TEP 2 FRIDAY OCTOBER 7, 2016 • THEEDGE FINANCIAL DAILY NEWS HIGHLIGHTS from TheEdgeProperty.com

PICTURES BY TheEdgeProperty.com confi dent that it will be a good time Implementation to introduce this development,” said of road pricing in KL executive chairman Datuk BA Low. “However, details such as prices and city centre after MRT built-ups are still being fi nalised.” Line 1 starts “For this development, we are City Hall (DBKL) targeting young professionals will be implementing a congestion who live in the area. The two-acre charging system in the city centre (0.81ha) site is situated in the heart Putrajaya in after Mass Rapid Transit (MRT) Line tails. We have done a few engage- of Pantai Dalam,” he added. discussion with EPF 1 commences operations. ments with the people not only on DBKL is looking into the details, pricing, but more on how to trans- Sluggish property for higher housing but the pricing for each vehicle has form our public transportation in withdrawal plan yet to be fi nalised, said Nik Mastura Kuala Lumpur,” she said. market to recover The federal government is studying Diyana Nik Mohamad, senior deputy The fi rst phase of MRT Line 1, be- only in 2018 the possibility of allowing fi rst-time director at DBKL’s Urban Planning tween and the Seman- The current property market slow- homebuyers to withdraw more mon- Department. tan station in Damansara Heights, down may only recover in 2018 and ey from their Employees Provident “We will implement (road pric- is scheduled to begin operations in the market environment may dip Fund (EPF) account to finance af- ing). That will be the last initiative to December, while phase two between further before that. fordable house purchases. reduce congestion in the city. the Semantan Station and “Nothing much has changed about “That is a very good suggestion,” “We are still looking into the de- will be operational in July 2017. the property market recently, at least described Minister of Finance II Da- not the external factors such as con- tuk Johari Abdul Ghani, as it could sumer sentiments and lending poli- allow EPF members to tap into their Currently, house buyers can with- be the closest sizeable township to cies,” said Malaysian savings for their fi rst home. draw up to 30% from their Account Pengerang, one of the region’s largest Institute of Estate “We are in discussion with EPF in 2 in the EPF to fi nance their house hubs for oil and gas, petrochemical, Agents (MIEA) past regard to the suggestion,” he said, purchases. oil storage and trading activities. The president K Soma Th eEdgeProperty.com but no decision has been made yet. project will also be Astaka Padu’s next Sundram. Managing Director/Editor-in-Chief “We wanted to help fi rst-time home- Astaka Padu and major project after its fl agship devel- “As we know, Au Foong Yee buyers bridge the gap between loan and Saling Syabas to opment, One Bukit Senyum, which whatever that goes EDITORIAL house prices,” Johari told pressmen jointly develop Bukit will be the new administrative and down must come Editor Lam Jian Wyn after offi ciating the National Chamber commercial hub of Johor Bahru. up but with the property market, Contributing Editor Sharon Kam of Commerce and Industry of Pelali project it doesn’t happen overnight — it Deputy Chief Copy Editor roundtable session themed “Malaysian Astaka Padu Sdn Bhd, an indirect takes time. So I think 2018 might be James Chong Ancubic to launch Senior Copy Editor Economy Today — The Challenges, subsidiary of Astaka Holdings Ltd, the turning point, but until then I Shanthi Murugiah Vulnerability and Resilience; and the has entered into a joint venture with RM700 mil project think the market will continue to be Writers Rachel Chew, Tan Ai Leng, Remedial Measures” on Oct 4. Saling Syabas Sdn Bhd to develop a in Pantai Dalam where it is now, if not worse,” he told Natalie Khoo, Shawn Ng, Lum Ka Kay Art Director Sharon Khoh Having said that, he added the 258.48-acre township in Pengerang, Boutique developer Ancubic Capital TheEdgeProperty.com. Design Team Nik Edra, move should only be limited to fi rst- Kota Tinggi, Johor Bahru. Sdn Bhd plans to launch an apart- However, this may be a good time Nurul Aida Mohd Noor time buyers and those who are buy- Astaka Padu and Saling Syabas ment project worth RM700 million for foreign property investors here, For New Launches/Events/ ing aff ordable homes. will jointly develop the land located in Pantai Dalam, tentatively at the noted MIEA deputy president Eric Lim. Press Releases/News Tips “Further, should the house buyer close to the Pengerang oil and gas end of next year. “The situation will probably persist email: [email protected] sell the house later, (certain part of) hub in southern Johor under Bukit “We foresee the local property until early next year, if not mid-2017. It Tel: 03-7721 8211 Fax: 03-7721 8280 Email: [email protected] the proceeds have to be returned to Pelali Properties Sdn Bhd where Asta- market picking up between the end of also depends on Budget 2017 that will their EPF account (based on the extra ka Padu holds a 51% stake and Saling next year and early-2018, and we are be announced soon,” he added. ADVERTISING & MARKETING quantum they withdrew),” he added. Syabas holds the remaining 49%. Head of Marketing and Sales In a statement on Oct 5, Astaka Sharon Chew (012) 316 5628 How do I get past issues of this weekly pullout? Senior Account Managers Padu said the Bukit Pelali project will Cecilia Too (012) 319 7666 Go TheEdgeProperty.com Jayne Law (016) 929 3309 trending to download for free Account Managers Jayremy Sim (011) 1669 6039 now Jocelyn Poo (012) 611 5626 Marketing Support & Ad Traffi c Madeline Tan (03) 7721 8218 email: [email protected] If you have any real estate-related events, email us at [email protected]. Email : [email protected] LAUNCHES + EVENTS Events listed here will also appear on TheEdgeProperty.com.

NEGOTIATOR ADVISORY SERVICE Senior Manager Elizabeth Lay Setia Eco Park Open Day Senior Associate Stannly Tan Tropicana Corp Bhd is hosting subsidiary of Masteron Group, Associate Karen Wong Date: Oct 9 (Sun) a nostalgic celebration of is launching Koi Suites at Time: 10am to 6pm traditional childhood games . The 7.9-acre leasehold For enquiries and listings email: [email protected] Venue: Setia Eco Park Sales including hopscotch, congkak, project comprises four blocks GL: (03) 7721 8175/ 8172 Gallery, Setia Eco Park, seven stones and marbles at off ering 1,283 units of serviced Email: [email protected] Seksyen U13, the above property galleries. apartments. The fi rst 100 Contact: (03) 3343 2228 registered visitors of the event will Bumi Mapex 2016 TheEdgeProperty.com pullout is S P Setia Bhd is organising an receive RM50 shopping vouchers. published by The Edge Property Sdn Open Day fi lled with interesting Date: Oct 7 to 9 (Fri to Sun) 12, Jalan Pinang, Kuala Lumpur Bhd. It is available with The Edge activities including a fruit Time: 10.30am to 7pm Contact: (012) 229 2779 Kazen Design Home preview @ Financial Daily every Friday. The Saujana Puchong pullout is also distributed at more fi esta, caricature drawing, Venue: Shah Alam Convention Jerrytan Residential Pte Ltd and than 200 offi ces, shopping complexes, bike ride and more. An actual Centre (SACC), No 4, Jalan Mondrian Real Estate Services Date: Oct 8 and 9 (Sat and Sun) condos, medical centres, F&B outlets 2-storey bungalow unit with Perbadanan 14/9, Shah Sdn Bhd are bringing The Time: 10am to 5pm and LRT stations in the Valley. a built-up of 3,523 sq ft will Alam, Nassim to Malaysian investors. Venue: Kazen II Sales Gallery, You can also download it for free at www.TheEdgeProperty.com also be open for viewing. Contact: (03) 7803 2978 The Nassim is a 5-storey Jalan SP 8/3A, Saujana Puchong The Real Estate and Housing residential condominium Contact: (016) 227 1508 Tropicana’s Eat, Play and Bond Developers’ Association Malaysia’s situated along Nassim Hill Ancubic Group is having a Th e Edge Malaysia Date: Oct 8 and 9 (Sat and Sun) (Rehda) inaugural Bumiputera in District 10, Singapore and preview for its 3-storey Kazen @ EDITORIAL Time: 11am to 5pm Property Expo (Bumi Mapex) is developed by CapitaLand Saujana Puchong. The preview Editor-in-Chief Azam Aris Venue: Tropicana Metropark will be held this weekend. Residential Singapore Pte Ltd. also features an autograph CORPORATE Property Gallery, Lot 38515, Besides showcasing properties session with Rio Olympics 2016 Chief Operating Offi cer Lim Shiew Yuin Jalan Delima 1/1, Taman from various developers, it will Pagoda Canggih unveils Koi medallists Goh Liu Ying, Chan ADVERTISING & MARKETING Chief Commercial Offi cer Perindustrian Teknologi Tinggi also feature talks by property Suites @ Puchong Peng Soon and Pandelela Rinong. Sharon Teh (012) 313 9056 Subang, Subang, Selangor experts such as Faizul Ridzuan, Date: Oct 8 and 9 (Sat and Sun) General Manager Mohd Ali Majis, Dr Azizul Azli Time: 10am to 5pm Kingston Low (012) 278 5540 Senior Sales Managers Date: Oct 15 and 16 (Sat and Sun) Ahmad and Ahyat Ishak. Venue: Masteron Grand Pavilion, Fong Lai Kuan (012) 386 2831 Time: 11am to 5pm 2G & 3G, Pusat Komersial Koi, Gregory Thu (012) 376 0614 Venue: Tropicana Gardens The Nassim Exhibition Jalan Puchong Batu 13 1/2, Michael Tan (012) 213 0252 Peter Hoe (019) 221 5351 Property Gallery, No 52581, Date: Oct 8 and 9 (Sat and Sun) Puchong, Selangor Creative Marketing Jalan PJU 3/21, Tropicana Time: 11am to 7pm Contact: (03) 8060 2228, Chris Wong (016) 687 6577 Indah, Venue: Grand Hyatt Kuala Lumpur, (013) 331 3655 Head of Marketing Support & Ad Traffi c Contact: (03) 7710 1018 Grand Residence 103, Level 1, No Pagoda Canggih Sdn Bhd, a Lorraine Chan (03) 7721 8001 Email: [email protected] FRIDAY OCTOBER 7, 2016 • THEEDGE FINANCIAL DAILY TEP 3 NEWS Top real estate agents, negotiators and fi rms recognised at NREA 2016

