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TEP 04 NEWS How are you doing, MHub: Creating a digital property transaction ecosystem ?J OHOR? What is happening to the property market in Johor? Is it picking up? See Pages 8 and 9. Savills: Millennials are changing the Subscribe face of retail to pullout TEP for FREE!

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INSTA-SPOTS14 MISSED OUR Jewel Changi: PAST ISSUES? Singapore’s latest Click/tap here to visit ‘wow’ attraction our digital archive! www.EdgeProp.my EP 2 FRIDAY JUNE 21, 2019 • THEEDGE FINANCIAL DAILY

NEWS HIGHLIGHTS from www.EdgeProp.my

Putrajaya: No cement price Artoca@Setia Alam sold out on launch day increase Cement manufacturers who sent S P Setia Bhd’s latest Starter Home out notices of a cement price in- series, Artoca@Setia Alam, Selan- crease to construction companies gor was fully sold on the fi rst day last week have decided to reverse of its launch recently, said Bandar the decision. Setia Alam general manager Tan Domestic Trade and Consumer Siow Chung. Aff airs Minister Datuk Seri Saifuddin With a GDV of RM60 million, Nasution Ismail told the media Artoca off ers 106 units of 18ft by that the decision was reached at 65ft double-storey terraced homes a meeting on June 18, in which with sizes ranging from 1,499 sq ft cement makers were reminded to to 1,630 sq ft. duly discuss with the government They come in either 3- or 4-bed- of any future price hike as cement room units with three bathrooms. RM494,760 (bumiputra units). those looking for an upgrade is a price-controlled item. The Edge Property Sdn Bhd The freehold properties that come Tan said the Starter Home series of their living space, a chance (1091814-P) “They [cement makers] stat- with a column-free car porch are was fi rst launched in 2018 to give to own a landed residence in a Level 3, Menara KLK, ed several grounds to justify an No. 1 Jalan PJU 7/6, Mutiara available at a starting price of both first-time homebuyers and thriving community. Damansara, 47810 Petaling Jaya, increase in cement price due to Selangor, costlier imported materials used in making the cement because of the Get BREAKING Pedestrian walkway Damansara Realty weak ringgit. EdgeProp.my PROPERTY “However, following the meet- for Johor causeway partners state to NEWS delivered Managing Director/Editor-in-chief ing, they agreed to not increase to you daily via The Johor government plans to develop 50-acre plot Au Foong Yee cement prices,” said the minister. WhatsApp! build a dedicated pedestrian walk- in Negeri Sembilan EDITORIAL way on the Johor Causeway to Wood- Executive Editor Sharon Kam TO SUBSCRIBE lands in Singapore as a safety meas- Damansara Realty Bhd is part- Assistant Editor Tan Ai Leng IKEA’s Toppen Deputy Chief Copy Editor Shopping Centre 1. Add +6018 290 2116 ure due to severe traffi c congestion, nering the state investment James Chong to your contact according to a recent news report. arm of Negeri Sembilan — the Senior Writer to open in list as EdgeProp State Public Works, Infrastruc- Menteri Besar Negeri Sembilan Rachel Chew Writers November News. Or scan ture and Transportation Committee (Inc) or MBNSI — to jointly devel- Natalie Khoo, Shawn Ng, IKEA Southeast Asia’s latest shop- this QR code. chairman Mohd Solihan Badri said op a RM771 million mixed devel- Chin Wai Lun, Chelsey Poh 2. Send us a WhatsApp with Art Director Sharon Khoh ping centre, Toppen Shopping Cen- the state government sees a need opment in Bandar Sri Sendayan, Senior Designer Jun Kit tre in Tebrau is set to open its doors "NEWS" and your full for such a walkway after finding Negeri Sembilan. Designer Rajita Sivan to the public in November this year. name in the message. that many are taking the risk of In a recent filing with Bursa For New Launches/Events/ Shopping Centre & Mixed Use crossing over by foot in a bid to Malaysia, Damansara Realty said it Press Releases/News Tips director of IKEA Southeast Asia such as Ben’s Independent Grocer beat traffi c congestion. has accepted a letter of award from email: [email protected] Christian Olofsson said the take- (B.I.G); The Pantheon, 9 to 9 and According to him, an estimat- MBNSI for the joint development Tel: (03) 7721 8211 Fax: (03) 7721 8280 up rate for the mall’s 1.1 million sq Concept Haus. ed 215,000 people used the Johor project, which will be on a 50-acre ADVERTISING & MARKETING ft of net lettable space has reached The mall is expected to attract Causeway to cross over (one way) last commercial land owned by MBNSI. Associate Account Director, Advertising & Marketing over 85% to date. 15 million visitors in 2020, not only year, of which 60% were pedestrians. The project will comprise shoplots, Heidee Ahmad (019) 388 1880 The company’s head of leasing from but also from the The proposed 1.2km covered commercial podiums and residen- Senior Account Manager Southeast Asia of Ikano Centres, southern region of Malaysia and walkway, which is estimated to cost tial units. Ian Leong (012) 359 1668 Cecilia Too (012) 319 7666 Part of IKEA Southeast Asia, Ar- Singapore, apart from bringing in around RM15 million, will be built The development profi t attributa- Account Manager noud Bakker said the mall would thousands of businesses and job on the existing motorcycle lane on ble to MBNSI under the partnership Joane Tan (012) 377 2885 also feature many firsts in Johor opportunities. both sides of the causeway. is approximately RM100.795 million. Joanne Mok (018) 272 0939

