ECONOMIC OVERVIEW Property launches

Apartments / Condos / Townhouses Key statistics Latest releases Previous rates Terraced houses Semi-detached houses Quarterly GDP growth 4.7% (1Q2012) 5.2% (4Q2011) Detached houses Annual GDP growth 5.1% (2011) 7.2% (2010) Consumer Price Index (CPI) 2.0% (Jan-Jun, '12) 3.2% (2011) Industrial Production Index (IPI) 112.8 (May-12) 108.4 (2011) Major news Base Lending Rate (BLR) 6.53% (Jun-12) 6.45% (2011) Mersing Laguna to rival Bali Exchange rate: RM to US dollar RM3.198 (29/06) RM3.057 (30/03) Big plans for Batu Berendam air port SP Setia banks on China project Four Season Place KL to open in 2015 Malaysia's economy grew at 4.7% in the first quarter ended March 31, 2012, a L&G unscathed by new ruling slightly slower pace from the 5.2% in the fourth quarter of last year and 5.1% a year Terengganu approves land for new... ago, despite the challenging external environment. Bank Negara Malaysia (BNM) Serene sanctuary in Ipoh said on Wednesday domestic demand remained firm, supported by both private and Protest against new project public sector economic activity, while exports moderated amid weaker external Tambun Indah developing 5 projects... demand. RM1b boost for I-City Sime Darby plans 11th township Malaysian Institute of Economic Research (MIER) indicated that the country's Masterplan to set up RM15b Perak... domestic consumption and government spending will support growth as overseas RM1.4bil shopping mall and office... demand eases. MIER projected the Malaysian economy to expand by 4.2% in 2012 Billion ringgit tower atop LRT station and 4.7% in 2013. TAR showcases Malaysia in a touris... Themed Attractions investing RM26... Bank of America Merrill Lynch and CITI pointed out that revenue collections in the Development sets to offer unobstruc... first quarter for Malaysia showed outperformance in both indirect tax and non-tax. Boustead plans shopping center in... Malaysian's fiscal deficit level to the gross domestic product is likely to remain AP Land bungalows attract good res... unchanged even with the tabling of the RM13.8 billion supplementary budget in Elemental attraction Parliament recently, says two foreign bank analysts. I-Bhd is looking to unveil residences... Ken plans to branch out into hospital... The Industrial Production Index (IPI) has increased by 7.6% in May due to the Buyers snap up units at Singapore's... increases in all sectors, e.g. Manufacturing (6.5%), mining (11.5%) and electricity Tradewinds to buy property worth... (6.6%). According to the Statistics Department, the manufacturing output rose due to Relaxing, career-centered living activities in the major sub-sectors such as petroleum, chemical, rubber and plastic Prasarana earmarks second property... products (10.5%), electrical and electronics products (6.7%) and non-metallic Pride of London mineral products, basic metal and fabricated metal products (3.9%). Resort-inspired developmet in Old K... Simultaneous launch for SP Setia's... Bank Negara Malaysia (BNM) has maintained the Overnight Policy Rate (OPR) MCKIP to turn Kuantan into regiona... unchanged at 3%. The central bank acknowledged the uncertainties in the global Gamuda property projects in Vietna... economy and financial environment and is expected to maintain the OPR rate until Berjaya's Great Mall of China to be... end of the year. BNM also expects the headline inflation to remain moderate for the Tg Tokong project to begin in Dece... rest of 2012. Hua Yang banks on affordability fac... Addressing some real concerns MALAYSIA'S exports jumped sharply in May, supported by strong bilateral trade July date launch for Tune Hotel King... with Singapore, China and India as well as improving external demand for electrical Naim-KPJ JV company to invest... and electronic (E&E) products. Exports rose by 6.7 per cent, higher than market Project will uplift Pekan folk expectations, while imports increased by 16.2 per cent, causing the trade surplus to Redeveloping Old Klang Road narrow to RM4.6 billion from RM7.5 billion in April. The International Trade and Legoland Hotel to be built in Nusaja... Industry Ministry said on a month-on-month basis, exports and imports rose by 1.8 per cent and 7.9 per cent respectively. Others

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Malaysia’s international reserves stood at US$136.1 billion (RM425 billion) as of Mega deals May 15 compared with US$135.9 billion on April 30, Bank Negara Malaysia said. Yung Kong unit selling land for RM... The reserves were enough to finance 9.3 months of retained imports and were 4.1 UEM Land unit to buy JB plot for... times the short-term external debt. Atlan to sell land in JB for RM32m CIMB-TCA buys Canberra office... During the first half of 2012, Northern Corridor Economic Region (NCER) drew Axis REIT buying industrial assets private investments of RM8.51 billion. The investments were from three (3) main Kim Hin to buy office building in... sectors, namely agriculture, manufacturing and tourism. It has been reported that a Tradewinds to buy RM510 million... total of 9,467 jobs and businesses were created in NCER from January to June 2012. UOA selling building for RM93.8 mil IJM to sell land in Rembau to Canal... Since the inception of Sabah Development Corridor (SDC) in 2008, Sabah has E&O buys UK property attracted planned and committed investments of RM112.8 billion. The Sabah Mulpha sells Jalan Sultan Ismail lan... Economic Development and Investment Authority (Sedia) indicated that a number of TA Global paying RM275.6 mil for... major investments, from both domestic and overseas, in sectors including the oil and Eonmetall Agro in land deal with PO... gas industry, oil palm, fishery, livestock and tourism was starting to flow into the Eonmetall Agro to dispose of Penan... state. Emas Kiara subsidiary buys land for... Amcorp Properties sells London flats PENANG is predicting a 6.3 per cent economic growth this year with the Mah Sing buys 172ha in Bandar Bar... manufacturing and services sectors as the major drivers compared with last year's Metrarama buying land for RM15m 5.2%. It plans to balance the manufacturing and tourism sectors, which contributed SOP unit inks land deal with Kion Tai 52% and 39% to the state's gross domestic product in 2010, as a way to reduce the Glomac buying Dengkil land for RM... impact of global economic instability. The state received RM9.1 billion in investments in the manufacturing sector, with 21% foreign investments, surpassing Others its RM6 billion target in 2011.

Credit for the purchase of commercial properties in March grew by 22.7% year-on- Retail's corner year, raising concerns in some quarters of a potential asset bubble. This loan growth MADO to tantalise taste buds with... in the non-residential sector, which includes industrial and commercial properties, Honda opens new center in Setia Alam was the highest followed by credit growth for the construction sector at 19.2%. Berjaya Land courts Parkson Meanwhile, loan growth for purchase of residential properties in March had Ayamas eyes overseas debut by year... somewhat moderated to 13.9% year-on-year. BMW Malaysia opens MINI service... Domino's recipe for double digit gro... China's central bank cut benchmark interest rates by 25 basis points in a surprise AUM One to introduce new F&B ou... move to shore up slackening economic growth, its first rate cut since the depths of Debenhams to open flagship store in... the 2008/09 financial crisis. The new rate of 6.31% is effective from June 8, the UMW Toyota opens body and paint... People's Bank of China (PBOC) said in a brief statement on its website. The PBOC Tomei allocates RM20mil this year... also cut deposit rates by 25 basis points to 3.25%. Setia City Mall opens Mydin's largest mall now in Ipoh Bilateral trade between Malaysia and the European Union (EU) is expected to match Sennheiser to open concept store in... last year's record of about RM130 billion. Ambassador and head of the EU Audio specialist opens flagship store delegation to Malaysia Vincent Picket said bilateral trade between Malaysia and EU AEON on expansion trail was very resilient and he was optimistic it could hit last year's record figure of KFCH set to open up to 17 new outle... RM130 billion for this year due to strong demand for goods and services between BMW launches new 4S center in Set... the EU and Malaysian companies. J Nine raises sales target, plan more... Popular bookstore opens in Paradig... 'One-of-a-kind' gourmet hub opens... Ben's Innovative Groceries

Others

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PROPERTY LAUNCHES

Minimum Minimum selling No Projects Developers Units sizes (sq ft) prices Apartments / Condominiums / Townhouses 1. Nouvo service apartments @ 3 Titijaya Group 342 659-900 RM 293,000 Elements, Bdr Putra Permai

2. SkyPod Residences IOI Properties 640 634 RM 383,000

3. Zeva @ Equine South Kensington Vision 766 455-1,546 RM 298,800 Sdn Bhd

4. The Horizon Residence @ Kuala Glomac Berhad 335 538-4,230 RM 825,888 Lumpur

5. Icon Residenz @ PJ Mah Sing Properties 248 569- 1,795 RM 562,000 Sdn Bhd

6. You One @ USJ1 PJD Landmarks Sdn 457 650-1,425 RM 586,000 Bhd

7. Uptown Residence (Lifestyle See Hoy Chan Sdn 174 734- 1,040 RM 584,800 Tower) @ Uptown Damansara Bhd Group

8. Uptown Residence (Family See Hoy Chan Sdn 206 1,687- 2,516 RM 1,188,800 Tower) @ Uptown Damansara Bhd Group

9. Dwiputra Residence @ Precinct SP Setia Bhd 880 950- 1,200 RM 389,500 15, Putrajaya

10. Hijauan Saujana Esquire Corner Sdn 509 651-1,372 RM 418,040 Bhd 11. Seri Riana Residence IJM Land Bhd 396 1,382- 3,614 RM 709,000

Standard land Minimum selling No Projects Developers Units areas (sq ft) prices Two storey terraced houses 1. Laman Glenmarie @ Seksyen 1, Horsedale 42 1,920 RM 923,888 Shah Alam (2 Storey) Development Bhd

2. Serena @ Bukit Bandaraya, Shah Lebar Daun 140 1,480 RM 559,888 Alam Development S Bhd

3. Lily II @ antara Gapi, Serendah PKNS 128 1,400 RM 285,888

4. Semenyih Parklands @ Beranang Amalan Setar (M) 134 1,300 RM 278,800 Sdn Bhd

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Standard land Minimum selling No Projects Developers Units areas (sq ft) prices 5. Acacia, TTDI Grove, Kajang Prestige 55 1,650 RM 661,230 Improvement S Bhd

6. Emerald Gardens, Kota Emerald, Kota Selatan Indah 161 1,920 RM 846,000 Rawang Sdn Bhd

Three storey terraced houses 1. Mutiara Villa @ Mutiara Nova Paramount 123 1,870 RM 1,008,000 Heights, Kajang Development S Bhd

2. Laman Glenmarie @ Seksyen 1, Horsedale 42 1,920 RM 1,308,888 Shah Alam (3 Storey) Development Bhd

3. Iris @ TTDI Grove, Kajang Prestige 71 1,540 RM 872,340 Improvement S Bhd

4. Reed, Lake Fields, Sungai Besi Syarikat Pembenaan 285 1,920 RM 1,020,000 Yeoh Tiong Lay SB

5. Nautilus @ D Island Residence, BBS Development 115 1,920 RM 1,810,000 Puchong

Two and a half storey terraced houses 1. Aqua 3 @ Reflexion, Bandar LBS Bina Group Bhd 127 NA RM1,398,000 Nusaputra, Puchong

2. Quartz Villa, Signature Series II Narajaya Sdn Bhd 64 1,300 RM 695,800 @ Bandar mahkota Cheras

Two storey semi-detached houses 1. Bayu @ Puchong, Puchong (2 Seldredge Industries 18 3,200 RM 1,097,000 Storey) Sdn Bhd

2. Laman @ Puchong, Puchong Hayat Abadi Sdn Bhd 22 3,200 RM 1,082,800

3. Bdr Parklands, Bkt Tinggi 3 Gabungan Efektif 76 3,280 RM 1,184,400 (Type-Oxalis), Klang Sdn Bhd

4. Harmony Park @ Natura KIP Homes Sdn Bhd 114 2,800 RM 889,860 Heights, Dengkil

5. Ritz Residence @ Bukit Serdang Pesat Bumi Sdn Bhd 60 3,960 RM 1,800,000

Two and a half storey semi-detached houses 1. Bayu @ Puchong, Puchong (2.5 Seldredge Industries 32 3,200 RM 2,466,800 Storey) Sdn Bhd

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Standard land Minimum selling No Projects Developers Units areas (sq ft) prices 2. Kayumanis Garden Villas @ Salient Pyramid Sdn 28 2,850 RM 990,000 Taman Tenaga, Bangi Bhd

Three storey semi-detached houses 1. The Rafflesia@Damansara MKLand Paramoden 50 3,588 RM 2,796,000 Perdana, PJ (Phase 6) Sdn Bhd

Two storey detached houses 1. Harmony Park @ Natura KIP Homes Sdn Bhd 4 5,822 RM 1,435,260 Heights, Dengkil

Two and a half storey detached houses 1. Kayumanis Garden Villas @ Salient Pyramid Sdn 4 5,673 RM 1,600,000 Taman Tenaga, Bangi Bhd

MAJOR NEWS

Mersing Laguna to rival Bali Top

The RM22.2billion Mersing Laguna project will help the country achieve its aim of attracting 36 million tourists by 2020, said Tourism Minister Datuk Seri Dr Ng Yen Yen. She said the mega project would also attract some 1.2 million tourists to Mersing by 2021. Dr Ng said the project would also help develop Mersing and boost the livelihood of the local people. Once completed, Mersing would see a five-star hotel, a large aquarium and a boardwalk along the seafront, she said. Dr Ng said the project would resemble Nusantara in Bali, Indonesia, with hotels, resorts, spas and other forms of entertainment. "Just like Nusantara, the Mersing Laguna will have 22 hotels, a water theme park, a polo field, marinas and plenty of shopping areas for tourists," she said. (The Star-1 April 2012)

Four Seasons Place KL to open in 2015 Top

The Four Seasons Place in Kuala Lumpur will open in 2015, sources say. News of a Four Seasons being developed in the capital by two tycoons and a sultan first surfaced in 2005. In 2007, some work even began on the site, but the project has yet to see the light of day. A source told Business Times that some developments can be anticipated within the next three months with completion expected to be three years thereafter. The Four Seasons Place is being built by Venus Assets Sdn Bhd, a firm controlled by Ipoh-born tycoon Ong Beng Seng, Tan Sri Syed Yusof Syed Nasir and the Sultan of Selangor. The delay was attributed to the failure of a proposed deal between Venus Assets and national oil corporation Petronas to go through and the project going back to the drawing board. (NST-5 April 2012)

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Big plans for Batu Berendam Airport Top

The Malacca Government wants to transform the Batu Berendam Airport into a regional hub for the Asia- Pacific airlines. Chief Minister Datuk Seri Mohd Ali Rustam said the plan to integrate international, domestic and regional services under one roof would attract more airlines. “This vision has the potential to improve traffic flow with the upgrading of the airport into a regional hub with more aircraft gates,” he said here yesterday. (The Star-3 April 2012)

SP Setia banks on China project Top

SP Setia is expecting its China venture to bring its overseas expansion drive to another level. SP Setia president and group managing director Tan Sri Liew Kee Sin said he hoped the company could have a meaningful involvement in the development of the newly-launched China-Malaysia Qinzhou Industrial Park (QIP). SP Setia has teamed up with Rimbunan Hijau Group to form a 45:55 joint venture (JV) called Qinzhou Development (Malaysia) Consortium. Together, SP Setia and Rimbunan will own a 49% stake in a JV company to be formed with China's Qinzhou Jingu to undertake the QIP project. The QIP is the third industrial park in China to be developed under the umbrella of government-to-government collaboration after the China-Singapore Suzhou Industrial Park and Tianjin Eco-City. The QIP was proposed by Chinese Premier Wen Jiabao to Prime Minister Datuk Seri Najib Razak during the Malaysia-China Economic, Trade and Investment Cooperation Forum in Kuala Lumpur a year ago. (NST-3 April 2012)

L&G unscathed by new ruling Top

Land & General Bhd (L&G) has been recording encouraging sales numbers despite Bank Negara's move to implement responsible lending to contain surging household debt. L&G currently has three ongoing projects, two of which are residential projects Elements@Ampang and Damansara Foresta. The other is 8trium, a commercial project. Managing director Low Gay Teck said that for the months of February and March 2012, 100 units of Elements@Ampang had been booked and sold. The project has a total of 1,040 units and is currently selling for RM850 per sq ft. The bookings and sales for February and March 2012 have amounted to about RM60million. Its residential development Damansara Foresta in Sri Damansara has recorded almost a 100% sell rate in both Tower A and Tower B. In Tower D, more than 15% have been sold. Tower D has not been officially launched yet. (The Star-6 April 2012)

Terengganu approves land for new hospital Top

The Terengganu state government has approved the lease of land in Batu Burok to build and operate a new 130- bed specialist hospital in Kuala Terengganu, according to TDM Bhd. “The new eight-storey hospital will replace the current Kuala Terengganu Specialist (KTS) hospital which is operating at or near maximum capacity,” said its chairman, Datuk Roslan Awang Chik, said in a statement. “The hospital, on a 23,424 sq m land, will be the city’s flagship specialist hospital that will serve the approximately 338,000 people of Kuala Terengganu.” TDM CEO Badrul Hisham Mahari said the project would cost RM170.2million, excluding the cost of the land lease and incidental fees. The hospital is expected to be completed in 24 months.

(The Star-6 April 2012)

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Serene sanctuary in Ipoh Top

A condominium project still under construction on the outskirts of Ipoh has been evaluated at about RM530 per square foot for a basic unit and RM630 per square foot for a fully furnished, premium unit. The Haven Lakeside Residences developer Peter Chan revealed that Rahim & Co, an international property investment consultancy, has just given his project in Tambun, the thumbs up. "We have received full evaluation of our selling price from Rahim & Co. “The valuation of The Haven condo units is approximately RM630 psf inclusive of about RM100 psf for renovation costs," said Chan, referring to his premium units that come fully furnished. He added that the latest validation is in addition to an earlier evaluation in February of his selling price of RM508 psf by property agency Azmi & Co. (The Star-6 April 2012)

Protest against new project Top

Residents of Bandar Sunway Semenyih and Desa Mewah staged a protest recently to show their dissatisfaction over the building of a new commercial area near their housing area. There is only one two-lane access road that serves both the residential areas and, with the addition of Kiara Business Centre, residents are afraid of traffic congestion. Bandar Sunway Semenyih residential association vice-president, Ahmad Asmadi Adnan, said that complaints have been made to the authorities individually as well as collectively, but no action has been taken.

(NST-6 April 2012)

Tambun Indah developing five Penang projects valued at RM571m Top

Tambun Indah Land Bhd is undertaking five development projects in Penang with a combined gross development value (GDV) of around RM571.5million this year. The projects are the RM131.3million Pearl Indah and RM180million Pearl Residence 1 in Simpang Ampat; RM39.3million BM Residence in Bukit Mertajam; RM41million Carissa Villas in Bagan Lallang; and RM180million Straits Garden in Jelutong on the island. Group managing director Teh Kiak Seng told StarBizWeek after an EGM that with the exception of the Straits Garden project in Jelutong that would be launched in the third quarter of 2012, the construction for the other four projects had started. "Both Pearl Indah and Pearl Residence 1 are in the RM2billion Pearl City project, where we plan to build some 5,600 landed residential properties and 1,400 commercial properties.”The first two phases of the Pearl City project the Pearl Garden and Pearl Villas are 90% and 80% sold respectively. Some 41% and 28% of the purchasers for Pearl Villas and Pearl Garden respectively are from the island," he said. (The Star-7 April 2012)

RM1b boost for i-City Top

I-BERHAD, an integrated ICT urban centre developer, is adding RM1 billion worth of new products at i-City, increasing the project's gross development value (GDV) to RM4 billion. The company is adding a riverfront development called Clarke Quay@i-City and a 500,000 sq ft data centre complex to the project, said its chief executive officer Datuk Eu Hong Chew. The data centre will be built on a 3.3ha site owned by the company directly opposite the 41ha i-City project off the Federal Highway. Clarke Quay@i-City will be developed on a 1km stretch on the 7km Sungai Rasa, which is being upgraded by the state government under a flood mitigation development programme for Shah Alam. (NST-7 April 2012)

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Sime Darby plans 11th township Top

Sime Darby Property Bhd plans to build the conglomerate's 11th township development north of its existing Denai Alam township in Selangor. Sime Darby Property head of property development Zulkifli Tahmali said the township is at its planning stage but will measure 404.8ha along the Guthrie Corridor Expressway, which also sites the Bukit Jelutong development. "The new township will be a mix of residential, commercial and industrial (development), but we have not finalised the gross development value yet," Zulkifli told reporters here last Thursday.

The landed and strata properties featured include top-selling newly-launched units as well as planned launches. They are located in 10 townships in the Klang Valley and Nilai, Negri Sembilan, where a 2,000-sq-ft residential unit's price starts at RM450,000. The company also plans to launch eight more properties with a gross sales value of RM1.2 billion, involving 1,800 units of residential, commercial and industrial property its by financial year ending June. He said 90% of its Putra Heights products had been sold. Good take-up rates were also recorded in Denai Alam (50%), Nilai Impian (60%) and Bandar Bukit Raja (70%). (NST-9 April 2012)

Masterplan to set up RM15b Perak defence hub Top

Masterplan Consulting Sdn Bhd says it has been appointed by the Defence Ministry to set up up a defence hub worth RM15 billion in Perak. The Malaysian Defence and Security Technology Park (MDSTP) in Sungkai would come under the country's public-private partnership arrangement, it said. The defence hub, the first of its kind in Southeast Asia, is expected to be completed in 12 years over three phases. Once fully developed, it is expected to provide 50,000 new jobs. "It is anticipated that MDSTP will be able to attract potential investment of between RM10 billion and RM15 billion within the next 12 years," Masterplan Consulting said.

