Read this copy online @ theedgeproperty.com MAKE BETTER DECISIONS

ep12 DEALMAKERS ep13 FOREIGN ep14 GARDEN Raising standards Lady Violet’s home, Garden in a jar anyone? When to buy in KLCC? Transacted prices for non-landed residences in City Centre (KLCC) eased slightly in 3Q2014 from a year ago, according to analysis by theedgeproperty.com. Amid more competition among landlords for tenants and a poor external environment, there may be bargains to be found in KLCC. Story on EP8 and 9. FRIDAY MAY 22, 2015 • THEEDGE FINANCIAL DAILY EP2 PROPERTY | NEWS

ON NEWS ROUNDUP For more news, go to theedgeproperty.com

Malton bags RM208m job to intact. He added that WCT ibis Budget will have 162 tourist- the hotel that pay homage to local, build Royale Pavilion Hotel would wait for its retail malls to class rooms. Both hotels will be regional and global fl avours. Domain Resources Sdn Bhd, a whol- reach operational maturity. situated beside Crystal Lagoon, The 573 sq m grand ballroom ly-owned unit of property developer Its retail assets in Selangor Southeast Asia’s fi rst and largest seats 380 guests banquet-style, and Malton Bhd, has been given a letter comprise the Bukit Tinggi recreational seawater body. The has removable partitioning walls of award to build one block of Royale Shopping Centre in Klang, 6.3ha of crystal-clear water will to transform the space into smaller Pavilion Hotel located on Jalan Bukit Paradigm Mall in Petaling Jaya off er interactive water sports and venues. There are fi ve meeting and Jalan Raja Chulan, and gateway@klia2 in Sepang. a wide range of recreational and rooms, each accommodating Kuala Lumpur. The job is worth adventure activities for guests. up to 80 guests, which off er RM208 million. Landmarks in JV for two hotels fl exible seating plans and Time to buy The letter was issued by Harmoni in Treasure Bay Bintan JW Marriott opens comprehensive business facilities. in KLCC? Perkasa Sdn Bhd, a wholly-owned 11th hotel in China unit of Urusharta Cemerlang Sdn JW Marriott Hotels & Resorts contin- 10,000 aff ordable houses to be Bhd, in which its chairman Tan Sri ues to expand its luxury portfolio in built in Perak by 2018 Desmond Lim Siew Choon is an China with its 11th property, the JW Some 10,000 units of aff ordable indirect substantial shareholder. Marriott Hotel Zhejiang Anji, which houses under the Perak State Devel- In a fi ling with Bursa Malaysia opened on May 18. opment Corporation (PKNPk) will be dated May 18, Malton said a The 228-room hotel is located built in stages from now until 2018. contract to fi nalise the scope and within the world-class Phoenix Mentri Besar Datuk Seri Dr value of the construction works International Golf Course and Zambry Abdul Kadir, who is also “will be entered into between close to Anji’s legendary bamboo PKNPk chairman, said the projects Brickfi elds Domain Resources and Harmoni forests, where the Oscar- would not be concentrated on on the move Perkasa in due course”. winning movie Crouching Tiger, any one area based solely on its Landmarks Bhd, through its whol- Hidden Dragon was fi lmed. economic growth, but would also WCT may postpone RM2b REIT ly-owned subsidiary PT Bintan The property was designed be implemented in the rural areas. listing on cautious sentiment Hotel Utama (PTBHU) entered into with neutral tones to celebrate “PKNPk’s goal is to raise the WCT Holdings Bhd may postpone a joint-venture (JV) agreement with its natural surroundings and living standards of the people and its plans to set up a RM2 billion real ML Hotel Investments Pte Ltd (ML encourage relaxation. not just about making profi ts,” estate investment trust (REIT) from Hotel) on May 18 to develop, own It off ers generous 45 sq m Zambry told reporters after this year to next year. and operate two global hotel chains, deluxe garden rooms and a launching two aff ordable housing WCT deputy managing director Mercure and ibis Budget, in Treasure selection of luxurious suites. schemes under the “Rumahku Goh Chin Liong said on May 19 Bay Bintan, Bintan Island, Indonesia. There are two restaurants in Aman Jaya Bandar Meru Raya” that the retail-based REIT was Both hotels are expected programme on May 19. “unlikely” to be formed this year to open in 2017 and will be Under Phase One, 1,704 units due to cautious market sentiment. managed by Accor Group. of aff ordable houses will be “I don’t think [listing of the Mercure is poised to become built and priced at RM145,000 to REIT] will be this year. Everybody the island’s tallest landmark at RM166,000 per unit at the D’Aman is cautious. We will continue to 10 storeys. The hotel will off er 182 Residensi scheme while units at The Edge Communications Sdn Bhd review [the plans],” said Goh. new keys to Treasure Bay Bintan, the Casa Kayangan scheme will (266980-X) However, Goh maintained of which 114 long-term leases be priced from RM250,000 to Level 3, Menara KLK, No 1 Jalan PJU 7/6, Mutiara Damansara, 47810 Petaling Jaya, that the REIT plan was still will be made available for sale. RM299,000 per unit. — Bernama Selangor, Malaysia

