TEP 2 FRIDAY MAY 13, 2016 • THEEDGE FINANCIAL DAILY NEWS HIGHLIGHTS from TheEdgeProperty.com

SHAHRIN YAHYA / TheEdgeProperty.com signed an agreement with Ever Rich’s real estate investment arm, Welcome Global Co Ltd. This was to facilitate the setting up of Sunsuria Everrich Sdn Bhd (SESB), which is 60%-owned by the two Sunsuria units and 40% by Wel- come Global. Ever Rich is engaged in construc- tion and project development and Desa Kudalari condo serviced apartments – formerly the investments in Taiwan and South draws 12 bidders Nomad SuCasa Hotel – is scheduled Korea. It is expected to add value to open in September this year, said with its expertise in the develop- Hua Yang launches The en-masse sale of the 7.35-acre property owner Plenitude Bhd. ment and management of a mall phase 2 of Ridgewood freehold Desa Kudalari condomini- “We have invested RM50 million and boutique hotel in the project. The Edge Property um in the heart of Kuala Lumpur has for the renovation and upgrading Hua Yang Bhd has launched the attracted 12 bidders, according to CH of the Oakwood Hotel & Residence RAM maintains second phase of its residential de- Williams Talhar and Wong Sdn Bhd Kuala Lumpur. The refreshed devel- negative outlook on velopment Ridgewood in Bercham, (WTW) deputy managing director opment will meet the varied needs Perak, which comprises 3-storey Danny Yeo. of leisure and business travellers,” property sector cluster semi-detached homes, Yeo declined to name the interest- Plenitude chairman Elsie Chua said RAM Rating Services Bhd has main- 3-storey linked bungalows and ed bidders, only saying that they were during the partnership signing cer- tained its negative outlook on the 3-storey bungalows, said the com- both local and international firms, emony on May 9. Malaysian residential property sec- pany in a press release. and some of them owned properties Plenitude has appointed Oak- tor as well as the offi ce and retail This phase has a gross develop- and land near Desa Kudalari. wood Asia Pacifi c Ltd to manage and sub-segments in Kuala Lumpur and ment value (GDV) of RM51.5 million, The Edge Communications Sdn Bhd There is speculation that Tan & operate the hotel and residences on this year. with prices for the homes starting (266980-X) Tan Developments Bhd, the devel- Jalan Ampang. In its statement, RAM expects from RM665,000. Level 3, Menara KLK, No 1 Jalan PJU 7/6, , 47810 , oper of Desa Kudalari, may buy back The hotel has been closed for consumer and business sentiment According to Hua Yang’s assistant Selangor, Malaysia the land for redevelopment as its refurbishment since March 2015. to remain muted amid a slowing general manager Tony Ng, Ridgewood offi ce is located right next to it. The 22-storey project will comprise economy while lending conditions is one of the last few pockets of resi- Besides Tan & Tan, developers who 252 units of serviced apartments, 72 are likely to stay tight. dential developments left in Bercham. Publisher and Group CEO Ho Kay Tat have properties near the area include studio apartments and 180 units of Demand in the property market “The growing population in the EDITORIAL Eastern & Oriental Bhd, GuocoLand one and 2-bedroom hotel suites. had waned last year due to a decel- suburbs of Ipoh has resulted in the Senior Managing Editor Azam Aris (Malaysia) Bhd, Mah Sing Group Bhd, erating economy, softer consumer increased demand for affordable CORPORATE BRDB Developments Sdn Bhd and Sunsuria partners and business sentiment, and tight housing in the area,” he said. Ridge- Managing Director Au Foong Yee KLCC Property Holdings Bhd’s sub- Taiwan fi rm to develop fi nancing conditions. wood is located 12km from Ipoh City. Deputy Managing Director sidiary Layar Intan Sdn Bhd. Residential property transactransac-- Lim Shiew Yuin The interested parties are now Putrajaya land tions contracted 5% year-on-year-on-year required to submit the pricing bid by Sunsuria Bhd has partnered Tai- (y-o-y) in 2015, with a steepereeper TheEdgeProperty.com end-June. wan-based Ever Rich Land Co Ltd to 21% decline for the primaryary How do I get Managing Director Au Foong Yee turn a 3.4ha land in Putrajaya South market. Editor Lam Jian Wyn into a RM694 million theme-de- The aggregate sales off past issues of this Contributing Editor Sharon Kam Oakwood hospitality Assistant Editor James Chong property in Malaysia signed mixed development, said the eight leading developers weekly pullout? Senior Copy Editor company in a fi ling. tracked by RAM also fell Shanthi Murugiah to open 3Q2016 The developer’s indirect subsid- 15% y-o-y. Meanwhile, Go to Writers Rachel Chew, Tan Ai Leng and Natalie Khoo Malaysia’s fi rst Oakwood hotel and iary Sunsuria City Sdn Bhd (SCSB), transaction value retreat- TheEdgeProperty.com and direct subsidiary, Sunsuria ed 10% y-o-y — the fi rst to download for free Art Director Sharon Khoh Gateway Sdn Bhd (SGSB), have drop since 2005. Design Team Nik Edra, Nurul Aida Mohd Noor trending