PATRICK GOH / TheEdgeProperty.com jor role to play in supporting the BY LUM KA KAY Henry Butcher’s growth of the nation, particularly Lim (middle) in enhancing the nation's institu- KUALA LUMPUR: Th e annual Ma- receiving tional quality. laysian Institute of Estate Agents the Lifetime "Apart from the economic aspect (MIEA) National Real Estate Achievement of stimulating growth, the profes- Awards (NREA) saw more than 20 Award from Johari sion is expected to drive transpar- top real estate agents and negotia- (left) and Kho ency and accountability which are tors in the country receive awards (right). necessary ingredients to foster an at the awards gala dinner held at environment where businesses Sime Darby Convention Centre in could thrive and progress amid sus- Kuala Lumpur least weekend. tained economic growth," he said. Minister of Finance II Datuk Jo- Meanwhile, Kho, in his speech, hari Abdul Ghani officiated the had also urged real estate agents awards gala dinner. Also present to continue their hard work and was Board of Valuers, Appraisers eff orts so that they continue to do and Estate Agents (BOVAEA) presi- well despite the current volatile dent Datuk Faizan Abdul Rahman, property market. who was accorded the MIEA Hon- “The underlying sentiments orary Member Award, which has remain strong which lead us to only been given to 10 recipients to fessional fees in 2015. “Th is is an award that is award- ing Th eEdgeProperty.com as it is conclude that the property market date in MIEA’s 40-year history, said Th e Top Real Estate Firm Award ed by my peers. One cannot ask for extremely user-friendly. I can safe- conditions are cyclical. Property is MIEA president Erick Kho. was won by Hartamas Real Estate a higher honour than this. I hope ly vouch that its simple and clear always a long-haul investment,” Among the notable award win- Sdn Bhd while the Top Real Estate everyone in the real estate industry functions could cater to anyone he said. ners this year were Elvin Fernandez Negotiator Award went to Carol Yong can keep their passion,” said Lim who does not possess comprehen- NREA organising chairman Eric from Khong & Jaafar Sdn Bhd, Mu- Ching Mei from Cornerstone Realty. in his acceptance speech. sive technological knowledge,” he Lim, in his speech, said Malaysia’s nirah Mohammad from Homefi eld The Lifetime Achievement The winner of the MIEA-Th- told Th eEdgeProperty.com. healthy economy and key real es- Real Estate Sdn Bhd and Juliana Award was presented to Lim Eng eEdgeProperty.com Top Online TheEdgeProperty.com also tate development projects have Teh Beng Choo from Mapleland Chong, the founding director of Real Estate Negotiator Award was sponsored The Most Innovative opened up new markets for the Properties, who each won the Mil- Henry Butcher Malaysia Sdn Bhd, Joseph Ding of Tech Realtors Prop- Firm Award which went to Cor- industry. Th is has created a push lion Dollar Roof Top Award, which for his contribution to the growth erties Sdn Bhd. nerstone Realty. for improved services and stand- is presented to estate agents who and development of the real estate “I appreciate the award. I also In his opening address, Johari ards from real estate agents and have collected RM1 million in pro- agency industry over the years. appreciate the convenience of us- said real estate agencies have a ma- negotiators.

Tadmax expects good response to Mizumi Residences in

BY RACHEL CHEW rector and the managing director to roof top and a jogging track that Wawasan Metro Bina Datuk Gan surrounds the facilities fl oor,” said KEPONG: Tadmax Resources Bhd Seong Liam is confi dent of the strong Jayden. Besides the jogging track, expects good take-up for its soon- take-up given its location, pricing there are over 50 facilities within this to-be-launched condominium pro- and what he described as “unbeat- development, such as a swimming ject, Mizumi Residences in Kepong. able” lake views. “Th is could be the pool, lake-view Jacuzzi, yoga deck, Th e project is located at Jalan Metro last lakefront project that you can four badminton courts, basketball Perdana Barat and adjacent to the get in Kuala Lumpur,” he said, add- court, BBQ areas, function hall, sau- Middle Ring Road 2 (MRR2). ing that Mizumi in Japanese means na and fi ve-tier security. Developed by Wawasan Metro lake. Th e lakefront project is located “We will also have private ac- Bina Sdn Bhd, which is a whol- a stone’s throw away from the Ke- cess to Metropolitan Park. Resi- ly-owned subsidiary of public listed pong Metropolitan Park and some dents will be given an access card company Tadmax Resources since 50% of the units will have lake views. and they can enter the park via July this year, Mizumi Residences is Mizumi sits on a fi ve-acre lease- our secured private access,” said a 3-block condominium located be- hold residential-titled site and has Seong Liam. side the Kepong Metropolitan Park. a gross development value (GDV) Also present at the interview Plantation player Tadmax Re- of RM680 million. Each tower has Mizumi Residences is a mid-range was Tadmax Resources executive sources ventured into the property 42 storeys and the entire project lakefront development in Kepong RM470,000 and below. Th e selling director and Wawasan Metro Bina development and power generation houses 1,512 units in total. At least price is from RM387,000 onwards projects director Aldillan Anuar. industries fi ve years ago. Th e com- 80% of them are priced around to slightly more than RM500,000, “DBKL has confi rmed the con- pany is now looking to dispose its MOHD IZWAN MOHD NAZAM / TheEdgeProperty.com or an average price psf of RM450. struction work of the Jalan Metro plantation business to focus more Th ere are three layout designs to Perdana Barat and MRR2 linkage. on property development and pow- choose from, 901 sq ft (3 bedrooms, We and a few developers have al- er generation. 2 bathrooms), 932 sq ft (3+1 bed- ready received letters of contri- On July 22, Tadmax Resources rooms, 2 bathrooms) and 1,127 sq bution requirement, and Tadmax bought the remaining 45% stake in ft (3+1 bedrooms, 3 bathrooms). Resources is ready to do our part,” Wawasan Metro Bina for RM42 mil- Seong Liam said the project is Aldillan said. Other than the link, lion to kick-start its property business. aimed at starter families and young the Metro Prima MRT station un- Wawasan Metro Bina director couples. “We don’t want to build der construction now is a mere Jayden Gan told Th eEdgeProperty. what we want to build but we de- 500m away from Mizumi Resi- com that only two blocks off ering sign and build what the locality dences. about 1,000 units are open for regis- and market want. I think in Kepong Moving forward, Tadmax Re- tration and some 2,000 registrations and nearby areas, such mid-sized sources is looking to acquire 3- to have been received so far. homes are what many need.” 5-acre plots for high-rise develop- “The official grand launch is There are seven floors of car ments around Kuala Lumpur. “We tentatively set for December,” parks and every unit comes with should be concluding some deals Jayden said. Construction is ex- two car park bays. Level eight will soon and hopefully next year we pected to start next year. From left: Jayden, Aldillan and Seong Liam with the scale model of be the facilities fl oor. can introduce something new,” Tadmax Resources executive di- Mizumi Residences. “We also have a garden on the Seong Liam said.

he property market Bhd, Omron Malaysia Sdn Bhd, continues to be slug- Tamura Electronics (M) Sdn Bhd gish overall but this and Freescale Semiconductor Ma- could also be a good laysia Sdn Bhd. time to look for deals “Houses close to the in certain property Free Trade Zone have monthly Thotspots. Looking at Selangor, in rentals ranging from RM3,000 to particular, one may be surprised RM4,000. If the owner renovates that there are several unassuming the house to increase the rooms areas that may off er investors some and if they come with better fa- good returns. cilities — such as en-suite bath- Data collated by the Nation- rooms and kitchen, the property al Property Information Centre could fetch a monthly rental of up (Napic) showed that in 2015 there to RM6,000,” adds Ng. were 22 areas in Selangor that had Huttons One World Real Estate landed homes with average selling Group negotiator Daneal Eoon prices of above RM1 million but concurs that properties in mature enjoyed a year-on-year capital ap- areas like Seksyen 17 and SS3 in preciation of over 10%. Petaling Jaya are sound invest- From Napic’s list, Th eEdgeProp- ments as these areas offer various erty.com shortlisted the top 10 ar- amenities and good accessibility. eas with the highest capital appre- “Besides Petaling Jaya, these ciation recorded. Th e appreciation are also the main reasons prop- rate ranged from 11.2% to as high erty buyers look at as 31.9%. as well. Th e top three locations were: USJ “Besides, compared with simi- 5 near Subang Jaya, Taman Villa lar landed properties in new town- Putra in Sungai Buloh and Sunway ships, prices in these areas are still Damansara in Petaling Jaya. Th e other areas that made up the top 10 were Seksyen 17 in Petaling Jaya, Cahaya Heights SPK in Shah Alam, SS1 and SS3 in Petaling Jaya, Taman TTDI Jaya in Shah Alam, Bandar in Shah Alam and USJ Heights. Mature but sexy “It surprised me to see the older areas, such as SS1, SS3, TTDI Jaya and Cahaya Heights SPK, mak- ing the list as these places are not the property investment hotspots which we read in the news,” Kim Realty Sdn Bhd CEO Vincent Ng tells Th eEdgeProperty.com. He notes that these areas have similarities. For one, they are mostly mature and old areas with estab- lished amenities and good acces- sibility to highways. Some areas also off er good rental investment opportunities. He cites SS3, which is located opposite the Sungai Way Free Trade Industrial Zone, as an area which off ers good opportunities to owners to turn their homes into rental ac- commodation for factory workers. There are several technolo- gy and electrical manufacturing factories located in the zone, in- cluding Western Digital (M) Sdn see more growth potential after Tropicana Metropark’s develop- ment comes up,” she adds. The 88-acre Tropicana Met- ropark is an integrated township developed by Tropicana Corp Bhd. Th e developer has launched three phases including Pandora serviced residences, Paloma ser- viced residences and Courtyard Villas as well as the commercial development, Metroplex. Meanwhile, another housing area in the Top 10 list, Taman Villa Putra in , Sun- gai Buloh is also gaining growth momentum due to its proximity to many Petaling Jaya hotspots with about a 15-minute drive to , and (TTDI). Th is gated-and-guarded town- ship’s demand could be supported by the nearby working population as it is located near to Hospital Sungai Buloh as well as SB Jaya and Putra Industrial areas, says Lim. Weakening price growth in 1Q2016 Although the houses in these 10 ar- eas have achieved high capital ap- preciation over 2015, their current performance may be hampered by the current poor market sentiment over the sluggish economy. Some properties in the Top 10 areas have seen selling prices considered reasonable especially commercial developments with to 6km) benefi ts TTDI Jaya as the dipping in 1Q2016. For instance, for those who are already comfort- a growing working population working population could sup- TheEdgeProperty.com data able or familiar with Petaling Jaya helped to maintain demand,” port the demand for houses and showed that the average selling or Subang Jaya,” he adds. says Eoon. accommodation there. price of double-storey detached He notes that new commercial “According to my observation, homes in USJ 5 (based on two developments near these mature Areas with more aff ordable over 90% of property buyers in transacted deals) was down at housing areas also spur property choices Shah Alam are looking for own RM2.5 million in 1Q2016. demand as investors anticipate CBD Properties real estate negoti- stay or for their children, not so Other areas that have seen price prices to continue climbing. ator Shermine Lim says residential much for investment as the price dips in 1Q2016 include Sunway Da- For instance, Mah Sing Group’s property prices in Petaling Jaya have growth is slower than other places mansara, Seksyen 17, SS3, Bandar Icon City mixed development in reached exorbitant levels, forcing such as Petaling Jaya and Subang Setia Alam and USJ Heights. is near to SS1 and SS3 homebuyers to search for houses in Jaya,” she explains. Acrehill Properties real es- while Seksyen 17 is located between other mature areas with more rea- tate negotiator Michelle Lee says the Phileo Damansara commercial sonable pricing, such as Shah Alam. New developments benefi t owners of landed homes are be- centre and Damansara Intan as Hence, some areas in Shah Alam older areas coming more realistic in line with well as near to Seksyen 13 and 14’s or Sungai Buloh which are not too For investors, Lim from CBD current market conditions and commercial and industrial areas. far from Petaling Jaya have attract- Properties sees good potential sellers have lowered their ask- “Being surrounded by many ed the attention of homebuyers in Subang Jaya’s properties as the ing prices. large population there could sup- For instance, double-storey ter- port price growth in the long term. raced houses in Sunway Damansara and investors. Among the popular She says there are some investors that have seen their average selling areas are , Bandar who are looking for houses in USJ price exceed RM1 million will fi nd it Setia Alam, TTDI Jaya and Taman and Subang Jaya for rental yield as hard to sustain their price uptrend Villa Putra. there is strong demand from stu- as asking prices have dropped back “Bandar Setia Alam has attracted dents as well as hospital staff . to around RM900,000. buyers who are looking for a new “USJ 5 is one of the most in-de- “Nevertheless, owners will still development with a good design mand areas in the Subang Jaya make a profit as most of them concept as well as gated-and-guard- and USJ areas as it is located near had purchased their properties ed elements,” she explains. guarded developments as well more than 10 years ago at a low- She notes that Cahaya Heights as bungalow projects, where the er price of about RM300,000 to SPK has not seen much move- more affluent reside,” she adds. RM400,000,” she explains. ment in recent years in terms of Lim notes that USJ Heights, Similarly, in other areas such sales, but it is nevertheless “a nice which is located adjacent to in- as USJ 5 and USJ Heights, owners place to live”. dustrial areas, may not be as at- are willing to lower their asking “The leasehold title may deter tractive as USJ 5 situated about prices. older investors but this is not a 5km away although it still off ers “Now is the best time for fi rst- concern for most young buyers,” a nice living environment within time owners to purchase a house she adds. the project. or existing property owners to On TTDI Jaya, Lim says its “USJ Heights’ surrounding upgrade their house. But for in- proximity to the Hicom-Glen- environment has an impact on vestment purposes, I would be a marie Industrial Park (about 5km demand, but USJ Heights will bit more cautious,” Lee says. TEP 8 FRIDAY OCTOBER 7, 2016 • THEEDGE FINANCIAL DAILY LEGAL