Publisher and Group CEO Ho Kay Tat If you have any real estate-related events, email us at [email protected]. LAUNCHES & EVENTS Events listed here will also appear on theedgeproperty.com. Editorial For News Tips/Press Releases Tel: 03-7721 8219 Fax: 03-7721 8038 Email: [email protected] Fiabci 66th World Real Estate London’s Principal Tower Fiabci premium property Congress launches Upper House showcase Senior Managing Editor Azam Aris Dates: May 29 to May 31 residences Dates: May 27 to May 31 Contributing Editor Sharon Kam Venue: One World Hotel, Dates: May 23 and 24 Venue: Lower ground fl oor, Editor Rosalynn Poh Deputy Editors E Jacqui Chan, First Avenue, Bandar Utama Venue: Topaz Room, Level 1 Utama Shopping Centre, Wong King Wai, Llew-Ann Phang City Centre, Selangor 2, Mandarin Oriental Bandar Utama Assistant Editor Lam Jian Wyn Time: 9am to 5.30pm Hotel, Kuala Lumpur Time: 10am to 10pm (10.30pm Writers Zatil Husna Wan Fauzi, Contact: (03) 6203 5090 / Time: 10am to 7pm on Friday and Saturday) Elena Tunku Sherie, Chai Yee Hoong, Lim Kian Wei, fi abcimalaysia@fi abci.com.my Contact: (012) 326 3800 (Jazmine) Contact: Rachel Chew, Hannah Rafee, There will be a keynote address and / (016) 290 0353 (Shu Ling) [email protected] Carmel Dominic various papers presented by local The event is organised by JLL Organised by Fiabci Asia Pacifi c, and international speakers. The Property Services (Malaysia) Sdn the exhibition showcases premium Art Director Sharon Khoh Design Team Cheryl Loh, theme of the congress is “Urbani- Launch at Hillpark @ Shah Bhd and will showcase one, two properties from Malaysian devel- Valerie Chin, Aaron Boudville, sation: Perils or Prosperity?” It will Alam North and 3-bedroom apartments and opers, including Mah Sing Group Aminullah Abdul Karim, focus on urban planning in a world Dates: May 23 and 24 penthouses of the Upper House Bhd, OSK Property Holdings Bhd, S Yong Yik Sheng, Tun Mohd Zafi an where more than half of the global Venue: Hillpark Sales Gallery, collection that are located on the P Setia Bhd, IJM Land Bhd, MRCB, Mohd Za’abah population live in cities. This number No 1, Jalan Batu Arang, Bandar top 30 fl oors of Principal Tower UEM Sunrise Bhd, Bandar Utama Corporate is projected to reach 70% by 2050. Puncak Alam, Selangor in London. Selling prices start at Development Sdn Bhd and many Managing Director Au Foong Yee Time: 10am to 5pm £986,000 (RM5.5 million). The others. Deputy Managing Director Preview of Residensi Sefi na by Contact: (03) 3393 7577 50-storey residential tower was Lim Shiew Yuin UEM Sunrise or (019) 3353 177 designed by Foster + Partners and Resimax Northern Growth Advertising & Marketing Dates: May 23 and 24 MKH Bhd will launch its Meranti jointly developed by Brookfi eld Corridor showcase To advertise contact Venue: UEM Sunrise 2-storey terraced houses and its Property Partners LP, Concord Date: May 23 and 24 GL: (03) 7721 8000 Showcase, No 21, Jalan Kiara, Avenue two and 3-storey shop Pacifi c and W1 Developments. Venue: Tulip Room Level 1, Fax: (03) 7721 8288 Chief Marketing Offi cer Mont’Kiara, Kuala Lumpur offi ces at Hillpark @ Shah Alam InterContinental Hotel Sharon Teh (012) 313 9056 Time: 10am to 5pm North, which is located within the Kuala Lumpur Senior Sales Managers Contact: 1800 888 008 Bandar Puncak Alam township. Time: 10am to 7pm Geetha Perumal (016) 250 8640 Sefi na will have 245 units of 3-bed- The two designs of terraced houses Contact: (017) 2233 965 Fong Lai Kuan (012) 386 2831 Shereen Wong (016) 233 7388 room apartments with built-up measure 20 x 65 ft and 20 x 70 ft Australian developer Resimax Peter Hoe (019) 221 5351 areas of 1,333 sq ft, 1,548 sq ft and and come with four bedrooms and Group presents four phases of its Gregory Thu (012) 376 0614 1,771 sq ft. They are priced between three bathrooms, while the shop upcoming Melbourne project. Prod- Ad-Traffi c Manager RM1 million and RM1.5 million. offi ces measure 22 x 70 ft, 22 x 75 ucts include 1-storey and 2-storey Vigneswary Krishnan (03) 7721 8005 Ad Traffi c Asst Manager ft and 22 x 80 ft. Prices of the ter- bungalows from A$392,000 (RM1.1 Roger Lee (03) 7721 8004 raced houses start at RM570,000 million). Executive Ad-Traffi c and RM1.2 million for the shop Norma Jasma (03) 7721 8006 offi ces. The event theme is “Korean Email: [email protected] Vaganza” and visitors stand a chance to win a Korean holiday The Edge Property is published and worth RM10,000. There will also distributed with The Edge Financial be traditional Korean activities and Daily every Friday. For more property data, listings and news, go Korean food. to theedgeproperty.com.

FRIDAY MAY 22, 2015 • THEEDGE FINANCIAL DAILY EP4 PROPERTY | NEWS Cautious sentiment AUCTION Sold

Property type: Flat pervades KL market Address: Unit No B-09-04, ninth fl oor, Block B, Pangsapuri Permai Indah, Taman Permai Indah, Pandamaran Jaya, 42000 Pelabuhan Klang, Selangor Darul Ehsan DTZ: More malls, high-end condo and offi ce markets remain challenging Tenure: Leasehold Reserve price: RM45,000 Transacted price: RM45,000 BY CHAI YEE HOONG sales as consumers grapple with the intro- of condominiums and registered a drop in Built-up area: 657.80 sq ft duction of GST. Th e sector remained resilient both rental and capital values for the high- Auctioneer: Ehsan Auctioneers Sdn Bhd PETALING JAYA (May 22): Capital values in despite a marginal decline in occupancy by end condo market, according to DTZ. Contact: (03) 2161 6649 Kuala Lumpur’s offi ce market increased by 1% to 90.3%, while being driven by domestic Th ere were 1,377 condo units completed about 6% despite weaker rental rates that put demand, it said. in 1Q, which was more than 10 times that Property type: Terraced house yields under pressure, according to the DTZ Th e report noted that the retail stock in KL for the same period last year, the report Address: No 218, Jalan Hamzah Alang Research Property Times Kuala Lumpur 1Q stands at 24.45 million sq ft, with some 1.27 states. Among these projects are Th e Hori- 45, Taman Kampar Ria 2, 42200, 2015 report, “Cautious Sentiment Aggravates million sq ft of retail space expected in 2015. zon Residences with 335 units in Jalan Tun Kapar, Selangor Darul Ehsan Uncertainties”. Some of the upcoming malls in the Klang Razak and Laman Ceylon with 230 units in Tenure: Freehold Moreover, the weak oil and gas sector, which Valley within the next three years are Sunway Jalan Ceylon. Reserve price: RM50,000 has traditionally driven the offi ce demand, is Putra Place (620,000 sq ft NLA), Sunway Ve- For the remaining quarters, an additional Transacted price: RM65,000 expected to have a signifi cant impact on the locity (1 million sq ft), Atria Shopping Mall 6,562 condo units are expected to enter the Land area: 899.97 sq ft market in the short to medium term, while di- (450,000 sq ft), AEON Shah Alam (500,000 sq market, with some 7,939 units expected to Auctioneer: Ehsan Auctioneers Sdn Bhd versifying to other higher-value service sectors ft), and Th e Two @ Rawang (1.35 million sq ft). be completed by year-end. Contact: (03) 2161 6649 remains challenging, it said. Also upcoming are a 1.2 million sq ft mall in “Th e higher new supply will defi nitely put Since last year, the impending offi ce sup- the BBCC project, UDA Holdings’ redevelop- some pressure on rental values, especially Property type: Apartment ply has been a concern to the market. Menara ment of Bukit Bintang Plaza through a JV with in the city centre,” stated the report. Address: No 1B-79B, fi rst fl oor, Jalan Centara is the only offi ce completed in 1Q Tradewinds International Sdn Bhd, a new mall Some of the major developments that Dato Dagang 31, Taman BK Sentosa, with 200,000 sq ft of net lettable area (NLA), in the Tun Razak Exchange project that has a should be completed this year include the 41200, Kajang, Selangor Darul Ehsan while 2Q is expected to inject close to three potential GDV of more than RM8 billion, and Banyan Tree Residences with 441 units at Tenure: Freehold million sq ft of offi ce space with Naza Tower, the redevelopment of Cheras Velodrome by a Jalan Conlay, and M City Residential Suites Reserve price: RM45,000 Q Sentral and Summer Suites. In 2015, some textile merchant-turned-developer Jakel De- with 1,118 units at . Transacted price: RM45,000 six million sq ft of completions are expected. velopment Sdn Bhd. Meanwhile, average rents of high-end Built-up area: 730 sq ft It was also noted that rental rates are likely Th e four-storey Tropicana City Mall and condos in KL eased 2% to RM3.42 psf per Auctioneer: Ehsan Auctioneers Sdn Bhd to stay stagnant as the market awaits the in- 12-storey Tropicana City Offi ce Tower were month, a drop from RM3.49 psf per month in Contact: (03) 2161 6649 coming supply. also acquired by CapitaMall Malaysia Trust the previous quarter, according to the report. Meanwhile, the supply was off set by overall for RM540 million, following the confi dence in Due to cooling measures, the overall av- take-up of 208,000 sq ft with minimal change the retail market, the report said. Meanwhile, erage price fell 3.2% quarter-on-quarter in in vacancy rate. Total offi ce supply currently some malls are undergoing rebranding and 1Q to RM749 psf from RM774 psf in 4Q2014. stands at 72.5 million sq ft, while total occupied repositioning to face impending challenges. Th e quarter saw the launch of Tropica- Up for bid space is estimated at around 60.2 million sq ft. Th e SSTwo Mall, which has not been trading na Th e Residences on Jalan Ampang. Th e Also recorded in 1Q are office building well since its completion, is set to be rebranded project, which is part of the proposed in- transactions that include Quill 10 in Section and scaled down in size by its owner AsiaMalls tegrated W Hotel, off ers 353 luxury apart- 13, Petaling Jaya, which was transacted at Sdn Bhd under its entity Pramerica AsiaRetail. ments in a 55-storey tower atop a 24-storey Auction date: May 23, 2015 RM27.3 million, as well as Plaza Pekeliling in Th e quarter saw the refurbishment of Cap- W Hotel. Th e apartments range from one to Property type: Residential Jalan Tun Razak (at RM28.28 million), which is Square after its acquisition from Bandar Raya three-bedroom units with built-ups of 710 Address: Unit No A9-1, Ground set to be converted into a SoHo development. Developments Bhd in 2012 and the entry of sq ft to 1,604 sq ft, with an average price of Floor, Block A9, Ixora Permai Resort, Jakel Mall with 330,000 sq ft. RM2,500 psf, according to the report. 71020, Pasir Panjang, Port Dickson More malls being developed “Developers will need to rethink strate- Tenure: Leasehold In KL’s retail sector, more shopping malls will High-end condominium market sees gies to attract demand, and will be turning Reserve price: RM50,000 be developed as planned despite challenges drop in rental and capital values to more aff ordable housing, if their landbank Land area: 606.56 sq ft such as the expected slower growth of retail Th e fi rst quarter saw signifi cant new supply are suitable,” DTZ said. Auctioneer: Ng Chan Mau & Co Sdn Bhd Contact: (03) 2162 3333 / 2163 2222