Marketing Support & Ad Trafˎ c Madeline Tan (03) 7721 8218 How do I get past issues of this weekly pullout? email: [email protected] trending Go to www.EdgeProp.my to download for free BUSINESS DEVELOPMENT now Manager Nimalen Parimalam Account Manager Stannly Tan Executive Nurfarah Diyana Mohd Firhad If you have any real estate-related events, email us at [email protected]. LAUNCHES + EVENTS Events listed here will also appear on www.EdgeProp.my. PRODUCT DEVELOPMENT & CUSTOMER ADVISORY Senior Manager Elizabeth Lay Green Build Semenyih, Selangor Raya Celebration Associate Omar Nawawi, at Equine Residence Ayesha Hannah Amer Ezani Conference Contact: (018) 908 7225 Learn tips and tricks to making Date: June 22 & 23 (Sat & Sun) For enquiries and listings 2019: Building your very own jelly candle at Time: 12pm to 6pm email: [email protected] a Sustainable Tel: (03) 7733 9000 Eco Majestic and bring home Venue: Equine Residence Sales Future one of your handcrafted works. Gallery, Persiaran Akademi EdgeProp.my pullout is published by The Edge Property Sdn Bhd. It is Date: June 27 (Thurs) WhatsApp registration and Perdana, Taman Equine, Seri available with The Edge Financial Time: 8am to 5pm admission fee required. Kembangan, Selangor Daily every Friday. The pullout Contact: (03) 2161 2345 is also distributed at more than Venue: One World Hotel, 200 ofˎ ces, shopping complexes, Bandar Utama City Centre, Alam Suria Raya invites the public for sumptuous Beverly Group invites you condos, medical centres and F&B Petaling Jaya, Selangor Rumah Terbuka Malaysian food coupled with to celebrate Hari Raya with outlets in the Klang Valley. You can Date: June 22 (Sat) creative activities such as art- fun fi lled activities, all-time- also download it for free at Contact: (03) 7803 6006 / (03) www.EdgeProp.my 7803 2978 for Pearljit Singh or Time: 11am to 3pm jamming and batik painting. favourite Hari Raya food as well email [email protected] Venue: IJM Land sales gallery, Property buyers could also as Boba milk tea from Tealive! Th e Edge Malaysia Persiaran Puncak Alam 6, explore the Amaryllis and Camelia Organised by GreenRE and Bandar Puncak Alam, three-storey terraced homes. Publisher and Group CEO REHDA Institute, the inaugural Shah Alam, Selangor Ho Kay Tat Green Build Conference 2019 Contact: (03) 3393 3103 Orchid Elegance (GBC 2019) is a forum focused EDITORIAL Enjoy ketupat and rendang at this at The Estate Editor-in-chief Azam Aris on the sustainable built event organised by IJM Land while Date: June 22 to 28 (Sat to Fri) CORPORATE environment with participation being entertained by celebrity Time: 10am to 6pm Chief Operating Ofˎ cer from various infl uential speakers Lim Shiew Yuin hosts as well as performances by Venue: The Estate show unit, Tangerine Suites Launch ADVERTISING & MARKETING and renowned industry experts Ayda Jebat and Hael Husaini. 57, Jalan Penaga, Bangsar, and Peranakan Raya Chief Commercial Ofˎ cer who have made an impact in the Kuala Lumpur Date: June 29 (Sat) Sharon Teh (012) 313 9056 sustainable real estate industry. “Art of Raya” Open House General Manager Contact: (012) 466 6683 Time: 10am to 5pm Fong Lai Kuan (012) 386 2831 Date: June 23 (Sun) Make your home bloom with the Venue: Celebration Centre, Senior Sales Managers Jelly Candle Workshop Time: 11am to 3pm majestic elegance of orchids! Sunsuria City, Sepang, Selangor Gregory Thu (012) 376 0614 Lim Sook Chin (012) 205 5986 Date: June 23 (Sun) Venue: Tamansari sales gallery, The Bon Estates Gallery will Contact: (03) 6142 2727 Head of Marketing Time: 2pm to 4pm exit Jalan Batu Arang, Sungai host a stunning display of Join Sunsuria Bhd at the offi cial Support & Ad Trafˎ c Venue: EcoWorld Gallery @ Bakau, Rawang, Selangor rare orchids and off er orchid launch of Tangerine Suites at Lorraine Chan (03) 7721 8001 Eco Majestic, No. 1, Lingkaran Contact: (03) 2727 7550 interior décor ideas to bring Sunsuria City with celebrity chef Eco Majestic, Eco Majestic, BRDB Developments Sdn Bhd colour into your homes. Zam and exciting activities.

EP 4 FRIDAY JUNE 21, 2019 • THEEDGE FINANCIAL DAILY NEWS

MHub: Creating a digital property transaction ecosystem

LOW YEN YEING | EdgeProp.my BY SHAWN NG ing of the Sale and Purchase Agreements. To date, MHub has accumulated more PETALING JAYA: Property transactions are than 12,500 bookings for properties worth often time consuming as they involve var- about RM6.9 billion. ious parties and processes which can take But the trio do not plan to rest on their months or even years to complete. laurels and TRB Ventures is going to em- Th is has prodded entrepreneurial minds bark on a fund raising exercise to fuel its to come up with solutions to reduce time and expansions. complexities by tapping digital technology. One of the expansion plans in the pipeline TRB Ventures Sdn Bhd, the developer of real is to double the number of property devel- estate fi nancial business platform MHub, is opers on the platform in the next 12 months. one of them. Currently, close to 40 developers have The company is co-founded by three subscribed to MHub including major play- friends — CEO Quek Wee Siong, chief expe- ers in Malaysia and Perbadanan PR1MA rience offi cer Jason Ding and business and Malaysia (PR1MA) while properties worth development manager Joshua Ong in 2015. some RM50 billion have been uploaded on Quek has 15 years of experience in sales the MHub Showroom. and marketing; Ong has 10 years of real es- In the near future, the company plans tate and banking background while Ding to release its fi fth app, MHub Buyer, in the has been involved in brand strategy for 15 third quarter of this year. years. With their respective expertise, they The free MHub Buyer app will enable strive to grow MHub into a platform that From left: Ong, Ding and Quek co-founded TRB Ventures in 2015 with the vision of closing those buying from developers that have connects every stakeholder in the entire the gap between each stakeholder in the property transaction ecosystem. subscribed to MHub to conduct their own property transaction ecosystem. credit check, calculate their borrowing ca- Th e idea of MHub came about as a result Towards this end, TRB Ventures has intro- MHub Showroom was the fi rst app in- pacity and receive loan off ers from banks, of Quek’s personal experience of having duced four apps, namely MHub Showroom, troduced by the company in August 2017. It he added. spent months to obtain a loan from a bank MHub Lead, MHub Banker and MHub enables developers to upload details about “We want to make it convenient for prop- when he was buying a house a few years ago. Lawyer. their projects in order to empower their sales erty buyers to be able to do a simple credit “I was struggling to get my loan until a With these apps, the property transaction staff or agents as well as run credit checks assessment without meeting any bank of- close friend of mine, who works in anoth- process could be done in half the time of the on potential buyers and keep track of their fi cers and subsequently know what their er bank, gave me a contact of his colleague conventional way, which usually takes an loan application status. borrowing capacity is, know their buy- and told me to apply for a loan with them. average of six to nine months to complete, MHub Lead, on the other hand, is an ing power and potential offers that they Th en my application was approved in less said Ding. app that allows property developers to as- could get from our partnering financial than a week, which prompted me to think “In a nutshell, we digitise the property sign sales staff or agents to follow up with institutions. that if I didn’t have a friend who is a banker, transaction process. We speed up, simplify prospective buyers. “Th e app will remove the pain and has- then I would have been forced to cancel the and save cost while maintaining security at As for MHub Banker and MHub Lawyer, sle of the fi rst step in [getting] a mortgage. booking of my house,” he told EdgeProp.my. the same time. the former enables bankers to connect with Instead of having appointments or meet- Th e whole idea of MHub is to transform “What we have heard from the property buyers and update their loan application ings with a few bankers just to get info from property transaction from pen-and-paper developers [who subscribed to MHub] is status while the latter informs lawyers when banks, one can do it through the app and to a digital platform while closing the gaps that the timing has been reduced by up to there is a buyer for a property and allows choose from the off ers made by fi nancial between each stakeholder. 50%,” he said. them to schedule appointments for the sign- institutions.” he explained.

