TEP 2 FRIDAY NOVEMBER 11, 2016 • THEEDGE FINANCIAL DAILY NEWS HIGHLIGHTS from TheEdgeProperty.com

Tan Sri Lee Kim bids. There will be an open house MOHD IZWAN MOHD NAZAM / TheEdgeProperty.com Yew donates four of the auction bungalows on Nov 12, The signing 2016 for interested bidders to view ceremony between bungalows for the property. Titijaya Land Bhd charity auction The Edge Property and China Railway The founder and chairman of The Engineering Mah Sing launches Mines Resort Bhd and Country Lock & Roll deferred Corp Sdn Bhd Heights Holdings Bhd Tan Sri Lee was witnessed by Kim Yew has donated four bunga- fi nancing campaign Urban Wellbeing, lows worth more than RM12 million Mah Sing Group Bhd launched its Housing and Local in total for a charity auction to aid inaugural Lock & Roll deferred Government Minister the Malaysian Education Care So- fi nancing campaign last weekend. Tan Sri Noh Omar ciety (MECS) in raising funds for its Mah Sing said the campaign aims (fourth from left). education activities. to enable easy home ownership for “Part of the proceeds from this its homebuyers. “It is an innova- Titijaya teams up for these units will range from Publisher and Group CEO auction — after deducting the tax, tive deferred fi nancing plan where with CREC for RM2.1b RM500,000 to RM1.2 million. Ho Kay Tat auction and title transfer cost, will buyers can fi rst ‘lock’ a unit in with To facilitate the collaboration, go to the MECS which was founded a RM10,000 booking fee and ‘roll’ Jalan Ampang mixed Titijaya’s wholly-owned subsidiary by the National Union of Heads of out their cash for other priorities development Titijaya Resources Sdn Bhd and Schools in Malaysia,” he said. or investment purposes,” said the Titijaya Land Bhd has partnered CRECD have entered into a share According to Lee, all proceeds developer. CREC Development (M) Sdn Bhd sale agreement to acquire Ampang from the fi rst auction property, which Buyers will serve the interest of (CRECD) for a mixed development Avenue Development Sdn Bhd for The Edge Property Sdn Bhd (1091814-P) is a 2-storey bungalow with a land their loan for the first 24 months on a 6.06-acre site at the Embas- RM80 million. Level 3, Menara KLK, No 1 Jalan PJU 7/6, Mutiara Damansara, 47810 and the full instalment sy Row in Jalan Ampang, Kuala Ampang Avenue’s subsidiary Petaling Jaya, , Malaysia will begin from the 25th Lumpur. Nipah Valley Sdn Bhd is the reg- month, it said. The mixed development named istered owner of the 6.06-acre Participating pro- 3rdNvenue will have an estimated site. Titijaya and CRECD will hold Th eEdgeProperty.com jects for the campaign gross development value of RM2.1 70% and 30% stakes respectively Managing Director/Editor-in-Chief include Icon Residence billion. It will comprise 2,400 in Ampang Avenue. CRECD is a Au Foong Yee in Mont’Kiara, M Galle- units of Small-offi ce Home-offi c- wholly-owned subsidiary of Chi- EDITORIAL ria in Rawang, Icon City es, serviced apartments and retail na Railway Engineering Corp (M) Editor Lam Jian Wyn @ Petaling Jaya, Aspen lots. The indicative selling prices Sdn Bhd. Contributing Editor Sharon Kam Bungalows and Garden Deputy Chief Copy Editor James Chong Boulevard Shop in Cyber- Senior Copy Editor area of 9,604 sq ft and a reserve jaya, Austin V-Square Shops in Jo- in Seberang Perai Utara in . ridor with good accessibility from Shanthi Murugiah price of RM2.5 million, will be do- hor Bahru, and Ferringhi Residence, In a statement, S P Setia said the North-South Highway via the Writers Rachel Chew, Tan Ai Leng, nated to MECS while 10% of the net Legenda @ Southbay and Southbay it has been notified by WTW Real Bertam Interchange, the planned Natalie Khoo, Shawn Ng, Lum Ka Kay Art Director Sharon Khoh earnings from the other three auc- Plaza on Penang Island. Estate Sdn Bhd of its success- eco-themed township has a po- Design Team Nik Edra, tion bungalows will be channelled ful tender bid of RM620 million tential gross development value of Nurul Aida Mohd Noor to MECS as well. S P Setia to for a 1,675-acre freehold site in RM9.6 billion spanning over 15 to For New Launches/Events/ The charity auction, which will develop township Seberang Perai Utara. 20 years, said the developer. Press Releases/News Tips be held on Nov 19, 2016, will see Located within the Butter- This marks the developer’s first email: [email protected] the four bungalows located at The in Seberang Perai worth-Sungai Petani Growth Cor- foray into mainland Penang. Tel: 03-7721 8211 Fax: 03-7721 8280 Email: [email protected] Mines Resort City being put up for S P Setia Bhd is planning to develop an eco-themed mixed development How do I get past issues of this weekly pullout? ADVERTISING & MARKETING township on a recently acquired site Head of Marketing and Sales Go TheEdgeProperty.com Sharon Chew (012) 316 5628 trending Senior Account Managers to download for free Cecilia Too (012) 319 7666 now Jayne Law (016) 929 3309 Account Managers Jayremy Sim (011) 1669 6039 Jocelyn Poo (012) 611 5626 If you have any real estate-related events, email us at [email protected]. Marketing Support & Ad Traffi c LAUNCHES + EVENTS Events listed here will also appear on TheEdgeProperty.com. Madeline Tan (03) 7721 8218 email: [email protected] Email : [email protected] IJM Land’s Fiesta Eco World Development Group Contact: (017) 964 0700 Contact: (03) 3343 2255 NEGOTIATOR ADVISORY SERVICE Magica Carnival Bhd (EcoWorld) is bringing its Sunway Property is organising an S P Setia Bhd is launching 82 Senior Manager Elizabeth Lay Senior Associate Stannly Tan Date: Nov 13 (Sun) fi rst Penang integrated Skyhome early Christmas celebration for units of 3-storey terraced homes Associate Karen Wong Time: 9am to 8pm at Eco Bloom nearer to Klang everyone ahead of the opening Decora and 48 units of 3-storey Venue: IJM Land Seremban Valley folks this weekend. The of Sunway Velocity Mall by Dec linked semi-dee homes Eximia For enquiries and listings email: [email protected] 2 Sales Offi ce, PT 10786, event will also feature Chur 2016. Participants will be able to at Setia Alam, Precinct 11. Prices GL: (03) 7721 8175/ 8172 Seremban 2, Associates founder Chris Tan, take part in a special Christmas start from RM860,000 and Email: [email protected] Contact: 1800 222 456 who will give a talk on options lucky draw with exciting prizes RM1.27 million, respectively. Organiser: IJM Land Bhd for a sustainable property such as smartphones and Presale roadshow of The LINE TheEdgeProperty.com pullout is The Fiesta Magica Festival will be investment on Nov 13 at 2pm. shopping vouchers to be won. published by The Edge Property Sdn graced by one of Malaysia’s top Sukhumvit 101 Bhd. It is available with The Edge magicians Mahdi Moudini and Business strategy talk Grand launch of Escada linked Date: Nov 12 and 13 (Sat and Sun) Financial Daily every Friday. The @ Eco Spring semi-dees at Setia EcoHill pullout is also distributed at more children can enjoy the multitude Time: 11am to 7pm than 200 offi ces, shopping complexes, of fun games and activities Date: Nov 12 (Sat) Date: Nov 12 and 13 (Sat and Sun) Venue: The Westin , condos, medical centres, F&B outlets including balloon sculptures, Time: 2pm Time: 10am onwards 199, Jalan Bukit Bintang, Bukit and LRT stations in the Klang Valley. snow globe photo booth, cosplay Venue: Eco Spring & Eco Venue: Setia EcoHill Welcome Bintang, Kuala Lumpur You can also download it for free at www.TheEdgeProperty.com competition as well as a lucky Summer Show Village, Eco Centre, No 2, Jalan Ecohill 1, Setia Contact: (019) 227 5317 draw for all Seremban 2 and Spring, Bahru, Johor Ecohill, Semenyih, Selangor The LINE Sukhumvit 101 by Sansiri Seremban 2 Heights homebuyers. Contact: (07) 364 2552 Contact: (03) 8724 2255 Public Ltd Company has been Th e Edge Malaysia EcoWorld has invited Jane S P Setia Bhd is launching its launched in six Asian countries Eco Bloom’s integrated EDITORIAL Ng, the founder of Kinsahi, Escada double storey linked semi- including Kuala Lumpur, Shanghai, Editor-in-Chief Azam Aris Skyhome viewing Arashi and other multiple dees at Setia EcoHill with exclusive Taipei, Hong Kong, Singapore and CORPORATE Date: Nov 12 and 13 (Sat and Sun) food and beverage brands, promotions and rewards for Bangkok. Located at Sukhumvit Chief Operating Offi cer Lim Shiew Yuin Time: 10am to 6pm to share her entrepreneurial homebuyers. There will also be a Road, the 37-storey residential ADVERTISING & MARKETING Chief Commercial Offi cer Venue: EcoWorld Gallery @ Eco journey with the public. “Taste of Penang” feast for visitors. building comprises 778 units with Sharon Teh (012) 313 9056 Sanctuary, built-ups from 288 sq ft to 680 sq General Manager Lot 41926, Triple the Joy at Launch of Decora and Eximia ft. Prices start from RM478,000. Kingston Low (012) 278 5540 Sunway Velocity at Setia Alam Senior Sales Managers Persiaran Eco Fong Lai Kuan (012) 386 2831 Sanctuary, Date: Nov 12 and 13 (Sat and Sun) Date: Nov 12 and 13 (Sat and Sun) Gregory Thu (012) 376 0614 Telok Panglima Time: 10am to 5pm Time: 9am onwards Kamalesan Parama (012) 394 4855 Michael Tan (012) 213 0252 Garang, Venue: Sunway Velocity Sales Venue: Setia Alam Welcome Creative Marketing Selangor Gallery, V02-G-02 & 03, Centre, No 2, Jalan Setia Indah Chris Wong (016) 687 6577 Contact: (03) Lingkaran SV, Sunway Velocity, AD U13/AD Setia Alam, Seksyen Head of Marketing Support & Ad Traffi c 3344 2525 Jalan Peel, Kuala Lumpur U13, Shah Alam, Selangor Lorraine Chan (03) 7721 8001 Email: [email protected] FRIDAY NOVEMBER 11, 2016 • THEEDGE FINANCIAL DAILY TEP 3 TEP 4 FRIDAY NOVEMBER 11, 2016 • THEEDGE FINANCIAL DAILY NEWS First landed residences at Aspen Vision City to launch next year

