LISTINGS . NEW LAUNCHES . NEWS . DATA . ANALYTICS A PULLOUT EVERY FRIDAY WITH Th eEdgeProperty.com FRIDAY, SEPTEMBER 9, 2016 . ISSUE 2246/2016 . PP19055/06/2016(034530) ONLINE + OFFLINE

5 NEWS M101 Holdings taps into property tourism

6 NEWS Housing Ministry to issue money- lending licences to property developers

Property prices in have risen over the years. Find out why on pages 8 and 9.

12 FEATURE ‘Awesome’ off ers by property developers TEP 2 FRIDAY SEPTEMBER 9, 2016 • THEEDGE FINANCIAL DAILY NEWS HIGHLIGHTS from TheEdgeProperty.com

Exsim to launch its SkyLuxe in Bukit Jalil biggest project by expected to be sold year end out by year end Exsim is looking to launch its big- The Edge Property SkyWorld Development Sdn Bhd is gest project, in terms of value and expecting its latest high-rise resi- number of units, by year end. dential development, SkyLuxe on Nidoz Residences @ Desa Petal- Hua Yang to launch the Park @ Bukit Jalil (SkyLuxe), to ing, is a condomin- Astetica Residences be fully sold within this year, said its ium project with a gross develop- executive director and chief operat- ment value of RM1.3 billion. in 3Q2016 ing offi cer Lee Chee Seng. It is part of a joint-venture pro- Hua Yang Bhd plans to launch a To date, some 78% of the project ject with Yayasan Wilayah Perse- RM368 million mixed development have been sold. kutuan. known as Astetica Residences in Seri “We are aiming confi dently to ful- Nidoz Residences will comprise Kembangan, , within this ly sell this project before the end of 80-acre Bukit Jalil Recreational Park 1,305 units in four 40-storey blocks. Publisher and Group CEO quarter (3Q2016). this year,” said Lee. and opposite the 165-acre Bukit Jalil The units come in two sizes — 1,219 Ho Kay Tat Hua Yang’s fi nancial controller Joe SkyLuxe has a gross develop- Golf and Country Resort,” Lee said. sq ft and 1,403 sq ft. Tan (pictured, left) said the launch is ment value of RM411.6 million. It The project is priced at an aver- The units will be equipped with a pending the relevant approvals from off ers 477 units with built-up sizes age of RM760 psf and will be com- washer, dryer, hood and hob, refrig- the authorities. ranging from 661 sq ft to 1,224 sq ft. pleted in early 2020. erator, oven, air conditioner, water Astetica Residences sits on a 3.73- It is priced from RM600,000 to RM1 The development is just a heater, wardrobe and kitchen cab- acre site in . It consists million. two-minute walk to the future inets. Each unit also comes with The Edge Property Sdn Bhd (1091814-P) of two towers with 520 units of serviced “SkyLuxe comprises two towers Pavilion Mall 2 and 1.2km from the two parking bays. The selling price Level 3, Menara KLK, No 1 Jalan PJU 7/6, Mutiara Damansara, 47810 apartments, 48 units of studio apart- of 43 and 44 storeys sitting on a Awan Besar Mass Rapid Transit starts from RM774,100 or an average , Selangor, Malaysia ments and 26 retail units. 1.85-acre freehold site next to the (MRT) station. of RM600 psf. The serviced apartments come in Exsim opened for sale 900 units fi ve designs with built-up sizes from in Blocks B, C and D to business Th eEdgeProperty.com 748 sq ft while the studios are from term rewards and appreciation pro- Citizen Setia members who in- associates and previous buyers in Managing Director/Editor-in-Chief 558 sq ft. The serviced apartments gramme called Citizen Setia for its troduce their friends and fami- January, and some 60% have since Au Foong Yee are priced from RM546,040 while the existing and new property purchasers. ly to purchase any participating been sold. The development will be EDITORIAL studios start from RM412,920. “By being a part of this, they [pur- S P Setia properties through the offi cially launched next month. Editor Lam Jian Wyn The retail units are from 821 sq ft chasers] will belong to a privileged Introducer Reward Points (IRP) Contributing Editor Sharon Kam onwards and priced from RM656,800. class of community who will enjoy payout and rewards scheme will Deputy Chief Copy Editor James Chong “We will launch Tower A and the many privileges,” said president and receive up to 2% cash reward paid Senior Copy Editor retail units fi rst, followed by Tower B,” chief executive officer Datuk Khor within 30 days upon the signing Shanthi Murugiah said Tan. Chap Jen during the launch. of the Sales and Purchase (S&P) Writers Rachel Chew, Tan Ai Leng, Those who have purchased se- agreement, along with a signed Natalie Khoo, Shawn Ng, Lum Ka Kay Art Director Sharon Khoh S P Setia launches lected Setia properties this year will and stamped loan agreement. Suc- Design Team Nik Edra, be in the running to win a trip to cessful introducers will also be Nurul Aida Mohd Noor Citizen Setia and Triple A Gold campaign the prestigious Royal Horticultural given a 99.99% gold coin. For New Launches/Events/ Society (RHS) Chelsea Flower Show Press Releases/News Tips S P Setia Bhd has launched a long- 2017 in London. email: [email protected] Tel: 03-7721 8211 Fax: 03-7721 8280 How do I get past issues of this weekly pullout? Email: [email protected] Go TheEdgeProperty.com ADVERTISING & MARKETING trending to download for free Head of Marketing and Sales Sharon Chew (012) 316 5628 now Senior Account Manager Jayne Law (016) 929 3309 Account Managers Jayremy Sim (011) 1669 6039 If you have any real estate-related events, email us at [email protected]. Jocelyn Poo (012) 611 5626 LAUNCHES + EVENTS Events listed here will also appear on TheEdgeProperty.com. Marketing Support & Ad Traffi c Madeline Tan (03) 7721 8218 email: [email protected] Eco-pods will feature eye- Harbour, Iskandar Puteri, Johor and a Chinese orchestra Email : [email protected] catching, vertical fruit and Contact: 1800 888 008 performance. There will also NEGOTIATOR ADVISORY SERVICE vegetable gardens to highlight be clay doll giveaways. Senior Manager Elizabeth Lay one of Estates’ signature Date: Sept 18 (Sun) Senior Associate Stannly Tan Maspex 2016 @ Penang Associate Karen Wong feature — the community farm. Time: 5pm to 9pm Venue: The Square @ Publika, Date: Sept 22 to 25 (Thurs to Sun) For enquiries and listings Seremban 2’s community 1 Jalan Dutamas 1, Solaris Time: 10am to 10pm email: [email protected] activity GL: (03) 7721 8175/ 8172 Dutamas, Kuala Lumpur Venue: Queensbay Mall, Persiaran Email: [email protected] Gamuda Land’s Kundang Date: Sept 11 (Sun) Contact: 1800 888 008 Bayan Indah, Bayan Lepas, Penang Estates pop-up Eco-pod activity Time: 9am to 4pm These three Mid-Autumn Contact: (03) 7960 2577 Date: Sept 10 and 11 (Sat and Sun) Venue: Pasar Seni, Seremban 2, Festival parties are organised The Malaysian Institute of Estate TheEdgeProperty.com pullout is published by The Edge Property Sdn Time: 10am to 10pm Taman Bukit Kepayang, Seremban by UEM Sunrise. Besides a snow Agents’ Malaysian Secondary Bhd. It is available with The Edge Venue: AEON Metro Prima, Contact: (017) 222 1716 (Ally) mooncake workshop, there will Property Exhibition (Maspex) Financial Daily every Friday. The Jalan Metro Prima, Taman Seremban 2’s developer, IJM also be storytelling sessions, a 2016 will be showcasing new pullout is also distributed at more than 200 offi ces, shopping complexes, , Kuala Lumpur Land Bhd, invites the public colourful pomelo contest, sand projects and properties on the condos, medical centres, F&B outlets Contact: (014) 234 8537 to take part in a day of family art by Loong Bee and mask- secondary market. Property and LRT stations in the Valley. activities at Seremban 2. changing performances. experts and consultants will You can also download it for free at Date: Sept 16, 17 and 18 Activities include Chinese chess also be giving talks on the www.TheEdgeProperty.com (Fri, Sat and Sun) (with prizes), Chinese lantern OSK Property’s property market including Time: 10am to 10pm riddles, a mooncake making Luminari from TheEdgeProperty.com. Th e Edge Malaysia Venue: Tesco Rawang, Jalan demonstration, an art exhibition Mid-Autumn Festival Renovation Expo 2016 EDITORIAL Rawang, Taman Setia Rawang and a festive street bazaar. Editor-in-Chief Azam Aris Contact: (014) 234 8537 Date: Sept (REX 2016) CORPORATE UEM Sunrise 10 (Sat) Date: Sept 9 to 11 (Fri to Sun) Chief Operating Offi cer Lim Shiew Yuin Date: Sept 17 (Sat) Mid-Autumn Festival Time: 6pm Time: 11am to 9pm ADVERTISING & MARKETING Chief Commercial Offi cer Time: 10am to 10pm Date: Sept 10 (Sat) to 9:30pm Venue: Mid Valley Exhibition Sharon Teh (012) 313 9056 Venue: Mall, Time: 3pm to 9pm Venue: Harbour Place Sales Centre, Mid Valley Megamall, General Manager Taman Selayang Utama, Venue: UEM Sunrise Gallery, Jalan Chain Ferry, South Tower, Kuala Lumpur Kingston Low (012) 278 5540 Senior Sales Managers , Selangor Showcase, 21, Jalan Kiara, Butterworth, Penang Contact: (03) 9056 3323 Fong Lai Kuan (012) 386 2831 Contact: (014) 234 8537 Mont’Kiara, Kuala Lumpur Contact: (04) 332 1188 REX 2016 off ers one of the widest Gregory Thu (012) 376 0614 Gamuda Land will be setting Contact: 1800 888 008 OSK Property is inviting all to selection of home renovation Michael Tan (012) 213 0252 Peter Hoe (019) 221 5351 up pop-up Eco-pods in three join its mid-autumn festival products showcasing interior Creative Marketing selected malls and hypermarkets Date: Sept 17 (Sat) celebration this weekend. design, renovation, refurbishing, Chris Wong (016) 687 6577 to promote its Kundang Estate Time: 6:30pm to 10pm Activities include lantern landscaping and smart home Head of Marketing Support & Ad Traffi c township project. The pop-up Venue: Estuari Gardens, Puteri making, DIY mooncake workshop services and equipment. Lorraine Chan (03) 7721 8001 Email: [email protected]

