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

KLK Land inks There is a 4% early-bird discount MoU with Wesley Setia Alam’s Opacus and Albida terraced homes until Sept 16, she added. 85% taken up over weekend launch The 12.86-acre Harmoni Apart- Methodist School ment has a gross development value KLK Land, the property arm of Kuala S P Setia Bhd’s new launches of (GDV) of RM108 million with the fi rst The Edge Property Lumpur Kepong Bhd, has signed double-storey terraced homes in phase to be completed by early 2019. a memorandum of understanding Precinct 17, Setia Alam have received The freehold project comprises 352 Malaysia (MoU) with Wesley Methodist School 85% take-up at its Aug 27 and 28 units of 3-bedroom and 2-bathroom (WMS) for the building and running weekend launch. Prior to the launch, apartments with a built-up size of of a private school at its Bandar Seri prospective buyers were seen lining 900 sq ft. Each unit comes with Coalfi elds (BSC) township. up outside Setia Alam Welcome two parking bays. Prices start from Phase one of the development Centre since Wednesday. RM307,000. will see the setting up of a kinder- The two new launches, Opacus garten and primary school while and Albida, off er a total of 235 units. Uncertain outlook the proposed phase two will see the The freehold houses are located at for Penang real development of a secondary school the northern section of Setia Alam. that the remaining units will sell Publisher and Group CEO with international syllabus. Opacus has built-ups from 1,708 sq ft out very soon, despite the recent estate market, says Ho Kay Tat The group noted that the MoU is while Albida’s built-ups are from 1,956 market slowdown. Henry Butcher a demonstration of its commitment sq ft. Prices start from RM578,000 for Construction for both Opacus The real estate market outlook for to the BSC township community and Opacus and RM638,000 for Albida. and Albida will commence in Sep- Penang till the end of this year seems part of its eff orts in building the fu- Bandar Setia Alam general man- tember 2016 with targeted delivery rather uncertain due to weak market ture generation of young leaders ager Tan Siow Chung is confi dent by September 2018. sentiments in both the primary and who can contribute to the advance- secondary markets which are ex- The Edge Property Sdn Bhd (1091814-P) ment of Malaysia. pected to lead to poorer performance Level 3, Menara KLK, No 1 Jalan PJU 7/6, Mutiara Damansara, 47810 RM270,000, for their serviced apart- saw some 90% of 150 units booked this year, according to Henry Butcher Petaling Jaya, Selangor, Malaysia Developers’ duty to ment, SoHo and SoVo projects, Iskan- by the end of its fi rst day of launch Malaysia (Penang) Sdn Bhd. build aff ordable units dar wrote in a statement on Tuesday, on Aug 28. In its “Penang real estate market: which was uploaded on his Facebook. Divisional general manager Evon Opportunities despite weak senti- Th eEdgeProperty.com in Selangor soon Currently, most of the units Yap Yoke Ching told TheEdgeProp- ments” research report for 2Q2016, Managing Director/Editor-in-Chief Property developers will be required in these projects are priced at erty.com that many of the buyers the property consultancy expects Au Foong Yee to build aff ordable units for serviced RM450,000 and above. were fi rst-time homebuyers as well the volume of transactions to de- EDITORIAL apartments, small offi ce/home offi c- The sale of the aff ordable units as parents buying for their children. cline further from last year. Editor Lam Jian Wyn es (SoHos) and small offi ce/virtual will be under the control of the Se- In 2015, the total volume of Contributing Editor Sharon Kam offices (SoVos) in Selangor under langor Housing and Property Board transactions saw a dip of about Deputy Chief Copy Editor James Chong the state’s new blueprint for housing (LPHS). Homebuyers in the state will 4,000 transactions compared with Senior Copy Editor developments, which is expected to need to register with LPHS for the 25,555 units recorded in 2014. The Shanthi Murugiah be unveiled soon. purchase of the aff ordable units. residential market was the most Writers Rachel Chew, Tan Ai Leng, According to Selangor Exco for active sub-sector in 2015, capturing Natalie Khoo, Shawn Ng, Lum Ka Kay Art Director Sharon Khoh Housing, Building Management and First phase of 71% of the total volume. Design Team Nik Edra, Urban Settlement Datuk Iskandar The volume of residential trans- Nurul Aida Mohd Noor Harmoni Apartment Abdul Samad, the new blueprint will 90% booked on actions in 2015 saw a drop of 16% For New Launches/Events/ require property developers in Sel- from the previous year. Press Releases/News Tips angor to build 10% to 20% units that launch day email: [email protected] are priced between RM230,000 and Eco World Development Group Bhd’s Tel: 03-7721 8211 Fax: 03-7721 8280 How do I get past issues of this weekly pullout? Email: [email protected] (EcoWorld) Harmoni Apartment at Eco Majestic, Semenyih, Selangor Go TheEdgeProperty.com ADVERTISING & MARKETING trending to download for free Head of Marketing and Sales Sharon Chew (012) 316 5628 Senior Account Manager now Jayne Law (016) 929 3309 Account Managers Jayremy Sim (011) 1669 6039 If you have any real estate-related events, email us at [email protected]. Jocelyn Poo (012) 611 5626 LAUNCHES + EVENTS Marketing Support & Ad Traffi c Events listed here will also appear on TheEdgeProperty.com. Madeline Tan (03) 7721 8218 email: [email protected] Email : [email protected] In conjunction with the WCT’s The Waltz Residences @ Exhibition Centre (SPICE), NEGOTIATOR ADVISORY SERVICE National Day and Malaysia Day Paradigm Garden City launch Jalan Tun Dr Awang, Bayan Senior Manager Elizabeth Lay celebrations, Mah Sing Group Date: Sept 3 (Sat) Lepas, Pulau Pinang Senior Associate Stannly Tan Associate Karen Wong Bhd is hosting a “Warna-Warni Time: 10am to 6pm Contact: (04) 641 2255 Malaysia” carnival. The event aims Venue: WCT Sales Gallery, / (012) 233 5273 For enquiries and listings to re-introduce the wonderful Lot PT 15210, Jalan Awana S P Setia Bhd is organising a email: [email protected] GL: (03) 7721 8175/ 8172 childhood memories Malaysians Besar, OUG, Kuala Lumpur Furry Friends Fun Fest, off ering Email: [email protected] had in the 80s and 90s to the Contact: (03) 7971 8333 opportunities for guests to younger generations. There will WCT Holdings Bhd is launching spend some time with their Mid-Autumn Celebration and be snacks, nostalgic games, the Waltz Residences, a freehold furry friends. Besides dog shows TheEdgeProperty.com pullout is launch of fi nal release of 28 published by The Edge Property Sdn activities and local delicacies luxury condominium in OUG, KL. and a pet adoption campaign, Bhd. It is available with The Edge BLVD @ Pandan Perdana from the 80s and 90s for guests. Unit built-ups are from 948 sq ft guests can check out S P Setia’s Financial Daily every Friday. The Date: Sept 3 (Sat) latest projects for sale. pullout is also distributed at more Gracia Fiesta @ Radia Sales than 200 offi ces, shopping complexes, Time: 10am to 7pm condos, medical centres, F&B outlets Venue: 28 BLVD Sales Gallery, Gallery Special Preview of and LRT stations in the Klang Valley. 28, Jalan Perdana 3/10, Pandan Date: Sept 3 and 4 (Sat and Sun) Kalista Park Homes @ You can also download it for free at Perdana, Kuala Lumpur Time: Saturday (10am to 11pm); Bukit Rahman Putra www.TheEdgeProperty.com Contact: (03) 2161 2345 Sunday (10am to 5pm) Date: Aug 29 to Oct 28 Beverly Group Sdn Bhd is Venue: Radia Sales Gallery, Time: 10am to 5pm Th e Edge Malaysia organising a mid-autumn festival No 2A (Lot 64406), Persiaran Venue: Kelab Rahman EDITORIAL celebration in conjunction with Tebar Layar Seksyen U8, Bukit to 1,691 sq ft. The Mid-Autumn Putra Malaysia, Jalan BRP Editor-in-Chief Azam Aris the launch of its 28 BLVD @ Jelutong, Shah Alam, Selangor Festival will also be celebrated 2/1, Bukit Rahman Putra, CORPORATE Pandan Perdana (fi nal release) Contact: (03) 7859 9801 at the launch event with some Sungai Buloh, Selangor Chief Operating Offi cer Lim Shiew Yuin serviced apartment project. In conjunction with the launch of children’s activities, Wheel of Contact: (03) 2718 2771 ADVERTISING & MARKETING Chief Commercial Offi cer the new residential block Radia Fortune, mooncake tasting and Malaysian Resources Corp Bhd’s Sharon Teh (012) 313 9056 Mah Sing’s Warna-Warni Residences, UEM Sunrise Bhd mooncake making demonstrations. (MRCB) Kalista Park Homes @ General Manager Malaysia is organising a Gracia Fiesta at Bukit Rahman Putra is open for Kingston Low (012) 278 5540 S P Setia’s Furry Friends Senior Sales Managers Date: Aug 25 to Sept 18 the Radia Sales Gallery in Bukit a special preview. The project Fong Lai Kuan (012) 386 2831 Time: 11am to 9pm Jelutong. There will be exciting Fun Fest is a collection of freehold Gregory Thu (012) 376 0614 Venue: Star Avenue Lifestyle activities such as buskers’ Date: Sept 3 (Sat) semi-detached and superlink Michael Tan (012) 213 0252 Peter Hoe (019) 221 5351 Mall, No 3, Jalan Zuhal U5/177, performances, KL stompers Time: 5pm to 9pm homes designed for a luxurious Creative Marketing Bandar Pinggiran Subang, performance, caricature drawing, Venue: Setia Welcome lifestyle that revolves around Chris Wong (016) 687 6577 Shah Alam, Selangor zorb ball playland, a giant chess Centre, Subterranean Penang family togetherness. The project Head of Marketing Support & Ad Traffi c Contact: (03) 9221 8888 set game and many more. International Convention and is limited to 46 units only. Lorraine Chan (03) 7721 8001 Email: [email protected]

TEP 4 FRIDAY SEPTEMBER 2, 2016 • THEEDGE FINANCIAL DAILY TheEdgeProperty.com | SYMPOSIUM ON KL-SINGAPORE HIGH SPEED RAIL 2016 Opportunities, speed and money

