TEP 4 FRIDAY NOVEMBER 25, 2016 • THEEDGE FINANCIAL DAILY NEWS HIGHLIGHTS from TheEdgeProperty.com

The Edge Property

Waterside Residence at The Light, Penang

Publisher and Group CEO launching soon Ho Kay Tat IJM Land Bhd, the property devel- EcoHill Walk Mall targets opment arm of IJM Corp Bhd, will to open in 1Q2021 Marimo Land begins launch the Waterside Residence construction of O’hako at Th e Light in Penang sometime EcoHill Walk Mall, a neighbour- units across eight blocks, the in December. hood mall at the Setia EcoHill mall and 890 units of serviced Residensi in Bandar Th e Waterside Residence, with township in Semenyih, is expected apartments. Puchong Jaya The Edge Property Sdn Bhd (1091814-P) an estimated gross development to open its doors by the fi rst quar- The development also fea- Marimo Land Malaysia Sdn Level 3, Menara KLK, No 1 Jalan PJU 7/6, Mutiara Damansara, 47810 value (GDV) of RM240 million, is ter of 2021. tures The Gem, offering 23,000 Bhd has signed an agreement Petaling Jaya, , Malaysia the fi rst residential tower of Th e Th e mall is part of the EcoHill sq ft of space earmarked to host with building contractors E&J Light Waterfront phase 2. Walk integrated development by premium entertainment and Group, Ecobuilt (M) Sdn Bhd Situated on a 4.27-acre free- Setia EcoHill Sdn Bhd, a subsid- fine dining outlets. and Pembinaan Infra E&J Sdn Th eEdgeProperty.com hold site, the Waterside Residence iary of S P Setia Bhd. Situated on a freehold 17.5- Bhd to build O’hako Residensi, Managing Director/Editor-in-Chief comprises three residential blocks EcoHill Walk has an estimated acre site, EcoHill Walk is planned a 718-unit condominium project Au Foong Yee of 17, 25 and 33 storeys, housing overall gross development value to meet the retail, lifestyle and at Japan Pipit in Bandar Puchong EDITORIAL 256 units with built-ups ranging of RM900 million. Th e develop- entertainment needs of the com- Jaya, Selangor. Editor Lam Jian Wyn between 1,055 sq ft and 1,270 sq ment comprises 80 units of retail munity at Setia EcoHill. Marimo Land Malaysia is a Contributing Editor Sharon Kam ft. Prices start from RM749,000. joint-venture company set up by Deputy Chief Copy Editor James Chong According to IJM Land north- Marimo Co Ltd president Mako- Senior Copy Editor ern region senior general man- Titijaya plans Lim Soon Peng said the move was to Fukagawa and Marimo Land Shanthi Murugiah ager Datuk Toh Chin Leong, Th e RM2.4 bil aff ordable in line with its business transfor- CEO John Taro. Writers Rachel Chew, Tan Ai Leng, Waterside Residence is expected mation. The parties held a signing Natalie Khoo, Shawn Ng, Lum Ka Kay housing development Art Director Sharon Khoh to be completed by 2020. Th is follows Titijaya’s acquisition ceremony and a ground-break- Design Team Nik Edra, With a GDV of RM6.5 billion, Titijaya Land Bhd plans to enter of NPO Builders Sdn Bhd, which ing ceremony on Nov 20, 2016, to Nurul Aida Mohd Noor, Henry Lee the 103-acre phase 2 of Th e Light the aff ordable housing segment owns two tracts of land measur- kick-start the 4.25-acre freehold For New Launches/Events/ Waterfront also features a mall with a proposed development of ing a total of 18.7ha, in September. project. The units are priced Press Releases/News Tips with a gross retail space of 1.5 RM2.4 billion in gross develop- Th e land would be developed into from RM430,000 to RM630,000 email: [email protected] million sq ft, thematic shops, a ment value in Bukit Raja, Petaling commercial units, serviced apart- with built-ups from 850 sq ft to Tel: 03-7721 8211 Fax: 03-7721 8280 Email: [email protected] convention centre, two hotels of- in Selangor in the second quarter ments and aff ordable units. Th e af- 1,000 sq ft. fering a total of 750 rooms and an of 2017. fordable units will range between ADVERTISING & MARKETING offi ce tower. Its managing director Tan Sri RM300,000 and RM450,000. Head of Marketing and Sales Sharon Chew (012) 316 5628 How do I get past issues of this weekly pullout? Senior Account Managers Cecilia Too (012) 319 7666 Go to TheEdgeProperty.com Jayne Law (016) 929 3309 trending Account Managers to download for free 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 Senior Associate Stannly Tan Time: 10am to 6pm gladiator joust, food trucks Venue: Mandarin Oriental Associate Karen Wong Venue: S P Setia Corporate and other fun activities. Hotel, Parkview 1 Room, HQ, No 12, Persiaran Setia Level 2, For enquiries and listings email: [email protected] Dagang, Setia Alam, Seksyen Contact: (012) 326 3800 GL: (03) 7721 8175/ 8172 U13, Shah Alam, Selangor / (012) 908 6318 Email: [email protected] Contact: (03) 3348 2332 JLL Property Services (Malaysia) S P Setia Bhd will be having will be introducing the John TheEdgeProperty.com pullout is a preview of its Trio by Setia Cabot House apartment project published by The Edge Property Sdn serviced apartment project located in Royal Wharf London to Bhd. It is available with The Edge Country Heights Hi-Tea talk located in Bukit Tinggi, Klang. Malaysians looking for investment Financial Daily every Friday. The on pullout is also distributed at more The project is aimed at fi rst- opportunities in London. than 200 offi ces, shopping complexes, Date: Nov 26 and 27 time homebuyers as well as condos, medical centres, F&B outlets (Sat and Sun) those looking for lifestyle Experience Ice Cream and LRT stations in the Klang Valley. Time: 10am to 6pm (Talk at 2pm) homes in Bukit Tinggi. Wonderland with Mah Sing You can also download it for free at www.TheEdgeProperty.com Venue: Grand Salon, Palace of Date: Dec 2 to Jan 3 (Fri to Tues) the Golden Horses, Jalan Kuda Picnic in the park: Movie night Time: 12pm to 5pm Emas, Mines Wellness City, under the stars Venue: Star Avenue Lifestyle Th e Edge Malaysia , Selangor Date: Nov 26 and 27 Mall, No 3, Jalan Zuhal U5/179, EDITORIAL Contact: (017) 487 4872 (Sat and Sun) Pusat Komersial Arena Bintang, Editor-in-Chief Azam Aris / (019) 600 2233 Time: 2pm to midnight, Seksyen U5, Shah Alam Showcase of Greenfi eld CORPORATE Project marketing agent movie starts at 8pm Contact: (012) 527 7646 Residence @ Bandar Sunway Chief Operating Offi cer Lim Shiew Yuin Knight Frank Malaysia will be Venue: Setia City Park, No / (012) 710 0873 Date: Nov 25 to 27 (Fri to Sun) ADVERTISING & MARKETING Chief Commercial Offi cer introducing the new development 7, Persiaran Setia Dagang, Mah Sing Group will be Time: 11am to 7pm Sharon Teh (012) 313 9056 Mines Wellness City which Bandar Setia Alam, Seksyen organising a month-long “Ice Venue: KL Convention Centre, General Manager features offi ce suites, serviced U13, Shah Alam, Selangor Cream Wonderland” event to Jalan Pinang, KL City Centre Kingston Low (012) 278 5540 Senior Sales Managers apartments and a retail mall. Contact: 1300 13 2255 celebrate the festive season. Contact: (03) 8082 1355 Fong Lai Kuan (012) 386 2831 There will be a special talk on S P Setia Bhd invites Citizen Cicet Asia Development Gregory Thu (012) 376 0614 the offi ce rental market at 2pm. Setia members for a Fox Showcase of John Cabot will showcase its Greenfi eld Kamalesan Parama (012) 394 4855 House in London Michael Tan (012) 213 0252 Movies Awesome Weekend condominium project which Creative Marketing Preview of Trio by Setia at Setia City Park. There will Date: Nov 26 and 27 off ers residential suites with Chris Wong (016) 687 6577 Date: Nov 26 and 27 be outdoor movie screenings, (Sat and Sun) built-up sizes ranging between Head of Marketing Support & Ad Traffi c (Sat and Sun) bungee trampoline, zorbing, Time: 11am to 6pm 581 sq ft and 1,302 sq ft. Lorraine Chan (03) 7721 8001 Email: [email protected]