Auction date: May 23, 2015 Property type: Residential YTL Land’s Penang Shorefront sold out Address: Unit No P5-07-13A, Pangsapuri Indahria, No 4, Jalan Batu Tiga-Sungai Buluh, Taman Impiana, BY LIM KIAN WEI Seksyen 22, 40300, Shah Alam Tenure: Freehold GEORGE TOWN: YTL Land and Develop- Reserve price: RM300,000 ment Bhd (YTL Land) sold the fi nal units of Land area: 1,008 sq ft its Penang Shorefront low-rise condominium Auctioneer: Ng Chan Mau & Co Sdn Bhd project at a preview last weekend. Contact: (03) 2162 3333 / 2163 2222 “It’s amazing to witness the way the market responded to our Shorefront project, a niche Auction date: May 27, 2015 upmarket, low-rise and low-density develop- Property type: 2-bedroom fl at ment right in the heart of George Town and Address: Unit No 3-13, third fl oor, Block neighbouring the historic Eastern and Ori- I, Taman Dagang, 68000, Ampang ental (E&O) Hotel,” said YTL Land executive Tenure: Leasehold director Datuk Yeoh Seok Kian in a statement. Reserve price: RM63,000 “We strongly believe in innovation and Land area: 480 sq ft invested heavily in our concept and design to Auctioneer: Ng Chan Mau & Co Sdn Bhd complement Shorefront’s unrivalled location Contact: (03) 2162 3333 / 2163 2222 — a landmark seafront address within this unique heritage zone in Penang’s capital city.” Penang Shorefront has a gross development value of RM310 million. Photo by YTL Land Auction date: May 26, 2015 YTL Land said the project is now fully sold Property type: Residential before launch, with the remaining 45 units includes the sinking fund. Hong Kong and Singapore to select their units Address: Unit No 11-1, 11th Floor, being snapped up at the preview last week- Th e units have a built-up area of between at the show gallery as well, says YTL Land. Flat Dahlia, Persiaran Bukit Raja, end. Th e fi rst two blocks of the project off ering 1,400 sq ft and 3,400 sq ft. Th e project has a “At RM2,100 psf, this is a new record price Bandar Baru Klang, 41150, Klang 67 units were previewed over a weekend in gross development value of RM310 million. for the upmarket luxury lifestyle segment in Tenure: Leasehold February and were fully sold then. YTL Land said the project is 35% complete Penang. Th is new benchmark refl ects a strong Reserve price: RM23,900 Th e three-acre freehold project comprises and will be fully completed in 2017. demand for quality homes in a premium Land area: 650 sq ft 115 units in three fi ve-storey blocks. Prices Buyers comprise of repeat customers and location, and is a very positive sign for the Auctioneer: Ng Chan Mau & Co Sdn Bhd were between RM1,300 psf and RM2,100 psf. registrants who missed out on the fi rst release market, which had been slowing down un- Contact: 03 2162 3333/2163 2222 Th e maintenance fee is 65 sen psf, which in February. Some buyers fl ew from Bangkok, der a subdued economic climate,” Yeoh said.

FRIDAY MAY 22, 2015 • THEEDGE FINANCIAL DAILY EP6 PROPERTY | NEWS Malaysia to host Fiabci 66th World Real Estate Congress