PICTURES BY PATRICK GOH+ MOHD IZWAN MOHD NAZAM | TheEdgeProperty.com BY LUM KA KAY TheEdgeProperty.com’s hat is the one “Symposium on Kuala word that comes Lumpur-Singapore High to mind when Speed Rail 2016” attracted you think of the over 500 participants upcoming Kuala Lumpur-Singa- Wpore High Speed Rail (HSR)? “Opportunities”, “speed” and “money”, in that order. Th ose were the answers given by the majori- ty of over 500 participants of Th - eEdgeProperty.com’s “Symposium on Kuala Lumpur-Singapore High Speed Rail 2016” on Aug 27. Th e online interactive poll con- ducted during the symposium also asked participants to rank the pro- posed HSR station locations in Ma- laysia that they would put their money on. Not surprisingly, the station that ranked fi rst was Greater KL, followed by Seremban, Iskan- dar Puteri, Putrajaya, Ayer Keroh, Batu Pahat and Muar. Th e polls were conducted during the symposium themed “Where to invest — Don’t miss the boat” to fi nd out what the attendees thought of the HSR project. The symposium clearly attract- ed those who were looking to ride on the real estate investment op- portunities that could arise from the HSR project. In her welcome address, TheEdgeProperty.com managing director and editor-in-chief Au Foong Yee noted the importance of seizing investment opportuni- ties from the upcoming HSR al- though the first train would only be flagged off in 10 years or so. “If there is to be one development on the Malaysian property scene now that can be considered sexy (From left) Alvin Ong, EcoWorld integrated commercial development general manager Eco World Developments Group Bhd’s booth showcased the concept of the Bukit Bintang and exciting, it must be the HSR. Kevin Lew, Tang, Tan, Au, Richard Ong, Ho, Boyd and BBCC development head of sales and City Centre development Sexy not because of the meander- marketing Rachel Chong and TheEdgeProperty.com contributing editor Sharon Kam ing curves of its alignment, but the immense investment potential and Th ere was also a panel discus- opportunities that it off ers,” she said. OrganisedOrgrganised by sion entitled “HSR: Th e Big Idea” The speakers featured in the which was moderated by Au with symposium were BBCC Develop- Ho, Boyd and BBCC’s Richard on ment Sdn Bhd chief executive of- the panel. In the panel discussion, ficer Datuk Richard Ong, Henry the panellists agreed that the pub- Butcher Real Estate Sdn Bhd chief Presenting Sponsor lic and private sector need to join operating offi cer Tang Chee Meng, hands to enhance connectivity that Th eEdgeProperty.com director of complements the HSR besides cre- business and product development ating a conducive environment for Alvin Ong, KGV International Prop- businesses to grow. erty Consultants executive director To recap, Malaysia and Singa- Samuel Tan, Ho Chin Soon Re- A Joint Development By: pore signed a memorandum of search chairman Ho Chin Soon and understanding recently to work Savills Malaysia executive chairman Employees Provident Fund towards commencing the Kuala Christopher Boyd. Supported by Lumpur-Singapore High Speed Rail Although the speakers expect (HSR) operations by 2026. the HSR to bring positive impact Both governments have also overall, they also raised key factors Participants checking out TheEdgeProperty.com’s booth at the HSR Symposium. agreed that the HSR will have eight that must be addressed for the suc- stations, with main terminals in cessful implemetation of the HSR. tre integrated development to link and the Employees Provident Fund shared some notable townships Bandar Malaysia (Kuala Lumpur) Th ese include the importance of the Mass Rapid Transit (MRT), in a 40:40:20 share structure over in Seremban and Melaka that may and Singapore, and six intermedi- local connectivity. Light Rail Transit (LRT) and mon- a period of between 8 to 10 years. be worth looking at for investors. ate stations in Putrajaya, Seremban, Richard stressed that it is impor- orail stations. Henry Butcher Malaysia’s Tang Meanwhile, KGV’s Tan, in his Ayer Keroh, Muar, Batu Pahat and tant for BBCC to provide seamless Located on the former Pudu jail in his talk also noted that the last presentation titled “Iskandar-Ba- Iskandar Puteri. connectivity for commuters as he site in Kuala Lumpur, Bukit Bintang mile connectivity at the proposed tu Pahat-Muar: A shining star?”, The symposium which was believes the future lies in the rail City Centre has a gross develop- intermediate HSR stations such as added that he believes the HSR held at Sunway Putra Hotel, Kua- lines, including the HSR. ment value (GDV) of RM8.7 billion. Seremban and Ayer keroh would be will bring in more businesses to la Lumpur, was organised by Th- Hence, the developer will in- The 19.4-acre project is being vital for the HSR’s success. those quieter towns in the south eEdgeProperty.com and support- vest RM30 million into creating developed by a consortium com- In his presentation entitled “In- of Malaysia, which have a planned ed by The Edge Malaysia. The the central transit hub located prising UDA Holdings Bhd, Eco vestment sweet spots: The Ser- HSR station, namely Muar, Batu presenting sponsor was Bukit within its Bukit Bintang City Cen- World Development Group Bhd emban/Air Keroh lure”, Tang also Pahat and Iskandar Puteri. Bintang City Centre. FRIDAY SEPTEMBER 2, 2016 • THEEDGE FINANCIAL DAILY TEP 5

PATRICK GOH | TheEdgeProperty.com Connectivity — important in determining success of HSR

BY TAN AI LENG sees bright prospects for Ayer Keroh in Melaka (From left) Au, Ong, (MRT), the Light Rail Transit (LRT) and public due to the draw and spillover effect from Mela- Ho and Boyd sharing buses needs to be improved to effectively con- here are the next property in- ka’s tourism industry. their views on the HSR’s nect people from the various stations including vestment hotspots along the Meanwhile, Boyd suggested that Putrajaya, development during the the HSR stations, to other locations,” he said. planned route of the Kuala which has a good concentration of working popu- panel discussion He said BBCC, which is located on the former Lumpur-Singapore High Speed lation, could also hold great potential for growth. Pudu Jail site, will set an example by connect- Rail (HSR)? Well, we could con- The panellists believe the HSR could be a great ing the MRT, LRT and monorail systems and sider cities and towns with a boost to Malaysia’s transborder transportation providing greater convenience to commuters Wstrong working population or with strong tour- system which will encourage bilateral business who travel from or to the nearest HSR station ism elements, said real estate experts during and job opportunities. However, they stressed in Bandar Malaysia. a panel discussion entitled “HSR — The Big that the private and public sectors need to work Apart from connectivity, Ong said young buy- Idea” at TheEdgeProperty.com’s “Symposium hand-in-hand to fill the missing links in the ers and the working population are getting more on Kuala Lumpur-Singapore High Speed Rail overall transport system to allow for seamless sophisticated. Hence, developers need to be 2016” on Aug 27. transport connectivity. creative to integrate various elements including According to Ho Chin Soon Research chair- Ong noted that Singapore is the best example recreational amenities into the design of their man Ho Chin Soon, among the seven potential for seamless connectivity between facilities such developments to cater to their needs. growth locations where the proposed HSR sta- as covered pedestrian walkways between their Although many people are looking to tap on tions are, Greater KL, Ayer Keroh in Melaka, and public transport systems. the growth potential that the HSR can bring, Boyd Pagoh or Muar in Johor are his top three choices. “The connectivity between all public transpor- reminded that infrastructure development is a Ho said the HSR will change the way people tation systems, such as the Mass Rapid Transit long-term thing which will not create an explo- travel and do business as it shortens the travel sion in value in the short term. time from Kuala Lumpur to other states in the “Investors could tap on the opportunities southern region all the way to Singapore. to invest in properties along the HSR line, but “The improved connectivity will move the they must also bear in mind, there will not be an locational centre of gravity from the central re- overnight boom effect even after the HSR starts gion to other places. For instance, highway con- operation. Based on the experience of countries nectivity has shifted the centre of gravity from which already have the HSR, it will take some Petaling Jaya to Puchong, and now the HSR will time to see the impact of the HSR on rental yields open up more areas and opportunities,” he said. Large TourismTou and capital appreciation,” he explained. Greater KL will definitely benefit especially population HSR aactivitiescti Besides this, Boyd also noted that the HSR fare from the upcoming Bandar Malaysia in Sungai structure will be the key to determine whether Besi. Meanwhile, the centre of gravity for Kua- SUCCESS the HSR will become the main transportation la Lumpur’s Golden Triangle is also gradually FACTORS: choice for both business owners and public users. moving towards Bukit Bintang, he added. “The operator needs to be constant with the The other panellists were BBCC Develop- fare structure and price adjustment policy, by ment Sdn Bhd CEO Datuk Richard Ong and not raising the fares every year, to encourage Savills Malaysia executive chairman Christopher people to travel using the HSR,” he said. Boyd. The panel discussion was moderated by The symposium was organised by TheEdge- TheEdgeProperty.com managing director and Seamless AttractiveAttractive Property.com and supported by The Edge Ma- editor-in-chief Au Foong Yee. connectivity fares laysia. The presenting sponsor was Bukit Bintang BBCC’s Ong said besides Greater KL, he also City Centre (BBCC). TEP 6 FRIDAY SEPTEMBER 2, 2016 • THEEDGE FINANCIAL DAILY TheEdgeProperty.com | SYMPOSIUM ON KL-SINGAPORE HIGH SPEED RAIL 2016 Time for some landbanking in areas near HSR stations

BY SHAWN NG timate the potential of the intermediate HSR ganised by TheEdgeProperty.com and supported stations as travel time becomes shorter to and by The Edge Malaysia. The presenting sponsor eal estate investors looking for op- from Kuala Lumpur or Singapore. was Bukit Bintang City Centre. portunities to tap on the Kuala Lum- Ho cited the Ayer Keroh station as an example. Ho also pointed out that some major land- pur-Singapore High Speed Rail link “Th e location is further away from Kuala Lumpur owners and property players with land near the project (HSR) can start by looking than Seremban, but when the HSR becomes op- proposed HSR stations include Sime Darby Bhd out for land available for sale near erational, the journey from Ayeh Keroh to Bandar (Seremban and Pagoh stations), Johor Corp and the proposed stations, said Ho Chin Malaysia in Sungai Besi, Kuala Lumpur will only Genting Plantation Bhd (Batu Pahat station) and RSoon Research Sdn Bhd chairman Ho Chin take about half an hour. Lion Group, Hatten Group, IOI Properties Group Soon. “One can arrive at Bukit Bintang City Centre We should Bhd, Bellworth Group, Encorp Bhd and MTD Cap- “There are land purchase opportunities for (an upcoming iconic integrated development ital Bhd (Melaka’s Ayer Keroh station). developers and individual investors. For devel- in Bukit Bintang, Kuala Lumpur) in another 15 not ignore According to a JPMorgan report, UEM Sun- opers, they should look for plantation land. As minutes by using the future Sungai Buloh-Ser- towns such as rise Bhd (UEMS) has large tracts of land in for individual investors who want to buy 5 or 10 dang-Putrajaya MRT station in Bandar Malay- Iskandar, Johor, which is 7,307 acres based on acres of land, they should look for smallholding sia,” he said. Pagoh or Muar effective stake. land,” he said during his presentation “Hot spots Speaking of Bukit Bintang City Centre, Ho which off er As a percentage of total project GDV, the ex- along the alignment: Where are the opportuni- noted that the Kuala Lumpur Golden Triangle posure to Johor among developers under JP- ties?” at TheEdgeProperty.com’s “Symposium or locational centre of gravity is moving towards smallholding Morgan’s coverage is largest at UEMS (85%), on Kuala Lumpur-Singapore High Speed Rail Bukit Bintang. and plantation followed by Sunway Bhd (948 acres based on 2016” themed “Where to invest — Don’t miss Th e Bukit Bintang City Centre project on the effective stake, 53% of GDV), Eco World De- the boat!”. old Pudu prison site is a 19.4-acre integrated de- land purchase velopment Group Bhd (2,487 acres based on The government of Malaysia and Singapore velopment which is being developed by a consor- opportunities effective stake, 26% of GDV), Mah Sing Group signed the memorandum of understanding tium comprising UDA Holdings Bhd, Eco World Bhd (1,584 acres based on effective stake, 23% (MoU) to kick-start the 350km rail link project Development Group Bhd and the Employees — Ho of GDV) and S P Setia Bhd (781 acres based on last month. The HSR is expected to attract 17.6 Provident Fund (EPF). effective stake, 9% of GDV). million potential users with the number estimat- The first phase of the project, with a gross Other developers with Johor exposure in- ed to grow at a pace of 2.9% per annum to about development value (GDV) of RM4.7 billion, clude IOI Properties Group Bhd (6,100 acres 24 million in 10 years. The project is expected comprises a hotel, offices, a condominium, Mit- based on effective stake, 19% of GDV), Eastern to be operational by 2026. sui Shopping Centre, a 2.43ha green park and & Oriental Bhd (105 acres based on effective Ho noted that some developers have acted a concert hall. The development is expected to stake) and KSL Holdings Bhd. fast to acquire land near some of the proposed begin construction next month. stations while developers with developments “We should not ignore towns suchch as PPagohagoh near the proposed stations are already pro- or Muar which off er smallholding andd plantation moting their projects with the HSR as a major land purchase opportunities,” Ho said.id. selling point. Another intermediate station thathat seldom During his presentation, Ho also showed a gets mentioned is the proposed Kampungmpung Dato map on land use and land ownership in the ar- Abu Bakar Baginda station in Putrajaya.aya. “I took eas surrounding the proposed terminus in Ban- some time to scout the area and foundound sosomeme dar Malaysia and the six intermediate stations in nice houses, although they are on MalayMalay Re-Re- Putrajaya, Seremban, Ayer Keroh, Muar (Pagoh), serve Land.” Batu Pahat and Iskandar Puteri. While the proposed site of the HSRSR stations “You can get a lot of information when looking are currently said to be on greenfieldd lands, Ho at this map,” he said. “Looking at Bandar Malay- said developers with land near these stationsstations will sia, we can see that Taman Desa is just a stone’s be planning or re-drawing their developmentevelopment throw away,” he off ered, adding that real estate plans taking into consideration theirr proximitproximityy owners there may benefi t from the proximity to to the stations. the HSR station. The symposium, which was heldd at SunwaySunway He also reminded investors not to underes- Putra Hotel, Kuala Lumpur on Augg 27 was or-or-

