms of developing LOW YEN YEING | EdgeProp.my Tsmart cities? Does a smart city equate to less human interaction and render a city soulless? Th ese issues were discussed at a panel discussion themed “Fu- ture-planning: Emerging trends in sustainable projects” at the Future Forward Forum 2017 on Sept 7. Th e discussion was moderated YOUTH by EdgeProp.my managing director and editor-in-chief Au Foong Yee. Th e forum was organised by Re- hda Youth, the youth division of the Real Estate and Housing De- velopers’ Association Malaysia, in partnership with Nippon Paint Malaysia. EdgeProp.my was the offi cial media partner. On the panel were director of SPARK Architects (Singapore) Ste- are designing the facilities for. We phen Pimbley, IKEA Southeast Asia need to have this conversation from head of sustainability Dr Lee Hui day one to make sure it does not Mien, and Ho & Partners Architects end up a soulless city or a white Engineers & Development Consult- elephant. ants Ltd (Ho & Partners) deputy “In order to ensure that the city managing director Nicholas Ho. has a soul, we need to relate it with While the smart city concept has (From left) Au, Ho, Lee and Pimbley sharing their thoughts on the smart cities concept and its future the local culture and history. It yet to become a reality, Ho sees it needs to be inclusive and relevant taking shape as diff erent compo- to the local community. At the end nents of smart cities have been in- What is your ideal city of the future? of the day, the key to a successful troduced in countries such as Hong city is the people and the commu- Kong, Singapore, China and the US. nity,” he stressed. “When people hear the con- We are Meanwhile, global home fur- cept of smart cities, they may get nishing retailer IKEA encompasses over-excited. It is a bit daunting as moving towards smart solutions in its 12 sustain- well, but it can improve people’s a shared ability principles. And given the lives by raising effi ciency and mak- disruptive backdrop of rising business cost, ing them happier and healthier. It economy. We it is imperative that we learn how is not an overnight project — it re- to do more with less, said IKEA quires collaboration with the gov- hope we will Southeast Asia’s Lee. ernment. It can be done bit by bit see different “Sustainability simply means but someone has to start to get it topologies of we have to be more effi cient and rolling,” he said. design. People to learn to do more with less. As Certainly a new idea or concept the world population increases, takes time to be realised as it will will need a demand will always be increasing need all the relevant stakehold- higher quality of at a faster rate than supply. Supply ers to embrace and understand life. — Ho of raw materials will always go up the concept before it can be im- and if we don’t learn to be eff ec- plemented. tive and effi cient, eventually the SPARK’s Pimbley cited a con- increase in cost will never be able ceptual project by him known as to produce revenue,” she said. HomeFarm as example. Th e senior On the issue of sustainabili- housing concept combines two ide- I think we will ty, the panellists also gave their as — food creation and aged care views on the growing trend in ur- living. Although the idea has been slowly see the end ban farming. Ho noted that urban presented to the Singapore govern- of the mega city farming is part of our ecosystem ment, Pimbley explained that “the as the internet and is very intrinsic to the envi- government needs time to break makes most ronment we live in. the concept down into bite-sized “Urban farming is done on a pieces that they can understand”. things possible macro scale in China and the US, “Sometimes, you have this great from anywhere. It will be especially considering the fact idea but it takes a heart surgeon to Cities will become that the farming population has take on this idea. I don’t know a one that is dropped more than 30% in the last lot about smart cities but I prefer places for social secular in three decades. to think about what we have now gathering nature, self- Activities such as urban farming, and how we can use it to make the and places of sustaining he added, can be eco-friendly and city and its spaces more habitable entertainment sustainable in the long run. and enjoyable,” Pimbley added. and self- While IKEA does not have any rather than places generating. urban farming projects per se, Lee Retaining the soul of the of work, while It will be pointed out that a sustainable life- city artifi cial intelligence will replace better than style covers the aspects of energy, Ho also emphasised that when it an unimaginable number of water, waste and healthy living. comes to designing buildings or today with “We champion a lot of ‘grow- cities — be they smart or other- day-to-day functions and jobs. the usage your-own’ [products] and in IKEA, wise — the common denominator Culture, design and recreation will of fewer we have actually enlarged our range is the people. become a key focus of the next of such products. When you grow “When we design smart cities, resources. your own, not only is it therapeu- we are reluctant to go with just the generation. — Pimbley — Lee tic but it also beautifi es the home,” design. We want to know who we said Lee.

EP 14 FRIDAY OCTOBER 13, 2017 • THEEDGE FINANCIAL DAILY FRI GALLERY

PICTURES BY LOW YEN YEING | EdgeProp.my

Malaysian Islamic Development M Putrajaya’s inspiring Department Complex T Located in Precinct 3 of Putrajaya, this complex on r 2.28ha of land was completed in March last year s but was only open earlier this year. There are a total a architecture of four buildings sitting on three plots of land. It r houses 11 agency offi ces. The owner of the building is (S Lembaga Tabung Haji.

