R OCT IS M 8.5 S U E 0 2 / 0 1 S 52 1 $ 7 8 9 771823 872006 10

Managing Editor CEO’S FOREWORD Roshan Kaur Sandhu Writers Reena Kaur Bhatt Mira Soyza & iProperty.com.my Editorial Coordinators Nur Alia Ahamd Tamezi moving forward, together. Intumathy Nadarajah

Head of Creatives What a last couple of months it’s been for Malaysia. Angeline Lim Senior Graphic Designers The International Monetary Fund (IMF) revised its 2017 Wing Wong growth forecast for Malaysia upwards to 4.8%, driven Jason Kwong by favourable economic data and monetary policy. Junior Graphic Designer We saw Bursa Malaysia Property Index return to 12.3% Rechean Soong this year (as of 9th August), outperforming the broad market FTSE Bursa Malaysia KLCI by about 2%. CEO REA Group - Asia Henry Ruiz And in a recent report, Bloomberg acknowledged the CEO - REA Group Malaysia & Singapore Ringgit was the most stable Asian currency during the Haresh Khoobchandani second half of 2017. Consumer spending also increased General Manager (Marketing) by 7.1% for the same period. These are certainly exciting Wong Siew Lai times for us. It also got me asking, “With all these feel General Manager (Agent Sales) good indicators coming our way, what do real estate agents, developers and consumers Leon Kong want from Budget 2018, which the government will table in Parliament on 27 October?” General Manager (Developer Sales) Sean Liew For me, the answer is, more of the same please. General Manager (Data Services) Premendran Pathmanathan In Budget 2017, the Government introduced a raft of measures to support home Group Regional Finance Director Esther Monks ownership and improve the property industry. The Budget included various incentives Head of Media Sales & Ad Ops and relief measures that relate not only to the real estate and property sector, but Martin Goh also to industries that support it, or thrive because of it. There are already many infrastructure projects that the Government has implemented following Budget 2017, Head of iProperty TV which spurred further development and have had positive spill-over effects. The Jonathan Ong development of LRT and MRT lines as well as new highways that have extended beyond General Manager (Sales & Marketing) Greater KL has provided the opportunity for property development to grow and iProperty.com Singapore flourish beyond the area. Vincent Sim Head of Marketing & Content, iProperty.com Singapore The implementation of the new 600km East Coast Rail Line connecting Klang Valley Leslie Lin to the East Coast as well as the upgrading and developing of 616km roads and bridges in villages, towns and cities across the country will also help improve connectivity and foster urbanization. Future infrastructure additions such as the High-Speed Rail together with the Mass Rapid Transit (MRT) and Light Rail Transit (LRT) line extensions iProperty.com Malaysia Sdn Bhd (600850-K) will continue to be a stimulus to the economy as travelling long distance becomes the Suite 11.01, Level 11 Menara IGB norm. It is therefore no surprise that in a recent report, KPMG ranked Malaysia as the Mid Valley City, Lingkaran Syed Putra best place to purchase property in the world. 59200 Kuala Lumpur, Malaysia Phone: (603) 2264 6888 Fax: (603) 2264 6900 These factors drive REA Group’s confidence in Malaysia and we remain committed to Sales enquiries: [email protected] invest in people and technology in the region to support the long-term objective to Editorial matters: [email protected] General enquiries: [email protected] deliver unique and seamless experience across all platforms, regardless of where you Subscription: [email protected] are in your property journey. Our vision is to change the way Malaysia experiences International Property: [email protected] property and help you make your property decisions, simple, efficient and stress-free. iProperty.com Malaysia Sdn Bhd (Johor) A-2-7, Pusat Komercial Bayu Tasek Regardless of what Budget 2018 unveils, I invite you to join us as we move forward, Persiaran Southkey 1, Kota Southkey together. 80150 Bahru, Johor Phone: (607) 300 0013 Sincerely, iProperty.com Malaysia Sdn Bhd (Penang) Bay Avenue D-25-3, Lorong Bayan Indah 2 Bayan Lepas, 11900 Penang Phone: (604) 645 9899 Fax: (604) 611 1599

Disclaimer Although every reasonable care has been taken to ensure the accuracy of the information contained in this publication, neither the publisher, editor nor their employees and agents can be held liable for any errors, inaccuracies and/or omissions, howsoever. We shall not be responsible for any loss or damage, whether direct or indirect, incidental or consequential arising from or in connection with the contents of this publication and shall not accept any liability in relation thereto. The views by our contributors expressed here are their personal opinions and do not necessarily reflect iProperty.com’s views. HARESH KHOOBCHANDANI Unless otherwise noted, all artwork and ad designs printed in iProperty.com Magazine are the sole property of iProperty.com Malaysia Sdn Bhd, and may CEO - REA Group not be reproduced or transmitted in any form, in whole or in part, without the prior written consent of the publisher. Malaysia & Singapore

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Managing Editor’s note Contents This month’s Special issue covers the much talked about , whereby we bring you the latest comments and analysis of this region. With the market constantly changing, it is vital to stay current. For that reason in our iPropertyiQ.com section, we feature home purchasing trends in Iskandar Malaysia with Samuel Tan Executive Director of KGV International Property Consultants sharing his insights. Interestingly, iPropertyiQ data 12 20 revealed that within Greater , and are secondary towns which have always 2 been very popular among the locals CEO’S FOREWORD POINTS OF INTEREST recorded impressive price growths 5 EDITOR’S NOTE 38 Co-working spaces: The real estate model moonlighting as a business of 9.4% and 13.1%. These could be incubator explained by the suburb effect – where locals and city centre folk iPROPERTYiQ.COM 42 How will DSR affect my loan approval? are drawn to the cheaper housing 6 Home purchasing trends in alternatives available in these areas. Iskandar Malaysia To gather a further perspective on Iskandar, Reena Kaur Bhatt caught up with property expert COVER STORY Charles Tan whereby he offered a 12 UMLand: There’s something for few suggestions to help bring the everyone in Iskandar Malaysia best out of the economic region’s potential. You may also be interested in FEATURED PROPERTY 38 Crime Safety Specialist, Shamir 20 IBRACO: A force to be reckoned Rajadurai’s advise on effective with measures to help residents keep themselves and their loved ones safe EVENTS on page 46. INDUSTRY UPDATE 44 WCSC 2017: Transforming cities for a better and sustainable living I believe you will find these pages 22 iProperty.com.my – Reimagined informative. Enjoy the read, till next and refreshed month! 23 REHDA property survey CRIME SAFETY CHECKLIST 24 REHDA homebuyer survey 46 Think like a burglar, act to protect your home

27 HAPPENINGS CONSUMER AWARENESS 50 Exterior wall design ideas SPECIAL FOCUS – Iskandar Malaysia: 52 9 best wardrobe organising ideas The rise and opportunities to steal Roshan Kaur Sandhu 30 Iskandar Malaysia: 10 years on 54 5 tips to help secure your dream rental 34 Concerns over Iskandar Malaysia? Keep calm, Rome wasn’t built in a 56 7 cleaning mistakes that ruin the day taste of food Contents

60 66

RESERCH DATA 57 Johor Bahru real estate highlights 1H2017

POINTS OF INTEREST 60 Iskandar Malaysia’s untapped intricacies

64 Legal and physical due diligence checklist

66 Using the “CHI” triangle 71

68 China’s one belt one road and high speed rail across ASEAN

70 Bukit Bintang City Centre: The heartbeat of Kuala Lumpur EVENTS 71 Greater opportunities in 95 Agent Advertising Awards greater KL (AAA) 2017

EXPERT’S VIEWS AGENT’S ADVICE 72 Straight talk with Dr Daniele 106 Setapak: A diamond in the rough 81 Gambero

AGENT’S VIEWS 120 RESEARCH DATA 108 Metroworld Realty: CLASSIFIEDS 75 Knight Frank global currency On a mission to the top report 2017 128 SUBSCRIPTION 111 SUPERSTAR AGENTS BOOK EXCERPT 81 Make big money via land - Land feasibility study framework (Part 2) REGULARS 114 HOUSE BUYERS’ ASSOCIATION Let’s face it - House prices in INTERNATIONAL SECTION Malaysia are unaffordable 85 INTERNATIONAL NEWS 118 DATO’ JOEY YAP Happenings 5 Yellow Star is a no-no 88 SINGAPORE NEWS Happenings

91 INTERNATIONAL BRIEFS What I wish I knew before I purchased a property Home purchasing trends in Iskandar Malaysia

An analysis of latest transactions, top neighbourhoods and preferred residential products.

- REENA KAUR BHATT

HIGHLIGHTS Kulai • Terrace homes in Skudai, Kulai and showed impressive capital appreciation, recording above average figures of 9.4%, 13.1% and 21.5%, respectively.

• Asking rental yield for apartments appears promising Skudai Pasir Gudang amid a sluggish property market – the top 5 transacted areas provided monthly returns above 5%.

• Properties within the

RM260,000-RM340,000 Source: Google Maps price range were most popular

among purchasers – Which iPropertyiQ.com data showed that terrace homes appeared as the most transacted begs the question, is this product in the landed residential category in Iskandar Malaysia (IM) while apartments the standard for affordable were the preferred product among purchasers of high-rise residential units. properties in IM? For analytical purposes, we will focus on these two products, of which key figures were extracted for the top 5 performing areas within the IM region, for terrace homes and apartments, respectively.

GUIDE • The period of evaluation is from April 2016 - March 2017. • Terrace homes comprise of single, double and triple storey houses. • The price of apartments vary across Johor, in most areas they consist of mid-priced units, ranging between RM150,000-RM300,000. However, apartments in newer areas such as Iskandar Puteri have higher than average selling prices. • The data used to calculate asking median rent are obtained from iProperty.com.my listings. Only monthly rents within the evaluation period are used to determine the median – this final figure is then used to calculate asking rental yields in each area. • The type of properties displayed in the “What were potential purchasers searching for” infographic is based on the search tab category in iProperty.com.my.

6 7 iPROPERTYiQ.COM

TERRACE HOMES Key figures in top 5 areas

Total Median PSF Y-O-Y transaction Asking median Asking rental Area Y-O-Y capital transactions (RM) growth (%) growth (%) rent (RM) yield (%)

Skudai 885 322 9.4 -14 1,500 5.1

Kulai 778 267 13.1 -23.3 1,100 4.7

Pasir Gudang 697 240 21.5 -25.8 1,100 5.5

Iskandar Puteri 659 388 -0.7 2.8 2,300 5.5

Tebrau 598 340 4.8 0.2 1,500 3.9

Source: iPropertyiQ.com

Save for Iskandar Puteri which will inevitably influence the secondary property prices are still adapting to suffered a slight drop of 0.7%, the other market and pull up its prices as well. market movements. Hence, the slight areas performed remarkably well in Tebrau is a very mature area – drop in property values is not alarming. terms of year on year (y-o-y) capital property prices there have been The rental yields ranging between growth. This positive trend is contrary increasing steadily since 2014. It’s boom 3.9% to 5.5% are commendable and to the public’s perception that property period kicked in earlier compared to appear attractive to investors as the prices are devaluing, says Samuel Tan. other areas - hence, the smaller growth returns are similar or higher than the Skudai and Kulai are secondary rate of 4.8% in the recent year. On the current fixed deposit rates. In light towns within Greater Johor Bahru other hand, being a greenfield or new of economic hiccups and market and have always been very popular development, Iskandar Puteri is still fluctuations, these healthy yield rates among the locals. Price growths of in its ‘teething stages’ – with newly testify that real estate remains as a 9.4% and 13.1% are not unreasonable completed units coming onstream, good investment vehicle. and could be explained by the suburb effect – where locals and city centre Top 3 projects in each area

folk are drawn to the cheaper housing Area Project/Neighbourhood Transactions Median PSF (RM) alternatives available in these areas. 180 345 Meanwhile, the substantial Skudai Taman 95 366 appreciation of 21.5% seen in Pasir Taman Skudai Baru 94 324 Gudang is mainly attributed to the Bandar Putra 156 284 mushrooming of new developments Kulai Taman Puteri Kulai 109 230 in the area, particularly the Eco Pulai Jaya 73 287 Tropics project by EcoWorld and Mah Taman 235 234 Sing’s Meridin East township. These Pasir Gudang 177 247 developers are offering housing concepts and products that are fresh Taman Pasir Putih 53 305 and new to the region, at higher-than Taman 279 430 average price points – a lake garden Iskandar Puteri Taman Nusa Bestari 2 54 460 community with Meridin East and Taman Nusa Bayu 49 376 Eco Tropics will be the first gated and Taman 148 355 guarded development in the Kota Masai Tebrau 128 340 area. These ‘new kids on the block’ Taman Mount Austin 71 308

Source: iPropertyiQ.com

Samuel notes one common thread that runs across all these schemes - they are self-contained townships or something similar. Zooming into Iskandar Puteri, the top 3 neighbourhoods - Bukit Indah, Nusa Bestari 2 and Nusa Bayu are commanding robust median prices in the range of RM376-RM460 per sq ft. This is attributed to their proximity to the Woodlands Causeway and the Tuas Second Link, a boon for those who commute daily to Singapore for work. In addition, these residential enclaves are complemented by various supporting infrastructure and amenities – from banks to clinic and grocery stores. Despite their higher than average median SAMUEL TAN prices, convenience is the main driver for the huge demand for properties there. Executive Director Meanwhile, housing units in the other 4 suburbs offer good value for money deals. KGV International Property Consultants Good connectivity links to the JB city centre is a main selling point too.

6 7 What were people buying?

Preferred built-up sizes (Sq Ft) The three most popular sizes for accommodate 3 to 4 bedrooms with terrace homes were: at least 2 bathrooms, making it very 3.9% 1) 750-1,000 sq ft suitable for the average Johorean Traditionally, these are single- household, consisting of 6-8 people. 11.6% storey terrace homes which can Newly completed units of this size will accommodate at least 2 bedrooms cost roughly RM400,000 in an average 34.7% and possibly an en-suite room cum area whereas those more strategically 12.5% study room. Units at the end of the located will bear higher price tags. spectrum, i.e measuring 1,000 sq ft 3) 1,251 to 1,500 sq ft should be able to house 3 comfortably Properties in this category are basically 14.8% sized bedrooms. Homes of these sizes large single-storey terrace homes or 21.3% are popular among small families and more compact double storey terrace first-time home owners due to the units. Again, their popularity is due to affordable entry point. Some of the the affordable factor. Nevertheless,

501-750 sq ft 751-1,000 sq ft government-driven schemes such as developers are no longer constructing PRIMA fall within this size range too. homes within this price range, hence 1,001-1,250 sq ft 1,251-1,500 sq ft 2) 1,501 – 2,000 sq ft transacted sales moving forwards will 1,501-2,000 sq ft 2,001-2,500 sq ft These are typically double-storey only occur in the secondary market. terrace homes and can comfortably

Preferred price ranges (RM)

2.4% 2.6% More than a quarter or 26.3% of double storey terrace home in the transactions occurred in the the suburbs are already going for 5.3% RM260,000 and RM370,000 category. RM450,000 and above, with deluxe 6.2% As defined by Bank Negara Malaysia offerings priced beyond RM1 million. 26.3% (BNM) these are considered as You get what you pay for – which is affordable housing. When compared why these homes are desirable to those 12.5% against the median household income who could afford them as they offer of Johoreans, most can afford to quality, comfortable sizes, strategic purchase homes up to this price point. location and quality finishes. Another 20.9% 23.3% Coming in a close second at 23.3% quarter or 29% trended in the price are homes priced above RM470,000. categories not exceeding RM260,000 According to Samuel, these purchases – one can only deduce that these are would have occurred in the larger, for the low and low-medium cost < RM97k RM97k-120k more populous areas like JB. Most houses.

RM120k-160k RM160k-200k

RM200k-260k RM260k-370k

RM370k-470k > RM470k

Source: iPropertyiQ.com

Future trends Within JB, the immediate purchasing trend will be for properties ranging from RM450,000 to RM800,000, shared Samuel. With the stringent loan requirements, however, home buyers must be prepared to cough up more cash for a down payment. This consumer challenge will put a constraint on developers’ selling prices. A similar trend of dampened prices can also be expected for the secondary market. The current emphasis on assisting first-time-house-buyers will see the launching of more properties costing below RM400,000. As can be seen in the few recent government budgets, various schemes have been introduced to assist millennials and civil servants in achieving their home ownership dream.

8 9 iPROPERTYiQ.COM

APARTMENTS Key figures for top 5 areas

Total Median PSF Y-O-Y transaction Asking median Asking rental Area Y-O-Y capital transactions (RM) growth (%) growth (%) rent (RM) yield (%)

Johor Bahru 274 323 4.3 0.7 1,500 5.6

Tampoi 173 261 4.5 -19.2 1,400 6.3

Masai 126 221 8.6 -27.2 1,400 8.0

Iskandar Puteri 108 399 2.6 4.9 1,800 5.7

Skudai 107 230 3.3 33.8 1,400 7.3

Source: iPropertyiQ.com

Samuel points out that capital most plausible explanation for this for Iskandar Puteri and JB, the other growth values for apartments in growth trend is the emergence of new regions recorded figures exceeding the Iskandar Malaysia are relatively lower apartments in an area which never market’s standard of a profitable figure, than their landed counterparts. This had many modern residential strata i.e 6%. The above average percentages could be attributed to the current buildings before. Iskandar Puteri were probably due to the lower market oversupply of such products in the local showed a marginal growth of 2.6% as value of sub-sale units vis-à-vis the market. Notwithstanding that, it is a this area is still new and property prices monthly rental. Meanwhile, Iskandar pleasant surprise indeed to witness a there require time to stabilise. Puteri and JB have many higher-priced, positive growth rate. In terms of rental yield, all 5 areas new apartments/service apartments Masai showed the highest y-o-y showed commendable rates ranging and in the current buyers/tenants’ capital appreciation of 8.6%. The from 5.6% to 8.0% per annum. Except market, it is only normal for the rental yields to be lower. Top 3 projects in each area

Area Project/Neighbourhood Transactions Median PSF (RM)

Bayu Puteri 3 19 328 Skudai Bayu Puteri 3 19 328 Bistari Impian 18 315 Sri Akasia 30 314 Kulai Persiaran Tanjung 27 266 Park Avenue 25 211 Vista Seri Alam 41 235 Pasir Gudang Ria Apartment 27 186 Apartment Sri Mutiara 25 229 Nusa Perdana 21 310 Iskandar Puteri Villa Bistari 17 283 Nusa Heights 17 403 Villa Crystal 40 255 Tebrau Melawis Apartment 24 206 Desa Skudai Apartment 13 247

Source: iPropertyiQ.com

ADVICE FOR HOMEBUYERS & INVESTORS

1. Due diligence must-dos include within a project/neighbourhood holds 4. Only purchase in popular areas – product details, accessibility to more appeal as house prices there tend where tenant demand is high and convenience, cost of repairs, security to be more stable. sustainable. concerns as well as the quality and 3. Considering the current oversupply of 5. Look for projects with a good concept cost of management and maintenance. high-rise units in IM, investors should and a strong management team. 2. Find out the ratio of local and foreign be more discerning than usual when purchasers - having more locals making a purchase.