Potential users of the HSR Landowners near proposed HSR stations HSR stations HSR alignment Greater Kuala Lumpur 8,000,000 Seremban station Sime Darby Bhd, IJM Seremban Land Bhd + Matrix Concepts Holdings Bhd 1 700,000 Putrajaya 2 Melaka- Ayer Keroh Pagoh station Sime Darby Bhd 600,000 KLIA 3 4 Batu Pahat station Johor Corporation + Seremban, Genting Plantation Bhd Negri Sembilan 5 Muar, JohorBatu Pahat- Kluang (Ayer Hitam) Muar-Pagoh Ayer Keroh, 6 700,000 Melaka 300,000 Ayer Keroh station Lion Group, Hatten 7 Group, IOI Corporation Bhd, Bellworth Batu Pahat,Johor Gerbang, Nusajaya- Iskandar Malaysia 8 Group, Encorp Bhd + MTD Capital Bhd Iskandar1,800,000 Puteri, Johor Singapore Iskandar Puteri station UEM Sunrise Jurong East, Singapore 5,500,000Singapore Bhd, Kuala Lumpur Kepong Bhd, Sunway Greater KL + Seremban 8,700,000 49% Bhd, Eco World Development Group Bhd, Mah Sing Group Bhd, IOI Properties Group Others 1,600,000 9% Bhd, S P Setia Bhd, Eastern & Oriental + Singapore + Iskandar 7,300,000 42% KSL Holdings Bhd Total 17,600,000 100%

PATRICK GOH | TheEdgeProperty.com FRIDAY SEPTEMBER 2, 2016 • THEEDGE FINANCIAL DAILY TEP 7

HSR — a double-edged sword?

BY RACHEL CHEW other concern that would change people’s ex- “People have been asking questions like, how pectations of the HSR — the fare. do they know when is the best time to buy land he Kuala Lumpur-Singapore High “Over in Singapore, it was revealed that the or property. My answer is now because in the Speed Rail (HSR) could be a dou- HSR fare from Singapore to Kuala Lumpur could real estate market, there is no such thing as the ble-edged sword if it is not well- possibly be around RM200 one way. I think for right time, only the right place,” Tan said. planned. business travellers, it is a good deal because it is Once the exact location of the HSR stations are Having a HSR station in town may hassle-free, faster and more convenient. Howev- announced, developers looking for land should make it more vibrant but the opposite er, for daily users, the fare cannot be too steep. buy “land anywhere” as long as they are close Tcould also happen and the town may become If so, then I don’t think there will be a signifi- to the station location. even more quiet, says KGV International Prop- In the next cant increase in daily travel across the border,” “It will never be wrong to invest near infra- erty Consultants executive director Samuel Tan 10 years, Tan offered. structure developments. If it is wrong now, it during his presentation on “Iskandar-Batu Pa- Nevertheless, daily travel is more viable be- will be right one day,” Tan explained. hat-Muar: A shining star?” at TheEdgeProperty. the state tween Kuala Lumpur and Seremban due to the Although the eight operating HSR systems com’s “Symposium on Kuala Lumpur-Singapore government shorter journey. around the world have impacted their local High Speed Rail 2016” on Aug 27. property markets differently, Tan believes the Focusing on the impact of the HSR on Malay- should work No right time, only right location KL-Singapore HSR is likely to have positive ef- sia’s southern region, Tan said the HSR could be hard to On when investors should start investing con- fects on the local property market. a catalyst for the Johor towns of Muar and Batu sidering the HSR will take 10 years and is cur- Titled “Where to invest — Don’t miss the boat”, Pahat where intermediate HSR stations have improve the rently only in the preliminary stages of planning, the symposium was organised by Th eEdgeProp- been proposed. development Tan said when it comes to buying property, an- erty.com and supported by Th e Edge Malaysia “Muar and Batu Pahat are manufacturing ytime is a good time to buy as long as it is in a with Bukit Bintang City Centre as the presenting towns. HSR will not only bring in more business- of their towns good location. sponsor. es but also property buyers. With HSR, travel to in order to Kuala Lumpur from Muar and Batu Pahat will only take about half an hour,” Tan said. retain their On the other hand, the convenience of the young HSR may see the young working population from — Tan these towns moving out to work in the city such Transportation connectivity as Kuala Lumpur or Singapore. If their home- towns do not have enough opportunities, facil- ities and amenities to fulfil their demands, the Town A Gen-Y may seek the brighter lights of the city. Hence, he said it is crucial that within the next Inter-town Intra-town transport Inter-town 10 years each local government starts laying the transport transport groundwork that could help them reap the full benefits of having a HSR stop in their towns. HSR station The HSR is expected to start operating in 2026. Town C Town B “In the next 10 years, the government should work Intra-town Intra-town hard to improve the development of their towns in transport transport order to retain their young,”yg Tan said. Another key too the HSR’s success Intra-town transport will be the local connectivitconnectivity.y. Inter-townInter-town Inter-town “You can’t justst build a HSHSRR transtransportport transport Town D station without havihavingng effeffi-i- cient connectivityty from the station such as buses aandnd taxis to transfer ppeopleeople to places they wantt to ggo.o. It is meaningless if youyou have a nice station but there is no Possible impact of HSR quick way to get youyou to youryour final destination.n. The HSRHSR is important to Singaporegapore and MaMa-- Muar Batu Pahat laysia, but connectivityectivity at the stasta-- tions is importantnt for the success of the HSR,” Tan said.aid. Meanwhile, hhee believes the Domestic system only Domestic system only Iskandar Puteriri station in Johor has a brightbright Regular stops in a day Regular stops in a day future as the im-m- Possible consequences Possible consequences proved transportrt Migration of young to Migration of young to system will be a greener pastures greener pastures push factor forr Relocation of industries to Relocation of industries to a factories or busi-- a cheaper base in Muar cheaper base in Batu Pahat nesses to be re-- Increased tourism arrivals Increased tourism arrivals Increased appeal as a located there. Itt place for retirement is also possiblee to see a reversese of talent flow fromm Singapore. Iskandar Puteri (IP) “The HSR wwillill have a greater impactpact on Iskandar Puteriuteri due to its proximitymity to Domestic and shuttle system between IP and Singapore Singapore. Theree will Regular stops in a day resulting in high people flow be a seamless flowow ooff Possible consequences people, relocationon ofof Migration of young to greener pastures factories, and servic-ervic- Relocation of Singaporeans or PR to IP on a permanent basis or to shuttle to work es and demand as wwellell Relocation of industries, residences and businesses to IP as values of propertiesperties will increase,” Tann saidsaid.. PATRICK GOH | TheEdgeProperty.com He also raiseded an- TEP 8 FRIDAY SEPTEMBER 2, 2016 • THEEDGE FINANCIAL DAILY TheEdgeProperty.com | SYMPOSIUM ON KL-SINGAPORE HIGH SPEED RAIL 2016 HSR to boost Seremban and Ayer Keroh’s property values

BY NATALIE KHOO and matched accordingly to actual demand, an oversupply situation may arise and this will aff ect ith the expected improvements property values,” he added. in infrastructure that come from Another vital factor is what Tang described as the The Seremban/ Ayer Keroh lure having a high speed rail station, “last mile connection”. Tang said good local transport towns such as Seremban in Negeri connectivity would be crucial for a town to benefi t Potential benefits of HSR to Tourism and retail spending Economy and employment Sembilan and Ayer Keroh in Mela- from a HSR station. “Local connectivity and conven- Seremban & Ayer Keroh ka will see more significant growth ience would be key to the stations’ popularity with Housing demand and Win their property values than the more developed HSR users in Ayer Keroh and Seremban,” he said. property market and larger cities, said Henry Butcher Malaysia chief “Melaka, for instance, is a sweet destination spot operating officer Tang Chee Meng. for Singaporeans during the weekends where they He was speaking at Th eEdgeProperty.com’s “Sym- just drive up from Singapore to have some Nyo- posium on Kuala Lumpur-Singapore High Speed nya laksa or for a short holiday trip. Th e HSR will Developments and Developments and Rail 2016” on Aug 27 on the topic “Investment sweet benefi t the middle class Singaporeans who do not townships that will townships that will spots: Th e Seremban/Ayer Keroh lure”. drive because they can just hop on the train to go benefit from the HSR in benefit from the HSR in Both Seremban and Ayer Keroh are among the over to Melaka,” said Tang. Seremban six intermediate stations proposed along the Kuala “However, even if they can minimise their travel- Melaka Lumpur-Singapore High Speed Rail (HSR). ling time to only 1.5 hours, when they arrive at the Bandar Ainsdale Tang said residential property values in these station and there are no shuttle buses or other means (562 acres) by Sime Darby Bukit Katil development two towns are lower or more aff ordable than those of transport to bring them to Melaka town from the Property Bhd in larger cities such as Kuala Lumpur. station, then they will have to spend another half (640.98 acres) by FELDA & “Townships in Seremban are very vast in size an hour to 45 minutes of travelling time again,” he Kota Seriemas, Nilai Encorp Bhd and the properties there are relatively cheaper said, adding that the government or shopping mall (2,400 acres) by PNB compared with those in KL. owners can consider arranging transport services Development Taman Tasik Utama (742 “If you were to buy a double-storey terraced to cater to the needs of HSR travellers. acres) by MTD Capital Bhd house in Seremban, you can still get them at about He also stressed that having a HSR station does Seremban 2 (2,300 acres) RM600,000 to RM700,000. In the Klang Valley, a not always cause property values in an area to rise. S2 Heights (1,500 acres) by Tiara Melaka Golf Club typical double-storey terraced house will easily “According to a report by Australasian Railway IJM Land Bhd and Resort Baba Nyonya Resort (100 cost you a million and above,” he noted. Association, which reviewed the impact on areas Bandar Sri Sendayan acres) by Novasara Besides the overall rise in property values, Tang around the HSR in 15 cities, it was found that land (5,233 acres) by Matrix also pointed out three potential benefi ts of the HSR or property values were positively linked with the Concepts Holdings Bhd Development Sdn Bhd to Seremban and Ayer Keroh. opening of a HSR station in eight cities, three cities “Th ere will be an increase in tourism and retail showed the opposite evidence while four cities had no Putra Nilai (6,233 acres) Taman Muzaffar Heights spending whereby there will be an increase in tourist signifi cant variations in property values,” he off ered. by BBN Development Sdn (137 acres) by Scientex Bhd arrivals from KL and Singapore to these two towns. “Nevertheless, generally, changes in acces- Bhd It will provide a boost to retail trade, tourist destina- sibility drive changes in land values and create Bandar Enstek (5,119 Taman Belia tions, eateries and entertainment outlets. value uplifts. I would say that smaller developing acres) by TH Properties Antarabangsa (150 acres) “In terms of hospitality, hotel stays by business towns will gain more than areas whose residents by OIB Group travellers may not increase much as the short trav- are more affl uent and do not dependdepend as much on el time may reduce the need to stay overnight. On public transport,” he said.d. Country VillasV Resort the other hand, hotel occupancy may be boosted “Th e closer the propertyty to the HSR station, the (136(136 acres) by Country Villas by leisure travellers,” he said. higher the premium will bbe.e. But, it is important to Resort SdnSdn Bhd Tang also noted that as travelling time is reduced note that locations which arere too close to the HSRHSR line signifi cantly, Seremban may be able to attract peo- will suff er from noise pollutiontion and congestioncongestion which IOI CityCity (1,338(1, acres) by IOI ple from KL to relocate to Seremban while Ayer may result in a drop in propertyoperty values,values,”” he added. Properties Group Bhd Keroh may attract Singaporeans, considering the The symposium, whichch was held at SunwaSunwayy lower cost of living in the cities. Putra Hotel, Kuala Lumpurur on AugAug 27 was organ-organ- TamanTaman MeMelaka Perdana “Seremban and Melaka residents who work in ised by Th eEdgeProperty.comy.com and supported byby (100(100 acresacres)) by Villamas Sdn KL may also consider staying back in their home- Th e Edge Malaysia. Th e presentingpresenting sponsorsponsor was Bhd towns and commuting daily to work instead of Bukit Bintang City Centre.e. renting in KL,” he off ered. Tang also identified someome propertyproperty develop-develop- “Th e HSR may also lead to more businesses and ments or townships that investorsnvestors could look at in industries being set up in Seremban and Ayer Keroh Seremban and in Ayer Kerohoh which are located near to take advantage of the lower cost of operations while the proposed HSR stations.s. In Seremban, amongamong having access to a larger labour market,” he added. them are Bandar Ainsdalee byby Sime DarbyDarby He noted, however, that the HSR fare charges would Property, Seremban 2 andd S2 HeightsHeights by be a key factor in the success of the HSR. IJM Land Bhd, Bandar Srii SendaSendayanyan bbyy “HSR fares must be competitive with other Matrix Concepts Holdings BhdBhd and Ban- modes of transport and must be reasonable to dar Enstek by TH Properties.ies. make it viable for people to commute daily or at Meanwhile, in Melaka,a, there are least regularly,” said Tang. Taman Tasik Utama by MMTDTD CCap-ap- “On top of that, authorities should also control ital Bhd, Baba Nyonya ResortResort bbyy development around the transit stations to ensure Novasara Development SSdndn Bhd that the desired types of developments are car- and Taman Muzaff ar Heightsghts byby ried out. If development launches are not paced Scientex Bhd.

