LISTINGS . NEW LAUNCHES . NEWS . DATA . ANALYTICS A PULLOUT EVERY FRIDAY WITH Th eEdgeProperty.comPP 9974/08/2013 (032820) FRIDAY, JUNE 10, 2016 . ISSUE 2186/2016 ONLINE + OFFLINE

A jewel in A rare opportunity to own a slice of ’s exclusive new PENANG development beckons

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by of 6 he 26-acre, guarded Kensington Gardens Above: Jesselton lots forms Parcel 1 of the larger 58-acre Villas is located cou Jesselton Villas which is being developed next to the Penang by Berjaya Land Development Sdn Bhd, Turf Club loc Ta wholly-owned subsidiary of Berjaya Tow Land Bhd. and Neighbouring the prestigious Penang Turf Club Jes and affl uent neighbourhoods of Western Gardens, Tik Jesselton Heights and Pulau Tikus, Kensington Gardens will contain a total of 69 freehold bungalow dist lots with sizes ranging from 5,995 sq ft to 9,634 sq ft prim (average of 6,903 sq ft), situated on elevated ground Clockwise a u that enhances the view. from left : tan Its gross development value (GDV) is RM321 Preserving nature; million, out of the total GDV of RM1.5 billion for Grand entrance ma Jesselton Villas. statement; (20 Kensington Gardens targets a specifi c group — suc- Dedicated drive Tow cessful people who seek a community of like-minded way to Kensington sof individuals ready to form a strong close-knit com- Gardens bou munity, a community where they can indulge in the stro pleasure of having the best that money can buy. natural terrain with minimal physical change. walkways and bicycle lanes safe for walking, jogging and to c This enclave’s greatest lure is undoubtedly the The enclave itself also boasts natural splendour. cycling. Specifi cally-designed driveways that encourage opportunity it off ers to owners to construct the home Kensington Gardens has its very own landscaped fea- slower traffi c will enhance safety and provide a safe psf of their dreams personally tailored to suit their tures which are themed Terrace, Ridge, Turf and Lake- neighbourhood for children to play in. by needs based on designs provided by their architect. side that form open public spaces merged with Mother At Kensington Gardens, security is of utmost impor- ave As each bungalow will boast its own unique iden- Nature. These themed parks are purposely designed to tance and residents can enjoy greater peace of mind with Geo tity, this exclusive bungalow lot development will promote a wholesome lifestyle living concept where the 24-hour security patrols, CCTV cameras as well as exude class and value. residents can solidify their community relationships ie. guard posts at the main entrances. The development will ave Kensington Gardens also off ers an outstanding children’s playground, jogging track, adventure trails etc. be completed with the most sophisticated infrastructure low view — a panoramic stretch of lush greenery as Kensington Gardens emulates the fi ner elements of ready for connection within the plot boundary. hom far as the eye can see, stretching from the pristine communal living features. The development makes the Basic infrastructure ready for connection within wh hillside jungles in the distance to the landscaped best use of space, walkability and connectivity through the plot boundary include 40ft and 50ft wide internal nou parks and trails with shady tree-lined boulevard generous green belts, mirroring the place-making strat- roads, street lights, underground in-coming power is R where Kensington Gardens is tranquilly nestled. egy that has transformed places such as Copenhagen, cables, underground telecommunication cables and RM One of the unique features of the development is Stockholm and Amsterdam into the sustainable cities fi bre-to-the-home (FTTH), all of which are features that it has been designed according to the existing that they are today — where communities live and com- desired by elite home owners to enable a comforta- ate municate freely, safely and seamlessly. ble lifestyle. In its current state, 40% of Kensington The holistic and sustainable design Gardens’ construction works is already complete and ave approach boosts Kensington Gardens’ in- it should be fully completed by mid-2017. psf vestment potential and it is anticipated to Unlike other high-end developments, Kensington dep not only become a prominent residential Gardens off ers the convenience of dual access points RM landmark in Penang but also a standard via its own greenery-lined driveway from Jalan Brook against which future high-end residential and Jalan Batu Gantong. sem projects will be measured. Its location gives it added value and enhances its — m To ensure environment sustainability, desirability because only a few minutes’ drive away gal the development has been conceptualised lies every city convenience imaginable, from hospi- with design features that complement the tals, specialist centres, and international and local The natural terrain and minimise physical schools to major lifestyle malls and F&B hotspots. al y change. Additionally, the developer has The Penang International Airport, Penang Bridge, Gur assumed the responsibility to transplant George Town and Batu Ferringhi are all located within more than 300 matured trees from the site a 30-minute drive. the to minimise the carbon footprint. Apart from having excellent connectivity to modern wh In accordance with the Penang State conveniences, Kensington Gardens is perfect for those ren Government’s healthy living initia- who love nature, as a stone’s throw away are the two tive, upon completion, the Kensington largest natural green spaces of George Town — Penang gal Gardens enclave will feature ample spaced Municipal Park and The Penang Botanic Gardens. typ FRIDAY JUNE 10, 2016 • THEEDGE FINANCIAL DAILY TEP J3

enang island is known as “The Pearl of the Orient” for a good reason. Penang’s natural beauty and exotic heritage The luxurious Kensington make it a thriving tourist destination. guarded enclave of Houses of worship, pre-war colonial Kensington Gardens Gardens buildings, modern skyscrapers and an is strategically Pindustrial base enrich its amalgamated heritage. located in Penang George Town, Its capital George Town also has the distinc- Penang Island tion of being ranked as the “Most Liveable City” in by global consultancy ECA Interna- tional Location Ratings, and it is also a “World Heritage Site”.

Penang’s value is set to only shoot up upon Penang completion of the RM27 billion Penang Trans- Turf Club 26 portation Master Plan, which will include major acres roads, trams, e-bus, a pan-island expressway Only and the LRT linking Komtar with the Penang International Airport. If that’s still not enough to convince you of the 69 wFreehold bungalow lots advantage of owning a property on Penang island, w Individual titles then let’s talk in terms of investment potential. from Penang has not only topped the charts for the 5,995 to highest foreign direct investment (FDI), controlling 9,634 almost 20% of Malaysia’s total FDI but the island sq ft also has several major foreign investors, such as 8sen psf maintenance fee Average size: IKEA, Bosch Solar Energy, RIM Blackberry and 6,903 sq ft Penang International Technology Park. Due to land scarcity, landed properties on Penang island are also becoming harder to Completion date is years come by. 3 from sale and purchase Amid this scarcity arises a unique opportunity agreement signing by the name of Kensington Gardens consisting of 69 freehold bungalow lots. These bungalow lots are most likely the last of their kind that could be found on Penang island. This luxurious guarded enclave is strategically located within the western boundaries of George SOURCE: NAPIC Town, with the Penang Turf Club towards its right and close to affl uent neighbourhoods such as Jesselton Heights, Western Gardens and Pulau Property values Tikus. Prominently positioned in George Town’s most in George Town distinguished residential neighbourhood, it is a prime investment opportunity for those seeking (average price RM psf) a unique asset whose values will only grow in tandem with its increasing scarcity. 800 Bungalow According to the National Property Infor- Semi-detached mation Centre (Napic), over the last four years 700 (2012 to 2015) prices of bungalows in George Town had increased by 41.2%, with a slight softening of values in 2014. However, values 600 bounced back with these properties recording strong appreciation in 2015, which is expected 500 to continue in 2016. Looking at year-on-year data, average price 400 psf was down by 8.7% in 2014 and was up again 2012 2013 2014 2015 by a whopping 53.6% in 2015. This brought average transacted values of bungalows in Kensington 600 George Town to a four-year high of RM788 psf. In the fi ve areas analysed, data shows that the 558 562 average price between 2012 and 2015 for bunga- 400 461 467 lows is slightly higher than that of semi-detached homes, with the exception of Persiaran Gurney, Gardens 200 while in George Town the diff erence is quite pro- nounced — the average price psf for bungalows 0 is RM605 while semi-dees commanded only — the perfect choice for 2012 2013 RM459 psf. Average price psf for bungalows has appreci- real estate investment Bungalow ated in all areas except Jelutong in the past year. Semi-detached Jelutong shows a 46.8% depreciation in average price psf for bungalows from RM577 psf in 2014 to RM307 psf in 2015 and a 16.22% depreciation for semi-dees from RM487 psf to SOURCE: THEEDGEPROPERTY.COM LISTINGS RM408 psf. lot bought in Kensington Gardens is more likely Analysis by TheEdgeProperty.com shows that Rental yields of bungalows to be owner-occupied than rented out due to it semi-dees account for 59% of transaction volume being custom-designed to the owner’s preference. — most likely a result of the relative lack of bun- and semi-dees As indicated by the data, whether it be for galows on the market, compared with semi-dees. personal use or for renting out, bungalows in Based on rental listings as at May 2016, George Town Rental yields (%) Kensington Gardens are the perfect choice in TheEdgeProperty.com’s analysis shows that rent- terms of real estate investment. al yield for bungalows is highest in Persiaran Bungalow Semi-detached As values continue to rise while supply slowly Gurney at 9.04%. Pulau Tikus dries up, it is only a matter of time before these The data also shows that in Northeast Penang, Persiaran Gurney properties become even more unattainable. You the average rental yield is 5% for bungalows, might say it is a case of investing now or never. which is three times higher than the average Jelutong For more information, kindly visit Berjaya rental yield of 1.6% for semi-dees. Property Gallery at Penang Turf Club (Golf Looking at the fi ve areas, rental yield of bun- Sungai Pinang Section), Jalan Batu Gantong, 10540 Penang galows typically exceed 3% while semi-dees 0246810or contact 04-2260682, 018-3668223 or 018- typically off er below 2.5%. But any bungalow 3701991. TEP J4 FRIDAY JUNE 10, 2016 • THEEDGE FINANCIAL DAILY LISTINGS . NEW LAUNCHES . NEWS . DATA . ANALYTICS A PULLOUT EVERY FRIDAY WITH Th eEdgeProperty.comPP 9974/08/2013 (032820) FRIDAY, JUNE 10, 2016 . ISSUE 2186/2016 ONLINE + OFFLINE