TEP 6 FRIDAY NOVEMBER 25, 2016 • THEEDGE FINANCIAL DAILY NEWS First block of JKG Land’s The Era Duta North 50% booked in two weeks

PATRICK GOH / TheEdgeProperty.com BY TAN AI LENG Teh added that the company has received over 5,000 registrants, online and offl ine, KUALA LUMPUR: Kedah-based develop- within one month of introducing the 2,913- er JKG Land Bhd’s fl agship development unit serviced apartment project located on in the Klang Valley, Th e Era Duta North, Jalan Segambut, Kuala Lumpur. has received encouraging response with Th e Era Duta North is slated to be offi - 50% of its 470-unit Block A booked within cially launched in the fi rst quarter of 2017 two weeks. pending approval from the authorities. “We are quite surprised by the public re- Th ose who have expressed their interest sponse in this subdued market. When our or booked will have priority to purchase sales gallery opened its door two weeks ago, the units, he said. quite a number of interested buyers walked Th e Era Duta North is the maiden devel- in and registered their interest,” its manag- opment of JKG Land, which is owned by busi- ing director Datuk Teh Kean Ming told Th - ness tycoon Tan Sri Robert Tan Hua Choon eEdgeProperty.com after a preview event who is also the chairman of the company. of the project yesterday. The 14.86-acre freehold mixed devel-

JKG LAND

01

01 (From left) JKG Land executive deputy opment comprises six serviced apart- “Futhermore, we are planning to build chairman Chuah Chin Ah, executive ment blocks of 53 to 63 storeys on top of a link bridge across Sungai Keroh to Jalan director Thor Poh Seng, Teh, director a 3-storey 277,000 sq ft retail podium and Putramas which could provide convenience Datuk Seri Eddie Tan Han Chuan, an 8-storey car park podium. It has a gross to the residents to drive from Th e Era to the Robert Tan and Puan Sri Ong Poo Choo development value of RM2.1 billion. Solaris Dutamas area,” he said. offi ciating the launch of The Era Duta Th e fi rst two serviced apartment blocks He envisioned the Segambut area will North sales gallery. are expected to be completed by 2020. gradually evolve into a more vibrant area Th e serviced apartments have built-ups as more development takes place. 02 Artist’s impression of The Era Duta ranging between 631 sq ft and 1,300 sq ft, “Segambut is an old area, we will be the North. with an estimated average selling price of fi rst [developer] to revitalise this underserved RM600 psf. area especially for those who are looking Teh noted that the project’s freehold ten- for an upgrade as well as existing residents ure and strategic location have attracted the who want to purchase a unit for their chil- attention of interested buyers. dren,” he added. 02 Chance to win free tickets to Joey Yap’s Feng Shui & Astrology 2017 seminar

BY NATALIE KHOO TheEdgeProperty.com readers can par- register their entry. This contest is open to all Malaysian ticipate in a contest to win free tickets Participants will have to ask Yap a feng- residents, and there is no limit to the PETALING JAYA: TheEdgeProperty.com worth RM168 each to the seminars by log- shui related question and those with the number of questions that can be posed. readers will get the chance to win 250 free ging on to www.theedgeproperty.com and most interesting questions will be chosen However, do take note that each winner tickets to Datuk Joey Yap’s Feng Shui & clicking on the banner, “Joey Yap’s Feng to win two tickets to the event of their is entitled to two tickets only. Astrology 2017 live seminars to be held in Shui & Astrology 2017 Live Seminar,” to choice. Up for grabs are 100 free tickets and 50 Penang and Kuala Lumpur. free tickets, respectively, for the English Focusing on what’s in store in the com- and Cantonese sessions in Kuala Lum- ing Year of the Fire Rooster, the Malaysia pur while the Penang session will off er leg of the seminar will kick-start on Dec 18 100 free tickets. in Penang (in English) at Hotel Equatori- Th e seminars in Penang and KL will be al Penang, followed by the English and held from 10am to 5pm. Th eEdgeProperty. Cantonese sessions in KL on Jan 7 and 8, com is the offi cial media partner for the respectively, at the Kuala Lumpur Con- seminars in Malaysia. vention Centre. Yap will also be speaking at other in- Yap is an established Chinese Metaphys- ternational locations including Singapore, ics consultant and bestselling author of Manila and San Francisco. more than 160 books that have sold more than four million copies worldwide. He is the chief consultant of the Joey Yap Con- sulting Group and founder of the Mastery Academy of Chinese Metaphysics. Yap contributes a regular feng shui column to Th eEdgeProp- WIN erty.com. Each year, Yap speaks to more than 30,000 attendees free in this signature event held in major cities across the world. tickets It is touted to be the largest Chinese Metaphysics event in the world. Visit www.TheEdgeProperty.com to fi nd out how FRIDAY NOVEMBER 25, 2016 • THEEDGE FINANCIAL DAILY TEP 7 NEWS First phase of GreenAcres Retirement Village to be completed next year