HSR fares must be competitive with other modes of transport and must be reasonable to make it viable for people to commute daily or at least regularly — Tang PATRICK GOH | TheEdgeProperty.com FRIDAY SEPTEMBER 2, 2016 • THEEDGE FINANCIAL DAILY TEP 9

Projects with seamless links to HSR stations will be future-proof

BY SHAWN NG likely take 20 to 25 years to complete. line, but there has not been a massive impact on Besides the HSR terminus, the development will property values or supply in Guangzhou.” he planned Kuala Lumpur-Singapore be home to the Express Rail Link (ERL), Keretapi Meanwhile, he also believes that the positive High Speed Rail (HSR) may not be Tanah Melayu (KTM) and the Mass Rapid Transit impact of the HSR on Malaysia’s logistic and in- revolutionary but will, nevertheless, (MRT) Lines 2 and 3. dustrial developments would be minimal as it contribute to Malaysia’s development Looking at high speed rails in China, France, does not carry freight. “In our research, the Ger- growth. Germany and Japan, Boyd said the HSR is expected man HSR is the only HSR that promotes industrial “Th e 350km rail link is a very valu- to bring six potential benefi ts — increased demand development because it carries freight.” Table piece of infrastructure that will augment — for travel, increased job mobility and opportuni- According to Boyd, the positive impact from not supplement — all the other forms of transport ties, enhanced accessibility, enhanced economic the HSR will also highly depend on the fare struc- which we already have had for decades in Malaysia, cooperation between areas, and the optimisation You won’t ture. “We can see it from case studies of France’s including rail, road, air and even sea,” said Savills of businesses. Th ese factors will then support eco- Paris-Lyon HSR. Th e government of France actu- Malaysia executive chairman Chris Boyd during nomic growth and push up property values within see massive ally subsidises the HSR fare on a selective basis to his talk at Th eEdgeProperty.com’s “Symposium on certain parameters. overnight encourage workers to live in suburban areas, and Kuala Lumpur-Singapore High Speed Rail 2016” On the impact of the HSR on property values, this has resulted in reducing some pressure on the on Aug 27. Boyd said rather than a property boom, property increases Paris housing market.” “To some extent, some developments in Ma- values will increase gradually as the HSR is a long- Among the HSRs, the Japanese system is con- laysia will become future-proof, particularly those term project. in property sidered the most successful with the fastest trains developments that will be seamlessly linked to the Boyd warned that investors have to be aware values, it is in the world with a top speed of 603kph, followed HSR stations,” he added. that property values will not increase overnight by France, China, South Korea and Spain, but each In Malaysia, he reckons Bandar Malaysia, where while they are looking at the areas surrounding going to be country will face its own set of challenges when the proposed HSR terminus in Kuala Lumpur will the HSR stations for investment. “You won’t see implementing the HSR systems, Boyd concluded. be located, will enjoy immediate positive impact massive overnight increases in property values, long-term With the theme of “Where to invest — Don’t from the HSR as major rail projects usually have it is going to be long-term and gradual,” he said. and gradual miss the boat”, the symposium, which was held at an impact on surrounding property values. Besides, he added, the impact is typically lim- Sunway Putra Hotel, Kuala Lumpur, was organised Bandar Malaysia is a 486-acre project with ited to those properties in the immediate areas — Boyd by Th eEdgeProperty.com and supported by Th e an estimated gross development value (GDV) of around the stations. Edge Malaysia. Th e presenting sponsor was Bukit RM200 billion. Th e project is located on the former Citing the Hong Kong-Guangzhou line as an Bintang City Centre. Sungai Besi air force base and its development example, he said, “Hong Kong and Guangzhouuangzhou will be carried out over three to four phases and appear to have benefi tted economicallyy from the

PATRICK GOH | TheEdgeProperty.com

Potential benefits of HSR based on case studies High speed rail (HSR) 3 1 Enhancedhanced Increased accessibilityibility and demand for economicnomic travel cooperationperation 2 betweeneen areaareass Increased job mobility and opportunities 6 4 Positive effect on Optimisationmisation property values of businessessinesses (within certain parameters) 5 Supports economic growth

World’s fastest HSR trains Below is the comparison of the train’s top speed record with their maximum operating speed

Japan SC Maglev 320kph 603kph

France 320kph 575kph TGV China Shanghai 350kph 501kph Maglev Train

South Korea 300kph 421kph KTK

Spain 320kph AWE 404kph Maximum operating speed of high speed trains Speed record TEP 10 FRIDAY SEPTEMBER 2, 2016 • THEEDGE FINANCIAL DAILY TheEdgeProperty.com | SYMPOSIUM ON KL-SINGAPORE HIGH SPEED RAIL 2016 Convenience and amenities to ensure positive impact of HSR

BY RACHEL CHEW showed that the top fi ve non-landed residential Th eEdgeProperty.com is a portal that off ers a properties in Kuala Lumpur with the highest rental host of features, including property news, timely lang Valley’s non-landed residential yields in 2015 were Panorama Residences in Sentul market data and research. Th ese are complemented properties located in established areas, (8.5%), Waldorf Tower in Sri Hartamas (7.6%), 231 by equally comprehensive property listings. Other at the fringes of Kuala Lumpur city centre TR Serviced Suites in Kuala Lumpur City Centre highlights include notable done deals, events and and priced below RM400 psf are enjoy- (6.5%), Endah Promenade in Sri Petaling (6.1%) and launches, legal and feng shui tips and advice, as ing the highest appreciation in prices. Solaris Dutamas in Dutamas (6%) (see Chart 2). well as featured projects. Th eEdgeProperty.com product and “If you are familiar with these projects, you will Kbusiness development director Alvin Ong revealed realise that they are part of integrated develop- these fi ndings during his presentation titled “Riding ments or located next to a shopping mall, or close During such Property valuations are more the HSR wave: Opportunities on the subsale market” to public transport and other amenities, ” he said. at Th eEdgeProperty.com’s “Symposium on Kuala Similarly, the KL-Singapore High Speed Rail uncertain dispersed compared to 4 years ago Lumpur-Singapore High Speed Rail 2016” on Aug 27. (HSR) will not have a positive impact, including times, our Number of non-landed projects in KL Organised by Th eEdgeProperty.com, the sym- on values of property surrounding a station, if the 180 vs average psf price posium titled “Where to invest — Don’t miss the station is not well embedded. website can 160 boat” was supported by Th e Edge Malaysia with “You will need connectivity and some retail. 140 2012 2015 be a referral 120 2012 std dev: RM247 Bukit Bintang City Centre as the presenting sponsor. Th e stations must be easy to reach and conven- 2015 std dev: RM263 Ong said Th eEdgeProperty.com’s analysis found ient,” he added. 100 point 80 that non-landed residences that were going for He also pointed out that residential properties 60 RM400 psf and below had better growth potential on the fringes of Kuala Lumpur city centre such before you 40 Number of non-landed projects compared with the more expensive ones, especial- as Kepong, Bukit Jalil, Cheras and Old Klang Road 20 make your 0 ly those in the RM1,000 psf and above category. are showing resillience as property prices contin- 100 300 500 700 900 1100 Average price RM/psf “According to data from Th eEdgeProperty.com, ue to grow despite the current market slowdown. purchase — SOURCE: NAPIC/ THEEDGEPROPERTY.COM from 2012 to 2015, non-landed residential prop- Moving forward, it seems the young are erties under RM400 psf saw the largest price in- more bullish about the property market out- Ong crease. For properties sold at RM1,000 psf and look for the next one year. In an online survey by Will property prices go above during the same period, there were hardly Th eEdgeProperty.com among 1,095 respondents any movement in prices,” said Ong, adding that the from diff erent locations, races and ages, it was found up or down in the next non-landed homes segment makes up around 80% that 35% of respondents aged 20 to 30 years old 12 months? of secondary market transactions a year. were more bullish about the property market than Citing fi ndings by Th eEdgeProperty.com, Ong also the older 31 to 40-year-olds (31%), 41 to 60-year- shared with the audience the top fi ve non-landed olds (27%) and those aged 60 years old and above homes in Kuala Lumpur with the highest compound (22%). It also found that 40% of respondents be- annual growth rate (CAGR) over four years (2012- lieved that property prices will go down in the next 31% 29% 2015). Th ey were Centrio SOHO (9.1%), Mont’Kiara 12 months while 31% said property prices will go Flat Palma (8.2%), Pantai Panorama (9.6%), Pantai Hill- up and another 29% said prices will remain fl at. Up park (8.7%) and Changkat View (8.8%) (see Chart 1). Ong also told the audience that Th eEdgeProperty. He noted that properties which are located in com off ers free analytics, including price trends more developed, “self-catering areas” also enjoy and rental yields. “During such uncertain times, Pre-registration better capital appreciation and rental yields. the website can be a referral point before you make survey: On rental yields, Th eEdgeProperty.com’s data your purchase,” he said. 40% CHART 1 1,095 Down samples Top 5 most resilient projects in Kuala Lumpur > 5 years old, between RM500k-RM1mil

project name area average pri pricece 4y cagr price (rmpsf) (rm)(rm) (%)