KENNY YAP / TheEdgeProperty.com BY NATALIE KHOO dition units. It is Aspen Vision City’s fi rst residential development. PENANG: Aspen Vision Development Sdn Th e project was soft-launched in Febru- Bhd (Aspen Group) is set to launch its fi rst ary this year and is already 60% booked. Th e landed housing project at Aspen Vision City in project has a gross development value (GDV) Bandar Cassia, Batu Kawan, Penang next year. of RM620 million. It has 1,282 units with Aspen Vision City covers 245 acres of free- built-ups ranging from 1,030 sq ft to 1,290 hold land and is one of the biggest mixed de- sq ft. Prices start from about RM450,000. velopments in Penang off ering a combination Aspen Group had also recently launched of condominiums, shopoffi ces, serviced suites, Small-office Home-office (SoHo) units hotels, offi ce tower, fi nancial hub, medical known as Beacon Executive Suites in George centre, international school and a range of Town, Penang in September. It has achieved amenities. Th e northern region’s fi rst IKEA a 40% take-up rate so far. furniture store will also be located there. “Th ere are a total of 227 units with built- “Th is will be our fi rst landed and luxurious Murly: Our target market is the ups of 980 sq ft. Prices start from RM558,000,” designer bungalow development in Aspen elite group in mainland Penang. said Murly, adding that the project has a Vision City which is named ViLuxe. Th ese GDV of RM150 million and is targeted for upcoming bungalows will raise the bar of completion by 2019. luxury projects in mainland Penang. It will He added that due to its ac- On the property market, he noted that also have direct access to our 25-acre Central cessibility, the economy of scale the market has been challenging not only Island Park,” Aspen Group CEO Datuk Murly in Batu Kawan will be better than in Penang but in the entire region. Manokharan told Th eEdgeProperty.com. in Penang Island as the area is “However, it very much depends on the Th ere will be a total of 157 units with prices well connected to almost all relevance of the product to buyers. Th e right starting from RM2.5 million. states in Peninsular Malaysia. product will still strike the market well. Th e “Our target market is the elite group in Th e high-tech and light indus- property market will remain challenging next mainland Penang and those who know how to Artist’s tion of choice for people from tries that are mushrooming in Batu Kawan year and developers need to understand appreciate the fi ner things in life,” said Murly. impression of other northern states which also play key roles as job centres. With all these the needs of the market and put in more According to him, Batu Kawan is the only Aspen Vision is a largely untapped mar- elements and the attractive land cost, it is not thoughtful details so that the new projects landbank in Penang and the entire northern City. ket. Batu Kawan is a well- ambitious to say Batu Kawan will spearhead will remain relevant to buyers,” he off ered. region that has infrastructure completed planned satellite city — the the future of Penang’s commercial and fi nan- Aspen Group has so far achieved RM850 ahead of property developments. infrastructure and public amenities are all cial activities,” he said. million in sales and targets to hit RM1 billion “Billions of ringgit have been spent by the well thought-out by the government. In Meanwhile, the group will also offi cially sales by the end of the year. government to connect Penang Island to Batu [other] developments, developers need to launch another component of Aspen Vision Th e group has a current undeveloped Kawan. pay high land cost and heavy infrastructure City, Vertu Resort, in December. landbank of RM13.1 billion GDV and is “Th e North-South Highway at Batu Ka- investment before they start their develop- Vertu Resort is a resort-inspired condo planning to acquire more potential land in wan makes it very attractive as a destina- ments,” said Murly. development with furnished move-in con- Penang and the Klang Valley.