8 9 What were people buying? What were potential purchasers searching for? (%) Preferred built-up sizes (Sq Ft) 30% 26.2% 2.2% 25% 1.5M 7.7% 20% Total population 2010 Census 9.1%

15%

11.4% 10.5% 10% 8.8% 41.6%

5%

1.48% 1.2% 37.5% 0% Terrace/Link Condo/Serviced Semi-D Apartment Residential /Townhouse residence /Bungalow Estimated/Flat land annual growth 2010 - 2016

Current area demographic

2016 Population 501-750 sq ft 751-1,000 sq ft 1,001-1,250 sq ft 1.5M 1,251-1,500 sq ft 1,501-2,000 sq ft Total population 2010 Census 1.7M Estimated total population (2016) 1) 750-1,000 sq ft The lion share of purchases or 41.6% were transacted in this category. Samuel shares that this floor area can comfortably accommodate 3 bedrooms and 2 bathrooms. Also, the living and dining/kitchen areas will be pretty spacious, thus very appealing to families 1.48% with several children. Prices for new apartments in the 4.1 JB city centre will range between RM800,000 and Estimated Average household size RM1.2 million whilst those in the suburbs fall within annual growth (2010 Census) RM550,000 to RM1.2 million. The higher end ones are 2010 - 2016 417.8k usually luxury units with high-quality finishes. Households (2016) 2) 751-1,000 sq ft 2016 Ethnic Breakdown These typically feature 2 bedrooms and 2 baths. Larger units might even have an extra bedroom. First Other bumiputera time home buyers and young couples especially are 2.1% Others 0.6% the main fans of such ‘starter’ units. Non-Malaysian citizens 9.0% 1.7M 3) 501-750 sq ft Such units are likely studios or one bedroom Estimated totalIndians population (2016)9.2% apartments. During the property boom in the 2013- Malay 45.0% 2015 period, numerous developers launched smaller- sized units, which received good response as the price points were very affordable. It is no surprise why Chinese 34.0% these units are popular among those looking to get a foothold on the property ladder as well as investors looking for healthy rental yields. Current prices range from RM250,000 to RM900,000. Source: iPropertyiQ.com 4.1 Average household size 10 (2010 Census) 11 417.8k Households (2016) iPROPERTYiQ.COM

Preferred price ranges (RM) Future trends 5.0% Given the current residential overhang, 5.1% particularly for high-rise units in Johor, the state government had 23.9% frozen all new applications for service 7.8% apartments since 2014. Projects being constructed are expected to see 11.2% completion in the next 2 years. This incoming supply means that it will take some time for the market to digest the excesses, explained Samuel. 12.0% 19.7% Several scenarios are expected to play out in the next few years - developers with unsold stock will 15.4% be prompted to offer more freebies including cheaper selling prices and special packages to entice purchasers. < RM140k RM140-160k As more units flood the market, investors will be competing over a RM160-190k RM190-220k limited pool of tenants, giving rise to a tenant’s market. With the exception for RM220-260k RM260k-340k some premium apartments, owners of most schemes will find yield accretion a RM340-420k > RM420k challenge. Securing a tenant in the first place will not be an easy task, given the supply-demand mismatch. As enumerated earlier, the 1,000 sq ft. Given the constant However, with the serviced RM260,000-RM340,000 price range variables with the previous category, apartments freeze as mentioned, takes the crown for most purchases. these pricier units offer a better there may be a new pent-up demand Typically older apartments of over 10 location and/or higher quality finishes for apartments from 2020 onwards. years old with a floor area of roughly and more attractive facilities. Considering the developments in 1,000 sq ft are sought after by small There aren’t many property options technology and innovations such as families as they feature 3 bedrooms within the RM220,000-RM260,000 Industrialised Building System, the and 2 bathrooms. category except for basic apartments new breed of apartments will be quite 19.7% of transactions were garnered in lesser-known suburbs. These different from their predecessors. for properties priced between cheaper units would appeal to the In line with consumers’ demand, we RM340,000 and RM420,000. Again masses, especially to households with a can expect to see more uniquely these would be apartments nearer to monthly disposable income of less than designed homes with carbon-free and the city with a floor area of roughly RM5,000. environment-friendly features as well as the utilization of artificial intelligence and Internet of Things (IoT). Source: iPropertyiQ.com

DISCLAIMER: Samuel Tan’s opinion is based on iPropertyiQ.com. data. The source of Sale data is from the Valuation and Property Services Department (JPPH) which officially records a property transaction once the stamp duty for the Sales and Purchase Agreement is paid while the source of rent data is from agents’ listings listed at iProperty.com. Analytics are based on the data available at the date of publication and may be subject to revision as and when more data becomes available.

10 11 UMLand: There’s something for everyone in ISKANDAR MALAYSIA Boasting an impressive portfolio ranging from picturesque townships and integrated lifestyle developments to a global halal hub, the developer’s catalytic projects in Iskandar Malaysia (IM) will not only benefit home buyers and investors but enrich the local economy and hospitality industry as well.

- REENA KAUR BHATT

he southern economic (BSA). Located in Pasir Gudang, evident by their flourishing township zone of IM powers on amid BSA has been designated as the developments. In terms of outlook Tuncertainties as foreign educational hub for the Eastern and IM’s growth potential, the investments continue to flow in Gate of Iskandar Malaysia by the developer is wholly confident that while various new and planned Iskandar Regional Development IM is a great residential option and infrastructure projects inject local Authority (IRDA). business destination, conclusions and foreign real estate demand. In the age of inclusivity, property made based on consumers’ UMLand is certainly playing its part products are expected to offer encouraging response to their as a community builder with its much more than just brick and various offerings. various large-scale projects in IM. mortar. Homebuyers, Gen Ys With a razor-sharp focus to UMLand is one of the largest especially are looking to buy unlock the development potential property developers in IM with a into a community or a lifestyle. of IM through various industrial, total land area of 4,642 acres – the UMLand’s strategy in keeping up commercial and residential projects, developer first ventured into the with consumers’ current trends and all located in strategic pockets of IM region in 1991 with its flagship demands – giving them exactly what land, UMLand continues to offer development they are seeking for, and more, as quality properties and innovative solutions:

12 13 COVER STORY

Seri Austin

– A truly distinctive lifestyle while the upcoming Bandar Dato’ Onn Specialist Hospital will be an 8-minute drive away. Families will have plenty to do over the weekend with the 36- hole Starhill Golf & Country Club resort located nearby the township. Whether it is golfing, utilising world- class recreational facilities (including a water park!), gourmet dining or just unwinding with loved ones, Starhill is a lovely addition to Seri Austin. D’ Lagoon perspective

What can residents look forward to? Seri Austin is set to welcome IKEA, This 500-acre township located within the popular growth corridor the world’s leading home furnishing of Tebrau in Johor Bahru may be 12 years old, but it continues retailer into its vicinity. First time to flourish with time. It is no wonder why the award-winning Seri Austin has attracted a population of over 18,000 residents – the home buyers will find it especially freehold township offers affordably-priced homes featuring convenient to shop for quality home modern and quality design amid a backdrop of tranquillity and furnishings and accessories. Besides convenience. that, the Tebrau Bus Rapid Transit (BRT) station will be located nearby the township in the near future. Features Conveniences The BRT system which will cover With numerous green focal points Seri Austin scored a major milestone 90% of the total area of IM upon such as smoke-free parks, exercise in January 2017 with the opening completion, will be connected to stations and jogging tracks dotted of ‘The Pasar’, a mid-end grocer Singapore’s MRT transport system around a gorgeous lake, Seri Austin conveniently located in the heart via the Bukit Chagar interchange takes healthy outdoor living to the of the township. Should residents station, easing residents commute next level. Residents get to reduce ever get the hankering for a spot across the causeway. their carbon footprint too as the of shopping, they have numerous township boasts a dedicated 8.4km options to choose from. AEON Dato’ Recent launches bicycle lane, complete with proper Onn, AEON Tebrau City and The Launched in June 2017, the signages. Store are all located within a 15km township’s latest phase, D’Lagoon, Seri Austin’s emphasis on radius while the drive to Carrefour is features 2 twenty-storey towers sustainability has paid off in spades only 25 minutes. comprising 204 luxury apartment – it has helped foster a close-knit Parents in Seri Austin will find units as well as 58 three-storey community that transcends the the slew of established educational landed strata villas alongside a lake. bounds of the township’s various institutions located nearby a With only 6 units per floor in the gated and guarded enclaves. It was welcome relief. These include apartment blocks, the project offers also recognised as the first Smart Sunway College, SJK(C) Foon Yew low-density living with generous Healthy City and Communities 5, Fairview International School, outdoor recreational space. Prices Township in IM. Austin Heights International start from RM491,800 for the Moreover, it was the first in School and KFCH College. Quality apartments while the landed units Southern Johor to offer its residents healthcare is easily accessible are priced from RM968,800. High-Speed Broadband (HSBB) too with Hospital Sultan Ismail For more information, please call Unifi Services. located only 15 minutes away +607 354 1111

12 13 Bandar Seri Alam – The township which keeps on growing Thoughtfully developed across 3,762 acres, Bandar Seri Alam (BSA) is a fully integrated mixed township offering a variety of residential, commercial, industrial and hospitality goodies. Located within Flagship Zone D of Iskandar Malaysia, BSA is also dubbed as the ‘City of Knowledge’ as it is home to numerous educational institutions, with new additions set to come on board.

Features complemented by ample facilities Customs Immigration & Quarantine Families with school-going and conveniences. The township Complex BSA is only an 18-minute children have been known to has a comprehensive list of popular drive away while a new link road move to BSA for its educational retailers including Tesco, Today’s to Nusa Damai is currently being offerings alone. There is something Market, McDonald’s, , constructed. for everyone, from primary to , Marrybrown, KFC and Tea tertiary level including Nam Heng Garden. Residents and locals can What can residents look forward to? Chinese Primary School, Excelsior also frequent Gravity Green, the new Foon Yew High School, one of International School, Japanese happening spot in BSA. Famous for the oldest and biggest schools in school, UniWorld International being a food haven, the 4.87-acre Malaysia is opening up a branch School, Malaysia Arts School, hub offers numerous F&B options, in BSA, the school is expected to Masterskill University College of with a variety of concepts and open doors in 2019. Residents can Health Sciences, Universiti Kuala ambiances. These include also look forward to the soon to Lumpur (UniKL) and Universiti Café, Der’Cabin Bistro, Moonlight be constructed General Hospital, Teknologi Mara (UiTM). Cake House, Bay street 66, Anglers which will see completion in 2023. Nevertheless, BSA’s appeal is not Pitstop and Banafe Restaurant (to Not forgetting, the Lee Chong Wei one-pronged – the township has so be completed end of this year). International Sports City which much more to offer to its residents. Apart from that, residents can also upon completion, will host world- Dotted with lakes and parks, BSA drop by One Gadget Dot Com, a class badminton tournaments, boasts a beautifully landscaped one stop centre for handphones provide wellness therapy and environment and residents have and electronic accessories. In terms advanced fitness training, along access to two recently upgraded of healthcare, BSA is renowned for with accommodation, leisure, large communal parks, which the Regency Specialist Hospital, entertainment, recreation, retail feature lakes with cobbled a member of Singapore’s Health shops and offices. pathways, exercise equipment, Management International Limited. jogging and cycling paths. The private medical facility with Recent launches Utmost priority is given to safety a 218-bed capacity is a hotspot for Opal Residenz (Sec 2), a 6.45-acre and security as the township medical tourists, especially those freehold project comprising 82 continues to expand - the vibrant from Singapore. The recently- double storey cluster and semi- 3,762-acre township currently has launched youth-centric hotel, detached homes was launched a population of 80,000. Recent Bedtel further adds vibrancy to in August 2017. Priced from an efforts include the commissioning the township. Offering excellent affordable RM768,800, these units of the Eastern Police District facilities including free wifi, Bedtel are perfect for upgraders, young Headquarters in BSA. This is in on is a perfect option for students and couples, families with children as top of additional Community Police young travellers looking for a wallet- well as the working professionals. Posts, enlisted Auxiliary Police friendly place to bed down for the Also available are a few limited forces, and hired security personnel night in JB. developer’s units for Fortuna Hub to provide 24-hours dedicated Commuting is a breeze for BSA’s Premier, 4-storey shop offices with support to BSA’s community. residents as the township is easily individual lifts to each unit. accessible from JB City Centre via For more information, please call +607 388 1111 or +6019 775 1133 Conveniences the and Harmonious living at BSA is Eastern Dispersal Link. The JB

14 15 COVER STORY

Suasana Iskandar – Fulfilling all your lifestyle needs

Suasana Sky Deck

This freehold integrated commercial development which is poised to be the newest upmarket tri- development in the bustling corridor of Jalan Wong Ah Fook and Jalan Trus will redefine the live, work, play concept in Johor Bahru.

Features left from the offered 339 for sale centre’s landscape. Besides that, the Promising a holistic community with prices going from RM770,000. Segget river, currently undergoing environment, Suasana Iskandar is an RM240 million rehabilitation a 35-storey development featuring Conveniences exercise, will run through Suasana a service residence tower, an Located along the popular shopping Iskandar - this will definitely inject international-brand hotel and a retail strip of Jalan Wong Ah Fook in vibrancy into the area and draw in podium, Zenith which will feature central JB, the development is also tourists and new businesses. 2 stories of F&B outlets, retail units within a walking distance to the The development is set to and an entertainment centre. Sultan Iskandar Custom Complex leverage on its strategic location The development’s star attraction (CIQ) and just 400m away from the fronting the CIQ complex – is the 4-star Amari hotel, which will upcoming Bukit Chagar rapid transit residents, guests staying at the be managed by ONYX Hospitality station (RTS). hotel as well as shoppers can easily Group. Offering a bevy of facilities, Other commercial hotspots hop onto the train at the JB Sentral the 242-bedroom hotel will be located just opposite are the City station to get to Singapore and vice perfect for business travellers Square Shopping Centre, the new versa. considering its strategic location Komtar retail and office outlets as Other catalysts include the and surrounding amenities. well as the Persada International RM38.4 billion High-Speed Rail Meanwhile, the residential Convention Centre. Zenith Mall (HSR) project connecting Malaysia component, Suasana serviced located just below Suasana serviced and Singapore, with a station likely residences ooze ultra-modern residences is now open too, offering to be built at the JB CIQ complex. design elements as well as high various gastronomic delights The tourism and business outlook functionality. These units come including Morganfield’s, Guoma for JB is certainly promising, with attractive perks which include Steamboat, Gogirou and more, considering that Air Asia recently built-in cabinets with hood, electric coming soon. launched daily flights from cooker and microwave oven. Guangzhou, China to Johor ( Other modern appliances Vision Airport), a positive spillover effect include Samsung SMART feature Suasana Iskandar will benefit greatly indeed for hospitality and retail fittings, Samsung SMART Locks, from the recently launched Ibrahim developments in the city centre, AV Intercom System, Wireless International Business District and Suasana Iskandar included. Smart Gateway and wireless motion Coronation Square JB project, which For more information, please call sensors. Slated to be completed end is aimed at transforming JB city +607 298 9119 of this year, there are only a few units

14 15 UMCity Medini Lakeside – An international hub in the making With an international award under its belt, this top-notch, integrated development will offer branded retail outlets, alfresco F&B outlets, a premium office tower, a hotel and 2 residential components. Spread across 30 acres, the RM1.2 billion project will front a beautiful 13-acre landscaped lake, the biggest in Medini’s business district of Iskandar Puteri and located close to the Johor side of the Second Link bridge at Tuas.

will offer 213 serviced apartments ranging from 581 – 1,194 sq ft. Buyers of Shama will receive a guaranteed rental return from the leaseback of their unit for the first 5 years, followed by a revenue-sharing model for the next 10 years, in which 45% of the rental revenue will be shared by the owners.

Conveniences UMCity Medini Lakeside enjoys a strategic location that is within a few minutes’ distance from a host of amenities. A 5-storey retail podium located below will definitely entice both residents and shoppers. Located nearby is the central business district of Medini UMCity Medini Zone B, Mydin Bazaar, Educity and Gleneagles Medini. Tourist hotspots, Legoland Park, Pinewood Studios Features developer is leveraging technology and Puteri Harbour are also within The UMCity office tower which and innovation to provide excellent a few minutes’ drive away while garnered the Best International property products. the Senai International Airport and Office Development Award at the Some of the many modern Johor premium Outlet could be International Property Awards facilities include automated waste reached within 25 minutes. 2015 in London is currently being collection systems, high-speed constructed by world-class builder, broadband access with a fibre- Upcoming launch Samsung C&T. It features a total of optic backbone to support network The other residential tower, 108 Grade A quality low-density infrastructure and a comprehensive Citadines Medini apartment-hotels business suites, with modern building management system. will be managed by the Ascott premium office designs. Businesses The corporate tower is also fitted Limited and is slated to be launched could take their pick from 4 with Samsung air-conditioning and soon. The project will comprise of spacious and flexible layout options, mechanical ventilation (ACMV) 214 units ranging from 430 - 1,050 ranging from 772 sq ft to 1,812 sq ft. systems to minimise the use of sq ft. Purchasers will have to lease UMLand efforts towards resources and conserve energy. their units to Citadines to be run on impeccable design, quality, service Ozo, a member of the ONYX their behalf, making it a great option innovation, and commitment Hospitality Group is tasked with for investors who are looking for to sustainability have not gone the management of the hotel block long-term and sustainable returns. unnoticed, as testified by its as well as the Shama Medini luxury For more information, please call international award win. The serviced residences. The latter +607 298 9119

16 17 COVER STORY

Iskandar Halal Park – The new global one-stop halal industrial park in the southern region. Street view of IHP

Envisioned as a catalyst project for the Eastern Flagship of Iskandar Malaysia, Iskandar Halal Park (IHP) which was formerly known as Johor Halal Park (JHP) is well on its way to establishing itself as a global one-stop halal centre and an expert in Halal Certification.