Rolling out soon: CSR projects under Dasar Komuniti Negara

SHAWN NG | EdgeProp.my BY SHAWN NG “The objective [of DKN] is to provide a platform for PUTRAJAYA: The government and the private sector is working to roll out their PPRs to engage themselves CSR projects that will enhance the living in healthy activities and be standards of the B40 group and in People’s Housing Projects (PPR), an initiative under empowered to raise their the National Community Policy or Dasar standard of living.” — Wong Komuniti Negara (DKN). At meetings chaired by Ministry of Housing and Local Government (KPKT) deputy secretary general of policy Datuk “However, we don’t want [the aid provided Dr Mary Wong in Putrajaya on June 18, to the B40 group and PPRs] to be a one-off representatives from the Ministry of Youth thing that would become a white elephant and Sports, Kuala Lumpur City Hall (DBKL) Wong chairing one of the meetings. DKN serves as a platform for the government to later. I hope that there will be a continuous and the private sector comprising mainly collaborate with all parties, including the private sector, NGOs and individuals to help process which will see the PPR communi- property developers, updates were given on the B40 group and PPR communities by uplifting their livelihood. ties appreciate the facilities and help from their existing and new collaborations with us,” added Wong. selected PPRs. Bhd, EdgeProp.my, Gamuda Land, Henry organisations and individuals to help the Launched in February 2019, DKN is an Among the CSR projects were refurbish- Butcher Malaysia (Mont Kiara) Sdn Bhd, B40 group and PPR communities by uplift- initiative under the National Housing Policy ment of common facilities, a badminton Mah Sing Group Bhd, MKH Bhd, Nippon ing their livelihood and, in turn, transform 2.0 to empower the B40 group and PPR com- outreach programme, and a cleaning and Paint Malaysia, OSK Property, Paramount the country into a better place, said Wong. munities and improve their living environ- waste segregation activity. Property, Sunsuria Bhd, and UEM Sunrise Bhd. “Th e objective [of DKN] is to provide a ment. It is formed by KPKT and supported Th e companies present at the meetings DKN serves as a platform for the govern- platform for PPRs to engage themselves in by EdgeProp.my. that day include Country Garden Pacifi cview ment to collaborate with all parties, includ- healthy activities and be empowered to raise Sdn Bhd, Eco World Development Group ing the private sector, non-governmental their standard of living. This first appeared on www.EdgeProp.my

EP 6 FRIDAY JUNE 21, 2019 • THEEDGE FINANCIAL DAILY FEATURE

BY CHELSEY POH KENNY YAP | THE EDGE KENNY YAP illennial shoppers are poised to become the fu- ture mainstream spend- ers in Malaysia, says Savills Malaysia. In its “Asian Cities MReports — Kuala Lumpur Retail 1H 2019”, Savills Malaysia points out that the millennial population (aged between 19 and 35 years), who are in their prime spending years, is estimated to make up 29% or 9.4 million of the total population in Malaysia. To cater to this emerging consumer group, retail pattern has slowly shifted into a com- bination of both e-commerce and physical stores. “It is a combination of both, providing millennials with in-store experiences along with the ease of shopping online,” the real estate consultancy notes. Gone are the good old days, it says, when a mall could depend on big and popular Suria KLCC mall’s brands to attract shoppers. Instead, food rental is said to and beverage off erings will remain the main have reached a high crowd-pullers, providing venues for social range of RM220 psf as well as economic interaction. per month.