Centrio Soho Pa Pantaintai DDalamalam 770 740,000740,000 9.1 Mont’ Kiara Palma Mont’Mont’ KiaraKiara 703 865,000865,000 8.2 Pantai Panaroma Pantai Dalam 628 663,333663,333 9.6 Pantai Hillpark Pantai Dalam 442 518,360 8.7 Changkat View Dutamas 552 606,000 8.8

SOURCE: NAPIC/ TheEdgeProperty.com CHART 2 Top 5 highest rental yields in Kuala Lumpur

project name area completion avera averagege price indi indicativecative indicative ssizeize (sqft)(sqft) (rm) rentalrental1 (rm) yield1 (%)

Panorama Residences SentulSentul 2014 1,109 503,167 3,525 8.5 Mont’ Kiara Palma Sri HartamasHartamas 2008 1,452 699,166 4,107 7.6 Pantai Panaroma PantaiPantai Dalam 2008 760 590,000 2,956 6.5 Pantai Hillpark Pantai Dalam 2011 1,091 557,636 2,394 6.1 Changkat View Dutamas 2009 1,065 969,964 5,750 6.0

1 Indicative rental yield is the ratio of asking rent and average prirce PATRICK GOH | TheEdgeProperty.com FRIDAY SEPTEMBER 2, 2016 • THEEDGE FINANCIAL DAILY TEP 11

BBCC, rejuvenating the city centre

BY LUM KA KAY Ong said the developer will be investing RM30 integrated development will com- million into creating the central transit hub to prise a lifestyle street, entertain- ecalling the olden days when Bukit be located within the BBCC development. ment hub, hotel, 350 units of 715 Bintang used to be the entertain- The developer is going to do a lot more be- sq ft to 1,423 sq ft offices within ment centre of Kuala Lumpur, chief sides banking on the existing transportation the strata office tower, six luxury executive officer of BBCC Develop- system that already surrounds BBCC, which residential towers, an 80-sto- ment Sdn Bhd Datuk Richard Ong will be developed on the former Pudu jail site. rey signature tower, parks and said its Bukit Bintang City Centre According to Ong, the transit hub will con- gardens, and the transit hub. R(BBCC) development can rejuvenate the city nect the Light Rail Transit (LRT), the future Mass Organised by TheEdge- centre once again as an entertainment hub. Rapid Transit (MRT) and the monorail lines. Property.com, the symposium Earlier this year, BBCC had inked an agree- “This is something we’re doing on our own for themed “Where to invest — ment with Mitsui Fudosan Group subsidiary the benefit of commuters. It will cost us RM30 Don’t miss the boat” was sup- Mitsui Fudosan (Asia) Pte Ltd and Sony Music million, but we want seamless connectivity from ported by The Edge Malaysia with subsidiary Zepp Hall Network Inc to develop the stations for everyone who comes to BBCC Bukit Bintang City Centre as the a 1.4 million sq ft lifestyle mall and a concert or live within BBCC. presenting sponsor. hall that can house an audience of over 2,000 “BBCC will be counting a lot on connectiv- people, respectively. ity. Forget about cars, the future is going to be “Bukit Bintang was arguably the heart of the rail lines including the KL-Singapore High Kuala Lumpur and entertainment hub in the Speed Rail. You have the MRT connected to the 1950s and 1960s. Entertainment has been the monorail and LRT right in front of BBCC. hallmark of Bukit Bintang. You can find cinemas, “If you take the LRT you can reach Chan Sow street food, and even joget dance in the streets Lin where you can transit and then reach the HSR of Bukit Bintang,” said Ong. He was speaking at station located at Bandar Malaysia (in Sungai TheEdgeProperty.com’s “Symposium on Kuala Besi). Connectivity is very important not only in Lumpur-Singapore High Speed Rail 2016”. His the Klang Valley but beyond that, to Singapore presentation was focused on how BBCC is set and even the whole world,” said Ong. to be “The new heartbeat of Kuala Lumpur”. The 19.4-acre BBCC has a gross development “Look at the evolution of KL’s Golden Trian- value (GDV) of RM8.7 billion. It is located at the gle, it’s moving south. As the city centre is al- intersection of Jalan Imbi and Jalan Pudu. It is ready well established, newer developments are being developed by a consortium comprising moving south such as the Tun Razak Exchange UDA Holdings Bhd, Eco World Development (TRX) and Merdeka PNB118. But having said Group Bhd and the Employees Provident Fund that, I think there’s still a lot of space for our in a 40:40:20 share structure over a period of 8 BBCC,” he declared. to 10 years. Believing that connectivity is absolutely vital, Besides the 1.4 million sq ft lifestyle mall, the

BBCC will be counting a lot on connectivity. Forget about cars, the future is going to be the rail lines including the KL-Singapore High Speed Rail. — Ong

PATRICK GOH | TheEdgeProperty.com

Connecting to rail TEP 12 FRIDAY SEPTEMBER 2, 2016 • THEEDGE FINANCIAL DAILY TheEdgeProperty.com | SYMPOSIUM ON KL-SINGAPORE HIGH SPEED RAIL 2016 Answers to ‘rail’ questions Q & A with the speakers

articipants of TheEdgeProper- ty.com’s “Symposium on Kuala Lumpur-Singapore High Speed Rail 2016” on Aug 27 were in- vited to email questions to the speakers after the symposium. PHere are the questions and responses. Ho Chin Soon Research chairman Ho Chin Soon

Looking at the land use and ownership pattern near each HSR station, which station off ers the best land purchase opportunities for individual investors? Th ere is a vast number of Malay Reserve Land plots around the proposed Putra- jaya Station which was reported by the media to be at Kampong Dato Abu Bakar From left: Ho, Tan, Boyd, Tang, Richard and Alvin Baginda. However, even though the lands are categorised as Malay Reserve, they are not considered agriculture lands as they You mentioned the shifting of the the cost of doing business at these places In Muar and Batu Pahat, I expect an im- are lands with development potential and “centre of gravity” for KL to Bukit is much cheaper. mediate positive reaction when the exact quite a large number of plots have been Bintang. Where was the centre locations of the stations are announced. developed into semi-detached and de- before? What does this shift mean for What’s the immediate reaction/ Th e impact will be on the immediate areas. tached houses. individual investors? response from foreign investors to the Other towns will enjoy the spillover if the For agriculture smallholdings of around A long, long time ago, the centre of gravi- HSR? inter-town and intra-town connectivity are fi ve to 20 acres, there are many opportuni- ty for KL’s Golden Triangle was where the Actually the immediate reaction would be properly done. Th e creation of new invest- ties to buy around each station. Let us now old St Mary’s Girl’s School was. Th at loca- from the locals who have already started ments must start now to retain the young consider the fi ve intermediate HSR stations: tion was surrounded by Jalan Sultan Is- buying land in Iskandar Puteri for the past from moving away. New investments will Labu in Seremban; Ayer Keroh in Melaka; mail, Jalan Raja Chulan and Jalan P Ramlee. two to three years at least. Th is is probably also create job opportunities which in turn and Pagoh in Muar, Batu Pahat and Gerbang, However, after the Petronas Twin Towers due to the fact that they are more familiar will create demand for houses. Iskandar Puteri — all in Johor. were completed, it was then obvious that with the area. For Labu and Ayer Keroh, agriculture land the centre of gravity of the Golden Triangle Foreigners who are responding so far are opportunities are located to the North. For moved and resided there. mainly Singaporeans. Th is is not surprising Savills (M) executive the Pagoh HSR station, agriculture small- With the Merdeka PNB118 tower, Bukit as they have been a major player in land- holdings are to the East and West. For Batu Bintang City Centre, Tun Razak Exchange, banking all along. With a stronger curren- chairman Chris Boyd Pahat, the smallholdings are located to the IKEA Cheras and Bandar Malaysia situated cy, the issue of aff ordability is less pressing. East of Batu Pahat town surrounding Genting at the south of the Golden Triangle, it is only Th e issue is not whether the HSR will take The HSR has been described as Bhd’s 8,000-acre landbank/Pura Kencana. a matter of time before the centre of gravity place but rather when it will be operational. a “game-changer”. What do you For Gerbang, Iskandar Puteri, opportunities for the Golden Triangle will move South. think are the three industries that are located to the South of the HSR station. And a southward movement would mean Will the HSR be a threat to Johor in would be greatly impacted by the Out of the fi ve HSR stations mentioned, the Bukit Bintang location/vicinity. any case? project and three that would be least the station that has the most number of As such, real estate values would see It will be a threat if we are unable to at- impacted? Why? agriculture smallholdings nearby would faster capital appreciation around the Bukit tract investments that off er a better pay and If one could briefl y summarise the research be both Pagoh/Muar and Batu Pahat. It all Bintang location/vicinity. I actually wrote working environment. Th e ease of travel- papers that have analysed the HSR impact depends on the price and whether the lands a book Th e Rise of Bukit Bintang about fi ve ling will mean many will resort to working on real estate in many other countries, it are available for purchase. Happy hunting. years ago! in Singapore, earning the stronger curren- would appear, fi rstly, that the service indus- cy and shuttling back. In this sense, it is tries might see a gradual re-shaping. Th is is Do you think the HSR will lead to a still good as the money earned will still be a continuation of a trend that has already further decentralisation of property KGV International spent in Johor. However, the loss of human started; in particular, moving cost-sensitive development to places like Seremban, resource will aff ect our manufacturing and service providers into Kuala Lumpur as well Pagoh and Batu Pahat? How would Property Consultants services sectors. Th ere is a need to trans- as Iskandar where operating costs are very this aff ect the property market in KL executive director form the entire investment matrix in Iskan- competitive. Of course, it is unlikely that and Johor? dar Malaysia to retain talents. many of the staff will actually use the HSR Decentralisation? No. Th e greatest impact Samuel Tan Th e nett-nett conclusion is that the HSR to commute. In my view, it is just that the would be at the two end stations, which are will benefi t Johor as it will enjoy the con- added connectivity will tip the scales a little Bandar Malaysia and Jurong Country Club, Do you agree that growth would be glomeration of two larger economies, ie further in favour of Malaysia. Singapore. Meanwhile, the Putrajaya sta- concentrated more in Iskandar with Singapore and the Klang Valley. Both are Secondly, there may be some impact on tion will unlock more Federal Lands (var- only some spillover to Muar and Batu high-cost centres. Iskandar Malaysia stands the housing industry but this depends a lot ious training centres) as pointed out by a Pahat due to Iskandar’s proximity to in good stead to off er an alternative but yet on the fare structure. Th e French TGV high sharp member of the audience. Singapore? able to enjoy the best of both worlds. speed rail which runs from Paris to Lyon pro- In short, the Putrajaya station and both I agree that Iskandar Puteri will gain a lot moted the development of sub-urban Paris the end stations in Singapore and Malay- more than Batu Pahat and Muar due to its When will we see the impact of the to relieve pressure of demand for housing in sia will benefi t. For the remaining fi ve HSR proximity to Singapore. One of the main in- HSR on Johor’s property market? the city centre. It turned the area around the stations, only land close to the HSR stations hibitors of investment fl ow into Johor Bah- We have already seen the increase of land fi rst stop from Paris into a “dormitory town” will stand to gain. ru is the constant traffi c jam on both links. values when the HSR idea was mooted. by use of a fare subsidy. Can this happen in Th e land economics of how cities grow With the HSR, this problem will be resolved. Raising property values is a way of wealth Putrajaya, Seremban or Iskandar Puteri? We and prosper will still favour Greater KL and Having a regular shuttle service between creation. Moving forward, there will be an may not have the answer for a long while. It Singapore. Greater KL and Singapore have Singapore and Iskandar Puteri in Johor increase in land prices due to a combina- depends on the fare-pricing structure, both been growing at a faster rate than the smaller means easier and regular flow (every 15 tion of speculation and investment. initial and long-term. It is possible that the towns even before the HSR project, which mins) of people between these two destina- When construction starts, demand for HSR will be reluctant to encourage short-dis- will only come about in 10 years’ time. And tions. I believe many Singaporeans and Ma- residential and shophouses will also increase tance commuters to load up their trains at when the train starts running, Greater KL laysians working in Singapore will shuttle to to cater to the workforce. Hotel occupancy either terminus. and Singapore will grow even faster. As for work while their homes are in Johor Bahru. will be enhanced. Certainly, there will be Th irdly, I believe another winner will be the smaller towns, only selected locations Th e other two towns will benefi t if plans a positive impact on the Iskandar Puteri the tourism industry. Inevitably, Singapore will benefi t. are made to attract investments there as property market. and Malaysia are part of the same circuit for FRIDAY SEPTEMBER 2, 2016 • THEEDGE FINANCIAL DAILY TEP 13