MARKETING & ADVERTISING Account Director now Sharon Chew (012) 316 5628

Account Manager If you have any real estate-related events, email us at [email protected]. Jayremy Sim (011) 1669 6039 LAUNCHES + EVENTS Email: [email protected] Events listed here will also appear on TheEdgeProperty.com.

NEGOTIATOR ADVISORY SERVICE For enquiries Profi ting from Airport Car GL: (03) 7721 8175/ 8172 his market insights at 2.30pm. Email: propertysupport@ Parking investment seminar bizedge.com Date: May 14 (Sat) Nordica Residences Launch Senior Manager Elizabeth Lay Time: 6pm to 8pm Date: May 14 and 15 (Sat and Sun) Senior Associate Stannly Tan Associate Karen Wong Venue: Roof Top, Binjai Time: 10am to 5pm Associate Kriss Tan 8 Premium Soho, No 2, Venue: Gravit8 Sales Gallery, Oakland Family Fiesta and S P Setia Bhd will launch Lorong Binjai, Off Jalan Jalan Bayu Laut 1/KS 09, Oakland Commercial Centre its first phase of Setia Eco Binjai, Kuala Lumpur Kota Bayu Emas, (Phase 4F) Launch Templer comprising 234 units Contact: (03) 2386 7730 Contact: (016) 623 7301 For New Launches/Events/Press Releases/ News Tips Date: May 15 (Sun) of linked villas, semi-detached Group First International Sdn Mitraland Group will be unveiling Tel: 03-7721 8211 Fax: 03-7721 8038 Time: 10am to 4pm houses and bungalows. Bhd managing director Datuk the Nordica Residences of its Email: [email protected] Venue: Lot 254-G, Lorong Abdul Razak and training and Gravit8 integrated development Haruan 5/6, Pusat Komersial Tiara Imperio Residence Launch marketing manager John Moi in Klang South. There will be The Edge Communications Sdn Bhd Oakland 2, Seremban Date: May 14 and 15 (Sat and Sun) will be sharing their insights into a Feng Shui talk by Master Contact: (012) 392 9945/ Time: 10am to 6pm this niche property investment David Koh on Saturday and a ADVERTISING & MARKETING To advertise contact (016) 330 0888 Venue: Tiara Imperio Sales in the UK. Participants must “meet and greet celebrities” GL: (03) 7721 8000 Oakland Holdings Sdn Bhd is Gallery, No 3, Jalan Damai register to get free admission. session with Orange Tan, Phoebe Fax: (03) 7721 8288 hosting a fun family event in Mewah 1, Taman Damai Mewah, and Jack Lim on Sunday. Chief Marketing Offi cer Melbourne House & Land Sharon Teh (012) 313 9056 conjunction with the launch of Off Jalan , General Manager, Digital Media Oakland Commercial Centre Contact: (016) 203 4863 Property Exhibition Preview of Estana 32 in Kota Kingston Low (012) 278 5540 phase 4, which offers Lifestyle / (03) 8739 3692 Date: May 14 and 15 (Sat and Sun) Damansara Senior Sales Managers Fong Lai Kuan (012) 386 2831 Shops and Flexi Offices. Kueen Lai Properties Sdn Bhd will Time: 10am to 7pm Date: May 14 and 15 (Sat and Sun) Peter Hoe (019) 221 5351 be launching the fi nal phase of Venue: DoubleTree Hotel KL, Level Time: 9am to 5pm Gregory Thu (012) 376 0614 Setia Eco Templer Sohos at Tiara Imperio Residence 10, Pine room, The Intermark, 348 Venue: Estana 32 sales offi ce, Creative Marketing Grand Launch Chris Wong (016) 687 6577 in Kajang. Jalan Tun Razak, Kuala Lumpur Jalan Rimba Riang 9/8, Kota Head of Marketing Support & Ad Traffi c Date: May 14 (Sat) Unit built- Contact: (012) 779 2008 Damansara, Petaling Jaya Lorraine Chan (03) 7721 8001 Time: 8am to 6pm ups range / (012) 208 1693 Contact: (012) 302 2773 Email: [email protected] Venue: Setia Eco Templer from 450 Jalin Realty International / (03) 2287 6612 Sales Gallery, No 1, Jalan sq ft to 638 will be showcasing a list of Prima Paramount Group will TheEdgeProperty.com is published Ipoh-Rawang, KM-20, Taman sq ft with investment opportunities in introduce Estana 32 in Kota and distributed with The Edge Rekreasi Templer, Rawang prices from Melbourne, Australia. Jalin Damansara, which off ers 32 Financial Daily every Friday. For more property data, listings and news, go to Contact: (03) 6092 2288 RM267,000. Realty CEO Ian Chen will share units of 3-storey semi-dees. TheEdgeProperty.com. FRIDAY MAY 13, 2016 • THEEDGE FINANCIAL DAILY TEP 3 NEWS 2016 Mapex Property Showcase targets 25,000 visitors