Intense competition More incoming malls are anticipated to further dilute the market in Greater KL (comprising KL city and Klang Valley Savills: Millennials are suburbs) as most malls will be offering similar goods and services. “This means that retailers will continue operating their businesses in a challenging environment,” changing the face of retail the report states. In fact, intense competition from new malls has already led to some older malls suff ering drops in footfall due to their limit- Th ese future malls including Lendlease’s In contrast, neighbourhood malls and cation-specifi c, and does not aff ect less-af- ed choice of retailers and product off erings, The Exchange Mall at Jalan Tun Razak, some recently opened malls have struggled fl uent suburbs. and in some cases, poor management and Pavilion Damansara Heights, Mitsui Shop- to achieve high occupancy rates, mainly due Small and mid-sized neighbourhood maintenance. ping Park Lalaport at Pudu and Pavilion Bukit to the many location choices for retailers to malls of over 20 years old have been able Th e large number of retail spaces in the Jalil will likely hugely impact the perfor- select from. Retailers are taking this oppor- to maintain solid occupancy of above 85%. pipeline, says Savills, have forced mall op- mance of the older and less trendy retail malls. tunity to carefully assess suitable timings Th eir strength lies in their locations, which erators to re-think the key factors that af- and locations for new stores. are all in densely populated areas. Some ex- fect attractiveness of a mall to shoppers, Second line malls struggle Most of the new retail malls opened since amples are Ampang Point, Cheras Leisure including location, connectivity, concept, Average occupancy rate of retail malls in 2017 have been slow in attracting suffi cient Mall, Bangsar Shopping Centre, IOI Mall target market, tenant mix, car park spaces, Greater KL edged up by 0.2% y-o-y to 87.8% number of retailers, resulting in an average Puchong, Subang Parade, Amcorp Mall and security and cleanliness. in 2018. Well-established, prime regional occupancy of less than 80%. Plaza Alam Sentral. In 2018, the total retail supply grew by malls and megamalls continued to enjoy However, the Savills report states that Meanwhile, tired-looking retail malls are 3.1% y-o-y overall in Greater KL, pushing an average occupancy of over 90%. the issue of retail oversupply is usually lo- stepping up by undergoing refurbishment total retail stock up to 64.3 million sq ft and repositioning to meet consumer and of which suburban areas have the highest retailer requirements. share of 82%. The Millennial generation in Malaysia (2010–2018) Due to the large amount of retail supply, Greater KL saw 2 million sq ft of new 3,500 rental growth in non-prime areas have been retail space supply last year bolstered by 2010 2012 2014 2016 2018 limited. Nevertheless, rental levels across all seven new completions, two of which are 3,000 prime retail segments are expected to remain in the city centre while the remaining fi ve stable despite the challenging environment. are in the suburbs. 2,500 Th e prime retail index remained fl at at Th e seven new malls include Parkson M 2,000 227 points in 2018. Prime rents for malls in Square, Puchong (350,000 sq ft); Evo Mall, KL’s Golden Triangle such as Suria KLCC Bandar Baru Bangi (240,000 sq ft); KL Eco 1,500 and Pavilion KL are said to have reached City Mall, Jalan Bangsar (250,000 sq ft); Eko 1,000 a high range of RM220 psf per month and Cheras, Jalan Cheras (600,000 sq ft); Kiara Population (’000) RM110 psf per month, respectively. 163, Mont Kiara (300,000 sq ft); Shoppes at 500 In the suburbs, 1Utama and Sunway Pyr-

Four Season Place, Jalan Ampang (200,000 sq 0 amid recorded the highest average prime ft); and GMBB, Jalan Robertson (109,000 sq ft). rent of RM55 psf per month, while Mid Val- 5-9 0-4

Age 75+ 15-19 10-14 70-74 35-39 30-34 25-29 20-24 55-59 50-54 45-49 65-69 40-44 60-64 ley Megamall commanded rents as high as More malls to come Millennial generation RM80 psf per month. And it looks like new mall openings will SOURCE: DEPARTMENT OF STATISTICS, MALAYSIA continue unabated despite consumers’ Cumulative retail supply Prime Retail Rental Index Average occupancy rates cautious approach to retail spending. In- in Greater KL (2008–2019E) (2005 –2018) in Greater KL (2008–2018) coming mall supply in Greater KL is pro- KL city KL suburbs Greater KL Supply growth 250 jected to increase at a compounded annu- 95% al growth rate (CAGR) of 7.6% from 2018 80 12% Q4/2005 = 100 69 225 to 2022. A total 4.8 million sq ft of lettable 70 64 61 62 10% retail spaces are projected to be completed 60 54 57 200 48 49 8% this year in Greater KL, according to Savills 50 46 42 39 40 175 90% Research. Major projects include Tropicana 40 6% Gardens Mall in Kota Damansara and Cen- 30 150 tral i-City in Shah Alam, which was opened 4% 20 in April. 2% 125 10

By end-2022, Savills Malaysia estimates ft) sq (million space Retail 85% that retail space stock will balloon to 78.4 0 0% 100 2011 2017 2013 2010 2012 2018 2014 2016 2015 2008 2009 2011 2017 2011 million sq ft if all 18 projects currently under 2017 2013 2010 2012 2018 2014 2015 2016 2013 2010 2012 2018 2014 2016 2015 2007 2008 2009 2005 2008 2009 2006 construction are completed on schedule. 2019E SOURCE: SAVILLS MALAYSIA RESEARCH SOURCE: SAVILLS MALAYSIA RESEARCH SOURCE: SAVILLS MALAYSIA RESEARCH

EP 8 FRIDAY JUNE 21, 2019 • THEEDGE FINANCIAL DAILY COVER STORY

BY TAN AI LENG

o news is good news, right? Well, that’s the comment we get from Johor property consultants when asked about the current property Thirst for new market in the state. Despite their cautious stance, it is interesting to Nnote that the southern state has seen property transactions there pick up last year (2018). Th e 2018 Property Market Report released by the National Property Information Centre (Napic) catalysts in revealed that Johor recorded 41,653 transactions worth RM19.33 billion in 2018, an increase of 7.8% in volume and 3.8% in value from the previous year. Th e residential sub-sector constitutes 64.5% of the state’s overall transactions with 26,885 homes worth RM8.77 billion, 8% more in volume and 1.5% more in value than the previous year. Th e agriculture sub-sector was next with 20.7% market share, followed by the commercial sub-sec- tor (8.4%), development land (4.3%) and industrial sub-sector (2.1%). Rahim & Co (Johor) International Sdn Bhd di- JOHOR rector Loo Kung Hoe says although the market is not as active as it was during the boom in 2013, local Johoreans are still keen to own homes, hence some projects have attracted purchasers with some even seeing overnight queues.

“Own-stay local buyers are still keen on buying and don’t mind queuing overnight for houses that meet their budget.”