10 FEATURE 8 DEALMAKERS Adding Buildings value in China to real that border estate on the bizarre 4 NEWS customer Benetton Properties to service 12 FEATURE launch fi nal block of Specialised malls Irama Wangsa carve a niche for next week themselves

BUKIT ANTARABANGSA, ULU KLANG

KOTA DAMANSARA SEEING DOUBLE AMPANG Where are the condominiums priced below RM500,000 in that enjoyed double-digit price growth last SHAH ALAM year? See pages 6 and 7.

Where do I get a copy of this weekly pullout? Go to TheEdgeProperty.com to download for free

PUCHONGC TEP 2 FRIDAY JUNE 10, 2016 • THEEDGE FINANCIAL DAILY NEWS HIGHLIGHTS from TheEdgeProperty.com

Gamuda Land to hold total, on Penang island this year. order to enhance its future revenue Australian launch Having launched the RM378 and earnings. million SummerSkye Residences in According to the company, the of 661 Chapel St in Bayan Lepas, it is now looking to un- land is surrounded by lush greenery 3Q2016 veil its biggest project in terms of val- and is close to Genting Highlands, Gamuda Land, the property arm of ue in the area — Queens Waterfront. which presented the group with the construction group Gamuda Bhd, aims Executive chairman and CEO Da- potential to develop a resort-like resi- to launch its fi rst Australian project — tuk Alex Ooi said the freehold devel- dential and commercial development. 661 Chapel St in Melbourne — Down off ers from several parties since six opment sits on 36.53 acres, of which Under in the third quarter of this year, years ago when the mall started op- 24.79 acres are reclaimed land. EcoWorld: award for Like us on facebook said chief operating offi cer Ngan Chee erations. With a total gross development 449.64-acre land in The Edge Property Meng. “The possibilities [to sell the as- value (GDV) of RM2.15 billion, Queen’s Malaysia He said the 30-storey luxury set] are always there. If the price and Waterfront will comprise an 11.74- Batu Kawan rescinded residential apartment develop- terms and conditions are favoura- acre residential component known as Eco World Development Group Bhd ment has a gross development val- ble, we will seriously consider it,” Queens Residences, a 6.1-acre marina, (EcoWorld) has agreed with the ue (GDV) of A$154 million (about the spokesman said, responding to a waterfront promenade known as Penang Development Corp (PDC) to RM463 million) and has achieved questions from The Edge on whether Queens Waterfront Promenade, the rescind a letter of award dated March 30% take-up after its launch in MEH is putting the mall up for sale. Queens Sports Centre and an inter- 26, 2015 for the purchase and devel- last year. “We have no concrete off ers [yet].” national school. opment of 449.64 acres of land in “Prior to the launch in Australia, an The mall has a gross built-up of Queens Residences will have four Bandar Cassia, Batu Kawan. exclusive sales event will be held on 600,000 sq ft and a net lettable area blocks of 22, 24, 26 and 30 storeys Accordingly, their plans to build June 18 and 19, 2016, in Kuala Lumpur of 350,000 sq ft spread over fi ve levels. respectively. They will be launched an 18-hole international golf course for interested buyers to preview the It has enjoyed a high occupancy rate over four phases. on 150 acres of land and a mixed- The Edge Communications Sdn Bhd project,” he told reporters during a of 98%. Phase 1 carries a GDV of RM550 use development named Eco Marina (266980-X) press conference. “We had a valuation done for Em- million and is slated to be soft- on the remaining acres of land have Level 3, Menara KLK, No 1 Jalan PJU 7/6, Mutiara Damansara, 47810 Petaling Jaya, The 661 Chapel St is a freehold pire Shopping Gallery two years ago. launched this month. It will off er 500 fallen through. Selangor, Malaysia residential development on a 1,435 It was valued at RM510 million. The units with an average selling price of “However, extensive studies un- sq m (0.35-acre) site in South Yarra in latest valuation is RM583 million,” the RM780 psf. dertaken as part of the detailed plan- Melbourne that comprises 142 units, spokesman said. ning process have revealed that the Publisher and Group CEO Ho Kay Tat with choices of 1- to 4-bedroom units Global Oriental’s acreage required for the golf course EDITORIAL and a penthouse. Ideal Property to development will be significantly Senior Managing Editor Azam Aris unit buys RM170.7m The selling prices start from soft-launch Queens land to expand higher than originally contemplated CORPORATE A$571,000 or A$14,959 psm on aver- which adversely impacts the viability Managing Director Au Foong Yee age, with built-ups ranging from 40 sq Residences development activities of the project,” said EcoWorld. Deputy Managing Director m (430.5 sq ft) to 271 sq m (2,917 sq ft). Ideal Property Group plans to launch Global Oriental Bhd’s 51%-owned unit EcoWorld president Datuk Chang Lim Shiew Yuin RM2.723 billion worth of condominium Sering Manis Sdn Bhd (SMSB) plans Khim Wah said while the group ac- projects, with more than 3,600 units in to acquire 113.2ha of freehold land in cepts the unavoidable circumstances TheEdgeProperty.com Mammoth to sell Empire Shopping Mukim Bentong, for RM170.67 that led to the rescission of the letter Managing Director Au Foong Yee million to expand its property devel- of award, it remains keen on Penang, Editor Lam Jian Wyn Gallery at the right opment segment. calling it a “valued market”. Contributing Editor Sharon Kam Deputy Chief Copy Editor price In a filing with Bursa Malaysia, James Chong Mammoth Empire Holdings Sdn Bhd Global Oriental said SMSB entered Senior Copy Editor (MEH) is ready to divest Empire Shop- into a conditional sale and purchase Shanthi Murugiah ping Gallery in Subang Jaya, Selangor agreement with property investor Writers Rachel Chew, Tan Ai Leng HOW DO I GET and Natalie Khoo should it receive a desirable and con- Panji Selera Sdn Bhd. PAST ISSUES OF THIS crete off er. It said the proposed acquisition WEEKLY PULLOUT? Art Director Sharon Khoh A company spokesman said Em- provides an opportunity for the group Design Team Nik Edra, Nurul Aida Mohd Noor pire Shopping Gallery has attracted to increase the size of its landbank in Go to TheEdgeProperty.com MARKETING & ADVERTISING Account Director to download for free Sharon Chew (012) 316 5628 TRENDING NOW

Senior Account Manager Jayne Law (016) 929 3309 If you have any real estate-related events, email us at [email protected]. Account Manager LAUNCHES + EVENTS Events listed here will also appear on TheEdgeProperty.com. Jayremy Sim (011) 1669 6039 Email : [email protected]