BY RACHEL CHEW is slated for completion by 2020. lose control [of the project] in the Th e fi rst phase comprising 26 future. Can you imagine if an own- KUALA LUMPUR: Th e fi rst phase units of villas will be completed by er were to resell it to a non-sen- of the GreenAcres Retirement mid next year, said Total Investment ior resident or pass it to his or her Village in Ipoh, Perak will be com- executive director John Chong. children. Eventually, GreenAcres pleted and delivered to its tenants “Th e 26 villa units [in the fi rst will no longer be a real retirement next year. phase] are open for lease and so village,” Chong explained. Located in Meru, Ipoh, far 16 have been booked. Half of Th e villas in phase 1 come in four GreenAcres Retirement Village is the future tenants are locals [from layout designs from 1-bedroom to said to be the fi rst retirement village Ipoh] and the other half are from 2-bedroom types with built-up are- development in Peninsular Malay- different states such as Penang, as ranging from 734 sq ft to 1,105 sq sia. Th e 5-phase development by Selangor, Kuala Lumpur and ,” ft. Th e leasing deposit ranges from Total Investment Sdn Bhd was fi rst said Chong. RM300,000 to RM452,000. unveiled in 2014. Th e units are for lease and only Th e life-long leasing deposit is Th e 13-acre project carries an for those who are 55 years old and for one couple in one villa. Tenants estimated gross development above. will not need to pay any monthly 01 value of between RM70 mil- “We will have apartments rent after that. However, tenants will lion and RM80 million. It and landed units in this 13- need to pay the monthly utility fees 01: Villas in phase 1 will be completed mid of next year. acre development. Although and maintenance fees of 47 sen psf. we can make better profi ts “Let’s say a couple chooses the 02 : An artist’s impression of GreenAcres Retirement Village. Siew (left) and Chong. by selling the units, we may RM300,000 unit, they can stay in the

GREENACRES fully-furnished home for life. If they out. Th ere is also a panic button in decide to move out earlier, we will each unit. It is not an old folks home refund part of the leasing deposit and no one is under surveillance. according to the property market Residents have the freedom to go price at that time. Our earnings anywhere in or out of the village stream is from the maintenance and have guests for short stays,” and management fees,” Chong said. said Chong, adding that besides the Th e fi rst phase also has a club- age requirement of 55 years old and house, which will house facilities above, one must also be mobile. like a restaurant, lounge area, mini Founder of GreenAcres and cinema, karaoke room, gym, hall, co-founder of Total Investment games and reading room, wellness YL Siew said for those who need programmes and village shuttle more medical care and who are service. Excursion activities will less independent, GreenAcres will also be planned. be developing an aged-care facility The second phase will com- under phase 5. prise low-rise apartments, which “Medical staff will be stationed are planned for launch sometime 24/7 in the facility for instant treat- next year. ment. Besides that, there is a private “Our villas and apartment units hospital across the road from the are elderly-friendly in terms of lay- retirement village,” she said. KENNY YAP / TheEdgeProperty.com 02 Dear homebuyers, it is time to seek out discounted properties

HARIS HASSAN / TheEdgeProperty.com BY LUM KA KAY ed residential projects in KL which (From left) UBS have shown the largest reductions KUALA LUMPUR: With the cur- Securities Malaysia from their peak transacted pric- rent economic and property mar- associate director es since 2012 are Suasana Sentral ket slowdown, there are oppor- for equity research Condominium at KL Sentral, Ser- tunities now for investors to fi nd Edwin Siow, Ong, ingin Residences at Kuchai Lama “discounted” properties. UBS AG executive and St Mary Residences in the KL Th eEdgeProperty.com’s product director and senior city centre. and business development director economist for Asean Citing data from Th eEdgeProp- Alvin Ong believes opportunities and India research erty.com and National Property still abound for those looking to Edward Teather, Au, Information Centre, Ong noted invest in the property market. UBS AG associate that based on transactions from “We’re seeing the end of the economist for Asean 2012 until 2Q2016, the transacted ‘boom cycle’ where income growth and India research price of Suasana Sentral Condo- will slow as [Malaysia’s] gross domes- Alice Fulwood and minium has dropped from a high tic product slows. We expect liquid- UBS Securities of RM1,287 psf to RM680 psf and ity to remain tight due to the high Malaysia executive below in 1H2016, while Seringin household debt. In other words, the director and head of Residences has dropped from a short-term outlook for the economy equity sales May Lee high of RM692 psf to RM508 psf and will not be good. However, I believe after the talk. below. Th e transacted price of St there’s always a silver lining,” he said. Mary Residences has also dropped For property investors, one can from its peak of RM1,709 psf to go for properties near or with easy “Another way is to look at dis- (Nov 23). Also present at the event lower prices than before the slow- RM1,205 psf and below over the access to upcoming infrastructures counted properties,” he said dur- was Th eEdgeProperty.com man- down and in KL a few high-rise last four years. such as the light rail transit, mass ing his presentation on the Malay- aging director and editor-in-chief residential properties have seen “Th ese are a few examples but rapid transit, East Coast Rail Link sian property market at UBS Macro Au Foong Yee. their prices in 2016 discounted. it shows that with proper research, and Kuala Lumpur-Singapore High Day organised by UBS Securities According to Ong, there are Based on TheEdgeProperty. it is possible to fi nd good deals,” Speed Rail. Malaysia Sdn Bhd on Wednesday greater opportunities to buy at com’s analysis, among non-land- concluded Ong. TEP 8 FRIDAY NOVEMBER 25, 2016 • THEEDGE FINANCIAL DAILY COVER STORY