More launches of 3-storey homes at Setia Alam Precinct 11 following good response

BY NATALIE KHOO of Eximia and Decora is estimat- ed to be RM63 million and RM76 SHAH ALAM: S P Setia Bhd is million, respectively. launching 3-storey terraced homes Th e two products will have a Decora and 3-storey linked semi- modern contemporary design. dee homes Eximia this Saturday “For example, our Eximia semi- (Nov 12) at Setia Alam’s Precinct 11. dees will have a nice glass balcony Precint 11 faces the wetlands on the top fl oor. I believe when you Artist’s park in Setia Alam, allowing home- have a nice balcony, people will impressions owners to enjoy a natural setting, tend to utilise it more. For Dec- of Decora (far Setia Alam general manager Tan ora, it has a glazed-glass façade left) and Eximia Siow Chung told TheEdgeProp- which allows natural lighting to homes. erty.com. penetrate,” Tan explained. “Th ere will be a total of 82 units Th ese two launches come un- by purchasers pay only 10% upon pleted. Th at gives them the time to Setia City Mall and Setia City Park. of Decora priced from RM860,000 der the Setia 10:90 scheme, where- signing the Sale and Purchase sell off their old house while waiting “Setia Alam is a mature town- onwards and 48 units of Eximia Agreement and pay the balance for their new home to be complet- ship with plenty of amenities. We priced from RM1.27 million on- KENNY YAP / TheEdgeProperty.com 90% only after the completion of ed,” said Tan, adding that some of have our residential units, offi ces, wards,” said Tan, adding that the the property. the buyers include those who are schools, convention centre and developer had received an over- S P Setia had earlier this year already staying in Setia Alam and commercial units all in place. Ten whelming 2,000 expressions of in- launched Edulis and Retusa 3-sto- are looking for a bigger home to years ago, you could buy a proper- terest to date for the homes. rey terraced homes and 3-storey accommodate their growing family. ty here for RM200,000. Today, the Built-ups for Decora range from linked semi-dee homes in Setia “Th ese two products also suit value has appreciated more than 2,370 sq ft to 2,731 sq ft with a land Alam. multi-generational living as we have 200%,” said Tan. size of 20ft by 65ft. “Retusa and Edulis are almost a comfortable guest room on the Tan also noted that there will be Eximia’s built-up sizes range sold out with just a few units left,” ground fl oor suitable for the elderly more similar launches in the future from 3,194 sq ft to 3,686 sq ft with said Tan. in the family,” Tan added. in Setia Alam. a land size of 32ft by 70ft. Th e back He noted that these products The development is targeted “Next year is expected to be a of an Eximia linked semi-dee unit target mainly fi rst-time homebuy- for completion at the end of 2018. soft year for the property market. will be linked to the back of an- ers as well as upgraders. Th e Setia Alam township is eas- However, S P Setia is confi dent that other unit. “Especially for upgraders or buy- ily accessible via the New Klang we will continue to do well with Both Eximia and Decora units ers with existing properties, they do Valley Expressway through the our varied range of products to off er 5 bedrooms and bathrooms. Tan: We will continue to do well with our not have to worry about the payment Setia Alam link or Jalan Meru and cater to our homebuyers’ needs,” Th e gross development value varied range of products. of the house until the house is com- has many amenities nearby such as Tan said. FRIDAY NOVEMBER 11, 2016 • THEEDGE FINANCIAL DAILY TEP 5 TEP 6 FRIDAY NOVEMBER 11, 2016 • THEEDGE FINANCIAL DAILY NEWS Lee and the secrets of Desa ParkCity’s allure

