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Make Better Decisions MAKE BETTER DECISIONS FRIDAY JANUARY 29, 2016 ISSUE 2096/2016 A PULLOUT EVERY FRIDAY WITH Read this copy online @ TheEdgeProperty.com MAKE BETTER DECISIONS PP 9974/08/2013 (032820) ep3 NEWS ep7 FEATURE ep8 HOME IDEAS Mixed views on Budget Silicon Valley North fuels Canada Simply red & a touch of gold! 2016 revisions condo boom as Google moves in Penang mainland SeberangSeberang PPeraierai sstilltill hhasas some way to go catching up butbut iitsts ppotentialotential aass a ppropertyr investment spot lookslooks promising.promising. SSeeee sstoryt on pages ep4 & 5. A view of Penang Second Bridge taken in 2014. Photo by Bernama FRIDAY JANUARY 29, 2016 • THEEDGE FINANCIAL DAILY EP2 PROPERTY | NEWS Go to TheEdgeProperty.com for more property news MOST READ ON NEWS ROUNDUP TheEdgeProperty.com KWAP buys KL land with lion lower than the market price for approval of construction of with a built-up area of between potential GDV of RM780 mil of RM72.3 million, based on a projects. 1,036 sq ft and 1,424 sq ft, at an The national retirement fund, valuation by Raine & Horne Inter- “We are now anticipating a re- average of RM750 psf. Kumpulan Wang Persaraan (Diper- national Zaki + Partners Sdn Bhd. duction of approval days from one The development is located Government badankan) (KWAP), has acquired a year to only 60 days. Th is is in line in Jelutong and is accessible via restricts sale parcel of land in Persiaran Stonor, Foreign investors on the with our goal to attract more mul- Jalan Masjid Negri, Jalan Perak, of houses up to Kuala Lumpur from the federal sidelines until ringgit tinational companies to invest in Jalan Free School and the Jelu- RM300,000 to fi rst government for RM140 million slides further, says the Greater KL area by building a tong Expressway, group general house owners, or RM2,578 per sq ft (psf). In a realtor safer, more liveable city with bet- manager Ng Han Seong told re- says Najib statement on Jan 28, KWAP chief Singapore and Hong Kong inves- ter investment opportunities,” he porters on Jan 26. executive officer Wan Kamaru- tors, who largely drive sales in said at a joint press conference Th e Isle of Palm project com- zaman Wan Ahmad said the land Kuala Lumpur’s city centre, are with the Special Task Force to Fa- prises 30 units, each with a built- has a projected gross development waiting for the ringgit to depre- cilitate Business (Pemudah) and up area of 2,155 sq ft between value (GDV) of RM780 million. ciate further before making pur- InvestKL. 3,795 sq ft, he added. — Bernama Spanning 5,048 sq m, the du- chases, said City Crest Realtors Meanwhile, the fi rst phase of al-frontage land is located within principal Darren Khor. He expects the RM4 billion River of Life project Council to upgrade Ipoh old walking distance of Kuala Lum- the market in 1H2016 is expect- was expected to be completed by town to lure more tourists Stagnant market pur city centre, LRT stations and ed to be muted, on poor investor 2018, while the tender process for The Ipoh City Council (MBI) is in Penang keeps future MRT stations. It is also lo- sentiment. the second phase would be com- planning to upgrade the area price growth cated close to the Prince Court Khor believes properties on the pleted by the end of the year, said around Ipoh old town (pic) to at- minimal in 3Q Medical Centre. primary market to continue to sell Amin. — Th e Malaysian Insider tract more tourists to the city in KWAP said the acquisition well if they are located close to the current economic downturn. Upcoming previews of S P IGB REIT declares marks its second purchase of land public transport, shopping malls “The city of Ipoh will not be and its third property in the coun- and offi ces. Setia’s Penang projects exempted from the economic distribution of try. Th e latest addition brings the “Th e property market may sta- Property developer S P Setia Bhd downturn. As such, we must do 3.72 sen per unit number of properties owned and bilise in 2H2016 once the ringgit will launch a preview sale of two something to help generate eco- co-owned by KWAP to 13. KWAP shows no sign of further depreci- new Penang housing projects, Isle nomic growth,” said Mayor Datuk PJ residents currently has seven properties in ation and after careful considera- of Palm Setia Pearl Island in Bayan Zamri Man. want time to Australia and three each in the UK tion by investors on which prop- Lepas and Solok Slim in Jelutong, “Th is city experienced the fall in digest transport and Malaysia. erties would yield good capital in March and May, respectively. the price of tin in the 1970s. But the master plan appreciation