TEP 4 FRIDAY SEPTEMBER 9, 2016 • THEEDGE FINANCIAL DAILY NEWS Hillcrest Gardens to launch green-certifi ed condominium in Utama

BY RACHEL CHEW 01. An artist’s impression of Puchong Heights, a PUCHONG: Hillcrest Gardens Sdn Bhd freehold development will be launching a medium high-end sitting on a 15-acre site in condominium project in Puchong, Sel- Taman Puchong Utama angor at the end of the year. “We are looking to launch Puchong 02. Goon: We will launch the Heights at the end of this year. It will be fi rst phase as soon as we another Green Building Index (GBI)-cer- receive all the necessary tified project by us,” Hillcrest Gardens approvals executive director Frank Goon told TheEdgeProperty.com. Hillcrest Gardens had recently launched the first GBI-certified Rumah Selangorku (Selangor’s affordable housing scheme) project in Taman Puchong Utama. The bicycle racks, bicycle road markers and Taman Puchong Utama Apartment was signages. Besides, more than 25% of the fully sold a few days after its launch on development area is covered with plants, July 19, said Goon. trees and water bodies. “Puchong Heights is a freehold devel- Taman Puchong Utama is accessible via opment sitting on a 15-acre site in Taman Lebuhraya Damansara-Puchong (LDP), Puchong Utama. The development has two Expressway (KESAS), Sun- phases and we will launch the first phase gai Besi-Puchong Highway, South Klang as soon as we receive all the necessary Valley Expressway, North-South Central approvals,” he added. 01 Link Expressway (ELITE) and Maju Ex- The development has a gross develop- pressway (MEX). ment value (GDV) of RM390 million. The has various amenities like supermarkets, “We have about seven plots, with a total first phase comprises two towers —38 and schools, sport centres, a park and a med- of 90 acres undeveloped land in Taman 40 storeys — with a total of 500 units. ical centre. Puchong Utama. We already have plans for “The built-ups range from 1,000 02 “Puchong Heights is designed as a all these remaining plots, such as high-rise sq ft to 4,000 sq ft. We will sell it at GBI-compliant condominium with the residences, commercial centres, a water- around RM650 psf. key elements of passive design such as park and offices. These plots will keep us “Banks are saying it is a good building location and orientation, build- busy over the next 25 years,” Goon noted. price and they will be supporting ing layout and features such as tinted Hillcrest Gardens is also a major de- us,” he said. windows, insulation (including window veloper in Taman Seri Gombak, Selangor. Puchong Heights is located and roof insulation), shading and venti- “We are planning to rebrand Seri Gom- within Hillcrest Gardens’ 600-acre lation,” said Goon. bak to add more value to the place. We will Taman Puchong Utama township Other green features of Puchong Heights build something more exclusive, green and development that began in 1995. HARIS HASSAN / TheEdgeProperty.com include a community garden/herb garden nice on the remaining 88 acres of land we Besides housing property, it also and bicycle facilities such as sheltered have in Seri Gombak,” he explained.

PPC Glomac looking to launch mixed development in Rawang by year end

PATRICK GOH / TheEdgeProperty.com BY SHAWN NG actually scaled down the built-up area of the terraced houses to make PETALING JAYA: PPC Glomac them more aff ordable. Th e price Sdn Bhd (PPC Glomac), a joint for the terraced houses starts from venture between Pembinaan RM730,000. Punca Cergas Sdn Bhd and “The terraced houses will be Glomac Bhd, plans to launch a gated and guarded in future and mixed development with an es- will be able to benefi t from the up- timated gross development val- coming MRT (Mass Rapid Transit) ue (GDV) of RM300 million in line, which is poised to become a Rawang this year. growth catalyst for ,” The project, which spans 40 said Choong. acres to 50 acres, has not been “Th e distance between the up- named yet as the company is still coming Sungai Buloh MRT station in the process of obtaining approval Choong: The and Aman Putri is about 8km. Resi- from the authorities, business de- terraced houses dents will take less than 10 minutes velopment manager Jason Choong launched in August to get to the MRT station. Th is MRT told Th eEdgeProperty.com. have achieved 70% line will really help boost property “Most of the units in the pro- take-up to date prices here,” he added. posed project will be landed hous- According to Choong, landed es with some shops as well. This approval, he added. deals as land prices will be lower 2,264 sq ft, Choong said. Another homes in Aman Putri’s phase 1, project will be a bit different as Choong said PPC Glomac will during the slowdown,” he added. launch was Putri Square compris- which were launched about fi ve we will preserve more green ar- continue to launch properties in Th e developer recently launched ing 25 shop units with a GDV of years ago at RM280,000 per unit, eas,” he said. its ongoing development of Aman two phases in Aman Putri — its RM46 million. have seen handsome capital ap- Although the developer hopes Putri in Sungai Buloh while look- maiden township project. “With a GDV of RM21,518,000, preciation to RM500,000 now. to launch the project by year end, ing for opportunities to expand its One of the launches off ers 29 the terraced houses launched in Aman Putri is a township pro- it depends on the approval pro- landbank during the current prop- units of freehold double-storey August have achieved 70% take- ject with an estimated GDV of RM1 cess. The launch may have to be erty market slowdown. terraced houses with a land area up to date,” he offered. billion. Th e township is 60% com- delayed to next year pending the “We are on the lookout for land of 24ft by 75ft and built-up size of He noted that the company had pleted to date. FRIDAY SEPTEMBER 9, 2016 • THEEDGE FINANCIAL DAILY TEP 5 NEWS M101 Holdings taps into property tourism