(NST-9 April 2012)

RM1.4bil shopping mall and office tower in KL Sentral to be ready by year-end Top

Pelaburan Hartanah Bhd (PHB), a subsidiary of Yayasan Amanah Hartanah Bumiputra, will inject a RM1.4bil shopping mall and office tower project in KL Sentral into its portfolio of assets under the Amanah Hartanah Bumiputra Unit Trust Fund (AHB) next year. PHB managing director and chief executive officer Datuk Kamalul Arifin Othman said the shopping mall or Lot G was currently under construction and expected to be completed by year-end. "We will have to achieve the right rental yield for Lot G, the single largest property owned by PHB in terms of value, before injecting it into AHB.”Once Lot G is included in the portfolio, we could offer more AHB units to be subscribed," he told reporters after jointly announcing AHB's income distribution for the six months ended March 31 with its manager Mayban Investment Management (MIM) Sdn Bhd yesterday. (The Star-10 April 2012)

Billion-ringgit tower atop LRT station Top

In what may be Syarikat Prasarana Negara Bhd's most ambitious project yet to unlock value from its real estate, the national public transport operator is partnering with a developer to build a billion-ringgit tower atop its Dang Wangi light rail transit (LRT) station. The project, won by Crest Builder Holdings Bhd and its 49% joint- venture (JV) partner Detik Utuh Sdn Bhd two weeks ago, is for the construction of a single-block mixed

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development fronting Jalan Ampang with a gross development value (GDV) of RM1.04billion. The yet-to-be- named project, which will be built on 2.72 acres, marks the Petaling Jaya-based developer's maiden foray into high-end properties since announcing the move last year. The plan, for now, is to build a tower cut into four segments: a mall at the bottom, small office flexible office (sofo) units, upscale serviced residences, and on the highest floors, a five-star hotel. (The Star-12 April 2012)

TAR showcases Malaysia in a tourism park Top

Themed Attractions Malaysia, in partnership with Kuala Lumpur City Hall (DBKL), will open a world-class cultural attraction called Malaysia Truly Asia Attractions in the capital in 2014. The Malaysia Truly Asia Attractions, which forms part of the Greater KL initiative, will sit on a 26.59ha site bordered by the Tugu Peringatan, Padang Merbok, Bank Negara Malaysia’s Lanai Kijang residential complex and Istana Selangor. This will be a one-stop centre showcasing what Malaysia is and has, that can be experienced in a few hours. It is an immersive interactive cultural tourism park,” Themed Attractions and Resorts Sdn Bhd (TAR)’s chief executive officer Tunku Ahmad Burhanuddin said. (NST-12 April 2012)

Themed Attractions investing RM267m in Desaru Coast Top

Themed Attractions Malaysia, which is part of Kazanah Nasional’s leisure and tourism division, will invest RM267 million to build and operate two theme parks in Desaru, Johor. The theme parks - Ocean Quest Marine Park and Ocean Splash Water Park - are scheduled to open in mid-2014. "Ocean Quest is a brand new product. We are in partnership with Dolphin Quest (from the US) for this particular project,” Themed Attractions & Resorts Sdn Bhd’s (TAR) chief operating officer Steve Peet said. Ocean Quest, Peet said, would be similar to the Discovery Covein Orlando, Florida. "Ocean Splash, will be an international quality water park and very different from any other existing water parks in Malaysia," he said, adding that the best comparison would be the Typhoon Lagoon in Orlando, Florida, in terms of theme and design. (NST-13 April 2012)

Development set to offer unobstructed views of Bandar Sunway Top

Villamas Sdn Bhd’s latest project - Zefer Hill Residence - will sit atop one of the highest points in Bandar Kinrara, Puchong come April 2015. According to its chief executive officer Gan Teck Seong, the RM230million development is the company’s third project in Puchong after the already completed Atmosfera Condominium and Villamas Apartment. Gan said, unlike previous Villamas projects, Zefer Hill Residence sits on elevated ground, adding that this would give owners an unobstructed view of Bandar Sunway from their balconies.

The development built on a 2.31ha freehold site will have two towers offering some 346 units. Zefer Hill Residence units will come in six different floor plans ranging from 1,356 sq ft to 2,139 sq ft. Since the project was opened for sale in February, the response has been encouraging, with Tower 1 already 60% sold while Tower 2 is 25% sold. “We are targeting newlyweds, those who want to keep as an investment as well as those who want to upgrade to a better home,” said Gan, adding that units are priced from RM546,000 onwards.

(The Star-13 April 2012)

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Boustead plans shopping centre in Kuala Lumpur Top

Boustead Holdings Bhd plans to develop and manage a shopping centre here with Ikano Pte Ltd, the operator of IKEA stores in South East Asia. In a statement today, Boustead said its wholly-owned subsidiary Mutiara Rini Sdn Bhd had entered into an agreement with Ikano form a joint venture company called Circuit Wealth Sdn Bhd. "The proposed joint-venture company will allow Boustead to increase its portfolio of retail investment properties and leverage on its expertise to jointly develop and manage a shopping centre in the Kuala Lumpur city centre location," it said. Mutiara Rini and Ikano will eventually each contribute RM100 million to the issued and paid-up capital of the joint-venture company. (NST-13 April 2012)

AP Land bungalows attract good response Top

AP LAND Development Sdn Bhd is confident of selling all its luxury bungalows situated in Kampung Paya Jaras, Selangor, as soon as possible. Its chairman Datuk Nazrul Arsad said the 16 unit bungalows, called Puncak Residence Sg Buloh, situated on a hill and will be completed within the next 24 months. "The gross development value for this project is RM20 million," he told reporters at the groundbreaking ceremony held at the site yesterday. He said currently only five to six units are still available for sale, while the rest have been already booked. Each unit, he said, was sold between RM1.5 million and RM2 million. "We managed to sell all of the units because people like the concept of these bungalows which has its own swimming pool. Our concept is also unique because its luxury living in a kampung," added Nazrul. (NST-13 April 2012)

Elemental attraction Top

Among the notable developments in the highly desirable Jalan Ampang neighbourhood, is The Elements @ Ampang serviced apartment project. This is a joint-venture development between the Mayland Group and Land & General Bhd. Sited on about one hectare (2.6 acres) of freehold land, the development - scheduled for completion by 2014 - is just behind the Flamingo Hotel with serviced roads linking the major thoroughfares. The two tower blocks will have a total of 1,040 units (520 units each block) with the maximum cost for a unit at RM1.5mil and the minimum cost for a studio unit at RM416,000. All units are finished with marble, timber and tile and fitted with air-conditioners. There are 11 layout options and the cost per square foot is between RM750- RM800 depending on the units. To date, some 70% of the serviced apartments have been sold. There will be about 1,300 parking bays. Units below 1,000 sq ft will have one parking bay while those above 1,000sq ft will be entitled to two bays. (Star Property -15 April 2012)

I-Bhd is looking to unveil residences, SoHos, SoVos worth Rm450mil Top

I-Bhd will be launching some one million sq ft of property worth RM450mil at its flagship development, i-City in Shah Alam, this year, executive chairman Tan Sri Lim Kim Hong said. The company is launching more properties going forward as development at its flagship, i-City advances. Lim said the properties for sale this year included residential units and small offices home offices (SoHos) as well as small offices versatile offices (SoVos). I-Bhd is expecting sales of RM150million this year. "Our plan is to launch about a million sq ft (of gross floor area or GFA) of residential properties every year.”In March, we launched the i-Residence project with about 540,000 sq ft of GFA. In the second half of this year, we will unveil our SoHo and SoVo developments to fulfill our 1 m sq ft target," Lim told StarBiz. (The Star-17 April 2012)

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Ken plans to branch out into hospitality sector with new project Top

Engineering specialist Ken Holdings Bhd will branch out into the hospitality sector with its upcoming Ken TTDI (Taman Tun Dr Ismail) commercial development. The project is due to be completed by 2014, Ken Holdings chairman K.C. Tang said. The company invested RM120 million in the project. It will consist of a combination of corporate suites, grade A office spaces, banking hall, art gallery and various food and beverages (F&B) outlets, among others. The 36 corporate suites will be leased out to get recurring income, he said, adding that the suites are designed to be user-friendly.

Executive director Sam C.S. Tan said there will be other property projects launched this year. These include Ken Rimba Jimbaran, which comprises 168 units of larger double-storey homes, slated to be launched in the third or fourth quarter. Another project will be Ken Rimba Legian, part of Ken Rimba development in Shah Alam, Selangor, scheduled to be completed by the second quarter. These projects will boast of "green" terrace houses. (NST-18 April 2012)

Buyers snap up units at Singapore’s priciest suburban condo Top

It may be Singapore's most expensive suburban condo, but more than 100 units of CapitaLand's Moshe Safdie- designed Sky Habitat in Bishan were snapped up on the first weekend of its launch. Out of the 180 units released for sale, 125 units were sold last Sunday. Eighty-three per cent of the buyers were Singaporeans who intend to live in the units, said chief executive of CapitaLand Residential Singapore Wong Heang Fine. Average prices range from S$1,747 per sq ft (psf) for a one-bedder to S$1,642 psf for a four-bedder. This works out to S$1.11mil for a 635 sq ft one-bedroom unit. Visitors at the showroom told The Straits Times they were attracted to the design and location, despite the pricing and it being a 99-year leasehold project. (The Star-18 April 2012)

Tradewinds to buy property worth RM510m for MTR2 Top

Tradewinds (M) Bhd is buying a commercial property from its sister company for RM510 million, which will be used to develop the proposed Menara Tun Razak 2 (MTR2) project. More than 80% of the funding will come from bank borrowings, while only RM76.5 million will come from internally generated funds. Tradewinds' wholly-owned unit, Sovereign Place Sdn Bhd, signed a sale and purchase agreement with Skyline Atlantic Sdn Bhd, a 100% unit of Tradewinds Corp Bhd (TCB). The proposed Menara Tun Razak 2 project, or MTR2, comprises a new eight-storey car park podium, a single-storey food court and a 31-storey "Grade A" office tower block above the car park podium. The construction of the proposed MTR2 building is part of the redevelopment plan of the existing 36-storey MTR1 building together with a four-storey annex building. The MTR2 is expected to be completed by early 2016. (NST-19 April 2012)

Relaxing, career-centred living Top

The Selangor State Development Corporation (PKNS) continues to strengthen its position as a leading property developer with its latest housing project which combines a relaxing lifestyle and career-based living, at the hub of the information technology (IT) industry. PKNS general manager Othman Omar said the service apartments in Vega Residensi 1, at Selangor Science Park 2 (SSP2) Township in Cyberjaya, is the latest development undertaken by the state government agency. "With a gross development value of RM118 million, Vega Residensi 1’s links to highways such as Maju Expressway and Elite highway connect it to the Kuala Lumpur

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International Airport, Low-Cost Carrier Terminal and the city centre.”Vega Residensi 1 consists of an 18-storey service apartment that can meet the desires of young professionals and newly-married couples who envision living in a trendy lifestyle setting," he said recently. At an affordable price starting from RM253,888 per unit (RM236,116 after discount for Bumiputera), it is the right choice as an investment asset with attractive returns.

(NST-19 April 2012)

Prasarana earmarks second property development project Top

Syarikat Prasarana Negara Bhd’s second property development project will be located on a two-acre site near the monorail station at Jalan Tun Sambanthan in Brickfields. Group managing director Datuk Shahril Mokhtar said although there was an abandoned building on the land in question, Prasarana planned to carry out a mixed development project. "Although the area is not that big, it is worth developing as it is sitting on prime land. The tender will be out next month," he told reporters after a site visit of the light rail transit (LRT) extension project by Land Public Transport Commission chairman Tan Sri Syed Hamid Albar yesterday. Prasarana’s first property development along its rail line was on the site of the Dang Wangi LRT station which has a gross development value of about RM220million. (The Star-20 April 2012)

Pride of London Top

Award-winning developer, St James, a member of the Berkeley Group, is unveiling its latest property offering, with the launch of Emerald Square in Roehampton, South West London. The launch is taking place in Kuala Lumpur today and runs until Sunday at The Westin Kuala Lumpur. This collection of one- and two-bedroom apartments, and four bedroom houses is being launched internationally ahead of its British release, and offers an exclusive opportunity for purchasers and investors to gain a unique foothold in one of the world’s most sought after property markets. Emerald Square is ideally situated for London commuters. Barnes railway station is only a 1.6km away, providing direct trains to Clapham Junction in nine minutes; Waterloo in 20 minutes; The City (Bank) in 33 minutes and Canary Wharf in 43 minutes, and East Putney underground station is close by.

(The Star-20 April 2012)

Resort-inspired development in Old Klang Road Top

UOA Group introduced their latest residential project, Le Yuan residence, at a luncheon for buyers at its new gallery in Jalan Selesaria, Old Klang Road, Kuala Lumpur recently. A crowd could be seen milling about looking through the designs of the rooms as well as the model of the condominium that is under construction now. The project began in November 2011 and was expected to be finished by September 2013.

Le Yuan, which means “Happy Garden” in Mandarin, features two blocks of 27 storey resort-styles living complete with facilities such as gym, indoor children’s playground and a 0.6ha man-made beach. Block B is sold out as it was the first block to be opened to the public. Following the good response, the developer launched Block A and, so far, 40% of the units have been sold. The 670 units are priced at RM499 psf. The development offers eight different designs with built-up areas ranging from 1,164 sq ft to 1,782 sq ft. The development is situated between Sri Petaling and Kuchai Lama, and is easily accessible via major expressways such as the New Pantai Expressway, North-South Expressway and Kesas. (The Star-20 April 2012)

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Simultaneous launch for SP Setia's 18 Woodsville project in S'pore Top

SP Setia Bhd will unveil its maiden project in Singapore called 18 Woodsville via a simultaneous launch in Kuala Lumpur, Singapore and Jakarta this weekend. This is the first time that SP Setia is doing such a simultaneous launch for a development. SP Setia said the simultaneous launch would be done in real time where interested purchasers would know exactly which units had been booked or were still available, regardless of which of the three cities they were in. The freehold 18 Woodsville consists of a 15-storey block with 101 units, and offers one, two and three-bedroom units with sizes ranging from 495 to 915 sq ft. Prices start from S$1,500 (RM3,677) to S$1,950 (RM4,779) per sq ft. The 18 Woodsville project is located near the Potong Pasir mass rapid transit (MRT) station and several colleges and schools, and offers easy accessibility to Orchard Road as well as connectivity via the Central and Pan Island expressways. (The Star-20 April 2012)

MCKIP to turn Kuantan into regional gateway Top

Prime Minister Datuk Seri Najib Razak announced the setting up of an industrial park in Gebeng here, at the opening of the China-Malaysia Qinzhou Industrial Park (QIP) in southwest China early this month. Mooted as the sister project of QIP, the setting up of the 600ha Malaysia-China Kuantan Industrial Park (MCKIP) is an important step to help turn Kuantan into a strategic gateway to the Asean and Asia-Pacific region, which has a population of four billion and a combined gross domestic product of US$17 trillion (RM52 trillion).

(NST-20 April 2012)

Gamuda property projects in Vietnam doing well despite high interest rates Top

Although high interest rates in Vietnam will continue to dampen property sales, Gamuda Bhd is bucking the trend with its Gamuda City development in the south of Hanoi, HwangDBS Vickers Research said. It said Gamuda City and Celadon City in Ho Chi Minh City (HCMC), both held under Gamuda's property arm Gamuda Land Sdn Bhd, were running on "full steam" despite the increased borrowing costs brought on by the country's notoriously high inflation. "Gamuda City's first three launches have been sold out, raking in sales of RM220mil while it has also raised its sales target for the financial years 2012 to 2013 to RM500million and RM750mil, respectively.”Sales at Celadon City are more subdued but we expect the recent land sale to AEON and completion of show units to buoy strong residential sales going forward," the brokerage said in a report after a recent site visit. (The Star-20 April 2012)

Berjaya’s Great Mall of China to be ready by 2017 Top

Berjaya Land Bhd (BLand) is building the world’s biggest integrated mall complex estimated to be worth about RM7.5 billion on a 32ha site in China’s Hebei Province, its chief said. Called Great Mall of China, the 18.5 million sq ft development, which is similar to the concept of Berjaya Times Square in Kuala Lumpur, is expected to be completed within the next five years, said BLand chief executive officer Datuk Francis Ng Sooi Lin. Once completed, the project will feature more than two million sq ft of retail space, two hotels, two serviced apartments, office towers, convention centre, theatre and a parking complex. There will also be an indoor monorail, three theme parks and acquarium. Berjaya Great Mall of China Co Ltd (BGMOC), a 51% subsidiary of BLand, is undertaking the development. (NST-20 April 2012)

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Tg Tokong project to begin in December Top

UDA Holdings Berhad, which is hoping to develop its land in Tanjung Tokong but has been embroiled in a long stand-off with residents who refused to move, will finally be able to get its RM80 million development project going. The company is in the process of drafting agreement letters with regard to home ownership for 1,043 families in Tanjung Tokong. UDA Land (North) Sdn Bhd chief operating officer Kamarudzaman Mohd Zain said at present, 76 per cent of residents have moved to the transit homes. He said the agreement letters would be completed by next week and would be given to the families, so as to ensure the remaining ones can move as soon as possible. (NST-20 April 2012)

Hua Yang banks on affordability factor in latest project Top

Property developer Hua Yang Bhd is confident that the affordability of the products would attract prospective house buyers. Johor branch manager Soo Kim Hiang said the company expected its Taman Pulai Hijauan project to receive good response from the public. "On the average our residential properties in Johor Baru are priced between RM250,000 and RM400,000 and this is our strong selling point," he told StarBiz. Soo said although the township project was located within Iskandar Malaysia, the company’s price was much lower compared with other on-going projects in the economic growth corridor. He said this at the launch of the 225 double-storey Alder Residences terrace houses under the phase one of Taman Pulai Hijauan Township along KM27, Skudai-Pontian Highway. The four-bedroom and three-bathroom house within a gated precinct has a built-up area of area of 170.34 sq m (1,834 sq ft) and is priced from RM250,000. The 56.65ha (140 acres) township comprised of 1,400 double-storey terrace, cluster and semi-detached houses and commercial properties. (The Star-20 April 2012)

Addressing some real concerns Top

HSB Development's latest project looks to cater to the changing lifestyle needs of today's family units. The project called AraGreens Residences is located in the fast growing township of Ara Damansara. AraGreens development is based on three pillars a multi-generational home living concept, health and wellness concept and a green sustainable concept. Adjacent to it will be the commercial portion AraGreen Village. This portion will be located on 1.2 acres and comprises two buildings offering childcare and nursing services for the elderly. These services will be housed together with medical and physiotherapy service providers while the second tower will offer food and beverage outlets, convenience stores and other amenities. There will also be serviced- apartments here.

The residential portion will have six blocks of 15-storey serviced apartments, or a total of about 700 units on 7.25 acres. The company will be selling all the units in the residential portion and leasing out the commercial portion, which will also come with another set of serviced-apartments for recurring income. There will be 2.5 storeys of underground car parks. The built-ups for the standard units are between 700 and 3,000 sq ft while penthouses are between 3,100 sq ft and 3,834 sq ft. There are also ground floor units which come with their own private gardens. Price ranges between RM500,000 and RM2.4million. The project is expected to be launched next month. Construction started last month and is expected to be completed in 2015. The contractor is Putra Perdana Construction Sdn Bhd and the architect is Singapore-based WOW d.lab Pte Ltd, which is part of WOW Design Group. (The Star-21 April 2012)

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July date launch for Tune Hotel Kings Cross Top

Following the successful launch of its £9 (RM44) room sale at Tune Hotel Paddington, the pioneering budget hotel chain will launch its fourth London hotel, Tune Hotel Kings Cross, with the same offer. The Tune Hotel Kings Cross will open on July 9, comprising 217 en-suite bedrooms across twin, double and accessible formats. Tune Hotel Kings Cross is ideally located on Gray’s Inn Road, just 500m from Kings Cross and St Pancras train stations. Formally Swinton House, the building will feature 217 bedrooms including twin, double and accessible rooms, with and without windows. Guests will also be able to enjoy the large reception area where light refreshments will be served. (The Star-21 April 2012)

Naim-KPJ JV company to invest RM70mil in private hospital in Miri Top

Naim Holdings Bhd-KPJ Healthcare Bhd joint-venture (JV) firm will invest in a private hospital project in oil town Miri. The proposed 100-bed full-fledge hospital will be built on 1.62ha in Bandar Baru Permyjaya, Naim’s flagship integrated mixed development project. Naim engineering and construction head Sivakumar Ramasamy said the four-storey hospital was estimated to cost RM70million. The project will be undertaken by a 30:70 JV company between Naim’s wholly-owned subisidary, Naim Land Sdn Bhd (NLSB), and KPJ’s wholly-owned unit, Kumpulan Perubatan (Johor) Sdn Bhd (KPJSB). (The Star-21 April 2012)

'Project will uplift Pekan folk' Top

The launch of Pekan Heritage Waterfront project by Prime Minister Datuk Seri Najib Razak today will mark a new beginning for the royal town of Pahang. The town is set to be turned into one of the leading tourist attractions in the East Coast Economic Region (ECER). Menteri Besar Datuk Seri Adnan Yaakob said the number of tourists to Pekan was expected to increase from the modest 16,000 people annually to 500,000 in 2015 and 700,000 in 2020 (NST-21 April 2012)

Redeveloping Old Klang Road Top

Far East Organization, Singapore's largest private developer, plans to redevelop a commercial site in Old Klang Road, here, into an integrated lifestyle mixed development in three years. Chief operating officer Chia Boon Kuah said the group had commenced a feasibility study on the supply and demand situation and the best product mix for the area. Chia said in an interview with Business Times in Singapore recently that Far East was considering high-rise condominiums targeting the upper-middle income group, and retail components.