PICTURES BY PATRICK GOH | TheEdgeProperty.com Is there still space for developers to thrive in the KL city centre? Yes, I believe there is. Th ough land is in- creasingly scarce in the city, there are op- portunities to “regenerate” old sites. BBCC (Bukit Bintang City Centre) is one good example. Where was the centre of gravity in the KL city centre before the BBCC development? And what does this shift mean for individual investors? In my view, the KLCC precinct has always been the centre of gravity. Th e Bukit Bin- tang precinct (in which BBCC is located) is fast creating its own gravitational pull aris- ing from major development projects tak- ing place here. Th e Merdeka PNB118 tow- er is touted to be the next tallest building in KL and the mega Tun Razak Exchange are iconic projects that will attract com- mercial activities as well as city dwellers to the Bukit Bintang/Pudu belt. For indi- vidual investors, the Bukit Bintang area many overseas visitors, and to get from one Well, it’s a very exciting and signifi cant de- What do you think are the critical presents a viable option as launch prices to another, a ride on the HSR will become a velopment and one which Malaysia can be success factors for the HSR project? for initial phases of new projects here are “must”. Possibly a stop-over at Ayer Keroh justly proud. But I think one should be wary For people to travel frequently on the HSR, very attractive given the potential in the will become an integral part of the itinerary, of excessive and illogical land speculation. the fares have to be competitive to other uplifting of values when the area matures and Melaka needs to gear up for one-day Just sit back and enjoy the ride! modes of transport currently available. and the ongoing iconic projects are com- and half-day tours. Th e last mile connectivity must be there. pleted in a few years’ time. Th e fourth industry — retail — will also Th ere is no point saving time travelling on benefi t since Malaysia is already known for Henry Butcher (M) chief the HSR to end up being frustrated by the bargain shopping. lack of public transport or spending hours TheEdgeProperty.com Industries that will see minimal impact operating offi cer Tang on the road just to get to the end destination. are those that are unrelated to passenger Chee Meng Th e frequency and scheduling of the product and business movements, including for example logistics, trains must be done to accommodate the development director manufacturing and agriculture. travel patterns of the bulk of the users as How’s/what’s the immediate much as possible. Th e actual location of Alvin Ong A similar hype was generated when reaction/response from foreign the HSR station must not only be conven- KLIA was fi rst launched. We now investors to the HSR? ient and accessible, but to gain the most You mentioned that appreciation in know that growth around that area Generally, the response from foreign in- advantage out of the HSR, it should be lo- land values due to the HSR are best has not been up to expectations. vestors has been positive. Investors from cated in an area which will benefi t from the captured post announcement to fi ve What do you think happened? China have had fi rst-hand experience on enhanced accessibility and infrastructur- years after the opening of the HSR. Th ere is a tendency in Malaysia for all sig- how HSR has impacted economic growth al improvements that the HSR can bring. How high will the value appreciation nature infrastructure projects to be viewed and property values back home while Sin- be in fi ve years? as real estate opportunities! Some, such as gaporean investors are generally excited What kind of business opportunities Studies on the HSR’s impact on property highways, often are, but let’s apply some about the signifi cant savings in travel time do you foresee coming up in Melaka prices have shown that the results are mixed common sense. Have Changi and Heath- to key cities in Malaysia. Nevertheless, we and Seremban in view that many (ie some cities see appreciation, some see row become residential epicentres? Did have not seen any signifi cant increase in more tourists will be visiting these no impact, and some even see negative im- Subang house prices go through the roof interest in real estate investment yet from two areas once the HSR starts? pact). Given what we know now, it will be when Firefl y started a Singapore service foreigners arising from the latest develop- With more tourist arrivals, F&B businesses hard to estimate how high the value appre- from the Subang airport? How priceless are ment on the HSR. In any case, the main will defi nitely be a major benefi ciary and so ciation will be in fi ve years, if any. condominiums in KL Sentral where you investment focus of foreigners has always will hotels and serviced apartments. Shop- can walk to the KLIA Express? Both KLIA been KL, Iskandar Malaysia and Penang ping malls located near the HSR stations or How true is your data? How well does and the future HSR are enormously impor- and to a small extent, Melaka. in areas which are frequented by tourists it tell the current situation? tant to the long-term viability of Malaysia’s should also see an increase in business as Th e data is based on actual transactions economy but they should not be seen as a Seremban seems to be pressing will tourist attractions/theme parks. from the National Property Information chance to make a killing overnight. ahead in its property development Centre (Napic) over the past four years. regardless of the HSR — most It provides a good overview of how the After the HSR terminal, the MRT2 probably due to demand and its BBCC Development subsale property prices were trending, and the Express Rail Link (ERL) in proximity to KL. Do you agree? but it is by no means a way to predict how Bandar Malaysia are completed, Yes. All the townships that have been Sdn Bhd CEO Datuk property prices will move in the current what will happen to KL Sentral? launched to date have been planned well Richard Ong situation. Would it impact the values of before the HSR became certain. Seremban properties (offi ce, business suites has always been looked upon as a satellite According to your presentation, and condo) there? city for KL in view of its proximity although Do you think the HSR development existing HSRs have some positive KL Sentral is already a huge success and it the heavy traffi c on the highway and ac- will cause KL property values to be impact on property values. What is will of course be completely built-out by cess roads into KL city during peak hours deemed unaff ordable? your forecast for Malaysia? the time the HSR starts running. Since HSR has been somewhat of a deterrent to daily I don’t think the HSR will infl ate KL proper- Studies on the HSR’s impact on proper- terminates in Bandar Malaysia and since commuting. Nevertheless, there is already ty values to the extent that properties in KL ty values have shown that the results are there will be excellent connectivity from a good linkage between KL and Seremban become unaff ordable. In many advanced mixed (ie some cities see appreciation, the HSR terminus via MRT and probably via the North-South Highway, express bus cities, the HSR is one of the critical infra- some see no impact, and some even see ERL, then I think some of the pressure will services and rail links (KTM Komuter and structures that elevates a city to interna- negative impact). However, personally, I be taken off KL Sentral and you will see ETS). Th e HSR, when completed, will be an tional status by connecting such cities to think that if the HSR stations are well em- more development focused on the South added bonus. If we are to look at the size of international borders. Once this happens bedded into the surrounding area’s rede- and East of the city including, of course, the townships in Seremban which general- the property prices no doubt will rise but velopment strategy, property prices will Bandar Malaysia itself. ly range from 500 to more than 5,000 acres, likewise their rental yields and capital val- benefit. Question is by how much, and it is clear that they have been planned to ues will also correspondingly rise. Aff orda- when will the eff ect kick in. Given the lit- Do you think the market is over- accommodate demand emanating from bility is also a measure of the value of the tle details we know now, it will be hard to excited about the HSR? more than just Seremban. property versus the returns it can generate. place a forecast. TEP 14 FRIDAY SEPTEMBER 2, 2016 • THEEDGE FINANCIAL DAILY NEWS M101 SkyWheel’s SoFo units attract over 1,000 potential buyers

ARTIST IMPRESSION FROM M101 HOLDINGS BY TAN AI LENG iconic as others could surpass you with an- other taller building but a uniquely designed KUALA LUMPUR: Th e 1,200 SoFo units of building with the company name on it will the M101 SkyWheel development, by M101 defi nitely be an everlasting building on the KL Holdings Sdn Bhd, have received encour- city skyline,” said the 37-year-old developer. aging response as over 1,000 potential buy- “Th ere will be an MRT (Mass Rapid Tran- ers have registered their interest since the sit) station built in front of M101 SkyWheel. project was previewed early this year, said Th e MRT construction is slated to be com- M101 Holdings founder and executive di- pleted by 2022. We are also eyeing to hand rector Datuk Seth Yap Ting Hau. over completed units to buyers in 2022,” Th e M101 SkyWheel development com- he added. prises two 78-storey towers and a ferris-wheel, The M101 Meanwhile, M101 underwent some cor- which is 60m in diameter, which will be built SkyWheel porate exercises in July which saw the depar- on the 52nd fl oor in between the two towers. development ture of former executive director Datuk Chua Th e integrated development will be on comprises Eng Pu to pursue his own interest while Yap a 2-acre site in between Jalan Raja Muda two 78-storey emerged as the sole owner of the company. Abdul Aziz and Off Jalan Tun Razak in the towers and a “Th e corporate exercise and corporate re- Kuala Lumpur city centre. It has a gross de- ferris-wheel, structuring will be completed velopment value (GDV) of RM1.5 billion. which is 60m in October, but the cor- Components of the freehold development in diameter porate exercises will not include the Sofo units, a retail mall, offi ce have any impact on the space and serviced suites, as well as a hotel. development nor our According to Yap, the company will offi cial- Porsche for the interior design of its 96-unit Centre especially with its uniquely designed branding strategy,” he ly launch the 1,200 SoFo (Small Offi ce Flexible luxury suites which will have an estimated 20-storey ferris-wheel,” he said. emphasised. Offi ce) units in November this year. Th e units selling price of above RM3,000 psf. Yap explained that when the lights are on will have built-up sizes ranging from 400 sq The development also has a 4-storey at night, lights on the 52nd fl oor and below ft to 800 sq ft with estimated selling prices 200,000 sq ft retail mall, high-end office will form the alphabet “M” while lights on the ranging from RM1,200 psf to RM1,500 psf. suites and Asia’s fi rst Planet Hollywood Hotel. ferris-wheel between the two towers will form He noted that the SoFo units can be used “Th e construction will start this year after “101”, thus resembling the company’s name. as an offi ce or residence or for short rental the ground-breaking ceremony. Th e overall “We wanted to build an iconic accommodation. construction will take about six years,” he noted. building that will be remembered “Response has been overwhelming since Th e company will hold a ground-break- by everyone. Being tall is not the preview early this year. We have received ing ceremony on Sept 8, 2016. Federal Ter- over 1,000 registrants showing their interest. ritories Minister Datuk Seri Utama Tengku Some of them even intend to book the pent- Adnan is expected to offi ciate the ceremony. house unit of our Porsche Suites, which is un- “Once completed, this development will Yap: We wanted to build an der planning,” he told Th eEdgeProperty.com. be another signifi cant building which will iconic building that will be Th e group has partnered with Studio F A draw tourists visiting Kuala Lumpur City remembered by everyone HARIS HASSAN / TheEdgeProperty.com