Features which will comprise of the Halal achieving IHP’s ambition to be the Iskandar Halal Park (IHP) is nestled Centre of Excellence and mixed world’s halal reference centre. within Pasir Gudang. IHP will be developments. The RMCH will serve as a one- a self-sustaining ecosystem for stop centre that manages the entire halal businesses, providing A-Z Conveniences business process flow and value business services, from downstream The developer recently inked an chain, house offices for foreign and infrastructure and an integrated agreement for the provision of TM’s local government agencies, besides packaging facility to logistic high-speed broadband (HSBB) offering various operational services facilities and a regional marketing network infrastructure and UniFi including collection and distribution clearing house (RMCH). UMLand is services within JHP. Tenants will centres. jointly developing IHP with Johor enjoy value added services such In the past year, IHP has received State Government. as Microsoft office 365 bundling, considerable interest from Korean IHP has been approved with competitive call rates and free initial and Japanese investors as the the HALMAS certification since setup for Microsoft Office 365 user companies there are keen to December 2013 for its first phase licences. penetrate into the halal market in development, which covers 103 Besides that, the HALMAS Muslim countries and the Middle acres. To be completed by year- certification will allow companies East. These businesses range end, Phase 1 which features 89 units operating within Iskandar Halal Park from cosmetics to food ingredient of double-storey industrial and to get a 10-year tax holiday. sectors, all which foresee the huge commercial properties comprising The industrial park is enviable demand in halal manufacturing of terrace factories, cluster factories, as it is located a mere 15 minutes products. link-detached factories, shop offices away from the Pasir Gudang Port IHP is targeting investors and as well as industrial land plots. and is within close proximity to business operators in cosmetics and As of July 2017, IHP has already the Senai International Airport. skin care products, pharmaceutical, managed to bring in investments IHP is also well served by the Pasir food & beverages that are halal. of almost RM 50 million with a Gudang Highway and Senai- With strict criteria based on take-up rate of 45% and 80% for Expressway. halal requirements for allocation factory units and commercial units, of factories, industrial lots and respectively. A scientific and halal Vision commercial plots will be sold to laboratory, the Johor Toyyiban The halal industry is a big business manufacturers/investors with Laboratory will also be built to – worldwide demand for halal high value-added processes, job expedite the process of halal testing consumer products in 2015 was creation and manufacturing based and cater to tenant’s certification worth USD 2.5 trillion. IHP is set to investment. needs. capitalize on this robust demand For more information, please call The second and third phases are – the RMCH will be instrumental in +607 382 9288 expected to be completed by 2020,

16 17

IBRACO A force to be reckoned with Ibraco’s success in the East has transformed areas in Kuching into a sought-after address. Its arrival in the West and its recent diversification shows there is no roof to what it can achieve.

1

ell-known for its developer successfully transformed of Ibraco’s nearly completed township, transformative prowess, the mangrove land waste into a Tabuan Tranquility. The new township WIbraco Berhad has come thriving and successful township will cover an additional area of 163 a long way since it first set its mark that consisted of 12,000 properties acres with GDV of RM857 million, in Sarawak. Founded in 1971, the spanning across 1500 acres of land and encompasses 1,142 properties, developer has dedicated over 40 with gross development value of RM2.5 which include landed residences, a years establishing itself as the choice billion. This includes both affordable condominium and a SOHO (Small property developer in Sarawak with and luxury residences (terraces, Office Home Office) developments, a proven track record and as a strong semi-detached, 3-storey residential as well as commercial development investment holding company. units and high-rise) and commercial (shop offices, retail outlets). The Great developments (shop lots and industrial Tabuan Township has seen substantial Developments units). appreciation in value over the years – Its journey began with the flagship Today, Greater Tabuan has grown to successively creating a strong base of development of Greater Tabuan become Kuching’s most sought-after IBRACO brand loyalists. Township, located just 15 minutes address, and its success has prompted The success of Greater Tabuan away from Kuching City Centre. The its expansion to include another one was then followed by Town Square

1 Part of Tabuan Jaya township. 2 Bintulu Town Square. 2 3 Continew - Jln Tun Razak, KL. 4 Tabuan Heights Drive.

20 21 FEATURED PROPERTY

Bintulu, an integrated development atop a vibrant commercial space, comprising both commercial and features units with sizes ranging residential properties in Bintulu. The between 550 sq ft and 1,200 sq ft hallmark of this development is the for one-bedroom, two-bedroom and covered link-way with a seamless all dual key apartment seek to meet the weather pedestrian experience and its increased demands for small sized innovative design concepts to integrate units and affordable housings. convenience to all at-large. Town The appeal of Continew lies in its Square Bintulu was built in two phases: location – it sits between Jalan Tun Phase one consisted of three-storey Razak and Jalan Yew – where extensive shop offices and also houses the first infrastructure development by the 4 office tower in Bintulu being accredited government will change the landscape with the MSC Status. While phase two of the area in the near future. comprises a 13-storey SOHO Tower In addition, the newly completed landed residences with high-rise featuring amenities of 158 SOHO units second phase of the Sungai Buloh – developments, complemented with with strata titles, as well as commercial, Kajang (SBK) MRT1 line runs through varied commercial components, retail, office space and other residential Jalan Tun Razak with a station at Northbank fulfills the lifestyle needs dwellings. Cochrane MRT, which is within minutes of the younger generation where walking distance from Continew. Bukit emphasis is placed on safety, security, Setting a mark in the west Bintang, one of KL’s most popular convenience, facilities and affordable Its successes in the Eastern state attraction, is accessible from Continew living units. inspired Ibraco to try making a via the SBK MRT1 as well. The project will be built in two mark in West Malaysia. They made phases, each offering purchasers with a breakthrough entry into the west Reaching another milestone choices of various types of residences through its maiden commercial- This year, Ibraco diversified its built within walking distance to residential project in Jalan Tun Razak, portfolio to include infrastructure commercials, office units, educational KL called Continew. The two-tower development, after being awarded a institution as well as a private social freehold serviced apartment that sits Letter of Acceptance (LOA) from the clubhouse. All the commercial units are Public Works Department, Sarawak situated a comfortable distance away worth RM302.64 million to construct from the residences to obliterate any and complete a new airport in Mukah, unwanted noise or social disturbances. Sarawak. Via Package 2, the scope of Further enhancing the feel-good work includes final formation, airfield ambiance of the new development pavement across road, landslide is the ample space provided for all infrastructures and building works. health-related activities and a walk The project will be taken on by square to add to the aura of exclusive Ibraco’s construction division, which living. Other facilities include leisure was established in 2002 and has the parks, jogging treks, and waterways. expertise to carry out earthworks, and Where accessibility is concerned, civil, building and structural works for Northbank is well-positioned in close residential, commercial, and industrial proximity to Kuching city centre, projects. With expected completion of putting amenities such as schools, three years, the project will contribute universities, banks, medical centres, positively to Ibraco’s earnings and net shopping malls, dining outlets, assets for the duration of the project. community markets just a stone throw In the pipeline, Ibraco will also away. be unveiling its next integrated For more information visit development project, Northbank by www.ibraco.com or contact its head 3 the second half of 2017. By combining office at 082-361 111.

20 21 iProperty.com.my – Reimagined and Refreshed Refreshed and responsive site reinforces the digital company’s commitment to deliver the best experience in the market and strengthens its position as the No.1 property site in Malaysia.

iProperty.com Malaysia, the 1 Haresh (Left) and Joshua Khoo - Product Manager, Consumer Marketing (Right) during the country's No. 1 property site recently Q&A session. introduced a fresh new look aimed at providing a more responsive and unique property experience to consumers. Beginning today, visitors who visit iProperty.com.my can search for their dream property and contact “In doing so, we hope to develop the agents or developers in a clean, better leads, which would translate to 1 simple and functional space that is not better conversion for our customers only relevant, but rich in content. The and help make it easier for our introduction of the newly enhanced “This was about one team across consumers to find properties. Our features on the website marks another different locations, across various roles goal is to change the way Malaysia significant milestone for the property coming together to build something experiences property”, concluded site following its acquisition by REA incredibly amazing. Diversity is our Haresh. Group in February 2016. strength and we embraced it with Over the last six months, visitors Haresh Khoobchandani, Chief focus, passion and determination to to iProperty.com.my have grown by Executive Officer, REA Group, Malaysia deliver something very cool at an more than 111% and it continues to & Singapore said that the introduction incredible pace,” Haresh explained. experience audience growth and better of the refreshed and responsive site “iProperty.com and our parent engagement across all our platforms. helps deliver the best user experience company REA Group are committed to This is based on the latest findings in the market for its consumers in deliver innovative products and offer provided by Google Analytics. Malaysia. unique experiences to our customers In August 2017, SimilarWeb reported “The new site is the continuation across Malaysia and beyond. Our aim that there were more than 12 million of an amazing experience for our is to continue to improve and innovate visits to iProperty.com.my. This is the customers in Malaysia and it began our products to offer a personalised highest number ever recorded in the with a simple question; What do our and unique experience to our history of the website and it’s three- customers want? consumers.” fold more than its nearest competitor.

22 PB INDUSTRY UPDATE

REHDA property survey (1H 2017)

44% of residential launches were below RM500,000 for 1H 2017, reports REHDA.

The findings of the REHDA Property Sales performance by property type Industry Survey (PIS) 1H 2017 gathered 1H2016 2H2016 1H2017 by the Real Estate Housing Developers’ PROPERTY TYPE Association Malaysia (REHDA) from Units Units Units Units Units Units launched sold launched sold launched sold 153 respondents across Peninsular Low cost house/flat 1,022 0 329 46 211 110 Malaysia generally revealed that the Single storey terrace 357 78 1,039 653 912 537 challenging market for the property 2-3 storey terrace 2,345 1,473 2,798 1,666 2,373 1,702 sector remained for the first half of Semi-detached/ 405 153 791 445 599 133 2017. cluster The survey reported residential Bungalow/garden 362 194 250 114 45 10 properties continue to lead new villa launches with 53% of them being strata Serviced apartment 899 267 3,558 1,033 2,313 1,079 Apartment/ units despite volume drop in overall 1,550 548 3,983 1,840 2,290 731 condominium performance by 9% from the preceding Commercial 233 116 528 176 346 103 half (1H 2017:32% ; 2H 2016:43%) TOTAL 7,172 2,829 12,276 5,973 9,089 4,405

Sales Performance NOTE: Although launches experienced a • Serviced apartment - Selangor (Seri Kembangan, Puchong), KL (Jalan Tun Razak) reduction, sales performance on the • 2-3 terrace house - Selangor (Shah Alam, Klang, Puchong Cyberjaya, Sg. Buloh) (Sales performance showed slight growth, from 45% to 48%) other hand, showed a slight growth from 45% to 48% with increased demand in landed properties continued to dominate residential particularly the 2-3 storey terrace and market with most launches were single storey terrace as well as serviced mainly in Selangor covering areas in apartment and low cost house/flat. Klang, Shah Alam, Hulu Langat, Seri A similar trend was observed for Kembangan and Puchong. buyers’ profile where majority of the purchasers are first time house buyers Unsold units mainly purchasing self-dwelling. Overall, about three quarter of the respondents were reported having Launches unsold units with majority of them Number of launches for both stating end-financing and loan residential and commercial have rejection as well as low demand/ reduced significantly by 31% and interest and unreleased Bumiputera 34% in comparison to the previous quota as the main reasons for the half. Albeit the reduction, similar unsold units. 41% of the unsold units percentage (4%) for commercial are properties below RM500,000 units launched were recorded for 1H located mainly in Johor, Kedah, Melaka, 2017 and 2H 2016. Strata properties Pahang, Perak and Perlis.

PB 23 • Selangor (Sunway, Setia Alam) • Perlis (Chuping) • KL (KLCC) • Melaka (Serkam) • Pahang (Temerloh) Above RM2.5mil < RM250,000

• Selangor (Petaling Jaya, Ara Damansara, Setia Alam) 5% 5% • Penang (Bt. Maung, Sg. Ara)

>RM1mil - RM2.5mil

23% RM250,001 - RM500,000 36% RM500,001 - RM1mil 31%

• Johor (, Pasir Gudang) • Johor (Johor Bahru, Skudai, Kulai) • Kedah (Jitra, Sg. Petani, Alor Setar) • Negeri Sembilan (Seremban, Senawang) • Melaka (Melaka Tengah, Alor Gajah) • Selangor (Kajang, Shah Alam, Klang) • Pahang (Mentakab, Kuantan) • Perak (Ipoh, Teluk Intan)

% of unsold units by price range

End-financing remained the major Business operations sales such as assisting buyers with the issue for the unsold units with 73% Findings of the survey revealed that first 10% down payment, reviewing of the respondents reported facing 40% of the respondents’ organisations selling prices, as well as enhancing the problem. About half of the loan were highly affected by the current innovation and creativity of their rejection are for properties priced economic scenario. The top 3 cost products. RM500,000 and below. components reported to affect the Contributing factors to the cash flow were land, material and Future launches and outlook 2H 2017 financing issue include ineligibility of labour as well as compliance costs. 51% and 1H 2018 buyers’ income, credit history/CTOS/ of the respondents also reported that Number of future launches was CRISS, lower margin of financing, cost of doing business has increased anticipated to increase in 2H 2017 with bank requesting more documents up to 10%. Aside from adopting moderate sales performance expected and limited quota for low cost and cost cutting measures in operation within the first six months of launch. affordable housing. and production/delivery, affected Most states would either retain or lower respondents also reported that they their prices at RM500,000 and below have taken initiatives to help boost with the exception for Selangor and Kuala Lumpur. Future launches residential selling price

Most launched price range Most launched price STATE in 1H 2017 in 2H 2017 Most states are anticipated to either retain or lower Kedah ≤ RM250,000 ≤ RM250,000 their prices.

Pahang ≤ RM250,000 ≤ RM250,000

Terengganu ≤ RM250,000 ≤ RM250,000 Overall, majority of the respondents ≤ RM250,000 Kelantan ≤ RM250,000 & RM250,001 - RM500,000 were neutral towards the economic/ business outlook as well as the Melaka ≤ RM250,000 RM250,001 - RM500,000 property market for 2H 2017 and 1H Perak ≤ RM250,000 RM250,001 - RM500,000 & RM500,001 - RM1mil 2018. RM250,001 - RM500,000 Johor RM250,001 - RM500,000 & RM500,001 - RM1mil Penang RM500,001 - RM1mil RM250,001 - RM500,000 N. Sembilan RM500,001 - RM1mil RM250,001 - RM500,000 Selangor RM500,001 - RM1mil RM500,001 - RM1mil WPKL RM500,001 - RM1mil RM500,001 - RM1mil

24 25 INDUSTRY UPDATE

Future launches

Commercial 205

Landed Types of 7,386 48% of the respondents planned to launch in 2H 2017 with 17,535 units. Strata properties 9,647

ANTICIPATED SALES PERFORMANCE 39

17 16 76% of the respondents with future launches anticipate 2 their sales performance to be 50% AND BELOW.

Below 25% Below 25% 51% - 75% Above 75%

Top reasons of unsold units Future launches Trend in 5 corresponding periods All states

KEDAH/PERLIS Kulim, Anak Bukit, Chuping 1H 2015 2H 2015 1H 2016 2H 2016 1H 2017 KELANTAN Marang, Tanah Merah Unreleased End- End- End- End- bumiputera financing & financing & financing & financing & PENANG quota loan rejection loan rejection loan rejection loan rejection Batu Maung 1 1 1 1 1 TERENGGANU Kemaman

PERAK End- Unreleased Low Low Low Teluk Intan, Bidor financing & bumiputera demand/ demand/ demand/ loan rejection quota interest interest interest SELANGOR 2 2 2 2 2 PJ, Shah Alam, PAHANG Kajang, Kuantan, Mentakab Hulu Langat WPKL Odd/ Low Unreleased Unreleased Unreleased Cheras, Sri Rampai, corner demand/ bumiputera bumiputera bumiputera Bukit Jalil lots interest quota quota quota 3 3 3 3 3 JOHOR N. SEMBILAN Skudai, Kulai, Segamat, PD, Membau MELAKA Alor Gajah, Ayer Panas, Bukit Rambai

24 25 INDUSTRY UPDATE

REHDA homebuyer survey (1H 2017)

Buyers' profile NATIONWIDE Foreign buyers Foreign buyers 45% 2% 43% 45% 2H 2016 2% 43% 2H 2016 35% 33% 1H 2017 35% 33% 1H 2017

17% 17% 1H 2017 17% 17% 1H 2017 5% 5% 5% 5%

First time Upgraders Investors Campanies buyer First time Upgraders Investors Campanies buyer Significant number of purchasers are Local buyers FIRST-TIME HOUSE BUYERS Significant number of purchasers are Local buyers98% FIRST-TIME HOUSE BUYERS 98%

Provision of affordable housing Financing issues % of respondents with Contributing factors aordable housing 73% of the respondents Top 3 challengesfaced end-financing problems 63% 60% in aordable housing provision

High construction cost Limited quota 1 Lower margin for low cost/ 40% of financing aordable 37% High land cost / non-availability 2 of suitable land Credit history/ Bank requesting Lack of incentive (density, plot ratio, more documents 3 parking requirement etc.) CTOSS/CRISS

Ineligibility 2H 2016 1H 2017 Yes No of buyers income

Yes No Contributing factors 73% of the respondents % of respondents with faced end-financing problems aordable housing Top 3 challenges 63% Limited quota 60% in aordable housing provision Lower margin for low cost/ of financing aordable 1 High construction cost 40% 37% Credit history/ Bank requesting High land cost / non-availability CTOSS/CRISS more documents 2 of suitable land

Lack of incentive (density, plot ratio, Ineligibility of buyers income 3 parking requirement etc.) Yes No

2H 2016 1H 2017 26 PB

Yes No HAPPENINGS

LBS Bina Group matches demand for affordable homes with new launch in Puchong

LBS Bina Group Berhad believes proof that style and affordability can homebuyers in the middle-income go hand in hand,” said LBS Bina Group bracket should be offered the option Berhad Group Managing Director, Tan of homes that incorporate style, Sri Lim Hock San.” security, and convenience, at an Built on a 5.079-acre piece of land, affordable price tag. A long-term LBS SkyLake Residence comprises supporter of the nation’s agenda to two blocks of serviced apartments increase home ownership, LBS recently with a total of 746 units. Available in launched LBS SkyLake Residence, its several built-up area options, the units latest affordable lakeside residential range from 545 sq ft to 1,063 sq ft development located in Puchong. and cater to different target markets, “LBS continues to be focus on be it single professionals, young delivering quality homes in the families or savvy investors. Priced affordable segment. I believe we need from RM250,000 onwards, the stylish to be creative and innovative when designs, well-planned landscapes and it comes to developing affordable value-added features of LBS SkyLake homes today. In this day and age, Residence raises the bar for homes in homebuyers, be they young families the affordable segment. a family-oriented environment or young adults, look for value-added Leveraging on its strategic location, complimented by thoughtful designs features that match their individual this lakeside development epitomises as well as retail, educational, healthcare lifestyle. LBS SkyLake Residence is a renewed living experience, creating and shopping amenities.

Bon Estates forms strategic partnership with Kerjaya Prospek

Premium boutique developer properties. It has a portfolio that Bon Estates Sdn Bhd has includes projects with renowned achieved a major milestone with names in the development industry the appointment of reputable as well as experience in a variety of construction firm Kerjaya Prospek projects in Malaysia. (M) Sdn Bhd, a wholly-owned In seeking out the ideal partner for subsidiary of Kerjaya Prospek Group The Estate, Bon Estates Managing Berhad as the main contractor for its Director, Goh Soo Sing said the popular “The Estate” luxury project company naturally looked at entities in South Bangsar. that could keep within costing Signing the deal worth RM291 and timeline parameters as well as million in mid-September 2017 at abide by the high-quality standards Bon Estates Office, it brings the envisioned for the project. Estate in accordance to QLASSIC total outstanding orderbook of He said that the opportunity to standards. Kerjaya Prospek to RM3.15 billion. work with Kerjaya Prospek offers a “We couldn’t be more pleased to This project marks Kerjaya Prospek’s particular appeal because there is work with such an experienced and seventh contract award for the year great synergy in common outlook well known company, which brings and brings the year-to-date contract towards build quality standards. with it a stellar track record. More wins to RM1.16 billion. Specifically, Goh pointed out Kerjaya importantly, we share a common Kerjaya Prospek brings with it a Prospek’s adoption of QLASSIC vision about build quality standards, solid reputation and an impressive standards, which is in line with Bon and that is important to our track record as a builder of high-end Estates’ own vision to build The aspirations for The Estate,” Goh said.