LOO KUNG HOE LOO — Loo

“Landed homes remain the preferred choice for Johoreans. Th ey will buy if the property meets their budget, is in a location of choice and comes with facilities or lifestyle features,” he adds. For instance, S P Setia Bhd’s Elata Vita @ launch in June 2017 saw buyers queuing up a day before the launch for the dou-

ble-storey terraced houses which were selling from SUHAIMI YUSUF | THE EDGE RM588,588. According to a news report, the 138-unit project was 90% taken up on the launch day itself. The increasing number Serimbun features 215 units of double-storey ter- were more transactions last year compared with the In February, 2018, Serimbun, a landed residen- of Malaysians who raced homes with built-ups ranging between 1,993 previous year comprising mainly landed houses. tial development by UEM Sunrise Bhd in Iskandar commute to work sq ft and 2,117 sq ft with prices from RM630,000. Most buyers were Johoreans or Malaysians work- Puteri was launched and 74% of its units were tak- in Singapore has Th e project had received 1,500 registrations of in- ing in Singapore, he says. en up within a month. supported Johor terest before the launch. “The good news is we didn’t see significant Bahru’s residential Early this year, UEM Sunrise unveiled increase of new auction cases or fi re sales. Th is property demand. Aspira Park Homes in with built-ups means that the owners still have strong holding ranging between 1,931 and 2,012 sq ft. According to power,” adds Tan. news reports, the 162-unit, double-storey freehold Johor homes with the highest terraced houses were priced from RM599,000 and Terraced houses: the best sellers transaction numbers in 2018 by types they have been 80% taken up so far. According to Napic’s data, terraced houses dom- inated sales, making up 50.7% of total residential CONDO / SERVICED LOCATION UNITS AVERAGE PRICE AVERAGE RESIDENCE (RM PSF) BUILT-UP (SQ FT) Growth supported by Johoreans transactions in the state last year (6,048 single-sto- Oregeon Property Consultancy director Kok Chin rey terraced houses and 7,596 double-storey ter- Villa Krystal Bandar Selesa Jaya, JB 71 281 844 Yee concurs that the Johor property market is being raced houses). Palazio Taman Mount Austin, JB 70 432 577 supported by local buyers for their own occupancy. In terms of new launches, two- to three-storey Sri Akasia Taman Tampoi Indah, JB 67 292 1,021 Meanwhile, property investors are shying away terraced houses formed the bulk, accounting for TERRACED HOUSE LOCATION UNITS AVERAGE PRICE AVERAGE LAND from the high-end segment, he observes, noting 63% or 5,859 units in total. (RM PSF) AREA (SQ FT) that high-rise residential prices are fl uctuating in Th e performance of the primary market was Taman Seri Impian 246 226 1,848 an unpredictable trend in terms of asking prices promising as the numbers of newly launched Taman , JB 243 366 1,655 and market value. homes increased to 9,294 units in 2018 com- “Some developers who need cash will bring pared with 7,926 units in 2017. Sales achieved Bandar Putra IOI 219 214 1,534 SEMIDEE LOCATION UNITS AVERAGE PRICE AVERAGE LAND down the average selling price of their high-rise were also encouraging at 45.5% compared with (RM PSF) AREA (SQ FT) homes. For example, a high-rise residential de- 44.2% in 2017. velopment in Johor Bahru which was selling at However, the residential overhang continues Taman Bukit Indah Iskandar Puteri, JB 356 367 1,669 RM650 psf a few years back is now off ering the to increase. Last year, there were 6,066 completed Bandar Putra IOI Kulai 294 220 1,559 units there at a big discount of around RM300 psf but unsold units worth RM4.61 billion, an increase Taman Seri Impian Kluang 281 229 1,846 for cash buyers,” he says. of 38.6% in volume and 61.2% in value from 2017. BUNGALOW LOCATION UNITS AVERAGE PRICE AVERAGE LAND (RM PSF) AREA (SQ FT) KGV International Property Consultants Sdn Bhd Aff ordability is the issue, says Oregeon Proper- executive director Samuel Tan says buying senti- ty’s Kok. “Most local buyers are looking for prop- Taman Yayasan 18 95 4,801 ment has remained sluggish, with a majority of de- erties priced between RM250,000 and RM450,000 Kluang 15 39 3,088 velopers trying to clear existing stocks. Th ere were so, areas like , , Masai and Taman Bandar Putra IOI Kulai 9 154 14,437 only a few exciting launches in 2018, he laments. Johor Jaya with off erings in this price range did SOURCE: EDGEPROP.MY & NAPIC Nevertheless, on the secondary market, there well last year,” he says. FRIDAY JUNE 21, 2019 • THEEDGE FINANCIAL DAILY EP 9 COVER STORY