BY TAN AI LENG

KEPONG: Good design, well- planned infrastructure and facili- Catch a video of the event at ties, and a large enough population that could create business vibran- www.theedgeproperty. com cy — these are the elements that have made the Desa ParkCity mas- ter planned township development in Kepong one of the most desirable addresses in Kuala Lumpur. “The liveliness of the township, the healthy lifestyle and sustainable elements that it promotes as well as its secure and safe environment are also some of the basic factors that contribute to the success of Desa Park- City, which was once an active quar- ry that nobody wanted to be near to,” said Perdana ParkCity Sdn Bhd former The Breakfast CEO Lee Liam Chye during Th eEdge- Chat event Property.com Breakfast Chat at the attracted over Desa ParkCity clubhouse last Satur- 100 attendees. day (Nov 5). Perdana ParkCity — a unit of Sar- MOHD IZWAN MOHD NAZAM / TheEdgeProperty.com awak-based Samling Strategic Group Lee: The master at young couples or single home- — is the developer of the 473-acre planning of Desa buyers. award-winning township. Organised ParkCity aims to “The product will be targeting an by TheEdgeProperty.com, Lee was in- invite people to untapped market. The project will vited to share the philosophy behind own and use the offer affordable compact apartment Desa ParkCity township’s master plan public place. units for young couples or single work- and its success. Over 100 attendees ing individuals who are not eligible were at the event. The session was for the government’s affordable home moderated by TheEdgeProperty.com schemes,” he said. managing director and editor-in-chief However, he emphasised that af- Au Foong Yee. Below: The fordable homes do not mean low- Inspired by a development concept attendees cost homes. “It’s affordable for the that emphasises open and leisure spac- grabbing the market segment that we are serving,” es, which are popular in developed opportunity to he explained. countries, Lee said the vision was to take a photo According to Lee, the compact create a township where the public with Lee. units will have a built-up size of about places are fi lled with people enjoy- 500 sq ft with choices of one bedroom ing lively activities, like jogging and or two bedrooms. cycling or just taking a stroll. Lee also sees opportunities arising “The master plan of Desa ParkCity from an aging population and he is as well as its DNA is to invite people to (From left) mulling the idea of developing a life- own and use the public place, which Lau, Au time community that promotes an is safe and secure,” said the 63-year- and Lee age-friendly environment and mul- old, who recently assumed the role greeting ti-generational activities. of personal advisor to the group ex- each other “Aging people do not want to ecutive chairman. Former executive before the feel that they are being isolat- director Datuk Joseph Lau is now the Breakfast ed. We need more facilities in our new CEO of Perdana ParkCity. Chat. community public places to en- Lee cited that the sense of com- courage their participation in munity, identity and belonging are community activities. Desa Park- the main reasons that keep drawing City is working towards this direc- people to Desa ParkCity. tion,” said Lee. To attract people to the public spac- He disclosed that the developer is es in Desa ParkCity, thus making the exploring the development of inde- township a vibrant place, the devel- pendent living units that cater to the oper had created a 43-acre central elderly by off ering care and medical park, a sports centre and a 150,000 sq services while not isolating them from ft waterfront commercial hub. the multi-generational community. The central park has now become Au (left) and Lee He concurred that the biggest chal- one of the most popular chill-out plac- at the Breakfast lenge is public perception of elderly es in town, including for pet lovers Chat session. homes or retirement homes. He be- who frequently visit the pet-friend- lieves this negative perception will ly park. come earners’ affordability. Howev- He explained that housing prices The attendees change as the family household size “We designed it as a pet-friendly er, this should not deter them from will continue to rise in tandem with having a quick chat gets smaller. park. Surprisingly, 70% of pet owners considering to buy a property in Desa the rise in construction costs and land with Lee after the “Think about this, what if you work who visit the park are not Desa Park- ParkCity, he said. scarcity, especially in city centres. Al- session. overseas but your parents are sick and City residents. Some even come from In a high housing price environ- though price growth has slowed down need someone to take care of them? as far as Rawang,” he said. ment, especially for established town- recently, it will defi nitely climb in the Wouldn’t it be ideal if they are living Indeed, the lively community park ships, Lee said the “buy low sell high” next boom period, he added. in a place where their needs are well is among the main draws for both vis- theory is no more applicable. taken care of? itors and homebuyers. However, Lee “Focus on the potential capital Upcoming at Desa ParkCity “I’m not sure about the market de- admitted that as demand for houses appreciation rather than the current In the near term, Desa ParkCity is mand now, but as the aging popula- increase, Desa ParkCity’s housing price. Buyers should then aim to buy planning to launch another high-rise tion increases, it will be there soon,” prices have exceeded most middle-in- high and sell higher!” he emphasised. residential project which is targeted he said.

TEP 8 FRIDAY NOVEMBER 11, 2016 • THEEDGE FINANCIAL DAILY COVER STORY

SUHAIMI YUSUF / TheEdgeProperty.com

and is a property develop- er’s most important asset as it enables the develop- er to sustain and grow its KUALA LUMPUR business. However, land is a limited resource. L“Land does not give birth to an- other land. This is the simplest rea- son that explains the constant rise in BY RACHEL CHEW land prices land prices especially those in prime areas such as Kuala Lumpur,” says CBD Properties (DU) Sdn Bhd senior real estate negotiator Davis Cheng. As a negotiator specialising in resi- HOLDING STEADY dential land deals in the Ampang area in Kuala Lumpur, Cheng says Kuala Lumpur’s land prices have generally been holding up despite the overall property market slowdown since two years ago. “Prices of vacant residential land in Ampang Hilir, for example, are hovering around the level of RM1,000 psf. However, prices could vary de- pending on various factors such as the surrounding construction, plot size, location and other factors,” Cheng notes. While prices are holding steady, transactions have slowed significant- ly since the beginning of this year. “My team and I closed fewer land deals in 2015 and the situation has become worse this year. We closed even fewer land deals in 2016, and each deal took us a longer time to conclude, mostly because landown- ers are maintaining their prices while developers are not buying land as aggressively as last year,” Cheng ex- plains. His observation of the Ampang Hilir land market is in line with the overall Kuala Lumpur land market segment performance. According to data collated by Knight Frank Malaysia, Kuala Lum- pur recorded fewer land transactions but the total transacted value was higher in 2015 than 2014. In 2015, there were a total of 383 development land transactions valued at RM6.04 billion compared with 410 transac- tions with a corresponding value of RM4.22 billion in 2014. “Despite recording a lower volume of transactions in 2015, the value of transactions was significantly higher by 43.11%,” says Knight Frank Ma- laysia managing director Sarkunan Subramaniam.