MOHD IZWAN MOHD NAZAM / TheEdgeProperty.com BY TAN AI LENG Yap (from left) explaining the residential area in Kuala Lumpur. design concept of M101 SkyWheel “With its own magnitude and KUALA LUMPUR: M101 Holdings to DBKL Advisory Board member unique design, M101 SkyWheel has Sdn Bhd is tapping into the prop- Datuk Mohd Sani Mistam; Tengku brought back excitement to the lo- erty tourism industry with its icon- Adnan; chairman of Kampung Baru cal real estate scene and this icon- ic development M101 SkyWheel Development Committee, Datuk ic building will certainly raise the which has a Ferris wheel on top of Aff endi Zahari and DBKL director standards of commercial and retail the building. Th e developer hopes (planning) Datuk Mohd Najib Mohd developments within the Klang it will become another must-vis- Valley,” he added. it tourism spot after the Petronas Foong Yee and director of business M101 Holdings has already Twin Towers in KLCC. and product development Alvin launched two projects, namely Its founder and executive direc- Ong as well as foreign media from M101 Dang Wangi and M101 Bukit tor Datuk Seth Yap Ting Hau said Hong Kong, Singapore and Indone- Bintang, which will be completed the integrated development off ers sia also attended the event. by June 2017. M101 SkyWheel is all the elements required to cater Federal Territories Minister the third and fl agship project un- to tourists’ needs and it could sup- Tengku Adnan Tengku Mansor der the M101 brand. port the government’s initiative in who offi ciated the event said the Yap said, moving forward, the promoting property tourism. M101 SkyWheel development company has plans to expand to “We see a big opportunity to bring could transform and revitalise the Langkawi as well as abroad such in foreign direct investments that Kampung Baru area as well as pro- as Karimun, Bintan and Bandung would benefi t not only the economy vide new amenities to the oldest in Indonesia. but also the retail industry,” he told reporters during the ground-break- ing of the development yesterday. Situated on a two-acre freehold TheEdgeProperty.com updates foreign media site located between Jalan Raja Muda Abdul Aziz and Off Jalan Tun Razak on the Malaysian property market in the Kuala Lumpur city centre, the project carries a gross development SAM FONG / TheEdgeProperty.com value (GDV) of RM1.4 billion. BY TAN AI LENG “We hope to take advantage of small underdeveloped land in the KUALA LUMPUR: Representatives city centre. With this we also hope from various media organisations to encourage both local and foreign in Hong Kong, Singapore and In- TheEdgeProperty.com investors to take interest in Malay- donesia were given an overview of managing director sia’s properties,” Yap said. the Malaysian property market by and editor-in-chief Au Th e development comprises two TheEdgeProperty.com yesterday. Foong Yee (middle), 78-storey towers and a Ferris wheel, TheEdgeProperty.com director of M101 Holdings legal which is 60m in diameter to be built business and product development director Datin Lea on the 52nd fl oor in between the Alvin Ong gave an hour’s presentation Chan and Ong (sixth two towers. on the Malaysian economy and its from right) posing It will feature SoFo units, a Sky- property market in recent years. with foreign media Mall that extends from the 48th to The foreign media were here to representatives the 52nd level off ering over 200,000 attend M101 SkyWheel development’s sq ft of retail space, serviced suites ground-breaking ceremony yesterday. as land and construction costs have and a hotel. Ong said new property launches risen,” he told the media. Th e 1,200 SoFo (small offi ce fl ex- and sales have dropped and the Looking forward, Ong noted that af- From left: Au, Chan ible offi ce) units will be offi cially number of overhang units with sell- fordable housing schemes will drive up and M101 Holdings launched in November this year. ing prices over RM500,000 has in- transactions, but this will also imply that founder and Th e units will have built-up sizes creased recently due to the current the HPI growth will slow down. executive director ranging from 400 sq ft to 800 sq ft market slowdown. The ongoing and completion of Datuk Seth Yap with estimated selling prices ranging “Despite the fall in transaction transport infrastructure projects are Ting Hau with the from RM1,200 psf to RM1,500 psf. volume, the housing price index expected to be the main catalyst for the SkyWheel building Th eEdgeProperty.com manag- (HPI) has grown 7% to 8% annually property market in future, he added. model ing director and editor-in-chief Au

World class sustainable cities vital for future generation

CHU JUCK SENG / TheEdgeProperty.com BY NATALIE KHOO inherit this [KL] city. It is only appropriate of the people,” said deputy minister of Fed- that the WCSC platform facilitates the shar- eral Territories Datuk Loga Bala Mohan who KUALA LUMPUR: Th ere must be continu- ing of best practices and ideas for the growth offi ciated the event. ous eff ort to bring together ideas and best of our city which include the views of the Th e 8th WCSC series is jointly organised practices on what makes cities sustainable young citizens of KL,” said Chan. by the Real Estate and Housing Developers’ as places to live and work for our future “Th e WCSC impact has gone beyond KL Association Malaysia, Wilayah Persekutuan generation, said organising chairman of and the . Indeed, more and more Kuala Lumpur (Rehda KL), the Malaysian In- the 8th International Conference on World local councils have sent their representatives stitute of Planners (MIP) and the Malaysian Class Sustainable Cities 2016 (WCSC) Chan to benefi t from the sharing of ideas at this Chan: The Institute of Architects (PAM). Kin Meng. conference,” he added. future Among the speakers who shared their Chan was speaking at the offi cial opening More than 500 participants showed generation knowledge on international best practices of the event yesterday. up at the event, including city officials, of our and case studies from other world class Th emed “City Spaces, Public Spaces”, it town planners, residents’ associations, society will cities during the event were New York was chosen with the objective of increasing professional consultants and property inherit this City commissioner of department of parks public spaces in the city of Kuala Lumpur developers. [KL] city and recreations Mitchell J Silver, Queens- through alternate initiatives such as pri- “Th ere is no denying that the future of our land University of Technology principal vate-public partnerships that collaborate country is urban. Already, 71% of the nation’s by 2025. Th e unprecedented growth in urban of Byrne Urban Design and Architecture with and engage the residents and end us- population lived in cities in 2010, and it is population will mean that the right strategies Professor John Byrne and Focus Archi- ers of KL city. projected that 80% of our population or 27.3 and actions need to be in place if we are to tects and Urban Planners director Mohd “Th e future generation of our society will million people will be living in urban areas have cities and towns that cater to the needs Nazam Md Kassim. TEP 6 FRIDAY SEPTEMBER 9, 2016 • THEEDGE FINANCIAL DAILY NEWS Housing Ministry to issue money-lending licences to property developers

HARIS HASSAN, KENNY YAP, PATRICK GOH AND SAM FONG / TheEdgeProperty.com BY SHAWN NG Cheah: PETALING JAYA (Sept 8): The With the Urban Wellbeing, Housing and introduction Lee: If the Local Government Ministry will of the government be issuing money lending licenc- money manages it FD es to eligible property developers lending right and Iskandar: to provide financing for home- licence developers We need to buyers. for all utilise this study the Its minister Tan Sri Noh Omar developers, correctly, scheme in his opening remarks at the 19th they will it will in detail ASLI-National Housing & Property have more benefi t both once the Summit 2016 in fl exibility to developers guidelines yesterday said there have been help buyers and buyers come out calls for the government to allow the re-introduction of the devel- oper interest bearing scheme for upon the completion of a prop- need to fork out resources to main- this service,” Lee noted. first-time homebuyers who find Noh: The licence is open to all developers erty. With the introduction of tain it (money lending business). Meanwhile, the Real Estate and it difficult even to pay for a down with developing a housing project the money lending licence for all “I must say there will not be Housing Developers’ Associa- payment on their purchases developers, they will have more many developers who can afford tion Malaysia (Rehda) president “Recognising this issue, the flexibility to help buyers,” she told to do this so I don’t expect a huge Datuk Seri FD Iskandar Mohamed ministry will issue money lending The ministry has already is- TheEdgeProperty.com. impact on the current property Mansor takes this new policy as a licences to eligible developers. sued the licence to several de- Mah Sing Group Bhd manag- market,” Low added. noble scheme to assist homebuy- The licence is restricted to pro- velopers and other developers ing director Tan Sri Leong Hoy Meanwhile, SkyWorld Devel- ers especially first-time homebuy- vide housing financing to eligible can start applying today. “The Kum said: “We have been actively opment Sdn Bhd chief operating ers. However, he said: “We need house buyers who face difficulties licence is open to all developers, launching for the past few months officer Lee Chee Seng was more to study the scheme in detail once in getting loans from financial but developers who apply for the and have been receiving good optimistic. the guidelines come out. institutions.” licence have to prove that they take-up. There is keen interest “Of course we (developers) all “Most developers do not have Noh said the licence is regu- are really developing a housing from buyers and the main thing understand that before we can a strong balance sheet to do full lated under the Moneylenders project.” delaying their purchase decision do that (lend money), we need financing. We actually asked Act 1951 and Pawnbrokers Act Such financing by the devel- is their inability to procure loans. to comply with the lending rules for some leeway for first-time 1972, and does not involve Bank opers is open to all homebuyers, “Hence, our focus should be to and things cannot happen in a homebuyers buying houses be- Negara Malaysia. not only first-time homebuyers, assist buyers with easy ownership day. However, if the government low RM500,000, so the element Developers with the licence Noh added. “However, the devel- schemes,” said Leong. manages it right and developers of speculation will not arise,” said are allowed to provide 100% or opers will have their own criteria Although the move stems from utilise this correctly, it will ben- FD Iskandar. just a portion of the loan to value for lending to the buyers.” good intentions to help more peo- efit both developers and buyers,” However, Rehda deputy pres- ratio, he added. “For example, if a In immediate response, prop- ple purchase properties especial- Lee said. ident Datuk Soam Heng Choon buyer who only can fork out 10% erty developers view this as a pos- ly first-time homebuyers, Land Anyhow, he prefers the de- said there are already some devel- downpayment and get 70% loan itive move that will benefit poten- & General Bhd (L&G) managing veloper interest bearing scheme opers with strong balance sheets from a bank, the buyer can apply tial homebuyers. director Low Gay Teck said it may (DIBS), which will give buyers and flush with cash that are giving for a loan from the developer to Sunway Bhd managing direc- be too costly to implement this more freedom to choose their assistance on a case-by-case basis. finance the remaining 20%.” tor of the property development for some developers. desired properties. “Licences for money lending is This move is to provide anoth- division for Malaysia and Singa- “For L&G, what we focus on is “Not all developers would want under the Urban Wellbeing, Hous- er avenue of financing for home- pore Sarena Cheah said the group building houses. We do not have to do that (lend money). In that ing and Local Government Minis- buyers while providing another has had a leasing arm for more experience and resources to carry case, buyers would have limited try, so if developers can give out source of income for developers, than 30 years. out fi nancing or a money lending choices although it will definitely loans and serve their purpose as Noh explained. “However, we can only finance business. Do not forget we would benefit the developers who offer well, why not?” Soam said.