3. WHO should borrow? The 4Ws and 1H Although it seems obvious that the person who buys should be the one who borrows, there are some strate- gic considerations involved. in fi nancing your Th e borrower can be an individ- ual, a group of individuals, a Sdn Bhd, a Bhd or even a Limited Liabil- home purchase ity Partnership (LLP). It could also be a borrower with the homebuyer providing a third party security in terms of charging the home purchase 1. WHERE to get financing? to the bank. Th e loan approval, the margin of First and foremost, you need to have fi nancing, the loan tenure and the some monies in your pocket before rate of interest are all dependent on you commit to any home purchase. BY CHRIS TANN the profi le of the borrower. You need to provide for the initial Typically, joint borrowers with 4. WHICH type of financing? booking, deposit, professional fees, multiple incomes would have a bet- stamp duties, property valuation fees, ter chance of loan approval than a Th ere is no such thing as a standard early redemption penalty and eff ec- etc, depending on whether you are the very early Skim Rumah Pertam- single income single borrower. An home financing package as there tive lending rate. Take your time to buying from the housing developers aku to the more recent MyDeposit income-earning husband would be are many diff erent off erings in the understand the unique features of or the secondary market. It is almost scheme announced last year. welcomed as a borrower in a case market to cater for various needs. the housing loan packages on off er impossible to get 100% fi nancing to Banks are the obvious choice to where the home is purchased un- For a start, there are conventional and select one that is most suited to fund your entire home purchase. take care of the rest of your home der the name of the housewife with loans as well as Islamic fi nancing your unique profi le. Your initial monies can be your fi nancing requirements. However, no income. Th e person with better that operates on syariah compli- Pay attention to the various con- own savings, a friendly loan from housing loans are also available from fi nancial standing could either be ance principles but available to all ditions for the disbursement of the friends and family, your advance sal- insurance companies, licensed fi - one of the borrowers or one of the including non-Muslims. loan sum for little things like opening ary from your employer, a personal nance companies, licensed money guarantors. If the borrower is a Sdn Within the conventional sphere, of a new bank account which could loan from the co-operative that you lenders as well as the building society, Bhd, Bhd or LLP, it is also normal for pay attention to the details in things delay your progress in completing the are a member to, or even the per- although the interest rates, margin the directors or partners to give joint like term loan, fl exi, overdraft, daily home purchase as that might poten- mitted withdrawal from your EPF of fi nancing, loan tenure, loan re- or several guarantees for the loan. rest interests, principal reduction, tially cause late payment interests. contribution that is allowed for fi rst- payment and requirements are all Using a company to buy a home for home purchases. If you are qualifi ed, unique and not the same as banks. residential purpose would defi nitely you might want to explore the vari- If you are a civil servant, you can mean a lower margin of fi nancing 5. HOW to select your financing package? ous schemes announced under the even apply for a housing loan from that requires the purchaser to have Budget over the last few years from the government. a larger sum of initial monies. If you are buying from the housing repayment pattern as well as your ob- developer, most of the time there will jective in your home purchase to en- 2. WHAT to look for in financing? be a panel of banks that are ready able your best selection of the home to consider your loan application fi nancing package. Th ere is no best It is always a good practice to look shortlist properties that are with- If you are buying from the second- strictly based on your profi le. If you loan package but there is certainly for fi nancing before you commit to in your aff ordability and credibility ary market, do not take too long to are buying from the secondary mar- one package that works best for you. a home purchase. Th ere are many with the bank. Otherwise, you might shop for the best fi nancing package as ket, there is a need to have a property As for the need for mortgage in- variances of home fi nancing pack- misinterpret your own credibility and you have the normal transaction time valuation report done on a case-to- surance like MRTA/MLTA, it is up to ages and you can always shop early end up disappointed. of three months to pay the balance case basis to satisfy the lending bank your discretion unless it is prescribed to identify one that suits you. Pay a visit to Bank Negara and purchase price or you are subjecting along with your profi le as a borrow- by the loan package as a condition First, you need to get your set of conduct a check on the CCRIS sys- yourself to late payment interest or er. You need to also approach the for approval. Th e premium involved proof of incomes ready so that you tem to help ensure your intended are even at risk of a termination with banks on your own, although the could actually be part of the loan can start checking with the banks on loan application is smooth without forfeiture of your deposit. If possible, real estate agents as well as your law- sum or you can choose to pay with the indicative range of loan amount any unnecessary remarks in your re- sign your set of loan agreement as yers might give you professional ref- your own fund. Th ere are pros and that they are ready to grant you for cord. PTPTN is another marker too soon as you have signed your sale erences within their network. cons in mortgage insurance and it your intended home purchase. Th is for those of you who have received and purchase agreement, preferably Consider your unique needs in fi - is certainly worth considering for a is extremely helpful to assist you to a prior study loan. no longer than two weeks after that. nancing, your preferred income and genuine homebuyer.

Chris Tan is a lawyer, author, speaker and keen observ- If you have questions that you would like to pose to Chris, Disclaimer: The information here does not constitute legal er of real estate locally and abroad. Mainly, he is the please go to the Tips section of www.theedgeproperty.com advice, please seek professional legal advice for your specific founder and now Managing Partner of Chur Associates. to pose your questions needs.

NEWS

SAM FONG / TheEdgeProperty.com TheEdgeProperty.com shares market fi ndings with Credit Suisse

BY RACHEL CHEW

KUALA LUMPUR: Property por- During his talk, Ong touched on tal Th eEdgeProperty.com was in- Penang and Kuala Lumpur’s resi- vited to share its fi ndings on the dential property subsale market property market at a luncheon performance in the past four years. talk organised by Credit Suisse He also explained the possible im- Securities (Malaysia) Sdn Bhd on pact of the Kuala Lumpur-Singa- Oct 5. pore High Speed Rail link on the Some 35 fund managers and an- local real estate market. alysts attended the talk by Th eEdge- All the presented data were col- Property.com product and busi- lated by TheEdgeProperty.com ness development director Alvin based on data from the Nation- Ong. Th eEdgeProperty.com man- al Property Information Centre aging director and editor-in-chief (Napic). Au Foong Yee was also present at Th eEdgeProperty.com is availa- (From left) Credit Suisse director of equity research Tan Ting Min, Au, Credit Suisse Malaysia country head and managing director the talk. ble both online and offl ine. Stephen Hagger and Ong