NEGOTIATOR ADVISORY SERVICE Discover 6-Star Group Bhd while watching the Time: 10am to 5pm The debut of Jubilee For enquiries Living at 661 young ones have fun at the Venue: Setia EcoHill Welcome (Melbourne) GL: (03) 7721 8175/ 8172 Chapel St Email: propertysupport@ succulent plant workshop. Limited Centre, No 2, Jalan EcoHill 1, Date: June 11 and 12 (Sat and Sun) bizedge.com (Melbourne) seats are available — register Setia EcoHill, Semenyih Time: 11am to 7pm Senior Manager Elizabeth Lay Date: June 18 and online for the gourmet lunch Contact: (03) 8724 2255 Venue: DoubleTree by Hilton Hotel Senior Associate Stannly Tan Associate Karen Wong 19 (Sat and Sun) and succulent plant workshop. Bring your parents around the Kuala Lumpur, The Intermark, Associate Kriss Tan Time: 11am to world on Parents’ Day. Enjoy a 348, Jalan Tun Razak, Kuala 2.30pm (seminar) Setia Eco Park — Eco Wheels weekend of cultural activities Lumpur; New York Hotel For New Launches/Events/Press Releases/ Venue: The Gardens — St Giles such as a Brazil coff ee making Bahru, Level 11, Meeting Room News Tips Signature Hotel & Residences, session, Japanese sushi making 2, No 22, Jalan Dato’ Abdullah Tel: 03-7721 8211 Fax: 03-7721 8038 Email: [email protected] Skyview 6, Lingkaran Syed Putra, class and Thai massage at Tahir, 80300 Johor Bahru , Kuala Lumpur Setia EcoHill this weekend. Contact: Kuala Lumpur (012) 779 Contact: (012) 665 1240 2008 / Johor Bahru (012) 208 0488 The Edge Communications Sdn Bhd / (016) 712 7720 Launch Jalin Realty introduces the Jubilee ADVERTISING & MARKETING Gamuda Land will be introducing of Irama project in Melbourne to Malaysian To advertise contact an investment opportunity to Date: June 11 and 12 (Sat and Sun) Wangsa’s investors. There will also be a GL: (03) 7721 8000 fi nal block Fax: (03) 7721 8288 interested buyers of its 661 Time: 10am to 6pm property investment seminar at Chief Marketing Offi cer Chapel St freehold residential Venue: Setia Eco Park Show — Block C 2.30pm daily at the two-day event. Sharon Teh (012) 313 9056 development located in South Gallery, 5A, Jalan Setia Date: June General Manager, Digital Media Malaysian Furniture and Kingston Low (012) 278 5540 Yarra, Melbourne. It comprises 142 Nusantara U13/17, Setia Eco 15 (Wed) Senior Sales Managers units with prices from A$571,000. Park, Seksyen U13, Shah Alam Time: 11am Furnishings Fair 3 (MF3) Fong Lai Kuan (012) 386 2831 Contact: (03) 3343 2228 to 5pm Date: June 17 to 19 (Fri to Sun) Peter Hoe (019) 221 5351 M Residence 2 — Eager for Burger Gregory Thu (012) 376 0614 Get ready for great food and Venue: Time: 10.30am to 9pm Creative Marketing Date: June 12 (Sun) fun activities — terranium Irama Wangsa Sales Gallery, Venue: Kuala Lumpur Convention Chris Wong (016) 687 6577 Time: 12pm to 3pm DIY pot planting workshop Level 3, Menara Chan, 138, Centre, 50450 Kuala Lumpur Head of Marketing Support & Ad Traffi c Venue: M Residence Clubhouse, and test drive the new Ford Jalan Ampang, Kuala Lumpur Contact: (03) 6140 1202 Lorraine Chan (03) 7721 8001 Email: [email protected] Jalan Bandar Tasik Puteri, Mustang — all happening this Contact: (03) 2715 1166 Organised by the Kuala Lumpur & Rawang, Selangor weekend at Setia Eco Park. Benetton Properties Sdn Bhd will Selangor Furniture Entrepreneur Contact: (03) 6092 8188 be unveiling the fi nal block of Association, MF3 off ers a TheEdgeProperty.com is published S P Setia Parents’ Day and distributed with The Edge Feast on some juicy burgers at Irama Wangsa condo development wellspring of information and tips Financial Daily every Friday. For this Parents’ Day event, courtesy Celebration next Wednesday with selling on transforming the home and more property data, listings and of myBurgerLab, with Mah Sing Date: June 11 and 12 (Sat and Sun) prices from RM750,000. improving home furnishings. news, go to TheEdgeProperty.com. FRIDAY JUNE 10, 2016 • THEEDGE FINANCIAL DAILY TEP 3

This World Environment Day, S P Setia and TheEdgeProperty.com invite you to ‘capture’ your dream of ‘A Better World That Is Close To Nature’ — through photography. 3 WAYS TO ENTER

1 INSTAGRAM 1. Set Instagram profile to public 2. Post photo + caption <30 words + #setiaedgepropwed2016

2 FACEBOOK 1. Post photo on The Edge Property Malaysia FB's Photo Contest app + Caption <30 words + #setiaedgepropwed2016

3 THEEDGEPROPERTY.COM 1. Go to http://marketing.theedgeproperty.com.my/photocontest 2. Complete form and follow instructions on the page

THEN WHAT?

COLLECT VOTES TO 00%00WIN

1. Get your friends to vote for your picture at Conseonsectetur adipi http://marketing.theedgeproperty.com.my/photocontestut gravidaor idima. the Photo Contest app on our Facebook page 2. Only 1 vote per Facebook account per photo is accepted per day 3. The top 50 submissions with the most votes will be shortlisted for decision by judges FINAL DECISION + PRIZES

1. Judges to pick top 5 photos with captions based on uniqueness and relevance to "A Better World That Is Close To Nature" theme 2. Attractive prizes up for grabs include foldable bike, motion camera, pedometer and more, worth up to RM3,000

FOR MORE INFORMATION Email: [email protected] Tel: 03-7721 8218 ORGANISED BY TEP 4 FRIDAY JUNE 10, 2016 • THEEDGE FINANCIAL DAILY NEWS