BY CHAI YEE HOONG Fiabci World president Robyn Waters said there is much tion for expert view on real estate by the United Nations,” to learn from Malaysia, which is undergoing rapid real es- says Fiabci Malaysia president Tengku Abdul Aziz Tengku PETALING JAYA: For the second time in a decade, Malaysia tate growth, with Kuala Lumpur as the most populous and Mahmud. will host the Fiabci or International Real Estate Federation fastest-growing metropolitan city in the country. Th e annual world congress is a gathering of experts con- 66th World Real Estate Congress. “Malaysia offers Fiabci World Congress attendees a cerned about the future of real estate development. Th e three-day event that runs from May 29 to 31 will unique opportunity to learn fi rst-hand about urbanisation According to the United Nations World Urbanisation feature eminent speakers and host about 1,000 delegates and dynamic real estate markets, and how they handle this report, more than half of the global population currently from 48 countries meeting to discuss this year’s theme: growth,” says Waters, in a press statement. live in townships and this is projected to reach 70% by 2050. “Urbanisation: Perils or Prosperity”. “Fiabci is recognised as a non-governmental organisa- “Hence, urbanisation is an important and crucial issue to be discussed,” says Tengku Abdul Aziz. Among the speakers at the congress will be chairman of Springfi eld Corporation in Australia, Maha Sinnathamby, who will share insights into building sustainable cities Down Under; senior research fellow from the Lee Kuan Yew Centre for Innovative Cities at the Singapore University of Technology and Design, Belinda Yuen, who will speak on smart urban development; and former mayor of Taichung City in Taiwan, Jason Hu, who speak on Taichung’s trans- formation into a model sustainable city. Apart from the public forums and conferences during the congress, there is also the Fiabci World Prix d’Excellence Awards Gala Night that will be held on May 30. Th e awards will be presented by the Yang di-Pertuan Besar of Negeri Sembilan Tuanku Muhriz Tuanku Munawir. Principal Place Residential launches £160 mil Upper House in Kuala Lumpur

BY LIM KIAN WEI

KUALA LUMPUR: Principal Place Residential Ltd will be launching 90 units of luxury apartments named Upper House at Mandarin Oriental Hotel in Kuala Lumpur this weekend. Th e project is located along Shoreditch High Street in London EC2. Principal Place Residential is a joint-venture between Brookfi eld Property Partners LP, Concord Pacifi c and W1 Developments Ltd. “Th e location [of Upper House] is right in the heart of the city and only a fi ve-minute walk to the Liverpool Street Sta- tion,” Brookfi eld (UK) vice-president Richard Amlot told th- eedgeproperty.com yesterday. “We are also next to Shoreditch, which is becoming a brand for a trendy area. So we have one place to work, and the other place to play.” Th e £160 million (RM901.4 million) Upper House will take up the top 30 fl oors of Principal Place’s 50-storey Principal Tower, where the lower fl oors feature offi ce and retail spaces. Th e residential units will come in 1, 2 plus study and 3-bed- room layouts, with built-ups of between 533 and 2,702 sq ft. Selling prices start at £986,000. Th e estimated service charge is £6.96 psf per annum. Th e project sits on 3.5 acres, which includes a half-acre public piazza on the ground level. Its facilities include gym, spa, screening room, lap pool and 24-hour concierge. Upper House is expected to be ready by the fourth quar- ter of 2018. Th e architect for Principal Tower is London-based Foster + Partners Ltd. “With our clients, we wanted to create a mixed-use devel- opment for people, not just for those who work, shop and live there. We want the place to be very lively and full of people socialising,” says David Kong, partner at Foster + Partners.

FRIDAY MAY 22, 2015 • THEEDGE FINANCIAL DAILY FRI EP8 PROPERTY | COVER STORY

PHOT

Du

Challenging times for Prime land KLCC or Kuala Lumpur City Cen- tre comprises prime plots of land and premium properties right in the middle of the capital. The area KLCC condo market is located around Jalan Ampang, Jalan P Ramlee, Jalan Binjai, Jalan Kia Peng and Jalan Pinang. Th KLCC is one of the most instantly recognisable properties for its back- Prices are stagnant, transactions are down, and rents face downward pressure drop of the Petronas Twin Towers. of In the years since they were built, pen but well-managed residences are expected to fare well the concepts of sustainability, sen- Th sitivity to place, climate and walk- 200 ability have become major influ- bet BY RACHEL CHEW asking prices,” says Zerin Properties head 3Q2014 shows that a 3-bedroom unit at Th e ences on large-scale developments of private wealth Terence Yap. Orion changed hands for only RM354,000, or world wide. in t or most new homebuyers, proper- However, Yap is optimistic that demand RM497 psf. Interestingly, two of Th e Orion’s KLCC was mooted as the premier the ties in for good, built developments remains strong, units were transacted below market price, urban development in the country. pen (KLCC) are probably “obnoxious- even though most of the smaller apartments at RM261 psf and RM272 psf, during the 12 The plan was to maximise its value Me ly overpriced” or simply “not for have seen prices fall below the RM1 million months to 3Q2014. by creating an integrated master at R ordinary people”. price range during the review period. However, theedgeproperty.com also found plan development that drew on the Du However, the upmarket KLCC “Th e prices of some [KLCC] condos are that Th e Orion has the highest rental yields existing assets at the site. Faddress is not only for buyers with deep pock- very attractive right now. Th is is the best in the area, at 6.7%. It is also the cheapest The Petronas Twin Towers have ma ets. According to theedgeproperty.com data, time to pick up a property [there]. Th e mar- project to rent in the area, with an average been the landmarks of KLCC since lea property prices in KLCC have generally stag- ket will slowly recover in the second half of monthly rate of only RM2.76 psf. their completion in 1998. They were rec nanted over the past two years, even if the 2015,” says Yap. This could be because The Orion is a the tallest buildings in the world and average transacted price has remained above Th ere are indeed bargains to be found high-density condominium located on Jalan remain the tallest twin towers and als RM1,000 psf since the fi rst quarter of 2013 in the KLCC area. Data by theedgeproper- Tun Razak, away from KLCC’s Petronas Twin are one of the most-photographed Ave (1Q2013). ty.com for the period between 3Q2013 and Towers area. It has 36-storeys of 202 units and visited sites in the country. nee Analysis of non-landed residences in KLCC The 1,480ft-tall buildings are shows that the average price softened slightly owned by KLCC Property Hold- Tun to RM1,052 psf in 3Q2014, down 2.2% from ings Bhd and built on the site that rela RM1,076 psf year-on-year. (See Chart 1). was once home to the Kuala Lum- nar Compared with its peak of RM1,167 psf in pur race course. Cro 4Q2013, the average price dropped 9.9%. The US$1.6 billion (RM5.79 bil- “Th e number of overall transactions lion) structure was designed by a exe in KLCC fell or was rather fl at in 2014. team of architects led by Cesar Pelli, Yap Prior to the implementation of the Goods comprising Deejay Cerico, JC Guinto for and Services Tax, many buyers adopted a and Dominic Saibo. The structure’s wait-and-see attitude, leading to the drop floor plate is based on simple Is- bec in transactions. Owners with weak hold- lamic geometric forms of two inter- sub ing power may resort to dropping their locking squares, creating a shape of eve eight-pointed stars. They describe the important Islamic principles gen From left: Sarkunan, of “unity within unity, harmony, wh Chua and Yap. stability and rationality”. a g The Edge fi le photos ty p lon FRIDAY MAY 22, 2015 • THEEDGE FINANCIAL DAILY COVER STORY | PROPERTY EP 9