The group is also considering a 4-star hotel or serviced residences, and studying if the area has potential for medical suites. On the redevelopment of Plaza Atrium in Lorong P. Ramlee, Chia said work was progressing. Plaza Atrium, a 24-storey commercial block located next to Menara Pan Global, Menara SMI and Wisma Kim Seah, was built in 1984. Far East made an application in 2005 to redevelop Plaza Atrium into a serviced apartment block and to build an adjacent 34-storey residence comprising 109 luxury units. (NST-23 April 2012)

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Legoland Hotel to be built in Nusajaya Top

Merlin Entertainments Groups has signed a management agreement with LL Themed Hotel Sdn Bhd to develop and build the Legoland Hotel in Nusajaya, Johor, the first in Southeast Asia and the fourth in the world. LL Themed is a 51-49 joint venture company between Destination Resorts and Hotels Sdn Bhd (DRH) with Iskandar Harta Holdings Sdn Bhd. DRH Managing Director Nadziruddin Basri said: "We at DRH are focused in bringing new, innovative attractions to Malaysia's leisure and tourism offerings and to make Malaysia a destination of choice for both local and international travellers." The hotel is set to heighten Legoland Malaysia theme park's experience with its fun and interactive designs and facilities, he said in a statement. Meanwhile, Legoland Malaysia General Manager Siegfried Boerst said the hotel was the first to be designed from a child's eye view and was scheduled to open for operations in the first half of 2014. (NST-24 April 2012)

I-Bhd injects touristic value into its i-City project Top

I-Bhd the developer of i-City has unveiled plans of developing an integrated leisure destination at its RM3bil i- City to mirror Clarke Quay in Singapore. According to chief executive officer Datuk Eu Hong Chew, Clarke Quay@i-City would be developed in three phases with the first phase comprising a cosmopolitan food and beverage zone, which will be established independent of the Sungai Rasau upgrading works. Eu said the company would spend RM50mil to set up the waterfront river deck, in tandem with the plans mooted by the state government, in a bid to generate income from tourism for i-City, in addition to its earnings from its commercial and residential projects.

The phase two riverfront development will be tied to the development of the shopping mall and the Sungai Rasau river upgrade while phase three, comprising of river-based rides and attractions, will be the last component of the i-City rides and attraction plan. "For 2012, apart from refreshing the Snowalk theme with a science theme, i-City would be investing RM25million in a kid’s gym as well as a three-acre water park," he said. The company also plans to construct a one million sq ft regional shopping mall, three hotels and an amphitheatre. (The Star-24 April 2012)

New attractions for i-City lined up Top

There are plans to develop a 93,000sq m shopping mall and Clarke Quay@i-City riverfront leisure area by i- Berhad Group. The i-City developers unveiled the “integrated leisure destination” development plans for the tech-concept commercial and recreation area in the presence of Tourism Minister Datuk Seri Dr Ng Yen Yen and members of the press yesterday. i-Berhad chief executive officer Datuk Eu Hong Chew said the development, which would be carried out in stages, was targeted to be completed by 2015 and would include a theme park, amphitheatre and 24-hour lifestyle-concept outlets. He said the RM50million Clark Quay@i-City was the result of an agreement with the state government and the Shah Alam Municipal Council over development rights in the Sungai Rasau area. (The Star-24 April 2012)

KLIA2 on track to start operations next April Top

The new low-cost carrier terminal (LCCT), KLIA2, is on track to be opened by April next year, with 50% of the development completed to date, said Malaysia Airports Holdings Bhd (MAHB) chairman, Tan Sri Aris

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Othman. The purpose of building KLIA2 is to cater to the growth of low-cost carriers (LCCs) since there are other LCCs coming into Kuala Lumpur, he said, adding that the current LCCT was meant to be temporary since it was a cargo area. "So sooner or later airlines cannot operate there because it is already congested. We still exceeded the growth in LCCT by expanding from the original 10 million passengers a year to the current 15 million. "At the moment I think they are handling probably about 18 million passengers per annum. So it is already above capacity," he said. (NST-24 April 2012)

40 hotels set for opening in Johor Top

The former police land in Jalan Tun Sambanthan, Brickfields, is in the process of being privatised for a commercial development, said Federal Territorries Land and Mineral director-general Datuk Azemi Kasim. "It no longer belongs to the Federal Land Commission, hence we are no longer responsible for maintaining it," he said. The land orginally belonged to the Federal Land Commisson and was used by the police for the last 30 years. The police relocated to its new premises in Seri Petaling last year. (NST-25 April 2012)

SP Setia plans rail hub in KL Eco City Top

SP Setia Bhd, one of the country's biggest developers, is investing up to RM30 million to set up an integrated rail transport hub at its RM6 billion KL Eco City mixed development in Kuala Lumpur. The company is building a KTM commuter station, which will be integrated with the existing Abdullah Hukum light rail transit (LRT) station at the project location by 2013. Executive vice president Richard Ong said SP Setia is finalising the design proposals for the KTM station with the rail authorities. SP Setia, via its unit KL Eco City Sdn Bhd (KLEC), is developing KL Eco City on the former Kampung Haji Abdullah Hukum site at the end of Jalan Bangsar. The 10-year development will comprise several residential towers, offices and a 5.7 million sq ft retail podium. (NST-26 April 2012)

CapitaMalls to build US$365mUS$365m Beijing mall Top

Singapore-based shopping centre developer CapitaMalls Asia said yesterday it would spend US$365 million (RM1.12 billion)to develop a mall in southern Beijing, buying the land from a subsidiary of the Poly Real Estate Group. The development will feature a seven-storey, 122,000-square-metre mall, representing a total cost of around 19,190 yuan per square metre (RM9,319) for construction and land, the company stated. The project is due for completion in 2015. (NST-26 April 2012)

A RM1m roof over India Street Top

Sarawak Chief Minister Tan Sri Abdul Taib Mahmud has approved an allocation of RM1 million for the construction of a roof over Indian Street pedestrian mall which was built in 1992. Taib said the roof over the mall would make shopping in one of the most popular shopping malls in the city even more conducive. Twenty years ago, India Street, during its heyday was home to Indian textile merchants and was converted into a pedestrian mall. Soon, the 165-year-old heritage street will be turned into a covered pedestrian mall.

(NST-27 April 2012)

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More than half of Paragon units in Cyberjaya sold Top

OSK Property Holdings Bhd launched phase one of their Pan’gaea (pronounced pan-jee-uh) project by introducing Paragon to the public as well as future residents at Plaza OSK in Ampang. The sight of the brightly lit, glass structure model with its unique futuristic design was enough to bring the people milling about the booth to a stop to admire it. The SoFo (small office flexi office) suites and boutique retail spaces are expected to be completed by 2015 while the whole project is scheduled to be ready in eight years.

OSK public relations and communications assistant manager Emily Cheng Siow Chun explained that once completed, the development would help improve on entertainment facilities and eateries that Cyberjaya (where the development is located) lacked. Paragon comprises two towers of 22- and 16-storeys on a 6.5 ha site. Its SoFo suites are being sold from RM498 to RM594 psf onwards. (The Star-27 April 2012)

2nd phase of 1Malaysia Housing Programme Top

The second phase of the 1Malaysia Housing Programme (Pr1ma), aimed at reducing the financial burden on first-time homeowners, will be launched here tomorrow. State Housing Minister Datuk Amar Abang Johari Openg said the ministry, through the Housing Development Corporation (HDC) and Pr1ma Corporation, was planning to construct quality affordable housing in Demak Laut for young home buyers, with an income of between RM2,500 and RM7,500.

Abang Johari said the state government had already approved the development of 111 units of double-storey terrace houses measuring 1,300 square feet each, which would begin as soon as an agreement is reached between Pr1ma, HDC and a private developer. For houses under Pr1ma, the government will subsidise up to 10 per cent of the market price, bringing the selling price of each house to between RM150,000 and RM300,000," he said, adding that the project was expected to be completed within 18 to 24 months. (NST-27 April 2012)

Glomac launches 39-storey serviced apartment in Mutiara D’sara Top

GLOMAC Bhd recently launched its latest freehold residential development in the heart of Mutiara Damansara — Reflection Residences — at the Glomac sales gallery in Kelana Jaya. The luxurious 39-storey tower will soon be known as the tallest residential building within the bustling commercial hub in Mutiara Damansara. Located on a 1.1 ha site, apartments in Reflection Residences start from RM895,000. With an estimated gross development value of RM270million, the development is expected to be completed in 2016. Comprising 299 units, Reflection Residences will offer four different layouts with built-up areas, ranging from 1,092sq ft to 1,705sq ft.

"The take-up rate for Reflection Residences is about 75% and this overwhelming response has created a positive impact on the sales. We are bullish about the prospects for the project as there is a limited supply of high-rise residences in this location, "said Fara Eliza FD Mansor, Glomac’s group corporate communication and corporate marketing assistant general manager. The project is being developed under Glomac Al Batha Mutiara Sdn Bhd, a joint venture between Glomac Berhad and Al Batha Real Estate Co of the UAE.

(The Star-27 April 2012)

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Khazanah plans S$7b project in Singapore Top

Khazanah Nasional Bhd is launching a prestigious project, estimated to be worth over S$7 billion (RM17.19 billion), at Marina South in Singapore by the end of this year or early 2013. The yet-to-be-named mixed-use integrated project will be developed by M+S Pte Ltd (MSPL), which is 60%-owned by Khazanah, the government’s investment arm, and 40 per cent by Singapore’s investment arm Temasek Holdings (Private) Ltd. The project will feature four prominent residential and office towers, as well as a retail podium, and linked to the Marina and Downtown MRT lines, MSPL chairman Datuk Azman Yahya told Business Times. Azman said that the project, which is designed by Germany-based Ingenhoven Architects, is set to be the gravitational epicentre of Singapore’s new Central Business District. (NST-30 April 2012)

Posco to seal deal with Berjaya Land Top

Berjaya Land Bhd (BLand), a property and gaming company, is close to inking a partnership agreement with South Korean steelmaker Posco Group on the acquisition of up to 20 per cent in the former's US$3 billion (RM9 billion) project in South Korea. BLand is developing Berjaya Jeju Resort through its subsidiary, Berjaya Jeju Resort Ltd (BJR), on a 73.2ha site in Yeraedong in Seogwipo City, southwest of Jeju Island. BJR director Tan u-Jiun told Business Times in an interview that it expects to seal the deal with Posco by August or September this year. This will be the first partnership for Posco in Malaysia and the agreement with BLand is via its unit, Posco Engineering & Construction Co Ltd.

Tan, the younger son of Berjaya group founder Tan Sri Vincent Tan, said the first phase of the project comprising 212 units of luxury villas and market place is slated to be launched by the end of this year or early next year. The integrated project will have 1,403 condominium units, villas and bungalows, 935 hotel rooms, a one million sq ft retail mall that will be the largest in Jeju, a medical facility and a market place which will comprise super luxury shops and single-storey residences. The landmark tower will be a 45-storey hotel, which will be the tallest building on the island. Complementing that is a 505-room casino hotel, which will be South Korea's largest casino complex, Tan said. (NST-30 April 2012)

Asia's first Legoland theme park opening slated for Sept 15 Top

Asia's first Legoland theme park, dedicated to the popular toy bricks, is set to open for business on September 15 this year. "I am pleased to announce that due to the hardwork of all our contractors, we will be opening the park ahead of schedule by a number of months," Legoland Malaysia general manager Siegfried Boerst said. In a statement, he said the park is already 75% complete, with most of the rides and infrastructure in place. Next month, contractors will begin to install the Lego models made out of more than 50 million bricks.

(NST-30 April 2012)

Adopting a winning formula Top

I-Bhd chief executive officer Datuk Eu Hong Chew said i-City will be developed into an integrated leisure destination with waterfront food and beverage and entertainment outlets similar to Singapore's Clarke Quay. "Considering it had enhanced Singapore's tourism industry successfully, we felt that by adopting a similar concept, we will attract more tourists and locals to come here," he said. The development named Clarke

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Quay@i-City will be done in three phases. The initial phase is the establishment of a cosmopolitan F&B zone, phase two will tied to the development of a 1mil sq ft regional shopping mall and the river's upgrade followed by the last phase which is the river based rides and attractions. This year, i-City will be investing RM25million in a kid’s gym and a three acres water park. The company will also be developing three hotels and an amphitheatre as well as changing the theme of the Snowalk to a science theme. (The Star-30 April 2012)

Residents unhappy with new owners of golf course Top

Residents of Serendah Golf Resort are protesting against the development of their golf course by its new owners. Last Friday, more than 100 people gathered at the golf course with placards, posters and a banner to show their dissatisfaction over the matter. Serendah Golf Resort Residents Owners Association chairman Datuk Dr Mahmud Mohd Nor said the 168-acre golf course was sold for about RM23million last year.This is equivalent to RM1.50 per sq ft and the owner has applied to the Hulu Selangor District Council (MDHS) for a 1,168-unit housing project. “We strongly object to the development. We appeal to the state and Selangor Mentri Besar Tan Sri Khalid Ibrahim to hear our views and not convert the 18-hole golf course, as it is one of the finest in Hulu Selangor,” said Dr Mahmud. (The Star-1 May 2012)

Nature park to open next month Top

The 34.6ha Taman Rimba Lembah Pantai in Bukit Kerinchi is expected to be opened to the public by next month. Federal Territories and Urban Wellbeing Minister Datuk Raja Nong Chik Raja Zainal Abidin said works on the nature park was over 80 per cent completed. Raja Nong Chik said the park was the largest nature park in the city and will serve people living in Lembah Pantai well. Their option for recreation all this while had been the Perdana Botanical Gardens which was the closest. The development of the park, carried out in three phases, is said to cost RM20 million. (NST-1 May 2012)

LBS Bina banking on new project launches this year Top

Property developer LBS Bina Group Bhd is banking on new project launches and a large land bank to record better financial results in the fiscal year ending December 31 2012. As at April 29 this year, LBS clocked in property sales of RM357.6 million, and as at end-March, it roped in an unbilled sales of RM693 million. LBS managing director Datuk Lim Hock San said with a strong outlook this year, the group will be launching 14 projects, comprising 2,812 units with a gross development value (GDV) of RM1.69 billion, together with some 22 ongoing projects with a GDV of RM1.81 billion. These include projects in D' Island Residence, Bandar Saujana Putra, Taman Golden Hills in Cameron Highlands and Bandar Putera Indah in Batu Pahat Johor.

The company attributed the improved performance to progressive recognition of revenue and profit contribution from its ongoing projects with good take up rates, such as D' Island Residence and The Lake Residence in Puchong; Topaz III & IV, Ivory Residences I and II, Indigo Homes, Magenta Homes and Lavender II in Bandar Saujana Putra (BSP), as well as other commercial and industrial projects, such as Taman Perindustrian Tasik Perdana in Puchong and Saujana Business Park in BSP. (NST-2 May 2012)

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Daya CMT bags job worth RM270m Top

Daya Materials Bhd’s wholly-owned subsidiary, Daya CMT Sdn Bhd, has won a RM270 million contract from Yuk Tung Corp Sdn Bhd to construct three blocks of 28-storey mixed development, at Jalan Sungai Besi in Kuala Lumpur. It said that the project is expected to be completed by November 2014 and it will be funded through Daya CMT’s internally-generated funds and loans. (NST-3 May 2012)

Menang Corp gets UiTM concession Top

Menang Corp (M) Bhd's 51%-owned subsidiary Rumpun Positif Sdn Bhd (RPSB) has entered into a concession agreement with the Higher Education Ministry and Universiti Teknologi MARA (UiTM) to build a proposed UiTM Campus Satelit C at Puncak Alam, Selangor. Menang Corp said the agreement was entered into on April 30, and the project is on a private finance initiative and build-lease-maintain-transfer basis. The project will take three years and cost RM260million. Upon completion, the campus will be leased to UiTM for 20 years.

(The Star-3 May 2012)

Model development Top

Developer sets out to take home ownership to the next level with terraced houses offering lap pools and environment-friendly features in a ‘green’ township. WHO would have thought that one day, swimming pools would be a common feature of terraced houses aimed at middle-class property buyers? That day will soon be upon us when the developer of the KEN Rimba project in Section 16, Shah Alam, starts handing out keys next month.

Developed by Kenny B.K. Tan of KEN Holdings Bhd, the mixed-development spans a total of 24.3ha (60 acres) and is located just off the Federal Highway, near the Padang Jawa KTM train station. The Legian phase will have 26 units with pools, while there will be 24 houses in the Jimbaran phase with pools. Comprising 496 terraced houses, two condominium phases of 240 units and 679 units, 109 shoplots and another proposed commercial lot, the freehold development is hailed as the first “green” township in the country.

(The Star-4 May 2012)

Three buildings to go soon Top

THREE government-owned buildings, Plaza Warisan, UDA Ocean and Klang Bus Stand in Jalan Sultan, will be demolished to make way for MY Rapid Transit (MRT) station. Mass Rapid Transit Corporation Sdn Bhd (MRT Corp) will cooperate with project delivery partner MMC-Gamuda KVMRT Sdn Bhd to build the underground rail transport which will be integrated with the existing Pasar Seni LRT station. MRT Corp Stakeholder Relations and Land director Haris Fadzilah said the company aimed to transform Kuala Lumpur into a world-class city with an effective transport system to cater for the increasing population in the Klang Valley. (The Star-5 May 2012)

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Developer incorporates various green features into luxury condominium project Top

YOU don’t have to forsake luxury in pursuit of a green lifestyle, developers MKH Bhd and Amona Group of Companies promise through their latest condominium development Saville @ The Park in Bangsar. A joint venture between the two companies, 25% of the development is dedicated to sustainability and the environment. There are also various green features within the homes like insulated roofs, rainwater harvesting and more. “We use materials like laminated low-emission glass panels and there will be natural ventilation in each unit. We have designed the units as such that they benefit from natural lighting. This will help unit owners to conserve energy.” said Amona group of companies’ general manager Che Hasnadi Hassan.

The freehold development is located five minutes from Mid Valley Megamall. The project is made up of two blocks of condominium comprising 27 floors each, offering 408 residential suites, with prices starting at RM500,000. There are also 18 twin villas within the development, with starting prices of RM2.3million. The condo units have built-ups from 1,019 sq ft to 2,528 sq ft and the villas at 3,295 sq ft. The two blocks of condominium will have 27 floors each comprising 408 residential suites and 18 twin villas. The West Tower was launched a month ago and, so far, 65% of the units have been snapped up. The project is expected to be completed by 2015 and has a gross development value of RM300million. (The Star-5 May 2012)

Sentoria plans RM1.5bil projects Top

Sentoria Group Bhd expects to launch projects with a total gross development value (GDV) of RM1.5billion within the next eight years. Public and investor relations head Nasiruddin Nasrun said the projects would be located in Selangor and within the company's Bukit Gambang Resort City (BGRC) development in Kuantan, Pahang. “About RM113.8million will be for property projects in Kuantan and Selangor, while the balance RM1.4billion will be allocated for BGRC-related developments such as additional hotel rooms and suites and retail outlets to add to its vibrancy,” he told StarBiz in an e-mail. Sentoria currently has three ongoing projects within BGRC and three other developments in different locations.

The projects at BGRC are its Arabian Bay Resort (comprising penthouses as well as resort and hotel suites), Global Heritage South (double-storey villas and hotel suites) and Desa Hijauan (single-storey terrace and semi- detached homes). Its other projects are Taman Indera Sempurna 2 (comprising single-storey terrace homes, semi-detached houses and bungalows), Fasa Bunga Raya (double-storey terrace houses) and Taman Bukit Rangin (single-storey terrace and semi-detached homes). (The Star-7 May 2012)

Facelift for Pudu Plaza Top

PUDU Plaza is now back and better, after undergoing an interior and exterior facelift to create a new image for the shopping centre. The renovations have equipped the shopping centre with new facilities as well as enhanced utilities and services for the public and provide shoppers with a better shopping experience. Pudu Plaza’s management and Tegasplex Sdn Bhd, which is part of Akisama Group, budgeted around RM30million for the makeover of the shopping complex podium and redevelopment of the office block into a hotel building. The complex was previously owned by Permodalan Nasional Bhd and Petaling Garden Bhd Group.

(The Star-7 May 2012)

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RM3.67 billion hospital in Kluang to open soon Top

The new RM3.67 billion Kluang Hospital will not only serve the 250,000 people of Kluang but also those in neighbouring districts. Health Minister Datuk Seri Liow Tiong Lai said the hospital, which has the status of "specialist hospital", is the third most advanced in the state after Sultan Ismail Hospital in Johor Baru and Sultanah Fatimah Hospital in Muar. "The building has a modern exterior structure and is patient-friendly, which creates a more comfortable ambience for the community," said Liow during his recent visit to the hospital.

(NST-7 May 2012)

Crest Builder JV to develop MRB’s RM1.4bil project in KL Top

The Malaysian Rubber Board (MRB) has awarded the RM1.4bil development on 2.2ha in Jalan Ampang, Kuala Lumpur to Crest Builder Holdings Bhd and its 49% joint-venture (JV) partner Detik Utuh Sdn Bhd, sources said. For the open tender of this land, request for proposals started last June. Various proposals had been submitted by property players which included those from SP Setia Bhd and Naza TTDI Bhd.

“Many developers were looking to purchase of the land but MRB declined to sell it as it was looking for a longer term business model with recurring income,” said a source. The land, also known as Lot 76 is opposite the Great Eastern Mall and would be developed over seven years. The development cost would be borne by the Crest Builder and Detik Utuh JV. MRB, as the landowner would receive 22.5% of the project's gross development value (GDV) for land rights, which translates into about RM300million. (The Star-7 May 2012)

Encorp’s mall project in Kota Damansara already boosting property values Top

Kota Damansara is set to buzz when developer Encorp Bhd opens its new mall at Encorp Strand next year. Encorp executive chairman Datuk Seri Effendi Norwawi is excited to see Encorp Strand come to life once the development is completed by 2015. "It will be the most happening place in Kota Damansara," Effendi says confidently. Encorp Strand, a 18.45ha integrated development located in Kota Damansara, is the flagship development of Encorp Bhd. Dominating a sizeable part of the Kota Damansara Central Business District, Encorp Strand, which has a gross development value of RM1.3bil, is a self-contained integrated commercial development with five components: the Business Suites, Garden Office, Red Carpet Avenue, Encorp Strand Mall and Residences.