PB 27 HAPPENINGS

Setia Precast’s fourth win for delivering excellence in IBS

with high IBS score, innovative construction management with minimisation of construction wastage, cleanliness and high safety level, efficient usage of materials and labour and completion within schedule. S P Setia’s affordable apartments in Setia Alam, as well as Setia EcoHill in Semenyih, are constructed using the Setia Precast Sdn Bhd, a wholly accorded to the group in 2011 and 2013. precast construction system to ensure owned subsidiary of S P Setia Organised by the Construction consistent quality on completion Berhad, was awarded the prestigious Industry Development Board (CIDB), with lesser defects thus reducing Industrialised Building System (IBS) the ceremony was graced by Datuk rectification costs and inconveniences. Special Award category for the fourth Seri Fadillah Yusof, Minister of Works, This system also uses less labour as time at the Malaysia Construction Malaysia in September 2017. Present most of the structural components Industry Excellence Award (MCIEA) to receive the award was Kow Choong can be prefabricated off-site. Other 2017, for its construction of the Seri Ming, Executive Vice President of affordable apartments in Setia Alam Kasturi affordable apartments in Setia SP Setia Berhad who accepted the which were built using this system are Alam. Last year, Setia Precast Sdn Bhd honour from Datuk Ir. Ahmad’ Asri Seri Baiduri, Seri Intan, Seri Jati, Seri was recognised in the same category Abdul Hamid, Chief Executive of CIDB Mutiara and Seri Pinang whereby all for the Seri Jati affordable apartments Malaysia. The IBS award is presented to projects were well accepted by the project. This recognition was also those who deliver quality workmanship purchasers upon vacant possession.

Gamuda Land’s maiden development in Melbourne to complete soon

Gamuda Land witnessed the aspect of community living is this site, is the location. Being on the topping out of its maiden central to our design philosophy Chapel Street itself, it is the centre development in Melbourne, Australia, with the creation of many ‘gathering of Melbourne’s premier fashion, marking a milestone for the developer places’ that encourage our residents food and arts destination; with the as construction reaches the final level to come together interact and Yarra river and parks just a stroll of the 31st floor signifying the near connect with one another. This away; public transport right at your completion of 661 Chapel St in South differentiates 661 Chapel St from doorstep and the adjacent heritage- Yarra. other developments in the area.” listed Melbourne High School in “As a developer, we create places “One of the key considerations, front. This is a location that can’t be that people will call home, want to when we decided to embark on beaten,” Ngan explained. be a part of, grow up and grow old in. The planning and architectural design of our developments promote connectivity so that residents can truly get to know their neighbours,” said Ngan Chee Meng, Chief Operating Officer of Gamuda Land. “With 661 Chapel St, our aim is to create a vertical community where residents have a strong sense of belonging. Being part of a close-knit community is important, therefore,

28 PB SPECIAL FOCUS

Iskandar Malaysia The rise and opportunities SPECIAL FOCUS

ISKANDAR MALAYSIA: 10 YEARS ON As Iskandar Malaysia celebrated its 10th anniversary in November last year, we look back at the initial obstacles it faced, KHALIL ADIS achievements and challenges moving ahead. Director of REI Mediaction Sdn Bhd

- KHALIL ADIS Khalil which specialises in the digital media landscape by leveraging When Iskandar Malaysia began its While I can understand the sceptism on the power of the Internet and first phase of development in 2006, from my fellow Singaporeans, I had social media. It adopts a multi- many Singaporeans and Johoreans found it rather strange that even pronged online strategy covering that I had encountered were very Johoreans themselves had a lot of content marketing, lead generation, sceptical on the upcoming economic questions on the viability of Iskandar discussion threads via hashtags, corridor bordering the already affluent Malaysia. crisis management and media city-state of Singapore. Needless to say, my aunt’s relations. “You will regret putting your money experience had affected my perception He can be reached via in there. Just look at the crime stories of Iskandar Malaysia greatly. So much [email protected] that are being reported daily,” said a so that I would refuse to go into Johor neighbour of mine. unless it was absolutely necessary. Indeed, closer to home, my aunt was In 2008 the inevitable happened. among the few who had witnessed In that year, I had landed a job as an first hand how her weekend home was editor with Property Report which This brings the total robbed. Everything had been taken required me to write an extensive cumulative committed away except for the structure and the four-page special report on this special bare concrete. economic zone. By then, there were investment from 2006 “It won’t happen. Just look at all significant reports from the Singapore to 31 March 2017 to the grand projects the Malaysian press on Iskandar Malaysia, most government had trumpeted over the of which focused on crime issues.I RM227.67 billion. years,” said another Johorean friend of mustered my courage as I drove in via mine. the Second Link.

30 PB

SPECIAL FOCUS

As I drove pass the border, I was due to the perception issue that had overwhelmed by the vast expanse plagued Johor. of land spanning from However, the giant finally woke up all the way to what is now known as from its slumber in 2011 when Temasek Iskandar Puteri. The sheer scale of Holdings announced its investments in developments happening left right and two sites in Medini, Iskandar Malaysia, centre was overwhelming compared to now called Afiniti Medini and Avira. what was happening in Singapore. This was followed with another S$3.2 As I reached Iskandar Puteri, I was billion worth of investment to build a greeted by officials from the Iskandar township development on Danga A2 Regional Development Authority island in 2013. various uncertainty in the property (IRDA) and Iskandar Investment As bilateral ties began to thaw, so market had no doubt affected Berhad (IIB). did investors’ confidence. investors’ confidence. They were congenial, almost At the peak of the market in 2011, apologetic as I shared my fear being Singaporeans were seen snapping up Glimmer of hope robbed along the way. Iskandar Malaysia properties like hot Despite the current challenges, some That was when I received my first cakes, some as high as RM1,000 per markets are still doing well. For Iskandar Malaysia 101 lesson within the sq ft. This was considered the second example, the retail sector and short- meeting room of IIB which had helped phase of its development when many term stays that are located near to dispel the initial scepticism I had on this of its infrastructure projects such as tourism landmarks such as in Johor vast piece of land measuring 2,217 sq km. the Coastal Highway and EduCity were Bahru are doing well due to the falling From EduCity to LEGOLAND completed. ringgit. MALAYSIA (as it was called back IRDA’s recent figures showed that In addition, the recent then), I began to understand Iskandar Iskandar Malaysia has surpassed announcement that the cross border Malaysia as a well master-planned and market watchers’ expectations with a Rapid Transit System (RTS) between sustainable economic zone that was recorded committed investments of Singapore and Johor Bahru will meant to complement Singapore. RM5.27 billion for the first quarter of commence passenger service by 2024 While my negative perception had 2017. This brings the total cumulative had given a much-needed cheer in the slowly dissipated, the scepticism committed investment from 2006 to 31 already quiet market. remained among the public-at-large. March 2017 to RM227.67 billion. While the overall prospect for As I headed back to Singapore to file Iskandar Malaysia is still promising my story, I called a few of my sources Challenges ahead due to its strategic location next comprising analysts, and markets While Iskandar Malaysia has gone on to to Singapore, the state and federal watchers on what they thought of this become the top performing economic governments will need to address the special economic zone. corridor out of the five in Malaysia, various issues mentioned to restore “It will fail. Just look at Cyberjaya,” some pressing issues remain. investors’ confidence. Addressing such said one. The most pressing is the perceived issues head on, will provide some relief “Another white elephant project,” oversupply in the property market in a market that is already spooked quipped another. whereby Chinese developers are based on hearsay and rumours. launching massive residential projects While IRDA has consistently released The giant awakens by the thousands. data and progress report, perhaps the Fast forward three years later, that We have already seen how this state and federal governments should all changed in 2011 as bilateral ties has induced price volatility whereby also embark on outreach programmes between both countries started to high-end homes in are now to educate consumers, shareholders warm. being sold in auctions for as low as and the public. This will go a long way For the longest time, the property RM380 per sq ft. This, together with to take Iskandar Malaysia forward as market in Johor had been rather muted tight lending criteria among banks, it steps up gear in its third phase of as many foreign investors stayed clear the political issue in Malaysia and the development this year.

DISCLAIMER: The opinions stated in the article is solely of Khalil Adis and are not in any form an endorsement or recommendation by iProperty.com. Readers are encouraged to seek independent advice prior to making any investments.

32 PB

Concerns over ISKANDAR MALAYSIA? – Keep Calm, Rome wasn’t built in a day

Yes, there have been a few glitches, but let’s not be too quick to shoot IM down.

- REENA KAUR BHATT

ot all are on board with Iskandar Malaysia’s (IM) vision Nto be a regional business hub, What are your views on the residential the excitement has faltered somewhat property oversupply situation in IM? in recent years as concerns of a How can it be remedied? property oversupply compounded by a Oversupply is not all doom and gloom ‘missing’ population continue to linger. as painted by many experts; it is merely Quite a few stakeholders, however, are an unrealized opportunity. Instead still optimistic over the viability of the of wringing hands over the unsold mega-project – after all, good things property units, we should focus on the Charles Tan take time and effort. demand bit; provide more solutions on Property blogger and investor As pundits debate on whether or how to increase the demand side of the Connect with Charles at not IM will live up to its vision of “being equation. A greater emphasis must be https://kopiandproperty.com a strong and sustainable metropolis placed on job creation. of international standing by 2025”, It is as simple as giving the people Charles Tan shares his perspectives what they want. Build more affordably- and offers a few suggestions to help priced homes and not just high-end, bring the best out of the economic region’s potential.

34 35 COFFEE WITH CHARLES

luxury condos. You have to build There are concerns that the Unequivocally, a development will the right kind of housing to draw in sheer scale of Chinese property only succeed if it brings value to the talent from other states, especially developments in IM, particularly local population and surrounding the Klang Valley. Perhaps change Country Garden’s region. Country Garden is aware of the composition of homes being might give rise to ‘ghost cities’, the need to create a balanced and built, a matter of tweaking the which China is already known for. sustainable ecosystem, one which product size and layout could What are your thoughts on this does not only consist of luxury greatly improve housing sales. matter? homes. One cannot accuse the Nevertheless, residential property The supply of these Chinese homes, developer of not trying to create a is just part of the IM picture. Let’s Forest City especially has drawn flak multi-faceted metropolis – In a bid not forget the various investments – the four islands are estimated to to grow the township in different that have materialised and more house some 700,000 people upon sectors, Country Garden recently taking shape – IM is now home completion. Nevertheless, let’s not signed various groundbreaking to two theme parks, various forget that IM won’t be receiving a memorandums in August 2017. colleges and international schools, sudden influx of units in 2018 – these Some of the 21 MOUs signed upcoming big-branded malls homes are to be built across a 20- were with Chinese co-working including Paradigm and Mid Valley year span. space operator Nashwork; China’s as well as the RM5 billion Vantage Besides that, it should be noted prestigious Foshan Hospital of Bay Healthcare City, which will that there are many residential Traditional Chinese Medicine to commence construction in October units being built in IM by local establish a satellite facility within 2017. At the end of the day, the developers too. These aren’t being Forest City and Hong Kong-listed people working at these places will shouted from the rooftops as these PCCW Global, which offers world- need homes to live in. Malaysian developments have not class digital infrastructure. These Other strategic moves include; attracted as many purchases from investments will complement to expedite the approval process foreign purchasers as their Chinese duty-free shopping destinations, for manufacturing plants and counterparts. As reported in the an entrepreneurial hub and various implement moves to attract media, the Chinese nationals were sports and recreational facilities. businesses to set up shop in IM, coming in by the planeloads to snap If executed well, the Forest especially those from Singapore. up Forest City units as many are City mega project will generate IM has the land and space which seeking a ‘summer’ home or have a number of positive spillovers. Singaporean businesses crave. IM been outpriced out of the housing Besides attracting more FDI into is within a convenient distance, market in China’s urban areas. the IM region, the many commercial making it possible to house their The Chinese mega-developments, components across the 4 islands manufacturing plants in Iskandar including Danga Bay and R&F will provide job opportunities for and head office in their home Princess Cove, are undeniably huge the locals. Should Country Garden country. but contrary to what many believe, and the local authority work hand in Similarly, we must build more they do not hold the lion-share of hand to implement the development international schools with the right investments coming into IM. When plans strategically, they would be concept and facilities; there is a compared with Malaysia’s overall successful in generating commerce huge demand from Singaporean foreign direct investment (FDI) activity in the green and smart city, parents for schools providing large, in 2016 totalling US$9.6 billion, making it desirable for the locals green fields. Singaporean schools Chinese investments constituted to work and even live there. Local do not have the luxury of space, less than 10% (US$1.1 billion). Should talents might be drawn to work in hence it is very important that we you drive around IM today, you will Forest City instead of Singapore in get these seemingly small details observe many property projects the future. right. there are owned and being built On the downside, should the by local developers. There are Chinese buyers opt to keep their many new industrial developments, properties as investments or save catering to the manufacturing them for retirement or for their sector as well. children, then there is the risk of ghost cities emerging.

34 35 “We cannot compare Johor with Kuala Lumpur, as Johor has a population of about 2 million people and it won’t be able to support an MRT or LRT. The BRT and RTS are more cost-effective and suit Johor best. Johor, IM specifically — does not have a large enough population to support such a transportation system.” DATUK ISMAIL IBRAHIM Iskandar Regional Development Authority (IRDA) Chief Executive

in the population. Why wait for the What do you think of the above population to catch up? statement? Will the Bus Rapid Stakeholders should take an Transit (BRT) be sufficient to active role in pressuring the support IM’s growth? The BRT system is a healthy start; authorities to be more proactive in it will cover 90% of the total area driving the speedy development of IM upon completion and will of local public transportation be developed in 3 phases or lines; and the right links to CBDs and JB – Skudai, JB – Johor Jaya and places of interest, only then will JB – Iskandar Puteri. The BRT will IM realise its work, live and play be also be integrated with the Rapid vision. Proper planning and speedy Transit System (RTS), where the implementation of the RTS is crucial Bukit Chagar interchange station in too. This rail network is key to central JB will connect directly to driving IM’s growth as a business Singapore’s Woodland MRT station. hub. Let’s face it, IM has one thing An aerial view of the EduCity project These investments will greatly that Singapore lacks – land. IM is the improve linkages between JB and answer to Singaporean businesses, Singapore, but it is still a distant MNCs and growing SMEs who are in future away – the RTS’s scheduled need of production/ manufacturing completion is in 2022, that is 5 years hubs. away. Meanwhile, the first phase of Moreover, it will only cost a the BRT will only be up and running fraction of the price to set up

in 2020! shop in IM. It is close enough Legoland Malaysia As the BRT uses primarily existing for companies to have their roadways and there is no need to manufacturing base there and their construct supporting rail lines, this head office (finance, R&D and HR) in project should be fast-tracked and Singapore. The RTS will be a game commence operations as soon changer, it will provide working as possible. Public transportation professionals in Singapore to enjoy infrastructure is extremely a cheaper and better quality of life powerful in facilitating an area’s by living in Johor, where the type of Johor Bahru CBD growth – it is the catalyst to draw property is concerned.

36 37 COFFEE WITH CHARLES

Why must we work the other past few years. To reiterate, a more way around instead to draw in affordable mix of homes has to be population and how can it be done? introduced. Working on the area’s IRDA has established a few focus livability and built environment industries in order to accelerate the should be a top priority too – market and enable job and business Regardless of fancy buildings and creation, which in turn would drive a strategic location, when there property demand. These include are no supporting infrastructure, tourism & leisure, education, commercial elements and healthcare & wellness and creative transportation services in a green sectors. Efforts can be seen through field development, people will not the materialisation of the Legoland want to live there. and Hello Kitty theme parks, which Ask these questions - What are draws in weekend tourists from citizens requirements and what will other states and Singapore; various they look for in a neighbourhood? world-class educational institutions Top answers will be commercial ranging from primary to tertiary vendors and food outlets (including levels and healthcare facilities such mamak shops), service outlets as Gleneagles Medini Hospital such as launderettes as well as and Columbia Asia Hospital, efficient transportation services. both providing 300 and 80 beds, People want to stay in an inclusive respectively. neighbourhood – the surefire The promise of potential from all way to foster clusters of thriving these investments has contributed neighbourhoods is through proper to the development of mostly development of public goods and high-end residential units in the services.

Sultan Iskandar CIQ

Conclusion It can’t be denied that IM has put Johor on the world map; prior to the mega project, most Malaysians perceive Johor to be a ‘pretty dull’ place. IM has Public transportation infrastructure is extremely great potential to transform Johor’s economic and living landscape – which powerful in facilitating an area’s growth – it is the is why even His Majesty Sultan Ibrahim catalyst to draw in the population. Why wait for is taking an active interest in IM’s development. the population to catch up? Ultimately, a realignment of focus CHARLES TAN to draw in the population is needed. There is no magic bullet - it is going to take a series of strategic moves, as highlighted above for the people to warm up to IM.

DISCLAIMER: The opinion stated in the article is solely of Charles Tan and is not in any form an endorsement or recommendation by iProperty.com. Readers are encouraged to seek independent advice prior to making any investments.

36 37 Co-working spaces: The real estate model moonlighting as a business incubator What is the modern business owner looking for? Flexibility, cost savings….and community engagement. Lots and lots of engagement which sparks innovation and collaboration.

- REENA KAUR BHATT

Co-working hubs are mushrooming The DreamSpace team, (L-R) Chew Kai Xin, Chan Tze Qing and CS Koh are challenging across South East Asia. The digital the perception that offices are for working and working alone. disruption wave is facilitating the growth of the ‘new corporate’ – startups, freelancers and solopreneurs; all who require space to create and collaborate. It helps that millennials no longer feel pressured to jumpstart a traditional 9-5 career after graduation and many instead venture out to do their own thing. Sceptics might pass off co-working as a fad; can’t freelancers and entrepreneurs just work from home or hunker down in a Starbucks anyway? Most will say, the demand for flexible working environments is strong in the West, but Asian countries and Malaysia, host of benefits, for both the individual Affordability – Its low point of entry in particular, haven’t quite reached the entrepreneur seeking a balanced and and fuss-free leasing process minimises market trajectory seen in the West. fulfilling lifestyle and SMEs who are operation costs for startups and new Dreamspace, a co-working outfit looking to save costs: businesses, a boon for newbies to the based in Iskandar Malaysia begs to business world. differ. Launched in May 2017, the Flexibility – Most offices are open 24 10,000 sq ft co-working branch hours and you get to set your own Streamlining operations - Businesses located in 1Tebrau, just opposite the working hours - Working from dusk to who are looking to expand their upcoming South Key Mall (by Mid dawn, taking 2 hours off to go to the services into a new area can test the Valley) is seeing brisk business, not just gym, 3-day work-weeks; these options waters without breaking the bank – from young urban creatives but various are now possible. there is no need to sign-up for a long- SMEs as well. term lease or pay for office equipment. Productivity - Most freelancers get too The same goes for sales companies Fulfilling business and lifestyle gaps comfortable at home and distractions whose staff are always on the go, such DreamSpace’s Business Development abound whereas coffee shops/ as insurance agents and real estate manager, Chew Kai Xin explains that public spaces are crowded, noisy and negotiators. These sales professionals shared office spaces are a step-up the Wifi is spotty. There are various spend the bulk of their time meeting from serviced offices as it offers more complementing facilities too in shared clients and only require one or two than just a physical work-space. The offices such as printers, meeting rooms days of ‘office time’ in a week, thus fluidity of these set-ups brings forth a and a pantry. employees can take turns to share a booked working space.