New tourist attractions needed Th e cancellation of the Kuala Lumpur-Singapore High Speed Rail (HSR) and the deferment of the Rapid Transit System (RTS) Link to September this The top ˎ ve most popular year have dampened investor interest in properties in Johor, the real estate consultants say. In terms of tourism activities, Tan of KGV Inter- areas in Johor for homebuyers national opines that besides Coast, existing theme parks such as Legoland in Iskandar Puteri and Sanrio Hello Kitty Town in Nusajaya are losing SOURCE: EDGEPROP.MY & NAPIC momentum, hence the state needs new attractions MALAYSIA or activities to draw tourists. 8,000 With the market in limbo, lacking fresh cat- 7,000 alysts, some property developers are taking the opportunity to expand their landbank for future 6,000 development, says Tan. Areas that developers are looking at include 5,000 Tebrau, Plentong, Iskandar Puteri and Batu Johor Bahru where there are high demand for landed houses Pahat 4,000 Skudai and commercial units. JOHOR 3,000 Masai Skudai Pasir 2,000 Gudang volume Transaction 1,000 Johor Masai 0 Bahru SINGAPORE 2012 2013 2014 2015 2016 2017 2018 EdgeProp.my 1 2 2018. In comparison over in Setia Tropi- Johor Bahru Skudai ka, which is 25km away, prices of the According to EdgeProp.my data, Johor Skudai, which lies southwest of JB has terraced houses there are at an average Bahru (JB) recorded the most number of recorded 1,703 transactions. Terraced of RM594,461 or RM363 psf. LOW YEN YEING LOW | MOHD NAZAM | THE EDGE MOHD IZWAN property transactions in Johor for 2018. houses made up 70.5% (1,201 of total “There aren’t “Local buyers JB, the capital of the southern state, units) while 13% were high-rise homes many catalysts are looking tops the list with 3,740 transactions of (232 units). 4 Batu Pahat that could for properties which over 60% (or 2,250 units) of the Part of the new growth corridor of catch investors’ priced transactions were terraced houses while southwest Johor, Skudai is also home to Batu Pahat district with 1,010 transac- attention and between 20% or 760 units were condominiums. Universiti Teknologi Malaysia (UTM). tions last year is located 125km away Administered by the Johor Bahru Tan from KGV International says from JB city centre. Bordering Segamat boost market RM250,000 City Council, JB covers the well-devel- Skudai is popular among middle-in- to the north, Kluang to the east and demand.” and oped central district (areas close to the come homebuyers and its growing pop- to the west, Batu Pahat was upgraded to — Tan RM450,000.” Johor-Singapore Causeway), Kangkar ulation has led to a vibrant property town status in 2001. It is known for its — Kok Tebrau, , Larkin, Majidee, Maju market there. small and medium industries such as Jaya, Mount Austin, Pandan, Pelangi, Unlike JB city centre where land is textile, clothes and electronics. , , Rinting, scarce, Skudai, which is 15km away from According to Kok, growing business Tampoi, Tasek Utara and Tebrau. JB still has parcels of land in Mukim activities and population in Batu Pahat Johor property market Notably, the largest IKEA furniture store Pulai that could provide new residential are boosting the demand and property — Transaction volume in Southeast Asia is located in Tebrau. developments. prices in this town. Some properties, he Kok from Oregeon Property says JB, Local buyers, says Tan, like Skudai notes, are even selling at prices as high 60 The market has seen which includes Pulai and Tebrau, off ers for its proximity to the Johor-Singapore as those in JB. variety in terms of property types, from Causeway (20km) and the Malaysia- For instance, the average transac- some improvement7.8 10.9 after dipping for three low-cost to high-end and from landed Singapore Second Link (12km). tion price of terraced houses in Batu years since 2015 to high-rise. Meanwhile, Kok notes that Skudai Pahat is around RM331,069 or RM206 40 “Areas near to the CIQ will remain offers landed houses, especially ter- psf in 2018, higher than the price of sim- Change (%) active due to demand from locals who raced houses at aff ordable prices. Ter- ilar houses in its immediate neighbour intend to work in the neighbouring raced homes in Skudai were sold at an Kluang (average selling price of country. average price of RM416,547 or RM266 RM287,099 or RM175 psf). -3.6 20 “Areas such as , Setia psf while condominium units averaged Tropika, , Bukit Indah, RM302,764 per unit or RM303 psf ac- Mount Austin and Seri Austin have great cording to EdgeProp.my data. 5 -16.1 Pasir Gudang potential and normally top the list for Demand, Kok adds, is also supported -18.5 Transaction volume (’000) volume Transaction 0 those who can aff ord a better living en- by the education element there such as With 949 transactions last year, Pasir 2014 2015 2016 2017 2018 vironment,” he opines. UTM and Southern University College. Gudang made it to the top five most EdgeProp.my transaction data popular areas for homebuyers in 2018. SOURCE: EDGEPROP.MY & NAPIC showed that the average transaction Located 25km from JB, the industrial Johor property market price of terraced houses in JB in 2018 3 Masai town in Mukim Plentong and the im- — Transaction value was around RM470,904 or RM295 psf, mediate neighbour to Masai, is home based on land area. Masai is one of the oldest towns in Jo- to two major seaports — Tanjung Lang- Transaction price for condominiums hor. Lying east of JB, it saw 1,051 trans- sat Port and for shipping of 40 The market has seen some improvement averaged at RM349,114 or RM368 psf in actions last year. of which 43% were ter- commodities and mineral resources. 9.8 2018, based on built-up size. raced houses (451 units) and 17% or 178 Despite the recent incidents of riv- after dipping for three 3.8 Meanwhile, Tan from KGV Interna- transactions were condominium units. er pollution, Kok says Pasir Gudang is 30 years since-4.3 2015 tional says the opening of the R&F Mall Kok says Masai has seen a rising num- still one of the most preferred areas for Change (%) -10.2 in Tanjung Puteri, Johor Bahru, and ber of new developments especially homebuyers who work or has business- upcoming new housing developments in , Taman Megah Ria and es in the area. 20 in JB have limited impact on property where aff ordably-priced Pasir Gudang has seen 835 units of buying interest as individual aff orda- homes attract homebuyers from the terraced houses change hands in 2018, bility remains an issue. surrounding areas as well. with an average price of RM282,384 or 10 Upcoming launches in JB include According to EdgeProp.my data, ter- RM234 psf.

-34.5 Central Park @ Tampoi, Brio Residenc- raced houses in Masai were sold at an Meanwhile, there were 10 high-rise Transaction value (RM billion) value Transaction es @ Paradigm Mall JB and Twin Tower average price of RM345,004 per unit or homes sold at an average transaction 0 2014 2015 2016 2017 2018 Residence in Bukit Chagar. RM223 psf based on land area size in price of RM119,300 or RM109 psf in 2018.

SOURCE: EDGEPROP.MY & NAPIC EP 10 FRIDAY JANUARY 21, 2019 • THEEDGE FINANCIAL DAILY PROPERTY MANAGEMENT — Ask the experts

We recently formed a Management Corporation (MC). Is there any reference What areas should we focus on? about how much

lease refer to S.59 SMA 2013 and focus on the the defect liability period as stipulated in the Sale should be spent on duties and powers of the MC. They are: and Purchase Agreement, the newly formed MC security, electricity and the • to properly maintain and manage the is to carry out the defect inspection on the common repainting of the building? P subdivided building or land and common properties thoroughly to ensure that the common property; properties are in good condition before the expiry here is no provision in the Strata • to determine and impose charges and contributions of the defect liability period. Management Act 2015 about the for the maintenance and sinking fund account; Apart from that, the newly formed MC shall revisit the amount to be spent on security, • to comply with any notice or order given or made budget proposed by the developer during the fi rst annual electricity and the repainting of the by local authorities requiring the abatement of any general meeting in order to ensure that the monies paid T building. The MC may refer to the nuisance on the common property, or ordering repairs by the owners are utilised eff ectively. audited account during the or other works to be done in respect of the common Developer’s Management property or other improvements to the common Period and annual budget property; and proposed by the developer • to collect contributions to the sinking fund as a guide and make from the property owners of an amount necessary adjustments as equivalent to 10% of the maintenance deemed fi t. charges. The MC’s main function is to ensure the CHRIS TTAN owners’ safety, health and enjoyment of the Managingg parrtner and foundeer units and common property as well as to of Chur AAssocciates; EdgePropp retain and add market value to the units. Malaysia’s Besst Managed Property Awards 2019 judge and EdgePProp.my If the MC’s management period is during Symposiuum onn Exceellent Propperty Managemment 2019 speaker