The products launched under Encorp Strand have been well received so far. Its 256 units of Business Suites, which were launched in 2005, have been sold out save for the 29 units retained by the developer. Additionally, 25 of the 29 retail units along the Red Carpet Avenue boulevard have been taken up and about 60% of its Garden Office is sold including two en bloc purchases. Chew added that Encorp is in negotiations for more en bloc sale for its office space. The shopping mall has a net rentable floor area of 251,000 sq ft with rental rates ranging from RM8 per sq ft to RM20 per sq ft. The 35-storey Residences at Encorp Strand will also alter the skyline in Kota Damansara once completed. The units are going for about RM700 per sq ft. Once the office and residential space is sold, Encorp will still be able to enjoy recurring income from the lease of its retail space and parking lots. (The Star-8 May 2012)

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F&N sees revenue from property development in FY16 Top

Fraser & Neave Holdings Bhd (F&N) will start seeing a new revenue stream from property development come its financial year ending Sept 30, 2016, as it will be launching a RM1.6billion mixed development in its ex- dairy premises in Section 13, Petaling Jaya, in June 2013. “Currently this 13-acre land houses F&N's dairies production plant. Site preparation works will begin this September, and will see a mixed development which consists of an F&N tower, a hotel, offices, retail outlets and residential suites by June 2013,” F&N chief executive officer Datuk Ng Jui Sia told a media briefing yesterday. (The Star-9 May 2012)

Heritage hotels in the heart of Penang Top

Two well-known Penang-based companies - Public Packages Holdings Bhd (PPH) and Gan Chai Leng Sdn Bhd - are undertaking the development of three heritage hotel projects with an approximate development cost of around RM75million at George Town’s central banking district, which will further boost the reputation of inner George Town’s World Heritage Site (WHS) status. The plans for the three hotels have been submitted to the local authorities for approval. PPH is undertaking the RM50mil development of the two hotel projects located at Church Street Ghaut, off Beach Street, which is popularly known as the central banking district. The third hotel, a RM25million heritage hotel project by Gan Chai Leng Sdn Bhd, is located at Victoria Street, off Beach Street.

(The Star-9 May 2012)

DPMM to undertake RM5b development in Johor Top

The Malay Chamber of Commerce Malaysia (DPMM) plans to undertake a mixed development project with a gross development value of RM5 billion in Johor Bahru, its President Syed Ali Alattas said. The development of the "Asean Trade Centre" project would be carried out on a 16-hectare piece of land along Pantai Lido which belongs to DPMM. "The project will take three years to complete and construction works will start once all relevant authority approvals are secured," Syed Ali told reporters here today. Among the properties in the mixed development project will be commercial, retail and residential units. (NST-9 May 2012)

Suria plans landmark project in Sabah Top

Suria Capital Holdings Bhd's venture into property and development is now taking shape after securing 9.4ha here for a landmark project. The group, which is involved in ports operations, bunkering services, construction and engineering, aims to have a mixed development there to complement Yayasan Sabah's proposed Sabah International Convention Centre (SICC) nearby.

Suria group chairman Tan Sri Ibrahim Menudin said it now has the land title after paying half of the RM142 million land premiums. He said the project is located next to the Kota Kinabalu port and will involve a gross development value of RM1.8 billion, with construction spanning five to eight years. "The mixed development will include two hotels where we are looking at 800 to 1,000 rooms, plus commercial, retail and residential lots," he added. (NST-9 May 2012)

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Sime, CapitaMalls plan RM500m mall Top

Sime Darby Property, the country’s largest developer by landbank size, plans to develop a RM500 million shopping mall in the Klang Valley, in partnership with CapitaMalls Asia Ltd. The mall, to be located on 242,000-sq-ft freehold land in Taman Melawati here, is expected to be completed in 2016. It will have a net lettable area of around 635,000 sq ft and serve a catchment population of about 800,000 people within a 10- minute drive. Sime Darby Property and CapitaMalls yesterday inked a conditional agreement to form an equal joint venture to undertake the project. Sime Darby Property and CapitaMalls yesterday inked a conditional agreement to form an equal joint venture to undertake the project. (NST-10 May 2012)

Developer to launch first residential component of Icon City Top

Mah Sing Group Bhd will be launching the first phase of the residential component, Icon Residenz, in its flagship development, Icon City Petaling Jaya, on May 12. Icon Residenz comprises two 40-storey towers with 572 units of serviced residences. Each block will have its own facilities including sky pools with jacuzzi, sauna and steam bath, reading lounge, gym, games room and barbeque deck. However, only one block will be launched this weekend with 249 units available for booking.

Chief operating officer Andy Chua said Mah Sing has been receiving an overwhelming number of enquiries about Icon Residenz due to the keen interest in the serviced suites in Icon City. To cater to different consumer demands, Chua said there will be five designs for the residences: the one-bedroom Type A (569 sq ft), two- bedroom Type B (743 to 767 sq ft), three-bedroom Type C (907 sq ft), 3+1-bedroom Type D (1,393 sq ft), and 4+1-bedroom Type E (1,795 sq ft). The units are priced from RM562,000 to RM1.6million and are expected to be completed by 2016. This translates to about RM1,000 per sq ft for the smaller units and RM860 per sq ft for the bigger units. Each unit will be equipped with fully-fitted kitchen and bathroom, air-conditioning, built-in wardrobe, audio video intercom security system and automated waste collection system. (The Star-11 May 2012)

Johor tourist arrivals to increase after Legoland opens Top

The opening of the Legoland Theme Park in September and the Desaru tourism development in three years will bring in more than five million tourists to the state from the current 3.8 million. State Tourism and Domestic Trade Committee chairman Hoo Seong Chang said that with the new attractions, he was confident that Johor would overtake Penang in the tourism industry. "Johor is now on par with Malacca, Sabah and Sarawak in terms of tourist arrivals but is still behind Kuala Lumpur (12 million), Pahang (eight million) and Penang (five million)," he said at a press conference after chairing a tourism committee meeting at Kota Iskandar on Tuesday. (The Star-11 May 2012)

Petronas' RM61b Johor project is Rapid and timely Top

THE US$20 billion (RM61 billion) refinery and petrochemical integrated development (Rapid) project to be undertaken by Petroliam Nasional Bhd (Petronas) in southern Johor will be timely in meeting burgeoning demand for energy and petrochemical products, especially in Asia, in the next 20 years. To be launched by Sultan of Johor Sultan Ibrahim Ibni Almarhum Sultan Iskandar on Sunday, Rapid would also enhance both Malaysia's and the region's petrochemical industry, attracting investments from world-class oil, gas and

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petrochemical companies. It would transform southern Johor into a refining and petrochemical centre, complementing existing complexes in Malaysia's eastern corridors and Singapore. More importantly, the sprawling 2,000ha Rapid complex would trigger economic activities for Pengerang, creating thousands of jobs in view of the massive spin-offs from ancillary and supporting services. start by year-end. (NST-11 May 2012)

SP Setia expands footprint in Penang Top

SP Setia Bhd is on the lookout to acquire more strategic pieces of land in Penang in a bid to extend its footprint in the state. Presently, it is looking to buy three parcels of land on the island by the middle of the year. The company, which currently boasts an undeveloped landbank totalling close to 40 hectares in the state, is in the final stages of negotiation to acquire land in Tanjung Bungah and Jelutong. SP Setia Property (North) general manager Datuk S.Rajoo told Business Times the company is eyeing two parcels of land in Tanjung Bungah totalling 10.2ha while the parcel of land in Jelutong measures 3.6ha. “We are hoping to conclude the land acquisition deals by the middle of June and are planning mixed residential housing projects on the plots,” he said in an interview. (NST-12 May 2012)

Proposal to sell Mid Valley, Gardens malls Top

KrisAssets Holdings Bhd has proposed to sell Mid Valley Megamall, the Gardens Mall and their related assets to its parent IGB Corp Bhd for RM4.6billion. It said in a filing with the stock exchange that the disposal would be satisfied via cash and the issuance of 3.4 billion units in IGB REIT, the retail real estate investment trust that the latter plans to list on the Main Market of Bursa Malaysia. It also proposed an offer for sale of 670 million consideration units by Mid Valley City Gardens Sdn Bhd via the initial public offering (IPO) of IGB REIT. The company added that it wanted to distribute 2.73 billion consideration units, as well as the remaining cash proceeds from the sale of the two properties and the IPO to its entitled shareholders at a date to be determined and announced later. (The Star-12 May 2012)

Tambun Indah seeks JV partners for Klang Valley projects Top

Tambun Indah Land Bhd is looking for joint-venture (JV) partners to spread its wings out of Penang where its flagship project is based. “We would like to expand into the Klang Valley, but our focus will be more on the outskirts like Kajang and Rawang where there is still plenty of land,” managing director Teh Kiak Seng says. For now, Teh and his team are focusing on their flagship project, the Pearl City integrated township in Simpang Ampat, which will have a gross development value (GDV) of more than RM3billion when completed. The mixed residential and commercial township sits on a 1,001-acre site which is expected to be fully developed by 2020, complete with a business park which will house schools, hotels and hypermarkets. So far, 450 acres have already been developed into residential and shop units. (The Star-12 May 2012)

Islamic City set to take shape in Shah Alam Top

Section 5 in Shah Alam is set to be turned into an “Islamic City” after the final plans have been approved by the Shah Alam City Council (MBSA) and Selangor government. The "Islamic City" includes a 20ha area surrounding the iconic Sultan Salahuddin Abdul Aziz Shah mosque and Shah Alam Lake Gardens. Selangor Mentri Besar Tan Sri Abdul Khalid Ibrahim said he was sceptical when the idea was first mooted by Shah Alam

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mayor Datuk Mohd Jaafar Mohd Atan. However, he said the idea made sense and it was now time to turn those dreams into reality. The cost of the project has yet to be determined but it would be between RM2bil and RM3bil as it covered a large area. (The Star-14 May 2012)

DKLS making development foray into Petaling Jaya Top

Low-profile DKLS Industries Bhd is poised to make a bigger presence in the Klang Valley. It recently entered into a heads of agreement with the Selangor State Development Corp (PKNS) to embark on an RM1.5bil urban redevelopment project in Sect 17. DKLS said it was working on a collaborative agreement with PKNS, which would lead to the parties jointly participating in the redevelopment of 15.9 acres there. The plan is to transform the area into a mixed development comprising commercial, retail and residential units. DKLS has also proposed to acquire Tower 8 in Bangsar South for RM93.8million in April, while also snapping up a property in Melbourne that was used as the Barristers Chambers for A$13.3million (RM43.04million) last November.

(The Star-14 May 2012)

540 abandoned low-cost flats to be occupied next year Top

BUYERS of the abandoned Phase 1 low-cost flats in Jalan Kuang Gunung, Taman Kepong, can expect to move in by August next year after waiting for almost seven years. Housing and Local Government Minister Datuk Chor Chee Heung said the landowner would fund the project because the developer had been declared bankrupt. "The ministry will continue monitoring the project until it is completed," he said, during a visit to the project with 540 units. The project began in May 2003 and Phase 1 was scheduled to be completed in 2006 but was abandoned with 81% completed as the developer, Gallant Acres Sdn Bhd, was declared bankrupt on March 5, 2008. (The Star-16 May 2012)

Mitrajaya wins RM112mil job Top

Mitrajaya Holdings Bhd's wholly-owned subsidiary Pembinaan Mitrajaya Sdn Bhd has been awarded an RM111.8million contract for the construction and completion of City Campus Development Phase 1 at Lot 5C4, Precinct 5, Putrajaya. The contract, to be completed in 24 months, was awarded by Putrajaya Holdings Sdn Bhd, Mitrajaya Holdings told Bursa Malaysia. (The Star-16 May 2012)

Flexis@One South launched Top

Hua Yang Bhd has launched its first ever small office, home office (SOHO) development, Flexis@One South, with an estimated gross development value (GDV) of RM200 million. It is the fourth phase of the whole RM920 million One South integrated development. Hua Yang sales & marketing manager Loh Chin Hong said Flexis@One South features various architectural innovations and contemporary design styles that appeal to young and urban buyers, especially first time homeowners. Two types of layouts are available, the typical single level units with built-up of 475 sq ft and 628 sq ft, and the duplex (split level) measuring 1,106 sq ft, 1,194 sq ft and 1,271 sq ft. The SOHO units are priced from RM250,000 which is suitable for individuals who are looking to purchase their first home or setting up a home office. (NST-16 May 2012)

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S P Setia replenishing landbank in Penang Top

S P Setia has proposed to acquire a 8.6ha piece of freehold land on the northeast side of Penang Island. The purchase price is RM185.6 million or about RM200 per sq ft. The pricing of the land is slightly lower than the land cost of two other S P Setia projects in Penang, Brook Residences (RM250 psf) and Setia V Residences (RM237.8 psf). However, Brook Residences is located in the prime residential area of Jesselton Road, while Setia V Residences is a seafront project off Jalan Kelawi, near Gurney Drive.

Compared with a few recent major land deals in Penang, the valuation for the land appears to be reasonable. The land is in close proximity to well-known tourist spots, including Batu Feringghi, Gurney Drive and the Penang forest reserve, which will be a major attraction. S P Setia had planned for a mixed residential development comprising terraced houses and condominiums with total gross development value (GDV) of RM1.1 billion. (The Edge-17 May 2012)

Up and coming in Johor Baru Top

Those who feel a need for plenty of space, whether within their homes or in a generous yard need not go very far out of town as properties such as Gombak Grove in Taman Sri Gombak offer just the thing that they are looking for. Each of the 25 units in this upscale property development comes with a land area of between 5,715 sq ft and 7,136 sq ft. This includes a generous 6.09m-wide garden on the side while the built-up areas of the units start from 5,003 sq ft. These homes are well-suited to those with large families as the units have between six to eight bedrooms each, two of which, including the maid’s room, are located on the ground floor. Developer AQRS general manager Jerry Lau said Each unit is also equipped with a solar water heater with a tank capacity of 270 litres and a ten-year warranty. The selling price of a unit starts from RM2.4million.

(The Star-18 May 2012)

Adding vibrance to Old Klang Road Top

Seri Gembira Avenue or as SG Avenue is the only freehold commercial development that is currently under construction out of the 10 new developments in the area. Strategically located within a short walking distance from six new residential projects, SG Avenue will be a vibrant lifestyle business centre for residents to enjoy the many conveniences offered, as well as relax and unwind at the Street Boulevard. SG Avenue consists of four blocks of five-storey shop-office units totalling 200 retail shops and office suites and eight large commercial lots, with over 700 car parks. The retail shops and office suites range from 1,250 to 2,420 sq ft and are priced from RM397 per sq ft onwards.

SG Avenue will be an alternative business location for business operators and visitors from the nearby shop- office units facing heavy traffic congestion and insufficient car parks. One of the selling points of SG Avenue is the fact that it is a strata title project where purchasers have the choice to buy individual shop or office units without the financial obligation of owning the entire five-storey block. More than 75% of the units have been sold, with a majority of the buyers being SME owners who have bought units for their own business purposes. This eliminates concerns that there will be a large number of unoccupied units upon its completion in early 2014. The developer, Tulin Development Sdn Bhd, has engaged a prominent retail consultant to attract the right tenancy mix for the commercial lots at SG Avenue. (The Star-18 May 2012)

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Jaya33 open to asset sales Top

JAYA33 Sdn Bhd, a niche developer, will consider disposing of some of its office towers at Jaya33 Cybercentre in Petaling Jaya, Selangor, if there are good offers, its chief said. Jaya33 Cybercentre, which is GBI certified and MSC-compliant, comprises five Grade A offices towers. According to the firm's marketing director, L.C. Toh, the current market value for the buildings range between RM600 million and RM700 million. Jaya33 is controlled by the Che family. The main shareholder is Che King Tow, who sits on the board of Malaysia Resources Corp Bhd. Che was previously the developer for the Bukit Rimau Township in Shah Alam but he disposed of his interest to Malton Berhad in 2002. Jaya33 Cybercentre, located on a 2.6 hectare site at the junction of Jalan Kemajuan and Jalan Semangat at Section 13, is being developed in two phases. It is currently the only project by Jaya33. (NST-18 May 2012)

Wisma Mustapha Kamal expected to draw MNCs Top

The Emkay Group's latest Grade A office building, Wisma Mustapha Kamal, with a a gross development value (GDV) of RM150 million, is expected to attract multinational corporations (MNCs) and local companies as tenants. The group expects the building to be the right choice for corporate and MNCs to base their global operations centres. Emkay Group chief operating officer Mazrita Mazlan said the duration of the lease is between five to 10 years. The launch of the building was graced by the Sultan of Selangor, Sultan Sharafuddin Idris Shah. Wisma Mustapha Kamal, which consists of two tower blocks of 11 levels each, with a net floor area of 262,748 sq ft, is located at NeoCyber. Completed in January this year, it currently has a 30% occupancy rate. Meanwhile, Emkay Group chairman Tan Sri Mustapha Kamal Abu Bakar said the third phase of Cyberjaya development has seen RM20 billion investment commitments by 16 major developers, including the group itself. He said of the RM20 billion, RM3.8 billion will be contributed by Emkay Group, mainly for residential, office and commercial deve-lopment for the next five years (2012-2016). (NST-18 May 2012)

KHSB in pact to develop 2,013ha site Top

Kumpulan Hartanah Selangor Bhd (KHSB) and Sun Lohas Group Ltd yesterday signed a memorandum of understanding (MoU) on the proposed eco-development on a 2,013ha site in Bestari Jaya, Kuala Selangor. The MoU is to enable Sun Lohas to carry out a financial and legal due diligence as well as feasibility study on the proposed development known as “Sun Lohas City”. The gross development value of the project is estimated at RM8 billion, while the development is expected to be completed within 10 years’ time. (NST-18 May 2012)

Impiana KLCC to hit room rate projection a year early Top

Impiana KLCC Hotel will meet its 2013 room rate projection a year earlier than scheduled, following better than anticipated demand for its new rooms. The hotel, which will launch its RM100 million new wing today, has added 187 club rooms and suites to its existing room inventory of 335. Located a stone's throw from the Petronas Twin Towers, the hotel has projected to finish 2012 at an average room rate (ARR) of over RM300. Its general manager, Gerard Sta Maria, said that the hotel had initially expected to cross the ARR of RM300 only in 2013 after gradually increasing it from RM260 in 2011. Impiana KLCC expects that it will be able to fill its rooms each time there is major event at the convention centre. (NST-21 May 2012)

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A building for ICT businesses Top

A new landmark in Section 13, Petaling Jaya, Jaya33 Cybercentre, is set to become the first commercial property in Petaling Jaya specially designed to support the growing information and communications technology (ICT) requirement of corporate Malaysia. With the launch of its two new tower blocks — Tower 4 and 5, Jaya33 Cybercentre has in place a sophisticated ecosystem to support the day-to-day business operations of today’s ICT-enabled corporations. Jaya33 Sdn Bhd general manager Tan Kok Leong said that developers of commercial buildings today could not just sell or lease office space based on location alone but consider the requirements of businesses that are now predominantly powered by ICT.

Jaya33 Cybercentre is designed to provide the space, power, cooling and physical security for the server, storage and networking equipment of these corporations, at minimum cost and complexity. It offers the largest commercial floor space in town at 19,000 sq ft per floor, compared to the conventional 8,000 to 10,000 sq ft per floor. Both Towers 4 and 5, each comprising 22 floors, are targeted to be completed for occupancy this December. However, only Tower 5 is currently open for leasing with a minimum leasing space requirement of 19,000 sq ft. Rental rates start from RM4.50 per sq ft. (The Star-21 May 2012)

Development in Tanah Rata offers comfort and convenience Top

LBS Bina Group Berhad (LBS) has launched the latest development from their property portfolio - Suriana shops and apartments in Taman Royal Lily, Cameron Highlands. Boasting a central location in one of Malaysia’s best known hilltop retreats, the final phase of a limited 55 units of 5-storey shop apartments with lifts are now available. The Suriana 5-storey shop apartments consist of 44 units of apartments with built-up areas of between 904 and 930 sq ft and are priced from RM406,900. Three bedrooms and two baths form a cosy layout so that families can enjoy a home-away-from-home retreat. Eleven units with built-up areas of 392 sq ft are priced from RM293,900. (The Star-21 May 2012)

New ICT mall for Kuala Lumpur Top

The National ICT Association of Malaysia (Pikom) will be launching its first ever Pikom ICT Mall at CapSquare Kuala Lumpur on May 27. Bandar Raya Developments Berhad (BRBD) group retail operations head John Sironic said, "This is the only ICT mall which has a theatre."“We also have our own parking lot which can hold up to 2,000 cars." The CapSquare mall was opened in November 2007. However, due to its lack of success, BRBD joined forces with Pikom to create what is now known as the Pikom ICT Mall CapSquare, which has been renovated since October last year. The mall has 102 kiosks taken up by a variety of companies. Among them are Canon, iStudy by Apple, Lenovo’s concept and flagship store and telcos Digi and Maxis. The i-Xperience, the first-ever concept store for Imation, TDK and Memorex Worldwide is also located in the mall. . (The Star-21 May 2012)

SP Setia has big plans in Penang Top

After recently acquiring 21.3 acres in Tanjung Bungah for RM185.6million, SP Setia Bhd is now looking at an adjacent 14-acre site. SP Setia Property (North) divisional general manager Datuk S. Rajoo said the group was now in an advanced stage of negotiation to buy the property. "We expect to ink the deal soon. The two properties are an integral part of the group's business plan to launch about RM2.5billion worth of properties on

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the island this year and in 2013," Rajoo said. SP Setia's business plans for Penang include the launch of residential and commercial properties worth over RM638million in the second half of 2012.