38 39 POINTS OF INTEREST

“By 2030, co-working spaces could make up 10-15% of office stock in Southeast Asia, compared to only 1-5% percent today.” REGINA LIM, National Director (Advisory & Research) at JLL

Communication is the currency here Dreamspace’s secret sauce, however, is Something for everyone Kai Xin shares, “Our client base, who consist of mainly SME’s and young its ‘community factor’ which mimics a urban creatives – freelancers, startups and independent professionals love business incubator setting. Tenants are how DreamSpace’s layout and concept allow for the fluid transition between buying into DreamSpace’s USP – The collaborative and focused work. only community-driven shared office There are various products to suit your job scope and preferences – from in JB that focuses on helping startups private working rooms seating 10 people to a ‘hot desk’ in the open area. grow into SMEs. These business To draw in the clientele, we offer various perks – free trials, ‘one-day passes’ owners are always looking for opinions, and the option for companies to customize their own workroom,” Kai Xin adds. feedback and constructive criticism. What better way to solve writer’s block or seek creative inspiration than through conversation? Not only do other tenants provide a great sounding board for creative brainstorming sessions, but they could end up becoming potential clients or business partners too! “Why do you think companies like Facebook and Google favour the open layout office concept? – Creative ideas 1 2 and business opportunities aren’t born in front of a monitor, that’s why,” quips Kai Xin. 1 Tenants could opt for a more public and open space. 2 Professionals can select private desks. 3 SME’s could book an entire room for their staff.

3

Terrance Tang & Shawn Ho Co-founders of TGA Marketing

“We like the variety DreamSpace provides – the private working spaces enable for focused and uninterrupted work. Whereas more relaxed options like the public seating allows you to ease into and mingle with the community. Being around like-minded people has certainly helped us unlock our creative juices! Also, the space and hour flexibility is perfect for a digital marketing agency like us, as we tend to be out a lot.”

38 39 Great things happen when people “Our recent Austin18 Networking collide Under The Stars Night, hosted together When done right, the co-working with the local business association saw experience offers so much more the attendance of SME Directors, angel beyond a work desk and free Wifi, investors, startup founders and local the tenant becomes part of a social entrepreneurs. movement or a community as well. This engagement forges DreamSpace’s weekly social get- relationships and allows bigger togethers and monthly networking and bolder ideas to take shape, events serves as a platform to bring which in turn leads to new business together a diverse group of business opportunities,” Kai Xin explains. people.

6

4 Niall McCourt Founder of CartaPoints

“Dreamspace has played an instrumental part in CartaPoint’s entrepreneurial journey as a fintech startup, right from the incubation stage to the official business launching. From connecting us with the right people and hosting excellent get- together events, to keeping us informed about what’s going on across the country, the platform provided by DreamSpace has been invaluable”.

5

40 41 POINTS OF INTEREST

“Some of the best decisions and insights come from hallway and cafeteria discussions, meeting new people, and impromptu team meetings” JACKIE RESES, Yahoo’s Chief of HR

4 Open spaces near the pantry encourages impromptu discussions and plain old socialising. 5 The ping pong table which doubles as a meeting has seen many heated debates & brainstorming sessions. 6 There’s a bar too!

The power of community and observation, we gleaned how It doesn’t stop there – co-working important engagement is in boosting spaces open tenants up to new tenants’ morale and productivity. opportunities and learning experiences Our tenants and people in general as well. continuously seek acceptance, DreamSpace rents out event encouragement and learning space for the day or by the hour too. experiences and that is why most According to Kai Xin, event space entrepreneurs thrive in nurturing is in demand in Johor as the locals environments. Hence, we go all out in love attending seminars, training and creating a communal culture which workshops. “Tenants are coming in encourages organic interactions and by the droves as our rent is 30-40% genuine friendships. cheaper than what most hotels charge There are no Monday blues at for their ballrooms/auditoriums. DreamSpace,” she quips. It is apparent DreamSpace is leveraging on this that the comprehensive community Kavita demand; we are launching a new event aspect being offered by set-ups such Manager at People360 hall in October 2017 which will be as DreamSpace is just what today’s fully equipped with high-end acoustic working professionals and businesses As a recruitment agency based in fittings and can comfortably seat 100,” are looking for as the robust demand Singapore, we were looking to expand she adds. for such collaborative workspaces our services into the JB market and offer This hive of activity at DreamSpace continues to grow. cross-border work opportunities to the enhances the community experience “There is a long waiting list for Malaysian workforce. We were attracted for tenants as they are exposed to our 1Tebrau co-working space. to DreamSpace’s community concept as it various experts and learning sessions, We are extremely confident in the presents a great networking opportunity, from property investment strategies industry’s potential and will continue which has helped us tremendously in to programming workshops. Taking it to partner with strategic business studying and learning the local job further, DreamSpace hosts a weekly partners to further drive market landscape. On top of that, the location in-house interactive programme too, growth - DreamSpace aspires to be is ideal, easy to find and it comes fully aptly called ‘Good Morning Mondays’ the 7-11 of co-working space, providing office equipped with all the necessary where complimentary breakfast is entrepreneurs with the perfect facilities. served in the pantry to encourage business ecosystem, whenever they tenants to come together and mingle. need it,” beams Kai Xin. Kai Xin shares,“Through feedback

40 41 POINTS OF INTEREST

How will DSR affect my loan approval? You might be wondering what Debt Service Ratio (DSR) is and how it affects your property loan approval. DSR is a calculation of a person’s debt against his monthly income. This is one of the methods banks use, apart from Central Credit Reference Information System (CCRIS) to determine whether or not they should extend a loan to you.

one bank will bite. This is not a wise Debt move, as should one bank reject your DSR calculation: X 100 Income approval, the other banks will know about it, through CCRIS. RM1,800 As each bank has different DSR For example: X 100 = 60% RM3,000 ratios, you must go to the bank that has the highest chance for approval. If your calculated DSR is 60%, you should then apply for a loan at a bank whose DSR is higher than 60%. What happens if a borrower breaches the DSR criteria of a bank? In certain banks, if the borrower can prove that he/she has a high savings amount, the bank may then consider being a bit more lenient and grant an approval. This, of course, is not the norm and happens on a case to case basis. Loan approvals today are not as easy as it was 20 years ago - but if you understand how the system works and practise due care as mentioned above, Referring to the example above, the BNM later introduced a new you will then have a better shot in DSR for this person is 60%. Banks will calculation method, where the obtaining an approval. have their own DSR yardstick. When ‘Income’ component is now based on I was working in Standard Charted nett instead of gross. What are the Bank some 20 years back, the bank implications for property purchasers? used 1/3 income criteria or 33% DSR to As I have mentioned in my seminars, determine loan approvals. At that point if you know how banks operate, this in time, banks were using gross income new calculation method does not really as CCRIS have not been implemented make much of a difference in terms yet. of approvals. Some banks have even After CCRIS was introduced by Bank adjusted their DSR up to 85%. Most Negara Malaysia (BNM), banks could banks have tiered their DSR based now check on an individual’s financial on the value of the property and also MIICHAEL YEOH status, i.e his/her borrowing with applicants’ monthly income. CEO & Founder other banks. From that point on, most The mistake most borrowers tend GM Training Academy PLT banks increased their DSR to 50%, to make is that they do not calculate which means if a person who is earning their own DSR and also neglect to To read more of Miichael’s RM1,000 has a total debt of RM500, his research the different DSR approval articles please log on to loan will most probably be approved. percentages in various banks. Most www.miichaelyeoh.com Purchasers should take note that the will just submit a loan application lower your DSR, the better. to multiple banks hoping that any

42 PB

WCSC 2017: Transforming cities for a better and sustainable living

The 9th International Conference on World Class World Class Sustainable Cities 2017 (WCSC 2017) gave opportunity to urban managers, policy makers, professional and the community to learn of the city transformation that is pertinent to address current and future challenges.

It’s a known fact that the 21st century As cities across the globe swells, is a century of cities. In fact, nearly it’s no surprise that many social and half of the world’s population lives in environmental sustainability challenges the city. According to a report by the arise. Cities face challenges with how United Nations, by 2050, the number to cope with more people flocking is expected to reach to 66 percent in search of social and economic where 2.5 billion people will be added opportunities. The unprecedented to urban population. Living in the city growth in urban population will mean comes with countless amount of perks that the right strategies and actions - better wage, higher standard of living, need to be in place if we are to have exceptional facilities, wide selection of cities and towns that cater to the needs choices and more, and this is probably of the people. Cities and towns in why many people pack their bags and Malaysia will have to meet up with the make their way to the city. public’s basic needs and expectations

44 45 POINTS OF INTEREST

and offer a high quality of life for all earthquake, we are constantly exposed citizens. to flash floods, especially in the city Therefore, it’s crucial for cities centre. “From my observations, the city to reinvent themselves and rethink centre is quite concentrated with no policies that leads to solutions towards proper rescue spaces available during millennial challenges. In order to disaster. But now I believe KL is slowly curb this issue, the 9th International changing and trying to build more Conference on World Class World high-rise buildings and open spaces. Class Sustainable Cities 2017 (WCSC Although KLCC is a leisure area, 2017) was recently held to give but during an emergency, I see the opportunity to urban managers, place being an importance space for policy makers, professional and recovery. So, I think Malaysia needs to the community to learn of the city improve its effort to build more such transformation that is pertinent to spaces, particularly in the heart of KL,” address current and future challenges. said Kubo. By looking at various successful Another important element in experiences locally and internationally, creating sustainable cities is to look the nation can look into the appropriate at the 8-80 approach. Gil Penalosa, and effective actions by learning from the Director and Chair of the Board the past and expediting solutions for of 8-80 Cities in Canada, who also the future. spoke at the conference, shared that Themed ‘Transforming Cities: cities should adopt the 8-80 approach, Design, Nature and Human Lives’, the which basically means designing cities conference looked at challenges faced for children and the elderly. in meeting the demands of an ever- “For me, some of the most important growing nation and achieving a high- elements of a city are sustainable income economy status. mobility, urban parks and public places. One of the crucial efforts in making I believe having these things will make cities more sustainable, including the city a more sustainable one. If Malaysia, is to make buildings and city something is good for the eight-year- planning to be more resilient against old and the 80-year old, then it will natural disaster. Takayuki Kubo, be good for everyone. But, if it’s not, Architect and Senior Researcher of the then it’s not good for anyone,” said Fukuoka Asian Urban Research Centre Penalosa. in Japan, shared on Japan’s innovative It’s important for people to walk, ride building designs which are aimed at bicycle and use public transportations. preparing for natural disasters such as Therefore, having a good pedestrian earthquakes and tsunami. He explained walkway and a bicycle lane will make how Japan thought its buildings, the city a much better place to live in. facilities and public transportations In addition, having a good amount of system were sustainable and up to par, public places also creates a space for but during the 2011 earthquake and bonding among family and friends. So, tsunami, the government realised that it’s important for all cities around the there are some weaknesses to it. globe, including Kuala Lumpur, to have Although Malaysia is not affected an open mind on public places and by serious natural disasters like urban parks.

44 45 Think like a BURGLAR, act to protect your home Ever wondered what goes on in the minds of these crooks when planning a break-in or scoping out potential victims?

- REENA KAUR BHATT

Sure, you might be living in a gated and guarded (G&G) development or there is an intricate CCTV network installed within your home, but a fortified How do burglars plan for break- it takes - from renting a home within enclave does not fully repel crime. ins in residential neighbourhoods, the target neighbourhood, familiarising Shamir Rajadurai reveals criminals’ top particularly G&G developments? themselves with the security guards’ tricks and shares effective measures There are two kinds of burglars - Standards of Procedure (SOP) to to help residents keep themselves and sophisticated and brazen. Many are chatting up neighbours to dig out their loved ones safe. familiar with the latter – he is the information and spying on their parang-wielding goon who blatantly neighbour’s daily routine. attacks a victim or your run-of-the- It is frighteningly easy to rent a mill thief who strikes should the residential unit in most places within opportunity present itself. For instance, the Klang Valley, most landlords only a criminally-inclined odd-job worker, require an Identification Card (IC) and say a grass-cutter who notices an proof of income. unlocked grille or car will strike while Once these criminals hiding under the iron is hot. the guise of tenants have made their Meanwhile, their more cunning getaway with the loot in tow, it is pretty counterparts are resourceful master- easy for them to disappear and lay Shamir Rajadurai minds who bear the intention to low. Savvy robbers will have planned Crime safety specialist commit a crime. Such felons will plan beforehand to cover their tracks their heist down to the last detail and accordingly, making it difficult for cops Shamir advises companies on methods usually have the capital to help shape to track down these bogus tenants. of crime prevention so as not to be targeted by demonstrating how criminals up a character/role. They will do what operate. Connect with him here: www.preventcrimenow.com

46 47 CRIME SAFETY CHECKLIST

What do burglars look out for when Robbers ‘due diligence’ includes targeting a home? going through your rubbish. Did you Most burglars do not want to deal just throw that plasma screen TV How do burglars fool with any fuss or possible identification, box or your new laptop casing by security guards? hence they will only make a move when your trash can outside? These signs 1. Pretend to be a police officer no one is at home and will religiously are reason enough for a desperate – an undercover investigation check for a window of opportunity. criminal to break into your home. It is done by a local newspaper in There is one classic trick burglars wise for residents to cut up any boxes Jan 2016 revealed that it is pretty swear by when scouting for a target or coverings of expensive gadgets easy for someone to purchase home – they will study the main grille; and bin them properly; throw them at items supposedly exclusive to is the lock placed on the outside or public dumpsters or just plain recycle the police force. the inside of the grille? A padlock on them instead. 2. Pose as a delivery guy – this the outside indicates that no one is at Does owning a guard dog make a is especially effective during home, otherwise, it will be locked from difference? It depends on the type of festive seasons, most guards will the inside, as depicted below: neighbourhood. In posh residential not question someone bearing areas, where burglars are certain hampers or gifts. that homeowners will have a stash 3. Drive an expensive car – it is a of valuables at home, having a dog matter of first impressions, all is a secondary measure as it can be a burglar need to do is smile easily drugged. Whereas in typical and wave. Guards are not to developments, a burglar will think be blamed entirely for gross twice as he might think it is not worth negligence; careless residents the extra effort – there might be themselves have contributed to nothing of value to steal anyway. the problem. Many forget their An interesting option for resident cards and will cajole the adventurous homeowners is to rear guards to wave them through a goose! I learnt this tactic from the ‘this one time’. After a while, kampong-folk – a goose will only the guards will see no harm in recognise its owner and it gets very waving in a ‘friendly’ face. violent towards intruders, besides creating a total ruckus.

CRIME STATS

1. Malaysia’s crime index recorded a 4.6% growth from January-April 2016 due to an increase in property crimes, which comprised 12,216 motorcycle thefts, 6,662 house break-ins and 3,656 cases involving cars. 2. Snatch theft in Kuala Lumpur has risen significantly, informed KL’s deputy police chief, Datuk Mazlan Lazim – as of May, 348 cases have been reported in 2017 compared to 234 cases during the whole of 2016. 3. Based on police statistics, nearly 4,000 children went missing in 2014 and 2015 throughout Malaysia.

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Can you share examples where the concept of G&G developments When shopping for a home, take note of: sometimes backfire? 1. Street lighting at night - Are there many blind corners? A prime example is when the police are 2. Neighbourhood’s landscaping – Too many trees and large called to help circumvent a crime and shrubs are a bad thing as it gives thieves/criminals more they actually have trouble accessing cover and limits ‘eyes on the street’. the neighbourhood or residential 3. Placement of benches at playgrounds/parks – They must be strategically strata building. Some developments, placed for parents to watch over their kids and not just serve an aesthetic especially high-end condominiums purpose. have really strict entry rules – it doesn’t matter if you are a police officer on duty or out to make an arrest, you will cul-de-sacs are a double-edged sword What are your tips for keeping safe in only be granted entry to a suspect’s as they make escaping tough too. The residential neighbourhoods? unit should you possess a warrant. blocked-up street prevents a victim Nothing beats engagement and the This is why luxury condominiums are from running away and makes access power of the people when it comes favoured by criminals, especially credit difficult for emergency services. to combating crime. Get to know card scammers, online fraudsters and Also, residents living on a cul-de-sac your neighbours and have meaningful drug lords. Residents might complain tend to let their guard down – Usually, conversations with them, only then can of unsolicited behaviour to the cops, you will look out a window when a a genuine bond be built. but should there not be sufficient car passes by your home but the cul- Your neighbour is the one who will evidence (which can only be gleaned de-sac resident will assume it is just take action if he/she notice anything by searching the suspect’s residence), someone who made a wrong turn. suspicious or call the police if they the suspect can only be detained for sense criminal activity. At the very 24 hours. If there is no order obtained Why is it so easy for criminals to least, they will help pick up your from a Magistrate, these suspects are abduct innocent citizens from newspapers and water your plants then free to go. “supposedly-safe” areas? while you are away. At the other end of the spectrum, Susceptibility to crime all boils down to Forming a Residents Association many residential neighbourhoods have negligence – guarded developments (RA) is the best tool for neighbourhood flimsy structures for guardhouses, provide a false sense of security engagement. Residents were plagued making them easily penetrable. Should and most people take for granted with numerous break-ins in my own you drive around the Klang Valley, you that physical barriers and manned neighbourhood, Section 14, Petaling will notice that many ‘guard houses’ surveillance is sufficient to deter Jaya a few years back. Having had consists of just a large umbrella and a crime. One still has to be aware of their enough, the residents banded together stool! surroundings at all times and keep an and formed an RA where we took turns The first point of access is always eye out for suspicious behaviour. to patrol the neighbourhood. the guard house and if the design is Unmonitored online activity and We even trooped down to the local not secure, guards are basically sitting excessive sharing on social media have police station and enlisted the help ducks. Most neighbourhoods employ further compounded the problem. All a of the Jabatan Pencegahan Jenayah foreign security guards who are not felon has to do is to hit up their target’s & Keselamatan Komuniti (JPJKK), allowed to possess weaponry - they Facebook account and they will be able who were glad to join us in scheduled can only hold batons and merely to determine a person’s daily routines, patrols and hosting educational safety act as gatekeepers. How can they where his child goes to school or when programmes for residents. defend themselves against criminals the family is on a holiday by going Registering our RA with the local who come bearing knives, parangs or through the comments section. Parents PRDM and local municipal council has worse, guns? especially should be a good role model proven to be a great move – it goes Besides that, many G&G and inculcate safe online practices a long way in motivating residents developments favour the cul-de-sac among their children. Meanwhile, to play a more active role in crime design or a dead-end street. Although millennials should learn how to keep prevention and true enough, the crime these are safer for children to play in vital information private and utilise free rate in S14 has dropped to an all-time as there is only one entrance for traffic, internet safety tools. low.