Benetton Properties to launch fi nal AUCTION

Sold block of Irama Wangsa next week Auction date: May 26, 2016 Property type: Ground fl oor shop unit PICTURES BY SHAHRIN YAHYA / TheEdgeProperty.com Address: Unit No 5-G-03, D’Vida BY TAN AI LENG Bukit Jelutong, Jalan Bazar U8/101, Bukit Jelutong Section U8, KUALA LUMPUR: Benetton Properties Sdn 40150 Shah Alam, Selangor Bhd will be opening the fi nal block of its Ira- Tenure: Freehold ma Wangsa resort-concept condominium Reserve price: RM1,350,000 in Kuala Lumpur on June 15, 2016. Transacted price: RM1,350,000 Benetton Properties chief executive of- Built-up area: 2,185 sq ft fi cer Chan Kin Meng told Th eEdgeProperty. Auctioneer: Property Auction com that the 25-storey fi nal block (Block C) House Sdn Bhd comprises 200 units in three layouts with a Chan: The Contact: (03) 2070 2226 choice of 3 and 4-bedroom units. improved Th e built-up sizes range between 1,206 sq accessibility Auction date: May 25, 2016 ft and 1,637 sq ft with prices from RM750,000 and growing Property type: Apartment or an average of RM600 psf. population Address: Unit No A-9-3A, Setia “Th e units are bigger than those in the will support Sky Residences, No 76, Jalan Raja previous two blocks which were launched the demand Muda Abdul Aziz, Off Jalan Tun in 2014 to cater to buyers who are in their growth of Razak, 50300 Kuala Lumpur mid-thirties looking at upgrading to a bigger properties in Tenure: Freehold unit,” said Chan. Wangsa Maju Reserve price: RM843,300 According to him, the final block was Transacted price: RM910,000 opened for private previews in May and re- built along the hillpark and will connect to demand remains strong for homes in the old Built-up area: 1,163 sq ft ceived good response, with 30% of the 200 the podium as well as the 10,000 sq ft club- but established neighbourhood of Wangsa Auctioneer: Property Auction House units booked. house with various facilities, including an Maju as it is located close to the city centre. Contact: (03) 2070 2226 Irama Wangsa is located in Section 10, Olympic-size swimming pool, gymnasium “Wangsa Maju is just like a hidden gem in Wangsa Maju, about 12km from Kuala Lum- and multipurpose hall. Kuala Lumpur. It is a mature and self-con- Auction date: May 25, 2016 pur City Centre. According to Chan, this is Th e fi rst phase (Block B) consists of 232 tained neighbourhood that has great growth Property type: 3-storey the only freehold residential plot in the area. units with built-up sizes ranging from 991 sq potential, especially after the opening of zero lot bungalow Th e developer has owned the nine-acre plot ft to 1,378 sq ft and was launched in 2014. Th e the Duta–Ulu Klang Expressway (DUKE). Address: No 3, Jalan SP 5A/6, of land since the early 70s. second block (Block A), which comprises 223 Th e improved accessibility has uplifted its Laman Granview, Saujana Puchong, Th e low density development has a gross units with built-ups ranging from 1,152 sq ft investment value,” he added. 47100 Puchong, Selangor development value (GDV) of RM480 million to 1,378 sq ft, was launched six months later. In terms of capital appreciation, he Tenure: Leasehold and comprises three residential blocks housing “It was a challenging time [in 2014]. Th e said the Block A and B units were sold at Reserve price: RM1,181,000 655 units in total. It was fi rst launched back in whole market was feeling the pinch of loan RM535,000 or an average of RM550 psf back Transacted price: RM1,320,000 2014 and is slated to be completed by mid-2018. contractions when Bank Negara tightened in 2014 while units in the fi nal block are Built-up area: 3,843 sq ft “Th e overall development is centred on the lending guidelines. It aff ected us but we now going at a minimum selling price of Auctioneer: Property Auction the concept of ‘embracing nature’. To align were still able to meet our sales target as this RM750,000 or an average of RM600 psf. House Sdn Bhd with this concept, the company has set aside is a quality development in a good location “Th e improved accessibility and growing Contact: (03) 2070 2226 four acres as a hillpark. Th is is a private fa- and a good concept,” Chan recalled. population will support the demand growth. cility exclusive for the residents of Irama Block B has seen a take-up rate of over Th ere will be more room for capital appreci- Wangsa,” Chan said. 90% and Block A 75%. ation in the future due to land scarcity and He added that a 500m jogging path will be On the current market demand, Chan said limited new supply in this area,” he added. Up for bid Auction date: June 14, 2016 Property type: 1-bedroom SOHO Address: No D-19-07, Block D, Sunway Nexis SOHO, No 1, Jalan PJU 5/1, Kota BOVAEA: Bogus property agents risking Damansara, 47810 Petaling Jaya Tenure: Leasehold people’s life savings Reserve price: RM737,100 Built-up area: 936 sq ft Auctioneer: Property Auction House Sdn Bhd BY TAN AI LENG gov.my — to protect themselves. are asking for trouble,” he said. Contact: (03) 2070 2226 “A registered real estate agent According to the press state- PETALING JAYA: A fresh crop is a person who has passed the ment, there are a large number Auction date: June 11, 2016 of fraud cases involving illegal board’s [BOVAEA] examinations of fraud cases involving smaller Property type: 4-bedroom property brokers making head- and registered with the board amounts of money that go un- stratifi ed townhouse lines have prompted the Board whereas a REN is certifi ed by BO- reported. Address: Unit No 31-1, Jalan Tasik Prima of Valuers, Appraisers and Es- VAEA and employed by a REA who He urged members of the 2/2, Taman Tasik Prima, 47100 Puchong tate Agents Malaysia (BOVAEA) is directly responsible for their con- public to lodge police reports if Tenure: Leasehold to issue yet another warning to duct and actions,” he emphasised. they fi nd themselves in a simi- Reserve price: RM1,500,000 the public against dealing with REAs are bound by strict laws lar situation and keep the board Built-up area: 3,498 sq ft such illegal agents as they put and under the Valuers, Appraisers informed of such cases. Auctioneer: Ng Chan Mau & Co their life savings at risk. and Estate Agents Act 1981, all mon- “Offi cial complaints are also Contact: (03) 2162 3333 In a statement on June 8, ies collected are to be deposited in on the rise and while BOVAEA has BOVAEA president Datuk Faizan a client’s account and protected by been keeping tab on the situation Auction date: June 11, 2016 Abdul Rahman (pictured) high- professional indemnity insurance. and educating the public about Property type: Condominium lighted the latest reported case — Th e board can deregister, sus- such illegal brokers, there seems Address: Unit No T2-L25-D, Tower 2, that of an unregistered broker in pend or fi ne the REAs if they com- the code with their smartphones to be a lackadaisical attitude on the Boulevard Subang Jaya, Jalan SS 12/1, Johor Bahru who was convicted mit an off ence and report to the to ascertain a person’s status as part of the public to be self-vigilant Wangsa Baiduri, 47500 Subang Jaya of fraud and consequently sen- police on cases of cheating. a REN. in dealing with illegals,” he added. Tenure: Leasehold tenced to 16 years’ jail and 30 Th is is the mechanism to pro- Incidents of fraud can be Meanwhile, he said BOVAEA Reserve price: RM1,050,000 strokes of the cane. tect the public at large. It is also avoided if buyers and property and the police are collaborating Built-up area: 2,519 sq ft He stressed that the person a law that prevents people from owners ask simple questions and to combat this problem and steps Auctioneer: Ehsan Auctioneers Sdn Bhd was neither a registered real es- selling property for a fee if they check the registration of the said are being taken to identify and Contact: (03) 2162 3333 tate agent (REA) nor a certifi ed are not a REA or working as a REN practitioners. prosecute such illegal brokers. real estate negotiator (REN). with a real estate fi rm. “I strongly urge everyone to He also urged the public to A REA can easily be identifi ed apply this method to ensure they Editor’s note: While TheEdgeProp- cross-check the identity of any by their authority card, while cer- are being assisted by these prac- erty.com offers free listings and real estate agent through BO- tifi ed RENs carry red identity tags titioners to avoid any complica- tools, we only deal with registered VAEA’s websites — www.prop- imbedded with a Quick Response tions in the sale or purchase. Do real estate agents and real estate ertyagent.gov.my or www.lppeh. (QR) code, so customers can scan not use illegal brokers — you negotiators. FRIDAY JUNE 10, 2016 • THEEDGE FINANCIAL DAILY TEP 5 NEWS UEM Sunrise completes 351 units of aff ordable homes in Iskandar Puteri

also took place at the same event. BY NATALIE KHOO Denai Nusantara will consist of five 12-storey blocks, each having 1,109 units ISKANDAR PUTERI, JOHOR: Property with every unit comprising three bedrooms developer UEM Sunrise Bhd has hand- and a built-up of 1,000 sq ft for RM150,000; ed over 20 keys to owners of the Bayu and 1-storey shop lots comprising 108 units Nusantara affordable homes in Iskan- with a built-up of 1,200 sq ft and priced at dar Puteri (formerly known as Nusajaya) RM200,000 each. at Iskandar Malaysia, Johor, the group Denai Nusantara is expected to be announced in a press release on June 7. completed by next year. Th e remaining 331 owners will also be “UEM Sunrise has always been handed their respective keys in the near fully supportive of the Johor state govern- future. ment in ensuring home ownership by all Th e aff ordable housing development segments of the society. Based on our which comprises the Rumah Mampu Milik extensive experience in the development Johor (RMMJ), Perumahan Komuniti Johor of townships, residential and integrated (PKJ) and Kedai Kos Sederhana (KKS) in developments, we remain committed in Bayu Nusantara, Iskandar Puteri, Johor building quality affordable homes for the was launched in September 2014 with total comfort and benefit of the nation,” said costs amounting to RM46 million. Aff ordable homes in Bayu Nusantara UEM Sunrise chairman Tan Sri Ahmad Th e development includes 30 units of Tajuddin Ali. shop lots measuring 20ft by 60ft priced at 80 units of PKJ terraced houses measuring jil Layak Memiliki for 10 eligible “This is definitely one step forward for RM200,000; 241 units of RMMJ terraced 16ft by 55ft with a built-up of 850 sq ft priced purchasers out of the 474 applicants so us in helping to realise home ownership houses measuring 18ft by 60ft with a built- at RM80,000. far for the developer’s newest affordable for citizens of Iskandar Puteri from all up of 1,000 sq ft priced at RM150,000; and Meanwhile, the presentation of Si- housing project known as Denai Nusantara walks of life ,” he added.