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Fast forward to the future

BY KATHLEEN TAN of what the future holds for them. Developers don’t igns of globalisation are everywhere build overnight — they plan — from the cars we drive to the shared ahead,” says Goh. experience of hunting for virtual Understanding current monsters on Pokemon Go. and future trends is crucial Globalisation, technology, market for developers to meet the changes and shifting demographics needs of younger and future Sare constantly infl uencing our lives. Globalisation property buyers, she says. even aff ects how people buy properties as global “Th e Millennials not only trends infl uence the way we live and the expec- consume media diff erently PATRICK GOH / TheEdgeProperty.com tations we hold, says Carrie Fong, chairperson of from the Gen X, Gen Y and Rehda Youth, the youth wing of the Real Estate Baby Boomers — it even Fong (left) and Goh are both aware that globalisation is redefi ning the and Housing Developers’ Association Malaysia. applies to how they take a property market “Globalisation is redefining our business cab, buy property and go and target market. As property developers, we on vacation. When designing and developing years, Goh says the forum is their biggest joint want to ensure that what we build is up to inter- a township, developers need to adapt to their project to date. national standards — not just in construction needs and lifestyles,” Goh says. “We wanted to do something diff erent that methods, but understanding global lifestyle With the aim of equipping property industry would be sustainable and ongoing. Rehda Youth trends,” says Fong. leaders with insights into regional trends, emerg- are the future captains of industry so we wanted Leveraging new trends can also help property ing ideas and predictions in design, projects and to have a platform to trigger discussions among developers set themselves apart in an otherwise innovations, Rehda Youth has collaborated with younger developers. Th ey will eventually become cookie-cutter industry, she quips. Nippon Paint Malaysia to organise the inaugural the masterminds in the property development “Everyone is going into mixed-use develop- “Future Forward Forum” on Sept 29, 2016. ecosystem and shape both communities and the ment and strata-titled projects now, for instance. Th emed, #Trending: Developing Tomorrow, the environment,” says Goh. Th ere are only a few property types you can do one-day event attracted more than 200 participants. Nippon Paint Malaysia is no stranger to pro- — condominiums, hotels, retail malls and offi ce It featured keynote sessions and panel sessions moting innovation in the property industry, towers, to name a few. With the current softening exploring future trends that could sustain, propel having pioneered odourless paint in Malaysia market, there is no better time for developers to or disrupt the property development industry. and organised the annual Asia Young Designer look for niches and opportunities,” says Fong, Among the list of international and home- Awards (AYDA) for the past eight years. who is also the director of Hedgeford Sdn Bhd. grown speakers were Tange Associates presi- Th e AYDA aims to inspire and recognise the In this fast-paced, globalised world, prop- dent Paul Tange, TA Global Bhd CEO Tiah Joo talent of interior design and architecture stu- erty developers risk becoming obsolete if they Kim, CPG Consultants senior vice-president of dents regionally. are out of touch with trends that are shaping architecture Jerry Ong, Sansiri Public Company Similar to how the AYDA grew from a nation- the future. Ltd vice-president of business development and al competition to a regional showcase, Goh says Typically, the trend-setting agenda in the con- new business (high-rise) Varangkana Artkara- they hope to extend the “Future Forward Forum” struction industry has been driven by architects satapon, Panasonic Malaysia general manager to regional participants next year. and designers, instead of property developers, Tan Chee Hon, Arkitek LLA Sdn Bhd director “We are defi nitely looking to make this an an- says Nippon Paint Malaysia group general man- Laurence Loh and Art Printing Works Sdn Bhd nual event and a regional one. With the Internet ager Gladys Goh. CEO Ee Soon Wei. of things, it’s a borderless world and we need to “Property developers should know what trends Having collaborated with Rehda Youth for see things from a global perspective and share are up and coming, so that they have the vision various networking initiatives over the past three diff erent perspectives,” she says.

Thinking for the future today

Th eEdgeProperty.com The objectives ious fi elds related to building and design and innovation to propel Managing Director/Editor-in-Chief Au Foong Yee Th e Future Forward Forum brings construction. Malaysia’s development industry together a think tank of visionary As consumers and investors con- to the next level. EDITORIAL personalities who have made a tinue to invest locally and overseas, Future Forward’s objective is to Editor Lam Jian Wyn Contributing Editor Sharon Kam mark in their respective professions they have better exposure to expe- BE that platform to start a new dis- Deputy Chief Copy Editor related to property development, riences, products and investment course to share ideas and ideals to James Chong architecture, technology and digital opportunities. Local markets need move forward into the future. Senior Copy Editor Shanthi Murugiah innovations. to respond to this to be relevant. Nippon Paint Malaysia is Malay- Writers Rachel Chew, Tan Ai Leng, Future Forward provides the plat- Future Forward gives the audi- sia’s leading total coating solutions Natalie Khoo, Shawn Ng, Lum Ka Kay form for cross-sharing of ideas and ence a chance to relook at them- provider. Art Director Sharon Khoh trends within the Asian context, to selves and look at new possibilities Nippon has always been in the Design Team Nik Edra, Nurul Aida Mohd Noor develop leadership and strategic and markets. forefront to: thinking amongst the next genera- • encourage and nurture plat- For New Launches/Events/ tion of industry leaders. The organisers forms where new talents and Press Releases/News Tips email: [email protected] Future Forward aims to equip Rehda Youth has been champion- ideas are discovered and shared Tel: 03-7721 8211 Fax: 03-7721 8280 industry practitioners and compa- ing the following causes based on • champion the education and Email: [email protected] nies with knowledge that will fur- four main pillars since its inception: awareness of green and sus- ther increase their business com- • Green sustainability tainability. ADVERTISING & MARKETING Head of Marketing and Sales petitiveness in the Asian region, and • Education and exchange of ide- Future Forward will be a plat- Sharon Chew (012) 316 5628 in the global arena. Th ere is much as amongst peers form for Nippon Paint Malaysia to Senior Account Manager knowledge to be shared in terms • Networking build its brand and thought lead- Cecilia Too (012) 319 7666 Jayne Law (016) 929 3309 of branding, technologies, lifestyle • CSR ership in sharing inspirations and Account Managers patterns, sustainability, new media, Rehda Youth aims to enhance its ideas as well as engagement with Jayremy Sim (011) 1669 6039 design, etc. second pillar by bringing together its various stakeholders such as Jocelyn Poo (012) 611 5626 The general theme revolves a network of knowledge from over- property developers, architects, Marketing Support & Ad Traffi c Madeline Tan (03) 7721 8218 around what regional leaders an- seas resources to be shared with the interior designers as well as pro- email: [email protected] ticipate future trends to be in var- purpose of improving standards, ject owners.

when designing developments and spaces. Th e session was moderat- Innovation and new technologies ed by KIP Land Sdn Bhd director Alex Chew. “Th e real value of a development is not so much about revenue, but must be for the people its sustainability and placemaking,” said Loh, who is known for his res- toration work on the Cheong Fatt PICTURES BY HARIS HASSAN / TheEdgeProperty.com Tze Mansion in Penang. BY TAN AI LENG AND RACHEL CHEW For Ee, the value from a develop- ment or space can be created when it echnology may change is able to serve the community or an the way we work and area, citing the APW project where communicate, but hu- Ee rejuvenated an old printing fac- man beings still want tory in Bangsar, Kuala Lumpur into that personal touch a co-working space and an event that only another fellow space that the community could use. Thuman being can give. Hence, the Ong who is the senior vice-pres- ideal city of the future would be an ident of architecture for the health- intelligent one that makes life easy care division of CPG Consultants yet allows people to step out of their From left: Chew, Loh, Ong and Ee discuss the importance said an awareness of community homes to have real connection with of having the right mindset and planning to create value living is important when developing other people, said the experts that from developments and spaces a project, citing one of his projects, shared their views at the Future Singapore’s Ng Teng Fong Hospi- Forward Forum on Sept 29, 2016. Fong (fi rst from right) was seen explaining the tal, which has a pedestrian link to The event entitled #Trending: De- sketch posts of the forum topics to guests. From left: a mall and MRT station. veloping Tomorrow was organised Nippon Paint Malaysia Sdn Bhd group marketing Earlier, in her welcome remarks by Rehda Youth (the youth section assistant general manager Alex Yoong, Tan, Au, Ong, Rehda Youth chairperson Carrie of the Real Estate and Housing De- Varangkana, Tiah and Tange. Fong noted that as times change, velopers’ Association Malaysia) developers need to enhance their in partnership with Nippon Paint of strategic B2B development Tan curity and comfort of living. Other- address their needs and culture. projects through innovation ide- Malaysia. Chee Hon took to the fl oor in the wise, they cannot be considered as Meanwhile, the afternoon ses- as or products. “Innovative ideas Japan-based architectural fi rm morning. Th ey also took part in the successful ideas, they said. sion speakers Arkitek LLA Sdn doesn’t mean it has to be a luxury Tange Associates president Paul morning panel discussion entitled The panel also discussed the Bhd director Laurence Loh, CPG item, it could be an idea which ben- Tange, TA Global (Malaysia) Sdn “Engaging with the Future of Real cost of good design and the imple- Consultant senior vice-president efi ts the developers while creating Bhd CEO Tiah Joo Kim, Thai- Estate” moderated by TheEdge- mentation of new technologies. of architecture Jerry Ong and Art more value for buyers,” she said. land-based Sansiri Public Com- Property.com managing director Tange emphasised that good ar- Printing Works (APW) Sdn Bhd Th eEdgeProperty.com was the pany Ltd vice-president of business and editor-in-chief Au Foong Yee. chitectural design does not need CEO Ee Soon Wei, who also took offi cial media partner of the forum development and new business They concurred that innova- to be expensive as long as the ar- part in the second panel discus- which attracted about 150 partic- (high-rise) Varangkana Artkara- tion ideas or new technology must chitect or developer understands sion entitled “Future Value”, spoke ipants from the building and con- satapon and Panasonic Malaysia stem from the desire to fulfi l human the real needs of the targeted cus- about the importance of having the struction, green technology and Sdn Bhd general manager and head needs including connectivity, se- tomers and designs the product to right mindset and good planning property development industries. PICTURES BY TANGE ASSOCIATES Building with purpose