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Exterior wall design ideas Hit a brick wall when it comes to exterior wall designs? Check out our exterior wall ideas and handy tips for a fresh-looking facade.

It’s no secret that the exterior house the look of your exterior wall is only design of your home can have a limited to your imagination (and significant impact on the value of your council regulations of course). When home, so if you’re renovating for profit selecting cladding consider the period it’s important to consider your exterior of your home, and the homes in your wall designs. Whether you’re unsure neighbourhood, as well as the climate on what materials to use, or need to you live in. decide on colour, here are five exterior wall design ideas and tips to help you Exterior wall design colours refresh your home’s facade. The colours used in the exterior wall design of your home can have 2 a dramatic effect on the overall appearance of your home, and play a role in the kerb appeal of your property. Aesthetics aside, the choice of colour for your cladding also influences your home’s ability to absorb or reflect heat. Australia’s climate is both harsh and diverse, and generally it’s preferable to use lighter colours or reflective finishes to reduce heat absorption. However, darker cladding can be used with high-quality insulation, and can also be beneficial in colder climates or if your home receives very little sunlight. 1 Choosing the right exterior wall tiles Materials for exterior wall When you’re selecting exterior wall tiles for your home, and your Pinterest designs 3 From weatherboard and shingles board is chockers with ‘house outside to brick and exterior wall tiles, the wall design pictures’, it can feel a bit materials used for your exterior walls overwhelming. When it comes to are collectively referred to as ‘cladding’. choosing the right exterior wall tiles Your choice of cladding can have a the key is to consider the style and significant effect on the environmental aesthetic of the rest of your home performance of your home – or to put and keep it consistent. If you need it simply, your energy bills. to keep your costs to a minimum, The range of textures, styles, and avoid elaborate exterior wall tiles with finishes available for cladding means patterns.

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1 There are plenty of colour and material options when it comes to designing your exterior wall. Picture: Getty 2 Stone tiles are generally one of the most expensive exterior wall facades. Picture: Getty 3 Darker cladding can be beneficial in colder climates. Picture: realestate.com.au/buy 4 When it comes to choosing the right 4 exterior wall tiles, the key is to consider the style and aesthetic of the rest of your home. Picture: Getty 5 Affordable house front wall tiles don’t have Budget savvy exterior wall tiles Save with corrugated steel to compromise on style. Picture: Getty Bringing your exterior wall designs cladding to life on a budget doesn’t mean you Corrugated steel is becoming an need to compromise on style (even if increasingly popular cladding option you have expensive taste). for contemporary homes. Incredibly Stone tiles are generally one of the versatile, weather and fire-proof, most expensive exterior wall tiles, and available in a range of colours, however if you opt for tiles that are corrugated steel is quick and easy to a maximum of 20mm thick, you can install which helps keep costs down. easily attach them to external brick, Despite being a non-renewable besser, or concrete walls. The best bit, resource, steel is also 100% recyclable, this wall tiles design looks just like real making it a smart choice for those stone boulders without the cost. building sustainable homes on a budget.

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This article was sourced from realestate.com.au

50 51 9 best wardrobe organising ideas to steal

Turn your wardrobe into a neat freak’s dream come true with the best closet organising tips from the pros.

If you don’t have a good organising system in place, it’s likely your wardrobe is an overwhelming mess that sucks up your clothes and accessories making it hard to choose outfits, find items and even consider de-cluttering the space. Here, a range of professionals – from interior designers to fashion types – share their top wardrobe organising tips for a clean, well-organised wardrobe. In other words, you too can have a space that’s easy to maintain and enjoyable to select outfits from.

1. Personalise your solutions “I work with a lot of clients on designing new wardrobes, the biggest consideration in this is how do they like to use the space. For example, if they like to ‘fold’ jeans, or like myself, do they prefer to hang them. If hanging is their thing then more ‘half-height’ hanging space is best. Shoes are also a big challenge when trying to fit everything into your wardrobe, I personally like to store my shoes in clear plastic shoe containers as they are stackable. This means I can see which shoes are in which 1 box and it protects them from scuffing each other.” – Greta Unkuri, interior designer at GU Interiors

2. Create order “Store your most-used items at eye level and use the same hangers throughout for a clean look that will help you stay organised. Remember to face hangers the same way, colour code or item-store your clothes to make everything easier to find.” – Christie Turvey, founder of Neue Blvd

3. Consider wardrobe lifts “Wardrobe lifts are great for high ceilings, limited storage or short clients. They allow you to use the full height of a room or robe for hanging space. Operable either by pulling manually on a rod or a motorised device, the rail moves down to your level making higher hanging cloths easily reachable. Utilising more space for hanging means your clothes are less crowded, which keeps them in better condition by reducing creasing and increasing ventilation”. – Kate Connors, designer and owner at Kate Connors Interiors

4. Use Pliio Pliio, or folding filers, are your drawer solutions for life! Rather than folding T-shirts, tanks and sweaters top to bottom in a drawer, use a folding filer and organise these items from front to back in a drawer, so that every item is visible at first glance. 2 – Lisa Adams, designer and CEO at LA Closet Design

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1 An organised wardrobe space helps to create an organised mind. Picture: realestate.com.au/buy 2 Use the same hangers throughout for a clean look that will help you stay organised. Picture: Supplied 3 Use a folding filer rather than folding T-shirts, tanks and sweaters top to bottom in a drawer. Picture: Supplied 4 Storage baskets are fantastic and will look nice if matching. Picture: Supplied 5 Use a towel bar as your scarf rod. Picture: Supplied

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5. Use the one-year rule “If you haven’t worn it in a year, get rid of it. No matter what it is or how expensive it was, the chances are you will never wear it again.” – Leeann Edelmuth, owner and buyer at Marshmellow Boutique

6. Style your space “An organised space helps to create an organised mind, so it’s worth putting in the energy creating a nice space to store your daily essentials. Keep the wall tones similar to the bedroom, consider using luxe wallpaper or a colour on the walls and invest in nice coat hangers. Storage baskets are also fantastic and will look nice if matching. If you can customise drawers either in joinery or even a stand-alone chest to store away small items, your zone will always look more organised. Try hanging clothes in colour blocks and store shoes socks and ties – any small messy-looking items – away in baskets or cupboards. If the space allows, a central ottoman is great to sit on whilst putting on shoes and can also double as additional storage space.” – Justine Wilson, director and principal stylist at Vault Interiors

7. Ensure adequate lighting 4 “In order to be able to see all of your items and keep things in good order, you need good lighting! Lighting is key to making your wardrobe more glam and grand yet practical, too.” – Christie Turvey, founder of Neue Blvd

8. Hang scarves “A scarf rod is a design element that I would incorporate into my luxury closets; thus, it qualifies as one of my favorite wardrobe organising ideas. Use a towel bar as your scarf rod! I encourage my clients to hang their scarves as opposed to folding and piling them into drawers, so they are visible and apt to be worn.” – Lisa Adams, designer and CEO at LA Closet Design

9. Use non-slip hangers “Go out and buy yourself black velvet hangers. They’re an amazing space saver and your clothes won’t fall off the hangers when you’re looking for something to wear – my pet hate when I’m in a rush to get dressed.” – Leeann Edelmuth, owner and buyer at Marshmellow Boutique

This article was sourced from realestate.com.au 5

52 53 5 tips to help secure your DREAM RENTAL The rental market can be an incredibly competitive space; here’s how to make sure you stand out from the crowd at your next open house.

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Living with your mates in a rental includes identification, pay slips, and 1 Think you’ve found your dream rental? The work has just begun! property can mean a ton of good if at all possible, as many glowing 2 Following these 5 tips should see you times, and the first step – finding a references as you can muster. moving into your own place in no time. place – is easy. It can be done online, on your phone, or while waiting for the 2. Respect the reference barista to complete your coffee order. A positive reference from your previous But the second step, securing your landlord will go a long way to gaining new lease, is where things can get your new landlord’s favour. One way complicated – with packed open for to ask for a reference is to write it up inspections and even bidding wars to yourself, send it in an editable format, contend with. Get the situation under and ask, “Would you mind reading this, control with these handy tips. making any changes you’d like, and signing it for me?”. 1. Prepare your paperwork If it’s your first-time renting, don’t Getting yourself organised is one despair – get creative and ask for a thing, but the challenge is getting your reference from your employer instead, flatmates to provide you with their or consider asking a family member paperwork. Rental properties can to be your guarantor, who will be move at blistering speeds, so it pays to responsible for paying the rent if you have everything prepared in advance. default. The list of essential documentation

54 55 CONSUMER AWARENESS

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3. First impressions count An extra $5 or $10 a week over Either you, or one of your housemates, the asking price, paying some rent should attend the property inspection. in advance, setting up a direct debit “Dress sharp and When you do, be on time, and on and/or signing a longer lease if you’re point – dress sharp and make a good comfortable with that, can potentially make a good impression – it’s just another way to all help get the deal over the line. help the agent choose you over your impression – it’s just rental rivals. 5. Follow up with a phone call It’s all about getting the agent’s While it feels like nobody calls anyone another way to help attention, in a good way, without being anymore, following up on your rental pushy. So turn on the charm, and who application is one exception to the the agent choose knows – you might even get away with rule. Much like after a first date, when asking for a little discount on the rent. to call the agent is debatable, but we you over your rental recommend no more than 48 hours. rivals.” 4. Make an offer Same as at the inspection, let the Rental discounts are realistic when agent know you’re keen (without you’re the only one applying, but not seeming desperate) – just be helpful – so much when competition is fierce. you’re calling to confirm they received While nobody wants to be on the your application, and to see if they frontline of a bidding war for their next would like any more information. rental, the fact is, if you’re staring down All this brings us to the third step, stiff competition, and are hoping to tip making the most of your new digs – get the scales in your favour, making an ready for fun with friends and enjoying offer is a valid strategy. having your own place.

This article was sourced from realestate.com.au

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7 CLEANING MISTAKES that ruin the taste of food From using the wrong washing-up detergent to not cleaning pots and pans correctly, there are (surprisingly) a raft of cleaning mistakes that can 1 ruin the taste of your food.

When it comes to cleaning the vegetable or canola oil all over it after 1 Olivia knows a thing or two about cooking delicious meals. Picture: Phu Tang kitchen, unfortunately simply doing a use – this stops it from going rusty.” 2 Woks can help you cook the most delicious meals thorough clean is not always enough. – if you don’t wash them with detergent, that is. Olivia Andrews, culinary creative Picture: Getty director and founding member of Marley Spoon Australia shares seven cleaning mistakes that can ruin the taste of your food. recommend washing them in a 1. Not cleaning chopping boards separate dishwasher cycle to get them thoroughly 2 sparkling again.” “Cleaning your chopping boards properly is essential – nobody wants to 6. Not cleaning oven spills promptly chop up some fruit, only for it to taste 4. Overloading the sink when you’re “Don’t be lazy – cleaning up the spills in like garlic! washing dishes the oven (and stove top) will help you “When you’re cooking, always chop “One of my biggest gripes is the way in the long run. your meat (especially chicken) last, and some people wash their dishes in the “If you avoid it, they’ll bake onto scrub that board with hot water.” sink. If you’re chucking everything stainless steel surfaces and infuse into into the sink together, the dirty soup your food. Scratches and smelly food? 2. Not removing charred bits from the you’re making isn’t going to really clean Yuck!” grill anything. “It’s actually okay not to clean your grill “Without a proper rinse after the 7. Using bleach in the kitchen to spotless. Over time, regular use will lather stage, a layer of carcinogenic “I recommend using only warm water season it with barbecue flavours. soap stays on the dishes, which is bad and natural ingredients – think vinegar, “But don’t leave bits of food on there. for your body – and for the food. lemon juice, baking soda – to clean Give it a wipe down (don’t scrub it, “Doing the dishes is a lot like washing your fridge and sink. though).” your hair – would you wet, lather and “We want to make sure these areas then just leave it? Never. Also, [try are super clean and sterile, but using 3. Cleaning a wok with detergent to] keep it natural when it comes to chemicals can leave behind a strong “Another rule many people don’t detergents.” smell that will get into your food if you know about: don’t wash a wok with don’t rinse surfaces very carefully.” detergent. Woks need to be seasoned, 5. Not giving the range hood any TLC too, and you should instead rinse a wok “Have you touched your range hood This article was sourced from with warm water and then wipe a little lately? They pick up a lot of oil – I’d realestate.com.au

56 PB RESEARCH DATA

JOHOR BAHRU Real Estate Highlights 1H2017 Knight Frank provides latest updates on the property landscape in Johor.

Holdings, has since widen its target HIGHLIGHTS Market indications According to 1Q2017 data from the market to include global investors. National Property Information Centre As of May 2017, Country Garden has As of 1Q2017, total cumulative (NAPIC), the volume and value of already handed over 132 residential committed investment in transactions for Johor fell by 4.6% and units under Kylin Apartments to Iskandar Malaysia stands at 24.2% respectively, when compared to the respective owners from various RM227.67 billion. 1Q2016. countries. There was a 6.8% decline in the Despite being impacted by the transaction volume for the residential capital control policy, the developer sub-sector while the industrial sub- with strong financial and construction Aramco and Petronas have sector, bucked the trend by posting background, has commenced work on signed a RM31 billion deal for a sharp increase of 75.5% (1Q2016 to the second phase which includes three the RAPID project. 1Q2017) in transaction value. international standard 18-hole golf courses, luxury hotels and low-density Market highlights residential buildings. Bukit Pelali and Bandar Following earlier reports of Saudi Jade Palace, another Chinese Penawar township Aramco’s withdrawal of interest in the development by Greenland Group, has developments recorded strong RAPID project in , all doubts also been affected with its construction take up rates due to proximity were put to rest when it signed a mega progress slowing as the developer to the RAPID project. deal worth RM31.1 billion with Petronas reviews the project to adapt to the in February. challenging market condition. In March, news of China’s bid to As of 1Q2017, total transacted curb capital flight broke and Forest Residential value of industrial properties City’s rapid growth hit a speed bump. The residential sector continues to increased 75.5% year-on-year Some China-based buyers suddenly remain dominant in 1Q2017, accounting (y-o-y). found their investments untenable. for 63.1% of the total transactions in The master developer, Country Garden Johor, although the transaction volume was 6.8% lower y-o-y.

PB 57 FIGURE 4 Total cumulative investment in Iskandar Malaysia (2006-1Q2017) 2H2017 will see the opening of 3 new retail malls in Johor Bahru which are the AEON , Paradigm Mall and IKEA. Paradigm mall is expected to open its doors in November and is set to be the largest regional mall in Johor with an estimated 1.3million sq ft of net lettable space. IKEA will be opening its first Malaysian outlet outside of Selangor around December. Located next to the bustling Aeon Tebrau City, it is a highly anticipated development and is likely to attract Source: Napic/Knight Frank Research large crowds upon opening.

Office The most active district is Johor RM4.6 billion, offers affordable homes The total supply of purpose built Bahru with 49.5% share in transaction targeted at local home-buyers. The office space in Johor was recorded at volume, followed by districts of Batu first phase of the project is expected to about 12.22 million sq ft as of 1Q2017, Pahat and with 10.0% and complete by 2020. circa 4.7% increase y-o-y. The bulk of 8.6% share respectively. In terms of In January, Haute Property Sdn Bhd, supply totalling circa 9.45 million sq property type, terraced houses proved a JV between BRDB Developments ft is located in , to be most popular, accounting for 61% Sdn Bhd and UEM Sunrise Bhd, handed followed by with 0.89 of total residential transactions in the over completed units for Phase 1 of million sq ft supply. Johor Bahru. Emerald Bay. The 111-acre freehold The supply of office space is set to Spurred by activities in the PIPC project in Puteri Harbour has a GDV of increase over the next few years as and RAPID projects, two residential RM4 billion and is being developed in on-going developments in Johor Bahru developments have been launched in 12 phases over a period of about eight City Centre and Medini move closer to the surrounding area. years. The units sized between 1,916 sq completion. Taman Sri Penawar by MB Group ft and 8,331 sq ft are priced from RM3.1 Menara JLand by Johor Land Berhad is a 470-acre township development million to RM10.5 million each. is set in a prime city centre location. with an estimated gross development The Grade A office development with value (GDV) of RM1.9 billion. Located Retail GBI Gold certification and built to in , Phase 1 of the As of 1Q2017, total retail space in Johor MSC specifications, represents a new development, offering landed stood at 18.97 million sq ft, a 3.5% generation of office space catering residential units and shophouses has increase y-o-y (1Q2016: 18.33 million to discerning tenants in the Johor been well received. sq ft). Two-third (65.5%) of the retail Bahru market. Standing at 37-storey, The other project, Bukit Pelali @ stock comes from Johor Bahru. Overall the office tower with about 262,592 Pengerang, is a joint-venture (JV) occupancy dipped marginally to record sq ft NLA comes with an observation between Astaka Padu Sdn Bhd and at 75.6% in 1Q2017 (1Q2016: 75.9%). deck and cafe at the roof/ top level. It Saling Syabas Sdn Bhd. This 363-acre SKS Mall by SKS Group commenced is slated for completion by December mixed use township development, operations in March. Located in Desaru, 2017. with estimated GDV of RM2.3 Bandar Penawar, the 2-storey shopping billion, features landed and high-rise mall on a 6.16-acre site has a total Industry residential units as well as commercial built-up area of about 130,680 sq ft. For 1Q2017, the industrial sector in and educational facilities. The retail lots sized from 236 sq ft to Johor shows different trend where the In March, Country Garden Holdings 1,921 sq ft are currently about 80% volume of transactions declined (1.8%) Co Ltd, together with Damansara occupied with average rentals ranging whereas the value of transactions Realty, launched their JV project in from RM5.00 to RM9.00 per sq ft per increase significantly about 75.5% Tampoi. Spanning across 53 acres, month depending on location, sizing compared to similar period in 1Q2016. Central Park with GDV estimated at and other factors. In terms of volume of transactions,

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FIGURE 5 Retail supply and occupancy trend in Johor Bahru (2006 - 1Q2017) The retail sector is experiencing a rapid growth with at least three new malls expected to open its doors by end of the year. Aeon Corporation (M) Bhd is planning to expand in Johor with new sites in the pipeline. Most of its existing malls are doing extremely well with large crowds during weekends and festive seasons. The trend is expected to continue into the second half of the year for most of the existing malls in Johor Bahru, especially those located in the suburban areas and city fringes. Source: Knight Frank Research / NAPIC The industry sector is also entering a challenging period with many District of Johor Bahru (53.6%) and Straits of Johor and the 4–island completed schemes experiencing Kulaijaya (14.3%) are leading among Forest City project over the past five difficulty in attracting purchasers and other districts while for value of years. Potential buyers are mainly tenants, especially for the terraced transactions, District of Johor Bahru from mainland Chinese whilst locals and semidetached factories. Asking recorded 53.4% from the total value, have generally been selective on these rentals of these factories have been followed by Kulaijaya (18.7%). projects especially with alternative competitive and generally declining BMW Group has launched its choices from local developers. Interest with anticipation of an impending new regional parts and distribution in high-rise residential properties slowdown in the sector. Despite the centre. The RM130 million facility on has somewhat slowed down with the gloom, there has been an increase a 72-hectare land is located within financial institutions imposing strict in inquiries for industrial lands, large the Free Trade Zone of Port Tanjung lending policies on these projects. warehouses, logistics hubs and Pelepas (PTP) in Senai and provides Local developers are bracing for distribution centres in areas such as support to 23 countries in the region an extended quiet period as potential Pengerang, the PTP and Senai. including Malaysia, Singapore, Thailand investors / buyers are now spoilt In conclusion, with the exception of and Indonesia. for choice with numerous on-going the retail sector, all sectors are entering Country Garden Pacific View Sdn projects giving generous incentives a challenging phase with existing Bhd is set to build a RM2.6 billion and rebates. Nevertheless, we noted stocks to clear and new space to be Industrialised Building System (IBS) that the secondary market for landed taken up. Prices and rentals are not factory on a 109.5-hectare land in properties below RM600,000 per unit expected to hold up and likely to take a Forest City. The factory, planned to are still in demand. dip to fill up the vacancies. have a total of 12 lines, with three On the office sector, new office On a brighter note, developments in currently in operation, will become the buildings are being constructed in the Pengerang are expected to continue world largest IBS facility. city fringes and also in Iskandar Puteri as lands are being acquired for especially Medini being the hotspot. expansion of the oil and gas refineries Outlook They are expected to be completed and processing facilities. Recent news The Johor property market has been in the next two to three years and will of big investments coming into the lacklustre since the beginning of the add to the existing office space in the RAPID project has turned the area into year especially with China’s capital city centre. Overall office rentals have a bustling hub. Road infrastructure is controls on outflow of funds to generally improved amid steadily. currently being upgraded and will only overseas investments. However, we note that several new serve to bring in more impetus to the China developers have been Grade A offices with Green Certification region. Demand for the limited housing investing heavily in massive residential and MSC status have already set new currently available has made prices projects, namely in the Danga Bay benchmark with asking rentals above there match other districts closer to area, along the coastal areas of the RM4.50 per sq ft per month. Johor Bahru.