Kuala Lumpur land transaction volume

600 528

500 519 410 383 400

383 Kuala Lumpur land 300

market performance 200

189 100 2011 2012 2013 2014 2015 2016 1H FRIDAY NOVEMBER 11, 2016 • THEEDGE FINANCIAL DAILY TEP 9 COVER STORY

KENNY YAP / TheEdgeProperty.com Kuala Lumpur “With the current supply and FOR demand mismatch in key property sectors such as the office, retail and LANDS serviced apartment or high-end condominium sectors in selected on locations within Kuala Lumpur, coupled with restricted approvals TheEdgeProperty.com to develop new hotels, luxury hotels as at Nov 4 and office developments, buyers are not buying for immediate de- SOURCE FROM NAPIC + TheEdgeProperty.com velopments hence the slowdown in transaction volume,” he says, adding that investors or developers are now buying for landbanking. Meanwhile, the higher value of transactions is a reflection of the high land prices which have been holding up strong. “Land is necessary for property Sarkunan: The land market looks Mun: Developers and individual buyers are development and so many land- challenging in the short term in line with adopting a cautious approach. owners will hold on to their selling the overall property market. Old Klang Road (Taman Yarl) plan to maximise their investment,” he says. the city centre,” Mun notes. However, Sarkunan adds that the She says developers and individ- Land size 58,706 sq ft Selling points land market looks challenging in the ual buyers are adopting a cautious (1.3 acres) • Land zoned for short term in line with the overall approach and will be evaluating Land title Residential low-rise development property market. Nevertheless, he land proposals more stringently. Tenure Freehold • Direct access from believes there are many good buy- “They [developers] may opt to Asking RM10.5 mil main road ing opportunities out there. wait for vendors to agree with their (RM179 psf) “Th ere are developers who are ac- offer prices instead of commit- tively seeking to increase their land- ting at vendors’ asking prices,” she bank but on the other hand there are shares. owners who are looking to sell (land) She is also expecting the placid to pare down debts,” he says. market to persist in 2017. “The cur- With the current challenging rent high land price is a restraint to market environment, price growth price growth and we expect some will likely be capped in the short price adjustments in the short to term, he offers. medium term.” “This is because construction Meanwhile, CBD Properties’ cost continues to remain high while Cheng reminds landowners to be Ampang the projected gross development Cheng reminds landowners to be aware that aware that it is a buyers’ market value may be lower due to the cur- it is a buyers’ market now. now. Land size 19,144 sq ft Selling points rent mismatch in supply and de- “Buyers have more choices and (0.4 acre) • Two adjoining lands, one mand. All these factors will likely “Prices of land on the fringes are not rushing to buy. I have seen Land title Residential plot vacant and other weigh on the decision-making of of the city centre such as in the many landowners refusing to low- Tenure Leasehold with bungalow house investors and developers when ex- Kuchai area near Old Klang Road er their asking prices until they are Asking RM9 mil • Located next to Ampang ploring land purchases,” he says. are around RM500 psf while in the pressured to do so. They will usual- (RM470 psf) Point Shopping Centre He adds that investors and de- Sungai Besi and Chan Sow Lin ar- ly wait until the surrounding land velopers would need to have “deep eas, they are in the range of RM400 are sold or when they start seeing pockets” to be able to hold their to RM450 psf,” Mun shares. their site being surrounded by con- land during a downturn for future Prices, she said, are still stable struction work. By that time, the developments when the market mainly attributed to the already value of the land may be affected. picks up. high prices recorded over the past Some land have odd sizes and this few years. will also dampen the price of the Limited room for price growth “In addition, the current weak plot of land,” he says. According to real estate agency One market sentiment for luxury high- Be it for individuals looking to Sunterra Properties executive di- end developments in the city centre buy small plots of residential land rector Lydia Mun, prices of prime has somewhat hindered developers to build a bungalow or two, or for Old Klang Road land in Kuala Lumpur city centre from venturing into more of such property developers eyeing larger are within the range of RM2,000 to developments for now, thus lower- plots, it is probably time to practise RM3,000 psf on average. ing the current demand for land in their bargaining skills. Land size 17,478 sq ft Selling points (0.4 acre) • Panoramic view of Land title Residential Kuala Lumpur city Tenure Freehold • Close to MidValley Asking RM5.8 mil (RM332 psf) Kuala Lumpur land transaction value (RM billion)

7 6.04 6

5

3.67 4.22 4 Jalan Jelatek Jalan Nipah

3 3.51 Land size 87,120 sq ft Selling points Land size 296,200 sq ft Selling points (2 acres) • Frontage of Jalan Jelatek (6.8 acres) • KLCC view 2 2.46 Land title Residential • Located between station LRT Land title Residential • Suitable for high -rise Tenure Leasehold Jelatek and Setiawangsa Tenure Freehold 1.78 development 1 Asking RM61.42 mil Asking RM296 mil 2011 2012 2013 2014 2015 2016 (RM705 psf) 1H (RM1,000 psf) TEP 10 FRIDAY NOVEMBER 11, 2016 • THEEDGE FINANCIAL DAILY

BY LUM KA KAY

he Edge Malaysia Property Excellence Celebrating the Awards 2016 (TEPEA 2016) gala dinner, which was held at the Hilton Kuala Lumpur property development Ton Oct 31, saw more than 450 in- dustry players and experts gather- ing to celebrate the industry’s best. industry’s best From a simple awards ceremony over lunch in 2003, TEPEA has since grown into an annual, full-fl edged black tie gala dinner befi tting the occasion which honours and recog- nises top property developers and exceptional projects in the country. “We launched the awards in 2003 to recognise the country’s top prop- erty developers who have shown consistent fi nancial strength and delivered quality products to their customers to be used as a home or as an investment asset. “Th e industry is going through a challenging period, there is no doubt about that. But just as good times do not last forever, neither do the bad times. And as the saying goes, when the going gets tough, the tough get going,” said Th e Edge Media Group publisher and group CEO Ho Kay Tat in his speech at the The Edge Malaysia Property Excellence Awards has grown into an annual, full-fl edged black tie gala dinner befi tting the occasion which honours and recognises top property awards night. developers and exceptional projects in the country.

SAM FONG / TheEdgeProperty.com MOHD IZWAN MOHD NAZAM / TheEdgeProperty.com

S P Setia president and CEO Datuk Khor Chap Jen (second from left) receiving the Top Property Developers Awards trophy from Ho (left), while Au (second from right) and Poh (right) look on. Ho delivering his welcome speech.

TOP 10 TOP 11 – 3300

1 S P Setia Bhd 11 IOI Properties Group Bhd 21 KSL Holdings Bhd 2 IJM Land Bhd (N) 12 Tropicana Corp Bhd 22 Wing Tai Malaysia Bhd 3 Sunway Bhd 13 Eastern & Oriental Bhd 23 Matrix Concepts Holdings Bhd 4 Sime Darby Property Bhd (N) 14 Paramount Corp Bhd 24 TA Global Bhd 5 Mah Sing Group Bhd 15 MKH Bhd 25 Sunsuria Bhd 6 Eco World Development Group Bhd 16 WCT Land Sdn Bhd (N) 26 YTL Land & Development Bhd 7 UOA Development Bhd 17 Selangor Dredging Bhd 27 Guocoland (Malaysia) Bhd 8 Gamuda Bhd - Property Division (N) 18 OSK Holdings Bhd 28 Hua Yang Bhd 9 IGB Corp Bhd 19 Glomac Bhd 29 SHL Consolidated Bhd 10 UEM Sunrise Bhd 20 Malaysian Resources Corp Bhd 30 I-Bhd

(N) NON-LISTED PROPERTY DEVELOPER FRIDAY NOVEMBER 11, 2016 • THEEDGE FINANCIAL DAILY TEP 11

The top 10 developers of TPDA 2016 with Ho (fi fth from left), Au (seventh from left) and Poh (eighth from left).