Country Heights Chipi cash-back reward scheme is back again

BY TAN AI LENG returns of half the purchase price their chidren upon maturity of Chipi scheme will be guaranteed by upon maturity of 35 years. the scheme. We also hope that Malaysia Assurance Alliance Bhd SERI KEMBANGAN: Country “The land with sizes ranging their children who have bene- (MAA Assurance) under a pure Heights Holdings Bhd (CHHB) from 8,290 sq ft to 18,942 sq ft are fitted from this programme will endowment policy plan. plans to re-launch its Chipi or selling from RM3.5 million, or an continue to be our future buyers Lee said about 170 people par- Country Heights Innovation average of RM350 psf,” he added. too,” he said. ticipated in the Chipi scheme in Property Investment (Chi- The bungalow land plots are Chipi was Lee’s brainchild back back in 2002 and some of the pi) scheme, which offers cash- located at The Mines Resort and in 2002 when CHHB first intro- buyers had chosen to surrender back rewards to selected buyers, Golf Club community and are duced it for buyers of its Country the scheme before the maturity sometime before the end of the within walking distance to the Heights Damansara development. period and redeem part of their year. golf course. They are also near It spurred buyers’ interest and cre- investment back. “We are still fi nalising the details The Mines Shopping Mall, Mines ated a buzz during the period of “Th e purchasers can choose to of the scheme, which we plan to Wellness Hotel and Palace of the slowdown. surrender the scheme before it ma- launch soon as an initiative to spur Golden Horses Hotel. Th rough Chipi, CHHB sold some tures, but they would only receive market interest in land investments Th e loyalty programme is de- RM170 million worth of bunga- part of the reward according to the and to reward our customers,” com- signed to benefi t the purchaser’s low land in Country Heights Da- scheme schedule and not the full pany chairman Tan Sri Lee Kim Yew second generation, Lee said, adding mansara. At that time, under Chi- payment,” he explained. told Th eEdgeProperty.com. that buyers must provide the names pi, buyers who fulfi lled the terms “Conservatively, the land price Lee said the new Chipi scheme of their children to be eligible for and conditions — by paying the under the fi rst Chipi scheme has will be off ered to the fi rst 10 buy- this programme. maintenance and monthly instal- increased at least 50% or doubled ers of some 30 bungalow lots at “With this loyalty programme, ments on time — were eligible for over the years. Some buyers even Th e Mines in Seri Kembangan who buyers need not worry about their a cash-back reward of the purchase sold their land to enjoy the capital will be entitled to benefi t from the Lee: The loyalty programme is designed to children because part of the pur- price upon maturity (35 years). appreciation before the scheme scheme which off ers guaranteed benefi t the purchaser’s second generation chase price will be given back to Th e payback plan for the latest matured,” he added.

TEP 8 FRIDAY SEPTEMBER 9, 2016 • THEEDGE FINANCIAL DAILY COVER STORY

utiara Damansara of high-end condominiums, and eEdgeProperty.com, transactions very good road access leading to tiara Damansara but the 6.1-acre translates to The around 700 units of low-cost and of these houses are extremely rare. Lebuhraya Damansara-Puchong site located just adjacent to the Pearl of Daman- low-medium-cost apartments. For instance, there was only one (LDP) as well as to , medium-cost apartments is cur- sara and this town- “We wanted to develop the town- transaction in 1Q2014 which was , Tropicana, rently vacant. ship in the north of ship only after we had a main anchor transacted at RM772 psf which is a Taman Tun Dr Ismail, Mont’Kiara “We could either develop a pri- Petaling Jaya, Se- tenant. In this case, we had IKEA. 3.76% y-o-y increase from the aver- and Desa Sri Hartamas via several mary or international school in the Mlangor is certainly shining like a We sold the land to them at RM99 age price psf of RM744 psf record- highways, including the Penchala area. Alternatively, we might devel- gem for those who initially bought psf more than 10 years ago. Th e lat- ed in 1Q2013. However, it could be Link and the North Klang Valley op more residences,” off ers Ghazali. properties there. est price off ered to us for a piece of observed that prices have peaked Expressway. When it fi rst began developing Th ere are two components to commercial land is about RM1,250 in 2014 overall (see graph). He notes that the township be- Mutiara Damansara, the develop- Mutiara Damansara — 300 acres psf. Th e last transacted price was Despite the ongoing proper- came even more vibrant after the er knew it has to stand out from its of residences and 60 acres of its RM950 psf in May 2014. You can see ty market slowdown, homeown- opening of Th e Curve and IPC Shop- neighbours such as commercial component which is how much real estate values here ers seem to be hanging on to their ping Centre (formerly known as and Kota Damansara. further subdivided into 60% retail have appreciated over the course of properties and demanding pre- Ikano Power Centre) where IKEA is. “We weren’t trying to compete and 40% corporate offi ces. Its re- 10 to 15 years,” says Ghazali. Based mium prices. For instance, the Toh says landed homes in Mu- with them, because in terms of tail precinct comprises Th e Curve on the transacted land price shared average asking price of terraced tiara Damansara are on par with maturity and size, they were way shopping centre, Tesco Extra Mu- by Ghazali, that would be an appre- homes here based on listings on those in neighbouring Bandar Uta- ahead of us. Our priority at that tiara Damansara, eCurve and IPC ciation of over 860%. Th eEdgeProperty.com as of August ma in terms of appreciation rates time was to ensure that we deliv- Shopping Centre — home of the He also noted that the 2-storey 2016 was about RM867 psf, which and pricing. ered a well-planned, low-densi- fi rst IKEA standalone store in the terraced houses which were fi rst translates to a whopping RM1.91 According to Nawawi Tie Leung ty quality township, where the country. launched in 2000 at RM350,000 million per unit! managing director Eddy Wong, commercial and residential com- “Th e site belonged to Lembaga are currently being transacted for the area’s connectivity and ample ponents were clearly separated,” Tabung Angkatan Tentera (LTAT) over a million ringgit. The keys to its popularity amenities are the townships’ main he says. and was formerly an army camp,” According to LaurelCap Sdn Bhd According to Toh, it is not surpris- pull factors. “For our mall (Th e Curve), we recalls Mutiara Damansara’s de- managing director Stanley Toh, ing to see how high prices of prop- “Th e downside is the traffi c con- went niche as a family and chil- veloper Boustead Holdings Bhd’s the asking prices for these 20ft by erties in the township have risen gestion during peak hours on week- dren-oriented mall. We have Lego property divisional director Datuk 70ft terraced homes range from over the years. days and peak shopping hours on as a tenant and they are doing ex- Sri Ghazali Mohd Ali. RM1.3 million to RM1.4 million “Th e township is located in a weekends. Th ere is also a need for tremely well. On top of that, we Freehold residences in Muti- on average. “Th e property prices very prime and strategic location. a primary school to be built to cater have a family entertainment centre, consist of about have appreciated about 300% or To begin with, it is located adja- to the needs of the residents near- Kidzania — the only one in Malay- 600 units of double-storey terraced an average of 18% per annum since cent to Bandar Utama, which is al- by,” Wong says. sia,” he says. houses, 350 units of bungalows and their launch,” he says. ready a very sought-after location,” There were initial plans for a semi-detached houses, 700 units Based on data collated by Th - says Toh. In addition, the area has primary school to be built in Mu- MRT catalyst Mutiara Damansara is set to see the opening of a Mass Rapid Tran- sit (MRT) station, a station along the Sungai Buloh- MRT line. The station will be located right in front of Surian Tower. Wong notes that such improve- ments in connectivity and infra- structure will boost property prices in the area even further. “Properties near or next to MRT stations will command a premium due to the appeal of added conven- ience and improved accessibility,” Toh: The township Wong: The area’s Ghazali: Our priority at he says. is located in a very connectivity and ample that time was to ensure Laurelcap’s Toh concurs. “Prop- prime and strategic amenities are the that we delivered a erty prices in general will defi nitely location township’s main pull well-planned low density increase. Boustead Group’s sub- factors quality township sidiary, Mutiara Rini, would be the prime beneficiary as The Curve MUTIARA DAMANSARABY NATALIE KHOO — becoming increasingly attractive FRIDAY SEPTEMBER 9, 2016 • THEEDGE FINANCIAL DAILY TEP 9 COVER STORY