LEGAL

where vacant possession was delivered before velopment especially its maintenance, and garden and infi nity pool at the roof top, which the SMA 2013 came into force, the fi rst AGM to preserve the condition of its common are not accessible by other normal strata own- must be convened within 12 months from the property. Management bodies collect “Ser- ers in the same development. Hence, a Sub- date the SMA 2013 was enforced. Take note vice Charges” and “Contributions to Sinking MC can be formed to maintain these exclusive BY CHRIS TAN that the date of commencement of the SMA Fund”. Th ey can also make additional by- facilities. Th e SMA 2013 allows a Sub-MC to 2013 in all states is on May 31, 2016 except for laws. Th ese are not exactly laws but more manage the designated Limited Common Penang which is on July 11, 2016. and like house rules that apply to every parcel Property in the development. A Limited Com- have no strata regime to date, unlike owner. Th ey can also list defaulters on the mon Property refers to the common property s a city grows, the development Peninsular Malaysia and Labuan. general notice board. designated for the exclusive benefi t of certain of high-rises becomes inevita- On the other hand, the fi rst AGM of the strata owners but not all. Th e Sub-MC shall ble. So one can only expect more MC will be convened within one month Th e Sub-MC manage and maintain the Limited Common strata developments to be built when at least one-quarter of the aggregate Given the rise of mixed-use developments Property by separately collecting the “Contri- in Malaysia in the future and share units are transferred from the original and their unique structure, where they bution to Sinking Fund” and “Charges” from strata living will become increas- landowner to the unit owners. share common infrastructure, the SMA the entitled owners. Aingly common. It is therefore imperative to Th e strata owners shall become propri- 2013 introduced the Sub-MC to ease the It is within the power of the MC to form a understand the existence and function of the etors once their interest in the parcels have management dilemmas that affect such Sub-MC. However, it is not an easy task as it management bodies that ensure a comforta- been duly registered in their respective strata developments. One common dilemma is requires 2/3 of the aggregate share units of ble and secure strata living environment. titles. Strata owners must be aware that they whether the funds collected from the resi- parcels of all the strata owners to agree with Beyond the initial management period are eligible to vote and to become a member dential parcel should be used on the main- the proposition. Besides, there is also an is- by the developer upon vacant possession, of the MC committee only when they have tenance of the common property at the sue of cost in engaging professionals in the there are three bodies that a strata owner submission as well as the legal compliances. needs to know: the Joint Management Body As you can see, the management bodies (JMB), the Management Corp (MC) and the decide a series of matters, from managing Subsidiary Management Corp (Sub-MC). Strata management bodies funds to the recovery of damaged prop- Th e members of the MC and Sub-MC are erty. It works for the benefi t, comfort and made up of solely strata owners while the enjoyment of each strata owner. Hence, it JMB involves the joint participation of the – how do they work? is always wise to involve yourself in meet- developer and owners. ings called by the management bodies to Both the JMB and MC have the same have your say on matters that refl ect your function — that is to manage the common well-being in the development. Nonethe- properties of a strata development. Th e JMB less, your presence will also act as a form is formed within one (1) year from when of check and balance on the management vacant possession is delivered to the strata body. Just like a public listed company, owners pending the issuance of strata titles, your unit would fetch better value if its while the MC is formed upon the issuance management is well-run. of strata titles. In other words, if a strata title is delivered together with the keys to Chris Tan is a lawyer, author, speak- the strata unit, the formation of the JMB is er and keen observer of real estate locally not applicable. If the JMB has been formed and abroad. Mainly, he is the founder and and strata titles are then issued thereafter, now Managing Partner of Chur Associates. the JMB will cease to operate when the fi rst AGM of the MC is convened. settled all dues and payable commercial parcel or vice versa. If you have questions that you would sums to the management Th e Sub-MC can also be formed like to pose to Chris, please go to the Tips Th e fi rst AGM body at least seven days for a wholly residential project section of www.theedgeproperty.com to According to the Strata Management Act 2013 before the fi rst AGM. when there is a need to have a sep- pose your questions (SMA 2013), the fi rst AGM of the JMB must Th e function of the man- arate management. An example Disclaimer: The information here does not be convened no later than 12 months from agement bodies is unques- would be penthouse unit owners constitute legal advice, please seek professional the delivery of vacant possession. In cases tionably to manage the de- who are entitled to an exclusive legal advice for your specific needs. TEP 6 FRIDAY JUNE 10, 2016 • THEEDGE FINANCIAL DAILY COVER STORY

hile many continue to be spectacular growth here,” says Siva. cautious about the proper- Oregeon Property Consultancy Sdn Bhd ty market due to the weak managing director Wong Wen Chet notes that market sentiment over the the lack of new housing supply has pushed past two years and while up prices in the Ulu Klang area. lending guidelines remain “Most homeowners here are owner- Wtight, investors may be encouraged to know occupiers. The lack of amenities and that there are some condominiums sell- public transport here are also why the area ing below RM500,000 that saw double-digit has failed to attract investors,” he explains. capital growth last year on the secondary Meanwhile JS Valuers Research and market. Consultancy Sdn Bhd director Chan Wai Where are these non-landed proper- Seen says Bukit Antarabangsa is a highly am ties that enjoyed strong growth even in a popular residential area for homebuyers slowdown? due to its proximity to highways and the According to the National Property Kuala Lumpur city centre. Information Centre’s (Napic) analysis of Bukit Antarabangsa is accessible via the its data, there are 13 areas in Selangor with Kuala Lumpur Middle Ring Road 2 (MRR2), condos priced below RM500,000 in the sub- Karak Highway, the Shah Alam Expressway sale market that enjoyed an annual capital (KESAS), and Duta–Ulu Klang Expressway appreciation of over 10% in 2015. (DUKE). It is about 12km to 15km away from Napic has categorised condominiums the Kuala Lumpur city centre. as high-rise residential developments with “Th e vast greenery and hilly terrain off er strata titles, joint management bodies and attractive views and serenity. However, if facilities such as a gym, swimming pool and there are no clear development guidelines multipurpose hall, among others. and measures to ensure soil stability in the Th e Top 10 condominiums (as defi ned neighbourhood, landslides will still be a by Napic) which were tagged less than concern among buyers,” he adds. RM500,000 in Selangor and enjoyed the Th eEdgeProperty.com data shows that the highest price growth year-on-year (y-o-y) current average asking price for condos in last year were shortlisted from Napic’s list. Ulu Klang is about RM255,867 or RM303 psf. Among them were condos in Bukit Antara- According to listings in Th eEdgeProper- bangsa in Ulu Klang, Seksyen 7 and 9 in Shah ty.com, the average asking price for Puncak Alam, Seksyen 10 in Kota Damansara and Athenaeum is about RM380,000 or RM215.30 Kampung Pasir Bahru in Puchong. psf; Oakleaf Park is about RM245,000 or RM274.87 psf; Wangsa Heights is about Bukit Antarabangsa RM363,000 or RM202.68 psf; and Kyoto Gar- Interestingly, the four condos which den is about RM350,000 or RM240.88 psf. recorded the highest y-o-y price growth ranging from 13.6% to 18.4% were all in Bukit Ampang and Shah Alam continue to rise Antarabangsa, namely Puncak Athenaeum, Ukay Perdana and Taman Bukit Indah in Kyoto Garden, Oakleaf Park and Wangsa Ampang as well as Seksyen 7 and 9 in Shah Heights. Th ese are mainly old condomini- Alam are also home to condos with double-dig- ums which are between 15 to 30 years old. it growth ranging from 10.6% to 11.7% last year. Real estate agent and currently Axis REIT Th e condos which enjoyed good capital The properties in Bukit Antarabangsa have been overlooked by investors for the past few years Managers Bhd head of investments Siva Shan- appreciation include Kristal View Condo- ker tells Th eEdgeProperty.com that the prop- minium in Seksyen 7 and Kemuncak Con- erties in Bukit Antarabangsa have been over- dominium in Seksyen 9, Shah Alam. Over in Perdana is RM253,444 or RM345.98 psf, plains. Based on listings on Th eEdgeProperty. looked by investors for the past few years. Ampang, Spring Ville condo in Ukay Perda- while for Emerald Hill it is about RM462,500 com, the average asking price for Kemuncak However he cautioned that, “Th e pricing na and Emerald Hill in Taman Bukit Indah or RM371.56 psf. Condominium is about RM435,833 or of below RM500,000 may seem like a bargain were among the top performers. On Shah Alam’s growing potential, Wong RM300.09 psf while Kristal View is asking for buyers, but the negative perception of Chan notes that condos which are located from Oregeon Property says the industrial for RM510,000 or RM443.94 psf. In general, Bukit Antarabangsa may cap price growth”. within established areas with a high popu- activities in Shah Alam have not only created the average asking price for condos in Shah Located in Ulu Klang, Bukit Antarabang- lation density such as Ampang will attract more job opportunities but are also spurring Alam is about RM409,846 or RM468 psf. sa was once regarded as an elite residential homebuyers. growth of the local population, which in turn Besides Shah Alam, Wong foresees area with hill views. However, the collapse Both Ukay Perdana and Taman Bukit raises demand for homes. places with industrial parks to become popular of Highland Towers in 1993 and subsequent Indah are mature townships, about 12km Seksyen 7 and 9 are located 7km to 13km townships, such as areas close to the Rawang landslides in 1999 and 2008 have aff ected de- to 14km away from KLCC. away from the Hicom Industrial Estate and Integrated Industrial Park, the Kun- mand for properties in this hillside enclave. Th eEdgeProperty.com’s analysis of cur- within 20km from industrial areas which are dang Industrial Park and Sungai Buloh “The challenge is to get rid of the rent listings shows that the condos in the scattered around Shah Alam and Setia Alam. Industrial Park. perception of the high erosion risk of the Ampang area have an average asking price “More highways are connecting the hilly area and to regain buyers’ confi dence of RM487,580 or RM442 psf. residential areas in Shah Alam and the Puchong and Kota Damansara still the in this place. Once the negative percep- According to recent listings, the improved accessibility is encouraging more darling of investors tion wears off, we may see even more average asking price for Spring Ville in Ukay people to work and live here,” Wong ex- Another interesting finding in the Top