If you have any questions regarding property management, please email [email protected]. Disclaimer: The answers are only proposed Scan for solutions by the expert based on the limited Questions will be answered at the discretion of the editor and the respective experts. hassle-free information given in the questions. maintenance

NEWS Residents of US pig farming state kick up a stink over property rights

BY CAREY L BIRON A farm in North WASHINGTON: From not being able to Carolina. The hang laundry outside or have friends over roughly 10 million for a barbecue to health problems, residents pigs in the state of the US state of North Carolina are having produce roughly their lives disrupted by large industrial pig 9.5 billion gallons of farms, said a lawsuit fi led on Wednesday. faecal waste a year. Communities in eastern North Carolina, the United States’ second-largest pork pro- ducer and one of the densest hog farming areas in the world, have for years complained about the smell and pollution caused by the animals’ faecal waste. But state laws passed in 2017 and 2018 curtailed their ability to fi le multi-million dollar lawsuits — so-called “nuisance or-

ders” — against the farms. ECONOPOULY DAVID On Wednesday, environmentalists and community groups fi led a lawsuit seeking to they can’t hang their laundry outside or have lons of faecal waste a year, according to those the long-term impact of nuisance lawsuits overturn those laws by arguing they violated friends over for barbecues, advocates told behind the lawsuit. on rural communities where “agriculture property rights and the state’s constitution. the Th omson Reuters Foundation. Th e waste is stored in vast open cess- is critical to economic growth and success”. “How is it that the state can take away my “All of these things ... really result in se- pools until it can be sprayed onto nearby Starting in 2013, hundreds of nuisance community’s ability to protect our homes verely diminished enjoyment of one’s prop- fi elds as fertiliser. orders were fi led and juries awarded tens and health?” said Devon Hall, co-founder erty,” said Will Hendrick, a staff attorney with A Duke University report in September of millions of dollars in compensation be- of the Rural Empowerment Association for Waterkeeper Alliance, an advocacy group, found a range of health conditions associated fore the state legislature passed two laws Community Help, one of the plaintiff s. and party to the suit. with people living near large hog operations restricting such suits, said Hendrick. A spokeswoman for the North Carolina “It’s long been considered that a man’s in eastern North Carolina, including higher Th e fi rst capped the amount that can be attorney general declined to comment on the home is his castle, but this waste is breach- mortality rates, but said the exact causes of awarded under nuisance claims, while the lawsuit, as did a spokeswoman for Smithfi eld ing the castle.” the ailments were unclear. second strictly limited the circumstances Foods, a major hog producer in the area. Th ere are about 10 million pigs in North Th e North Carolina Pork Council, an in- under which such suits can be brought. Residents say the stench can be so bad Carolina producing roughly 9.5 billion gal- dustry group, has expressed concern about — Reuters FRIDAY JUNE 21, 2019 • THEEDGE FINANCIAL DAILY EP 11 EP 12 FRIDAY JUNE 21, 2019 • THEEDGE FINANCIAL DAILY FEATURE

Kebun-Kebun Kerinchi is located just opposite the main entrance of the Pantai Eco Park.

BY NATALIE KHOO terfronts by British online news portal any of us may be Th e Independent. familiar with the Th e main aim of KKK however, is to story of Kebun-Ke- help residents in the area. bun Bangsar (KKB) “If you look around this area, there spearheaded by are more than 4,000 units of low-cost landscape architect fl ats. Th e homes look good from the MNg Sek San and his team of volunteers. outside but there are a lot of desperate Located on an 8.5-acre hillslope in families living in there. Bangsar, Kuala Lumpur, KKB was a “Sometimes, when we visit them (the community garden project inspired families), they are eating unhealthily, by the thousands of fl ags, in blue, red, fi lling their stomachs with biscuits and yellow and white, the colours of Parti bread for dinner. I don’t know if we can Keadilan Rakyat (PKR), which were generate income for them in the long planted across Bangsar. run, but we are hoping that we can help This was the “Malaysian Spring” them through initiatives such as teach- of 2013, and the fl ags were planted in ing them how to grow vegetables which support of PKR candidate Nurul Izzah we can also help them to sell or teach Anwar, as part of a community project. them how to make compost for sale Ng, at the time, proposed that instead as well,” Ng tells EdgeProp.my, adding of planting short-lived fl owers, it would that the residents here can grow their be more benefi cial to create something own vegetables here, to take home for more permanent. consumption. KKB is now thriving and Ng has gone Th e current site of KKK was actu- on to help set up Kebun-Kebun Kerinchi ally the alternative site for KKB that (KKK) not far from Bangsar in early Ng’s team had earlier identifi ed, just March this year. Currently, Ng and his in case KKB was not able to proceed team have started planting diff erent due to the protests faced when it was vegetation in metal planter boxes at being conceptualised. the community garden. Th e team has “One of our struggles here [in KKK] also placed huge empty containers just is that the soil is nothing like in KKB, as below the New Pantai Expressway to the [ground surface] is all engineering collect rainwater which can be used construction material. Th us, we have to water the plants. to bring in a lot of soil from elsewhere. Unlike KKB, Ng says KKK intends However, the advantage here is that you to uplift the lives of the residents liv- can plant trees, unlike in KKB where ing in Kampung Kerinchi. Located just there were electrical lines,” Ng notes. opposite the main entrance of Pantai Th is project is currently funded by Eco Park, Ng shares KKK does not have Th ink City, an urban rejuvenation or- a specifi ed boundary. It basically con- ganisation under stitutes the land along the Klang River Bhd which seeks to increase the well- reserve that leads all the way to Klang, being of communities by creating more Selangor. sustainable and liveable cities. “We can even go across to the other “We started on the easy part fi rst, side of the river if there are families who where we work with various low-cost want to take up the land [for this pro- flat management committees here. ject]. We are hoping to move towards Kebun-Kebun Our mission is to hand over KKK to the River of Life [to the north], so that residents in two years’ time. those visiting the River of Life can also “We have to hire full time workers for visit KKK,” says Ng. this site later so this will eat up funds Th e River of Life rejuvenation pro- Kerinchi, very quickly. We have all these high- ject of the Klang River in Kuala Lumpur ways to provide shelter [to the users] was launched in 2012 by Kuala Lumpur and we are also considering seating ar- City Hall as part of the former govern- eas and a playground for the children ment‘s Economic Transformation Pro- a garden to feed to play. We are trying to bring in some gramme. Th e US$1.3 billion (RM5.46 architectural design input so that these billion) project has even made it to are not just conventional playgrounds the list of the World’s Top 10 best wa- body and soul but instead, working with the existing structures here,” Ng explains. Th anks to the original team mem- bers who started the KKB initiative as well as some generous contributions from the public, things are developing