Bhd-Property Division (No 8), IGB laysia Property Development Ex- Corp Bhd (No 9) and UEM Sunrise cellence Award. Bhd (No 10). S P Setia subsidiary Bandar Setia UOA Development took home Alam Sdn Bhd’s Seri Kasturi Apart- Th e Best in Quantitative Attributes ment in Bandar Setia Alam bagged title (a TPDA sub-award) while the Th e Edge Malaysia Aff ordable Ur- Best in Qualitative Attributes sub- ban Housing Excellence Award award was won by Sunway. while Sime Darby Property Bhd’s IJM Corp Bhd group CEO SUCI (Phase BA1A) received a spe- and managing director Datuk cial mention. Soam Heng Choon and Gamuda Th e Edge Malaysia-PEPS Value Bhd-Property Division managing Creation Excellence Award, which director Chow Chee Wah were ac- was created in partnership with corded this year’s Th e Edge Ma- the Association of Valuers, Prop- laysia Outstanding Property CEO erty Managers, Estate Agents and Award. Property Consultants in the Pri- Meanwhile, The Edge Malay- vate Sector (PEPS) to recognise sia Outstanding Property Entre- developments that have provided preneur Award was presented to outstanding rewards to their pur- Glomac Bhd’s co-founders — Tan chasers in terms of capital appre- Sri FD Mansor and group execu- ciation, was won by Paramount tive vice-chairman Datuk Richard Property Development Sdn Bhd’s Fong Loong Tuck. Pangsapuri Kemuning Aman and SHAHRIN YAHYA/THE EDGE A new award at TEPEA 2016, Sime Darby USJ Development Sdn Team Setia — winner of The Th e Edge Malaysia Pioneer Devel- Bhd’s Avani at Bandar Bukit Raja Edge Malaysia Top Property opment Award, which recognises in the residential category. Metro Developers Awards 2016. innovators in the property industry KL City Sdn Bhd’s Parcel G @ Pel- whose development concepts in- angi Seri Alam and Gamuda Land itiated new trends in the property (Botanic) Sdn Bhd’s Enya, Ambang fi eld, went to Sime Darby Property’s Botanic 2 each received a merit in S P Setia’s back on top Subang Jaya and Tropicana Corp the same category. Gamuda Land TEPEA is anchored by Th e Edge Bhd’s Tropicana Golf & Country (Kemuning) Sdn Bhd’s Gamuda Biz Malaysia Top Property Developers Resort. Suites also received a merit in the Awards (TPDA) which saw S P Se- “Tropicana Golf & Country non-residential category. tia Bhd taking the top spot for the Resort has maintained a thriving Th e Edge Malaysia-PAM Green ninth time, bouncing back from community of residents, golfers Excellence Award, which was joint- fourth and third place in 2015 and and commercial enterprises up ly created with Pertubuhan Arkitek 2014, respectively. till today since the 1997/98 fi nan- Malaysia (PAM), was won by Sime Retaining its second place this cial crisis. Darby Ara Damansara Develop- year was IJM Land Bhd followed “Meanwhile, Subang Jaya is the ment Sdn Bhd’s Masjid Ara Da- Soam (middle) and Chow (second from right), recipients of The Edge Malaysia by Sunway Bhd which was the No country’s fi rst mass township devel- mansara and Edusar Resources Outstanding Property CEO Award, with Ho (left), Au (second from left) and Poh (right). 1 developer last year. opment, which enabled thousands Sdn Bhd’s University College of In fourth position was Sime from the baby boomer generation Technology and Tech- Darby Property Bhd having fall- to own their fi rst home in the late nology Park. “Apart from the awards for com- owners, the CEOs and their team,” en one spot behind its third place 1970s and early 1980s,” said Ho in TEPEA 2016 was presented by panies, we also have the personali- said Ho. last year. Mah Sing Group Bhd re- his citations for the winning de- City & Country, the weekly prop- ty awards to recognise exceptional Also on hand to give out the mained at No 5. velopments. erty pullout of Th e Edge Malaysia, leadership and performance — the awards were TheEdgeProperty. Making its debut among the top Malaysian Resources Corp Bhd’s and supported by Th eEdgeProp- outstanding real estate entrepreneurs com managing director and edi- 10 was Eco World Development Kuala Lumpur Sentral CBD, IJM erty.com. Partners for this year’s and outstanding professional CEOs. tor-in-chief Au Foong Yee and Th e Group Bhd at No 6. Making up Land’s Seremban 2 and Eastern event were Jotun Paints Malaysia, “Behind the bricks and mor- Edge Malaysia’s City & Country the top 10 in 2016 were UOA De- & Oriental Bhd’s Seri Tanjung USG Boral Malaysia and Volvo Car tar are real people, the business pullout editor Rosalynn Poh. velopment Bhd (No 7), Gamuda Pinang each won Th e Edge Ma- Malaysia. TEP 12 FRIDAY NOVEMBER 11, 2016 • THEEDGE FINANCIAL DAILY

S P Setia gears up for more launches in 2017

BY NATALIE KHOO developments, accessibility and sus- tainability remain the company’s top An artist’s P Setia Bhd is back strong- priorities. impression er than ever as the No 1 “We have and will invest in devel- of KL Eco property developer in the oping the infrastructure before the City in the country. Having clinched residents move in to the development. evening. the top spot eight times We had spent RM80 million to build in The Edge Malaysia Top the interchange connecting Setia Eco SProperty Developers Awards (TPDA) Hill in Semenyih to the Kajang-Ser- ranking since 2003, it made a come- emban Highway, RM250 million for back and grabbed the top spot once the Setia Alam-New Klang Valley Ex- again in 2016, bouncing back from pressway (NKVE) highway link con- fourth and third placing in 2015 and necting Setia Alam to the NKVE and 2014 respectively. Jalan Meru, Klang. No other developer has yet to break “At Setia Eco Glades in Cyberjaya, this record since the inception of the we already have our own dedicated TPDA, which is the anchor award of interchange to Lingkaran , The Edge Malaysia Property Excel- which provides quick access to the Maju lence Awards. The group has its pres- Expressway and the North-South Ex- ence in three key economic domains pressway Central Link highway. Mean- RM71.5 billion in gross development of Malaysia, namely the Klang Valley, while, , Setia’s maiden project value. Johor Bahru and Penang, besides a in will boast four fl yovers, which “At the same time, we recognise project in Sabah. On the international are part of the traffi c dispersal scheme that this is an opportune time to re- front, they have projects in Vietnam, built and funded by us,” he says. plenish our landbank, thus we are Australia, Singapore, China and the He adds that S P Setia also con- aggressively on the lookout for land United Kingdom. stantly strives to deliver products of to acquire both locally and interna- “We are elated to be ranked Ma- good quality and on time if not ahead, tionally,” says Khor. laysia’s No 1 property developer. Our citing Parque Melbourne, Setia’s sec- He adds that the group will contin- victory is attributed to the strong team ond project in Melbourne, which will ue to launch landed and affordable work that is the hallmark of Setia’s cul- be completed mid this month, two properties to suit the current market ture as well as the breadth of our ex- months ahead of schedule. demand. It will also launch niche pertise and experience ranging from On top of all that, the developer products for the underserved market eco-townships to integrated develop- also takes steps to build and sustain in specific locations. The Malaysian ments, niche developments, landed or the communities by providing plat- market can expect new launches from high-rise residences, and aff ordable forms for the townships to grow. Just the Setia Eco series such as Setia Eco properties,” shares S P Setia president last week, S P Setia unveiled the new Park, Setia Eco Templer and Setia and CEO Datuk Khor Chap Jen with extension to Setia City Convention Eco Glades. Th eEdgeProperty.com. Centre, which is anticipated to bring Setia EcoHill 2 is amenities such as recreational parks,” It will also be launching Trio by Set- Despite the soft property market, additional footfall to the township and one of S P Setia’s Khor shares. ia, an integrated development which is Khor says the group has planned its add to the vibrancy of the commercial latest eco township Th is year, S P Setia launched Citizen located in front of the light rail transit launches strategically based on the precinct in Setia Alam. surrounded by vast Setia, an exclusive platform which re- transportation hub in Klang, while over location of each development and The group also provides assistance landscaping. wards all the company’s existing pur- in Melbourne, Australia, it is looking at the needs of the communities in the to the communities in its townships chasers with elite lifestyle experiences launching two new projects. surrounding areas. to establish residents associations, such as travelling, gardening, musicals “We believe the property market As demand for mid-range landed organise communal activities such and fi rst movie screenings. will continue to be challenging in 2017. properties and affordable housing as festive celebrations, recycling, “It is our way of engaging with our However, we are prepared to meet remains strong in the current chal- kids’ events and sports throughout existing customers and to thank them the challenges with strategic product lenging environment, the developer the year. It also focuses on providing for their unwavering support,” he says. launches that will suit market demand has focused on meeting these needs. The group is gearing up for more that refl ect the underlying interest in “We have our townships which is project launches next year. As at June good quality products in strategic lo- our bread and butter, to cater to these 30, the group has 29 ongoing projects cations as well as niche projects that demands,” adds Khor. and 3,805 acres in undeveloped land- cater to the various underserved mar- “For example, earlier this year, we bank remaining with an estimated kets,” Khor concludes. launched Eco Templer in Selayang as we saw the increased demand for eco-living lifestyle landed properties within the Selayang catchment. Sim- ilarly, we’d launched ViiA Residences at KL Eco City in view of the growing demand for integrated urban living. “Over at Seputeh, we saw the under- Khor emphasises lying demand for premium high-rise that in all their living in this mature neighbourhood developments, Setia Sky and that led to the launch of Setia Sky accessibility and Seputeh’s Seputeh. Sky Seputeh’s concept is akin sustainability concept to living in a semi-detached house or remain the is akin to bungalow in the sky,” Khor explains. company’s top living in a Khor emphasises that in all their priorities. semi- detached house or bungalow in the sky. FRIDAY NOVEMBER 11, 2016 • THEEDGE FINANCIAL DAILY TEP 13 TEP 14 FRIDAY NOVEMBER 11, 2016 • THEEDGE FINANCIAL DAILY