PHOTOS BY SHAHRIN YAHYA/THE EDGE PROPERTY Source: theedgeproperty.com

Chart 1: KLCC non-landed residential average price

Source: theedgeproperty.com

Chart 2: KLCC Top 5 least expensive condominiums/apartments Dua Residency 2 Hampshire by average price per square foot

signifi cant price growth at 8.9% and 6.5% re- buoyant market towards the end of the year. spectively, to RM1,446 psf and RM1,482 psf. Th ese projects have been quite successful Moving forward with buyers, with their compact units being Sarkunan believes the high existing supply of the most popular. units in the high-rise, high-end residential seg- “Th e Binjai, Marc Residence and Fraser ment in KLCC will continue to challenge yields. Place are popular with expatriates and long- “In total, some 1,732 units [were com- The Orion Crown Regency stay guests in KLCC due to their strategic lo- pleted] in 2014. Th e market will be challeng- cation and level of services, amenities and ing, particularly in locations where there is facilities,” says Sarkunan. weak occupational demand from expatriates of standard condominiums, duplexes and Highest transacted price and locals. Th ere will be heightened com- penthouses. Completed in September, 2006, Th e KLCC area remains the country’s most Pressure on rents petition between unit owners in both the Th e Orion was launched at RM316 psf in expensive address. Th e Binjai on Th e Park While condominiums in the KLCC area are sales and rental markets. Besides, the slew 2004. It off ers units with a built-up area of recorded the highest transacted price dur- generally targeted at the high-end and expatri- of cooling measures and the weak state of between 1,161 sq ft and 1,629 sq ft. ing the review period with an average unit ate markets, rental rates can vary quite widely the economy have further dampened the Th e Orion is not the only aff ordable product price of RM5 million. Th e average price psf in across properties. During the 12 months to high-end, high-rise residential market in in the area. According to transaction data for 3Q2014 was RM2,005 psf. Knight Frank Ma- 3Q2014, rental rates ranged from RM3.50 psf KLCC,” says Sarkunan. the 12 months to 3Q2014, among the least ex- laysia managing director Sarkunan Subrama- to RM5 psf, and reached as high as RM6 psf However, he expects the price trend in pensive non-landed residences in KLCC were niam says the average price psf hit RM2,200 at Vipod Residences and Th e Binjai. KLCC to remain relatively stable, with mar- Menara Avenue at RM550 psf, Crown Regency in March this year. According to data collated by theedgeprop- ginal declines in selected developments as at RM727 psf, 2 Hampshire at RM789 psf and Th e Binjai is a luxury condominium devel- erty.com, Th e Orion had the highest asking well as in locations where there are signifi - Dua Residency at RM863 psf. (See Chart 2) oped by Layar Intan Sdn Bhd, a subsidiary of rental yield of 6.7% and an average asking cant new completions. Yap says their location and age are the KLCC Property Holdings Bhd. Th e 44-storey monthly rent of RM2.76 psf. It was followed Yap says good quality developments will main reasons these five projects are the development located on Jalan Binjai has 171 by Th e Meritz (6%), Hampshire Residences continue to enjoy stable prices or even price least expensive high-rises in KLCC for the units and was completed at end-2008. (5.3%), Parkview Service Apartment (5.3%) appreciation. recorded period. “Th e Binjai on Th e Park is the only residen- and Crown Regency (5.3%). “Most properties that enjoy good price “Besides the age of the developments, it is tial component within the renowned KLCC KGV International’s Chua notes that cur- growth are smaller apartments because they also a bit of a long walk to KLCC. For Menara development overlooking the KLCC Park,” rent rental yields range between 3% and 5%, are more aff ordable in absolute terms. Strong Avenue and Crown Regency, their facilities says Sarkunan. “Together with Fraser Place a slight drop from previously due mainly to demand for such properties has pushed the need sprucing up,” says Yap. and Marc Residence, Th e Binjai is located near the subdued overall market. prices of these units up,” he says. “Th e Orion is located on the fringes of Jalan the 100-acre KLCC development with iconic Meanwhile Zerin’s Yap has also observed Many of the new launches in KLCC are Tun Razak; Menara Avenue is situated next to landmarks such as the Petronas Twin Towers a slight overall drop in rentals recently. “We branded properties such as Th e Residenc- relatively dated offi ce buildings such as Me- and the regional shopping mall of Suria KLCC.” are seeing a slight drop in rents as many units es, Ritz-Carlton Residences, Four Seasons nara TM Asia Life and Megan Avenue 1; and Th e Binjai, Fraser Place, Marc Residence, become available after oil and gas companies Place and Pavilion Suites, which sell for above Crown Regency is located on Jalan P Ramlee.” Vipod Residence and Th e Pearl KLCC are reduced their staff strength. RM2,500 psf. “Th is may create a domino eff ect KGV International Property Consultants the top fi ve most expensive non-landed res- “Smaller apartments enjoy higher rents psf of raising prices of older and smaller apart- executive director Anthony Chua agrees with idences based on average price psf in KLCC. but this is off set by a higher purchase price ments in the vicinity,” says Yap. Yap that it is an opportune time to search According to data by theedgeproperty. psf. Generally, most large condominiums in In the long run, Sarkunan says, the on- for property in the KLCC area. com, Hampshire Place recorded the highest KLCC are rented out for between RM3 psf going infrastructure works, proposed tran- “Generally, property prices have dropped growth for average price psf, rising 10.5% in and RM3.50 psf while smaller ones go for sit-oriented developments and the comple- because of reduced demand, but I don’t see a 3Q2014 to RM1,139 psf from a year ago. between RM4.50 psf and RM6 psf,” says Yap. tion of branded residences will have a positive substantial change in prices at the moment, Hampshire Place is another luxury However, he thinks the current weak yields eff ect on the KLCC property market and raise even in the next 12 months. residential property in the KLCC vicinity, are only a short-term trend and expects a more its profi le as a bustling, cosmopolitan enclave. “If Th e Orion, Menara Avenue, Crown Re- located on Persiaran Hampshire. Devel- gency, 2 Hampshire and Dua Residency fi t oped by Tan & Tan Developments Bhd, what you are looking for, I would think now is the freehold development consists of two a good time [to buy, because] overall proper- blocks of 186 units. It was launched in 2007 ty prices will continue on the uptrend in the at a selling price of RM600 psf. long run. Prices are likely to grow in the future.” Marc Residence and Fraser Place also saw FRIDAY MAY 22, 2015 • THEEDGE FINANCIAL DAILY EP10 PROPERTY | MARKET WATCH Go to theedgeproperty.com for more listings

FOR SALE [Selected listings of KLCC properties below RM2mil] FOR RENT [in KLCC]