he Taman Tun Dr Ismail town- in 1970 by the second prime minister of Ma- 75ft. Th e township was fi rst developed by a RM700 to RM800 psf price range. However, ship, more fondly known as laysia, Tun Abdul Razak Hussein. Sadly his joint-venture company between the Urban 2016 has seen a marked slowdown in the TTDI, is one of the most afflu- service was cut short by a fatal heart attack, Development Authority, the government’s overall property market and the average ent and historical townships in only after three years in offi ce. arm for urban planning and redevelopment, transacted price for terraced houses in TTDI Kuala Lumpur. Situated at the Roads in TTDI have also been named af- and SEA Housing Corp Sdn Bhd, a private refl ected that, with the average transacted border of KL and Selangor’s ter men who have made exceptional contri- development company, and covers 286ha price down 17% to RM665 psf in 2Q2016 TPetaling Jaya, it neighbours other vibrant butions in various fi elds including politics, of old rubber estate land. from RM801 psf recorded during the same locales such as Bandar Utama, Mutiara Da- language and education. Th e roads include According to data from Th eEdgeProperty. period last year. mansara and Damansara Utama. Jalan Wan Kadir, Persiaran Zaaba and Lorong com, the highest average transacted price of In terms of absolute price, the high- TTDI derived its name from Malaysia’s Rahim Kajai, just to name a few. terraced homes in TTDI was RM810 psf in est transacted price of terraced homes in second deputy prime minister (DPM) Tun The housing in the township is made 4Q2015, up a whopping 35% from RM600 the township was recorded in 4Q2015 at Dr Ismail Abdul Rahman. Lauded as “the up mainly of terraced homes, both sin- psf a year earlier in 4Q2014. RM1.57 million, up 3.3% y-o-y from RM1.52 man who saved Malaysia” during the May gle-storey and double-storey with a mini- Prices of terraced houses were hovering million a year earlier. Th e latest data by Th - 13, 1969 episode, in his role as Home Min- mum built-up area of 1,200 sq ft and 2,000 between RM500 and RM600 psf from 2012 eEdgeProperty.com in 2Q2016 showed that ister, he was thereafter appointed as DPM sq ft, respectively, and land area of 22ft by to 2014 and subsequently moved up to the the terraced homes were transacted at an average absolute price of RM1.25 million, a drop of 20.4% from an average absolute price of RM1.57 million in 2Q2015. According to the principal of Synergy In- ternational Realtors, Terry Wong, the initial launch prices for homes in TTDI diff er as diff erent phases of TTDI were launched at diff erent times. “On top of that, double-storey terraced houses at diff erent sections of TTDI, such as Lorong Aminuddin Baki, Lorong Rahim Kajai, Jalan Athinahapan, Jalan Datuk Su- Future laiman and Persiaran Zaaba have diff erent designs and layouts,” says Terry. Terry cites some examples where a 2-storey terraced home at Persiaran Zaa- ba was priced at RM30,000 in 1975, while a single-storey terraced home at Lorong looks Aminuddin Baki was priced at RM35,000 and a 2-storey terraced home on Jalan Athi- nahapan was priced at RM200,000 in 1980.

Single-storey terraced houses are sizzling bright for “In 1975 and 1976, the developer’s selling price for 1-storey terraced houses in TTDI was about RM34,000 to RM37,000 for units BY NATALIE KHOO with a land area of 1,916 sq ft. Today, on av- erage, the 1-storey terraced houses are trans- acted at about RM1 million and if it has been renovated or extended, the price is around RM1.25 million,” says VPC Alliance (Malay- sia) Sdn Bhd managing director James Wong. Investors and homeowners in the area have seen extremely fruitful returns, James adds. “For example, in 2010, a 1-storey ter- raced house with a land area of 1,760 sq ft was sold for RM550,000. Today, the aver- age transacted price for 1-storey terraced TTDI homes is at RM1 million, an increase of 82%,” James elaborates. “Th ere is limited supply and strong de- mand for terraced homes here particular- ly the 1-storey terraced homes. Currently, to maximise profit and scarcity of land, developers will build high-rise residential developments,” James adds. Meanwhile, a 2-storey terraced house with a land area of 1,798 sq ft was trans- acted for RM765,000 in 2010 and today it is transacted at an average price of RM1.3 million, an increase of 69.9%, says James. James also notes that the rental rates for 1-storey terraced homes in TTDI have

TheEdgeProperty.com grown slightly from between RM1,500 and RM1,700 per month in 2014 to between RM1,900 and RM2,000 in 2016.

PATRICK GOH/ PATRICK Meanwhile, according to Th eEdgeProp-

Average transacted price psf Transacted volume of terraced houses in TTDI of terraced houses in TTDI 255 1,01 000 22 20 21 22 810 202

ume um 19 19 801 773 18 800 15 7044 vol 16 f 16

s 708 707 n 14 654 665 13 13 632 627 12 RM p 600 594 679 10 11 11 600 649 9 606 600 8 576 Transactio 5 7 536

400 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 2012 2012 2012 2012 2013 2013 2013 2013 2014 2014 2014 2014 2015 2015 2015 2015 2016 2016 2012 2012 2012 2012 2013 2013 2013 2013 2014 2014 2014 2014 2015 2015 2015 2015 2016 2016 FRIDAY NOVEMBER 25, 2016 • THEEDGE FINANCIAL DAILY TEP 9 COVER STORY

SYNERGY INTERNATIONAL REALTORS SOURCE: TheEdgeProperty.com | GRAPHICS: HENRY LEE centre is also thriving with many restaurants and cafes, banks, grocery stores and other A journey back in time. Do you know? businesses. Besides the very popular TTDI fresh market, there are other supermarkets such as Hero Market and other mini marts TTDI was named after in the area. Tun Dr Ismail Another plus point is that TTDI sits on , freehold land. James notes that based on Abdul Rahman VPC Alliance’s analysis of the Valuation and second deputy prime minister of Property Services Department’s record on Malaysia the ownership of TTDI residential homes, Prices of 1-storey terraced most homeowners are professionals, con- JALAN DATUK SULAIMAN homes in the 70s were priced at sultants, entrepreneurs, expatriates, senior POSKOD 60000 KUALA LUMPUR RM34,000 - RM37,000 executives of public listed companies and non-listed companies, as well as senior Terry: The population mix may change in the government servants. Roads in the township were named future as the pioneer property owners may want Meanwhile, Terry concurs that TTDI is after exceptional men from the to cash out. an affl uent neighbourhood with a KL ad- education, language and political fields dress but away from the hustle and bustle KENNY YAP / TheEdgeProperty.com of the city. “Th e population mix may change in the future as the pioneer property owners may want to cash out while many of the younger What’s so great about TTDI? generation and expatriates want to reside in this affl uent neighbourhood. Freehold status Near to plenty of amenities “Th ere was a surge in demand when the and connectivity mass rapid transit (MRT) line work com- menced with the confi rmation of a station within TTDI,” Terry notes.