Southkey JB aims to launch RM800 mil GDV development next year

ARTIST IMPRESSION FROM SOUTHKEY PROPERTIES BY TAN AI LENG With all the ongoing construc- leasehold mixed-use develop- tion, the previous Majidee military ment which also comprises 41 PETALING JAYA: Th e Southkey de- camp land in Johor Bahru which units of 4-storey shop offices and velopment in Johor Bahru City Cen- faces Wisma Daiman has seen its five units of 4-storey freestanding tre is slowly taking shape. Its third value escalating. Boutique Pods. development — Precinct 1B with Quek said the first serviced “The shop offices are selling an estimated gross development residence development — South- from RM2.8 million. All 41 units value (GDV) of RM800 million — key Mosaic serviced residences were fully sold within a day at a will be unveiled in the second half — has seen the selling price of preview in 2013,” he added. of next year. the second tower rise nearly 30% Meanwhile, one of the Boutique Southkey Properties Sdn Bhd ex- to RM880 psf within five months Pods, which had targeted en-bloc ecutive director Quek Cham Hong after the launch of the first tower buyers, has been sold for RM33 mil- said the development plan for Pre- in early 2013. lion to a fi nancial service provider. cinct 1B is now pending approval “When we launched Tower A Th e built-up sizes of the Boutique from the local authorities. (first tower) in 2013, the selling Pods range between 20,875 sq ft “Th e 12-acre mixed-use devel- price was from RM460,000 or an and 59,000 sq ft with prices from opment comprises shop offices, TheEdgeProperty.com average of RM680 psf. The take-up RM17 million. SoFo units, serviced apartments and rate of Tower A has reached 95% Overall, the construction of shared offi ce facilities such as meet- Quek said the company is looking for potential while Tower B’s minimum selling the residential component at ing rooms. Th e commercial element joint-venture opportunities to develop the remaining price has increased to RM570,000 Southkey is reaching 60% while targets small and medium enterpris- parcels of land in Southkey or an average of RM880 psf,” he commercial projects are nearing es,” he told Th eEdgeProperty.com. explained. completion.

Apart from that, the construc- start at the end of this year and MOHD NAZAM / MOHD IZWAN The two-block Southkey Mo- Looking ahead, Quek said the tion of a 268-room business hotel is expected to be completed by saic serviced residences houses company is also planning for started in July. Th e construction 2018,” he added. between Southkey City Sdn Bhd 584 units with built-up sizes from more joint-venture opportunities will take about two and a half years, Meanwhile, the construction of and IGB Corp Bhd. 676 sq ft to 1,509 sq ft. to develop the remaining parcels said Quek. the Mid Valley Southkey Megamall Th e 330-acre Southkey is acces- He noted that Tower B has seen of land in Southkey. “Infrastructure and amenities is progressing and phase 1 of the sible through the Eastern Dispersal 50% of its units sold after the launch. “Currently, we are in talks with development are in progress. We development is expected to be Link (EDL), Tebrau Highway and Th e developer has recently obtained several parties to bring in an in- sold a 3.5-acre plot to Columbia completed in 2019. the newly upgraded six-lane Jalan approval for the release of the un- ternational or private school to Asia, an international healthcare The 37-acre megamall devel- Bakar Batu which connects to Ban- sold Bumiputera units. Southkey. We have allocated company, in August last year. The opment by Southkey Megamall dar Baru Permas Jaya — the linkage The serviced residences are about eight acres of land for the construction of the hospital will Sdn Bhd, is a 30:70 joint venture to Northeast Johor Bahru. part of the Southkey Mosaic school,” he added. FRIDAY SEPTEMBER 2, 2016 • THEEDGE FINANCIAL DAILY TEP 15 NEWS Visualising a better future

MOBILIZING INNOVATION DEVELOPING CHANGE eing aware of future trends not only enables DATE businesses, including 29 SEPT 2016 those in the building TIME and construction in- 0800-1700 dustry, to stay relevant VENUE Bbut also empowers them to im- WISMA REHDA prove the community in a dynam- ic and sustainable way. To predict future trends, one has to consider present situations and ORGANISED BY challenges fi rst, says Jerry Ong, sen- ior vice-president of architecture of the healthcare division at CPG Consultants in Singapore. YOUTH “Most of the issues we face to- IN PARTNERSHIP WITH day will not be resolved in the im- mediate term but in an ongoing process that we pursue to come Ee: Mobile technology will continue to be a Ong: It’s about thinking ahead to design Loh: We have to be current, explore and up with the best solutions for the game changer something now that lasts question the scenarios OFFICIAL MEDIA future. It’s about thinking ahead to design something now that lasts,” says Ong, who is involved in the tings are ways to learn about future its evolutionary process. We have the space around us, and to col- design of sustainable healthcare trends, he off ers. to be current, explore and ques- lectively fi nd a voice for it all”. facilities. Ong will be speaking at “Keep an open mind to learn tion the scenarios — and impact Future trends such as techno- the Future Forward Forum organ- from diff erent players across diff er- — of possible futures in a holistic logical shifts are able to promote ised by Rehda Youth and Nippon ent industries. We should not follow fashion. It’s about future-proofi ng a diff erent user experience, which TheEdgeProperty.com is the me- Paint Malaysia on Sept 29. trends blindly, but we need to be ideation and implementation,” leads to new, dynamic environ- dia partner. The forum will fea- He cites Southeast Asia’s growing aware of what they are,” he says. says Loh. ments, he adds. ture keynote sessions and pan- and increasingly aging population Another speaker at the upcom- Also to be featured at the Future “Mobile technology will con- el discussions exploring future as a new reality that is already in- ing forum will be leading Ma- Forward Forum will be Ee Soon tinue to be a game changer. I trends that could sustain, propel fl uencing architects. laysian conservation architect, Wei, CEO of Art Printing Works see a shift in ownership as well, or disrupt the property develop- “How do we design and cater Arkitek LLA Sdn Bhd director Sdn Bhd and managing partner where security in items like cars ment industry. for the future old today? If we don’t Laurence Loh. He believes that of Uppercase Sdn Bhd. and homes are being reevaluat- Other speakers include Tange start facing these realities now, it being an architect, one is by de- Ee is known for his work in ed, due to the changing nature of Associates president Paul Tange, will be too late to do so in the fu- fault operating in the business of transforming an old printing fac- work and travel, as well as smaller TA Global Bhd CEO Tiah Joo Kim ture,” he adds. forecasting the future. tory in Bangsar, KL, into an inno- family units,” Ee notes. and Sansiri Public Company Ltd Exposure to design projects “It involves being immersed vative and creative space. For Ee, The Future Forward Forum vice-president of business devel- overseas, learning from them and constantly in R&D about all as- predicting future trends involves on Sept 29 is organised by Rehda opment and new business (high- contextualising ideas to local set- pects of the built environment and “listening to both people and to Youth and Nippon Paint Malaysia. rise) Varangkana Artkarasatapon.

LEGAL

Why strata owners need to attend general meetings

here is a clear lack of be actively involved in the man- awareness and under- BY CHRIS TANN agement council. standing on the part Strata owners are likened to of homebuyers in re- shareholders of a management lation to strata living corporation. Thus, their active which, consequently, tegrity, yet the council often only participation in general meetings Tleads to several common miscon- involves a minority of the owners. is greatly encouraged so that the ceptions. A home owner has to under- management body can work for For example, their reluctance stand that the management body the benefi t of the strata develop- to take part in the management may only act upon the major deci- ment as a whole. council. They may consider it a sions concluded at general meet- Th e agenda in a general meeting waste of time or they do not want ings and its decision-making is usually relates to the whole stra- pong” or “taman”. As such, it is ut- ed to cover the popularly desired to get involved as they fi nd it trou- closely related to the benefi ts, com- ta development and this includes terly important for strata owners gated-and-guarded schemes with blesome as it comes with a heavy forts and enjoyment of the strata incorporating additional by-laws, to actively participate in the man- common property. responsibility. Another common owners rather than for the man- appointing an approved company agement council to ensure effi cient misconception among strata ti- agement body. auditor to audit the maintenance management of the strata property Chris Tan is a lawyer, author, tle owners is the belief that they Hence, it is always wise to be and sinking fund accounts, increas- for the benefi t of strata owners. speaker and keen observer of real shouldn’t pay service charges if actively involved in the general ing or maintaining the charges and We all want a well-maintained estate locally and abroad. Mainly, they are not happy with the qual- meetings, if not the management sinking fund, and considering any strata property. Otherwise, it will he is the founder and now Man- ity of service. committee meetings, in order to matters connected with the main- result in a drop in the property’s aging Partner of Chur Associates. Strata living requires strong par- have one’s say in matters that re- tenance and management of the value. ticipation from the owners. The fl ect and aff ect the well-being of common property. Th e concept of strata living was If you have questions that you lack of participation from owners the residents and owners of the Strata management is the driver introduced in Peninsular Malaysia would like to pose to Chris, please in the management council is a strata development. for strata living which is fast be- in 1985 and is a form of property go to the Tips section of www. constant challenge to the manage- Keep in mind that an effi cient coming a way of life in urbanised ownership and development for- theedgeproperty.com to pose your ment. Th ere is always a struggle to strata management directly im- Malaysia. One must always be re- mat that caters for the subdivision questions get people to sit on the manage- pacts the valuation of the entire minded that strata living is intend- of buildings to ensure higher den- Disclaimer: The information here ment council. Limiting tenure of strata development and the strata ed for community living which is sity and better effi ciency of land does not constitute legal advice, the management council members units within. So that itself could similar to the “rukun tetangga” as utilisation. In 2007, the format of please seek professional legal advice is a noble action to preserve its in- be a motivation for an owner to practiced in the past in the “kam- strata development was expand- for your specific needs. TEP 16 FRIDAY SEPTEMBER 2, 2016 • THEEDGE FINANCIAL DAILY FEATURE Antarctica now has a jaw-dropping luxury hotel