DISCLAIMER: The data above represents the findings of Knight Frank Research and is not in any form and endorsement or recommendation by iProperty.com. Readers are encouraged to seek independent advice prior to making any investments

58 59 Iskandar Malaysia’s untapped intricacies Over the past few years, investors have watched the southern region of Malaysia like hungry hawks. Quite possibly the country’s biggest undertaking in recent times, Iskandar Malaysia’s (IM) final silhouette is finally gaining more visibility, drawing investors from within the country and beyond. In an email interview, Datuk Ismail Ibrahim, Chief Executive of Iskandar Regional Development Authority (IRDA) updates iProperty.com on its activities in IM.

How has the progress been so far in the third phase which is to sustain and IM? innovate until IM’s development reaches IM recorded a total of RM242.42 billion maturity (2016 - 2025). The key for IM in cumulative committed investments now is to ensure consistent growth in its from 2006 until August 2017. Of this economy, social and environment. total, 55% or RM131.09 billion represent The ultimate focus is now towards investments that have been realized. addressing social inclusiveness, The local investors’ confidence in responsible and equitable wealth the development of this economic distribution, green economy and climate region has been unwavering, with 61% change. of the total cumulative committed Taking cognizance of the changes, investments, or RM149 billion transformation and concerns throughout contributed by the local investors. the world, the underpinning strategic The balance RM94 billion or 39%, framework set earlier are consolidated were contributed by foreign investors. to form a holistic ecosystem which we Among the foreign investment, the top call the Circle of Sustainability. This five countries with highest cumulative is a resilient ecosystem anchored by committed investments into IM from three core elements comprising of 2006 to August 2017 are China, wealth generation; wealth sharing and Singapore, US, Japan and Spain. inclusiveness; resource optimization and As mentioned, IM’s development low carbon. pathway is divided into three phases. All these leads to sustaining the The first phase is focused on planning growth, strengthening linkages and foundation building (2006-2010); between economic clusters, increasing second phase is on strengthening and opportunities for skilled jobs and labour generating growth (2011-2015); and productivity in line with growth targets, this year, we have already embarked on as well as embedding environmentally-

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Achieving balanced growth is important for IM as it will ensure that the economic and social benefits are equally distributed to the whole region.

Please do highlight the achievements of IM. Since its inception, IM has seen a lot of development in hard and soft infrastructure. For instance, the completion of the Coastal Highway has lessened the travelling time between Johor City Centre and Iskandar Puteri from 40 minutes to within 20 minutes. Manufacturing has always been the stronghold sector in IM. However, for the years ahead, the creative, healthcare, financial services and logistics sector will continue to be the focus areas for new investments in 2017. We will also push IM up to the higher levels of the manufacturing value chain, friendly components in the promoted and we want world-class manufacturers economic sectors. to recognize the value propositions that Currently, IM’s development is IM has to offer. focused on the 5 big moves as per the For this purpose, we have made Comprehensive Development Plan ii. it clear that we target technology- These big moves identified will contribute intensive, and environmentally-friendly towards our vision of IM as a strong and manufacturing activities. We are sustainable metropolis of international moving out of that phase where our standing. The big moves are: manufacturers are dependent on labour intensive activities. The investments 1. Inclusive IM that we approve must also be able to 2. Greening IM create a multiplier effect, especially in 3. Destination IM the creation of new high-income jobs, 4. Port of IM and further business opportunities for 5. IM Urban Observation the local population. Therefore, from the very beginning, Various programmes under these 5 we worked on preparing the big moves have been identified and are necessary infrastructure to support in various stages of implementation. the manufacturing sector. We have These programmes will support our improved connectivity between key aim of achieving balanced growth commercial and industrial areas within where urban development contributes IM, encouraged investment partners to towards improved and a quality built build lifestyle eco-systems around these environment while taking every effort to commercial and industrial centers, and optimise usage of resources, protect and translated the higher standards required conserve nature which are important for of the modern manufacturing sector the sustenance of the region. into workable solutions.

60 61 For example, we have built and initiatives to spur socio-economic upgraded major highways linking the activities have helped increase various flagship zones in IM, allowing household income levels by 14.4% in businesses to get easy access to 2014 compared to 2012. logistics facilities such as our three Recently, IRDA announced a total seaports and the international airport in of RM20 million allocation for the IM Senai. At the same time, we have also Professional Fund (IMProF) and RM15 rolled out plans to manage a low carbon million for the Bumiputera Entrepreneur output in IM, and we are working closely Development Fund (DPUB). These with the authorities and investors in initiatives are to help talents enhance making sure that while we encourage their skills and for entrepreneurs to high-end manufacturing, we must also grow and expand their businesses. minimize the negative impact of such IM is also one of more than 500 activities on our living environment. cities, 100 states and regions and 5,800 In addition, about 717,547 jobs have companies that report data annually been created since 2007 in various to the UK-based Carbon Disclosure economic sectors including the services Project. The Carbon Disclosure Project sectors such as logistics, creative, runs the world’s largest climate change tourism and education, since the reporting system, and IM under its Low inception of IM. Besides employment Carbon Society Blueprint 2025 has opportunities, IM also benefitted the been reporting city’s climate-related people of Johor and Malaysia through data to this agency since 2015. Moving the various business opportunities forward, the most important agenda for entrepreneurs and SMEs. These for IRDA would be to ensure that the

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economic growth in IM is sustainable. of 717,547 jobs have been created in IM, This is not limited to just ensuring a both in the nine promoted economic steady flow of new investments into sectors, including other sectors such as the economic region, but more critical property, construction and retail. is the development of an ecosystem It is targeted that by 2025, IM will that allows businesses to grow and create 817,500 job opportunities and prosper, communities to participate looking at the recent IM population, we in and benefit from the progress, yet are still in need of talents. without causing damage to the natural This is when the basic need for environment. residential properties to accommodate the growing population in IM becomes What has been the challenges for IM a necessity. The talents may not only and how did you overcome it? be locals from Malaysia but also the The journey has been a great one and professional foreign talents that will of course challenging at times yet work and live here in IM. The statement satisfying. We continue to be guided on housing glut is inaccurate in that the by our Comprehensive Development housing market is highly segmented Plan (CDP) that was developed way from the very low end to the luxurious. back in 2006 and further enhanced If there is any glut happening, it is in 2014. The CDP aims to ensure limited only to the high end segment sustainable and resilient growth which mainly comprise of serviced for IM with economic growth to be apartments; which by the way, are balanced with social inclusiveness commercial as opposed to residential. and conservation of the environment; There may be a slowdown in demand as well as a diversified portfolio of for the high end landed segment as well promoted economic sectors that but, the supply is also not as superfluous comprise of core and emerging sectors as that of serviced apartments. Further as among the principal tenets. down the line, the medium, affordable More importantly, we are blessed to and low cost segments are where have the full support of the federal and demands are not being met at all. state governments, the local authorities, The IM project will bring workforce of and our key stakeholders from the all levels in a pyramid-shaped structure. private sector and local communities. As such, more supply is required as we go down the housing market There has been a concern of oversupply spectrum. By 2025, it is estimated that in Iskandar. Your comments, please. an additional 500,000 units of housing IM is projected to have 3 million are required. Only, supply will have to population by 2025. The development follow the pyramid-shaped demand. of residential-based property is an Even now, there is a dearth of housing intention to ensure that this region in the price bracket of RM150,000 to is in a state of readiness to meet the RM450,000 which the majority (50%) housing demands as IM moves towards of the population can afford. being a preferred destination for locals The issue which should be and expatriates to work and live in. acknowledged is a mismatch of demand The growth of investments in versus supply and pricing versus IM has contributed towards the affordability, purely due to commercial increase in economic activities and reasons. Therefore strictly speaking, correspondingly, further demand for there is no such thing as a housing glut talents from Johor. Since 2007, a total in IM.

62 63 Legal and physical DUE DILIGENCE checklist

What is Due Diligence? Due Diligence in regards to the transaction of property refers to the reasonable steps taken by a person to keep themselves and their property safe, whether in a buying or selling transaction. Why is performing due diligence important? Because without doing so, you could face many issues which could have easily been prevented right from the beginning of your home ownership journey.

Here, Jimmy Kwok shares with us the With title essentials of doing your own legal and For properties with title, the ‘Title physical due diligence. These measures Deed’ is the ultimate document which taken will ensure you a happy and registers the ownership name and all trouble-free home buying experience. particulars of the property, together with any restrictions or encumbrances Legal due diligence to its sale, such as land office or state The basic element you are looking for consent before sale. in doing your own legal due diligence is the fact that the ownership name Without title for the property is in fact as stated, Note that if you purchase directly from and the property will be free from a developer and the project is still in encumbrances. Request a copy of the the construction stage, the new project documents mentioned below from the will not have a strata title yet because agent or vendor and hold on to them the developer will only submit the for proof of ownership. There are two application to the land office after the categories here: Those ‘with title’ and completion of the construction. those ‘without title’. Another more troubling scenario Jimmy Kwok is an Advocate is the title is yet to be issued by the and Solicitor of the High relevant authority, which can be Court of Malaysia. As a attributed to a number of reasons. To qualified lawyer with over check here, ensure the vendor’s name 10 years of experience, he corresponds to the name in the latest is also the co-founder and Sales & Purchase Agreement, as well partner of legal firm SP Chen, as the Deed of Assignment (By Way of Leong & Partners, which Transfer). focuses on conveyancing, corporate and commercial legal services to a wide range of cross-section corporate and individual clientele.

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transaction. This can range from leakages, wall cracks, malfunctioning power-points etc. Your lawyer can put down as a condition that all these items are to be repaired prior to the completion of the sale & purchase transaction. If you don’t do so, by right, the property will be sold in an ‘as is, where is basis,’ and it will be you who will have to pay for the rectification works later!

Fixtures & fittings Likewise, check all fixtures and fittings and make a list: List, number and describe the contents. Specifics like make and model to the location of installation are all important. Get confirmation from the seller that all these items will be included with the sale of the property. If you don’t take the initiative here, the seller has no Physical due diligence legal obligation to attach the list of “Your lawyer can Doing your own physical due diligence fixtures and fittings to the offer to for a property means physically going purchase, and the consensus would put down as a out to the premises to see with your be that the property is sold in an ‘as is, very own eyes. See, note down and where is basis.’ condition that all provide for the seller to rectify: all defects and rectification works needed, Tenanted or vacant these items are to all fixtures and fittings which are to be Taking a look to see for yourself be repaired prior to included or requested for, along with whether the property is currently confirming if the property is currently tenanted or vacant is your own the completion of tenanted or vacant yourself. responsibility, and part and parcel of performing your physical due diligence the sale & purchase Defects & rectification check. If you decide to purchase a Go with the owner or agent to the property with the intention to utilise transaction.” unit. Firstly, look at the condition and or stay; you cannot evict the existing state of the property; noting down any tenant without cause, unless the tenant and all defects for rectification works agrees to terminate the tenancy, or needed to be carried-out prior to the you would then have to wait till the completion of the sale & purchase expiration of the tenancy agreement.

DISCLAIMER: The opinion stated in the article is solely of Jimmy Kwok and is not in any form an endorsement or recommendation by iProperty.com. Readers are encouraged to seek independent advice prior to making any investments.

64 65 Using the “CHI” Triangle

The idea of the Chi Triangle is that the ‘life-force’ or ‘power’ of a location will determine the success of an area. There are positive elements we should look for, as well as negative elements we should be wary of. JOSHUA LEE SZE CHI Speaker, trainer and author, with a focus on property Simply put, chi (qi) is the Chinese word for ‘life-force’ or ‘power’. In India, it is investments called ‘prana’, in Japan it is called ‘ki’ – and over on the other side of the world, Native Americans call it ‘The Great Spirit’. Of universal significance thus, using the theory of the ‘life-force’ or ‘power’ triangle, we are better able to determine whether a new area will succeed or otherwise, shares Joshua Lee Sze Chi. And subsequently, whether the property we are looking at is worth the investment in.

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Positive elements present within an area, have a higher Positive elements we should look for chance of succeeding than those are the triangle’s three points, which without. As a general rule of thumb, are represented by the elements of an area of 5km could be regarded “Ultimately, stay, work and play. Together, they as an area of focus when doing your form a harmonious functionality that research. The quintessential idea negative elements a community needs to thrive and here is that a location must have all prosper. These 3 elements which are the various components which are create bad chi represented by residential, commercial elementary to living life. activities and entertainment, if These include places to stay, and flow and thus will present within an area, will increase which is in close proximity to work the vibrancy of the business in the (Offices, shop-lots, factories, retail detract from the area, which attracts a higher inflow of outlets, etc.) as well as for educational people into the area, thus leading to needs (primary, secondary, tertiary prosperity and population growth. educational institutions, etc.) and which These 3 elements which are is supported by the lifestyle needs of success of an area.” represented by residential as well as people. This includes malls, parks and commercial entertainment/leisure, if other entertainment or recreational amenities in the area.

Negative elements success of an area. The placement of Negative elements can drastically a graveyard is also an element that is reduce the effectiveness of the Chi highly avoided when choosing to buy “As a general rule triangle theory. If it has been seen property, renting a place to stay – or that over time, people have been work. Ultimately it depends on the of thumb, an area leaving the area, (Negative population individual, however, as superstitions are growth), as well as the success of many that of an individual’s belief. Generally, of 5km could be businesses have been floundering in areas surrounding or adjacent to the area (Many closures); red flags graveyards have a bad reputation. But regarded as an area should be raised and extreme caution on the other hand, one must look at of focus when doing applied to your decision making places like land-starved Penang, where process. the majority consensus is ‘So what’s your research.” There can be many types of wrong with that?’ negative elements which have and/ Another negative element are or are still driving people away. These pylons, which usually front homes, can range from environmental issues, shops and offices such as high infrastructural issues, societal issues tension cables. These pylons serve to the multitude of problems under as blockages and negatively affect the sky. These issues themselves could the resident’s/visitor’s mood. When also have coagulated to form another individuals are not happy to be series of issues – and then some, going working or staying in that building from bad to worse. Ultimately, negative or area, it will put a dampener on elements create bad chi flow and thus familial relationships and business will detract from the prosperity and performance.

DISCLAIMER: The opinion stated in the article is solely of Joshua Lee Sze Chi and is not in any form an endorsement or recommendation by iProperty.com. Readers are encouraged to seek independent advice prior to making any investments.

66 67 China’s One Belt One Road and High Speed Rail across ASEAN

A preview of connectivity across three continents.

China launched the One Belt that focuses on connectivity and One Road initiative in 2013 and cooperation, and has both the land and it is expected to be the biggest sea lanes. The lane will connect China comprehensive global project of the to Central Asia, crossing over to Russia, 21st century involving 65 countries Eastern Europe, then to Western across three continents which Europe, Germany and finally to the UK. include Asia, Europe and Africa, and On the other hand, the sea lane will will be affecting 60% of the world’s go through the coastal cities of China, population. Although it was China’s then to the South China Sea, followed idea to connect all these countries, but by crossing over to the narrow straits it’s not their sole effort anymore but of water to Malaysia and Indonesia, and DATO’ SRI MATTHEW YEOH rather a combination of all the other moving on to Sri Lanka, the Arabian Co-Chairperson of countries, including ASEAN. Sea and Africa, finally concluding in ASEAN Legal Alliance Inspired by the Silk Road, China’s Europe. initiative is an economic belt

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One Belt One Road’s promise Johor Bharu before crossing over to “In addition to this But for us in ASEAN, our biggest Singapore. In addition to this mega question is how One Belt One Road is connectivity, there are also plans to mega connectivity, going to benefit us? Geographically, build a link to Sumatra and Java from ASEAN is the southern neighbour Malacca. there are also plans of China and we are the third largest However, many of us would probably market in the world. “Since we have a think why China is interested to build to build a link to huge population and understand and all these infrastructures here? “From Sumatra and Java relate very well with China, it makes China’s point of view, I can tell you complete sense for China to look down that they are looking for alternative from Malacca.” south and invest a lot on infrastructure sources and revenues. They’re looking here. at transporting goods from one end Besides that, the combined GDP of the world to the other end. So with of all the 10 countries is more than high-speed rails, they can easily do so,” USD2.4 trillion and this instantly said Dato’ Seri Matthew. prompted China to start their efforts “The One Belt One Road initiative here,” said Dato’ Seri Matthew Yeoh, has also, apart from the prospect of the Co-Chairperson of ASEAN Legal economic progress, caused some Alliance when he spoke at the ARENA concern or even fear among the local Convention and Exhibition (ACE) 2017 populace in certain countries. For recently. example, the investment in Sri Lanka Apart from One Belt One Road, to improve its sea port and airport China is also helping and initiating is secured by a 90-year lease, which all countries in Southeast Asia for is more than a time span of three high-speed rail. The high-speed rail generations. It will no doubt impact the basically has three lines – the western, local culture and lifestyle with such a eastern and central. The western line long Chinese presence. starts from southern China passing Some would draw parallels to the by Mandalay, down to Yangon and nineteenth and early twentieth century ends in Bangkok, whereas the eastern colonial adventurism of western line goes through Hanoi, Ho Chi Minh powers in Asia and Africa. However, City, Phnom Penh and ends again in colonialism or whatever name one Bangkok. gives to it, is only bad if it only benefits On the other hand, the central line the home country and not the colony. begins from southern China onto Only with the fullness of time and how Vietnam and stops in central Thailand. the countries engage China will we see In Malaysia, the rail will come to Kuala how this initiative unfolds.” adds Dato’ Lumpur and then all the way down to Seri Matthew.