In 2013, besides the RM1.1billion project in Tanjung Bungah, SP Setia will also launch a RM175million condominium project in Sungai Nibong, and the Wave and Breeze condominium projects for Setia Pearl Island, with a gross development value (GDV) of RM350million and RM300million respectively. "In the second half 2012, the key projects include the RM250million Setia Triangle, the RM335million Setia Greens 2, and a RM53million condominium project in Teluk Kumbar," he said. The Setia Triangle project on 6.8 acres in Setia Pearl Island comprises two-, three-, and four-storey shop offices with built-up areas of 3,000 sq ft, 4,500 sq ft, and 6,000 sq ft respectively.

Each unit will be priced between RM1.95million and RM3.6million. "There will also be a residential component comprising a 225-unit condominium, priced between RM575,000 and RM1.2million," Rajoo said. The Wave consists of 535 condominium units priced from RM300,000 to RM750,000, while the Breeze comprises 450 units with a price tag of RM500,000 onwards. "The scheme in the Teluk Kumbar development comprises 98 condominium units with built-up areas of 1,000 sq ft and 1,4000 sq ft, priced between RM500,000 and RM700,000. (The Star-24 May 2012)

Convention centre to be part of Shah Alam business hub Top

To complement the Alam Avenue business hub in Section 16 Shah Alam, its developer IRDK Land Sdn Bhd has added a convention centre to Alam Avenue 1 and 2. The AA Convention Centre will feature a banquet hall as well as a convention hall. There will also be some retail outlets within the centre. IRDK group managing director Datuk Seri M.P. Ramasamy said the idea for the convention centre was conceived not too long ago as it was seen to complement the business centre very well."The convention centre will be managed by us, and it will be great for those in the area who want to hold weddings or big events as the hall can take some 1,300 people," said Ramasamy, adding that the convention centre would be managed by IRDK Land. He added that the entire township would be up and running by June 2013. (The Star-25 May 2012)

WCT plans two more malls Top

WCT Bhd plans to add two more shopping malls to its portfolio to create a steady stream of income to the group. WCT's maiden retail project, AEON Bukit Tinggi Shopping Centre, was opened in Klang in 2007 and is currently leased to retailer Aeon Co Bhd while its second, the Paradigm Mall, was launched yesterday. Executive director Choe Kai Keong said WCT's third mall, at KL International Airport 2 (KLIA2) integrated complex, was targeted to be opened by April next year. "We will be managing the 350,000-sq-ft shopping mall ourselves. Meanwhile, the fourth mall will be part of a 60-acre mixed development in Overseas Union Garden with an expected total gross development value of RM4billion. (The Star-25 May 2012)

Permaju board to meet on Sepangar project Top

Permaju Industries Bhd is expected to hold a board meeting today on a proposal to sell and develop some 4ha of land in Sabah for as much as RM250 million, people familiar with the matter said yesterday. It is understood that under the plan, Permaju will have to help build a hypermarket in Sepangar, which is about 15 minutes away from Kota Kinabalu in Sabah. Business Times understands that the core tenant for the hypermarket is Mydin

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Mohamed Holdings Bhd, the country's largest retail outlet operator. Mydin is the country's most established retail organisation with more than 72 outlets nationwide comprising wholesale markets and hypermarkets. "Mydin will be one of the indirect buyers of the said land," said a person familiar with the matter, adding that in total, there will be some 800,000 sq m of retail space available. (NST-25 May 2012)

Shorter waiting time for construction permits Top

Pemudah, the Government’s special task force to facilitate business, Federal Territories and Urban Wellbeing Ministry and Kuala Lumpur City Hall (DBKL) will introduce a new procedure for the approval of construction permits on June 1 that will significantly reduce the waiting time involved. The new procedure, known as “OSC 1Submission”, would significantly reduce the approval process to 10 steps and to a maximum of 100 days by simplifying and eliminating unnecessary requirements, Pemudah said in a statement. It said that according to World Bank Doing Business Report, the current procedure involved 22 steps and a waiting time of 260 days. The fast-track approval procedure for small-scale non-residential project would cover the submission of planning permission plans, buildings plans, engineering plans, fire safety plans and utility plans, it added.

(The Star-26 May 2012)

Jaya33 Cybercentre towers ready soon Top

The developer of Jaya 33 will be offering for lease two new office towers in a couple of months. Towers 4 and 5, built at a cost of about RM200million, will be connected to the existing Jaya33 block with a bridge for cars and pedestrians. Its marketing director L.C. Toh said the two blocks, known as Jaya33 Cybercentre, had just received its Multimedia Super Corridor (MSC) status and boasted of several unique features. The nearest MSC- status office premise is First Avenue in Bandar Utama, Petaling Jaya. Toh said the new blocks offered the largest commercial floor space at 19,000 sq ft per floor compared to the conventional 8,000-10,000 sq ft. This will cater to the increasingly popular open office plan concept. The floor interior is laid out to house more people and to improve space efficiency from the conventional 100 sq ft per person to 75 sq ft per person.

(The Star-28 May 2012)

Kha Seng eyes Kenanga repeat Top

KHA Seng Group will be seeking to replicate the success of its investments in Kenanga Wholesale City (KWC) and Viva Home shopping Mall but the immediate focus is to complete Vivatel, a four-star boutique hotel. The group is building Vivatel, which sits on Viva Home, for more than RM100 million, said its founder Bernard Bong. Construction on the 305-room hotel commenced in November 2011 and it was slated to be completed by November, he said.

KWC, the first-of-its-kind retail development in Malaysia, is developed by Kha Seng's subsidiary, Kenanga Wholesale City Sdn Bhd. The 22-storey building located in Jalan Kenanga, near Pudu Prison, offers everything under the fashion umbrella. The gross development value for KWC exceeded RM1 billion, he added. Viva Home, formerly called Plaza Uncang Emas 3 (Plaza UE3) and located in Jalan Loke Yew, Cheras, offers home- furnishing and home-related products, as well as leisure and entertainment. Kha Seng had invested RM280 million to transform Viva Home into a one-stop centre for home shopping, said Bong. (NST-28 May 2012)

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CIQ complex mooted for Butterworth Top

Penang will be transformed into an international logistics hub with the development of a Customs, Immigration and Quarantine (CIQ) complex on a 1,214ha land in the Butterworth coastal area. Penang Port Sdn Bhd (PPSB) chairman Datuk Seri Dr Hilmi Yahaya said the tax-free zone project, of which the cost had yet to be estimated, would be potentially built on reclaimed land. He said more than 100,000 new job opportunities would be created with commercial complexes, hotels, petroleum tank farm as well as dockyard services being developed under the project. "Foreigners especially those from Thailand, Indonesia, India and the Middle East could stay at the hotels and have their activities at the CIQ designated areas, without paying taxes," Dr Hilmi said.

(The Star-29 May 2012)

40,000 more jobs Top

Prime Minister Datuk Seri Najib Razak yesterday announced 21 new projects worth more than RM20 billion. The projects, under seven National Key Economic Areas (NKEAs), are expected to create 40,000 jobs and boost gross national income (GNI) by RM4.59 billion by 2020. Leading the list of project owners is Guocoland (Malaysia) Bhd with an investment of RM12.5 billion to develop the Sepang International City, followed by Infineon Technologies (Kulim) Sdn Bhd’s RM4 billion investments in the Kulim Hi-Tech Park. The 21 projects announced yesterday fall under the agriculture, business services, education, healthcare, wholesale and retail, electrical and electronics, and greater KL/Klang Valley NKEAs. (NST-29 May 2012)

Petronas to manage Prince Court on its own Top

PETROLIAM Nasional Bhd, the national oil and Gas Company, has decided to manage the Prince Court Medical Centre (PCMC) here on its own and will make its interim chief permanent. The hospital, which was initially criticised for being built at a princely price, was previously managed by Austria's Vamed Healthcare Services Sdn Bhd in partnership with The Medical University of Vienna. Vamed's services were terminated effective December 1 2011, ahead of a contract that was believed to be until March 2014. Petronas owns the hospital via its unit Petronas Hartabina Sdn Bhd. (NST-29 May 2012)

Sara-Timur in joint venture to build RM600mil project Top

Kuala Lumpur-based Sara-Timur Sdn Bhd will be developing the RM600million Kota Baru Sentral@Tunjung on 40 acres in a joint venture with Tunjung Development Corp and Perbadanan Mentri Besar Kelantan. Sara- Timur chairman Prof Emeritus Datuk M Zawawi Ismail said the project, which would be launched after Hari Raya in August, would incorporate elements of a modern lifestyle urban intelligent city. The project includes a village shopping mall, convention and function mall, leisure center, cineplex, boutique hotels, service apartments, office suites, a library and housing residences located in Bandar Baru Tunjung.

(The Star-30 May 2012)

Gromutual’s project to gain from new JB transport hub Top

Gromutual Bhd expects its first high-rise project to benefit immensely from the upcoming integrated transportation hub in Iskandar Malaysia. Executive director Teo Yu Hong said the project's site along Jalan

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Kempas Lama just a few metres away from Kempas Baru would be its strong selling point. Kempas Baru station in Johor Baru would be developed into an integrated transportation hub in Iskandar Malaysia. To be known as Kempas Sentral, it is expected to be several times bigger than KL Sentral station. Kempas Sentral will have an integrated transportation system encompassing commuter trains interconnected with the rail network at KTM Kempas Baru station, feeder bus and taxi services. Teo said the company would launch the project either in early or mid-2013 with an indicative selling price between RM400 and RM450 per sq ft. He said phase one on a 1.41ha site would comprise 21-storey and 26-storey tower blocks with 460 units of two and three-room apartments. The units will have built-up areas of between 800 sq ft and 1,500 sq ft. (The Star-30 May 2012)

IJM Land unveils RM11b township development Top

IJM Land Bhd has unveiled its newest development the RM11billion Bandar Rimbayu township development which focuses on sustainable lifestyles and strong connectivity elements. Bandar Rimbayu is a mixed-township spread over 1,879 acres close to Kota Kemuning. "The Bandar Rimbayu Township reflects IJM Land's vision of what townships of the future would look like. The green township concept is in response to the demand from residents of the future who are becoming increasingly concerned about giving back to the earth. Also, homeowners of the future do not just want a house, they want a residence complete with a holistic lifestyle, thus we are offering a carefully planned and designed township that emphasises better quality of life," said IJM Land managing director and chief executive officer Datuk Soam Heng Choon.

Divided into four precincts, Bandar Rimbayu consists of Flora, a mixed residential area, Fauna, a mixed residential area with amenities including shops and a school, Bayu, a 280-acre high-end waterfront residential development by the lakeside; and the commercial hub, which include a canal, town square and service apartments. Bandar Rimbayu is targeted for completion within 15 years and will boast about 10,000 residential units. The launch of its maiden product The Chimes, consisting of 526 units of link homes, is targeted for the second half of this year. (The Star-30 May 2012)

RM48bil gross development value for SIC project Top

GuocoLand (M) Bhd, the property arm of Hong Leong Group, will be developing the Sepang International City (SIC) with a gross development value of RM48billion. GuocoLand said in a statement that the proposed project would span about 1,620ha in the southern corridor of Selangor and would be developed over 18 phases. Full completion of the project is expected to take 15 to 20 years. "The seafront development will include commercial, business, residential and leisure developments, a hub for institutions of higher learning and a large world-class urban park that will be modelled after the Central Park in New York City,” it said. GuocoLand managing director Yeow Wai Siaw said the SIC would serve as the catalyst for the growth and future development of Sepang and its surrounding areas. (The Star-31 May 2012)

Quarry land status in Ampang changes to mixed development Top

Residents living around the Cemex Malaysia-owned Golden Plus quarry in Ampang can now breathe a sigh of relief as the 40-year-old quarry is no longer in operation. It was announced at yesterday’s Ampang Jaya Municipal Council (MPAJ) fullboard meeting that the company had successfully applied for a change in the land use to residential and mixed development. "The state has already given the green light so we are merely

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carrying out the decision.”The approval for the change was made in September last year," said council president Datuk Mohammad Yacob, adding that the council had received many complaints about the quarry in the past.

(The Star-31 May 2012)

Mah scouting for additional land with potential GDV of RM1.4bil Top

Mah Sing Group Bhd is aiming to acquire additional land with a potential gross development value (GDV) of RM1.4billion this year. "We have acquired land with GDV of RM3.63billion so far this year, which is about 73% of our target of RM5billion. We have seven months to go, and we definitely have to lock in more land to fuel our long-term growth," said group managing director and chief executive officer Tan Sri Leong Hoy Kum on the sidelines of the Invest Malaysia 2012 conference. This year, Mah Sing has acquired land for projects consisting of M Residence 2 in Rawang, Sutera Avenue in Kota Kinabalu, and Southville City which is a planned 412-acre township in Bandar Baru Bangi. Leong pointed out that Mah Sing currently has 39 residential, commercial and industrial projects across Greater Kuala Lumpur, Johor, Penang and Sabah, with remaining GDV and unbilled sales of RM18.2billion (The Star-31 May 2012)

Glomac near deal to sell complex en bloc Top

Glomac Bhd may ink an en bloc deal soon with an investor looking to buy its integrated commercial complex in Kelana Jaya, which has a gross development value (GDV) of close to RM300 million. The complex, which comprises a high-rise office tower, an office suite and a mall, will be developed on a 1.45ha land, previously used by Kelana Seafood Centre. According to group managing director and chief executive officer, Datuk FD Iskandar, Glomac is currently in talks with two potential buyers. Glomac is buying more land in Greater Kuala Lumpur, despite global economic uncertainties and volatilities in the market. The company is expected to close a deal soon to buy 84ha in Puchong for RM77 million. It is also buying 84ha in Sungai Buloh for RM45 million, to expand its ongoing Bandar Saujana Utama township there. (NST-31 May 2012)

Budget hotel for unutilised Mara arcade Top

MARA will turn the top floor of the double-storey arcade at Kukup Laut in Pontian, into a budget hotel. The top floor has been vacated since the past 10 years. Mara deputy director-general (Entrepreneurship) Mohd Rosdi Ismail said the top floor of the building was meant for food sellers but they had declined to operate there due to poor business. "This is because the elderly and the disabled are finding it difficult to go upstairs.”Rather than leave it vacant and lose revenue, we will utilise the space to open a budget hotel."This venture is quite feasible as the arcade is near the Kukup ferry terminal for tourists from Indonesia and Singapore," he said.

(NST-31 May 2012)

Pelaburan Hartanah vets proposals to develop site Top

PELABURAN Hartanah Bhd (PHB), which owns the 8.09ha land on Jalan Bangsar, Kuala Lumpur, where the Unilever headquarters and factory once sat, is scrutinising the few proposals it has received to develop the area, said people familiar with the matter. PHB had pre-qualified more than five property developers last year, to submit their proposed masterplan for the land development. Among the developers are SP Setia Bhd and Mah Sing Group Bhd. It is understood the developers have submitted their proposals to PHB early this year and they

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are being reviewed currently. Sources said the developers are proposing to build office towers, serviced residences, hotels and a retail mall, similar to Setia Eco City and Mid Valley Megamall in Kuala Lumpur, and Icon City in Petaling Jaya, Selangor. They said the project will have a gross development value exceeding RM4.5 billion. (NST-1 June 2012)

Way cleared to complete Plaza Pantai, now called BangsarTrade Centre Top

Malaysia Building Society Bhd (MBSB) yesterday signed a debt settlement agreement for RM120 million with Twin Pavilion Development Sdn Bhd to revive and complete the Pantai Plaza project in Bangsar here. MBSB chairman Tan Sri Abdul Halim Ali said the agreement will settle the debts of Atlas Corp Sdn Bhd, the project's previous developer. Twin Pavilion Development has taken over the project, now called Bangsar Trade Centre (BTC). Twin Pavilion Development chief executive officer Lee Seng Khoon said construction will begin in August and will be completed in three stages beginning August next year until December 2014, with the completion of the BTC wholesale mall, followed by the business suits and corporate office tower. Twin Pavilion Development chairman Tan Sri Ramli Ngah Talib said BTC will cover 1.4 million sq ft of purpose- built business space, with a RM850 million gross development value and is expected to welcome about 10,000 people daily. (NST-1 June 2012)

65pc of i-Residence sold, before its launch Top

I-Bhd's serviced residence project known as i-Residence, has sold almost 65% of the units available even before it was launched yesterday. I-Residence is the third component in the i-City development. I-Bhd chief executive Datuk Eu Hong Chew said the company has managed to entice the hip and happening crowd of young families and singles to invest in i-City as their first property. "Most of our buyers are first time buyers, newlyweds aged below 35 years old," he said after the launch of the i-Residence project. Eu said the new residential area would take at least two and a half years to complete with a gross domestic value of RM225 million. I-Residence, a 33- storey condominium comprises of 346 units in two tower blocks and 20 units of low density exclusive duplex villas. The duplex villas are ideal for large families with a built-up area ranging from 2,400 sq ft to 3,700 sq ft and offers 3+1 or 4+1 bedroom with private lift and a 50m Olympic sized long swimming pool at the doorstep.

(NST-1 June 2012)

I-Bhd sees residential segment contributing 30% to revenue Top

I-Bhd, the master developer of i-City, expects the residential segment of the information, communication and technology (ICT) based integrated township development to contribute 30% to its revenue. “We are saying that the residential component is going to be about 30% of the whole of i-City. We hope that each segment will contribute fully to I-Bhd's bottomline. In the long-term basis, we hope that they will contribute one-third each,” I-Bhd CEO Datuk Eu Hong Chew said. He said the gross development value (GDV) of i-City's first residential block amounts to RM225million. This is 7.5% of i-City's total GDV of RM3billion. i-Residence consists of a 33-storey condominium, which has 346 units in two tower blocks, and 20 units of low density exclusive duplex villas. Already 65% of the total units have been sold. The size of the condominium units range from 715 sq ft to 1,357 sq ft while the 20 villas range from 2,400 sq ft to 3,700 sq ft. (The Star-1 June 2012)

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Properties in gated and guarded communities increasingly popular Top

Hua Yang Bhd has two such projects in the state - one in Bercham, Ipoh and one in Bandar Universiti in Seri Iskandar (Busi), about a 25-minute drive from Ipoh via the Ipoh-Lumut Highway. Hua Yang Perak branch manager Tony Ng said there have been many enquiries and requests for landed properties in gated and guarded communities. “Both projects are set for launch next year,” he said in an interview in Ipoh on Wednesday. Ng said there would be 156 houses within the gated and guarded project located off the Bercham main road; comprising 134 units of clustered semi-detached houses, 18 link bungalows and four bungalows. These freehold units are expected to be priced between RM500,000 and RM1.2million, Ng said, adding that the project is located in a mature neighbourhood. (The Star-2 June 2012)

Cyberjaya developer to pump RM2.5bil Top

The master developer for Cyberjaya, Setia Haruman Sdn Bhd, is set to pump a whopping RM2.5billion over the next five years to develop four projects and construct additional infrastructure for the area. Called Cyberjaya's “new wave”, chairman Tan Sri Mustapha Kamal Abu Bakar said that the projects were namely CBD Perdana 3 & 5, APEX Residence and a proposed mixed residential development. About RM2.1billion will be used to develop the projects, while RM400million has been allocated for the construction of infrastructure such as roads and drains, water reservoir drainage systems, sewage treatment plants and fibre optic. Setia Haruman is 75% owned by Emkay Group, with the balance held by UEM Land Bhd. It is entrusted with designing, planning and developing about 2,830ha in Cyberjaya. (The Star-2 June 2012)

Mutiara Burau Bay Resort to stop ops? Top

New owners said to be planning four- and five-star resorts on existing site and adjoining plot of land. The three- star Mutiara Burau Bay Resort (MBBR) in Langkawi is said to be closing down, as part of efforts by its new owners to build a new resort in its place. Business Times has learnt that the 150-room resort, which commands a stunning beachfront, is expected to cease operations by the end of this year. This is following a reported sale by its old owners the Langkawi Development Authority (LADA) to Langkawi Tradewinds Corp Bhd (TCB), a company controlled by businessman Tan Sri Syed Mokhtar Al-Bukhary. It is also learnt that two resorts - one four-star and another five-star - will be constructed on the land where MBBR is sited, along with an adjoining plot of land. (NST-4 June 2012)

Pantai Plaza rebranded as Bangsar Trade Centre to house wholesale mall Top

Plans to revive the mostly vacant Pantai Plaza are expected to commence in August and to be completed in stages. Located along the Federal Highway, the plaza, renamed as Bangsar Trade Centre (BTC) will have a wholesale centre for food and beverage and hospitality industry. Malaysia Building Society Bhd (MBSB) signed a RM120million debt settlement agreement with Twin Pavilion Development Sdn Bhd to revive Pantai Plaza. The agreement will also settle the debts of the plaza’s previous owner, Atlas Corporation Sdn Bhd. Twin Pavilion Development chairman Tan Sri Ramli Ngah Talib said plans for the plaza included a corporate office tower, convention and exhibition centre, strata office suites and a hotel. (The Star-5 June 2012)

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A sight to behold: Each unit comes with a view of the city or the pool Top

Located in Bandar Puchong Jaya, the 2.1ha SkyPod Residences has created a buzz in the property market. This mixed development is spearheaded by IOI Properties and expected to be completed by December 2015. Many units of SkyPod Residences were snapped up within hours after its recent soft launch. Part of the project consists two blocks with 640 units of freehold service apartments with a floor space between 634 sq ft and 1,248 sq ft. Each unit is priced from RM383,800 to RM 799,800. SkyPod is located close to a station of the upcoming Ampang LRT Line as well as the IOI shuttle bus service. (The Star-5 June 2012)

SP Setia joins Sime Darby in Battersea bid Top

Sime Darby Bhd said it joined Malaysian developer SP Setia Bhd’s bid for London’s Battersea Power Station, Europe’s largest brick building. “The consortium is positive that its plan for a mixed sustainable development will be well received,” Kuala Lumpur- based Sime Darby said in an e-mailed statement today. The derelict 38- acre (15-hectare) site on the south bank of the River Thames was put on sale in February after its owners failed to pay lenders owed more than 500 million pounds ($770 million).