Puncak Kyoto Garden, Oakleaf Park, Wangsa Heights, Kemuncak Athenaeum, Bukit Antarabangsa Bukit Antarabangsa Bukit Antarabangsa Condominium Bukit Antarabangsa 1,453 1,044 710 Seksyen 9, Shah Alam 1,237 258,000 230,000 - 240,000 110,000 1,227 185,000 - 200,000 285,000 - 310,000 250,000 - 285,000 125,000 320,000 - 410,000 220,000 - 230,000 15.6% 13.8% 13.6% 355,000 - 450,000 18.4% 11.7%

Est average built-up (sq ft) Transacted price range FRIDAY JUNE 10, 2016 • THEEDGE FINANCIAL DAILY TEP 7 COVER STORY

SHAHRIN YAHYA | TheEdgeProperty.com

BY TTANAN AAII LELENGNG Asking prices for condominiums in Selangor as of June 1, 2016 midst a Siva: The biggest Wong: Industrial challenge of Bukit activities have not Bukit Antarabangsa Antarabangsa is to only created more job Ulu Klang get rid of the negative opportunities but are perception of high also spurring growth Average asking price RM255,867 erosion risk of the of the local population Average asking price (psf) RM303 hillside Puncak Kyoto Oakleaf Wangsa Current Athenaeum Garden Park Heights asking price RM380,000 RM350,000 (RM) 2015 double-digit growth PICTURES BY MOHD IZWAN MOHD NAZAM, HARIS HASSAN, SUHAIMI YUSUF | RM245,000 RM363,000 TheEdgeProperty.com RM215.30 RM240.88 RM274.87 RM202.68 Current asking price condos in Selangor psf (RM)

Ampang Shah Alam Average asking price RM487,580 Average asking price RM409,846 Average asking price (psf) RM442 Average asking price (psf) RM468

Emerald Hill Spring Ville Kemuncak Condo Kristal View Condo in Taman Bukit Indah in Ukay Perdana in Seksyen 9 in Seksyen 7 RM462,500 RM253,444 RM435,833 RM510,000 RM371.56 RM345.98 RM300.09 RM443.94 Chan: Condos Khor: The future which are located infrastructure within established development will be areas with a high one of the main factors Kota Damansara Puchong population density that aff ect a buyer’s Average asking price RM567,026 Average asking price RM480,955 such as Ampang will decision Average asking price (psf) RM566 Average asking price (psf) RM414 attract homebuyers De Rozelle Condominium in Seksyen 10 Koi Tropika Condominium RM415,938 RM375,102 RM409.68 RM373.91 Tap here for listings of

10 list of double-digit growth condos in non-landed homes in Selangor Perindustrian Puchong and Bandar Puteri Th e average asking price for De Rozelle Selangor is that there are only two con- Puchong LRT stations. Condominium is RM415,938 or RM409.68 dos that have access to light rail transit Based on TheEdgeProperty.com list- psf. It is located about 5km to 6km away (LRT) or mass rapid transit (MRT) sta- ings, the current average asking price for from the Surian and Kota Damansara MRT tions. They are Koi Tropika in Puchong Koi Tropika is RM375,102 or RM373.91 psf. stations. and De Rozelle Condominium in Seksyen In general, condos in Puchong are asking Chan from JS Valuers says projects which 10, Kota Damansara. Khor believes once the LRT/MRT lines are for an average of RM480,955 or RM414 psf. are located near to LRT and MRT stations Hence, for these two condos, besides fully operational, the projects along the lines Meanwhile, Seksyen 10 in Kota Daman- or close to universities and higher learning their low entry cost, the rail transport in- will enjoy capital appreciation of 20% to 30%. sara has access to the Surian and Kota Da- institutions will provide sustainable rental frastructure could have impacted price Th e Ampang LRT Line extension’s four mansara MRT stations. Kota Damansara income for investors. growth here, says City Crest Realtors prin- stations in Puchong — IOI Puchong Jaya, has become a property investment hotspot “However, the market is currently cipal Darren Khor. Pusat Bandar Puchong, Taman Perindus- especially with the upcoming MRT Sungai undergoing consolidation hence they may “From the investor’s perspective, Pu- trian Puchong and Bandar Puteri Puchong Buloh-Kajang Line, which is slated to start not show signifi cant increases in pricing. In- chong and Kota Damansara in general have — have commenced operation as of end- operations by the end of this year. vestors have to wait until the infrastructure great potential as these two places are lo- March this year. Koi Tropika is located at According to TheEdgeProperty.com, is completed and for consumer sentiment cated along the public rail transport align- Kampung Pasir Bahru Puchong next to Ban- the average asking price for condos in Kota to improve before the next price uptrend,” ment,” he adds. dar Puteri Puchong and close to the Taman Damansara is about RM567,026 or RM566 psf. he explains.

Top SOURCE: NAPIC | GRAPHICS: NURUL AIDA MOHD NOOR | TheEdgeProperty.com condominiums in Selangor that enjoyed double-digit price growth in 2015 10 (properties priced below RM500,000) De Rozelle Kristal View Spring Ville Koi Tropika Emerald Hill Condominium Condominium Ukay Perdana, Condominium Taman Bukit Indah, Seksyen 10, Seksyen 7, Ampang Puchong Ampang Kota Damansara Shah Alam 893 850 1,227 1,012 990 155,000 - 245,000 230,000 - 310,000 350,000 - 410,000 331,000 - 415,000 326,000 195,000 - 242,000 308,000 - 322,000 340,000 - 460,000 370,000 - 475,000 343,000 - 380,000 10.7% 10.6% 10.6% 11.7% 10.9% e in 2014 (RM) Transacted price range in 2015 (RM) y-o-y change* *The year-on-year change is calculated based on average selling price of annual transacted volume. TEP 8 FRIDAY JUNE 10, 2016 • THEEDGE FINANCIAL DAILY DEALMAKERS

Village project in front of Notttingham University Adding value to real in Semenyih,” Tian recalls. “Th ere was another deal which I put a lot of ef- fort into when I fi rst started out but was aborted due to unavoidable reasons. However, the owner estate customer service and I kept in touch and he came back to me to buy ...always a bungalow two years later with a commission a few times higher than the aborted deal. So every Reapfi eld Properties’ Matt Tian aims compete with cloud has a silver lining,” he adds. But those were the days. Tian is now a team to be there for his customers at all times yourself and leader to 13 real estate negotiators at the Reapfi eld Properties’ Ampang branch. not others “I think one of the most important criteria to BY NATALIE KHOO other sales job which gave him more stable work- succeed in this fi eld is to always compete with ing hours. Tian believes it is important to have — Tian yourself and not others. Everyone has their own t is hard to believe that Matt Tian, the head of work-life balance. journey to pursue. If you keep comparing your- sales at Reapfield Properties Sdn Bhd’s Am- As he had just settled down then, he and his self with others and their achievements, you will pang branch, was once a shy boy who did not wife were looking for a house of their own. “It was always feel inadequate because you will feel like enjoy talking to people. when we I were scouting around for a house and you’ll never reach their standards. Instead, use “I wasn’t the most confi dent nor the most talking to real estate negotiators that I thought, why their success as a motivation and inspiration for fl uent when it came to the English language. don’t I try and see if I can have a career in the real you to be better at your work,” says Tian. ITh e dictionary was my best friend and I learned a estate industry? After doing some research about “This industry may seem like a simple and handful of words daily and improved my vocab- the industry, I took the plunge and went for it in straightforward one where you just have to be a ulary from there,” shares Tian. 2008,” says Tian. salesman and sell property. However, if you “My boss told me to get a voice recorder to record Th ere were ups and downs when he started want to stand out and be a professional, my speech and then listen to what I sounded like. out. “It took me almost a year before I closed you need to be able to add value to your Th at was exactly what I did and I learned to adjust my fi rst deal. In between I had some deals service,” Tian notes. my pronunciation and speed when conversing with which were not successfully transacted What value-added services are others,” says Tian, 35, who has a degree in comput- and I was slightly discouraged,” these? “Well, you need to know what er-aided geographic design from Universiti Sains he recalls. is going on in the current market, Malaysia, Penang, which he obtained back in 2004. However, he persevered and changes in policies and econom- “I came to KL empty-handed hoping to make decided to focus on Kuala Lum- ic conditions. Anyone can sell, but my fortune,” he recalls, and tried his hand at sev- pur, specialising in the Ampang with these added information, clients eral diff erent jobs. He started as a staff for a TV area. “I did not bother so much know they can trust you because you commercial company. “Th e hours were really long about the commission or sales are advising them based on facts. and I had to work for a few days in a row until the value, I just took every deal I “Always be there for your clients shoot was completed,” he says. closed as a lesson for me to even after a sale has been concluded He subsequently moved on to work with a pub- be better at my job,” says Tian, as they may need you to help them sort lisher in charge of distributing career and education who took on all kinds of listings out property-related matters,” shares magazines to secondary schools. After a year, he and gradually built his network Tian, who does not believe in what he decided to take on a sales job selling vacation club of clients. calls the “hit-and-run” attitude. packages for a hotel. “My weekends and weeknights “Although it was tough in the His plans for the future? “I want to lead were always fi lled [with work] because most of the beginning, I saw my hard work my team to give our very best to service our customers came in after work.” paying off when I was able to clients. I am blessed to be where I am today Due to the long and odd working hours and as assist a client to sell off some and I want to continuously learn and grow PATRICK GOH / TheEdgeProperty.com he was newly-married at that time, he left for an- 150 apartment units at the Uni- in my career,” says Tian.