MOHD IZWAN MOHD NAZAM / TheEdgeProperty.com BY NATALIE KHOO

PETALING JAYA: Th e 2016 Mapex Property Showcase is targeting to have at least 25,000 visitors at the fi ve-day event, the organising chairperson Carrie Fong told Th eEdgeProp- erty.com on Wednesday. Organised by the Real Estate and Hous- ing Developers’ Association Youth Malaysia (Rehda Youth), the 2016 Mapex Property Showcase has the theme “A Better Home for 2 A Better Tomorrow”. It kicked off on Wednes- day and will run daily from 10am to 10pm until this Sunday at the Shopping Centre, Petaling Jaya. Th eEdgeProperty.com is the media partner. According to Fong, the main objective of the event is to provide an opportunity for Rehda Youth and Rehda members to showcase their properties to the public and also to engage with them. Some of the participating developers in 1 3 the event include Mah Sing Group, UEM Sunrise Bhd, OSK Property, Sime Darby 1. Some of the exhibitors at the Property and Genting Property. property showcase “Th e showcase will be carried out in a boutique style at high traffi c locations within 2. The 2016 Mapex Property the mall, unlike the conventional property Showcase is organised by exhibitions in halls and convention cen- Rehda Youth tres,” she said. “Th is way, visitors can treat this [2016 3. Rehda Youth has partnered with Mapex Property Showcase] as part of their Farm Fresh Milk for a recycling- normal routine shopping,” she added. themed competition Meanwhile, Rehda Youth is also part- nering with Farm Fresh Milk for a recy- 4. Fong: The showcase will be carried cling-themed competition for 30 students out in a boutique style at locations aged 10 to 12 years from SJK (C) Puay Chai 2 within the mall, unlike the during the event. Th ere will be activities for conventional property exhibitions 4 the students to display their creativity while in halls and convention centres raising awareness about the importance of reusing and recycling. 5. Fong exploring TheEdgeProperty.com “Th e participants will have to transform one stop property portal old Farm Fresh milk bottles into something 5 useable such as storage containers or smart- phone holders,” she explained. dren from a young age on the importance of of the opportunity to approach the reputa- draws. Successful transactions during the Fong added that the winner will walk taking care of the environment by recycling ble developers at the 2016 Mapex Property event will also see purchasers being entitled away with 1,000 ONECARD U Points fol- and reusing materials. What sets us apart Showcase on the properties they are inter- to win up to 10,000 ONECARD U Points. lowed by 700 and 300 ONECARD U Points from other exhibitions is that visitors of all ested in and check out special packages or As part of Rehda Youth’s ongoing CSR for the second and third placed contestants ages will be able to enjoy activities from discounts the developers are off ering. programme, a donation of RM50,000 will be respectively. All 30 participants will receive colouring contest, face painting to looking Th ere will be 35,000 worth of U Points to channelled to rebuild a child care centre for a hamper worth RM100. at properties,” she added. be given away to visitors via activities such Women’s Aid Organisation and construct a “I think it is important to educate the chil- Fong encouraged visitors to make full use as passport redemption, contests and lucky building for Epic Homes.