and rents,” he said Th e Solok Slim project com- historical value and the identity Selangor Dredging buys on Jan 27 at a briefi ng by Th eEdge- prises two blocks of 33-storey con- of tin ore have a huge potential to USM researchers land in Ulu Klang for Property.com. “When there is con- dominiums. Th e company said it boost the tourism sector,” he told RM450m project invent cementless nectivity and convenience, inves- plans to sell the 550 units, each reporters on Jan 27. — Bernama concrete Selangor Dredging Bhd (SDB) is tors will be more than happy to proposing to develop 588 units of invest in these projects,” he said. residential properties with a GDV of RM450 million on two parcels of KL development approval land it is acquiring in Ulu Klang, process simplifi ed Selangor. Kuala Lumpur City Hall an- The Edge Communications Sdn Bhd In a fi ling with Bursa Malay- nounced on Jan 27 a simplifi ed (266980-X) sia on Jan 26, SDB said its wholly process for obtaining develop- Level 3, Menara KLK, No 1 Jalan PJU 7/6, Mutiara Damansara, 47810 Petaling Jaya, owned subsidiary SDB Properties ment approvals in the Greater Selangor, Malaysia Sdn Bhd had signed an agreement Kuala Lumpur area. with Alam Palma Development It covers procedures for small- Sdn Bhd to acquire the two parcels scale and non-residential projects. Publisher and Group CEO Ho Kay Tat of freehold agricultural land total- Mayor Datuk Mhd Amin Nordin ling 4.097 ha for RM67.5 million. Abdul Aziz said the new process Editorial For News Tips/Press Releases Th e purchase price is RM4.8 mil- would reduce the time required Tel: 03-7721 8219 Fax: 03-7721 8038 Email: [email protected] Senior Managing Editor Azam Aris Contributing Editor Sharon Kam If you have any real estate-related events, email us at [email protected]. Editor Rosalynn Poh LAUNCHES & EVENTS Events listed here will also appear on TheEdgeProperty.com. Deputy Editors E Jacqui Chan, Wong King Wai Assistant Editor Lam Jian Wyn Senior Writer Racheal Lee Mah Sing CNY Party Date: Feb 13 to Mar 6 Time: 2pm to 5.30pm and how to get started with the Writers Chai Yee Hoong, Date: Jan 30 (Sat) Time: 9am to 9pm Venue: MIEA Secretariat, Unit transition. Registration fee applies. Rachel Chew, Hannah Rafee, Time: 3pm to 6pm Venue: No. 1, Lingkaran C-27-05, Dataran 3 Dua, No.2 Jalan Tan Ai Leng, Natalie Khoo, Ewe Shufei Venue: Garden Boulevard Eco Majestic, Eco Majestic, 19/1, Petaling Jaya, Selangor IOI Properties CNY Art Director Sharon Khoh Sales Gallery, Cyberjaya Semenyih, Selangor Contact: (03) 7960 2577 Celebrations Design Team Cheryl Loh, Contact: (012) 211 7554 Contact: (03) 8723 2255 Chartered Financial Consultant KP Valerie Chin, Aaron Boudville, Organizer: Mah Sing Group Eco World Development Group Bhd’s Bose Dasan will provide an insight Aminullah Abdul Karim, Start your Chinese New Year Eco Majestic opens its doors to its into taxation matters related to Yong Yik Sheng, Tun Mohd Zafi an Mohd Za’abah, Noorain Duasa celebration early with Mah Season’s Flower Show. There will be Limited Liability Partnership. The Sing Group in Cyberjaya with beautiful fl ower beds and a series seminar is open to real estate Corporate a fortune feast and enjoy the of fun activities for all in the family. agents and interested members Managing Director Au Foong Yee double lion dance performance. of the public. This is part of the Deputy Managing Director Lim Shiew Yuin FIABCI Morning Talk 2016: Real Estate Professional Seminars Season’s Flower Show by International Property organised by the Malaysian Advertising & Marketing Eco Majestic Measurement Standards Institute of Estate Agents. To advertise contact Date: Feb 3 (Wed) Participants will need to register GL: (03) 7721 8000 Fax: (03) 7721 8288 Time: 8am to 10.30am online and pay a registration fee. Chief Marketing Offi cer Venue: Dewan Berjaya, Bukit Sharon Teh (012) 313 9056 Kiara Equestrian & Country The ISO 9001:2015 – General Manager, Digital Media Resort, Kuala Lumpur Enhancing customer Kingston Low (012) 278 5540 Senior Sales Managers Contact: (03) 6203 5090 satisfaction and quality Geetha Perumal (016) 250 8640 The talk will be given by performance Fong Lai Kuan (012) 386 2831 Professor Dr Ting Kien Hwa, Date: Feb 4 (Thurs) Date: Jan 30 (Sat) Peter Hoe (019) 221 5351 head of Universiti Teknologi Time: 9am to 5pm Time: 11am to 4pm Gregory Thu (012) 376 0614 Creative Marketing MARA’s Centre for Real Estate Venue: Wisma REHDA, No. Venue: IOI Galleria @ IOI Chris Wong (016) 687 6577 Research. Industry players are 2C, Jalan SS5D/6, Kelana Resort City, Putrajaya Head of Marketing Support & Ad Traffi c encouraged to participate.
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