MRT impact on TTDI rents TTDI is set to see the operation of a new MRT station among the 31 stations on the Sungai Buloh-Kajang Line this Dec 31. According to Terry, the impact in terms of property sale prices has been felt since the James: Investors and homeowners in the area have announcement of the MRT Line a couple New MRT station set seen extremely fruitful returns. of years ago and since then property prices have more or less stabilised. to open year end “Several new condo projects were being launched at that time. Th e Greens @ TTDI erty.com’s data, non-landed residential developed by Bellworth Development Sdn properties in TTDI saw average transact- Bhd, which was launched at RM700 psf will benefi t in terms of value and rentals,” the number of transactions remains stable. ed prices peak in 2Q2015 at RM693 psf, up in 2012 and completed in 2014, set a new says James. However, commercial properties here take 26.5% y-o-y from RM548 psf in 2Q2014. In benchmark for high-rise residential prop- Besides the MRT Line, the new under- longer to transact,” he adds. 2Q2016, the price was RM578 psf, down erty prices within TTDI,” Terry explains. pass towards Bandar Utama at the TTDI “Human traffi c will increase as the new 16.6% y-o-y. “With the upcoming commencement of interchange which was completed mid- MRT stop will bring in outsiders to this lo- Transaction volume for non-landed resi- the MRT Line, property owners have been 2012 has also improved the traffic flow cation. Single-storey terraced homes sold dential properties has also dropped from the steadily asking for a slightly higher rental into the township tremendously. may be extended to two storeys in certain 40-odd units every quarter back in 2012/13 for both residential and shopoffi ces. We However, there is a desperate need for sections of TTDI to accommodate the pop- and has been hovering in the 10s and 20s have been experiencing a steady increase more parking facilities in the area, says ulation increase,” says Terry. since then. Th eEdgeProperty.com’s data in demand for rental property here recent- Terry. “Insuffi cient parking bays has always “In the long term, given the proximity to showed only six transactions in 2Q2016 ly,” reveals Terry. been an issue and the local authority should the KL city centre, new developments within compared with 26 transactions in 2Q2015. However, in terms of prices, he does not plan for a multi-storey carpark on suitable TTDI and its surrounding neighbourhoods foresee much change due to the current soft sites. Th e local authority should also have such as Glomac Neo, and the upgrading of Da- The pull factors economy coupled with banks’ stringent foresight in this issue and enforce specifi c mansara Uptown coupled with its surround- According to James, one of the reasons TTDI borrowing guidelines. requirements for parking spaces in their ing amenities, TTDI will continue to prosper has remained attractive to homebuyers is “Prices have already appreciated since approval for new projects, especially offi ce and will defi nitely attract maybe even foreign its accessibility, connectivity and surround- the MRT announcement and the actual buildings,” he says. buyers and multinational corporations to set ing amenities. commencement of work for the TTDI MRT up home here,” Terry concludes. “It is close to popular commercial devel- station. Potential vendors might still want TTDI will continue to perform well opments such as Shopping Centre to take the opportunity to seek a higher Both Terry and James agree that TTDI’s in Bandar Utama, the Curve, Tesco and IKEA price but aff ordability has always been a housing prices can still appreciate in future in Mutiara Damansara, KPJ Damansara concern. Nevertheless, it always comes although the current market slowdown has Specialist Centre and Tropicana City Mall. down to a “willing buyer willing seller” sit- impacted transactions and prices. “It also has wide roads within the town- uation,” says Terry. However, although the general property ship which leads to the Damansara-Puchong VPC Alliance’s James also believes that market is soft, being a mature neighbour- Highway, New Klang Valley Expressway, as an upper-middle-class residential estate hood, residential properties here continue Penchala Link and Jalan Damansara,” says with each household owning two or more to be in demand, says Terry. James. cars, the MRT Line will have minimal im- “Th is is provided the prospective vendor Th ere are also several schools in the vi- pact on TTDI’s residential property prices. or landlord asks for a reasonable price. TTDI cinity such as SK Taman Tun Dr Ismail 1 and “Nevertheless, commercial developments landed properties are usually for own occu- SMK TTDI Jaya. Th e township’s commercial such as shopoffi ces and offi ce buildings pation and not for speculation and as such,

SOURCE: TheEdgeProperty.com Average transacted price psf of Transacted volume of non-landed Highest transacted price of non-landed properties in TTDI properties in TTDI terraced homes in TTDI 800 50 46 46 649 773 679 40 43 2016 1,486,250 700 40 801 38 35 34 2015 1,577,308 sf 8100 30 32

p 31 600 ar M 600 707

26 e R 654 26 2014 665 23 Y 1,522,308 6066 704 20 20 536 632 17 500 594 15 15 2013

Transaction volume Transaction 1,160,714 708 10 12 600 576 627 6 2012 1,231,722 400 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 0 500,000 1,000,000 1,500,000 2,000,000 2012 2012 2012 2012 2013 2013 2013 2013 2014 2014 2014 2014 2015 2015 2015 2015 2016 2016 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 2012 2012 2012 2012 2013 2013 2013 2013 2014 2014 2014 2014 2015 2015 2015 2015 2016 2016 Average transacted price (RM) TEP 10 FRIDAY NOVEMBER 25, 2016 • THEEDGE FINANCIAL DAILY FEATURE Good Internet connection essential for homebuyers

BLOOMBERG BY LUM KA KAY “Technology improvements, in- cluding fast, reliable Internet, have aving a superfast meant that working from home is a broadband connec- viable option for many, potentially tion or good mobile cutting down on both commuting coverage is equal to time and costs. Th is is likely to be a good view when it particularly relevant for buyers in comes to what buy- more rural property markets,” said Hers look for in a prime property, Knight Frank Research associate according to international real es- Oliver Knight. tate firm Knight Frank LLP’s Buyer Besides good connectivity, priva- Survey. cy and security (67%) and having a Th e Buyer Survey, published in garden or access to land (67%) were Knight Frank’s inaugural Winter still considered the most important 2016 Country Review, tracks the attributes of a new home cited by the views of over 500 buyers active in respondents of the survey. the prime market in the UK. Th e survey also revealed that Th e survey results showed that quality of life (43%) is the prima- some 61.4% of respondents said ry motivating factors for moving, good Internet connectivity and followed by upsizing (29%), down- phone signal were important to sizing (26%), more land or a bigger them when moving house. garden (23%), long-term capital Th is compares to 60.8% who said growth (14%), and others. the same about a good view. “London buyers were much “In an age of Wi-Fi, tablets and more likely to cite long-term capital streaming, it is unsurprising that fast growth as a motivation for buying and reliable Internet access is seen (23%) compared with those else- as a necessity among home movers. where in the UK (10%), perhaps On preferred locations, some 30% of respondents said the preferred location of their next home was in a city.