Tel: (012) 314 2864 D’Mayang Condominium with kitchen cabinets and built-ins Email: christinechua@ Type: Condominium/ Agent/negotiator: Elaine henrybutcher.com.my serviced residence Kow of Reapfi eld Properties Tenure: Freehold (Puchong) Sdn Bhd Asking rent: RM5,900 Tel: (017) 225 0683 / (012) 266 9231 Built-up: 1,660 sq ft Email: elainekow@reapfi eld.com Bedrooms: 3 Hampshire Place Idaman Residences Bathrooms: 3 Hampshire Park Condominium Type: Condominium/ Type: Condominium/ Description: A unique unit with Type: Condominium/ serviced residence serviced residence a garden courtyard. Beautiful serviced residence Tenure: Freehold Tenure: Freehold and serene environment. Tenure: Freehold Asking price: RM1,460,000 Asking price: RM1,430,798 Agent/negotiator: Shoba Asking rent: RM6,500 Built-up: 1,356 sq ft Maintenance fee: RM0.35 psf Hampshire Residences of Vision Homes Realty Built-up: 2,600 sq ft Bedrooms: 2 Built-up: 1,551 sq ft Type: Condominium/ Tel: (012) 224 9200 Bedrooms: 3+1 Bathrooms: 2 Bedrooms: 3 serviced residence Email: [email protected] Bathrooms: 4 Description: Pool view; nicely Bathrooms: 2 Tenure: Freehold Description: Fully-furnished, well- renovated; low fl oor; fully- Description: This unit comes with Asking price: RM878,000 Binjai Residency kept unit within walking distance furnished; previously tenanted at one parking bay. Idaman Residence Built-up: 753 sq ft Type: Condominium/ of Suria KLCC and fi ve minutes RM6,000. Walking distance to KLCC is a high-end condominium situated Bedroom: 1 serviced residence from Petronas Twin Towers LRT station and amenities; asking opposite the Petronas Twin Towers in Bathroom: 1 Tenure: Freehold Agent/negotiator: Amarat RM1.46 million or RM1,080 psf. KLCC. There are nine units on each Description: This unit is tenanted Asking rent: RM8,000 Gill Gill of Metro Homes KL Agent/negotiator: Clarisse fl oor, with sizes ranging from 877 sq to an expatriate at RM3,500 till Built-up: 2,178 sq ft Tel: (019) 263 6200 T of Jann Properties ft to 2,174 sq ft where the ceiling is July 2015. The mid-level unit is Bedrooms: 4 Email: amarat@ Tel: (016) 212 6193 10ft high and the living room, dining in Block A, facing North East. The Bathrooms: 5 gillsproperties.com Email: clarisseproperty@gmail. room and master bath are laid with project is conveniently located Description: Fully furnished com (www.clarisseproperty.com) imported marble. The units also 300m from Avenue-K Shopping Agent/negotiator: Ken Hampshire Residences off er views overlooking KLCC and Mall, 400m from Lai of NK Properties Type: Condominium/ KL. Located in an enclave off Jalan Mall and LRT Station, and 500m Tel: (017) 606 9056 serviced residence P Ramlee, it is near nightclubs, from KLCC & KLCC LRT Station. Email: [email protected] Tenure: Freehold shopping malls and eateries. Agent/negotiator: Roy Teo Asking rent: RM9,000 Agent/negotiator: Wendy of Property Hub Sdn Bhd Binjai 8 Built-up: 3,337 sq ft Soh of Hartamas Real Estate Tel: (012) 216 9026 Type: Condominium/ Bedrooms: 3+1 (Malaysia) Sdn Bhd Email: roy.teo@ serviced residence Bathrooms: 3 Tel: (012) 398 2288 propertyhub.com.my Tenure: Freehold Description: Located on Persiaran Parkview Serviced Apartment Email: wendysoh@hartamas. Asking rent: RM3,500 Hampshire, Jalan Ampang, this Type: Condominium/ com; [email protected] Built-up: 761 sq ft fully-furnished unit is vacant serviced residence Bedroom: 1 and in move-in condition. It Tenure: Freehold Bathrooms: 2 faces Suria KLCC and comes Asking price: RM740,000 Description: Mid-fl oor unit, with two parking bays. Maintenance fee: fully furnished and in move-in Agent/negotiator: Calvin Yew RM0.35 psf (RM180) condition. Faces The Troika. Comes of Vision Homes Realty Built-up: 515 sq ft with a fridge, dining table and Tel: (012) 969 7882 Bedroom: 1 chairs, kitchen cabinet, cooking Email: calvinyew. Bathroom: 1 The Orion hob and hood, beds, wardrobes, [email protected] Description: The project is located Binjai 8 Type: Condominium/ sofa, TV and washing machine. in Changkat Perak. The unit is on a Type: Condominium/ serviced residence Agent/negotiator: Kelly Tan Marc Residence high fl oor and fully furnished with serviced residence Tenure: Freehold of CBD Properties Sdn Bhd Type: Condominium/ walk-in-wardrobe, air-conditioning, Tenure: Freehold Asking price: RM860,000 Tel: (012) 266 0695 serviced residence cooker hob and hood, intercom and Asking price: RM950,000 Built-up: 1,323 sq ft Email: [email protected] Tenure: Freehold water heater. Currently tenanted, Built-up: 762 sq ft Bedrooms: 3 Asking rent: RM6,500 it is available for rent at RM2,800 Bedroom: 1 Bathrooms: 3 Quadro Residences Built-up: 1,330 sq ft from July 1. It comes with one Bathrooms: 2 Description: Bright and airy, Type: Condominium/ Bedrooms: 3 parking bay and has a view of KLCC. Description: SOHO for sale or modern and tastefully renovated serviced residence Bathrooms: 2 Agent/negotiator: Jo Lim to let. This unit is renovated and with quality furnishing and interior Asking rent: RM8,000 Description: Marc Residence on of Reapfi eld (Mont’Kiara) comes fully furnished with two TVs, design, this high-fl oor unit off ers Built-up: 1,927 sq ft Jalan Pinang is a fi ve-minute walk Malaysia Sdn Bhd washing machine and dryer, fridge, KLCC views. It is close to KLCC. Bedrooms: 3+1 from Suria KLCC and the KLCC LRT Tel: (018) 367 8638 bed, sofa and dining set as well as Agent/negotiator: David Hah Bathrooms: 3 station, and is also within walking Email: limproperties3678@ kitchen cabinets and wardrobe. of Metro Homes Sdn Bhd Description: Located next to Traders distance of . gmail.com Agent/negotiator: C K Lum of Tel: (016) 323 5153 Hotel and the KLCC Park, within There are a number of restaurants Henry Butcher Real Estate Sdn Bhd Email: [email protected] walking distance of Suria KLCC and nearby. Facilities include a Tel: (016) 302 8936 Mandarin Oriental hotel. Public barbecue area, gym, infi nity pool, Email: lumchoonkong@ transport such as cabs and LRT multipurpose hall, playground, henrybutcher.com.my stations are easily accessible. The tennis court and 24-hour security. unit has high ceilings, a spacious Agent/negotiator: See Chak Yan of layout and timber fl ooring in all Reapfi eld Properties (KL) Sdn Bhd the rooms. It is partly furnished, Tel: (017) 203 2689 with air conditioners, lighting, Email: [email protected] fans, built-in wardrobes, kitchen The Meritz Residence cabinets, blinds, curtains (including Idaman Residence Type: Condominium/ The Troika blackout curtains) and fridge. Type: Condominium/ serviced residence Type: Condominium/ Other items can be requested. serviced residence Tenure: Freehold Marc Residence serviced residence Includes a yard and utility area. Tenure: Freehold Asking price: RM1,590,000 Type: Condominium/ Tenure: Freehold Facilities include a sky gym, 25m Asking rent: RM5,500 Built-up: 1,388 sq ft serviced residence Asking price: RM1,990,000 infi nity pool with a splendid view, Built-up: 1,047 sq ft Bedrooms: 2 Tenure: Freehold Built-up: 1,349.00 sq ft playground, sky deck and concierge. Bedrooms: 2 Bathrooms: 3 Asking price: RM1,554,000 Bedroom: 1 Agent/negotiator: Lim Hern Gene Bathrooms: 2 Description: The unit is on a high Built-up: 1,050 sq ft Bathroom: 2 of Reapfi eld Properties Sdn Bhd Description: Exclusively for fl oor with bright natural light and a Bedrooms: 2 Description: Below market price. Tel: (012) 698 0833 expatriates, this high-fl oor unit good view. This furnished apartment Bathrooms: 2 Rare SoHo unit for sale. High Email: gene@reapfi eld.com is fully furnished. It has a view is in brand new and tiptop condition. Description: Marc Residence is fl oor and easy to rent. Troika is of Suria KLCC and is within Furnishings and extras include just a few minutes away from designed by Foster & Partners. The The Troika walking distance of the mall and air-conditioning, lightings, built-in Suria KLCC and the LRT. This is a unit has a huge master room with Type: Condominium/ LRT stations. Facilities include a wardrobes, curtains, dry kitchen corner unit with a spacious, nice ensuite bathroom and one powder serviced residence barbecue area, covered car park, with electrical appliances and layout and interior design. It comes room. It also has a pool view and Tenure: Freehold gym, playground, sauna, swimming washing machine and dryer. with one parking bay. Selling at comes with kitchen appliances. Asking rent: RM7,000 pool and 24-hour security. Agent/negotiator: Ms Wong RM1,480 psf (negotiable) and with Agent/negotiator: Daniel Built-up: 1,004 sq ft Agent/negotiator: Lucas Lim of Reapfi eld Properties a tenancy of RM7,500 per month. Lim of Zerin Properties Bedroom: 1 of Property Hub Sdn Bhd Tel: (012) 366 8006 Agent/negotiator: Christine Chua of Tel: (016) 656 9333 Bathrooms: 2 Tel: (016) 442 3039 Email: carolwong@reapfi eld.com Henry Butcher Real Estate Sdn Bhd Email: [email protected] Description: Nice, high-fl oor unit Email: [email protected]