SUHAIMI YUSUF / TheEdgeProperty.com Malaysia beats and Hong Kong as China’s preferred investment destination

BY RACHEL CHEW said founding director Joo Ellis in popularity of countries like Aus- the portal’s China 2016 Internation- tralia and New Zealand where their KUALA LUMPUR: Malaysia and al Property Outlook report. local currencies have fallen even Singapore were the sixth most pre- About 60% of surveyed partic- more sharply,” the report showed. ferred property investment coun- ipants favoured Australia as their Following Sydney, New York tries for China investors in 2015, number one market, followed by and Vancouver as the most pop- ahead of Japan (seventh) and the US, the UK, Spain and Portugal, ular property investment destina- Hong Kong (eighth), according to Canada, Malaysia and Singapore, tions for China investors was Tokyo, Australian property investment Japan, and Hong Kong. which is also getting popular driv- portal Investorist. “During 2015, market instability en by the yen’s decline to 22-year “Over the last 12 months, ac- in China off ered limited options for lows and excitement over the 2020 tivity on Investorist clearly shows safe investments for the growing Tokyo Olympics. Chinese agency interest is directed class of High-Net-Worth Individ- According to the report, 10% to to countries exhibiting stable gov- uals (HNWI). Th e devaluation of 19% of all new apartments in Ja- ernments, robust economies, top the Chinese yuan against the US pan’s capital were purchased by Malaysia and Singapore were the sixth most preferred property investment class educational institutions and dollar reduced buying power in investors from Asia – mainly China, countries for China investors in 2015 favourable residency programmes,” the US and UK and increased the Hong Kong and Taiwan. TEP 4 FRIDAY MAY 13, 2016 • THEEDGE FINANCIAL DAILY COVER STORY

ome of the older housing estates in Petaling Jaya, Selangor are like fine wine. Their real estate val- ues grow the more established they become. Damansara Jaya could be one such area which has seen its value grow with time. If you had purchased a house in Damansara SJaya 30 years ago and still own the property today, con- gratulations! You are now a millionaire! In terms of asset value, your house could now possibly be worth as much as 15 times more than the price you paid 30 years ago. Megaharta Real Estate Sdn Bhd negotiator Alicia Lee tells Th eEdgeProperty.com, the selling price of a double-storey terraced house in Damansara Jaya with a built-up size of 2,200 sq ft, which was about RM60,000 three decades ago, could now be worth more than RM1 million. Made up mainly of terraced houses, Damansara Jaya’s housing values have been growing at a steady pace. Some eight years ago, the terraced houses in Damansara Jaya that were selling for between RM400,000 and RM500,000 on the average per unit are now asking for RM1.2 million to RM1.5 million depending on their condition. In a recent deal concluded by Lee, a double-storey terraced house with a land area of 3,000 sq ft (measuring 23 ft by 116 ft) and built-up size of 1,900 sq ft, was sold for RM1.3 million. According to her, the current selling prices of similar terraced houses here are already nearing RM1.5 million. Lee, who has been staying in Damansara Jaya for the past 14 years, has witnessed the rising price trend of the houses in this area. “Most of the houses have changed hands over the years and the new owners will usually renovate the old houses before they move in. Th is has been very helpful in the good upkeep of the houses and brings up their values,” she remarks. “Damansara Jaya has always been one of the most de- sired places for home owners due to its accessibility and nearby amenities. Transaction activities had surged in 2010 to 2014, but have slowed over the past two years due to the current soft market condition,” she adds. Rahim & Co (Selangor) managing director Choy Yue Kwong concurs that housing prices here have been rising over the years due to strong demand and the infl ation factor. According to him, Damansara Jaya’s homes have been transacted at prices ranging between RM922,000 and RM1.66 million in 2015. He notes that for a RM1.5 million terraced house, it must be in a good move-in condition. Data from three real estate agencies – Metrohomes Sdn Bhd, Rahim & Co and Landserve Sdn Bhd –showed that there were 20 landed residential properties transacted in 2015, sold at an average of RM758 psf. for landed homes here in 1Q2016 averaged RM686 psf, What makes it so attractive? According to data collated by Th eEdgeProperty.com, as which is slightly lower than RM694 psf recorded in 4Q2015. Damansara Jaya, or also known as DJ to locals, covers the many as 38 houses changed hands in 2014 at an average However, it must be noted that prices are dependent areas of SS22 and SS22A and is one of the earliest township transacted price of RM584 psf. on the location of the property within the neighbour- developments in Petaling Jaya. It is located within easy Th e transaction data by the agencies and consultancies hood as well. Margaret Th an from Hartamas Real Estate access to the , Damansara– showed that the highest transacted value in 2015 was for a says not all places in Damansara Jaya could fetch a price Expressway and Th e New Expressway. 3-storey semi-detached home with a built-up of 3,075 sq ft. of above RM600 psf. For instance, some houses located Th e township was developed by Paramount Garden and It was sold for RM1.95 million or an average of RM793 psf. near a Hindu cemetery or facing a highway can go for as Paramount Corp. It comprises about 2,000 houses includ- Th eEdgeProperty.com data showed that the asking price low as RM400 psf. ing terraced houses, semi-dees and bungalows. FRIDAY MAY 13, 2016 • THEEDGE FINANCIAL DAILY TEP 5 COVER STORY