refl ective of the strong growth seen 2016, down from a peak of 5.2% in in the capital following the fi nancial mid-2014. crisis,” said the report. “While this fi gure suggests that On stamp duty, some 41% of the market has been relatively sub- prime buyers have reduced their dued, the slowdown in price growth budget and a further 14% plan to is just a refl ection of a market adjust- stay in their next property longer ing to a series of tax changes and, to as a result of changes to the stamp a lesser extent, economic uncertain- duty in December 2014 and more ty resulting from the recent vote to recently, April 2016. leave the European Union. On preferred locations, some “Th e wholesale reforms to stamp 30% of respondents said the pre- duty announced in December 2014, ferred location of their next home and the subsequent introduction was in a city. Th e majority (35%) of a 3% surcharge for individuals however would like to move to purchasing additional properties, a village while only 19% prefer a have succeeded in making buyers countryside location. more price sensitive, and this has Meanwhile, the report also re- been factored in to asking pric- viewed the performance of the es and offers, something which prime country market across 2016 is confi rmed by the results of our where price growth currently stands exclusive buyer survey,” said the at 0.5% over the year to September consultancy.

SOURCE: KNIGHT FRANK | GRAPHICS: TheEdgeProperty.com

TEP 12 FRIDAY NOVEMBER 25, 2016 • THEEDGE FINANCIAL DAILY FUTURE & BEYOND

KENNY YAP / TheEdgeProperty.com Creating places that stand the test of time

an a small change really make a big difference? “Yes,” replied Arkitek LLA director Laurence Loh regarding the impact of a building on its surrounding en- vironment. Top: Penang has the CHe cited the Cheong Fatt Tze Mansion potential to become a in George Town, Penang as an example of top sustainable city. a small project that has made signifi cant impact on the locality. “It was a catalyst in area regeneration, giving new life to the area. It [the resto- ration] can even make an impact locally, nationally and internationally,” said Loh at the Future Forward forum organised by Rehda Youth (the youth section of the Real Estate and Housing Developers’ Associa- tion Malaysia) on Sept 29, 2016. Th e event Left: Old buildings should not be left was organised in partnership with Nippon behind amidst development. Paint Malaysia. Loh emphasised that place-making should be Loh is also a director at Th ink City Sdn adopted as part of the a priori planning approach. Bhd, a community-based urban regeneration age Site and one of the world’s top islands to body that spearheads urban regeneration in visit, Loh believed Penang will make it into the George Town Unesco World Heritage the world’s most sustainable cities list soon. Site, and is now expanding its initiatives It is important that a city is sustainable, to Kuala Lumpur, Butterworth and Johor green and liveable, he said, adding that Bahru. It is a wholly-owned subsidiary of place-making has emerged to be another Khazanah Nasional Bhd. key factor for sustainable city development. “All these [area regeneration] are car- “Sustainable development that is based ried out with the focus on place-making. on place-making that respects the history of Place-making is designing for real people. It a place means happier residents. If you take is an approach to shape projects, be it new a look at Monocle’s 2016 World Top 25 Cities or old, to become meaningful and sustain- list, you will fi nd they share certain things able places with soul, even in the face of in common such as they adopt place-mak- change,” Loh shared. ing, leaving no old building behind in their As a case in point, he cited a Th ink City development,” he noted. project in Penang where while doing resto- In the list, Tokyo is ranked No 1 because it ration work for an old building to regenerate balances high-tech effi ciency with laidback, an area, hawker stalls in the area were re- traditional neighbourhood values. tained because they are key in keeping the Loh also singled out Madrid, which came area’s spirit alive and kicking. in at No 4 on the list. In Madrid, centuries-old He also emphasised that place-making food joints are still being kept alive by young- should be adopted as part of the a priori er owners committed to preserving the city’s planning approach. culinary heritage. “How did they [Madrid] “In order to create places with soul for real do that? Because it is fi nancially viable! Our people, we all should learn a lesson on the nasi lemak uncle will not be displaced if it importance of place-making from Komtar, is fi nancially viable too!” he said. Penang. Th e unfi nished urban regeneration He also used Hong Kong, ranked number area had been abandoned for years until 18 on the list, as another example of a city now,” Loh said. Komtar was planned to re- that has retained its place-making elements. place the 19th century neighbourhood with “Th e Hong Kong night life is vibrant be- three 17-storey residential towers and a sin- cause there is a diverse and well-kept supply gle luxury hotel tower. “Instead of providing to meet the demand of its nocturnal citizens homes for the residents who were cleared amidst rapid city development. Put this back for the project, Komtar ended up displacing into the Malaysian context. Would our city some 3,175 residents, plus numerous pet- be as lively if our street stalls were displaced ty traders and small businesses which had for development?” he asked. been there for years,” he added. Loh concluded that Penang as a histori- Some of the historic buildings and en- cal city with a vibrant modern lifestyle has claves that had to make way for the Komtar the potential to become one of the world’s building were the Chung Hwa Confucian top sustainable cities as long as people and High School, Almashoor Islamic School and tors: sociability; uses and activities; access Penang, the world’s next top man-made spaces continue to retain their English School, Capitol Th eatre, Royal Th ea- and linkages; as well as comfort and image. sustainable city identities and actualisation of their poten- tre, Great World Park, a historic fi re station, Th ese are also the principles of place-mak- Penang has often been ranked among the “top tials in the place-making process. Rickshawn Badge-Nailing Building, Max- ing,” he elucidates. 10 islands to see before you die” by media or- well Road, Cheong Fatt Tze Road, Sia Boey Urban regeneration is made easier today ganisations including CNN and Yahoo. Th is IN COLLABORATION WITH Wholesale Market and some 300 shophouses. with the help of forward-looking players is something Malaysians should be proud of. Th ere were other urban regeneration at- in the building and construction industry Besides carrying out area regeneration tempts in Penang, some of which have been including coatings expert Nippon Paint via place-making, Th ink City is also pro- abandoned until today, Loh said. Malaysia. By anticipating needs and envi- moting Penang via the restoration of old A place does not need modern buildings sioning the future, it constantly adds to its buildings, bringing them into the “now” or a massive project in order to shine. “A vast range of cutting-edge solutions to meet and into the future. great place is a combination of four key fac- market needs. With George Town being a World Herit- FRIDAY NOVEMBER 25, 2016 • THEEDGE FINANCIAL DAILY TEP 13 DEALMAKERS Destined for a life in real estate