SOURCE: TheEdgeProperty.com | GRAPHICS: NURUL AIDA MOHD NOOR has direct access to the Mutiara There is a metal band Damansara MRT station. Surian in France with the name Tower’s asking rentals are between RM5 psf and RM6 psf per month. Mutiara In comparison, other offi ce build- about Damansara ings such as Menara Mudajaya and facts Menara TSR located a bit further away from the station are asking between RM4 psf and RM5 psf,” Mutiara The fi rst off ers Toh. The only standalone IKEA “In addition, the MRT station Damansara Kidzania in in Malaysia is here would be a factor for tenant re- Malaysia tention especially for shopping centres like Th e Curve and eCurve in light of future competition from the upcoming Empire City Mall in One of the best Tesco neighbouring Damansara Perda- Nasi Kukus Ayam Berempah na,” Toh adds. in town Jalan PJU 7/16 What’s coming up? Jalan PJU 7/1 Th e area is set to see the comple- jor anchors with contemporary tion of a new serviced apartment brands,” he says. Jalan PJU 7/3 project launched in 2012 — the “There has also been word The Curve Refl ection Residences @ Mutiara that there may be another transit The 360-acre Damansara, a 39-storey serviced link [aside from the Sungai Bu- township used to be an apartment with 299 units by Glo- loh-Kajang MRT line] that will army camp Jalan PJU 7/2 mac Bhd and Al Batha Real Estate pass Mutiara Damansara near e@Curve Company. the LDP so we may see another IKEA “Th e project had shown strong station serving the township,” sales. When it was fi rst launched, Ghazali reveals. a Damansara Puchong it was priced at RM750 psf. Today, Outlook IPC it could go for about RM900 psf,” buhraya says Toh. “For potential homebuyers, it LeL According to Ghazali, Boustead would be a good time to hunt for Houses MNC offi ces such as has remaining projects worth a good buys in the area. Th ere may Persiaran Surian gross development value (GDV) be some owners who are willing Nestle, BHPetrol and of about half a billion ringgit in to reduce their asking prices in Procter & Gamble Mutiara Damansara. “The resi- light of the current market slow- dential component is almost fully down. However, investors would developed with about 10 acres of most likely have to wait five to SOURCE: TheEdgeProperty.com land left. Th is will constitute some seven years to see a decent in- tential homebuyers to look for bungalow lots and some land for crease in value,” Toh off ers. good deals. Average transacted price of terraced sale which we are looking to start According to Toh, due to the “Prices peaked in 2014 in line selling next year. We also have a current poor market sentiment, with the overall property market homes in Mutiara Damansara (RM psf) few corporate lots left to be devel- the short-term outlook for the area performance. Th e long-term out- oped at the commercial portion,” would see prices maintaining at look is positive due to its location Price movement psf of terraced houses in Mutiara Damansara he off ers. current levels. and amenities in the area as well

Meanwhile, on the retail side, “I do not think there will be fi re as its connectivity. 900 739 744 731 772 766 728 727 724 751 Ghazali reveals that its major an- sales. Property owners here will ei- “Th ere is further potential for 800 694 697 629 658 chors at Th e Curve shopping mall ther hold their properties or their growth as there is scarcity of land 700 579 585 will be revamping their store con- prices,” Toh says. in the area for further develop- 600 cepts. “We are looking at replacing Meanwhile, Wong believes ments, especially landed homes.” 500 400 expiring tenancies of some ma- that now is the chance for po- Wong adds. 300 Price RM psf Price 200 MOHD IZWAN MOHD NAZAM/ TheEdgeProperty.com 100 00 0

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2012 2012 2012 2012 2013 2013 2013 2013 2014 2014 2014 2014 2015 2015 2015 2015 2016 An aerial view of Period Mutiara Damansara SOURCE: TheEdgeProperty.com Transaction volume of terraced homes in Mutiara Damansara

Transaction volume of terraced houses in Mutiara Damansara

66 6

5 5 5 A favourite of Klang Valley urbanites, Mutiara Damansara’s IKEA 44 3 333 Transactions

111

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2012 2012 2012 2012 2013 2013 2013 2013 2014 2014 2014 2014 2015 2015 2015 2015 2016 Period There were no transactions in 3Q2015 and 1Q2016 SOURCE: TheEdgeProperty.com Asking prices as of August 2016

property type average asking average asking price (rm mil) price (rm/psf) Detached house 4.95 1,024 Semi-detached house 4.10 958 Terraced house 1.91 867 Terraced homes at Mutiara Damansara TEP 10 FRIDAY SEPTEMBER 9, 2016 • THEEDGE FINANCIAL DAILY NEWS Innovating now for future consumers

arnessing future In creating trends, he believes trends early on is vi- China is the country to watch, as tal for any business the mainland Chinese’ consump- to get the first-mover tion patterns create trends simply advantage and to stay by its sheer market size. “Th ey are #TRENDING: DEVELOPING TOMORROW ahead of the game. buying assets and businesses all HTo predict future trends, one over the world. Th e Chinese turn has to be on top of current trends something into a trend just by latch- DATE in the industry, says Tiah Joo Kim, ing on to it,” he says. 29 SEPT 2016 CEO of TA Global Bhd (Malaysia). When it comes to property de- TIME “If you’re always in the market and velopment, Tiah says technology is 0800-1700 on top of things, you will be the fi rst changing the way property devel- VENUE or early adopter of things that will opers market and sell real estate. WISMA REHDA eventually become trends. Trends He foresees the rapid growth of do not happen overnight, they are social media and digital marketing only considered trends when they are in project marketing as the younger popularised or embraced by key in- generation of property buyers are Tiah: Technology is changing the way Varangkana: Future trends include ORGANISED BY fl uencers and fi eld experts,” says the tech savvy. property developers market and sell technology and lifestyle changes property developer who spearheaded Meanwhile, Varangkana Art- real estate the development of Trump Interna- karasatapon, vice-president of tional Hotel and Tower in Vancouver, business development and new market is not ready. In Th ailand, it “How do we sustain the business YOUTH Canada. He will be speaking at the business (high-rise) at Sansiri Pub- is very insulting to ask your parents if future demand for property de- IN PARTNERSHIP WITH Future Forward Forum organised lic Company Ltd (Th ailand) says to stay in a retirement home — the clines? To survive in the business by Rehda Youth and Nippon Paint future trends can be derived from Japanese probably don’t mind as in future means having to keep our- Malaysia on Sept 29. current information at hand, but much. Th e right timing is key to selves updated and seizing every Besides understanding the be- the challenge lies in knowing how success,” says Varangkana. opportunity,” she says. OFFICIAL MEDIA havioural tendencies and culture to adapt the information to cater Future trends include technol- The Future Forward Forum of the target market, being in touch to customers. ogy and lifestyle changes, such as on Sept 29 is organised by Reh- with the political and economic cli- Factors such as market readiness the adoption of electric vehicles da Youth and Nippon Paint Ma- mate of those countries is needed and local culture must be taken and younger entrepreneurs opting laysia. TheEdgeProperty.com is to predict future trends. into consideration in the pursuit for co-working spaces over luxury the media partner. The forum For instance, “Th e fl ow of money of future trends, says Varangkana, offi ce buildings, Varangkana says. will feature keynote sessions and Associates president Paul Tange, and immigration will dictate sales. who will also be speaking at the Rapid population changes such panel discussions exploring future CPG Consultants Singapore senior Th e rise of terrorism and gun vio- Future Forward Forum. as shrinking family sizes, slowing trends that could sustain, propel vice-president of architecture of lence around the world will lead “For example, we have been talk- birth rates and more people choos- or disrupt the property develop- the healthcare division Jerry Ong, to more unrest and this will lead to ing about the aging society as a ing singlehood over marriage will ment industry. Arkitek LLA Sdn Bhd director Lau- more outfl ow of money to diff erent trend for the past fi ve to 10 years but aff ect future property demand, Va- Other speakers who will be rence Loh and Art Printing Works regions,” Tiah explains. nothing has happened because the rangkana says. featured at the forum are Tange Sdn Bhd CEO Ee Soon Wei.