FRIDAY MAY 22, 2015 • THEEDGE FINANCIAL DAILY EP12 PROPERTY | DEALMAKERS

PHOTOS BY HARIS HASSAN & KENNY YAP/THE EDGE PROPERTY

02

01 03 01. The fi rst class was conducted on May 18 at Hartamas Real Estate’s offi ce in Petaling Jaya.

02. Chan: The aim of EDRE is to help increase the number of real estate agents and lift the standard of Raising standards real estate agency practice.

03. Chuan: EDRE is more than just a qualifi cation; it gives negotiators Hartamas Academy collaborates with UCSI University the tools and knowledge to achieve the work professionally. to off er Executive Diploma in Real Estate

HARTAMAS ACADEMY HARTAMAS ACADEMY & UCSI BY E JACQUI CHAN [but] I think our inclusion of entrepreneur- oor service and knowledge of So, you think you can be a ial studies as one of the subjects of our pro- Path to becoming a real estate regulations have long real estate agent? gramme sets it apart. We feel that more than been the bane of qualified real half of registered real estate agents lack the registered estate agent You will need to have: estate professionals. entrepreneurial skills to become successful “I think one of the challenges • A great passion for real estate [business people]. facing the industry right now is • Good people skills “Another thing that sets our programme Executive Diploma in Real Pthe negative public perception of real estate • Strong sense of discipline and apart is that it is geared towards working pro- agents and negotiators. Th ere has been a lot self-motivation fessionals. One of its entry requirements is Estate by UCSI University of feedback from property buyers and sellers • A desire to learn a minimum of three years’ working experi- about the substandard service they receive • Being focused ence related to the real estate industry. Th is from negotiators,” says Hartamas Academy • Belong to a reputable organisation enriches the interaction and networking Resources Sdn Bhd director Christopher Chan. and have a good leader to guide you among students as most will be working Hartamas Academy, which was set up negotiators,” says Chan. Register as a probationary in 2011, is the education arm of Hartamas Th e fi rst intake has 70 students and the Real Estate (Malaysia) Sdn Bhd. Hartamas says UCSI Extension Sdn Bhd manager of fi rst class was conducted at Hartamas Real estate agent and also for Real Estate was established in 1996 and has business and operations, Sunny Chuan. Estate’s headquarters on May 18. the Test of Professional a workforce of 250 people based in four of- UCSI Extension is a wholly owned sub- “We want to be professional with the fi ces in the Klang Valley. sidiary of UCSI Group and a training pro- number of people we accept into each intake Competence In a bid to raise professionalism in the in- vider registered with the Malaysian Human to keep the quality and standard of the pro- dustry, Hartamas Academy is collaborating Resources Development Fund. It helped gramme. Th ey fi rst have to abide by the entry with UCSI University to off er an Executive develop, manages and markets EDRE. requirements. We don’t want to do a class Diploma in Real Estate (EDRE). EDRE is ap- Hartamas Academy signed a memoran- of 70; that’s a tuition centre. We are looking 2 years of post-qualifying proved by the Malaysian Qualifi cations Agency dum of understanding with UCSI in 2013. at 35 students per class, which will enhance practical training (MQA) and accredited by the Board of Valu- Chan believes there is a huge need for a pro- engagement and make it comfortable for ers, Appraisers and Estate Agents (Bovaea). gramme like EDRE, noting that there are only the lecturer to [provide students a measure (submission of work diary) Hartamas Academy is one of the Bo- 2,455 registered real estate agents in Malaysia. of individual attention],” explains Chuan. vaea-approved training providers for the “Of this number, I’d say only about 1,800 Classes will be conducted at both UCSI mandatory two-day negotiator certifi cation are active. We actually have the lowest num- University in Cheras and the Hartamas Acad- course. Th e compulsory registration of real ber [of active members] among profession- emy offi ce in Petaling Jaya. Th ere will be two estate negotiators and use of an identifi ca- al bodies. By comparison, there are 10,990 evening classes of three hours each per week tion tag were mandated in 2013 to curb the engineers, 40,000 doctors, 16,049 lawyers on weekdays. Submission of record of activities of illegal agents. and 80,000 insurance agents. “It’s a very customer-centric programme. experience, practical task According to Chan, EDRE is in line with “About 25,000 negotiators have undergone For negotiators, a lot of business tends to Hartamas Academy’s vision to provide the mandatory negotiator certifi cation course. come in during the weekends, so weekdays and attend a professional much-needed education in the industry. Not all will be active but 70% to 80% will most will be better for them,” says Chuan. Th e good long-term working relationship likely be, and they will want to take the next While the response has been good, Chuan interview between Hartamas Real Estate and UCSI Uni- step towards becoming a real estate agent,” stresses that it is still a challenge to get negotia- versity led to the idea for the programme several says Chan. “We also want to help negotiators tors to see education as more than just exams. years ago. Its aim is to help increase the num- become consultants rather than just salesmen.” “We have to change this mindset. We’ve ber of real estate agents and lift the standard found that the fi rst question they ask is not Register as an estate agent of real estate agency practice, explains Chan. Setting itself apart the cost or content of the programme, but “EDRE is more than just a qualifi cation; it Th ere are already several real estate diploma its duration. It’s always about doing things with the board gives negotiators the tools and knowledge to courses in the market such as the Diploma in as fast as possible. We have to replace the achieve the work professionally. We want to Estate Agency by the Malaysian Institute of word ‘studying’ with ‘learning,’” says Chuan. develop a holistic premier programme that Estate Agents and Open University Malaysia, Ultimately, both Chuan and Chan concur addresses the current needs of the industry, and the Diploma in Estate Management by on the vision of the programme: to form a which includes the law, processes and even Imperia Institute of Technology. community and fellowship among students communication. It’s a one-stop solution,” “We respect all existing training providers and to represent the industry professionally. FRIDAY MAY 22, 2015 • THEEDGE FINANCIAL DAILY FOREIGN | PROPERTY EP13