BY LUM KA KAY Lim also recalls working by Tan Sri Lee plot of development land to IOI Properties, Lim adds that during the recession in Shin Cheng’s side, the executive chairman and today that piece of land has been de- 1998/99, neighbouring countries such as eal estate consultant Lim Eng of IOI Properties, whom Lim regards as veloped into Puchong Jaya. Lee managed Singapore and Hong Kong took notice of Chong stumbled into the real his mentor. to see the big picture back then, and look Malaysian properties. estate industry during his uni- “I learnt a lot from Lee when I was at at what it has become today,” he recounts. “So although it was a recession, we were versity years and has never IOI Properties. He is a man with foresight, Having been in the industry for more fortunate to have foreign clients to support looked back since. not to mention a good manager. than three decades, Lim’s advice for bud- the business. Even in the late 80s, we did “After high school I wanted “After establishing Henry Butcher Ma- ding real estate agents and negotiators is a few hundred million ringgit worth of Rto take an accounting or business man- laysia, the first major deal I did was to sell a to “work hard and persevere”. sales,” he adds. agement course. But I didn’t get it from “[Working in a] real estate agency is As of today, Henry Butcher Malaysia has the university that I applied for — the Na- one of the toughest business- 26 offices across Malaysia tional University of Singapore — and got es. You can work hard and and over 500-strong staff. offered a Bachelor’s Degree in real estate chase a deal but it may not Lim is grateful that all of management instead,” Lim, the founding happen or close in the end. the partners who started director of Henry Butcher Malaysia Sdn Hard work and perseverance Henry Butcher with him Bhd tells TheEdgeProperty.com. go hand in hand. They [estate Lim’s advice for from day one are still with Lim recently received the Lifetime agents] must also be able to the company today. Achievement Award at the National Real adapt to changes. budding real Upon exiting its London Estate Awards 2016 organised by the Ma- “The rise of social media estate agents and Australian business laysian Institute of Estate Agents (MIEA). has somehow changed the units that were acquired “I couldn’t quite believe it [winning way estate agents work. De- and negotiators by international real es- the award]. Maybe because I have a lot of spite this, real estate agents is to ‘work hard tate firm JLL in 2014, Lim white hair, that’s why I got it,” he quips. will still have a major role in then turned his attention to Before founding Henry Butcher Ma- facilitating a property deal and persevere’. other international project laysia back in 1987, Lim had stints in the because buying and selling marketing in Malaysia and, Ministry of Finance’s Department of Val- properties is very technical currently, he is very much uation and Property Services, I&P Group and many people will need involved in marketing high- Sdn Bhd, Aik Hwa Holdings Bhd, Talam to rely on the advice of a end condos in Bangkok. Corp Bhd (now known as Talam Trans- good agent,” he says. “Properties in Bangkok form Bhd), as well as IOI Properties When asked about are rather affordable. It is Group Bhd. major challenges that he has faced, a thriving, energetic and vibrant city,” “In 1987, a friend from Singa- Lim was rather sheepish about it. he says, adding that based on local reg- pore came to me saying he want- “To be honest, I consider myself ulations, foreign property investors can ed to establish Henry Butcher in lucky because the industry has been only purchase strata-titled properties in Malaysia. At the age of 35, I saw kind to me. It has somehow been a Thailand. the opportunity to strike out on smooth sailing journey for me so far. Lim notes that investors from Singa- my own and that’s how I start- Yes, there were difficulties along the pore, Hong Kong, China and Taiwan are ed Henry Butcher Malaysia,” way but nothing especially major,” also investing in Bangkok properties due he shares. he shares. to their strong currency rates. PATRICK GOH | TheEdgeProperty.com

LURKING ENEMIES IN YOUR HOME GARDEN Mosquitoes — the number one killer

SOURCE: TheEdgeProperty.com | GRAPHICS: HENRY LEE BY RACHEL CHEW How to prevent? t is common knowledge that Southeast Asians are highly tolerable to pests such Install mosquito Eliminate mosquito as cockroaches, ants and other creepy netting on all breeding grounds crawlies. windows and — remove stagnant water, discard In fact, some are even farmed to be doors any rubbish or dried leaves, cover all eaten. But do you know those roaming water containers and replace any Ifreely in your home or the surroundings Clean + water collection vessels weekly may not be safe as they could be carrying clear drains Change water viruses, bacteria or parasites? — in the vases, “As such, pest infestations can lead to Place fishes in pot bases and serious problems including health con- water features water containers sequences and even structural damages Mosquitoes to the home. Therefore, homeowners are are the number one killers encouraged to have their homes profes- in the world, causing sionally treated from time to time,” Rent- okil Initial Malaysia managing director more human fatalities How to inspect? Carol Lam and technical director Juliana than sharks.” Soo tell TheEdgeProperty.com. MALARIA — Rentokil Initial Mosquitoes often make The adults are attracted to Starting from this week followed by the YELLOW FEVER that annoying high standing water, including water coming issues, TheEdgeProperty.com will pitched buzzing sound trays from house plants and water introduce the top five pests which can DENGUE FEVER bowls, where they lay their eggs damage not only your health, but also your property. ZIKA VIRUS Professional international pest control Damage to CHIKUNGUNYA Bites are obvious You might spot Mosquito giveaways, ranging them lingering larvae in company Rentokil Initial will share tips on health and property how to inspect and prevent these lurking from mildly irritating in dim and stagnant pests from slowly munching away at your Spreads deadly to intensely inflamed shady areas water health and your property. mosquito-borne diseases with swelling The first on the list are mosquitoes. TEP 14 FRIDAY NOVEMBER 25, 2016 • THEEDGE FINANCIAL DAILY HOME IDEAS