Th e redevelopment of the local neighbourhood mall into the new Atria Shopping Gallery, which re-opened in May 28, 2015, has added a renewed vibrancy to the area. Th e fi ve-fl oor Atria is part of a mixed -use development by OSK Property Holdings Bhd. Th e project also comprises two 14-storey blocks with 392 small offi ce/fl exible offi ce (SoFo) units named Atria SoFo Suites, which are expected to be completed some- time this year. Th e immediate neighbourhoods surrounding Da- mansara Jaya are Taman SEA, Taman Megah, Taman Mayang Jaya, and . Megaharta’s Lee notes that although there are many choices in the market, Damansara Jaya remains compelling to home buyers, especially those who want bigger homes. “Th e sizes of homes are varied and off er big land ar- eas. Some measure 22 ft by 90 ft while some even have a land size of up to 22 ft by 120 ft,” Lee explains.

Have prices peaked? Despite their faded façades, old houses that are well-lo- cated and off er a good living environment could be more valuable than newer properties. On the investment prospects of Damansara Jaya, the agents and consultants still see potential of further capital appreciation due to land scarcity, its strategic location and its proximity (15 minutes’ drive) to the upcoming Bandar Utama light rail transit (LRT3) station. Th an from Hartamas Real Estate concurs saying Da- mansara Jaya is a mature yet quiet neighbourhood, which appeals to home owners who want a serene living environ- ment, and off ers convenient access to various amenities. “Most of the original owners are still staying in Da- mansara Jaya and they know each other very well. Some parents are even helping their children get a unit in the same area, hoping their children will stay nearby when they have their own family,” she adds. Rahim & Co’s Choy says the price of Damansara Jaya’s properties, especially terraced houses, will continue to rise for its freehold tenure, its mature township ameni- ties, and the landed homes scarcity factor. “House price growth may experience a slowdown or be stagnant in the near term due to the dampened market sentiment. However, I don’t think Damansara Jaya will lose its attractiveness. Its property values will continue to appreciate and so properties there are still worth investing in,” he concludes. TEP 6 FRIDAY MAY 13, 2016 • THEEDGE FINANCIAL DAILY FEATURE No more space for your stuff ? Try self-storage

GRAPHICS: NURUL AIDA MOHD NOOR/ TheEdgeProperty.com

BY RACHEL CHEW

n urban centres where home sizes are shrink- ing and real estate values are high, one may need to consider ways to get more space, es- pecially storage space. Self-service storage (self-storage) is a rela- tively new concept in Malaysia. Th e service of- Ifers storage spaces ranging from as small as a locker to a substantial room size. Th ey cater to those who are looking to rent small spaces on a short-term basis ranging from a few weeks to a year. Clients are usually companies and individuals who need some extra space to store their goods. Th is niche business began in the US decades ago, driven by rising demand from individuals How (right) and his partner, Alex Lee and businesses. According to commercial real estate consul- tancy CBRE’s 1H2015 Asia Self-Storage Report, demand stems from the rise in what is called the 4Ds – Death, Divorce, Downsizing and Dislocation. Th e industry in the US and Europe have seen tremendous growth, and it is slowly moving into a more established and steady stage. Asia as a whole, however, has only just begun with the exception of a few. Among the Asian cities that have seen sig- nifi cant growth in this industry over the past few years include Hong Kong, Tokyo and Singapore, driven by their small living and commercial spaces. Th e report also showed that generally, Asia is 20 years behind the US. “Starting in the 2000s, self-storage in Tokyo, Hong Kong and Singapore have had a 10 to 15 years in- Ng: The rise of e-commerce and online shopping in troductory phase. Currently, the business in Asia Malaysia has also raised demand for storage space is transitioning into the growth phase and its rapid expansion is expected in Tokyo, Hong Kong and gal fi rms, online businesses, entrepreneurs, home Singapore,” the report showed. owners and students,” How shares. Th e rest of Asia, including Malaysia, is presently Flexi Storage off ers more than 60 diff erent storage at the pre-introduction phase. sizes ranging from 16 sq ft to 200 sq ft. Th e minimum “According to a research by IPSOS Business space-renting period is two weeks and the maximum Consulting Hong Kong in 2015, the level of compe- is a year with renewal options. Th e minimum charge tition in Asia is still low with the growth potential per month is RM66 (locker storage size). at about 6% to 10%. Malaysia is at least 10 years be- Meanwhile, Lock + Store off ers storage space hind Singapore, Hong Kong and Japan in terms of with sizes from 14 sq ft to 150 sq ft. Th e rents range penetration rate. Th ere are about six players right from RM7 psf to RM12 psf per month. now,” Singapore-based Lock + Store CEO Helen Lock + Store’s Ng believes rapid urbanisation, Ng tells Th eEdgeProperty.com. shrinking apartment sizes, and the rising affl uence Malaysia has only seen self-storage businesses resulting in people accumulating more things have popping up recently -- there are only a handful of spurred Malaysians’ demand for storage space and players in Malaysia. supported the growth of the industry. Nevertheless, Kuala Lumpur has been ranked “Th e rise of e-commerce and online shopping as one of the cities with the most growth potential in Malaysia has also raised demand for storage by CBRE Global Research, supported by urbani- space. Compared with fi ve years ago, we are seeing sation, marriages, students and offi ce expansions. more e-commerce or online stores rather than the According to the CBRE report, self-storage is traditional brick-and-mortar stores,” Ng shares. not only a new business in the commercial market, Moving forward, she says the worsening eco- it is also an opportunity to unlock the value of a nomic climate may see more households and busi- property by transforming empty offi ces or facto- nesses tightening their purse strings, which in turn ries into money-making entities. could reduce demand for self-storage. Flexi Storage co-founder Desmond How says “However, this will be balanced out by short- the industry is growing steadily. Currently, the term demand, such as from families in between occupancy rate at his facility is 70%. houses who need a place to store their furni- “We have been receiving good response from ture, expats relocating and the rising number of our customers who are from accounting and le- e-commerce stores,” Ng reckons. FRIDAY MAY 13, 2016 • THEEDGE FINANCIAL DAILY TEP 7 DEALMAKERS