FEATURE 5 smartphone photo tips to help sell your property

GRAPHICS: NURUL AIDA MOHD NOOR/ TheEdgeProperty.com BY RACHEL CHEW 1. Keep natural light out Natural light may not always be good for photo-taking because it is not picture speaks a thousand easy to control. To take an ideal interior photo with your smartphone, it 5 tips is better to keep natural light out. words, and sometimes a good photo does a better A for smartphone The best time to shoot a residence, be sales job than any sales pitch by One tip is to draw real estate it the interior or the exterior, is in the the curtains and a real estate agent. morning and afternoon – by taking turn on all interior An Australian-based real es- photography the picture from the east in the lights to control the tate photographer Kent Soh tells morning (sunrise) and from the west tone of the photo. TheEdgeProperty.com that photo- in the afternoon (sunset). graphs are among the most crucial 5. Photo editing help elements in attracting potential Photo editing softwares home buyers. are essential for photos 2. Set a focus point taken by professionals. “Photos can attract potential This will help to highlight the parts you want to Same goes for smart- buyers and help them imagine liv- show. Fix the camera setting or use your photogra- phone photos. ing in that place. This is a strong phy skills to angle the photo. Sounds difficult? Well, just use the “brilliant” function of the focus engagement,” Soh says. Smartphone photo He adds that one does not need box in your phone’s camera. Then, on the screen, tap the object editing apps are you would like to focus on before you shoot the photo. The simple to use and a professional camera to take good auto-setting will do the job for you. create good results. home interior and real estate pho- tographs. Useful tools like cropping, 4. Focus on room corners brightening or blurring, “We have high-quality smart- 3. HDR function for the right exposure Before attempting to take a angle adjustments and phone cameras nowadays. If you A picture that’s too bright or too dark isn’t good. picture, clean and tidy up filters are can master some photography Some smartphones are equipped with a High the space first. Clear all useful. clutter and extra objects. skills, you can take great photos Dynamic Range (HDR) function, and that is the Step 1- choose filter tool to use to adjust the exposure level when Then frame and compose the pictures, by just using your phone’s cam- taking a photo. focusing on the corners of the room to

BEFORE era,” Soh shares. create an open, airy and spacious feel. AFTER Usually, by using HDR, your phone’s camera will automatically PHOTO Here are five smartphone real turn down the brightness level when taking an outdoor photo and, A flat wall photo would make the room APP estate photography tips from Soh vice versa, bring in more light when indoors. look small. to help you sell that property! FRIDAY JUNE 10, 2016 • THEEDGE FINANCIAL DAILY TEP 9 FEATURE These multimillion-dollar homes let the outdoors in Luxury estates in Malibu, Palm Beach, Provence and Cannes

If location is everything to a home's value, it stands to reason is conducive to indoor/outdoor living. that a particularly valuable home should be oriented, in These four properties, from Provence to Palm Beach, turn, to its location. This is especially true in settings whose have successfully integrated their architecture into the weather is beautiful, views are spectacular, and temperature landscape, to stunning eff ect.

PHOTO BY KNIGHT FRANK

The 1,000 sq ft terrace of this Cannes Penthouse overlooks the Mediterranean

Cannes Penthouse, for US$16.2 million (RM65.8 million) et on the Boulevard de la Croisette, a road that snakes and kitchen, all connected. There's also a small studio for ing table and entertaining space. Glass doors tuck away along the beach in Cannes, France, this 2,500 sq ft, staff with a separate entrance, two underground parking to combine the indoor and outdoor living areas. Given Sfour-bedroom, four-bath penthouse is oriented ex- spots, and two storage cellars. that Cannes is on the French Riviera and has temperatures clusively toward its ocean views. The apartment is set up All the unit's public rooms open onto a 1,000 sq ft that rarely dip below 40 degrees, you can pretty much use in an open plan: Indoors are the living area, dining room terrace, which has enough space to include its own din- this set-up year-round.

PHOTO BY ANDY FRAME/SOTHEBY'S INTERNATIONAL REALTY PHOTO BY KNIGHT FRANK PHOTO BY MICHAEL MCNAMARA/SHOOTING LA

The Palm Beach mansion, which has a pool and tennis court A refurbished farmhouse on an estate in Provence, France This mansion is located an hour from downtown Los Angeles

Contemporary Mansion in Palm Beach, Restored Farmhouse in Provence, Hillside Mansion in Malibu, for US$11.75 million for US$5 million for US$9.995 million This 5,100 sq ft house, designed by the contemporary archi- Set on almost 10 acres of land near the medieval town Located in Point Dume, California, an area in Malibu that's tect Milton Klein, is set on a 0.65-acre lot on an ocean-block of Oppède, France, between Avignon and Aix-en-Provence south of the Pacifi c Coast Highway and overlooking Paradise street in Florida's Palm Beach. The six-bedroom, six-bath, (both just under an hour away), this 4,520 sq ft farmhouse Cove, this 4,880 sq ft house is about an hour's drive from and two half-bath house comes with a tennis court, tiled has been refurbished and converted into an (almost) con- downtown Los Angeles. The house, fi nished with Brazilian swimming pool and a Jacuzzi, plus gated beach access. temporary estate. The home has extensive gardens and hardwood and polished concrete fl oors, has four bedrooms, Most of the ground-fl oor rooms open onto either the paths, its own vineyard, a square pool, and several pavilions two baths, and three half-baths and was built explicitly for tennis court, the home's multiple terraces, or its lush, private constructed out of former storage sheds, all of which are indoor/outdoor living. gardens — which means that if you're not blasting the air open to the elements. Happily, Provence is temperate for There's a Miele-equipped kitchen, a three-car garage, conditioning inside, you can enjoy the inside-outside vibe. most of the year, which means the outdoor living spaces can and an in-ground pool and Jacuzzi, along with a cabana and There's also a three-car garage that houses a complete receive ample use. built-in outdoor seating. This being Southern California, you catering kitchen. In total, the house has four bedrooms and four baths, all can expect the latter to get a lot of use. — Bloomberg meticulously restored. The house comes with an olive grove, several outbuildings, and zoned permission to build a garage. TEP 10 FRIDAY JUNE 10, 2016 • THEEDGE FINANCIAL DAILY FEATURE Buildings in China that border on the bizarre