PICTURES BY RAYMOND LEE

French polish Highlights from the Maison&Objet Paris 09/2016 Fair

BY RAYMOND LEE

Luxury mode had a most inspiring stopover in Paris recently with a visit to Th e luxury theme featured strong col- one of the world’s largest interior design trade shows — the ours that contrasted with bright metal Maison&Objet Paris 09/2016 Fair. detailing. For the bedroom, nothing is Hosted at the Paris Nord Villepinte near the Charles de more opulent than having a highly pol- Gaulle airport, the fair ran from Sept 2 to 6 and was themed ished metal four poster bed comple- “Be highly inspired in Paris”. From home décor accessories mented by luxurious padding, quilt- Ito furniture, textiles to tableware, the fair attracted some 70,000 ing and monogrammed bed linens and visitors and more than 3,000 brands from around the world. towels which seem to be back in vogue. Here are some of the home décor trends that caught my eye Oversized crystal chandeliers cascading at the fair. in multiple layers also provided instant grandeur and glamour. Raymond Lee is an interior designer and founder of Xceptional Interiors. He Abundant in many of the exhibitors’ can be contacted at Email: [email protected] or check out booths were the use of black accents www.xceptional-interiors.com. such as in the form of classic black lamp shades and photographic prints used as art. Brands such as Eicholtz, Worlds Away and Andrew Martin all set up large, very impressive booths featuring this trend.

Natural fl air Many interior designers also went tropical, probably taking the cue from the sum- mer Olympics held in Rio De Janeiro, Brazil this year as many of them made exotic and colourful references to the fl ora and fauna of Brazil in their décor. Th eir inspirations were often translated into quirky but practical accessories such as botanical studies framed as artwork, ceramic statues/fi gurines of panthers and pumas, book ends and lamp bases. Wallpapers and fabrics also refl ected the vibrant forests of the Americas with graphic patterns of emerald green palm fronds and colourful wild orchids. Danish brand G&C Interiors’ booth was a standout for me in showcasing this trend. FRIDAY NOVEMBER 25, 2016 • THEEDGE FINANCIAL DAILY TEP 15 HOME IDEAS

Urban metallics One of the strong trends featured were luminous fi nishes in metal. Everyday items such as giant planters, tall vases and small candle holders all took on a shine. At Euro- pean brand Dekocandle’s booth, I spotted some dramatic planter boxes in matt gun metal black fi nish that were a perfect match for the huge and colourful fl oral arrange- ments. Several other items in polished cop- per or brass shone brightly at the display too. Even the glassware collection had a warm metallic lustre and the tea light holders set on a metal tray were especially glamorous.

50s glamour A number of vendors were spotted showing off 50s style furnishings this season. I was particularly fond of the collection which was Italian-in- spired, namely Jonathan Adler’s booth which was playful yet elegant and reminiscent of a very beautiful era of creations by Italian designers Gio Ponti and Ettore Sottsass. Strong infl uences from the art deco period could also be seen in many pieces such as silver-leaf fi nishes and motifs.

Handcrafted Many items showcasing handcrafted details took the spotlight at the fair in Paris this autumn. I was delighted to see the return of the 70s craft macramé used in many items such as wall hang- ings and cushion covers. Recycled timber and cast-off metal were also used by designers to make new pieces of furniture such as small side tables and coff ee tables. Dutch brand By-Boo had many unique pieces to show at their booth. Handwoven wicker chairs from the Philippines and handy baskets in a bleach white paint fi nish were rather stunning at Maison Pederrey. I was also delighted to discover some gorgeous handmade wool blankets from Portugese brand Mantecas. TEP 16 FRIDAY NOVEMBER 25, 2016 • THEEDGE FINANCIAL DAILY FEATURE

MISTAKE #1 Too many built-ins and wallpaper If you’re not an occupant of the unit, do not splurge on built-in furniture and wallpaper, simply because each person has diff erent preferences and not everyone might like that built-in wardrobe or wallpaper that you have installed. Not only that, built-ins and wallpaper are diffi cult to remodel. For instance, if a tenant wants to repaint the wall, he has to spend a lot of time scraping off the wallpaper fi rst. In short, built-ins and wallpaper are not for the commitment-averse. Basic fi ttings and furniture will do.

SOURCE: TheEdgeProperty.com | GRAPHIC: NURUL AIDA MOHD NOOR

MISTAKE #2 Succumbing to ‘fashion’ architecture Jumping on the trends bandwagon may not always be a good thing. Being heavily infl uenced by trends could bring disaster because those trends may not last very long. So, do not renovate based on what you want but based on what most tenants or buyers would fi nd acceptable. TOP 5

HOME MISTAKE #3 Going for cheap or overpriced stuff Sometimes, less is more. Woo says the common perception when renovating a house or apartment is that with expensive, top-notch RENOVATION materials, you can ask for higher rentals or MISTAKE #4 prices. Breaking the law without One tip is to look at the property’s location realising it mistakes to avoid and demographics of the area. One of the many things that homeown- “You have to study the location, look at the ers tend to leave out when renovating potential tenants that you are going to attract, their homes is obtaining permits for their renovation works. You should check with BY LUM KA KAY then only consider the interior design/décor concept that you should go for,” says Woo, the relevant authorities and the project’s adding that everything should add up at the management committee to obtain the emodelling a home takes a lot of time and hard work, end of the day. right approvals before you begin reno- especially for homeowners who have never done it be- However, this doesn’t mean that you vation. fore. Property owners cum investors who are thinking should just go for the cheap but bad quality Besides permits, homeowners should of flipping a home or renting it out have to be extremely stuff just to save cost. also take the building’s structure into careful when choosing and deciding on the renovations “Plan your renovation account especially strata properties. and fittings that they want to put into a property. according to the value of “For strata units, the plumbing is usu- RAlways plan well and source for the right materials and exper- the property,” adds Woo. ally connected between fl oors so before tise, otherwise it could turn into a waste of time, eff ort and mon- you ask your contractor to remodel the ey! Kuala Lumpur-based property agent Freeman Woo from MIP toilet or bathroom, it’s important to study Properties Sdn Bhd points out to Th eEdgeProperty.com some of the unit’s plan and building’s structure so the top renovation mistakes he has seen property owners, espe- that your action won’t aff ect your neigh- cially those looking to rent out their property, make along the way, bours who are living upstairs, downstairs while giving his two cents on how to avoid them. or beside you.

MISTAKE #5 Just winging it This is the worst mistake of all because dear homeowners, it is very important that you do your homework and research before you start on any renovation. Spend some time to think about the concept that you’re going for, based on your budget and, most importantly, speak to the experts or even your local negotiator or agent to un- derstand more about the property itself, the neighbourhood and the property market before engaging a contractor. Either that or you end up wasting time and money.

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