I ever became a boss one day,” he says. Besides being there for his agents, Lee Maintaining a culture of care makes sure that there are at least four ad- ministrators in each of his branch offi ces. He Alex Lee, founder of Tech Real Estate, shares his passion for his people has also customised an accounting system to avoid delays in commission payments. “I realised that my job satisfaction comes from the agents when they thank me for help- BY RACHEL CHEW ginning of my career so I clearly know that ment was diffi cult. Th e publication might have ing them in solving their problems or when this is not an easy job,” Lee says. read your handwritten information wrongly, they say they enjoy working with me,” Lee n 1995, Alex Lee graduated from an ad- Th at diffi cult start told Lee that communi- or your agency’s admin could have forgotten notes. Th is results in a low staff turnover rate vertising course from a local college but, cation skills, hard work and creativity are three to fax the advertisement to the newspaper,” while the team continues to grow. he has never worked a day in the adver- of the most important elements to suceed in Lee said. “Most of them (agents) joined because tising industry. this industry. Th erefore, he decided to create an e-fi ling we have established a name for ourselves. I “My parents were very concerned about “I started by making phone calls to get system to link the publication to the agency, believe the agents are the best ambassadors our (Lee and his siblings) education. After business. It sounds easy but bear in mind so that his agents could send their advertise- of the company,” he says. Ifi nishing A-levels, my parents told me to further that that was in the 1990s, agencies did not ments accurately and effi ciently with a click. When there are problems with real estate my studies and get an academic certifi cation, have easy access to data like today. Th e publication began to use an advertise- agents, one must look at their leader. and then I could be free to do whatever I liked “Do you know the White Pages, the public ment e-fi ling since then. “It is important to know what kind of per- to do,” says the founder and director of Tech phone directory? What I did was I keyed-in all son the leader is and how he or she trains and Realtors Sdn Bhd and Tech Real Estate Sdn Bhd. the information into an excel fi le and ‘My agents are my soldiers’ educates their agents. Newbies may not know “I chose advertising, because I thought I categorised them by areas. It helped Today, Lee owns three branches (Petal- anything when they fi rst join. Th ey will follow won’t have to read a lot,” he adds. me to search a particular area’s phone ing Jaya, Cheras and Subang) with over what they are taught to do to close deals even By chance, Lee was off ered on-the-job numbers with a click and saved a 200 agents, from the not more than 10 if they are wrong. Th e leader is one of the key training as a HTML programmer right after lot of my time. Th at was my fi rst agents he started with. reasons for bad agents,” Lee says. he graduated. He took the off er as he was in- database.” “I always believe that if you take care He believes it is important to have a good terested in new technology as HTML was still Lee set up his agency in Petal- of them (agents), they will take care of company culture because it will help attract very new to the Malaysian market. ing Jaya some 10 years ago. Th e fi rst you too. I never treat them as my employ- good agents. “I enjoy being ahead of others. I love to try problem he faced was dealing with ees. In fact, they are my boss, they should “If an agent just wants to earn easy and new things. So I thought, why not?” he says the ineffi ciencies of plac- be recognised!” Lee quips. quick money without ethics, he or she will of his decision then. ing newspaper classi- “Th ere were three things that not be comfortable staying in our agency,” However, Lee found himself unsuited to fi ed advertisements. I noticed in some real estate Lee explains. the industry after nine months of trying. He “We (real estate agencies that I wasn’t happy He doesn’t have huge plans to expand the then quit and followed his father’s footsteps agents) were very with. First, the boss wasn’t business. I only hope that this company will as a real estate negotiator. Th at was in 1997, much dependent there for negotiators, second, continue to grow slowly but steadily with a good the year of the Asian Financial Crisis. on print advertise- there was not enough admin reputation while providing a good platform for “It (property market) was really quiet at ments to get busi- support and, fi nally, the boss agents to carve their careers in this industry. that time but looking back now, it was good ness at that time. took his time in calculating “I will do my best to train up as many training for me. As the Chinese saying goes, However, put- the commissions. So I told agents as possible to carry on the company ‘you taste the bitter before the sweet’. I am ting in the cor- myself that I would mini- culture. Th is is what success means to me,” fortunate to have tasted the bitter at the be- rect advertise- mise all these problems if Lee concludes. SUHAIMI YUSUF / TheEdgeProperty.com