FENG SHUI

Are you well-positioned for greatness? over direction. Th is is because it is indeed possible to face any given direction while in a specifi c location. It would be best to be in a good location with positive Qi, and then proceed to ensure hether you’re running a Th ese core basics can stretch quite ex- that you face one of your favourable Facing marathon or taking on a BY DATUK JOEY YAP tensively into other systems such as Eight Directions — based on your Gua number. If big business deal, some Mansions and San He, but we will be using you happen to fi nd yourself stuck in a situ- form of preparation is re- the Flying Stars system. It is no less eff ective ation where you don’t know what to prior- quired to achieve the best compared to the others and is in fact more itise, simply remember the rule of thumb results. Some goals re- sibility then that you have overlooked the suited to modern living spaces. It is appli- — being in a good location is always better Wquire immense physical preparation while energy around you. cable to a wide range of properties such as than having a good direction. others take incredible mental strength to Paying attention to this omnipresent home offi ces and apartments. Should you have all of these in check be attainable. However, no matter how energy helps orchestrate a better approach In Classical Feng Shui terminology, lo- along with the necessary preparations, there different your goals are, you will need to towards achieving greatness. In metaphys- cation is denoted as “sector” or “palace”, should not be any other hindrances in your be fuelled by a strong sense of desire and ical studies, energy is known as Qi, and while “facing” is used to denote direction. journey towards achieving greatness. Feng belief. ensuring your abode or property receives A Flying Stars chart (3x3 grid) is superim- Shui is all about getting the mind to be at- But what if you’ve done everything right this energy well assures you a healthy po- posed against the map of your home, and tuned with the energy around you to get from the beginning but things still slip right sition in achieving nothing but the best. from there we can see, for instance, that the what you desire. through your fi ngers? Th ere is a strong pos- Let’s take a closer look at how they all Main Door could be located in the south- come together. east sector but faces south. Similarly, this is applicable to any other room and feature If you have any feng shui-related questions Property location and direction in the living space. For example, the study for Yap, please go to the Tips section of In Classical Feng Shui, direction and loca- room may be located in the north sector, but TheEdgeProperty.com tion are primary references. Th erefore, it is its door could be facing east, and the desk important to understand these crucial as- in the southwest subsector could be facing pects. Direction refers to the line in which west. Th ese things may appear insignifi cant, Datuk Joey Yap is the world’s leading Chi- you are facing, while location refers to the but are far from negligible. nese Metaphysics consultant and bestselling position you are in at that point in time. author of more than 160 books which have An easier way of understanding this is to Welcome and harvest the Qi sold over four million copies worldwide. He picture yourself standing in the middle of a Once you have determined the type of en- is chief consultant of the Joey Yap Consulting large square. Being smack in the centre, you ergy that resides in the diff erent parts of Group and founder of Mastery Academy Of would be able to turn, facing in front, 360° on the property, one can then tap into the Chinese Metaphysics. His nearly two decades a compass. If you reposition yourself at any energy. of professional consultancy includes working one of the corners of this square, you would Direction is then used to add a higher with Microsoft, Sime Darby, UEM, Prudential be able to do the same. But this means that level of personalisation to this process. In and Citibank. He has students in more than your location has moved. Classical Feng Shui, location takes priority 30 countries.

TEP 12 FRIDAY SEPTEMBER 9, 2016 • THEEDGE FINANCIAL DAILY FEATURE ‘Awesome’ off ers by property developers

HARIS HASSAN, KENNY YAP AND PATRICK GOH / TheEdgeProperty.com BY LUM KA KAY Tang: Incentives ome say humans are the most Chang: and adaptive species on earth and Khor: EcoWorld’s marketing Sarkunan: during economic downturns, this The 10:90 customer- schemes Measures trait helps us figure out ways for scheme is a engaging which help and policies our businesses to manoeuvre the way to show events to resolve are needed challenging market environment. that such successfully buyers’ loan to stimulate SAccording to property consultancy fi rm schemes drew huge issues will activities and Knight Frank Malaysia’s Real Estate Insights can co-exist crowds of defi nitely rejuvenate research report, the challenging property with sell- visitors to help to Malaysia’s market has led developers to adopt “push and-build its various attract property marketing” in order to boost sales of their schemes project sites buyers sector projects. Among the notable ongoing marketing duced the Home Triple Insurance Scheme with this unique insurance scheme under- can complete the project and not abandon it campaigns is Sunway Group Bhd’s “Sunway (HomeTIPS), enabling Allianz Malaysia Bhd written by Allianz,” he said. halfway because of slow sales,” cautioned Tang. Property Certainty Campaign” that off ers up to underwrite three insurance schemes for So do such “push marketing” schemes to 88% fi nancing. Others include IOI Proper- IJM Land homebuyers for 36 months from Buyers beware really help developers boost sales? ties Group Bhd’s deferred payment scheme the date of signing of the sales and purchase But how do buyers decide when faced with Tang said some developers who have of- of 18 to 24 months for the usual lump sum (S&P) agreement, at no additional cost. such “attractive” schemes? fered such schemes have reported rather en- down payment, and S P Setia Bhd’s 10:90 HomeTIPS is applicable to homebuyers Speaking from a consumer’s perspective, couraging sales or take-up of their projects. scheme where buyers need only pay a de- of selected IJM Land residential projects with chief operating officer of Henry Butcher “Th e residential property market is current- posit of 10%, with the remainder payable selling prices ranging from RM300,000 to RM2 Real Estate Sdn Bhd Tang Chee Meng told ly sluggish as speculators have been deterred after the property is completed. million, purchased directly from IJM Land Th eEdgeProperty.com that buyers should by the various cooling measures implement- S P Setia president and CEO Datuk Khor from Aug 19 until December 2016. be aware of what’s presented to them. ed by the government. Genuine buyers and Chap Jen said the 10:90 scheme, which is IJM Land managing director Edward Chong “It is important for buyers to really like the investors are also fi nding some diffi culty in applicable to selected Setia properties, is told the media at the unveiling of HomeTIPS location and the property that he or she is securing the loan quantum that they want. a way to show that such programmes can recently that this is the fi rst scheme of its kind to buying and not just be lured by the schemes “Developers have to come up with co-exist with sell-and-build schemes. be off ered by a Malaysian property developer. off ered by the developers. schemes to attract buyers to make an im- “S P Setia has always advocated these “We believe in building not just homes, “Th e buyer should also check around to mediate commitment instead of waiting kinds of schemes which allow the market to but relationships. We want our homebuy- make sure that he or she is not being made until they can qualify for a loan to buy. decide the kind of scheme that they want to ers to be confi dent with the fact that should to pay extra for what he or she is buying. “Incentives and marketing schemes off ered go for when it comes to property purchas- something untoward happen, IJM Land is “Lastly, he or she should buy from a rep- by developers which help to resolve buyers’ es,” he said at a press conference during the able to help secure the roof over their heads utable and fi nancially sound developer who loan issues as well as their inadequate savings launch of the Citizen Setia customer rewards to come up with the loan diff erential sum will and appreciation programme on Sept 5. SOURCE: KNIGHT FRANK / TheEdgeProperty.com defi nitely help to attract buyers,” he remarked. According to Khor, the 10:90 scheme has Innovative marketing schemes by property developers Knight Frank managing director been very well-received especially among Sarkunan Subramaniam concurred, citing buyers of higher-priced properties. DEVELOPER CAMPAIGN / PACKAGES / DETAILS past campaigns where UEM Sunrise Bhd’s “Maybe because many of these purchas- PROGRAMME Signature Selection campaign achieved ers are upgraders, so they need more time to RM215 million in sales while its recently facilitate the whole house-selling process (for 10: 90 Scheme BTS Scheme concluded Signature Selection-Rendez- their current homes),” he concluded. • 10% down payment upon signing SPA vous in France 2016 campaign generated Eco World Development Group Bhd S P Setia Build-then-Sell • Balance 90% after completion of property RM228 million in sales. (EcoWorld) also took the opportunity to Bhd (BTS) Scheme (supported by CCC) He also noted that Selangor Dredging “excite” its buyers with special rebates start- Bhd’s (SDB) Reside-and-Purchase scheme ing from July 15 to Sept 16. Repeat buyers The Triple A Gold reportedly received overwhelming response. enjoy a total of 4% rebate when they purchase • Campaign period from Sept 5 – Dec 31, 2016 However, Henry Butcher’s Tang noted that all their second EcoWorld property. Also, when • Purchasers of selected S P Setia properties can enjoy up to 5% rebates these marketing schemes are not without cost. a referrer makes a successful introduction, • Buyers of properties priced RM500,000 and above will get a one ounce “Th ere is obviously a cost to the marketing the person will get a total of 3% off the prop- Triple A Gold 99.99% gold coin programmes implemented by the develop- erty’s selling price. Meanwhile, new buyers promotion ers and they eat into the profi t margins of will receive a 2% rebate on top of other on- Introducer Reward Points (IRP) payout and rewards scheme the developers unless they can increase their going promotions. • Successful introducer receives up to 2% cash reward and a 99.99% selling prices to cover these additional costs. Its president and CEO Datuk Chang Khim gold coin “But to them, cash fl ow is important hence Wah said much of EcoWorld’s RM1.315 billion • Applicable to selected properties they have no choice but to accept a lower sales achieved this year as at May 31, 2016 have profi t margin at this point in time when mar- been contributed by numerous group-wide IOI Deferred Payment ket conditions are weak,” he added. and localised marketing campaigns, includ- Properties Buy Now, • Up to 24 months to pay the balance of deposit and diff erential sum / Tang predicts that property developers ing special packages such as the EcoWorld Group Bhd Pay Later upon vacant possession (whichever is earlier) will continue to off er such schemes with Prestige rebate packages for both existing improvisations and variations along the way and new purchasers, and customer-engag- Guaranteed Loan to make fresh appeals to buyers. ing events such as the Seasons Flower Show, Sunway Sunway • 12:88 plan “Nevertheless, this is not something that Colours of Spring Festival, Yokoso Japan @ Property Property • Buyer pays 12%, Sunway provides loan of up to 88% at vacant posses- can be sustained indefi nitely and will likely BBCC and Hallyu Korea @ Eco Sky that were Bhd Certainty sion (from internally generated funds) stop or happen on a small scale when mar- held from January to May 2016. Campaign • Campaign period: 29 March – 30 September 2016 ket recovery takes place,” he said. “Th ese [customer-engaging] events suc- • Applicable to participating residential & commercial projects Meanwhile, Sarkunan said these market- cessfully drew huge crowds of visitors to the ing schemes are sustainable, but only to a various project sites, thereby signifi cantly Risk Coverage certain extent. increasing EcoWorld’s customer database,” IJM Land Bhd Home Triple • 36 months from the date of signing S&P agreement “Besides the strict lending guidelines, the he told Th eEdgeProperty.com. Insurance • Unemployment Benefi t widening gap between supply and demand “Th e marketing momentum continued in Protection • Personal Accident (due to accidental causes) as well as the mismatch in product pricing June 2016 with group-wide celebrations of Schemes • Term Life and aff ordability are also weighing down the World Environment Day and the inno- (HomeTIPS) • Campaign period: Aug 19 – December 2016 on the property sector — a more important vative EWRO Fest, launched in conjunction • Applicable to selected projects issue to be addressed. with the European Football Championships, “Measures and policies are needed to stim- which saw each of our projects promote a Rebates ulate activities and rejuvenate Malaysia’s prop- diff erent European country. Eco World Special rebates • Campaign period: July 15 – Sept 16, 2016 erty sector which has slowed considerably. “Th ese are some of the eff orts in creating a Development for property • 4% rebate for repeat property purchasers It was recently reported that in 1Q2016, distinctive edge for ourselves in these trying Bhd purchasers and • 3% off the property’s selling price for referrers, upon successful both volume and value of transactions re- times and we are thankful to be able to grow (EcoWorld) referrers introduction corded double-digit contraction against our brand name at the same time,” he added. • 2% rebate for new buyers on top of other ongoing promotions 1Q2015 and 4Q2015 while residential over- Meanwhile, IJM Land Bhd has intro- hang has increased. FRIDAY SEPTEMBER 9, 2016 • THEEDGE FINANCIAL DAILY TEP 13 FUTURE & BEYOND