At least 10 offers were made to buy the site, including one from Russian billionaire Roman Abramovich’s Chelsea Football Club Ltd., a person familiar with the matter said last month. SP Setia is one of three remaining bidders for the landmark power station, Chief Executive Officer Liew Kee Sin said May 29. The defunct station, featured on the cover of the 1977 Pink Floyd album “Animals,” is about 2.2 miles (3.5 kilometers) from the Houses of Parliament and has been vacant for almost three decades. (NST-5 June 2012)

Magna unit in RM100mil land deal Top

Magna Prima Bhd unit Magna Ecocity Sdn Bhd has proposed to buy 20 acres from PCM Bina Sdn Bhd, located in Section 15, Shah Alam, for RM100million via cash and share issuance. Magna Prima signed a conditional sale and purchase agreement with PCM Bina Sdn Bhd yesterday and stated that the RM100mil payment would be satisfied by RM70million cash and the balance in the form of 1.11 million issuance of new ordinary shares representing a 30% interest in the enlarged share capital in Magna Ecocity or at approximately RM26.92 per Magna Ecocity share.

The said land was located at the north-west intersection of Federal Highway, Expressway Lingkaran Tengah (ELITE) Highway and Guthrie Corridor Expressway, it said in a statement to Bursa Malaysia. Magna Prima is proposing to develop the land into a mixed residential and commercial project, comprising 180 units of 3-storey shop offices and 1,620 residential apartments. (The Star-6 June 2012)

UDA may sell BB Plaza Top

UDA Holdings Bhd said yesterday it may ask for RM474 million from MRT Corp Bhd for its Bukit Bintang Plaza (BB Plaza) were it to let go of the property for the construction of an underground MY Rapid Transit (MRT) station. Chairman Datuk Nur Jazlan Mohamed said the prime property could cost around RM374 million, with a further RM100 million required to compensate BB Plaza retailers who had to leave before their lease expired.

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Nur Jazlan said construction of the underground station would also affect Bumiputera businesses as at least 60% of the 150-odd retailers at BB plaza, which is owned by UDA and built in the 1970s, are Bumiputeras. MRT Corp plans to take over the land fronting BB Plaza and the adjacent Yayasan Selangor building next month to start work on the underground station, which is one of 13 stations for the 51km Sungai Buloh-Kajang MRT line.

(NST-7 June 2012)

480 Bukit Beruntung shoplot buyers want abandoned project revived Top

A group of shoplot buyers who have been left in the lurch after the project in Bukit Beruntung was abandoned 15 years ago staged a protest at the Selangor Mentri Besar’s office in Shah Alam yesterday. The buyers of Super Taipan shoplot and apartment project by developer Perwira Indera Sakti Sdn Bhd, a subsidiary of Talam Corporation, are seeking urgent intervention of Mentri Besar Tan Sri Khalid Ibrahim to revive the project. The developer filed for bankruptcy in 2007. K.A. Tan, a representative of the buyers, said 480 out of the original 1,200 affected by the abandoned project were still in limbo while the rest were offered a “swap deal”. Under the swap deal, Tan said buyers were given properties of equal value by the developer in different locations. Tan said the lots were bought at about RM400,000 each and the buyers have been paying between RM1,500 and RM3,000 monthly to the banks since 1997. (The Star-8 June 2012)

High take-up rate at Dorsett Place Waterfront soft launch Top

The Mayland Group says that its latest project, the Dorsett Place Waterfront, saw a high take-up rate of 60% during its soft launch. The project, comprising 1,989 suites, is strategically tucked between two major landmarks in the mature township of Subang Jaya, the Sime Darby Medical Centre and the five-star Grand Dorsett Hotel Subang. The location is within a few minutes travelling time to public amenities such as shopping malls, colleges and a KTM station and forthcoming MRT. "About 1,200 suites were sold during the soft launch. Most of the buyers are residents in Subang Jaya, which clearly shows that the local community is supportive and receptive to the project. In fact, we have been receiving praise and very positive feedback that the project is very acceptable and has come at the right time in the right place," says Mayland executive director Pel Loh.

(The Star-9 June 2012)

Apartment built like a hotel Top

IF a serviced apartment is like a marriage between a hotel and an apartment, Low Yat Group's latest luxury project may elevate the romance between the two to another level. Named after a neighbourhood in Lower Manhattan of New York City, Tribeca is designed with elements of a neighbourhood within a building that is also equipped for hotel-style living. Executive director Low Su-Ming says Tribeca will target mainly investors as well as those seeking the true essence of city-living. The development will have 297 units built on a 0.756- acre freehold land. Situated in on Jalan Imbi, it is close to the Bukit Bintang and Imbi monorail stations. It will also be accessible via the proposed My Rapid Transit stations in the Bukit Bintang and Pasar Rakyat. For the studio and suites in Tribeca ranging from 510 sq ft to 1,020 sq ft build-ups, Low Yat expects to price them between RM950,000 and RM1.5million. The development has limited loft units with a build-up of 1,300 sq ft, priced in the range of RM2.4mil to RM3mil. The 36-storey development is targeted to launch in the last quarter of this year and construction would be completed three years from then. (The Star-9 June 2012)

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Elements model for Pudu project? Top

UDA Holdings may redevelop Pudu Jail into an integrated transport hub, a la Elements of Hong Kong, to attract domestic and foreign direct investments. The plan could generate more than RM8 billion in gross development value, said UDA chairman Datuk Nur Jazlan Mohamed. Nur Jazlan said the company had hired consultants to study proposals from the Ministry of Finance (MOF) and Everbright International Construction Engineering Corp (EICEC), a China government-linked company. (NST-12 June 2012)

UEM Land plans Johor resort Top

UEM Land Holdings Bhd has bought nearly RM500 million worth of land to develop a high-end residential resort in Desaru, Johor. It expects to rake in RM5.4 billion gross development value from the project, UEM Land said in a filing to Bursa Malaysia. The company yesterday announced that it had bought 25 parcels of land measuring 271.48 hectares for RM485.3 million. The proposed development entails residential components, comprising bungalows, semi-detached houses, link houses, townhouses and service apartments/condominiums as well as a beach club. The development will be surrounded by two 27-hole and 18-hole golf courses. The project, in collaboration with Desaru Development Holdings One Sdn Bhd, a subsidiary of Desaru Development Corp Sdn Bhd (DDC) is expected to start by 2013 with completion of the final phase within 20 years.

(NST-12 June 2012)

i-City to earn more from properties Top

I-Bhd, the developer of i-City, expects to see its property development segment accounting for 50% of its net profit in two to three years. "The bulk of it will still be from property development. As for the leisure, we see a contribution of 30% to our net profits in two to three years' time, while the balance will be from the property investment segment,” group chief executive officer Datuk Eu Hong Chew said. i-City will be investing another RM25million to build a children's gym and a water theme park. The 10,000 sq ft gym will be opened in August 2012 while the 4-acre water theme park will be opened in November. Upcoming developments in i-City include the one million-sq-ft shopping mall known as CityMall. The mall will be built on a 14-acre lot and will comprise a five-storey podium block and four towers for a hotel and three serviced residences. The gross development cost, which is the total cost incurred from initiation to implementation is between RM600mil and RM700million (The Star-13 June 2012)

UEM Land’s planned development will help boost tourism industry in Desaru Top

DESARU, a tourist destination that never quite took off, seems to finally be on the right track with growing interests from investors keen to tap the area's tourism prospects. The latest interest comes from UEM Land Holdings Bhd, which announced on Monday that it would develop 678.7 acres of land there on a 51:49 joint- venture basis with Desaru Development Corp, a unit under Khazanah Nasional Bhd, the Government's investment arm. The proposed development, which is estimated to have a RM5.4billion gross development value, will be completed in 20 years. “Desaru is expected to be earmarked as the leisure and tourism region for Johor, offering an integrated resort lifestyle experience with world-class leisure and tourism accommodations, entertainment and attractions,” UEM Land said in a statement. “Such development of Desaru as an international tourist destination will be spearheaded by Khazanah,” the company added. (The Star-13 June 2012)

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I-Berhad to launch first KL project next year Top

I-BERHAD plans to launch Grand i-Residence next year, its maiden property project in Kuala Lumpur that will generate RM500 million gross development value, its chief says. Grand i-Residence is a luxury condominium project, located on 0.43ha along Jalan Changkat Kia Peng, nearby Traders Hotel. It was originally slated for launch at the end of 2008 and called The Peak@KLCC, but was postponed due to unforeseen circumstances. Now that the company is bullish on the real estate market, it will proceed to develop it in a joint venture with land owner, Sumurwang Sdn Bhd. Sumurwang is the majority shareholder of I-Berhad, controlled and founded by Tan Sri Lim Kim Hong. Lim, via Sumurwang, bought the land at KLCC in 1993 for RM280 per sq ft. Grand i-Residence will comprise about 450 Soho (single office/home office) units. (NST-13 June 2012)

Fajar Baru submits plans for condo projects Top

Fajar Baru Builder Group Bhd is believed to have submitted plans to the local authorities in Selangor and Kuala Lumpur in a move to venture into the property development sector, people familiar with the matter said yesterday. It is understood that the construction company had submitted the plans over the past three months to build residential condominium units in Puchong and Jalan Ipoh. Fajar Baru, which has about some RM1 billion worth of ongoing construction jobs at hand, bought the land in Puchong for about RM39.94 million late last year. It also bought 0.92ha land in the Jalan Ipoh-Sentul area last year for RM23.6 million. The land is said to be a gold mine as it is one of the nearest entry point to the city. Business Times was told that the high-rise project in Jalan Ipoh will have a gross development value of about RM280 million. (NST-13 June 2012)

RM7bil project in Kertih Top

Terengganu is set to house Asia's largest bio-refinery complex at the Kertih Biopolymer Park. The project is expected to attract about RM7billion investments. Mentri Besar Datuk Seri Ahmad Said announced that the project was a strategic collaboration between the state government, Malaysian Biotechnology Corp (BiotechCorp) and the East Coast Economic Region Development Council (ECERDC). “The complex is slated to be fully operational by 2014. It will utilise renewable energy from biomass as opposed to natural gas.

(The Star-14 June 2012)

Plans for a high-end enclave Top

Setia Haruman Sdn Bhd recently embarked on a new wave of property development and invested RM2.5billion in four major projects over the next five years. Complete with business lots, Small Office/Home Office units (SoHo), and residential buildings, the projects are CBD Perdana 3 and 5, Apex Residence and a proposed mixed residential development that will be built in the heart of Cyberjaya. Setia Haruman sales and marketing assistant general manager Liew Yeon Keong told Metrobiz that there is high demand for SoHo units especially from small businesses in their starting phase.

"One of the projects, CBD Perdana 3 - Centrus, which started piling work on a 1.5 million sq ft site, will be launched later this month," he said. It is a fully integrated mixed commercial development with a three-storey shopping mall, three blocks of SoHo units with podium car parks, signature retail, corporate offices, supermarket and a food court that will be built in three phases," he said.

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The company has invested RM800million solely in CBD Perdana 3 that consists of more than 1,600 units with the average selling price of RM650 per sq ft. It is estimated that the area will potentially yield a gross development value (GDV) of RM1billion. “The 40-storey Apex Residence to be built beside Gardenview will have the tallest condo tower in Cyberjaya. We are also going to build 16 units of luxurious three-and-a-half storey bungalow equipped with individual lift that would cost around RM3.5mil," he said. “For the mixed development, we are filling in the gap by providing middle-range properties like terraces and town houses that cost less than RM800,000 and condos with quality features for less than RM600,000 per unit," he said.

(The Star-15 June 2012)

Saujana Business Park unit owners handed keys eight months ahead of schedule Top

LBS Bina Group Bhd (LBS), under its subsidiary Seribu Baiduri Sdn Bhd, handed over the keys to unit buyers of Saujana Business Park eight months ahead of schedule. The commercial development comprising two- and three-storey shop offices is set to be the most prominent trade square within the self-sufficient township of Bandar Saujana Putra (BSP). LBS handed over keys to buyers of the 78 units comprising two rows of two- and three-storey shop offices. Saujana Business Park consists of 78 units of shop offices with built-up areas from 3,266sq ft to 9,201sq ft. The units, launched at RM184 per sq ft, are today valued at RM275 per sq ft and are expected to continue appreciating. Saujana Business Park has an estimated GDV of RM62million.

(The Star-15 June 2012)

Gerbang Nusajaya, with RM18bil GDV, to be launched by end-year Top

UEM Land Holdings Bhd will launch the 4,500acre Gerbang Nusajaya by the end 2012, which will have a gross development value of RM18billion. The project would be developed over 25 years. UEM Land managing director Datuk Wan Abdullah Wan Ibrahim said the company would form joint ventures as well as look for strategic investors to develop the land. Gerbang Nusajaya will not just generate income, but also create employment.

We will have activity malls, campus offices, trade centres and residential development, among others.” He also said some RM4.5billion of development projects would come onstream this year and that UEM Land had a target to complete RM3billion worth of sales. Last year, it completed RM2.2billion worth of sales. Over the next few weeks, UEM Land will be launching its CS-2 apartments in Nusajaya, which Abdullah said would be priced attractively. (The Star-15 June 2012)

RM7bil project in Kertih Top

UEM Land Holdings Bhd, Malaysia's largest property developer by market capitalisation, aims to start works on Gerbang Nusajaya, its new project in Johor worth RM18 billion, by the end of the year. The 1,875ha development is located next to Nusajaya, one of five key nodes of Johor's Iskandar Malaysia economic growth corridor. Its managing director and chief executive officer Datuk Wan Abdullah Wan Ibrahim said the layout plan for Gerbang Nusajaya had been submitted. The project will take 25 years to develop. Gerbang Nusajaya will have residential precincts, a golf course, campus offices, activity-based retail and an industrial park.

(NST-15 June 2012)

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Maxwell: Henan land purchase went through proper bidding process Top

Maxwell International Holdings Bhd has said that its decision to do without any independent valuation of the piece of land it recently bought in Henan province should not be a cause for concern as the acquisition was done through a proper bidding process. The China-based and Malaysia-listed sports shoe manufacturer, said that the bidding process was carried out by the government of the Qixian County (which is part of the Henan province).

“The land was bought at a cheaper rate compared to if it were acquired from a private organisation,” executive director and chief executive officer Xie Zhen' an said at a media briefing at the sidelines of the companys' AGM. To recap, Maxwell International purchased a piece of industrial land measuring 171,576.37 square meters with 50 years of “granted use rights” at a price of RM17.2million, which works out to a price of around RM100 per square meter. It paid for the land in cash. (The Star-16 June 2012)

Mulpha Land targets record sales this year Top

Boutique developer Mulpha Land Bhd is targeting record sales of RM60 million to RM70 million in the current year, led by its Bangsar Enclave project in Kuala Lumpur. Bangsar Enclave comprises seven units of three- storey bungalows in a gated and guarded community. The project, with a green architecture concept and located at Jalan Medang Tanduk in Bangsar, will be completed in four months. Mulpha Land executive director, Ghazie Yeoh Abdullah said each unit will be selling at RM12 million and above. The projects, including Bangsar Enclave, have a combined gross development value of about RM800 million, Ghazie said. (NST-16 June 2012)

Chong Wei ventures into property business Top

World number one badminton player Datuk Lee Chong Wei has made his maiden venture into the property business with a condominium project in Ampang with a gross development value of RM160 million. Called A Residency D' Suria Condominium, the 18-storey project, located in Ampang Hilir here, will be launched by September. The project is expected to be completed by 2014. Lee, via his set-up Chong Wei Binajaya Sdn Bhd, has teamed up with Perak-based property player SSF Corp to implement the project. The condominium units are priced between RM500,000 and over RM1 million, depending on built-up area. "We have already sold 40 per cent of the 252 units available due to its strategic location and are confident it will get a good response," SSF group executive director Major Datuk Wayne Chew told reporters yesterday. (NST-16 June 2012)

UDA set to begin Tg Tokong job Top

UDA Holdings Bhd’s redevelopment project at Tanjung Tokong in Penang is expected to generate RM1.8 billion in gross development value. Chairman Datuk Nur Jazlan Mohamed said the redevelopment project would begin once the Penang government granted it a start-work order. The residential and commercial mixed development project, to be developed on a 9ha land, is expected to take four years to complete. He said the commercial development would include a supermarket, a community hall and a recreational area while the residential development will comprise apartment units for 1,200 families. Nur Jazlan said the apartment project would be developed at a cost of RM165 million, with each unit to be between 800 sq ft and 850 sq ft in size.

(NST-18 June 2012)

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Johor's new draws will make tourists spend more, stay longer Top

The opening of several attractions in Johor is expected to improve tourists spend by a fourth and an average stay by at least two days.The opening of several attractions in Johor is expected to improve tourists spend by a fourth and an average stay by at least two days. All this could change when at least 11 new attractions are scheduled to open in the state. Six of these are being developed by companies under Khazanah Nasional Bhd. Themed Attractions and Resorts (TAR) Malaysia for example, will open Hello Kitty Town, Little Big Club and Lat themed attraction in Puteri Harbour later this year. In 2014, it will open Ocean Quest and Ocean Splash water parks in Desaru. Meanwhile, Legoland, which is slated to open on September 15 this year, expects to bring in one million visitors in the first year. (NST-18 June 2012)

Nadayu Prop aims 100pc sales growth Top

Nadayu Properties Bhd is targeting to achieve almost 100% sales growth to RM400 million this year, backed by upcoming several housing projects launch. "As of to date, the company has about RM280 million unbilled sales, which will take us for the rest of the year," said Chairman Hamidon Abdullah. For the first phase of Nadayu Melawati, it will be handed over to buyers in the second quarter of the 2012 financial year 2012 and has received favourable feedback from prospective buyers, he said. "Our phase 1 of Nadayu 92 Kajang will also be completed according to schedule and will be handed over in the second quarter of this year," he told reporters after the company's annual general meeting today. Hamidon said the company also received overwhelming response with about 50% sales for its Nadayu 28 project to be launched in early August. (NST-18 June 2012)

More affordable homes in pipeline Top

A total of 1,032 units of Johor Affordable Homes (RMMJ) and Johor Community Housing (PKJ), costing between RM80,000 and RM220,000, will be built in Mutiara Skudai here. Johor Menteri Besar, Datuk Abdul Ghani Othman, said the two housing projects will be developed by next year by Mutiara Rini Sdn Bhd, which is part of the Boustead Group's property division. Ghani said the project will be advantageous to eligible armed forces personnel, as 50% from RMMJ and 20% from PKJ will be allocated to them. For the scheme, a total of 724 units of linked RMMJ homes, measuring 111 square metres, will be sold at RM220,000 per unit. The PKJ homes, each measuring 79 square metres, will be sold at RM80,000 per unit. (NST-18 June 2012)

Asas Dunia to launch properties worth RM300mil in Seberang Prai Top

Asas Dunia Bhd is launching 1,356 units of landed properties worth approximately RM300million in gross development value in Seberang Prai from now until the end of 2013, due to the growing interest to invest in properties in Seberang Prai. The properties comprise largely single- and double-storey properties, priced between RM200,000 to RM600,000. (The Star-19 June 2012)

Pulai Desaru banking on resort makeover Top

Fifteen-year-old Pulai Desaru Beach Resort & Spa expects a sterling performance this year onwards as the surrounding developments and the resort makeover help fill up rooms and garner a higher room rate. The resort is close to the US$20 billion (RM63.2 billion) refinery and petrochemical integrated development (Rapid)

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project undertaken by Petroliam Nasional Bhd in Penggerang, Johor, which is about 45km from Pulai Desaru. Then there is the planned Desaru Coast project by Khazanah Nasional Bhd, which will house high-end hotels, golf courses and theme parks. Coupled with its RM10 million upgrade to improve its rating to a four-star property from three-star previously, Pulai Desaru expects to woo more guests and improve room rates.

(NST-19 June 2012)

'Private villas part of strategy to capture luxury mart' Top

The Pulai Desaru Beach Resort & Spa in Johor plans to build several units of private villas to capture the luxury market. The resort sits on a 10.5ha site, of which only a fifth has been utilised. The villas, which are aimed at capturing luxury holidaymakers, are expected to be ready in about two years. The move will be strategic as the Pulai Desaru is located directly next to Khazanah Nasional Bhd's Desaru Coast development. Khazanah, through Destination Resorts and Themed Attractions & Resorts, is building a 1,780ha integrated luxury destination with the first phase targeted for completion in 2014. Meanwhile, not far away, Themed Attractions is building two themes parks, namely Ocean Quest and Ocean Splash. Once completed, these projects are expected to make Desaru vibrant and attract more visitors. With that, Pulai Desaru wants to capitalise on the anticipated increase in tourists arrivals there. (NST-19 June 2012)

Mulpha Land: Boutique projects on drawing board Top

Mulpha Land Bhd, which has four on-going projects with gross development value (GDV) of RM800 million, plans to add more developments in the short term. Executive director Ghazie Yeoh Abdullah said Mulpha Land will be busy for the next five years, launching boutique developments and expanding into new horizons. Mulpha Land's existing projects are Bangsar Enclave in Bangsar and Raintree Residence in Ampang, Kuala Lumpur, Bukit Punchor in Penang, and Desa Aman in Kulim, Kedah. Ghazie said Mulpha Land is gearing to introduce its next exclusive project, six luxury bungalows in Bukit Tunku, Kuala Lumpur, targeting high networth locals and Arabs. (NST-19 June 2012)

Asas Dunia to focus on light industry Top

Property developer Asas Dunia Bhd is looking to tap into the demand for light industrial parks on mainland Penang by building one in Nibong Tebal next year. Its managing director Datuk Jerry Chan Fook Sing said yesterday Asas Dunia had earmarked 40ha of land in Jawi to build detached and semi-detached light industry factory units. Seeing that there has been a take-up rate of 80 per cent in the past year-and-a-half for its light industrial buildings in Permatang Tinggi, Chan is confident that there will be sizeable demand for such buildings in the near future. (NST-19 June 2012)

Ivory plans to unveil RM1.6bil worth of residential, commercial units in Penang Top

Ivory Properties Group Bhd (IPGB) plans to launch RM1.6billion worth of properties on Penang Island in the second half of 2012. IPGB executive director and chief operating officer Murly Manokharan said these projects comprised the first phase of Bayan Mutiara, which has a gross development volume (GDV) of RM800million, the third and fourth phases of the residential towers for Penang Times Square (RM300million GDV), a RM130

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million sea-fronting condominium block in Batu Ferringhi, and the RM400million City Mall and City Residence in Tanjung Tokong. He said the first phase of Bayan Mutiara involved the development of some 1,500 high-rise units with built-up areas of between 500 sq ft and 600 sq ft each. For the condominium block, Murly said the group would position it as a medium to high-end scheme in line with the current demand. The group plans to build 700 condominium units with sizes ranging from 400 to 1,200 sq ft for its Penang Times Square residential towers. It will develop 80% residential units and 20% commercial lots under the City Mall and City Residence project. "We are looking at selling each unit of the City Mall and City Residence at between RM700,000 and RM750,000," he said.