hen thinking vented to adapt to the drastically about architec- changing physical and technolog- tural design and ical environment of cities, says ecosystems of Tange, citing the Mode Gakuen the future, Jap- Cocoon Tower in Tokyo as an ex- anese architect ample of this. WPaul Tange and his colleagues He explains that the firm had at Tange Associates constantly to redefine school architecture challenge themselves with this for the urban setting, with its de- question —“How do we create cision to house three different The architectural challenge for Tange is to ensure sporting facilities remain relevant even after the Olympics is over a comfortable environment for schools in a 50-storey vertical people?” high-rise building due to land Even though technology, par- scarcity in Tokyo. ble-edged sword, as it heightens the devastation of World War II, ticularly green technology, has “Urban design or architecture the risk of creating homogenous the Japan of today is well known advanced greatly, more often than must reflect locality-specific es- environments, as architectural as a leading global power, so how not, individual technologies or sences, and must take into con- designs are adopted wholesale by the mature society will view the systems are isolated and are not sideration the country or city’s other countries. 2020 Olympics will be very dif- connected to one another, Tan- weather, climate, culture, history, While he is not against import- ferent, he says. ge notes. lifestyle and financial condition. ing good design, he stresses that Th e architectural challenge for For example, governmental eval- Such a design will inevitably be architects need to be sensitive to Tange remains the same — to en- uations and sustainable building distinct,” he says. the local environment, society and sure the sporting facilities remain awards do not necessarily create a Globalisation, he says, has al- culture for which they are design- relevant to the people of Tokyo even comfortable environment for peo- lowed information sharing to take ing for, in order for design to be after the Olympics is over. ple, as they are merely numerical place easily, with foreign design- relevant for the people. “What this means is a complex evaluations, he says. ers bringing great innovation and that can accommodate 20,000 “A certain number of points imagination to the table as they Standing the test of time spectators during the Olympics are given for specific elements. To see the local environment from Being an Olympics host nation being restructured to a 5,000 seat- meet governmental requirements, a different perspective. is a source of national pride for ing capacity stadium post-Olym- glass colour may be darker to help However, globalisation is a dou- any country, but Tokyo playing pics. In both scenarios, the build- Paul Tange, president reduce heat inside the building. host to the 2020 Olympics holds a ing has to look complete, unlike of Tange Associates However, dark glass also reduces personal significance for Tange, some other facilities in past Olym- natural light, which in turn might as his late father, the renowned pics that appear to be temporar- Tange is the president of Tange As- increase the need for artificial The Mode Japanese architect Kenzo Tange, ily built for the Games,” he says, sociates whom he founded in 2003. light to brighten the interior. It Gakuen had designed the Yoyogi Nation- referring to criticism of major He was previously the president also distorts the natural colour Cocoon al Gymnasium for the 1964 Sum- Olympics sporting facilities be- of Kenzo Tange Associates which of the blue sky and green plants, Tower mer Olympic Games. coming white elephants around was established by his father Ken- as compared to transparent glass. For the upcoming Olympic and the world. zo Tange. The architectural firm How does this distorted view of Paralympic Games in four years’ To achieve this, Tange plans to has designed landmark buildings nature impact those inside the time, Tange will be designing the reduce the post-Olympic seating both in Japan and overseas and is building?” he says. Aquatic Centre and renovating the to a quarter of the Olympic-size currently designing the Aquatics Technological advancement Yoyogi National Gymnasium. Tan- capacity, and lowering the roof Centre for the 2020 Tokyo Olym- has enabled architects to con- ge Associates has been involved of the building — a move that not pics. This means that both father struct almost any building form or in the maintenance and upkeep only demonstrates Japanese engi- and son would have designed the shape, and push the boundaries of the latter since its completion neering and technology, but proves same facilities in the same city for of creative design. “But are these in 1964. practical and cost-eff ective for fu- two separate Olympics (Tokyo 1964 shapes providing a comfortable “It is obviously a great honour ture maintenance and running and 2020). space and environment for peo- for two generations of Tanges to costs, he elaborates. Other buildings in its portfolio ple?” he says. design for two different Olympics And he is confident that he include the American Medical Asso- Tange believes an architect’s in the same Olympic city. I be- can set the bar high for others ciation Headquarters Building, Fuji fundamental role is not to ob- lieve we are the only father and to follow. Television Headquarters Building, sess with chasing trends but to son architects to have had this “The Tokyo Olympics will be a Tokyo Dome, BMW Italia Headquar- enrich and strengthen relation- honour,” he notes. good example for future Olympic ters, Shanghai Bank Headquarters, ships among the city, architecture While the 1964 Olympics was hosts to see how we address this Salvatore Ferragamo Flagship Shop and people. an opportunity for Japan to rein- issue. Asia is leading the world in in Japan, Mode Gakuen Cocoon Tower Building typologies need to troduce itself on the global stage most aspects. All one needs to do and One Raffl es Place Tower 2. change and constantly be rein- as a technological innovator after is look around,” he says.

Interactive polls provided some ideas on market trends A Global Bhd, as its name suggests, has a global presence as Understanding people a property develop- er with projects in various countries in- Tcluding Malaysia, Australia and to predict trends Canada. In Australia, it recently completed and handed over So- TA GLOBAL lis, the first building at its Little More disruptive businesses and cities like Vancouver, San Francis- Bay Cove Master Plan Develop- trends can be expected in the fu- co, London, New York, Melbourne, ment in Sydney. It will soon begin ture. For instance, the Internet has Sydney, Los Angeles and so forth. construction on Illume which is opened up the hotel market with Th ey are buying up everything, and about 80% sold. In Canada, it is in the emergence of home-sharing will continue to do so and increase the process of completing Trump businesses such as Airbnb. their sphere of infl uence. International Hotel and Tower “Hotels have to learn and un- “Besides the Internet, I would Vancouver, a mixed-use project derstand why some end users are say the Chinese are the ones to with 217 condominium units and choosing Airbnb. Th e traditional watch, not so much because they a 147-key hotel. hotel will have to adapt and learn create trends but because they are “We believe that we have creat- how to compete against what Air- so big that they make something a Tiah Joo Kim, ed an iconic building that will be bnb gives,” he adds. trend when they latch on to it. When CEO of TA Global benchmarked in the city of Van- Th e fi rst step in predicting future China is able to successfully create couver for many years to come. trends, he believes, is to understand an original product/idea, versus Tiah is the CEO of TA Global, a We have sold out the building and the behaviour, tendencies, patterns copying/perfecting an idea, that’s real estate conglomerate listed have achieved the highest average as well as culture of a target market. when they will be scary.” on Bursa Malaysia with a global price psf for a residential mixed- “When you understand the psy- What does he hope for in Malay- presence including in Singapore, use building in Canada,” says TA chology of your target market, it will sia’s development scene in the fu- Thailand, China, Australia, Canada Global CEO Tiah Joo Kim. be easier to fi gure out their actions ture? Looking at Kuala Lumpur city, and Malaysia. He holds a Bachelor In Malaysia, TA Global has sev- in the future, and when you do, Tiah says public parks and amenities of Science in Management from eral ongoing and upcoming de- hopefully you can capitalise on it are lacking while traffi c congestion Oral Roberts University, Tulsa, velopments, including the 48-acre sooner than anyone else. continues to plague the city. Oklahoma and a Master of Inter- Damansara Avenue in Bandar Sri Artist’s impression of the Trump International “Trends do not become trends “If we can create an environment national Business from Macquarie Damansara and a mixed develop- Hotel and Tower Vancouver, Canada overnight; trends become trends where the end user can have a more University, Sydney, Australia and ment in Kuala Lumpur City Centre when they are popularised or em- liveable life where they can live, work has been with the TA Group since which it hopes to unveil next year. tinue to change the way we market, braced by key infl uencers, true fol- and play in the same area, this would August 2008. While busy developing projects sell, communicate and buy real es- lowers and experts of a fi eld,” he says. translate to more personal time for Recently, he most notably now, Tiah believes a property de- tate. It is the future as people are Th e political and economic sit- themselves and their families. Th ere spearheaded the company’s fl ag- veloper needs to evolve and em- spending more and more of their uation of countries also infl uence are developers that recognise this. ship development The Trump brace change if it wants to remain time online and on social media. and dictate trends, for example, the However, I think a more concert- International Hotel and Tower constantly relevant now and in the Social media and digital marketing fl ow of money and immigration, ed overview of how we plan future Vancouver, Canada. The project future. He says technology’s role will continue to grow. And as the which will dictate sales. areas is warranted. As a city grows, is a 63-storey twisting tower that and infl uence will be even stronger younger generation who are more One country to watch now and the development community has comprises a 147-room luxury ho- in the future. tech and Internet savvy grow to be- in the future is China, he says. “Th e to start looking at the growth and tel to be managed by the Trump “The Internet and the smart- come property buyers, they are more Chinese have been busy expanding development of the city as a whole Hotel Collection and 217 luxury phone, for instance, have changed open to new methods that involve and buying assets and businesses all and not solely by single pieces of residences. how we live. Th ey have and will con- the Internet,” he off ers. over the world, especially in gateway land that they own.”