NIPPON PAINT GROUP Innovation beyond walls, catering to future needs

incent Van Gogh once said “Ultimately Nippon Paint is a fu- “I dream of painting and ture-forward organisation that em- then I paint my dream”. In phasises innovation to not only antic- a way, that sums up the ipate but also stimulate trends whilst story of the Nippon Paint. meeting the modern consumers’ Like so many successful needs for individuality and custo- Vbusinesses, it was a willingness to misation. Back in 2008, for instance, dream big that brought Nippon Paint, Nippon Paint stimulated a trend by Asia’s premier coatings manufacturer launching Nippon Paint Odour~less to where it is today. Premium All in 1, the industry’s first From its humble beginnings dating odourless paint which is now an in- back to 1881 in Osaka, Japan, Nippon dustry standard,” continues Goh. Paint has progressively evolved over Nippon Paint’s commitment to time and today has a presence in 16 pushing the envelope in terms of in- countries across Asia. One of them novation is evident through various in- being Nippon Paint (Malaysia) Sdn. itiatives. For example, to neutralise the Bhd which was established in 1967, rise in Hand, Foot, and Mouth Disease and, has since emerged as a regional in Malaysia, Nippon Paint introduced powerhouse in the coatings industry, VirusGuard, Malaysia’s fi rst anti-viral being principal owner of operations paint that utilises the silver-ion system in countries such as Pakistan, Bang- to inhibit the growth of viruses and ladesh, Thailand, Indonesia and the bacteria on surfaces. Meanwhile, to Philippines. cater to the green generation whilst However, the emergence of glo- championing environmental stew- balised commerce, rapid technologies ardship, the Group launched its Green and readily available information, has Choice Series and the Nippon Weath- driven companies to be continuously erbond Solarefl ect, a coating that can innovative in order to remain com- reduce building surface temperature petitive and to sustain growth. As a by 5 Celsius. consequence, Nippon Paint has rein- “We take pride in partnering with vented itself by embarking on a brand the largest network of dealers and and corporate repositioning exercise distributors in Malaysia, numbering through investments in product and more than 1,500. It’s our firm belief marketing strategies which have pro- that a partnership works best when pelled Nippon Paint from its standing the needs of both parties are met as ‘The Paint Expert’ to a more holistic while retaining a single cohesive vi- status as ‘The Coatings Expert’. sion. With that in mind, Nippon Paint Currently, Nippon Paint is Malay- engages its dealers beyond the call of sia’s No 1 Total Coatings Solution pro- duty via training and educational pro- vider and has maintained its market grammes, as well as other engagement Goh with Nippon receiving the organisation’s highest impacted more than thousands of leadership position since 2008. With platforms such as golf tournaments. Paint Malaysia recognition in 2016 — the Platinum architecture and interior design stu- the repositioning, Nippon Paint has We have also equipped our dealers managing director Award for the Paint Category. dents hailing from 12 countries in signalled to its stakeholders that they with the Colour Creations machine. Yaw Seng Heng Other tributes conferred include Asia. Meanwhile, through their flag- have the capabilities to work with cus- This machine is able to tint any prod- the Paint Company of the Year Award ship CSR programme entitled Colour- tomers from multi-segments such as uct to match thousands of colours in by Frost & Sullivan in 2011 and in ful Dreams, Nippon Paint Malaysia Architectural, Industrial, Automotive, the Nippon Paint colour chart, thus 2016, and, the Putra Brand Awards focuses on physically transforming Protective and Marine, and can coat enabling dealers to achieve higher from 2010 to 2014. Nippon Paint Ma- underprivileged communities to multi-surfaces from floor to roof and levels of inventory efficiency as they laysia was also awarded the New Prod- shape a safer and more conducive everything in between. no longer need to stock up on cans uct Innovation Leadership Award environment, as well as, inculcating “Traditionally, consumers relate of paint. Furthermore, another pio- 2016 for its innovation in Nippon and encouraging greater confidence paint only to walls. To dispel this mis- neering solution offered by Nippon VirusGuard, and most recently, yet and self-expression in disadvantaged conception, we undertook an exten- Paint to its business partners is the 3D again won the silver award under the children through arts and craft. sive initiative to educate the market Rotate colour scheme presentation Home Improvement category in the In so doing, Nippon Paint Malaysia that there is so much more to paint tool which provides an immersive Putra Brand Awards 2016. continues to grow as a Group that is than just colours on walls, and that experience for the viewing of colour However, Nippon Paint has also focussed on commercial and industri- paint can coat any surface!” states schemes as part of the design pro- sought to revolutionise the coatings al excellence whilst displaying a heart Gladys Goh, Group General Manager cess for large property development solution industry through thought and soul that is respectful of Nippon of Nippon Paint Malaysia. “Our vision projects,” Goh adds. leadership and corporate social re- Paint’s own humble beginnings. is to elevate coatings beyond just col- Given the advancement that Nip- sponsibility (CSR) initiatives. Says ours. We wish to reinvent the coatings pon Paint has made in the coatings Goh, “In 2008, we initiated the Asia category and raise awareness of the solution industry, it comes as no sur- Young Designer Award (AYDA) to IN COLLABORATION WITH functional aspects of our products, prise that over the years, Nippon Paint groom, inspire and validate the next such as their ability to contribute Malaysia has earned a stellar collec- generation of design talents by en- not just to the aesthetics of coated tion of accolades. It is the only paint couraging their skills and providing surfaces but also to the comfort that company in Malaysia that has received them with the international exposure they can provide, such as better in- the Reader’s Digest Trusted Brands that they need.” door air quality with Nippon Paint’s Award Malaysia for 11 consecutive AYDA is currently Asia’s premier range of Green Choice interior paint.” years, with the added distinction of design competition and to date, has TEP 14 FRIDAY SEPTEMBER 9, 2016 • THEEDGE FINANCIAL DAILY FEATURE