BY NATALIE KHOO the Malaysian Islamic Development Depart- ment Complex, Malaysia Energy Commis- utrajaya is one of those places sion Headquarters and Election Commission where once you drive through of Malaysia. Most of the buildings here are the area, it welcomes you with often noticeable from their unique archi- its majestic building structures tecture — for example, the Malaysia Energy and wide clear roads. Known Commission Headquarters is shaped like a officially as the Federal Territory diamond and the Palace of Justice resembles Pof Putrajaya, it is the federal administrative the Taj Mahal. centre of Malaysia. It is important to note According to the offi cial portal of Putrajaya that while Putrajaya is the federal admin- Corp, an agency under the Ministry of Fed- istrative centre of Malaysia, Kuala Lumpur eral Territories, construction of the 4,931ha still remains as the national capital and the new city began in August 1995. It is approxi- country’s commercial and financial centre. mately 25km south of KL and located within There are three Federal Territories in the Multimedia Super Corridor. For those Malaysia — KL, Putrajaya and Labuan. Pu- using public transport, the city is accessible trajaya was originally part of Selangor un- via the KLIA Transit. If you are planning to til 2001. Th e name Putrajaya was given in take a drive there, you can be connected via honour of Malaysia’s fi rst Prime Minister, the Maju Expressway, South Klang Valley Ex- Tunku Abdul Rahman Putra Al-Haj. In the pressway, Damansara- Expressway Malay language, the word “putra” means and North-South Expressway Central Link. prince while “jaya” means success. Some of Putrajaya is divided into precincts from Pre- Shopping Centre — the fi rst shopping cen- dominiums, terraced houses, semi-detached the government offi ces located here include cinct 1 to Precinct 20. tre in Putrajaya — in Precinct 1. Another houses and detached houses. EdgeProp.my the Prime Minister’s Department offi ces, the Putrajaya is also developed as a “City in a shopping mall in the vicinity is IOI City saw condo listings on an average asking price P Ministry of Finance, the Ministry of Foreign Garden” whereby 38% of the area is made up Mall, which opened end-2014. of RM668,333 while terraced houses saw L Aff airs and the Palace of Justice. of parks, lakes and wetlands. Th e remaining If you are looking to stay the night in Pu- an average asking price of RM937,166 as of C Aside from offi ces, there are also places areas are for offi ces, commercial and resi- trajaya, there are some hotels in the area October 2017. Meanwhile, semi-detached S of worship such as the Putra Mosque and dential developments, public utilities and including Pullman Putrajaya Lakeside, houses and detached houses have an aver- im Tuanku Mizan Zainal Abidin Mosque. Beau- amenities. Th ere is also a 600ha man-made Marriott Putrajaya, Palm Garden Hotel and age asking price of RM1.8 million and RM2.9 tiful bridges are also one of the prominent lake that serves as a climate moderator as Shangri-La Putrajaya. million respectively in the same period. features in Putrajaya including the Putra well as for lake activities such as canoeing, Most of the residential developments here However, residents and visitors to Putra- Bridge, Seri Gemilang Bridge, Seri Saujana kayaking and fi shing. are occupied by the government servants jaya admire the place most for its attractive Bridge, Seri Setia Bridge and Seri Wawasan One can also visit the Botanical Gardens, who are working in this area. Some of the buildings — each unique and individually Bridge. Other buildings in the area include Putrajaya Equestrian Park and Alamanda residential developments here consist of con- designed.

PICTURES BY LOW YEN YEING | EdgeProp.my

The interior ceiling design of the Malaysian Islamic Development Department Complex

H H in a a v d e is a FRIDAY OCTOBER 13, 2017 • THEEDGE FINANCIAL DAILY EP 15 GALLERY

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Malaysia Energy Commission Headquarters Menara Prisma This building is also known as the Diamond Building because the shape of the building This 13-storey Grade A MSC-status offi ce building is in Precinct 3 and is owned by n resembles a diamond. First designed in 2005 and completed in 2010, it is built to Pelaburan Hartanah Bhd, a real estate investment holding company and a subsidiary of r showcase the use of sustainable materials and green technologies to cut down energy Yayasan Amanah Hartanah Bumiputera. It also comes with one level of retail space and l and water wastage. The building has been given multiple accolades including being two basement car parks. Among some of the tenants in the building are the Ministry of t recognised as a Green Building Index (GBI) Platinum- and Green Mark Platinum Health, the Razak School of Government and HSBC Amanah Putrajaya. s (Singapore)-certifi ed building.

hed my ice Palace of Justice Putrajaya Corp aw Located in Precinct 3, The Palace of Justice or Istana Kehakiman is home to two Appeal Putrajaya Corp or Perbadanan Putrajaya is the local authority for the Federal Territory s of Courts and six Federal Courts. Previously, these courts were located at the Sultan Abdul of Putrajaya. It also promotes, stimulates, facilitates and undertakes commercial, hed Samad Building in KL before they moved to Putrajaya in the early 2000s. One might infrastructure and residential developments in the area as well as the economic and er- immediately associate this beautiful structure with the Taj Mahal. social growth of Putrajaya. 2.9

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Heriot-Watt University Malaysia Election Commission Heriot-Watt University is a UK-based university that has set its fi rst Malaysia campus of Malaysia in Putrajaya. The campus costs £35 million (RM193.85 million) to build and can The Election Commission of accommodate up to 4,000 undergraduate and postgraduate students. Sitting on a 4.8- Malaysia is a 10-storey office acre stunning lakeside, it also has the fi rst living-grass roof which shades the naturally tower with three basement ventilated spaces below, reduces thermal transmittance and acts as an observation levels. It is located in Precinct 2 of deck, accessible by glass lift. According to the university’s official website, other Putrajaya. The commission is set environmentally friendly, passive design features include the campus’ lighting which up to ensure fair and equitable is “powered” by the maximum use of natural daylight, a rainwater harvesting system, operations in undertaking the and optimised air-conditioning and thermal control systems. Malaysian general elections and falls under the Prime Minister’s Department. The engineer who worked on this project, Jurutera Perunding Primareka Sdn Bhd, designed it using post-tensioned flat-slab for speedy construction and efficient ceiling space. Taking into account energy efficiency, the façade and roof elements are designed to minimise the impact of temperature and the use of electricity.