SANSIRI Looming challenges in property development

echnology, low birth we then sustain business?” she asks. rates and an aging pop- Hence, the developer believes it has 98 Wireless ulation are among the to diversify its business markets and will hit a new trends that will disrupt attract foreign purchasers instead of record price or affect the property depending on the local market. San- per sq m in development industry siri’s foreign purchasers are mainly Thailand Varangkana Tin the future, according to Varang- from China, Singapore and the West. Artkarasatapon, kana Artkarasatapon, vice-presi- Meanwhile, in order to serve the cated on Wireless Road, which is appointments with our home care vice-president of dent of business development and elderly, homes have to be designed the most affl uent area in Bangkok, service. Recently, we also installed business development new business (high-rise) of Sansiri to suit their needs such as large walk- will hit a new record price per sq ‘EV chargers’ in our condominium and new business Public Company Ltd (Thailand) — ways for wheelchairs and handrails m in Th ailand, she reveals. to serve electrical cars in future. It is (high-rise) of Sansiri one of Thailand’s most prominent in the restrooms, she adds. “Our marketing team was work- the fi rst residential project in Th ai- Public Company Ltd luxury property developers. She says the company keeps ing so hard to fi nd the concept for land installed with the EV charger.” (Thailand) Th ese are among the foreseeable abreast with the latest trends and this project. If we off ered another However, she stresses, when it challenges that the property devel- stays ahead of the curve by investing hotel-branded condominium, it comes to trends in property devel- Varangkana supervises Sansiri Public opment industry will have to face in in its people — by educating them would not make us diff erent. We opment, one has to be aware that a Company Ltd’s investment portfolio the future. “All around the world we and encouraging them to devel- believe that 98 Wireless will be a trend that succeeds in one country both in Bangkok and overseas com- are talking about ‘digital disruptions’ op ideas and innovations. “We en- landmark building in Th ailand. may not succeed in another. “Prop- prising landed properties, high-rises, like Uber or GrabCar services, and courage everyone to try and come Th e developer also recognises erty development is a localised busi- hotels and offi ce buildings. Airbnb. In my opinion, it will change up with new ideas and we do not the role technology plays in a mod- ness. Every country has its own life- She is a much sought-after our lifestyle in the future. To survive punish them if their ideas fail. If we ern and fast world. “New technol- style, cultures and beliefs.” speaker and a guest lecturer on the in this business in the future, we have do so, nobody would like to create ogies are for the convenience of She also believes that when in- real estate business in Thailand. to keep ourselves updated and seize new things and share their ideas.” our customers. For example, we troducing a new idea or a trend, the She completed her Bachelor’s De- opportunities ,” says Varangkana. For instance, while others devel- equip our houses and condomini- right timing is crucial. “Sometimes, gree in Finance and Banking from Other future challenges which op hotel-branded condominiums, ums with home automation where the fi rst time you introduce it, it may the Faculty of Commerce and Ac- she believes will form future trends Sansiri decided to go one up to in- residents can control all gates, se- not be successful because it is not the countancy, Chulalongkorn Univer- in the industry is in housing an ag- troduce the fi rst designer-branded curity cameras and lights on their right timing but the second time, it sity. She also holds a diploma of ing society as this, coupled with low condominium in Bangkok and in mobile. We have also developed our may be more successful because the General Management Programme birth rates, will be a major trend in Southeast Asia. own ‘Home application’ as anoth- market is then ready to accept it. Of from Harvard University. Asia. “As a result, demand in property Partnering Polo Ralph Lauren, er channel to communicate with course, it would be best if the timing and everything will be less. How do its 98 Wireless condominium lo- our customers, and also to make is right the fi rst time,” she says. hat do hospitals of the future look like? Drawing Designing for wellness from his experi- ence of designing the award-win- Wning Khoo Teck Puat Hospital project. My boss wanted someone Mark Platinum Award, the highest move that required constructing a (KTPH) in Yishun, Singapore, with a fresh take on hospitals to rating under Singapore’s Green fan-shaped layout for the hospital Jerry Ong, senior vice-president participate,” he recalls. Mark programme. KTPH is also wards. While this feature gives pa- of architecture of the healthcare With its “hospital in a garden” the fi rst hospital to win the BCA tients more access to greenery and division at Singapore-based CPG concept, KTPH has many notable Universal Design Gold Award for natural sunlight, it also resulted in Consultants, envisions hospitals green features, such as a rooftop urban design. a 5% increase in cost and area us- as “centres of wellness for every- community urban garden run by While being recognised for their age, says Ong. one” instead of “repair shops to volunteers, gardened terraces and work with KTPH does help convince “Energy effi ciency can be quan- treat sick patients”. a central pond landscape area that many clients that the “designing for tified but not everyone can put He credits this vision to Group is open to the public. wellness” concept is executable and a dollar value to ‘patient recov- CEO of Alexandra Health System, Energy-saving features such realistic, it is not always an easy-sell, ery’ or having a window view in a Jerry Ong, Liak Teng Lit, who worked closely as wall-mounted fins to channel according to Ong. patient’s room. Intangible value senior vice-president with Ong for the KTPH project. wind flow into the building, win- Th e challenge is in changing peo- is hard to quantify in ROI — you (architecture) of CPG “What we propose is a total en- dow sunshades to redirect natural ple’s mindsets, as not everyone sees have to experience it for yourself Consultants, Singapore vironment of wellness in hospitals, light, and a solar thermal system the value of integrating nature into to understand it,” he says. integrating the design with nature to produce hot water for the hos- the hospital design. Sustainable or At the end of the day, a success- Ong is the senior vice-president for the benefi t of all — not just pa- pital’s needs — provide up to 70% green features are seen as unneces- ful project involves fi nding out what (architecture) for the healthcare tients,” says Ong. of the floor area with natural ven- sary frills by some clients who would works for the client and having clear division of CPG Consultants in Sin- With the rising prevalence of tilation, savings in energy costs by rather invest in medical equipment communication from the get-go, gapore. It handles a wide range of chronic diseases, hospitals should as much as 50%, and increased or interior design, he says. Ong says. development projects for private have a larger purpose of educating energy efficiency by up to 30%. For example, the design of Ng Moving forward, the biggest developers and government bodies. people to live healthy lifestyles, in- Completed in 2010, KTPH was Teng Fong General Hospital in Ju- challenges facing hospital designs He was the key project archi- centivising them to eat healthier, awarded the Building and Con- rong East, Singapore involved “giv- involve addressing concerns of se- tect for the multiple award win- and having the right environment struction Authority (BCA) Green ing every patient a window” — a curity and infectious diseases con- ning Khoo Teck Puat Hospital @ and facilities to encourage them to CPG CONSULTANTS trol, with the rise of terrorism and Yishun. Khoo Teck Puat Hospital exercise, he adds. disease outbreaks globally. was awarded the prestigious Pres- Ong had only been a practising “Th e healthcare industry is not ident’s Design Award in 2011. Ong architect for two years with zero immune to external forces. Ter- was also identifi ed as one of Sin- experience in designing hospitals With its rorism and infectious diseases gapore’s 15 great engineers and when he was tasked with the design ‘hospital in are becoming serious concerns architects aged 40 and under by of KTPH in 2005. a garden’ among our clients, so we are re- the Singapore Business Review. He “Alexandra Hospital had part- concept, KTPH viewing hospitals’ security pro- has often been invited to speak on nered with the Singapore Ministry has many visions against potential terrorist his ideas and innovations in the of Health to organise an interna- notable green threats to ensure that hospitals are architecture of wellness. tional design competition for the features prepared,” he says.

ements that will still defi ne a SST development in Malaysia. More im- The homes of tomorrow portantly, these technologies must address the fundamental needs of the local community,” says Tan. PANASONIC MALAYSIA Following the Fujisawa SST, magine living in a neigh- Panasonic has other plans in the bourhood that generates its pipeline such as the Tsunashima own electricity, where public SST in Yokohama, and in the US, areas have 24-hour camera a programme called Panasonic surveillance and residents are CityNow has been established. encouraged to get around by In China, Panasonic is support- Ielectric car-sharing services pro- ing the BEST (Bio-diverse Emerg- vided by the township. ing Science Technology) City in Homes will also be equipped Dalian, while the company con- with energy-saving, sensor tech- tinues to market the concept in Tan Chee Hon, nology, enabling homeowners to Malaysia, Indonesia, Vietnam and general manager monitor and efficiently manage Th ailand. and head of strategic their electricity and energy usage, Tan says Panasonic hopes to B2B development of and car charging stations at home The Smart Sustainable Town in Fujisawa has integrated smart solutions and services address the fundamental needs of Panasonic Malaysia will make it convenient for electric homeowners without providing un- car owners. consumption by 30% and incor- “We can improve life in society necessary complications in terms of Tan is currently a general manager Th ese homes do not exist in the porate renewable energy usage and enhance clients’ businesses if usage. “An eco home or SST, for in- in Panasonic, spearheading the stra- distant future but refl ect the current to over 30%, with each home able we consolidate the many fi elds and stance, should not equate to greater tegic B2B & Eco Innovation develop- reality of homeowners in Panason- to save up to three days’ worth of product lines to address the most complexity. For the next 10 years of ments in Malaysia. With more than ic’s Smart Sustainable Town (SST) electricity in storage batteries to be key elements. We feel that in the our R&D, we shall be continuously a decade of experience in Panasonic, in Japan. Built on Panasonic’s old used in times of emergencies such future, the fundamental needs of developing the areas in relation to Tan has ventured through a wide factory site in Fujisawa, the compa- as earthquakes. homeowners will remain the same, user interface (UI), user experience spectrum of development platforms ny collaborated with a consortium Panasonic Malaysia general but technologies supporting these and smart sensing,” he says. — products, solutions, channels of 18 other companies to bring the manager of strategic B2B devel- needs shall improve, converge and He stresses that technology and industries. SST to life. opment Tan Chee Hon says that integrate for the better,” he says. should not be “smart” for the sake of His know-how ranges from Launched in 2014, the Fujisawa the Fujisawa SST demonstrates Among the fundamental needs being smart, but it must ultimately smart and sustainable townships, SST is Panasonic’s fl agship project the integrated essence of the com- are security, convenience, connectiv- improve people’s well-being. eco homes and buildings (Pana- to create a sustainable town with pany’s wide spectrum of solutions ity, enhanced comfort, eco lifestyles, “Before we actually develop Home), renewable energy (Solar integrated smart solutions and ser- in housing, township, community, wellness and mobility, he adds. and introduce any cutting-edge PV), indoor air quality (IAQ) and vices based on people’s lifestyles. B2B and eco-type solutions. The SST can be planned and technology, it’s highly imperative electric mobility (EV) to professional Currently, 80% of the landed In Malaysia, Panasonic has built customised to diff erent markets, that we understand our customers AV systems, broadcast/videography homes at Fujisawa SST have been a reputation as a household brand community, culture and budget. deeply. If we develop products with and interactive multimedia displays. completed, and about 60% of the for home appliances and AV equip- “Applying SST in Malaysia or a comprehensive understanding of An E&E engineer by training and residents have moved in. Th e cost of ment in Malaysia, but Tan says the Southeast Asia would be a diff erent our customers with the right mar- a Master’s Degree holder in Mass developing the 19ha Fujisawa SST company has expertise in an even approach from Japan. Rather than ket penetration strategy, there is Communication, he started his ear- to cater for 1,000 households was wider range of solutions — security, convincing developers to invest in always a segment of the market that ly career and marketing fundamen- around ¥60 billion (RM2.4 billion). communication, housing, indoor a high-end full-fl edged SST, we are is willing to invest as early adopters, tals in the FMCG industry. Th e Fujisawa SST aims to reduce air quality, avionics, automotive, taking a more pragmatic approach which subsequently cascades to carbon emissions by 70%, water renewable energy and robotics. by integrating more aff ordable el- the masses,” he says. taken a keen interest in acquiring pre-war shophouses in Penang and The case for adaptive reuse converting them for adaptive reuse, following George Town’s designation as a Unesco World Heritage Site. STRAITS INDIGO SDN BHD Gentrifi cation must be accompa- tanding at the corner of nied by enlightened cultural reten- Leith Street in George tion policies, which, unfortunately, Town, Penang is the in most planning environments are iconic indigo blue-walled currently non-existent, Loh says. Cheong Fatt Tze Blue In terms of legislation concerning Mansion. adaptive reuse and heritage proper- SFeaturing an eclectic blend of ties, he says laws need to be strength- Hakka and Teochew infl uence in ened because they are inadequate design, the mansion, which was and often drafted in haste. constructed during the 19th century, One of the major challenges of fell into a state of disrepair after the property owners considering adap- passing of its founder in 1916. Th e tive reuse for heritage buildings mansion was redeemed by Penang Following six years of restoration work,The Blue Mansion was reopened as a boutique is the real estate play. “If there is conservationists who purchased hotel, in-house museum and restaurant in 1995 money to be made, heritage is of- the building when Cheong’s last ten forgotten,” Loh quips. son and heir passed away in 1989. and reuse of existing buildings is tinuity, authenticity and a critical Th ere is much to be learnt from Laurence Loh, Following six years of restoration conducive for parties who are inter- mass for eff ective area marketing. markets like Hong Kong, where director of Arkitek LLA work, Th e Blue Mansion — once ested in restoring a building’s func- His advice on deciding on suita- the government has a programme Sdn Bhd home to the Chinese Vice-Consu- tion and those who see a value in it. ble new uses for old buildings is to on adaptive reuse for government late and the family of entrepreneur “Additionally, these could be ear- consider the one closest to its original properties called “Revitalising His- Loh is recognised as a leading Cheong Fatt Tze’s seventh wife — ly modern structures that can still be use, or that takes into account the toric Buildings Th rough Partnership conservation architect and cul- was reopened as a boutique hotel, reused economically and generate carrying capacity, construction, craft, Schemes”, says Loh. tural heritage expert in Malaysia in-house museum and restaurant recurring income without having climate and contemporary needs. “Th ere are many case studies, and the Asia Pacific region. Best in 1995. to be demolished and redeveloped “With regards to the law, the especially in fi nancing and ena- practice exemplars of his work Th e restoration eff ort won the Ma- in the short to medium term,” says uses for conservation zones or ar- bling instruments. Malaysia could in Malaysia include the restora- laysian Institute of Architects (PAM) Loh, who is also a director at Th ink eas should be specifi ed. Planning easily follow the model instead of tion and adaptive reuse of the Architecture Award in Recognition of City Sdn Bhd. A wholly-owned sub- must be seen as an enabling tool trying to monetise land through world-renowned Cheong Fatt Tze Design Excellence in 1995 and Un- sidiary of Khazanah Nasional Bhd, to benefi t the citizens as a whole. real estate play,” he says. Mansion (2000 Unesco Asia Pacific esco’s Most Excellent Project in the Th ink City is a community-based Besides having stringent conserva- Loh’s experience in heritage con- Heritage Awards, Most Excellent Asia Pacifi c Heritage Award in 2000. urban regeneration body that spear- tion guidelines regarding the use of servation projects such as Th e Blue Project), and Suff olk House (2008 Th e mansion, along with other headed urban regeneration in the traditional or sympathetic materi- Mansion and Suffolk House has Award of Distinction). He is a di- notable landmarks such as the Suf- George Town Unesco World Herit- als, the local authority or heritage greatly infl uenced his architectural rector of Think City Sdn Bhd, a folk House, is just one of the many ex- age Site, and is now expanding its agencies can alleviate the fi nancial practice and ongoing work. “It has company responsible for the dis- amples of successful adaptive reuse. initiatives to Kuala Lumpur, Butter- burden by giving out grants and tax taught me that the walls speak to persal of financial grants to cata- Conservation architect and worth and Johor Bahru. incentives,” he says. you and that in order to maintain, lyse neighbourhood regeneration. Arkitek LLA director Laurence Loh, Loh says adaptive reuse is par- Th e economic potential of her- retain or create places with soul, we He is also an adviser to the Hong who was heavily involved in the res- ticularly attractive if the buildings itage properties have not gone un- fi rst have to understand the concept Kong Institute of Architectural toration works for both buildings, are situated within well-conserved noticed, particularly among foreign of “Spirit of Place” and learn how to Conservationists. says the conservation, adaptation historic enclaves, as this off ers con- investors who have in recent years endow a space with value,” he says.