BY TAN AI LENG ome sharing, such as through Home sharing requires regulation, Airbnb and HomeAway, is gaining popularity as an av- enue of income for property owners, especially those look- says Budget Hotel Association ing to gain some returns on Htheir investments but do not want to lease their property for the long term. Although the home-sharing concept could SAM FONG / TheEdgeProperty.com be a means for property owners to make to 15% by 2020 in the mature markets with some money from their properties, many high international tourist arrivals. Hence, issues concerning the safety and legal as- the impact on hotel room rates is begin- pects have arisen as home sharing becomes ning to be felt. a norm worldwide. In the report “Th e Fourth Industrial Rev- Some cities such as Berlin, New York and olution: Th e Impact on Real Estate in South- Tokyo are prohibiting owners from renting east Asia” published in June 2016, JLL dis- out their units or rooms as short-term ac- Leong cussed how technological advances are commodation. wants the creating new opportunities for property own- Apart from safety and legal issues, the authorities ers to share their space for short-stay rental. home-sharing concept is said to be com- Lau: Trust to look into Cities with the largest tourist arrivals in peting with budget hoteliers, putting them is the key to safety issues Southeast Asia, such as Singapore, Bangkok in an unfair situation in terms of pricing the growth and regulate and Kuala Lumpur, have received about 45 because unlike the home-sharing business of the home- home- million international arrivals annually. owner, hotels have to comply with certain sharing sharing However, home sharing only makes up guidelines imposed by the authorities. concept businesses about 2% of the occupied room nights. Nev- Malaysia Budget Hotel Association (MyB- ertheless, JLL expects the percentage to grow HA) president PK Leong says home-sharing emphasises that safety and quality ser- on the way they should operate their busi- to 5% by 2020. platforms like Airbnb and HomeAway are vice are usually the main concerns with ness. Guests too would be better protected,” Th e impact on hotel room rates may be directly competing with local budget hotel home-sharing platform customers, espe- she adds. felt only after 2020 in Singapore, Bangkok operators as most accommodation off ered cially foreign tourists who are not familiar She notes that home sharing has become and Kuala Lumpur, as currently Airbnb list- under home sharing have similar rates as with Malaysia. a popular option for tourists looking for ac- ings make up only 5% of the total room in- the budget hotels. “Transactions over home-sharing plat- commodation as it off ers a diff erent expe- ventory, and potentially just 2% of occupied “There is no specific law that states forms are mostly done through online pay- rience for tourists who want to know more room nights. home-sharing platforms are prohibited but ments. When the customers arrive, they can about the local culture. The report’s vacation accommoda- there are laws that say that commercial ac- pick up the key to the accommodation from “Other than the cheaper room rates, an- tion listings data showed that Malaysia’s tivities are banned from being carried out a certain pre-determined place. Th ere is other reason is that home sharing gives the home-sharing growth still lags far behind in residential properties,” he tells Th eEdge- usually no such thing as reception or house- guests an opportunity to make friends from countries such as Hong Kong, Singapore Property.com. keeping services,” he explains. diff erent countries. It is the same concept and Thailand, as annual Airbnb listings He notes that home-sharing platforms However, he does not oppose the with guesthouses where backpackers get are less than 20,000. could off er better rates as they are not reg- home-sharing business but wants the au- to interact with those from diff erent parts “However, we expect the number of list- ulated. For instance, they do not have to pay thorities to look into safety issues and reg- of the world by sharing common facilities,” ings to grow to 15% of total inventory by for any licence or other compliance costs ulate these businesses. she explains. 2020,” said JLL in the report. — such as safety facilities and inspection, “If property owners are off ering short- Besides, she says, with home sharing, Lau said the issue of trust is the key to utilities for common areas and the reception stay accommodation to customers, they travellers will no longer be restricted to trav- the growth of the home-sharing concept. area, and company tax as well as the Goods should be regulated and comply with safe- el only to places where hotels are available. “It is true that Airbnb’s growth in Malaysia and Services Tax (GST). Th is allows them to ty requirements just as budget hoteliers Instead, they are now able to choose to stay still lags far behind other main tourist spots give very competitive rates. have to. It’s not just to ensure a fair playing in off -the-beaten-track locations. and we think one of the reasons for this is “It’s unfair to compare our [budget ho- ground for all, but also to ensure customers’ because Malaysia has a very small number of tel] pricing with those being offered on safety,” he adds. Slow growth in Malaysia owners renting out their units for homestay home-sharing platforms as we have a dif- JLL Malaysia managing director YY Lau A recent report by JLL states that home-shar- compared to other countries. ferent cost structure,” he says. says instead of banning home-sharing plat- ing platforms such as Airbnb and Homea- “However, when people start to gain more According to Leong, Malaysia currently forms such as Airbnb, it will be benefi cial for way now account for about 10% of occupied trust with Airbnb, demand will increase. We has about 6,000 budget hoteliers and, among everyone if the industry can be controlled room nights in global gateway cities. believe there will be more operators entering them, 2,000 are MyBHA members. through regulations or by licensing them. According to the property consultation the market to try to make a profi t from this Despite the attractive pricing, Leong “Th is will give the operators better clarity fi rm, the trend of home sharing could grow emerging business,” she concludes.

SOURCE: AIRDNA, JLL SOURCE: AIRDNA.COM, JLL Malaysia’s Airbnb listings are low compared with hotel room In general, Airbnb room rates are far lower than hotel room 1. listings on online vacation accommodation platforms 2. rates, making it attractive to tourists on a budget Hotel rooms and Airbnb listings available in the top 10 international tourist cities Hotel rates compared with residential rents

Monthly revenue in US$ (adjusted for occupancy) 140,000 2 6,000 9 120,000 4 5,000

100,000 1 5 7 3 4,000

80,000

6 10 3,000 60,000 8

2,000 40,000

1,000 20,000

0 0 HHong LondonLoLondon SingaporeSingapor BangkokBaB ngkok Paris Macau DubaiD ShenzhenShenzheenzhe NewN Kuala Top 15%155%% MedianMedian Top 15% 155% MedianMedMediaiaan Kong York Lumpur Singapore Singapore Kuala Lumpur Kuala Lumpur

Global ranking by international tourist arrivals Hotel rooms Airbnb listings Hotel Airbnb Residential FRIDAY SEPTEMBER 9, 2016 • THEEDGE FINANCIAL DAILY TEP 15 FEATURE

PICTURES BY DOUGLAS ELLIMAN REAL ESTATE

The Little Red Ski Haus Aspen’s Little Red Ski Haus is up for US$11.8 million after a quick fl ip

n its 128-year history, the Little Red Ski Haus in 01. The dining downtown Aspen, Colorado, has been many things room seats 24 to many people: (allegedly) a brothel during As- pen’s days as mining town, a boarding house, a 02. The house can dormitory-style inn for budget ski travellers, and be used as a more recently, the site of a protracted legal dispute private home Iamong Chicago developers who wanted to turn it into or bed and a fractional-ownership scheme. breakfast Th at plan fi zzled, the bank repossessed, and then in 2014 it was purchased for US$5.1 million (RM20.7 mil- 03. The interior lion) by one Jaime Rubinson, a self described “jack of has been all trades.” (Th e trades, in this instance, include attor- renovated ney, real estate broker, real estate investor, and Miami nightclub developer.) 01 02 04. The house has Two years later, Rubinson has returned the house to 14 bedrooms the market, this time listing it for for US$11.8 million. Rubinson said she’s completely revamped the house. 05. It comes with a “We went through it top to bottom,” she said. “It looked hot tub like a Hampton Inn-level accommodation with some antiques sprinkled in, and what we did was transform 06. There are it into a chic mixture of coloured glass, chandeliers, three separate and chrome.” entertainment Rubinson confi gured it so that the house, which meas- areas ures a hefty 6,677 sq ft, can double as a bed and break- fast or as a private home for friends and family. It has 14 bedrooms, 10 of which have en suite bathrooms, (there are 13-and-a-half baths in the house in total), a dining room with a table that seats 24, and a 25-foot-long bar. Th e house comes with a full gym, hot tub, three areas for 03 04 entertaining, and a mudroom with what Rubinson said is enough space for 24 people to store skis and boots. Th e house is located in the centre of town. “You walk a block and you have your favourite kale salad, you walk another block and you’re at the mountain,” Rubinson said. “It’s one of those places that you can leave your door unlocked, not that we actually do.” From the front porch, Aspen, Smuggler, and Red Mountain ski resorts are all visible. Rubinson is selling the property because “I’ve achieved what I intended to do,” she said. “I wanted to renovate it and make someone appreciate it the way I thought it should be appreciated, and I did.” Th e house is listed by Melanie Muss of Douglas Elli- man Real Estate. — Bloomberg 05 06