PICTURES FROM SAVILLS

Lady Violet’s home, anyone? Manor in Downton Abbey TV series put on the market

BY WONG KING WAI of a winding country lane on the fringe of a er Isabella and his son Edward of Wood- nearby village, discreetly positioned for pri- stock, known as the Black Prince, who bred KUALA LUMPUR: Fancy living in a historic vacy and security,” says head of Savills Wey- horses. Henry VIII is said to have stayed manor featured in one of the most popular bridge Simon Ashwell, in a press statement. there during his childhood; he granted it TV series to come out of the UK? Savills has “Initially, we’ll be looking for a buyer for to Katherine of Aragon after he divorced listed Byfl eet Manor in Surrey — Lady Violet’s the main house, to give him or her the option her. Queen Elizabeth I was known to have home in hit TV series Downton Abbey — for to include the four additional lots, allowing visited in 1576. Byfl eet Manor’s last royal £3.95 million (RM22.18 million). a buyer to purchase everything currently for owner was Queen Consort Anne of Den- Th e Grade II-listed manor has 8-bedrooms sale in its entirety.” mark, wife of King James 1. and four reception rooms. It sits on 19 acres Th e history of Byfl eet Manor stretches The present Byfleet Manor was built of land. In addition to the main house, there back to the seventh century and was fi rst around 1686. It is located just over 20 miles are four other lots available for purchase: recorded in 1086 in the Domesday Book. It from the centre of London and 15 miles from three additional residential dwellings and was owned by the Crown for over 300 years Heathrow Airport. Savill’s expects interest a development plot. during which it was destroyed and rebuilt. in the sale of the Byfl eet Manor estate “to “For all its fame, Byfl eet Manor is actu- King Edward I and II stayed frequently come from all quarters, including interna- ally located in an idyllic location at the end at Byfl eet. Edward III gifted it to his moth- tional interest too”. FRIDAY MAY 22, 2015 • THEEDGE FINANCIAL DAILY EP14 PROPERTY | GARDEN

03

05

04

02 Garden in a jar

Terrarium enthusiasts off er some tips to get you started

06

TEXT AND PHOTOS BY CARMEL DOMINIC popular among those staying in apartments. construction sand or miniature toy animals Th e Edge Property caught up with Dominic such as a ladybug or an armadillo. Th ese give he world’s oldest terrarium is 55 Song, owner and founder of Wicked Plants the terrarium a personality and create a scene. years old this year. Owner David and an avid terrarium enthusiast, and Nabil Beach sand is not suitable as it contains salt Latimer first planted some spi- Zainol, marketing manager of November that may not be conducive for plants. derworts inside a 10-gallon glob- Culture, a terrarium hobby and accessories ular bottle in 1960 and they have shop. Th ey talk about wet and dry terrariums CARE 01 since grown to fill the container and give tips on making and maintaining a Place your terrarium near sunlight if you are 01, 02 and 03: Song’s one-year-old Tby surviving wholly on its own ecosystem of terrarium in tropical weather. using cacti. Water it once a week, and not too Monkey cup, and other wet terrariums. recycled air, nutrients and water. Latimer has much. Avoid places with continuous direct only opened it once, in 1972, to add water. Let’s get started sunlight because the heat from the glass 04 & 05: A variety of dry terrariums. A terrarium is a small glass enclosure that You need to decide on either a wet or dry ter- will warm the soil instead of keeping it cool contains layers of soil, stones or gravel, moss, rarium, as they require diff erent raw materials. and moist. 06: Nabil demonstrating how to place water and small plants. It is normally created Pick the plant and then the container to match the cactus in the bowl. to be a small and self-contained ecosystem. it. An old aquarium, half-cut bottles, cognac Wet terrarium Th ese pretty miniature gardens are especially glasses, bell jars, apothecary jars or even basic THE BASE mason jars make interesting-looking terrari- For a wet terrarium, Song chooses medium ums. You are limited only by your creativity. gravel, lava rock and/or clay balls for the base. Rocks might scratch the glass because they Dry terrarium are relatively heavy, hence clay balls might THE BASE be more suitable. Nabil recommends gravel for its good drain- age properties. Th is is because the plants he THE LAYERS uses in dry terrariums are mini cacti and grav- Th e types of moss for a wet terrarium diff er el is able to hold any extra water that would from those used for a dry one. Do some re- otherwise be absorbed by the top soil, which search on which suits your terrarium best. would then rot the roots. Make a hollow in You can consider using coco peat mixed the centre of the gravel base for the plant. with perlite. Coco peat consists primarily of the coir fi bre pith or coir dust obtained from THE LAYERS coconut husks after removing the long fi bres. For the second layer, Nabil uses small piec- Perlite is a type of mineral that ensures the es of broken charcoal that function as an soil is not too dense for the plants. air purifi er in the terrarium. Th e amount of If you’re using carnivorous plants for your charcoal needed depends on the size of the terrarium, coco peat is most suitable because terrarium. Spread about an inch of garden these plants do not thrive in fertilised garden soil over them while maintaining the hollow soil. Th e last step is to place the plant in the ter- in the centre of the gravel base. If you use or- rarium and fi ll it with just enough water to cover ganic soil, there is no need to use charcoal as the base soil. For decoration, you can artfully it comes mixed with charcoal. use a piece of wood to give it a natural look. Remove the cactus from its pot. Clean its roots completely of soil using a paintbrush. CARE Very gently place the cactus in the hollow of Song insists that all terrariums should have the gravel base and embed its roots in it. Add at least six hours of sunlight daily, especially more soil if necessary. wet terrariums. If your terrarium is in a closed Th en comes the moss. Th is can be used jar, sunlight will promote condensation and as a decorative item or to absorb any extra photosynthesis that will allow the plant to water. How the moss is placed depends on create an ecosystem and thus thrive on its the plant used in the terrarium. own. Do some occasional housekeeping; if Now, for the fun part. Add colour to the ter- the plant grows too big for the jar, transfer it rarium with coloured pebbles or small stones, into a bigger container.