Adaptive reuse, he says, makes spaces more sustainable in the Rewriting the narrative long term. “There’s no need for demolishment to defi ne progress,” he quips. PICTURES BY SAM FONG / TheEdgeProperty.com Adaptive reuse also makes busi- hile he is no ar- ness sense. Currently, APW’s rev- chitect, Ee Soon enue is derived from turnover of Wei is no stranger sales from the print facility, rent- to the practice als from fi xed tenants and variable of adaptive re- venues from event spaces. use. In 2012, the It took three It took three years to trans- W36-year-old spearheaded the years to form APW. Time is usually the transformation of The Royal Press, transform the challenge for anyone considering his family’s printing press busi- Art Printing adaptive reuse. “The length of ness in Melaka, in a bid to pre- Works facility time required and the sheer work serve the family legacy and revive from inception to completion is the dying art of the letterpress. Uppercase, F&B retail hub Paper Ee believes that to depict trends, tedious with many compartments Over the past two years, Th e Roy- Plates, a pocket park and event listening is important — not just needing clear distinction of prior- Ee Soon Wei, al Press’ headquarters — a Dutch spaces alongside a print produc- to people but also to the space. He ity to ensure it is well-preserved,” CEO of Art Printing colonial building within the Jonker tion area. credits his overall vision for APW to he explains. Works (APW) Street heritage zone — has been “We want APW to accelerate the the architectural practice of genius Finances may prove to be an- undergoing restoration works to creative economy with incubation loci or “spirit of place”, which refers other barrier, as the practice of Ee is the CEO of Art Printing prepare the building structurally of all things art, tech and design. I to the intangible values and cultural adaptive reuse may not necessarily Works (APW), a creative indus- for its new role as a living polyglot am looking at trends of spaces and essence that give a physical site its be commercial. Th us, institutional trial space in Bangsar, Kuala letterpress museum. the term ‘connection economy’ distinctive character and soul. and government partnerships are Lumpur which was carved out Meanwhile, Ee has also been comes to mind — how people are “Our key consideration was re- key to promoting adaptive reuse in of an old printing factory. Ee busy with adaptive reuse projects, converging to activate a space. We taining the soul of the space. I be- Malaysia, he says, adding that APW also manages TRP Heritage Sdn Art Printing Works (APW), which see the spirit of collaboration and lieve in the narrative and that the received Khazanah’s Think City Bhd, which oversees the revival involves renovating his family’s print- fostering of partnerships, a young spirit of the place should live on. grant of RM190,000 for its pocket of The Royal Press, a heritage ing press factory in Bangsar into his target audience at work seeking to Th e architects we engaged — Stu- park project. letterpress printing house in vision of a “creative campus”. explore possibilities,” he says. dio Bikin, Studio Cocokacang and As for Ee, he continues to ex- Melaka, to transform it into a Th e 64-year-old APW printing fa- Ee adds that APW is contributing POW Ideas — had to be patient with plore other potential spaces for living museum. cility was operating at a loss with 70 to urban regeneration by creating our limitations and work around adaptive reuse. “I enjoy the process Aside from his work in rejuve- employees working there. Th e build- a legacy of sustainability among our resources,” he says. of structuring value in physical nating old spaces, Ee is also an ing’s 70,000 sq ft of factory space was the people who spend their time Ee explains that most of the spaces. To see what was once old advocate for the arts, and was also largely underutilised. there. “How a person’s mind has shape and form of the building’s become new, and to see diff erent previously involved with a thea- Ee decided to turn the industrial been shaped to think, and what structure was maintained, particu- converted spaces coming together tre company called the Footstool space on its head and reposition motivates him in future projects larly the industrial feel, with the while holding on to its narrative Players. APW as a content incubator, which will play a role (in urban regener- exception of the toilets, where Ee — that is my greatest satisfaction,” would include a co-working space ation),” he explains. wanted a fresh look. he says.

FFF 10 FRIDAY OCTOBER 7, 2016 • THEEDGE FINANCIAL DAILY

Artist’s impression of one of Trinity Group’s developments

ocation and convenience may be a top pri- ority for property buyers as they shop for a new home, but value is key to the future of the property market. Holding fi rmly to this belief since day one, Trinity Group Sdn Bhd Lhas successfully completed six projects in the last dec- ade focusing on delivering value-driven homes. Going forward, this homegrown boutique property developer is set to continue doing what it does best: providing af- fordable luxury to the middle-income segment. Despite the general market slowdown in recent years, Trinity Group has been enjoying satisfactory results due to increasing demands for value-added properties. Datuk Neoh Soo Keat, managing director of Trinity Group, explains, “What buyers really want is value. We create all our properties with value-add- ed elements, whether through product innovation or community-building eff orts. That way, buyers get more luxury features without paying a fortune.” With the being a major attraction point for property investors, it has also become a highly-com- petitive market for developers. Nevertheless, Trinity Group is charging full speed ahead with the launch of two new projects in Kepong and Mont’Kiara in 2017. Buyers can expect the same emphasis on value for the new projects, if not more. “Our new projects are built to off er two types of value to buyers. Firstly, value in the monetary sense where the absolute price of the property is aff ordable with steady capital appreciation. Secondly, value in enhancing the overall quality of liv- ing to make a positive diff erence in their lives through facilities and the living environment,” says Neoh. When it comes to developing new projects, it is all about diff erentiation for Trinity Group. Drawing from its expertise in transforming the surrounding envi- ronment of a property, the developer is determined to off er a diff erent lifestyle experience to buyers by homeowners with an aff ordable luxury concept and an launch the project in the market next year, we believe incorporating community and sustainability elements upmarket address. Buyers can look forward to a land- that it will be irresistible due to the overall concept into its projects. scape designed to seamlessly integrate nature, living and value. It will no doubt be another iconic project Plans are already in the pipeline for Trinity Group and community, alongside luxury elements such as a for Trinity Group,” Neoh reveals. to integrate a host of lifestyle concepts into new pro- concierge service off ered at a minimum cost. The Mont’Kiara project has an estimated GDV of jects to improve convenience, accessibility and safe- Buyers who expect a fancy facade for the Mont’Kiara RM500 million, a fi gure which the developer remains ty for buyers, especially for projects that are located project will be disappointed as the developer is focusing conservative about. “We don’t foresee a huge improve- within close proximity to public transportation. They instead on elements that bring long-term value, such ment in the slow property market and we don’t ex- include creating bicycle lanes and designated park- as quality living, space and facilities. For instance, spa- pect to have a 100% take-up rate, but I am confi dent ing bays to encourage residents to cycle as a means tial layouts are designed to eliminate ineffi cient areas, our team will be able to achieve the targeted fi gure,” of transportation for commuting to work or to the making every inch of the home usable. “By the time we Neoh expresses. nearest train station. The developer is also explor- Although the property market has remained soft for ing the idea with local authorities to implement a KENNY YAP / TheEdgeProperty.com the last couple of years, Neoh is optimistic about the self-service bike-hiring system where residents can future. He observes: “The combination of an infl ux of hire a bike, ride it to the train station and return it to newly-completed properties, fall in the ringgit and the the docking station nearby. tightening of property lending policies have contributed Trinity Group has also set its sights on leveraging to the market slowdown. On the bright side, there are technology by equipping buyers with a mobile appli- many opportunities for buyers to get good deals at the cation to monitor the security system in their homes moment and it is a good time to buy. Property prices or to contact emergency services when required. This may start to rebound in 2017 and I foresee the market service is particularly handy for residents who travel will eventually recover in 2018.” frequently for work or leisure. Neoh: We work Ultimately, Neoh believes that having a good brand towards delivering which consistently delivers value, integrity as well as Upcoming projects in Kepong and Mont’Kiara value and quality quality products will enable a company to weather the Most of the new facilities will be included in the up- living experiences to storm. “We always deliver on our promises,” he states. “In coming projects, such as the one in Kepong. With an the buyer fact, I think boutique developers like myself are now on estimated gross development value of RM300 million, par with the big players in the market in terms of building this residential project is strategically located and will quality products. That’s because we work towards deliv- be supported by a plethora of key amenities and con- ering value and quality living experiences to the buyer.” veniences. If the high take-up rate of recent launches In the near future, Trinity Group is gearing up to in Kepong is any indication, Neoh is certain the new unveil three additional projects in the Klang Valley, project will be well-received upon its launch in 2Q2017. namely in Serdang, Ampang and USJ, as well as a res- He points out: “The potential for development in Ke- idential project in London. For now, the developer is pong is growing, especially the expanding middle-in- also focusing its priority on corporate social respon- come segment. With the right concept, right location, sibility and assuming its commitment to not just de- right market and right price, our project will surely be veloping living spaces, but also building communities a hit among the mass market.” and enriching lives. “We are always looking for ways to On the other hand, the upcoming Mont’Kiara project continue engaging with our buyers by supporting com- will be Trinity Group’s fi rst foray into high-end devel- munity-driven projects and philanthropy,” Neoh says. opment. Targeted to launch in 1Q2017, it will be com- “As a developer, we play a role in changing our values petitively priced to entice the emerging middle-market to create a better society for the future.”