EdgeProp.my on track for KKK. Volunteers show up every Sunday fortnight to “gotong-roy- ong” together while those who cannot be there physically help in other ways such as donating materials for the KKK project. “Th ey [the residents] here were in a bit of a shock initially at seeing this pro- ject. It is only when they started seeing PICTURES BY LOW YEN YEING PICTURES BY LOW | the containers being brought in that they knew we were serious about this. “Even as we talk now, there are other neighbourhoods who have visited and were inspired by KKB including Taman Desa, Medan Damansara, Setiawang- sa, Sri Hartamas and Pematang Pauh which have indicated they would like to start similar eff orts. Ng: New housing estates today “Many housing estates today create separate rather than bring people more separation than bringing people Kebun-Kebun Kerinchi constitutes the land along the Klang River reserve that leads all the way to together. We hope to change that with together. We hope to change that with Klang, Selangor. projects like these. projects like these,” Ng concludes.

EP 14 FRIDAY JUNE 21, 2019 • THEEDGE FINANCIAL DAILY INSTA-SPOTS

Upon setting foot into Jewel, visitors are greeted by the majestic 40-metre high HSBC Rain Vortex, set amidst the lush Shiseido Forest Valley. PICTURES BY JEWEL CHANGI AIRPORT DEVELOPMENT

Jewel Changi: Singapore’s latest ‘wow’ attraction

BY CHIN WAI LUN a vibrant marketplace, dramatically extending the concept of an airport to Discovery Slides is a structural ewel Changi Airport was of- serve as an urban centre, engaging trav- playscape with four slides, ficially opened to the public ellers, visitors, and residents; echoing offering panoramic views of the on April 17 this year. The latest Singapore’s reputation as ‘The City in Canopy Park at its 6.5-metre addition to the Singaporean the Garden’,” Moshe Safdie at Safdie high viewing platform. retail and architectural scene Architects described in a recent press is a photographer’s paradise. release. JTh e toroid-shaped building is located “Jewel demonstrates the potential in between the two airport terminals of for urban centres that offer the vitality Changi Airport. With some S$1.7 billion of the traditional city square or galleria (RM5.18 billion) invested, construc- within a park setting. As an integrated tion began in December 2014 with whole, it creates a new typology — the structural works being completed transforming the airport’s principal in 2017. function as a transit hub into that of Since its opening, travellers through an interactive civic and urban centre,” the airport have made it a priority to said Safdie. stop by here to visit the mall to admire Meanwhile, head of projects at Jew- what the state-of-the-art building has el Changi Airport Development Ashith to offer. Alva said the goal in designing Jewel Based on the geometry of a torus, was to house a myriad of experienc- Jewel is designed as a central connec- es all under one roof and to provide a tor between the airport terminals at seamless travel experience for the mil- Changi Airport. Jewel is directly ac- lions of people that pass through Changi cessible from the Terminal 1 Arrival Airport each year. Hall and connected to Terminal 2 and “To achieve this ambitious project, 3 via link-bridges. we brought together a team of vision- aries and experts — a consortium led The design and by Safdie Architects and partners; RSP architectural vision Architects Planners & Engineers, Buro- “Jewel Changi Airport juxtaposes the Happold Engineering, Lighting Planner centre of being in nature and enjoying Architects and Benoy. FRIDAY JUNE 21, 2019 • THEEDGE FINANCIAL DAILY EP 15 INSTA-SPOTS

Key design features of the Jewel Facade The dome-shaped roof facade utilises a glass material that has the dual ability of transmitting light and reducing heat gain, thus enabling plant growth in the indoor gardens while providing sustainable cooling. Each glass panel also has a 16mm air gap to insulate Manulife Sky Nets against noise emitted from airplanes is a ˎ rst-of-its- and ensure that noise levels within the kind attraction building are kept to a minimum. Notably, customised a series of tests were conducted to ensure specially for Jewel, that the glare emitted off the glass surface combining two will not interfere with the daily operations concepts — a of air traffi c controllers as well as planes walking net and that are approaching the runways. a bouncing net, which opened on HSBC Rain Vortex June 10. The show-stopper at Jewel is probably its iconic indoor waterfall in the Shiseido Forest Valley. The HSBC Rain Vortex is the world’s tallest indoor waterfall. At Created by artists Andy Cao the apex of the glass roof is an oculus and Xavier Perrot, this glittering that channels water down 40 metres. installation features 16 beautiful Rainwater is funnelled into the waterfall ‘clouds’ that reː ect weather and harvested for landscape irrigation patterns with dynamic lighting systems. The waterfall lies within the sequences. “forest”. Shiseido Forest Valley Housing more than 2,000 trees and 10,000 shrubs sourced from several The HSBC Rain Vortex is the world’s countries, the Shiseido Forest Valley is a tallest indoor waterfall. lush terraced garden that off ers walking trails, cascading waterfalls, and seating areas. “Before they [the trees] were transported to Singapore, many of them had to be pruned to fi t into containers for sea freight. Once they arrived in Singapore, they were nursed back to health at an off -site nursery and acclimatised to Singapore’s tropical weather. The procurement of the trees took approximately nine months and another two years were given for the trees to be nursed locally,” explained Jeremy Yeo, head of User Experience at Jewel Changi Airport Development Pte Ltd in the same press release. Surrounding the garden is a retail marketplace across fi ve levels, accessible through a series of vertical canyons while two nature trails meander through the garden with the rain vortex located in the heart of the valley. Singapore’s largest indoor hedge maze is located at Jewel’s topmost level.