FENG SHUI

ATER features ple theorise that having ample having water on the right side of heavily in Feng water elements around them can the house can cause the man of Shui — after all, the make them rich. Th is stems from the house to have affairs. This is term “Feng Shui” the misconception that water is di- a preposterous misconception as literally means rectly associated with wealth and there is no evidence of principles “wind” and “water”. that water produces Qi. As a result, or texts suggesting this in Classical WMuch has been written about wa- some individuals have come up Feng Shui. ter within Feng Shui; in fact, there are with so-called “top secret” Feng Th e only instance where water many books dedicated solely to the Shui formulae such as the Water can result in extramarital relation- subject of water in Feng Shui. With Dragon Formula, which encourag- ships is when it inadvertently acti- so much information being bandied es people to replicate certain water vates the Peach Blossom star within around — how much of it is fact, features through artifi cial means. the property. Having said that, this and how much of it is myth? If we Water does not create Qi, but it could be located anywhere on the are going to follow the principles of functions as a collector and circu- property and not just on the right Classical Feng Shui, you should take lator of the existing Qi in a premise. side of the house. the time to examine whether there BY DATUK JOEY YAP Th e idea that water is the bearer of Th ese are just a few misconcep- is any credible theory behind what wealth is baseless. tions regarding water in Feng Shui. you hear, especially when it comes Th ere are more out there causing to quick Feng Shui cures associated Myth #4: Any water will do, confusion. Th erefore, to allow the with water. including images of water fl ow of water to positively aff ect the Let’s take a look at some of the Top 5 Water myths In order to get the maximum bene- Feng Shui of your home and your more popular myths associated with fi ts of Feng Shui in your home, fi rst family, it is of utmost importance water. and foremost, you need to have the for you to differentiate the truth in Feng Shui real deal. Having said that, adding from myths. Myth #1: Put “Feng Shui” fish water elements in and around your in the aquarium premises does not include hanging Datuk Joey Yap is the world’s lead- Th is is one of the most popular mis- purpose to just install a pump in the Th e fact is that water has an overall pictures of water on the wall. Yes, ing Chinese Metaphysics consultant conceptions. There is the notion aquarium to circulate the water and positive impact in aiding Qi fl ow. In there are instances where people and bestselling author of more than that certain exotic species of fi sh- leave the fi shes out. Classical Feng Shui, water serves as hang images of water in their homes 160 books which have sold over four es are considered Feng Shui fi sh- a symbol of the Yang element. Con- and wait for miracles to happen. million copies worldwide. He is chief es. Th e truth is, a fi sh is just a fi sh Myth #2: Water equates trary to popular belief, water is not a Here is the bottomline: If you want consultant of the Joey Yap Consult- and it does not matter what species, to wealth literal reference to wealth, nor does it to get positive Qi fl ow from the water ing Group and founder of Mastery colour or number. Fishes do abso- Th is is a classic example of how a result in the multiplication of money. element, include real H2O in your Academy Of Chinese Metaphysics. lutely nothing in terms of infl uenc- saying can take on a life of its own. Water is an activator and its eff ects are interior design. His nearly two decades of professional ing one’s Feng Shui quotient. Th e Water is frequently associated with not limited to wealth but also health consultancy includes working with aquarium, however, is a diff erent money owing to a literal translation and relationships. Myth #5: Roving eyes and Microsoft, Sime Darby, UEM, Pru- matter. from the Chinese saying that “water right side water dential and Citibank. He has students Th e principle behind the use of is money”. Th is has led to the belief Myth #3: Water Dragon Another famous notion is that in more than 30 countries. aquariums is to activate Qi. It would that water can lead to prosperity — Formula can make you rich seem peculiar to place a tank of water water representing flow of wealth It can be safely assumed that al- somewhere. Hence, fi shes are added into the house; or perhaps the most most everyone wants to become If you have any feng shui-related questions for Yap, please go to to make it visually pleasing. Th e truth worrying misconception is that a billionaire, own luxury cars and the Tips section of TheEdgeProperty.com is, it would have fulfi lled its Feng Shui “more water means more money”. live in villas by the sea. Some peo- TEP 8 FRIDAY MAY 13, 2016 • THEEDGE FINANCIAL DAILY PROPERTY CHAT Agricultural land is hot!