Meanwhile, IPGB chairman and group chief executive officer Datuk Low Eng Hock said the group expected a significant contribution in profit and cash flow from the acquisition of associate company Ivory Villas Sdn Bhd. On the recently launch The Latitude, Low said the response was overwhelming and it had sold out all non- bumiputra units of Tower A of the freehold residential development in Tanjung Tokong. The Latitude has a gross development value of RM163.7million. "The take-up rate for The Latitude is now 70%. The two towers are poised to be the most affordable luxury condominium in Penang," he said. (The Star-20 June 2012)

GM Klang to become largest wholesale hub Top

Property developer TSI Group Malaysia recently held a signing ceremony to develop the second phase of GM Klang Wholesale City, which is set to become the largest wholesale hub in Southeast Asia. GM Klang is expected to have over 200 new tenants including trade partners from China. Among them are SM International Wholesale (China) Centre, Pearl Harbour Industry and Alex Li Shang Xin. "GM Klang is set to be the first most comprehensive wholesale and trade hub, projecting a turnover of over RM1 billion," said TSI group managing director Datuk Lim Seng Kok. He said the project consists of five phases. The first phase of the project commenced in 2009 with more than 300 wholesalers supplying an array of merchandise from apparel to IT products. The phase one project's turnover has increased from RM24 million per annum in 2009 to RM138 million per annum, last year, he said. Lim said phase two, known as GM Klang Block A, will start its operations in October once the construction works have been completed. He added that the second phase is made up of 750 wholesale shops, offering products such as apparel, cosmetics, textiles, bags, timepieces, footwear, spectacles, toys, gifts and electrical products. (NST-20 June 2012)

'Shoe City' taking shape in Ipoh Top

A new tourism icon is in the making here with the construction of the country's first Shoe City on a 10.5ha site in Pengkalan Industrial Estate. Perak Footwear Industry Association committee member Soon Mun Kheen said a big shoe replica would be built in the city as a landmark, as suggested by Perak Menteri Besar Datuk Seri Zambry Abd Kadir. The project, first mooted last year, will house various footwear manufacturers under one roof and will ultimately become a one-stop centre for foreign buyers to view their products, attract investors and overseas tourists. (NST-22 June 2012)

You One for quality lifestyle in the city Top

After a successful preview launch of its You One Tower B which saw 80% of its units sold, PJ Development recently introduced You One Tower A to the public. Tower A is scheduled to be completed in 2015.

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Comprising three tower blocks, You One integrates the five pillars of connectivity, living, value, design and leisure to present a "total lifestyle experience". The three towers are, namely, The Residenz, Soho and Broadway. Residents will have an exclusively reserved Lifestyle Level where they can unwind and relax from the hustle and bustle of the city while enjoying the view from the sky gym, sky lounge, sky bar and infinity pool. Surrounded by lush greenery, the Lifestyle Level reflects You One's GBI compliancy.

(NST-22 June 2012)

Bright future for Muara Tebas Top

Kampung Muara Tebas, near Kuching, will be developed into a modern township under a 10-year plan. The quaint and peaceful village of Muara Tebas, about 30km from here, will one day become the heart of a new, modern eco-friendly township. The first phase of the Muara Tebas Township will include 192 units of Rumah Mesra Rakyat (RMP) bungalows which are expected to be completed next year. State Housing and Tourism Minister Datuk Amar Abang Johari Openg said the ministry had a 10-year plan to make the area environmentally friendly. "Once completed, this town will be like a resort, surrounded by Kampung Muara Tuang and Bako National Park," said Johari after a briefing on the project near here yesterday.

(NST-22 June 2012)

MRCB to develop prime Bangsar land? Top

Malaysian Resources Corp Bhd has emerged as the frontrunner to develop a prime 8.09-ha site on Jalan Bangsar in Kuala Lumpur where the Unilever headquarters and factory once sat. Sources said MRCB is close to inking a deal with landowner Pelaburan Hartanah Bhd (PHB). They added that MRCB plans to build several office towers, a serviced apartment-cum-hotel, a retail mall and boutique outlets on the plot. The project is expected to rake in more than RM5 billion in gross development value (GDV), they said. “It will be an extension of the KL Sentral development in Brickfields, and may be linked to the Bangsar LRT station,” said a source. MRCB is the developer of KL Sentral, an integrated transport hub with GDV of over RM10 billion. The project is slated to complete in 2016. (NST-23 June 2012)

Glomac sees better times with more projects and bigger landbank in the Klang Valley Top

In and around Petaling Jaya, Glomac has some pretty interesting projects. In February of this year, it launched high-rise apartments, Reflection Residences in Mutiara Damansara, which is expected to be completed at the end of 2015 starting from RM800 per sq ft. There are few units left. It is also developing Glomac Centro in Bandar Utama, another serviced apartment from 1,175 sq ft to 1,162 sq ft with two-storey shop offices between RM700 and RM800 per sq ft.

Its third commercial project in Petaling Jaya is Damansara Residences project opposite Tropicana City Mall where its new headquarters is located. It is currently developing the fourth of a six-phased project here. Its Damansara project started out with a gross development value (GDV) of RM500million. Today, it has nearly doubled to about RM900million for a seven-acre site. The interesting part about all three of these projects is connectivity. They will have a My Rapid Transit (MRT) station several hundred metres away, a fact that FD Iskandar is very pleased about.

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Besides these projects, which comprise mainly serviced apartments with commercial retail element, the company will be moving into township development. In the last 18 months, Glomac has bought three pieces of land, each about 200 acres, in Sungai Buloh, Puchong and Dengkil, Sepang. It recently completed its sale and purchase for 200 acres in Puchong for RM77million. The land is near Tesco Puchong and there are plans to have rail transport, either the LRT or MRT, about 200 metres from the site. (The Star-23 June 2012)

SP Setia sees RM500mil revenue from Penang Top

SP Setia Bhd is projecting its Penang properties would generate about 15% or about RM500million of the company's 2012 revenue, expected to be about RM4billion. SP Setia Property (North) general manager Datuk S. Rajoo said that the developer's key contributing projects in Penang included Setia V Residences, Setia Triangle, Pearl Villas and 11 Brook Residences. The biggest contributor to revenue for the financial year ending Oct 31, 2012 (FY12) would be the Setia V Residences project, comprising 166 units in 43- and 48-storey towers in Kelawei Road. "This project will generate RM150million for the company's 2012 fiscal year. We have sold about 20% of the project to Penangites working overseas, locals and foreigners from Medan and China," he said. According to Rajoo, the 48-storey block would be the tallest residential tower in Penang and is built to withstand earthquake vibrations of up to 6.8 on the richter scale. The Setia V Residences units have built-up areas of at least 2,700 sq ft and are priced from RM2.7million onwards.

The RM265million Setia Triangle is expected to add about RM120million to the company's FY12 revenue. “The project, already 50% sold since the soft launch two months ago, comprises 34 units of two, three and four- storey shop-offices with built-up areas of 3,000, 4,500 and 6,000 sq ft, respectively,” he said. The units are priced between RM1.95million and RM3.6million. “There will also be a residential component comprising a 225-unit condominium, priced between RM575,000 and RM1.2million,” he said. (The Star-25 June 2012)

RM4.2m park for Fraser's Hill Top

Fancy being surrounded by colourful flowers while having a cup of tea in a colonial-styled house? This will soon be a reality when the RM4.2 million Fraser's Hill Parks and Garden project is completed in May next year. Tourism Minister Datuk Seri Dr Ng Yen Yen said various types of flowers would be planted on the 0.8ha park, especially those usually found in temperate countries. "The park will serve as the latest tourist attraction at Fraser's Hill, which is famous for company retreats and weekend gatherings," said Dr Ng, who launched the project on Sunday. (NST-26 June 2012)

KPJ will spend RM2b to build, expand hospitals Top

KPJ Healthcare Bhd will spend RM2 billion in the next five years to build new and expand existing hospitals locally and abroad. "We receive a lot of enquiries (from overseas) but we have been successful in Malaysia, and our priority is here," KPJ Healthcare chairman Kamaruzzaman Abu Kassim said after the group's shareholders meeting yesterday. He added that the group will look to investing overseas as and when the opportunity arises. Kamaruzzaman, who is also Johor Corp president and chief executive officer, said these plans will be funded mainly by selling its hospitals once completed, into the Al-Aqar healthcare Real Estate Investment Trust (REIT). Almost all of its 21 hospitals are already parked in the REIT. (NST-26 June 2012)

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Crowne Plaza to make way for Tradewinds Centre project Top

Tradewinds Corp Bhd (TCB) is scheduled to demolish two of its buildings here next year to make way for the Tradewinds Centre project. The Tradewinds Centre, which will have four towers and is stimated to have a gross development value of more than RM5 billion, will be built at the locations of the Crowne Plaza Mutiara Hotel and Kompleks Antarabangsa in Jalan Sultan Ismail. The project will sit on a 2.8ha land and consist of office units, serviced apartments and a retail component. According to sources, Crowne Plaza, which is managed by international hotel group Inter Continental Hotels Group (IHG), is expected to close its doors in March next year. Crowne Plaza is a 35-storey hotel with 565 rooms while Kompleks Antarabangsa is a 21-storey office building with five split-level. (NST-28 June 2012)

NCT banks on rising demand in Sepang Top

NCT United Development Sdn Bhd, a property development arm of NCT Venture Corp Sdn Bhd, expects to receive strong response for its township project, Sepang Perdana, as demand for properties in Sepang, Selangor, is on the rise. "There is demand for good, quality properties in Sepang and we believe we are in the position to address the demand," group managing director Yap Ngan Choy told Business Times in an interview recently. Sepang Perdana, built on 127ha of land, will comprise low-cost apartments, terraced, semi-detached and super- link houses, bungalows and commercial properties, among others. A gated-and-guarded community concept will be implemented for high-end properties. The Sepang Perdana development, which comprises more than 10 phases, is expected to generate a gross development value (GDV) of more than RM800million upon completion in 2017. Sepang Perdana was previously known as Taman Kenanga, one of the country's largest abandoned housing projects in Bandar Baru Salak Tinggi. The project was abandoned in 1999. (NST-28 June 2012)

LBS targets China property launch Top

LBS Bina Group Bhd plans to launch its maiden property project in Zhuhai, China, by the middle of next year. Managing director Datuk Lim Hock San said the first phase of the 79ha project might comprise a resort-type high-end landed one. "We are definitely going to launch the project in China next year. Depending on the market, it could be in the second or third quarter of 2013," he said after LBS' annual general meeting here yesterday. LBS had submitted its plans to the authorities for approval and should receive a reply in October, Lim added. The project, which will take five to seven years to complete, is a 60:40 joint venture with Jiuzhou Group, a Chinese government-linked company. (NST-29 June 2012)

Penang Port setto grow in stature Top

An automotive logistics hub to be built on mainland Penang for RM630 million is set to raise Penang Port's profile as a transportation and logistics hub. The Penang Port will be boosted further with the construction of a RM200 million Boon Siew Honda Sdn Bhd facility in Batu Kawan, Seberang Prai. The port's shipment volume is set to increase by as early as next year from the projects, said Northern Corridor Implementation Authority (NCIA) chief executive Datuk Redza Rafiq. Redza said the hub would be built by Shah Alam-based PKT Logistics Group Sdn Bhd in Seberang Prai. The new Boon Siew Honda facility, meanwhile, will serve as a one- stop production and sales centre. t will also house the company's manufacturing plant and service, parts and safety riding centre, along with a site to promote motor sports development. (NST-29 June 2012)

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Crest Builder unit to build RM1.3bil project Top

Crest Builder Holdings Bhd’s 51%-owned subsidiary, Landasan Bayu Sdn Bhd, had received a letter of intent from Lembaga Getah Malaysia (Malaysian Rubber Board) for the mixed property development with an estimated gross development value (GDV) of RM1.33billion. Landasan Bayu is a 51:49 joint venture between Crest Builder Sdn Bhd and Tindakan Juara Sdn Bhd. The plot of land which will be developed is located at the intersection of Jalan Ampang and Jalan Jelatek in Kuala Lumpur and has an area measurement of about 19,247 sq m.

“The estimated gross floor area of the development is expected to be about 1.65 million sq ft,” it said. The company told Bursa Malaysia that the mixed development comprised three 28-storey apartment and soho (small office home office) towers, a 33-storey corporate tower and a six-storey retail mall, and would be complete with the infrastructure, common facilities and common services. (The Star-29 June 2012)

KSL awaiting nod for project Top

KSL Holdings Bhd is yet to receive building approval for its proposed 10-storey high-end condominium development in Jalan Madge off Jalan U-Thant, Kuala Lumpur. The project has been on KSL's plans as far back as 2010, a company official said, who declined to put a timeline on the possible approval. KSL first obtained the project's land in June 2010 for RM24.5 million. On its biggest project KSL City, Ku said the 868-room KSL Resort is currently 70% completed, while KSL City Mall is 85% occupied. Next week, the developer with land mainly in Johor will launch phase one of its RM2.5 billion Bandar Bestari mixed development project in Klang. The project will have a gross development value of RM200 million. (NST-30 June 2012)

MEGA DEALS

Yung Kong unit selling land for RM12mil Top

Yung Kong Galvanising Industries Bhd (YKGI) subsidiary Star Shine Marketing Sdn Bhd (SSM) has entered into a sale and purchase agreement with Kota Tropika Development Sdn Bhd to dispose of a parcel of freehold vacant land in Klang for RM12.218million. In a filing with Bursa Malaysia yesterday, YKGI said that the land was disposed of to reduce SSM's bank borrowings and interest expense. (The Star-6 April 2012)

UEM Land unit to buy JB plot for RM93.2m Top

UEM Land Holdings Bhd's wholly-owned subsidiary, Nusajaya Premier Sdn Bhd (NPSB), has proposed to acquire 49.49 hectares of freehold land in Johor Baru from Tanjung Bidara Ventures Sdn Bhd for RM93.2 million cash. UEM Land said the proposed acquisition was conditional upon approvals being obtained from the Economic Planning Unit, Johor State Authority, Estate Land Board and any other relevant authorities.

(NST-10 April 2012)

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Atlan to sell land in JB for RM32m Top

Atlan Holdings Bhd’s wholly owned unit, Atlan Technology Sdn Bhd, is disposing of the remaining lease interest in a 1.96ha freehold land in Stulang Laut, Johor Baru, to Pesaka Ikhlas (M) Sdn Bhd for RM32.01 million. Atlan bought the land in 2009 for RM15.41 million, including costs related to the acquisition.

(NST-11 April 2012)

CIMB-TCA buys Canberra office building for A$226m Top

CIMB TrustCapital Advisors (CIMB-TCA) has acquired a 12-storey office building in Canberra, Australia, for an estimated A$226 million (RM716 million). CIMB-TCA, a joint venture between CIMB Real Estate Sdn Bhd and Singapore-based TrustCapital Advisors Pte Ltd, bought 50 Marcus Clarke Street from Walker Corp. The property is described as A-grade and is said to be one of the largest, newest and best-built assets in Canberra, CIMB-TCA said in a statement yesterday. This is CIMB-TCA's third property investment in Australia after 469 LaTrobe Street and 850 Collins Street which are both in Melbourne. (NST-12 April 2012)

Axis REIT buying industrial assets Top

Axis Real Estate Investment Trust (REIT) is proposing to acquire two leasehold industrial properties near Nilai, Negri Sembilan, from LRS Property Sdn Bhd for RM26.5million. The REIT manager said in an announcement to the stock exchange that the proposed acquisition would be paid for in cash and that the properties were tenanted with various term leases. (The Star-13 April 2012)

Kim Hin to buy office building in Australia Top

Kim Hin Industry Bhd will purchase a high-profile two-level office building in Victoria, Australia, for A$8.8 million (RM28.07 million). In a statement filed to Bursa Malaysia yesterday, Kim Hin said it has entered into a conditional sale and purchase agreement (SPA). The company paid A$880,000 (RM2.81m) as a 10% deposit. The balance of the purchase price will be paid on the terms and conditions to be agreed upon in the SPA.

(NST-13 April 2012)

E&O buys UK property Top

Lifestyle property developer Eastern & Oriental Bhd (E&O) has agreed to acquire its first major overseas property, a prime freehold office-cum-retail building in central London, for £20.25million or about RM100.91million. The property, Princes House, commands a prime position on the west side of Kingsway in the heart of London's Midtown. "A prominent neo-classical building called Princes House along Kingsway, the property will continue to be let for office use but offers E&O the opportunity in the future to harness its redevelopment potential, subject to planning permission," said E&O managing director Datuk Terry Tham Ka Hon. "This may include E&O branded serviced suites or residential apartments which would find a ready rental and sale market, given its proximity to the University of London, London School of Economics as well as the Inns of Court where student accommodation and legal offices are always in demand," he added.

(The Star-24 April 2012)

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Tradewinds to buy RM510mil property Top

Agro-based Tradewinds (M) Bhd has signed a sale and purchase agreement (SPA) with Tradewinds Corp Bhd to acquire a 31-storey office building in Kuala Lumpur for RM510mil. RHB Investment Bank Bhd said in an announcement on behalf of Tradewinds Malaysia's board that the acquisition would be for the proposed redevelopment of the site comprising a 31-storey office tower, an 8-storey car park podium and a food court.