BY NATALIE KHOO ah Sing Group Bhd Mah Sing aims to is no stranger to The Edge Malaysia Proper- ty Excellence Awards (TEPEA), having been deliver quality products ranked among the Top M10 in the Top Property Developers Awards since 2010. From a plastic trading firm in 1965, the group has certainly come a long way into be- coming one of the most reputable property developers in the nation with a varied portfolio of residential and commercial developments. This year, Mah Sing maintained its fifth placing in the Top Property Develop- ers Awards 2016 ranking, the anchor award of the TEPEA. In an e-mail interview with Th- eEdgeProperty.com, Mah Sing group managing director, Tan Sri Leong Hoy Kum says the group is very hon- oured to be placed among the Top 10 companies. The award, he says, is a testament to its promise to provide its customers with excellent quality products, prompt delivery and flex- ible services through their uncom- promising commitment towards total customer satisfaction. “As a market-driven developer, we work towards meeting the needs and demands of our end-users. This is one of the factors that has further built our buyers’ trust and confidence in our brand. This award is also made possible thanks to the passionate and dedicated Mah Sing team who tire- lessly contributes time and effort to deliver quality products. The team members are the backbone of the company, and it is thanks to their hard work that the company is successful today,” Leong shares. Noting that this year has been chal- Nasional to make homes more acces- An aerial view of in line with market demand, we are lenging for the property market, Mah sible to young married couples. Cou- the Meridin East also actively pursuing sales from our Sing, which has a solid foundation ples who are eligible will be entitled township in Pasir existing projects,” says Leong. built over 22 years, has ensured that up to 100% financing for home loans Gudang, Johor. Leong notes that in the upcoming the group has the flexibility to be re- between RM100,000 and RM500,000. 12 months, it is important to deliver sponsive to market conditions. Successful applicants will also receive the right product at the right timing “2016 has been a challenging year additional financing of up to 5% of the to the right market. with the tight lending environment and purchase price for the cost of Mort- “For the coming 12 months, demand high loan rejection rate. However, there gage Reducing Term Assurance or will continue to be strong from those are also measures taken such as the Mortgage Reducing Term Takaful,” who are buying to own or to invest for interest rate cut that lifted sentiments Leong explains. long-term rental income. Property is towards 2H2016,” says Leong. “On top of that, we have also collab- Leong: As a market- still one of the best hedges against in- Mah Sing also collaborated with orated with RAM Credit Information driven developer, fl ation and is one of the most preferred other parties to help first-time home- Sdn Bhd (RAMCI) and Perbadanan we work towards asset classes for wealth preservation in buyers own a home. “During our Cer- Tabung Pendidikan Tinggi Nasional meeting the needs Malaysia,” he opines. rado Residential Suites launch, we (PTPTN). RAMCI assisted potential and demands of our In addition, Leong believes the fo- collaborated with Bank Simpanan buyers with their credit check, which end-users. cus on affordable homes for the mass market will continue in 2017. “Despite the challenging market helped speed up mortgage applications condition, the group remains confi- An artist’s impression of and approvals by end fi nanciers; while dent of delivering sustainable perfor- D’Sara Sentral. PTPTN was able to address buyers’ mance for the financial year, support- enquiries on outstanding balances of ed by a solid track record, established education loans and loan restructuring branding and right market position- alternatives to ease eligibility for mort- ing, as well as prudent financial dis- gage approval,” Leong adds. cipline and healthy liquidity profile. Mah Sing’s stable of projects to be Furthermore, the group has a strong launched next year include the Me- portfolio of 46 projects of which 13 ridin East township in Pasir Gudang are completed and the remaining 33 with aff ordable landed homes, indica- are at various stages to sustain our tively priced from RM350,000; Cerrado growth,” Leong adds. Residential Suites Tower C and Tower Mah Sing has supported the mar- D, Southville City @ KL South, indica- ket’s needs for affordable housing with tively priced from RM400,000; the fi nal 89% of the group’s planned residential tower of D’sara Sentral, Sungai Buloh, launches priced below RM1 million, indicatively priced from RM603,000; 68% priced below RM700,000 and 50% the second phase of Caspia, M Resi- priced below RM500,000. dence 2 @ Rawang, indicatively priced “The group will continue to focus from RM743,800; and apartments in M on end-user demand for beginner Cahaya, Subang Bestari, indicatively homes, driven by young demographic, priced below RM500,000. continuing new household formation “While the group carefully times and stable labour market conditions,” its launches to ensure products are Leong concludes.