FFF 12 FRIDAY OCTOBER 7, 2016 • THEEDGE FINANCIAL DAILY

Artist’s impression

s high-end property prices evade the grow- ing middle-income market, the momentum continues to build for affordable, well- planned housing and it shows no sign of slowing down in the foreseeable future. AAt the same time, the steady rise of high-rise develop- ments has weakened the sense of community in urban areas, especially in the Klang Valley. However, homebuyers who seek aff ordable homes in a community-centric environment need not look further than LBS Bina Group’s latest off ering, Desir- an Bayu. Following the success of its fi rst high-end township D’ Island Residence, a masterpiece water- front development which boasts a selection of luxury homes and high-rise serviced residences, LBS has now The interior of Desiran Bayu show units shifted its focus to entice middle-income homebuyers with Desiran Bayu. on family values and communal living. This is realised ensures residents can indulge in the natural surround- Located in Puchong within close proximity to D’ Island through a host of amenities, including a community ings with total peace of mind. Residence, Desiran Bayu is a leasehold development built hall, playground, multifunction pavilion, jogging track Apart from a modern lifestyle concept, conven- around a 43-acre lake on Malay Reserve Land. Driven by and public gazebo amidst a verdant landscape. ience and connectivity further add to the appeal of the LBS philosophy of building inspiring lifestyle spaces LBS managing director Tan Sri Lim Hock San says: Desiran Bayu. Situated approximately 35km from the that enhance community living, Desiran Bayu combines “LBS has designed the Desiran Bayu project to promote Kuala Lumpur city centre, Desiran Bayu off ers a tran- the luxury of lakeside living with a strong emphasis a communal lifestyle and an ideal environment for fam- quil environment away from the hustle and bustle of ily bonding and relaxation. The development’s strate- the city yet close enough to be within easy reach of a SUHAIMI YUSUF / TheEdgeProperty.com gic location, coupled with its beautiful view of a lake spectrum of facilities and amenities, including educa- and lush green surroundings, will appeal to those who tional institutions as well as medical, recreational and wish to have a modern lifestyle while simultaneously retail facilities. It is also supported by a wide network nurturing a safe and lively community which blends of highways and expressways that connect to various with traditional values.” hotspots in the Klang Valley such as Kuala Lumpur, Spanning 100.08 acres of land, Desiran Bayu com- Petaling Jaya, Putrajaya and KLIA. Lim: LBS has prises 598 units of double-storey terraced, double- Desiran Bayu has a gross development value of designed the storey cluster link and double-storey semi-detached approximately RM384 million and will be developed Desiran Bayu houses. With built-ups ranging from 1,280 sq ft to over six phases, where the fi rst three of six phases project to promote 2,194 sq ft, the homes are designed for young fami- were fully sold within two days of its launch. LBS is a communal lies to raise children in a tranquil environment, while expected to launch Phase 4 in 4Q2016 amidst over- lifestyle and an the spacious layouts comfortably accommodate three whelming response from the market. ideal environment generations of a family under one roof. for family bonding Despite its focus on providing aff ordable homes, For sales and enquiries, kindly contact 1700-81-8998 or and relaxation LBS does not cut corners when it comes to off ering visit www.lbs.com.my for more information. quality living and added-value to buyers. At Desiran Bayu, residents welcome scenic views, cool breezes and lush greenery at their doorsteps as they enjoy the sights and sounds of nature in the comfort of their own homes. Additionally, a gated-and-guarded environment with a round-the-clock security system

FFF 14 FRIDAY OCTOBER 7, 2016 • THEEDGE FINANCIAL DAILY

enang has one of the fastest growing property out, adding that transaction for commercial properties markets in the northern region of Peninsular have taken a nosedive with a drop of 37% and 59% in Malaysia due to myriad factors. It is one of volume and value. “Having said that, the increase in ex- the most developed states in the country with isting housing supply hasn’t quite kept up with the in- strong infrastructure, it’s a booming tourist crease in the number of households in Penang, which Pdestination and it off ers a high standard of living. implies that there is not yet an oversupply situation.” However, in Penang island, elevated prices and rap- Sunway Property has begun to pave the way with id urbanisation in recent years have driven investors’ new projects to fi ll the void for quality homes in Penang. interest to the mainland. With growing demand for The group has zeroed in on Seberang Perai as the next properties that off er aff ordability, accessibility and an development hot spot in the next few years due to its enhanced living experience, Penang mainland is primed strategic location and accessibility. “Sunway is work- as the next property hot spot. ing to augment what it has to support Seberang Perai’s When it comes to delivering integrated townships inevitable growth in line with the state government’s with well-established residential and commercial pro- ambition to develop it into a new tourism and invest- jects in Penang, one name stands out from the rest: ment destination by 2018,” off ers Cheah. Sunway Property. As it gears up for the future, Sunway Property is san- Having made its fi rst foray into the Penang property guine about future prospects in the Penang property mar- market more than two decades ago, Sunway Property, ket. Cheah foresees that the substantial investments into a division of Sunway Bhd, is still going strong with a infrastructure from the Penang Transport Master Plan, string of new and ongoing developments under its belt. which includes fi ve connection points between the island Like many of the group’s successful township develop- and the mainland, and the development of Penang Sentral, ments in Sunway City in the Klang Valley, Sunway City a transportation hub in Butterworth, will bode well for Ipoh and Sunway Iskandar in Johor, Sunway Proper- the economy and the increase of population in the state. ty draws from its expertise in the build-own-operate To cater to the growing Penang market, Sunway is set to expand At the same time, the channelling of foreign invest- (BOO) business model to cater to the needs of current its four-star Sunway Hotel in Seberang Jaya, which currently has ments in transforming Batu Kawan into an industrial and future buyers in Penang. 202 rooms and sits conveniently in the centre of Seberang Jaya base and education cluster with retail and recreational “What buyers want is a property that has it all. We are bringing the best of the integrated community Complementing concept to Penang that allows our community the con- the hotel, Sunway venience to live, learn, work and play in a healthy, safe is also expanding and well-connected environment,” says Sarena Cheah, its existing managing director of Sunway’s property development Sunway Carnival division for Malaysia and Singapore. shopping mall by With approximately 196 acres of undeveloped land a further 500,000 bank in Penang, Sunway Property is in the midst of sq ft and looking at rolling out the master plans for the integrated devel- potentially building opments of Sunway Wellesley Precinct III in Bukit a corporate tower Mertajam and Sunway Valley City in Paya Terubong later on in the near future. In the meantime, Penangites can look forward to the ment exercise. An investment of RM100 million will be attractions as well as housing developments further facelift of Sunway Carnival Mall in Seberang Jaya, which injected into the development to include a facilities fl oor as helps to drive the property market in the mainland. will undergo a three-phase transformation comprising well as to upgrade a wide range of facilities and amenities. For now, Sunway Property has various measures put a shopping mall extension, a refurbishment exercise Cheah observes, “The medical centre will benefi t the in place to ensure the group remains resilient in any eco- and the development of a 10-storey offi ce block. This communities in Penang as well as those from the nearby nomic climate as it pursues future ventures in Penang. undertaking by Sunway REIT spans over 12.33 acres states. With the hotel and mall located adjacent to the Like the refurbishment exercise of Sunway Carnival with 1.5 million sq ft of gross fl oor area for working medical centre to provide connected conveniences, it will Mall and Sunway Hotel Seberang Jaya, asset enhance- and shopping and will also accommodate bowling al- defi nitely help in promoting medical tourism in Penang.” ments will also be a key focus as the group rejuvenates leys and additional food and beverage outlets within In the face of the property market’s current cooling its completed township developments in Penang. “Due the suburban family mall. period, the group is determined to bring the best qualities to the strategic location of our existing townships, we Sunway Property also seeks to recreate the success of the Sunway City concept to create a competitive edge see it as a good opportunity for investors to ride the up- of Sunway Medical Centre in the Klang Valley with the and boost market interest. This includes providing a more side once the location is rejuvenated,” Cheah explains. upcoming development of Sunway Medical Seberang connected community lifestyle for Penangites with a vari- “At the end of the day, the value and quality of living Jaya in 3Q2017. With an investment of RM260 million, ety of property, retail, hospitality, education and medical in Malaysia is still attractive and our property sector does it will be the group’s inaugural healthcare facility in components which complement one another. still appeal to the foreign market with a low entry cost the northern region and will consist of a nine-storey “The volume and value of transactions of residential contributed by the weakening of the ringgit,” she adds. building with 290,000 sq ft of gross fl oor area upon its property are still on a declining trend at a rate of 13% and With a fi rm believe that there are still ample opportuni- completion in 2Q2020. 16%, respectively for 1H2016 in Penang,” Cheah points ties in Penang’s property development landscape, Sunway Concurrently, Sunway Property is set to capture the Property looks set on taking a no-holds-barred approach growing medical tourism market in Seberang Jaya with to cement its reputation as a leading developer in the a new hotel to complement the existing Sunway Hotel northern region in the foreseeable future. Seberang Jaya, which will also undergo a full refurbish-

Artist’s impression of the proposed facelift of Sunway Carnival shopping mall in Seberang Jaya that spans over 12.33 acres with 1.5 million sq ft of gross fl oor area