PICTURES BY WHITE DESERT/BLOOMBERG ravel to Antarctica has reached fever pitch. Inside the You can go by yacht. You can White Desert come and go in a single day. You sleeping pods can even book a fl y-around for New Year’s Eve. And now you Tcan stay in a fi ve-star hotel with bespoke furnishings and its own fl eet of aircraft. To be fair, the White Desert camp isn’t exactly new. And it’s no secret spot, either; the guest ledger includes such names as Prince Harry and Bear Grylls. But as a means of celebrating its 10th anniversary, the so- called most remote property in the world has gotten a complete luxury overhaul. What it now humbly calls “sleeping pods” are six heated fi berglass domes, with bamboo headboards, Saarinen chairs, fur throws, and en suite bathrooms stocked with sustainable Lost Explorer-brand toiletries, created by a scion of the de Rothschild family. Wooden skis adorn the walls; thick parkas for each The new dining guest hang from free-standing coat racks. room has little A White Desert And each suite stands alone on a rugged competition for guest explores an strip of land in the interior of Antarctica, Antarctica’s best ice tunnel midway between a frozen lake and tower- restaurant ing walls of ice. Drama is in no short supply. Perhaps the most signifi cant renovations have taken place in the lodge’s library lounge and dining room. Whereas the dining room once consisted of one long wooden table, it’s now a more formal aff air, with furs thrown over chairs that wouldn’t feel out of place in a Brooklyn Heights apartment. After hangout sessions with 6,000 emperor penguins, this is where guests share convivial, three-course meals comprising ingredients and wines fl own in from Cape Town. (Th ey’re prepared by an in-house chef who cooks privately for Arrival at the Unknown International Airport the British Formula One driver Lewis Ham- ilton when he’s not at camp.) Running a camp like White Desert re- preflight to maximise efficiency. the glue — and installation had to be done US$72,000 per person, all-inclusive. quires “some of the most complex and re- Once the cargo landed on the blue ice with great speed and precision. For that hefty price tag, you’ll get all the mote logistics in the world,” said Robyn runway, she said, “it was transported by a “Everything freezes far quicker than nor- cold-weather adventures your heart can de- Woodhead, who co-founded and directs the specialised 4x4 across a crevasse-ridden mal conditions here,” she said, adding that sire. Popular choices send guests trekking lodge with her husband. Renovating one is route” to the camp. Th en all of the old ma- “the metal freezes to your hands, so our team into blue ice caves, kite-skiing, abseiling, even more of a challenge. terials had to be shipped back to Cape Town had to be extremely focused and careful warming up at the local sauna, and visiting “Everything for the hotel refurbishment for safe disposal. (Th at practice applies also when working.” Th inking about the process researchers. Round-trip fl ights from Cape had to come in on an Il-76 cargo plane, to waste generated by guests.) White Desert, in hindsight, she joked, “It’s not a brief most Town are also part of the deal. costing €15 (US$17) (RM 68) per kilo- she explained, “operates on a zero-impact interior designers are used to.” Th e one thing that’ll cost you extra? An gramme,” said Woodhead. What’s more, policy”. Want to see the fruits of their labour? exclusive souvenir. getting all the materials to Antarctica’s Sustainability was a key concern through- As with anything here, it’s not as easy as If you nominate yourself for an overnight Unknown International Airport — yes, out the process. “Many of the simple ele- taking to Expedia. Th e season for travel to excursion to the South Pole, which requires that’s it’s official name — required multiple ments, such as getting water for the con- inner Antarctica is short — November to a fl ight on a prop plane and a trek in frigid flights. Since each plane could transport struction work, involved drilling through a December only — so you’ll have to book temperatures, you’ll earn access to a custom only 20 tonnes at a time (tallying up exor- two-metre-thick ice lake,” explained Wood- one of White Desert’s two trips that still have Bremont timepiece. It’s US$7,500 and comes bitant shipping fees), the Woodheads had head. Th e wallpaper was sourced from en- availability. (One is eight nights long; the engraved with the date of your visit — as if all the furnishings unboxed in Cape Town vironmentally friendly designers — as was other is 11.) Both cost the same amount: you might ever forget it. — Bloomberg

Inside the White Desert sleeping pods

TEP 18 FRIDAY SEPTEMBER 2, 2016 • THEEDGE FINANCIAL DAILY FEATURE 7 penthouses with private swimming pools

SEE HOY CHAN SDN BHD GROUP BY RACHEL CHEW 1. Seringin Residences, penthouse that comes with its Kuchai Lama own sky garden with panoram- Indicative price psf: RM560 ic city views and a swimming Indicative rental psf: RM1.75 pool —that would probably fit Indicative rental yield: 3.7% the description of luxury high- Location: Kuchai Lama rise living. Tenure: Freehold ATheEdgeProperty.com did a quick search Unit built-up sizes: 6,503 sq ft and found that it is not difficult to find a to 6,760 sq ft penthouse on the secondary market that Average asking price: RM4.67 offers nice views but it is definitely tough million for 6,503 sq ft units to find penthouses that have private swim- Description: Developed by ming pools. See Hoy Chan Sdn Bhd Group, Nevertheless, we found them and picked Seringin Residences comprises seven high-rise residential projects in Kua- 543 units housed in two towers la Lumpur that offer penthouses, each with of 24 storeys each. its private pool. The price may not matter to At the podium of the towers is those who can afford them, but really, how an array of facilities, ranging much do they cost? from a 50m pool and lifestyle Let’s take a look at Th eEdgeProperty.com’s pavilions to a convenience shop, listings — accurate as at Aug 15, 2016): playground and fl oating gym.

KEN HOLDINGS BHD E & O PROPERTY DEVELOPMENT BRDB DEVELOPMENTS SDN BHD

2. Ken Bangsar, Bangsar Description: Ken Bangsar 3. Dua Residency, KLCC Description: The project 4. The Troika, KLCC Description: Developed by Indicative price psf: RM1,150 is a low-density, high-end Indicative price psf: RM812 comprises a pair of 20-storey Indicative price psf: RM1,368 BRDB Developments Sdn Indicative rental psf: RM4.43 condominium with only Indicative rental psf: RM3.58 towers off ering 288 residential Indicative rental psf: RM5.03 Bhd, The Troika is one of the Indicative rental yield: 4.77% 80 units in a single tower. Indicative rental yield: 5.29% units. The luxury condominium Indicative rental yield: 4.42% most expensive projects in the Location: Bukit Bandaraya, The project won the FIABCI Location: Jalan Tun Razak was completed in April 2007. Location: At the intersection KLCC area. It comprises three Bangsar Malaysia Property Award in Tenure: Freehold Some facilities available in the of Persiaran KLCC and Jalan residential towers of 38, 44 Tenure: Freehold the Sustainable Development Unit built-up size: 5,472 sq ft development are an Olympic- Binjai and 55 storeys, and features Unit built-up sizes: 6,600 sq ft category in 2011. Facilities Average asking price: RM4.5 size swimming pool, library, Tenure: Freehold 154 luxurious condos, eight to 8,500 sq ft include a clubhouse, million for 5,472 sq ft units gym and playroom. Unit built-up sizes: 5,443 sq ft penthouses that go up to three Average asking price: RM9.35 swimming pool, Jacuzzi, hall, to 21,688 sq ft storeys, 57 SOHO units, retail million for 8,500 sq ft units gym and concierge service. Average asking price: RM19 outlets, boutique offi ces and million for 7,430 sq ft units restaurants.

SUHAIMI YUSUF / TheEdgeProperty.com E & O PROPERTY DEVELOPMENT AMATIR RESOURCES SDN BHD

5. Sastra U-Thant, Description: Sastra U-Thant 6. St Mary Residence, KLCC Description: St Mary Residence 7. Seni Mont’Kiara, Mont’Kiara Description: Developed by Ampang Hilir was completed and handed Indicative price psf: RM1,380 is a high-end condominium Indicative price psf: RM769 Amatir Resource Sdn Bhd, Indicative price psf: RM1,223 over by mid-2013. It is a high- Indicative rental psf: RM4.85 made up of three blocks with a Indicative rental psf: RM3.56 Seni Mont’Kiara is a luxury Indicative rental psf: RM4.10 end, low-density project jointly Indicative rental yield: 4.22% total of 457 units. At the heart Indicative rental yield: 5.56% condominium that has two Indicative rental yield: 4.03% developed by CapitaLand and Location: Jalan Tengah, Kuala of it is the 1.2-acre central park, Location: Changkat Duta Kiara 40-storey towers and two Location: Along Embassy row Juta Asia Corp. It has only 126 Lumpur a fully-turfed urban sanctuary Tenure: Freehold 12-storey low-rise blocks that at Taman U-Thant units and the minimum built- Tenure: Freehold with a manicured lawn Unit built-up size: 8,902 sq ft house 605 units in total. Every Tenure: Freehold up is 1,744 sq ft. Besides a full Unit built-up sizes: 4,130 sq ft fl owing right to the edge of the Average asking price: RM8.2 unit is semi-furnished and Unit built-up sizes: 5,500 sq ft range of facilities available in to 6,769 sq ft swimming pool, gym, fi tness million for 8,902 sq ft units comes with a private lift lobby. to 6,070 sq ft the project, amenities nearby Average asking price: RM10 centre, children’s playground Average asking price: RM6.6 are a school, supermarket, million for 6,769 sq ft units and function room. million for 6,017 sq ft units retail and hospital.

TEP 20 FRIDAY SEPTEMBER 2, 2016 • THEEDGE FINANCIAL DAILY HOME IDEAS

PHOTOS COURTESY OF RAYMOND LEE Design inspirations from Sri Lanka (Part 2)

BY RAYMOND LEE

01 y recent trip of discovery and in- spiration to Sri Lanka culminated at its capital, Colombo. Following the short but wonderful sojourn at the Galle Fort Precinct, we head- ed north towards Colombo using Mthe new highway linking Galle and Colombo. The journey took only two hours — half of what it used to be! Progress indeed. On the interior décor and style front, Sri Lanka continues to be a hotbed for creativity and design. One person making a positive impact on the de- sign scene for many years now is Shanth Fernando. An advocate of tasteful living and a keen art collector, Shanth established the Paradise Road brand of locally crafted homeware in 1987. He went on to open the fi rst Paradise Road Galleries at the late architect Geoff rey Bawa’s former offi ce some 27 years ago, fi lled with a personally curated collection of décor and lifestyle objects. Th e Paradise Road Galleries has now been ex- panded into a series of shops, art galleries and luxurious accommodation. Known for his stripes-inspired designs, Shanth’s 02 03 04 interiors usually feature a restricted colour palette of black, white and beige with highlights of Chi- nese lacquer red. Besides him, one of Shanth’s two children, Saskia, has an art gallery featuring some of the brightest stars of Sri Lankan contemporary art and a jewel- lery label, Papillon du Th é. Visiting the home decor shops, cafés, art gal- leries and hotels here has certainly provided me with many design ideas and inspiration to share with you. Ideas that can be easily adapted to our homes. Enjoy!

Raymond Lee is an interior designer and founder of Xceptional Interiors. He can be contacted at Email: [email protected] or check out 05 06 www.xceptional-interiors.com

01. Bring the outdoors in! In 02. The Oriental theme continues 03. At the recently refurbished 04. Don’t be afraid of stripes. 05. Make a dramatic statement! 06. Venturing further out of this ocean-facing room, the with the use of this Chinese Galle Face Hotel in Colombo, Inside the suites of the These four simple black Colombo, I discovered the designers have deliberately Shanxi lacquered cabinet as I spotted this marble top Paradise Road Tintagel glazed jars (at least 900mm newly opened Heritance incorporated the colours of useful storage in a dining table of at least 1500mm in boutique hotel, you will see tall) sitting on this two- Negombo. Strategically located nature with the inclusion of room and a pedestal for this diameter complete with a Shanth Fernando’s trademark metre long antique Chinese with a spectacular beach front, fabrics in various shades of antique wooden horse from wonderful assemblage of use of stripes everywhere. table certainly capture this terrace caught my eye as it green and pops of “ocean blue” the Jaffna region of Sri Lanka. clear glass vases of different Here, there are thick bold one’s attention. It’s the incorporates a shady pergola, as illustrated in the upholstery Notice also the collection heights filled with fresh stripes running horizontally juxtaposition of the precious four planter’s chairs and a of the arm chair. The fl oor tiles of vintage handwoven seed colourful blooms. Each vase on the walls, stripes echoed and the ordinary that makes water feature that surrounds are also in the colour of the baskets that have been features only one type of on the timber head board and this vignette so interesting, its three sides. You could do soft sand complemented by framed and presented as flower. Rather than your even on the bedcover. These even though the corridor the same and create a spot wooden accents in dark taupe. artwork. Hanging above usual large, single carefully stripes create an illusion of where this table was placed to enjoy a cup of tea with the This is an idea you can adopt is a French-style crystal manicured arrangement, space in an otherwise small was rather tight. vista or your garden around in your space especially if you chandelier. Similar pieces I found this set-up most room. you! Just make sure you select have rooms that open out into are available at the Paradise refreshing. You can easily do weather-friendly furniture a garden or water feature. Road shop. this at home. such as teakwood chairs or powder-coated metal tables with a quartz or granite top.