TEP 16 FRIDAY NOVEMBER 11, 2016 • THEEDGE FINANCIAL DAILY FUTURE & BEYOND

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

Building a When the earth sustainable temperature increases by °C °C Arctic Coral future +1 ice melts +2 reefs die °C °C Amazon Coastal cities could PATRICK GOH | TheEdgeProperty.com rainforests dry out +4 get flooded he “Global Climate a building to reduce indoor pol- +3 Change” report by the lutants. This makes “green paints” A global National Aeronautics the future trend for new or exist- °C Climate °C wipe out and Space Adminis- ing buildings. refugees could tration (Nasa) states The use of these “green paints” increase +6 that the current global or low VOC coatings could elim- +5 happen Twarming trend is very likely hu- inate potential health hazards man-induced and proceeding at and improve indoor living envi- an unprecedented rate. This will ronments, Zulhemlee explains. cause a breakdown in biodiversity Tan says paints and coatings GREEN BUILDINGS can reduce and the natural ecosystem. are essential finishes for most 2 “Th e rising earth temperature types of buildings and is consid- ENERGY CO WATER SOLID will set off a dangerous chain re- ered a “low-lying fruit item” for USE EMISSIONS USE WASTE action to our ecosystems such building owners or users should as dying coral reefs and melting they want to live and work in a Zulhemlee: Simple passive strategy 24% Arctic/Antarctic ice which could greener building. can help improve living environment. -50% fl ood and eventually submerge “The cost is not prohibitive and 33% SAM FONG | TheEdgeProperty.com -39% many coastal cities due to rising generally it is the lowest-cost item 40% sea levels,” says Green Building compared with many other green Index Accreditation Panel (GBIAP) solutions. Thus it is imperative chairman Chan Seong Aun. that one should select low VOC 70% On the other hand, develop- paints that are much healthier for ment advancement seems inev- internal areas,” he adds. itable, as the growing urban pop- With its emphasis on innova- 170.8 ulation demands housing, offices, tive coating technologies to meet MIL SQ FT infrastructure and amenities. market needs, Nippon Paint Ma- Sept 2016 Principal of DrTanLM Archi- laysia has come up with smart, de- Total gross floor area tect and director of ArchiCentre sign and health solutions to serve Sdn Bhd Dr Tan Loke Mun says multi-segments of consumers in- (GFA) of GBI-certified the global population currently cluding low-VOC green coatings 150 projects is increasing stands at seven billion, and mass that have no added mercury and migration from rural to urban lead. It marks several industry MIL SQ FT areas is raising the requirements firsts with its low VOC range as Tan: Green buildings help to reduce Sept 2015 for new developments. they also contain anti-viral prop- energy, water and utility expenses. “The infrastructure of some cit- erties and formaldehyde abate- ies is probably stretched to their ment abilities. MOHD IZWAN MOHD NAZAM | TheEdgeProperty.com More Malaysian property projects limits. This is why buildings and On external paints and coat- cities need to be ‘reinvented’ to ings, Tan suggests lighter colours are going for GBI be more sustainable and green,” or those with solar reflection and he propounds. solar heat reduction. GBI-certified projects by categories He acknowledges that consum- categories total as of total as of ers are more environmentally-con- Lowering costs in the long run scious today and more people are “Green buildings not only help sept 2016 sept 2015 choosing homes that are green-cer- reduce energy and water con- Application 758 689 tifi ed and energy-effi cient. sumption but also in lowering Certified 367 324 “Especially when energy, wa- utility expenses,” Tan points out. ter, transport and other basic util- Although green buildings ities have become more costly, might incur higher building cost people tend to look for ways to cut due to the usage of green mate- tions from residential, commercial, “The objective is to encourage down these expenses,” says Tan. rials as well as cost on certifica- industrial and township develop- all buildings to adopt green fea- Th e Malaysian Institute of Archi- tion, Tan says the growing aware- Chan: The number of applications and ments, up by 69 cases compared tures, even if the client does not tects president Mohd Zulhemlee ness and increase in demand for certifi cations for Malaysia’s GBI keeps with the same period last year. apply for certification. The gov- An says the cost of electricity and eco-friendly and green products increasing. Selangor and Kuala Lumpur ernment should take the lead by water in Malaysia may be cheaper have reduced the cost considera- are the states with the highest ap- making it mandatory for all gov- compared to neighbouring coun- bly over the past few years. ings will help to conserve and pro- plications, totalling 255 and 221 ernment buildings to be certified tries, but this will not last forever. “Many who were initially de- tect the environment for the fu- respectively, followed by Penang green,” he proposes. “Therefore, homebuyers must terred by the early pioneering ture generations. That’s the main with 67 cases. Green efforts shouldn’t be lim- be educated as to why we have to cost of going green should ac- thing,” he says. The total number of GBI-certi- ited to only the property develop- be environmentally-conscious tually re-visit this exercise. They In the Malaysian building sec- fied properties during this period ment or construction sectors. For and make the right purchase de- may be pleasantly surprised by tor, the experts concur that Ma- increased to 367 cases, from 324 the sake of our future, every stake- cisions,” he adds. how much more affordable some laysia is making good progress in cases over the same period the holder including buyers, should green technologies and materi- the adoption of green initiatives. previous year. also play a part in promoting and Sustainable design strategies als have become, such as solar “Even though we started about “Currently, Malaysia has adopting environmentally-friend- Zulhemlee says simple passive PV (photovoltaics) panels, low nine years ago, we have now be- achieved 170.8 million sq ft of ly initiatives. design strategies can help im- VOC paints, double and low-E come one of the leaders in South- green building spaces and the prove the living environment glazing,” he adds. east Asia in the green building number is increasing every year,” such as smart interior design and Zulhemlee says cost may seem movement,” says Zulhemlee. he adds. IN COLLABORATION WITH eco-friendly paints or coatings. higher in the short term, but in GBIAP’s Chan notes the num- Looking forward, Zulhemlee One of the most important cri- view of the long-term maintenance ber of applications and certifica- suggests that the concept of “going teria in the Green Building Index of the building, the additional cost tions for Malaysia’s GBI status has green” should be extended, for in- (GBI) rating is the use of low vol- of going green is an investment increased over the years. stance, to existing uncertifi ed build- atile organic compound (VOC) that is worth considering. In the fi rst nine months of 2016, ings that could be upgraded to meet paints and coatings throughout “In the long term, green build- GBIAP has received 758 applica- the requirements and be certifi ed.

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