GRAPHICS: NURUL AIDA MOHD NOOR/ TheEdgeProperty.com Th en again, not everyone has the appetite to buy land – they must have the required fi nancial stamina. BY AU FOONG YEE And don’t even think about yield for the two-acre agricultural plot that you are consid- ering to buy. At best, it could be rented for a modest sum for use as an orchard or nursery. dive into the recently-released On a diff erent note, in case you have not National Property Information known already, the property market is down Centre’s (Napic) 2015 Property but the residential sub-sector remains the Market Report lends an inter- industry’s clear darling. esting insight into the property Th e residential sub-sector continued to buying trend last year. lead the overall market in 2015, account- AIt is noteworthy that while the general ing for 65.2% and 49% in volume and value market was down, agricultural and develop- respectively, chalked up for the year. Th is ment land bucked the trend with investors. meant there were 235,967 residential prop- Buyers spent more, though marginally, erty transactions (247,251 in 2014) and these to buy these two real estate types last year were worth RM73.47 billion (RM82.06 billion). compared with 2014. Still, no sub-sector was spared from the Th e rise was minimal for agricultural land, market dip last year, not even residential at 2.86% (RM13.09 billion vs RM12.72 billion housing. What is noteworthy is the number of in 2014). It was more signifi cant for devel- or two acres to four acres or more. like Mantin and its surroundings. residential property transactions only eased opment land, climbing 14.8% to RM24.91 Th e growing interest in agricultural land Tracts that front the road will, naturally, 4.5% compared with the highest drop of 13% billion (from RM21.7 billion). investment is driven largely by very attrac- command a premium due to its micro-lo- felt in the industrial property sub-sector. Interestingly, the number of transactions tive capital appreciation potential. cation potential alongside the supply and Th e smallest drop, of 2.4%, occurred in the in all property types had eased last year, in- Consider an agricultural tract just south demand factor. development land sub-sector. cluding that of agricultural and development of Kuala Lumpur. I know of an investor who And should you see prices of agricultur- To recap, Malaysia saw a total of RM149.9 land. Th e former shrank 7.5% to 66,705 deals not long ago paid about RM100,000 per acre al land shooting up in one particular area, billion worth of properties changing hands and the latter 2.4% to 20,534. for a small tract in Pantai, which is located chances are an established developer has in 2015, down 8% from 2014. Th ere were a Th e reading is that either land prices have between Seremban and Jelebu. Just eight acquired land in the vicinity for an upcoming total of 362,105 transactions in 2015, down gone up, or the tracts transacted were bigger months into the buy, the price shot up by project. Savvy owners tend to ride on such 5.7% from the 384,060 transactions in 2014. in size. Or it could be both. about 50%, to RM150,000. upcoming projects by citing the projects’ It is not only the developers who are Over in , a small town that sits on proximity to their land. Au Foong Yee is the managing director of The on the acquisition trail for land. More and the border of Selangor and Negeri Sembilan, In case you have not noticed already, Edge Communications and The Edge Prop- more individuals are now putting their land that cost about RM150,000 per acre in more owners are selling their land based erty. She was formerly the executive editor of money on agricultural land and these 2010/2011 is now said to be about double its on a per square foot basis, as opposed to Property and Retailing at The Edge Malaysia. tracts could be sized anything from one worth. Rising prices are also noted in places selling it by the acreage. She can be contacted at [email protected]

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