(The Star-19 April 2012)

UOA selling building for RM93.8m Top

UOA Development Bhd is selling 14-storey office building at Bangsar South for RM93.8 million to DKLS Industries Bhd. (NST-21 April 2012)

IJM to sell land in Rembau to Canal City Top

IJM Land Bhd has agreed to sell a 285.88ha land in Rembau, Negri Sembilan, to Canal City Construction Sdn Bhd (CCC) for RM30.3 million cash. The cash proceeds from the sale will be used for working capital of the group. The disposal is expected to be completed by the third quarter of this year. (NST-24 April 2012)

Mulpha sells Jalan Sultan Ismail land for RM3,300 psf Top

Prior to this, two notable transactions in the vicinity were the acquisition of the 1.59-acre Wisma Angkasa Raya (land and building) by Sunrise Bhd in 2008 for RM2,588 psf and the acquisition of a 0.66-acre tract in Bukit Bintang for a record RM7,209.80 psf by Urusharta Cemerlang (KL) Sdn Bhd from CDL Hotels (M) Sdn Bhd, a member of London-based Millenium & Copthorne Hotels Plc. "In my opinion, you can't take the RM7,209.80 psf sale into account as it is an exception. So, the price of RM3,300 psf can be considered a record," said Sarkunan. Based on previous reports, Mulpha acquired the tract in 1996 for about RM1,000 psf and had plans to build a 23-storey Grade "A" office building with a lettable area of about 270,000 sq ft and an estimated gross development value of over RM350 million. Sarkunan believes that future land sales with approved development order will be pushing the RM3,300 psf level but tracts without, will still hover around the RM2,300 to RM2,600 psf. (The Edge-27 April 2012)

TA Global paying RM275.6mil for 4-star Movenpick Karon in Phuket Top

TA Global Bhd is buying the hotel and business of Movenpick Karon Beach Resort in Phuket, Thailand for US$90.2million (RM275.6million) cash. The property development and investment group told Bursa Malaysia that its wholly-owned subsidiary, Crystal Caliber Sdn Bhd, had entered into a sale and purchase agreement on Wednesday with Kingdom Hotel Investments regarding the Thai hotel. The four-star hotel has 175 guestrooms, 163 suites and villas and 30 beachfront two-bedroom apartments which are on a 82,828 sq m freehold site. TA Global also said the hotel had facilities including eight food and beverage outlets, four swimming pools, a spa with seven therapy rooms, a fitness centre, business centre, kids club and in excess of 1,350 sq m of meeting and banqueting space. The hotel is located about 15km from Phuket town, and is also within a 10-minute drive from Kata Beach and the Patong Beach district. (The Star-27 April 2012)

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Eonmetall Agro in land deal with POIC Top

Eonmetall Group Bhd’s wholly-owned unit, Eonmetall Agro Sdn Bhd, has entered into a sale and purchase agreement with POIC Sabah Sdn Bhd to acquire 242.8 hectares of land in Lahad Datu, Sabah, for RM8.26 million. The company told Bursa Malaysia that the acquisition is to facilitate its expansion in the palm oil industry through the setting up of a solvent extraction plant for downstream processing of palm-based related products, and a factory to fabricate palm oil-related machinery and equipment. (NST-3 May 2012)

Eonmetall to dispose of Penang land Top

Eonmetall Group Bhd is disposing of its freehold industrial land in Penang, together with the three-storey office building annexed with a single-storey factory building sitting on it, for a total cash consideration of RM26million. In a Bursa Malaysia announcement, Eonmetall said that its wholly-owned subsidiary Eonmetall Industries Sdn Bhd had entered a sale and purchase agreement with Jinfast Industries Sdn Bhd to sell of its land measuring 57508 sq m in Seberang Perai Selatan. The property price was agreed upon on a willing-buyer willing-seller basis taking into consideration of the market value of the property at RM28million at Oct 30, 2011. (The Star-8 May 2012)

Emas Kiara subsidiary buys land for RM5.3mil Top

Emas Kiara Industries Bhd (EKIB)'s wholly-owned subsidiary, Noblecorp Sdn Bhd, has acquired land in Kulai, Johor, from Creative City Development Sdn Bhd for RM5.258million. The company would obtain a bank loan to complete the acquisition which would not only benefit the group but also help diversify into different businesses including investment. (The Star-15 May 2012)

Amcorp Properties sells London flats Top

Amcorp Properties Bhd is selling an apartment development in London, England for £9.3million (RM46million) to International Trading Group (Holding) SAL and Universal Distributors Holding SAL. Amcorp Properties told Bursa Malaysia it agreed on Wednesday to sell its subsidiary Riverich Ltd, which owns a freehold 10-apartment unit development at 101 Lexham Gardens, London. (The Star-18 May 2012)

Mah Sing buys 172ha in Bandar Baru Bangi Top

The company has targeted to buy land that can generate gross development value (GDV) of RM5 billion. Mah Sing Group Bhd, one of the country's top developers, has bought 172ha of land in Bandar Baru Bangi, Selangor, for RM333.26 million, or RM18.55 per sq ft. The group acquired 170ha of freehold land from Boon Siew Development Sdn Bhd and around 1.6ha of leasehold land from an individual party. Mah Sing intends to develop Southville City in a few phases. Southville is expected to generate GDV of RM2.15 billion and it will be completed over the next five years. The first phase of the gated and guarded project will offer affordable homes for young families, mainly double-storey-link houses, indicatively priced from RM530,000. The remaining phases will offer linked-semi-detached (semi-D) houses, semi-Ds and bungalows for home upgraders. (NST-22 May 2012)

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Metrarama buying land for RM15m Top

Amtel Holdings Bhd (AHB)’s wholly-owned unit, Metrarama Sdn Bhd, has agreed to buy 4,252-sq-m freehold industrial land in Shah Alam from Ng Yoke Teng & Sons Sdn Bhd for RM15 million. Amtel plans to house all its major offices under one single roof. (NST-30 May 2012)

SOP unit inks land deal with Kion Tai Top

SARAWAK Oil Palms Bhd’s unit SOP Properties Sdn Bhd had entered into a sale and purchase agreement with Kion Tai Construction Sdn Bhd for the sale and purchase of the land worth RM9.6 million. The acquisition will be funded through SOP’s internally-generated fund, Sarawak Oil palm told Bursa Malaysia yesterday

(NST-1 June 2012)

Glomac buying Dengkil land for RM66.8mil Top

Glomac Bhd is buying 191.75 acres of agricultural land in Dengkil, Selangor, for RM66.8million or RM8 per sq ft from Lee Chin Cheng Dengkil Oil Palm Plantations Sdn Bhd. Glomac told Bursa Malaysia that it had plans for a mixed residential development for the land. The deal is subject to the Estate Land Board's approval for the transfer of the land. (The Star-2 June 2012)

Magna unit in RM100mil land deal Top

Magna Prima Bhd unit Magna Ecocity Sdn Bhd has proposed to buy 20 acres from PCM Bina Sdn Bhd, located in Section 15, Shah Alam, for RM100million via cash and share issuance. Magna Prima signed a conditional sale and purchase agreement with PCM Bina Sdn Bhd yesterday and stated that the RM100million payment would be satisfied by RM70million cash and the balance in the form of 1.11 million issuance of new ordinary shares representing a 30% interest in the enlarged share capital in Magna Ecocity or at approximately RM26.92 per Magna Ecocity share. The said land was located at the north-west intersection of Federal Highway, Expressway Lingkaran Tengah (ELITE) Highway and Guthrie Corridor Expressway, it said in a statement to Bursa Malaysia. Magna Prima is proposing to develop the land into a mixed residential and commercial project, comprising 180 units of 3-storey shop offices and 1,620 residential apartments. (The Star-6 June 2012)

Dijaya buys boutique hotel for RM54m Top

Property developer Dijaya Corp Bhd is buying a boutique hotel on a piece of freehold land in Kuala Lumpur from Multi-Purpose Holdings Bhd for RM54 million cash. The hotel, built on a 1,106 sq m land, is located just two minutes walk from Tung Shin Hospital and five minutes walk away from China town. (NST-9 June 2012)

Starhill REIT buys 3 Marriott hotels in Australia for RM1.315bil Top

Starhill Real Estate Investment Trust (REIT) has acquired three Marriott hotels in Australia for a total cash consideration of A$415million (RM1.315billion). The hotels acquired are the Sydney Harbour Marriott Hotel, Brisbane Marriott Hotel and Melbourne Marriott Hotel from the respective vendors Commonwealth Managed

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Investments Ltd, 30 Pitt Street Pty Ltd, 515 Queen Street Pyt Ltd and Lonex Pty Ltd. Managing director of YTL Corp Bhd/chief executive officer of Pintar Projek Sdn Bhd (which manages Starhill REIT) Tan Sri Datuk Francis Yeoh Sock Ping said that the acquisition of this new portfolio of hospitality assets would enlarge the REIT's portfolio to about RM3billion from RM1.58billion currently. With the acquisition, more than half of Starhill REIT's property value will be constituted by its hotel assets in Australia and Japan, making this the largest portfolio of overseas property investments of any Malaysian REIT. (The Star-14 June 2012)

Axis-REIT buying two buildings in PJ Top

Axis Real Estate Investment Trust's (Axis-REIT) trustee, OSK Trustee Bhd, has entered into two sales and purchase agreements to acquire Wisma Academy and the Annex in Petaling Jaya for RM85million from Academy Resources Sdn Bhd. "The proposed acquisitions will also enable Axis-REIT to diversify and enlarge its portfolio of properties and is expected to benefit the trust in the long-term as a result of economies of scale," said Stewart LaBrooy, chief executive officer of Axis REIT Managers Bhd, the manager of the trust.

(The Star-15 June 2012)

TA Global completes purchase of Phuket hotel Top

TA Global Bhd, a property development company, is expanding its hotel portfolio with the acquisition of the five-star Movenpick Karon Beach Resort and Spa in Phuket, Thailand. The acquisition, which is already completed, will enhance TA Global’s hospitality operations in major cities worldwide and expand its existing portfolio of hospitality properties in Thailand. Movenpick Hotel consists of 175 guestrooms, 163 suites and villas and 30 beachfront two-bedroom apartments. (The Star-20 June 2012)

DKSH arm to sell property to Absoland Top

DKSH Holdings (Malaysia) Bhd’s unit DKSH Central Services Malaysia Sdn Bhd plans to sell a leasehold land in Petaling Jaya together with a single-storey warehouse and two-storey office for RM30 million to Absoland Sdn Bhd. (NST-21 June 2012)

Dijaya subsidiary to buy Johor land Top

Dijaya Corp Bhd's 80%-owned subsidiary, Aliran Peluang Sdn Bhd, has entered a sales and purchase agreement to buy 11 parcels of land, measuring a total of 2.4 million sq ft, or 55.07 acres, in Mukim Pulai, Johor, for a total cash consideration of RM105.07million from the vendor, Chua Joo Cheng @ Chua Su Yin. Dijaya told Bursa Malaysia that the proposed acquisitions were part of its strategy to continue acquiring sizeable land banks with good development potential in strategic locations, which will provide an opportunity for it to expand and strengthen its existing business. (The Star-26 June 2012)

SEGI to buy land worth RM52m from Bandar Setia Alam Top

SEG International Bhd (SEGi)'s unit, SEGi Land (M) Sdn Bhd has entered into a conditional sale and purchase agreement with Bandar Setia Alam Sdn Bhd for a parcel of vacant freehold commercial land, worth RM52.272

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million. In a filing to Bursa Malaysia today, the company said the land measuring 4.85 hectares was located within the Shah Alam, Selangor area. "The group plans to set up, develop and construct a purpose built campus for its proposed international school on the land after taking into consideration the present rising demand for international schools in the Klang Valley," it said. (NST-26 June 2012)

Tradewinds (M) shareholders approve RM510m building acquisition Top

Shareholders of Tradewinds (M) Bhd approved its plan to buy a proposed building along Jalan Raja Laut for RM510million at its EGM on Thursday. The proposed building - called MRT 2 -- would comprise of 31 floors of strata office space with 440 car park bays. Tradewinds (M) had proposed that its unit, Sovereign Place Sdn Bhd, acquire the building from Skyline Atlantic Sdn Bhd, a unit of Tradewinds Corporation Bhd, for RM510million cash consideration. Tradewinds (M) has stated the rationale was the acquisition would allow the group to have its own "Grade A" MSC compliant corporate tower with Green Building accreditation.

(The Star-29 June 2012)

RETAIL'S CORNER

MADO to tantalise taste buds with Turkish delights Top

MADO Asia, which is bringing in Turkey's leading ice-cream brand MADO, is projecting RM130 million in sales from Malaysia within three years. The group, which will officially open its RM3 million flagship cafe in Bukit Bintang April 4, plans to operate a mix of 15 outlets and kiosks by end of the year mainly in the Klang Valley. Investment per kiosk is between RM350,000 and RM500,000, depending on the size, while its outlet starts from RM800,000 each. (NST-4 April 2012)

Honda opens new centre in Setia Alam Top

Honda Malaysia recently officiated the opening of its new 3S Centre in Setia Alam to accommodate the growing market for Honda vehicles in that vicinity and provide better accessibility. Tiong Nam Motor is the latest and biggest Honda 3S centre in the Shah Alam-Klang area that offers sales, service and spare Parts under one roof. Tiong Nam Motor invested RM7.3mil for the building, facilities and equipment in what is also the 60th Honda dealership in Malaysia. It is also the first 3S Centre located in the Setia Alam Township.

(The Star-14 April 2012)

Berjaya Land courts Parkson Top

Berjaya Land Bhd (BLand) is in discussions with Parkson Holdings Bhd (PHB) to open a department store at its RM7.5 billion Great Mall of China (GMOC) in East Beijing, China. "Parkson is expanding in China and we are trying to talk them into taking up space at GMOC but nothing is firm yet," BLand chief executive officer, Datuk Francis Ng Sooi Lin, told Business Times. The 18.5 million sq ft complex is being developed in two phases on the outskirts of Beijing in the Hebei province, some 30 minutes' drive from the Central Business District. The

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developer is Berjaya Great Mall of China Co Ltd (BGMOC), which is 51% owned by BLand, and the rest by Berjaya Group founder Tan Sri Vincent Tan via his Berjaya Times Square Caymen Ltd. Under the Phase One development, BGMOC is building a retail and pedestrian mall, each with a built-up of more than one million sq ft, three theme parks and parking. (NST-24 April 2012)

Ayamas eyes overseas debut by year-end Top

KFC Holdings (M) Bhd (KFCH) will open 10 Kedai Ayamas outlets this year to complement its existing 85 outlets in the country. Kedai Ayamas will also make its overseas debut this year, with its first outlet in Brunei opening by year-end. The company had allocated RM5 million for the opening of the 10 outlets in Malaysia, while the one in Brunei had cost RM1.23 million. KFCH managing director Jamaludin Md Ali said seven of the planned new outlets are already in operations, with three more to open later. (NST-27 April 2012)

BMW Malaysia opens MINI service centres in KK, Kuching Top

BMW Malaysia Sdn Bhd has launched its new MINI service centres in Kota Kinabalu and Kuching respectively to tap the growing demand there. The service centres, which are the first authorised MINI centres in Sabah and Sarawak, were launched together with its premium partners FM Autohaus and Regal Premium Auto.

(NST-28 April 2012)

Domino’s recipe for double-digit growth Top

Domino's Pizza Malaysia expects sales to continue growing in double digits this year by opening new outlets and refreshing its product mix. President and chief operating officer Ba U Shan-Ting said Domino's could potentially venture into Sabah and Sarawak next year. The company is targeting 100 stores by the end of this year, from 80 stores currently. There are 28 stores in Selangor, 25 in Kuala Lumpur, six in Negri Sembilan, four in Penang, five Perak, two in Malacca and 10 in Johor. "We have opened five stores to date this year with investments of about RM500,000 on average for each," Ba said. (NST-3 May 2012)

AUM One to introduce new F&B outlet Top

AUM One Concepts Sdn Bhd, a joint venture between AUM Hospitality & Entertainment and Station One Holdings, will soon introduce a totally new themed F&B outlet called Studio Lounge. "A hybrid between a club and a bar minus the load music, the studio offers urbanites a new way to relax and entertain, promises and innovative, contemporary and exclusive concept that would revolutionise the lounge scene in Malaysia," AUM One Concepts said in a statement. Other areas identified within the Klang Valley include Sunway/Subang. There are also plans to open the studio outlets in Penang, Johor, Perak, Melaka, Sabah and Sarawak.

(NST-4 May 2012)

Debenhams to open flagship store in Starhill Top

BRITISH department store chain Debenhams will open its brand new flagship store at Starhill Gallery at 10am on May 19. At over 37,000 sq ft, the store is the largest Debenhams in the country and offers a host of new

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designer ranges as well as an eagerly anticipated fine furnishings and home accessory department. The store will be officially opened the night before with a fashion show incorporating the most popular Debenhams designer ranges such as Jasper Conran, Henry Holland, John Rocha, Matthew Williamson and The Principles range by Ben de Lisi. (The Star-7 May 2012)

UMW Toyota opens body and paint centre in Bukit Raja Top

UMW Toyota Motor Sdn Bhd has opened a 2.3ha body and paint centre in Bukit Raja, Klang. The new facility, which started operations on May 2, is part of the company's RM200 million integrated quality hub. The investment is part of UMW Toyota's RM1 billion investment plans for three years until 2013. The body and paint centre is currently equipped with 42 work bays and four paint booths, which fully comply with the standards set by Toyota Motor Corporation Japan. It also has a repair capacity of 6,150 units per year.

(NST-8 May 2012)

Tomei allocates RM20mil this year to expand retail network Top

Leading jewellery retailer Tomei Consolidated Bhd has allocated RM20million to open up to six new stores nationwide by year-end in view of stronger demand for gold products. Managing director Ng Yih Pyng said the group’s retail distribution channel, which spanned more than 70 stores nationwide, remained as the main revenue contributor. Ng said the new stores would be located in various states in Malaysia, including Kuala Lumpur, Selangor, Kedah and Sabah. (The Star-16 May 2012)

Setia City Mall opens Top

After starting construction in 2009, and with over six million man hours of work completed, the first phase of Setia City Mall opened to shoppers yesterday. A holistic lifestyle destination, the new mall includes a 4.25ha park, alfresco dining precinct, water jet plaza, children’s play facilities and a huge range of leading local and international retailers. Setia City Mall is anchored by a 120,000 sq ft (11,150 sq m) Parkson department store, Fitness First, Harvey Norman, MPH Bookstore, Daiso, Courts and the very first Urbanfresh supermarket.

(The Star-18 May 2012)

Mydin's largest mall now in Ipoh Top

MYDIN Mohamed Holdings Bhd officially launched the opening of its largest hypermarket mall at Meru Raya here yesterday. The RM200 million investment projects is the local company's ninth hypermarket branch in the country and first in the state. More than 700 people had been recruited to work at the 73,486sq m premise, which is located in a developing township known as Bandar Meru Raya, which has been set by the state government to be known as a "green city". (NST-19 May 2012)

Sennheiser to open concept store in Malaysia Top

Singapore-based Sennheiser Electronic Asia Pte Ltd (Sennheiser Asia) is opening its first concept store in Kuala Lumpur, Malaysia. "Malaysia is a good platform to develop our brand further. Sennheiser is already recognised

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here through our existing retail channel networks (where our products are displayed along with other brands)," said Sennheiser Asia president and managing director, Ng Chee Soon. After Malaysia, Sennheiser Asia plans to open concept stores in Cambodia and the Philippines, within this year, Ng said. (NST-22 May 2012)

Audio specialist opens flagship store Top

German audio specialist company Sennheiser has officially launched their first flagship store in Malaysia. The premium 65 sq m store, which is located within CapSquare, Kuala Lumpur marks the company’s most significant retail front in the country. The new store boasts a wide range of headphones and earpieces that will cater to the needs of both casual listeners and serious audiophiles. Sennheiser has an impressive range of headphones specifically designed for varying lifestyles which include travel, sports, home entertainment, street, audiophile and DJ lines. (The Star-25 May 2012)

AEON on expansion trail Top

MALAYSIA'S largest department store-cum-supermarket AEON Co (M) Bhd is strengthening its position in the northern and southern zones of Peninsula Malaysia. The Japan-based retailer, which will have a total of 26 department stores cum supermarkets by year end, is also working on having a presence in cities in the east coast as well as Sabah and Sarawak within three years, at the earliest. "Moving forward, we want to expand in the northern and southern area of Peninsular Malaysia and be a dominant player in these zones. We are also exploring the east of the Peninsula and East Malaysia where there is potential," said its managing director Nur Qamarina Chew. The retailer has acquired land in Sungai Petani, Kedah; Bukit Mertajam, Seberang Perai; and Kulai, Johor, which are scheduled to see store openings in 2014-2015. The total cost for the three stores is expected to be between RM600 million and RM750 million, with a total net lettable area of between 1.35 million and 1.65 million sq ft. (NST-25 May 2012)

KFCH set to open up to 17 new outlets this year Top

KFC Holdings (M) Bhd (KFCH) will open between 15 and 17 new outlets this year to add to its current 542 outlets nationwide. Investment of between RM1 million and RM4 million will be allocated for each of the new outlets, said KFCH Peninsular Malaysia deputy president Alan Au. KFCH is the franchisee for KFC in Malaysia, Singapore, Brunei and India with over 640 outlets and has over 26,000 staff in these countries excluding India. (NST-26 May 2012)

BMW Group launches new 4S centre in Setia Alam Top

BMW Group Malaysia yesterday launched Wheelcorp Premium, the latest BMW 4S (sales, service, spare parts and systems) dealership in Bandar Setia Alam and the Klang area. Managing director Geoffrey Briscoe said the two areas have high business potential for BMW Malaysia. The new Wheelcorp Premium BMW 4S occupies a total built up space of 12,600 square feet and it has the capacity of displaying five vehicles with three service bays that also offer BMW Fastlane Service. (NST-26 May 2012)

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J Nine raises sales target, plans more outlets Top

J Nine International Sdn Bhd, the exclusive distributor for the world's softest footwear, Kybun, aims to sell about 900 pairs a month via its eight outlets next year. "Currently, we are selling 60 pairs a month from our head office-cum-outlet at Taman Desa Aman, Cheras, Kuala Lumpur. J Nine just opened its second outlet at Publika Shopping Gallery here and planned to open six more outlets at strategic market centres, he said, adding that the third outlet would open in Penang in the second half of the year. (NST-28 May 2012)

Popular bookstore opens in Paradigm Mall Top

Popular Malaysia unveiled its 71st store in Paradigm Mall, Kelana Jaya recently. The 16,000 sq ft shop is located on the second floor of Paradigm Mall, presenting a wide variety of books while providing a spacious, comfortable and relaxing place for customers. They will also be able to enjoy the latest and innovative selection of stationery items in the new store. (The Star-31 May 2012)

'One-of-a-kind' gourmet hub opens in KL Top

Jasons Food Hall, a new gourmet hub, was recently launched at the Bangsar Shopping Complex. GCH Retail (M) Sdn Bhd group operations director Ian Cruddas said Jasons was already well-known in countries such as Singapore, Hong Kong and Taiwan. "Jasons is a one-of-a-kind gourmet hub in Malaysia. It is the only food hall in the country where the ambience is more like a boulevard than a supermarket." Cruddas said Jasons was designed as a paradise for food lovers. Almost 60% of the items sold in the store are imported, and many are exclusive and available only at Jasons. (NST-31 May 2012)

Ben’s Innovative Groceries Top

Benjamin Yong’s food empire includes not only a chain of restaurants but also a supermarket with a twist. Thinking of having a party inside a supermarket? How about serving the finest sashimi, wagyu beef and truffle chocolates to guests amidst aisles of goods and clinking champagne glasses as a jazz band plays? This was part of the Feast-ival that Benjamin Yong decided to have at his B.I.G or Ben’s Independent Grocer at Publika Solaris Dutamas mall, Kuala Lumpur, last weekend, a bold declaration of his daring approach to local retailing.

(The Star-3 June 2012)

Tesco opens at Paradigm Mall Top

The Kelana Jaya community can now look forward to great prices and a rewarding shopping experience as Tesco Malaysia launched its new store at Paradigm Mall, here, recently. The store offers a wide range of fresh food, groceries, apparel, electrical appliances, health and beauty products, and furniture at affordable prices. It is the second Tesco store to be opened in Petaling Jaya after the one at Mutiara Damansara.The new store was launched by Tesco Malaysia chief executive officer Sung Hwan Do. (NST-12 June 2012)

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Parkson investing RM48mil in five stores in Indonesia Top

Malaysian retailer Parkson Retail Group will invest US$15mil (RM47.9mil) to open five new stores in Indonesia next year, said managing director Datuk Alfred Cheng.Cheng said the company was bullish on the Indonesian market as the country’s political stability had provided a strong foundation for the growth of private sector. In September 2013, Parkson will open its first store in Indonesia, which will be located at The St Moritz within the Puri CBD in West Jakarta. (The Star-29 June 2012)

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