BY IZZAT ZULHILMI RATNASARI

ver the past few decades, China has defied the rules of architecture in coming up with build- ings that have earned the country the “recog- Onition” of having the most “literal” buildings in the world. Here is a compilation of some of these buildings — some are vividly larger than life while others come with unusual features that seem to defy engineering conventions. On the other hand, many who have seen this architectural phenomenon have questioned whether such building de- signs are really those that China wants to dot its skyline. So, while some call them unique and innovative, others see them as downright ugly. In an online post on March 11, entitled “Is this the ugliest building you’ve seen?” the Daily Mail of the UK reported that Internet users in China have been debating about the country’s ugliest buildings. A comment cited that the architect of the Mobile Phone Building in Yunnan province has “too wide an imagination”. Moreover, a month prior in Feb- ruary, China’s State Council released guidelines on urban planning to curb the construction of “weird and odd- shaped buildings in the country”. Th e council called for buildings to keep in line with cultural heritage and to be environmentally friendly. Even China’s president, Xi Jinping, had voiced his opinion on what build- ings in China should look like. Th e Guangzhou Circle Guardian of UK, in a report back in Guangzhou Circle is located on the edge of the Pearl River and is supposed to resemble an ancient Chinese Oct 23, 2014, quoted him calling for Jade, which has a religious symbolism — the circle represents heaven or eternity. The 138m Guangzhou “morally-inspiring architecture that Circle was designed by Di Pasquale of Milan Studio AM Project to provide an iconic headquarters for Chinese should be like sunshine from the blue companies Guangdong Hongda Xingye Group and GDPE Guangdong Plastic Exchange. sky and the breeze in spring that will inspire minds, warm hearts, culti- vate taste and clean up undesirable work styles”. Th e quote came from NEWS NSTER DEPOSITPHOTOS Xi’s two-hour speech at a literary symposium in Beijing a week prior to the news report. Beauty lies in the eyes of the be- holder — you be the judge.

Mobile Phone Building, Yunnan Even back in the day where large cellular devices were the trend, we bet nothing could have matched this creation — an 11-storey mobile phone-shaped building that features “press button” windows and a penthouse offi ce that looks out through the “screen”. There is Galaxy Soho, Beijing even a hand holding China’s Galaxy Soho is a large development comprising a mix of offi ce and retail the phone. This building space with a gross fl oor area of 328,204 sq m. The development is located on a is in southern China’s 50,000 sq m lot in central Beijing. The dynamic form of the complex creates a Yunnan province along continuous internal space. It has defi nitely made its presence felt along Beijing’s Huancheng Road. East 2nd Ring Road. FRIDAY JUNE 10, 2016 • THEEDGE FINANCIAL DAILY TEP 11 FEATURE

REUTERS REUTERS DEPOSITPHOTOS

National Centre of Performing Arts (NCPA), Beijing This steel-structured oval shell located in Beijing looks like an egg that is made up of approximately 18,000 titanium plates and about 1,000 sheets of ultra-white glass. At the weight and height of 6,457 tonnes and 212.2m, it is the largest dome in the world to date. Surrounding the centre is a crystal-like artifi cial lake measuring about about 35,500 sq m.

REUTERS

China CCTV offi ce building, Beijing The CCTV headquarters aims to be an alternative to the sky- scraper. Instead of competing in the race for ultimate height within a traditional two-dimensional tower “soaring” skyward, CCTV’s loop poses a three-dimensional experience, culminat- ing in a 75m cantilever. The building is visible from most of Beijing; it comes across as sometimes big or sometimes small, and strong or soft, from diff erent angles.

REUTERS

Teapot building, Wuxi, Shanghai This gigantic replica of a Chinese teapot is 38.8m high and approximately 50m in diam- eter. It is made up of aluminium sheets and diff erent sized panels of stained glass used for its central curvature. It is located at the borders of the Yangtze River and Lake Taihu and serves as an exhibition centre designed in reference to local customs.

DEPOSITPHOTOS

TV Tower, Shanghai The Orien- tal Pearl TV Tower located in Pudong Park, Lujiazui, Shanghai is estimated to be as high as 468m and is currently Sheraton Huzhou Hot Spring Resort the world’s sixth Completed in 2013, the hotel resort is shaped like a gigantic doughnut and measures highest tower around 100m high and 116m wide, covering an area of 75 acres. This 27-storey building and China’s overlooks Lake Taihu and comprises 321 rooms, 37 villas and 40 suites. Conceived by tallest TV and architect by Yansong Ma, it is a 14-minute walk from Huzhou Talhu Tourism Holiday radio tower. Resort and 12km from the Museum of Art China Hubi. TEP 12 FRIDAY JUNE 10, 2016 • THEEDGE FINANCIAL DAILY FEATURE Specialised malls – carving a niche for themselves

PICTURES BY HARIS HASSAN + KENNY YAP | TheEdgeProperty.com BY RACHEL CHEW

hopping centres have been evolving since the 1950s. And to date, there are eight types of shopping centres as de- fined by the International Council of Shopping Centres (ICSC). Although specialised malls are not Sincluded in the list, we have over time seen a num- ber of malls in Malaysia evolve into specialised malls, focusing on one particular product cate- 1 2 gory. Th ese include Low Yat Plaza, which focuses on IT, digital and mobile phone technology and gadgets, and Shopping Centre, which focuses on home furnishings and furniture. Both malls are in Kuala Lumpur. Other specialised malls include Th e Wedding Hub @ One City in USJ, the Ideal Convention Centre (IDCC) in Shah Alam (home decoration), Ikano Power Centre in Mutiara Damansara (fur- niture and home decoration) and Th e School @ Jaya One (children’s education). Henry Butcher Retail managing director Tan Hai 3 4 Hsin does not consider specialised malls a new trend in retail industry but a sign of market evolution. “More specialised shopping centres are estab- lished as the population becomes more affl uent. Th e specifi c category of goods or services in a specialised shopping mall usually accounts for more than 60% of the total retail space, he says, adding that there are not many specialised shop- ping centres in Malaysia. (See list) He says it is usually the surrounding environ- ment that has shaped the market position of these retail centres into specialised ones. 5 6 “For example, Kenanga Wholesale City in Jalan Ge- lugor, Kuala Lumpur is surrounded by major fashion wholesalers that have been operating there for dec- ades. Similarly, GM Plaza in Chow Kit is surrounded by wholesalers of fashion, gifts and homeware who have been there for many years,” Tan shares. He reckons that changes in the immediate mar- ket also contribute to the evolution of a mall into a more specialised one. “For instance, when the rentals in Plaza Imbi became too high for some operators, they moved to Low Yat Plaza. Th e same goes with Berjaya Times 7 8 Square. Today, has overtaken as the leading shopping centre GRAPHIC: TheEdgeProperty.com that caters to teenagers and young adults.” Tan says specialised shopping centres tend to be more successful in city centres and major shop- Some specialised shopping ABDUL GHANI ISMAIL | TheEdgeProperty.com ping districts where there is a high concentration of shoppers. malls in the Klang Valley Focusing on a specifi c trade off ers a wider variety of goods and services in a particular trade and could 1. Low Yat Plaza, Kuala Lumpur – IT and gadgets attract shoppers from near and far, but the risk of 2. Digital Mall, Petaling Jaya – IT and gadgets operating a specialised shopping centre is also high, 3. Kenanga Wholesale City, Kuala Lumpur – Fashion says Tan, as the trade depends on consumer shopping 4. GM Klang – Fashion behaviour and patterns which may change. 5. The School @ Jaya One, Petaling Jaya – Educational materials According to JLL Property Services country head 6. Viva Home, Cheras – Furniture Tan says specialised and managing director Y Y Lau, malls such as Low 7. Ideal Convention Centre – Furniture shopping centres Yat Plaza, where the majority of its tenants are spe- 8. The Wedding Hub @ One City, USJ – Wedding items tend to be more cialised in a particular category of product or service, successful in city can be considered as a new category of retail centre. centres She believes a specialised shopping mall has the advantage of attracting a more focused group of HARIS HASSAN | TheEdgeProperty.com shoppers or enthusiasts who can’t fi nd what they “As specialised shopping malls only cater to a want at a general retailer. specifi c group of consumers, they lack the attrac- “If a specialised shopping centre is located near tiveness to entice shoppers to visit the mall for to another non-specialised mall, both malls would leisure. Th erefore, we do not foresee specialised benefi t each other as there will be visitors moving shopping malls to be immune from this challeng- between the two malls,” she says. “Specialised malls ing economic situation,” Lau says. are seen to be complementary and could be located Although specialised shopping malls are a niche Lau believes close to places off ering activities for a similar age and market, she believes it won’t be a retail hotspot for a specialised income group of shoppers of the specialised mall.” the time being. shopping mall has On the outlook for specialised malls, Lau says “Moreover, the growing online shopping trend the advantage of as a large supply of retail will be coming into the may have an impact on sales of brick and mortar attracting a more market in the next few years, product diff erentia- retail outlets. Th erefore, it is important for retailers focused group of tion is important in attracting tenants and, more to diff erentiate themselves to attract higher sales in shoppers importantly, shoppers. this competitive environment,” Lau remarks.

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