DISCLAIMER: The opinion stated in the article is solely of Dato’ Seri Matthew Yeoh, and is not in any form an endorsement or recommendation by iProperty.com. Readers are encouraged to seek independent advice prior to making any investments.

68 69 Bukit Bintang City Centre: The heartbeat of Kuala Lumpur

A complete hub for everything that you desire.

There’s no doubt that Kuala Lumpur gardens and green pockets. by a Zepp Concert Hall, which is has developed over the years to “This project was conceptualised the first outside of Japan. Owned become a great urbanized city. But, by a master planner called Jerde and operated by Zepp Hall Network if we want to be placed in the same Partnership based in Los Angeles Inc, a subsidiary of Sony Music league as other big cities like Tokyo, and the whole concept of BBCC Entertainment Japan, this concert New York and London, there are incorporates all five senses – touch, hall will offer ultramodern sound and still a lot more for us to do. As such, taste, smell, style and sight,” said lighting systems that will make it the EcoWorld Development is taking Raymond Lee, Senior Manager for first choice for international artists. the first big step to transform Kuala Business Development for EcoWorld “We have roped in Sony Music’s Lumpur into a world-class city and a at the ARENA Convention and Zepp Hall and they are only found in force to be reckoned with. Exhibition (ACE) 2017. six venues worldwide and they’re all Introducing Bukit Bintang City However, the strongest point of located in Japan. Once this project is Centre (BBCC) – the one-of-a-kind BBCC is undoubtedly its accessibility. completed, they can bring down big integrated city that is destined to Surrounded by public transportations names to Kuala Lumpur. Some of the inspire and rejuvenate the thriving like LRT, Monorail and the latest MRT, artists that they’ve brought over before Golden Triangle in Kuala Lumpur. BBCC is technically connected with include Maroon 5 and Bob Dylan,” adds The immaculate cosmopolitan gem the entire Klang Valley and beyond. Raymond. Other components of the spanning across 19.4 acres will be Kuala If this is not impressive enough, the entertainment hub include the Cineplex Lumpur’s new lifestyle architectural upcoming Kuala Lumpur-Singapore and the Malaysia Grand Bazaar. icon comprising of state-of-the-art High Speed Rail (HSR) also crosses Expected to be completed in 2021, office towers, thoughtfully designed through BBCC. BBCC is definitely going to be seen as residence and a transit hub. Patrons can make their way to Kuala Lumpur’s heartbeat and is set Shopping and dining experiences Hang Tuah station that will take to complement the urban grandeur of are in abundance, with an electrifying them approximately 100 minutes future living. With so many different entertainment hub perfectly to reach Singapore. Just like any components embedded in one complementing a dazzling lifestyle other megacities around the world, development, it is almost certain that mall. Apart from focusing solely on connectivity plays a crucial role and Bukit Bintang City Centre is going to bricks and mortar, the megaproject BBCC is striving to achieve that target. uplift Kuala Lumpur and place it on the also has green lungs that are threaded Another facility worth mentioning is world map along with other megacities. through to create a series of parks, its entertainment hub as it is anchored

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Greater opportunities in Greater KL An overview of Greater KL and its attractiveness towards foreign investors.

Greater Kuala Lumpur. “We don’t hear people talk about England vs. Australia vs. France. What we hear is people say is London vs. Sydney vs. Paris. The fact of the matter is every country needs to have a power-centre and that place has to be the commercial capital of the country. This is why the government want to focus on Greater KL,” said Datuk Seri Michael. Although we know Greater KL is steadily growing on a positive note, the important question to ask here is why should investors pick Kuala Lumpur as the destination for them to invest? “From an investors’ point of view, Greater KL is attractive because of the newly developed world-class MRT development which gives full connectivity within Klang Valley and beyond, low cost of living, cheap office rent in prime area, cheaper cost for Kuala Lumpur is the most developed that, KL is also one of the top 15 city talent as well as lower educational cost city in Malaysia and it’s well-known destinations for international tourists compared to other cities within the as a leading commercial and financial to arrive over three consecutive years. region like Singapore and Hong Kong.” centre in the region. The city’s This clearly shows that Malaysia, in Besides that, Malaysia has also significant progression is reflected in particular Greater KL is a potential announced multiple partnership its development activities across Klang hub for investors to venture in,” said with other countries across the Valley, rising population and steady Datuk Seri Michael Yam, Chairman of globe. For instance, 15 commercial economic growth. In fact, Greater KL’s Invest KL during his talk at the ARENA agreements were signed with India population of 7.2 million is anticipated Convention and Exhibition (ACE) 2017 totalling up to USD 5billion as well as to expand by 6% to reach 10 million last month. As Malaysia is close to its 14 agreements worth USD 32.7billion by 2020 and the size of Greater KL Vision 2020 deadline, the government and 16 memorandum of understanding economy reflected by Gross National had to plan the future of the country (MoUs) with China. This again shows Income (GNI) is expected to grow from and where it’s leading to in the next that other big players in the world USD 75billion to USD 98billion at 3% in 20 to 30 years. As such, there are 12 view Malaysia as a stable country with view of global economic conditions. National Key Economic Areas (NKEAs) enormous potential for economic “The GDP of the second quarter that the government decided to focus growth. Therefore, with all these points, of 2017 just came out and it stands on and out of the 12, 11 of it are product it is no surprise that Kuala Lumpur is at 5.9% compared to only 5.6% and service based and only one is on undoubtedly seen as a great location growth in the first quarter. Besides geographical location and it is called to invest in.

PB 71 Straight talk with Dr Daniele Gambero CEO of REI Group of Companies

Nowadays, some young adults A few weeks ago I had one of our are hunting for their first home staff conduct a survey on a newly aggressively by surfing the wave that launched project. To my surprise, he roars on a daily basis. These waves came back with all the data and an come in the form of not knowing the enthusiastic opinion of the project affordability of housing values, the itself. This young adult has been unavailability of affordable homes and working with us for the past two surprisingly, a possible over-supply of years, and is an experienced property residential units. This fact is openly in judge who has had several one-to-one contrast with the previous assertion. sessions on property basics with me Malaysia is a young country, with more and my other partners at REI Group than 67% of its population falling in of Companies. At first, I thought: “If the age range of below 39-years-old. he is enthusiastic about this project it However, this young population (or means that it should really be notable.” at least a good part of it), is not only So, I went through all the data that was homeless but also prone to “listening collected, brochures and his personal and watching” without really thinking description of the project. On a surface critically. The reason for this is because level the collaterals seemed great, with our firm is a real estate service provider trendy “mini” SOHO design concept and every time there is a new project, and good facilities priced at a decent we try to gather all the relevant price tag; it actually appealed to my information about it. We take into emotions by pulling at my heart strings factors like type of project, unit and instead of prompting me to see things size, available facilities, tenure of the from a logical stand point. And that land (leasehold or freehold), and the triggered my internal alarm bell. availability of car park bays and so on.

72 73 STRAIGHT TALK

The catch who designed this project, was able to Projects that are designed to hit your get more than two bedrooms and two emotional chords and imagination bath-rooms plus a family area, living, are usually veiling a problem and this dining and kitchen out of this Lilliputian particular project was no exception layout. to the rule. So I started conducting a My advice to new buyers is: don’t deeper analysis of the said project to decide in haste. Go home and use a explore more details. The whole land, measuring tape to get a precise idea measuring less than 10 acres, is actually of the proposed sizes of each room. In squeezed between highways, which other words, I am urging you to please makes it inaccessible and open to noise understand what you are signing pollution. up for. The last surprise came from Furthermore, I did a bit of simple reading the fine print, which by the calculation and found that the total way, are always printed at the bottom number of units proposed divided by of the last page of every brochure the land size, showed an impressive related to residential properties. This density of more than 300 units per is where developers must declare their acre. As a reference point, a normal development order number (DO), the high-rise residential property will advertising permit, developer license usually have a maximum density of number (APDL), validity and the tenure 40 to 60 units per acre of land. Let’s of the land title over which the project compare this to the highly talked is developed. about Chinese projects on the Iskandar Well, guess what? The said project Malaysia’s waterfront. The construction blatantly showed a leasehold tenure features thousands of units over limited with only 70 years of lease term left, land resulting in a maximum density which in my opinion is too short. A of less than 200 units per acre. From normal term allowed in Malaysia is 99 here, we can deduce that this project years. In such cases, developers would is of extreme high density. Next, I usually replenish the lease up to 99 studied the total built up of each unit. years when launching a development Measuring slightly below 900 sq ft, the project over leasehold land. So in SOHO design should never have been this case, if you factor in the three to approved as the resulting net space will four years of completion, the delivery allow only mini living and dining areas, period, plus another 10 years for the mini bedrooms, extra small bathrooms buyer to get enough pay raise and and so on. Surprisingly the architect savings to consider a possible upgrade of 17 years, it leaves them with only 50-plus years of lease. This will have a negative repercussion on the actual value that the property can fetch. So, the moral of this month’s ‘Straight Talk’ column is this - when buying a property always consider the fact that this is probably going to be the biggest purchase of your life and it will require a lifetime of commitment. Do not make decisions purely based on emotions and likeability factors. This will help you in understanding the pros and cons which will allow you to make a more informed final decision.

72 73

RESEARCH DATA

GLOBAL CURRENCY REPORT 2017 Taimur Khan from Knight Frank Research analyses the impact of currency movements on prime residential markets around the world.

SUMMARY

Currency market movements can have a significant impact on the flow of international capital into property markets

International buyers following a wait-and-see strategy in relation to the UK market ahead of Brexit are adopting a high risk strategy

TAIMUR KHAN British and Turkish investors saw the opportunity to realise the best returns in Senior Analyst key global cities in the year to Q1 2017

In Q1 2017 Ruble-denominated buyers found it 28% cheaper to purchase in prime central London compared to a year earlier. has had a notable influence on nonresident purchases in the US. This link between currency Currency movements are important to consider alongside fundamental market and crossborder transactions indicators such as price performance and yield is underlined by data from the National Association of Realtors in the US which shows that the appreciation in the US Dollar between 2014 and 2016 coincided Currency matters with a 25% fall in non-resident In global prime property markets even small percentage changes in property purchases across the currency can have significant monetary implications. US. Purchases by US residents increased by 10% over the same time period. Currency, ownership costs and property from international buyers. Such data needs to be viewed taxation are becoming increasingly To judge the strength of a country’s from two standpoints. Whilst important considerations for investors, currency relative to its peers we have appreciation can be costly, especially as the rate of price looked at effective exchange rates, for those from abroad who appreciation slows in some global city rather than simply measuring one already own an asset in the US markets. However, individuals need to currency against another. This allows a strengthening currency could be conscious of the risks, as well as the us to see in which direction a particular be viewed as an opportunity to opportunities, surrounding these. currency is moving in comparison to a enhance returns by selling and The volatility observed in currency weighted average of a basket of other repatriating capital. markets over the last 12 months is a major currencies. case in point. Between June 2014 and January Time to act 2016, the US dollar appreciated by Investors may look to hold out Does currency matter? 21%, making it more expensive for for the most optimal time to buy Fluctuations in currency markets international buyers to purchase in the or sell in an attempt to maximise can impact demand for residential US. In recent years the strong US dollar, purchasing power or potential

PB 75 FIGURE 1 returns. However this strategy can be Euro at CHF1.2/Euro. This resulted in Strength of the US dollar risky. the Franc depreciating by roughly 7% Nominal broad effective exchange rate index The US dollar’s performance against key currencies The trading volume of the global against the majority of currencies from forex market is estimated to be over its pre-peg low.

130 25 times that of global stock markets; On 15th January 2015 the SNB 21% Appreciation 125 this naturally leads to volatility and depegged the currency without therefore carries risk when deciding warning, causing the Franc to fall by 120 whether the exchange rate has reached 14.5% on the day. However, over the 115 a peak or trough. Interventions by next two months the Franc recovered, 110 Central Banks and policymakers falling by roughly 8% in comparison

105 in currency markets can devalue to the CHF1.20 peg; a stark reminder currencies. that waiting for the bottom of the 100 The Swiss Franc’s pegging and market can be a high risk strategy. 95 depegging against the Euro is a case To hedge against the impact of such 90 ‘05‘ 06 ‘07‘ 08 ‘09‘ 10 ‘11‘ 12 ‘13‘ 14 ‘15‘ 16 ‘17 in point. From 2009 the Swiss National devaluations buyers may look to invest Bank (SNB) pegged the Franc to the in currencies which have a negative Source: Knight Frank Research, JP Morgan correlation to their local currency.

Global currency monitor Knight Frank’s Global Currency Monitor calculates real investment returns for international investors by combining changes in prime prices with currency shifts.

Currency shifts in markets are of performance. Taking Berlin’s five After these sharp depreciations, underpinned by several factors, the year returns as an example, of the six buyers denominated in these most significant being economic currencies that have outperformed the currencies have been subject to a fundamentals, political and geopolitical local market over the last five years, all material fall in their buying power. On risks and future expectations. From a have experienced sudden political or the other hand, existing investors who stuttering global economic recovery economic upheaval. The imposition of are looking to repatriate their capital to elections and referendums, 2016 sanctions on Russia and the recovery could use these deprecations as a provided numerous events of influence. in the price of oil has influenced the method to enhance their returns. Ruble. Uncertainty underpinned by The data digest on the back page Annual returns political instability (Malaysia and provides additional city analysis on From the perspective of an investor Turkey) and referendums (Turkey and returns across key markets taking into looking to exit a market, British and the UK) have led to depreciations in account both currency and property Turkish homeowners abroad have these countries’ currencies. market performance. seen the most significant returns over FIGURE 2 the last year, as a result of currency Which nationality has seen the strongest return from a property in Berlin in movements. the last five years? Sterling-denominated buyers who Based on prime price and currency movements in five years to Dec 2016 bought a prime property in Berlin in Q4 160 140% 135% 2015 and sold in Q4 2016 would have 140 seen a 26% return and Turkish Lira- 120 denominated buyers a 27% return. A 100 Euro-denominated buyer would have 78% 78% realised a 9% return over the same time 80 61% 58% 55% period. 5 Year % change 60 % 40 39% 37% Whilst currency shifts can be 40 26% significant, it is important to keep 20 in mind the fundamentals which IN R TR AUD RUB 0 MYR GBP EU R SG D CNY CHF US D

underpin property markets, these Y can be the most significant drivers Buyer-denominated currency Source: Knight Frank Research

76 77 RESEARCH DATA

Opportunities international buyers in London had the found it 28% cheaper compared to Q1 Below we have identified the key best opportunity for discounts on a 2016. Over the same time period, Thai international buyers across six global currency basis alone between Q1 2016 Bhat-denominated buyers in New York cities and highlighted the extent to and Q1 2017. A prominent example would have found their acquisition 9% which currency shifts over the last would be Ruble denominated buyers cheaper if they had bought in March year have influenced buying power. in London who in Q1 2017 would have 2017 compared with March 2016 In our selected list of global cities,

FIGURE 3 Global Currency Monitor % Discount from Q1 2016 to Q1 2017 % Premium from Q1 2016 to Q1 2017

UNITED STATES (USD) UK (GBP) -11.6% 11.4%

AUSTRALIA (AUD) CHINA (CNY) -11.7% -5.8% BRAZIL (BRL) CHINA (CNY) -20.2% 5.1%

INDIA (INR) EUROPE (EUR) LONDON -5.6% NEW -14.1% YORK

RUSSIA (RUB) EUROPE (EUR) RUSSIA (RUB) TURKEY (TRY) -24.9% 1.6% -28.3% TAIWAN (TWD) 16.0% -8.6%

UAE (AED) PAKISTAN (PKR) -4.6% 0.0%

DENMARK (DKK) NORWAY (NOK) 1.7% -1.8%

INDIA (INR) EUROPE (EUR) -2.9% DUBAI 6.7% SWEDEN (SEK) EUROPE (EUR) DUBAI 5.4% GENEGENEVAVA 1.7%

TURKEY (TRY) UK (GBP) 31.1% 13.1% RUSSIA (RUB) UK (GBP) -22.7% 7.8%

UK (GBP) 12.9% UNITED STATES (USD) 0.2% SOUTH AFRICA (ZAR) MALAYSIA (MYR) AUSTRALIA (AUD) -7.7% 13.2% -0.4% CHINA (CNY) 6.3%

HONG SINGAPORE (SGD) SYDNEY EUROPE (EUR) HONG 3.5% SYDNEY 6.7% KONGKONG

UK (GBP) HONG KONG (HKD) RUSSIA (RUB) EUROPE (EUR) 13.3% SOUTH KOREA (KRW) 0.4% -19.1% SINGAPORE (SGD) 6.5% 3.1% -1.8% Source: Knight Frank Research

76 77 Outlook Numerous factors can affect a currency’s performance, below we outline some of the key risks and their potential impact.

Risk monitor of a maximum of 10, is based on two market impact. Both these elements The Risk Monitor provides our latest assessments, firstly our view of the are scored from one (low) to five assessment of key risks to global likelihood of the described scenario (high), collectively contributing to our residential markets. Our risk score, out occurring, and secondly the potential combined Risk Score.

HIGHEST LOWEST RISK 10 9 8 7 6 5 4 3 2 1 RISK

GLOBAL

RISK SCENARIO IMPACT LIKELIHOOD IMPACT RISK SCORE

GLOBAL Slower than Positive economic data from the US, Eurozone and Asia has surpassed expectations so far in ECONOMIC expected 2017. However, there are several factors which will underpin the stability of this recovery. The GROWTH economic pace of rate hikes, due to increasing inflationary pressure, may increase the cost of borrowing. growth Countercyclical fiscal policies could lead to a slowdown in employment and wages and 2 5 7 influencing demand for prime residential property. This may slow lending, although higher rates may mean financial institutions are more willing to expand lending levels.

POLITICAL French, UK Populist movements across Europe are contributing to uncertainty on a national level and in RISK and German the EU. However this threat has subsided given recent election results in the Netherlands and National France. Any loss of medium-term confidence and divestment as investors look to de-risk, could Elections impact on housing market activity. 2 5 7 However, positive economic data in the EU and more stringent views on immigration by incumbent parties has reduced this risk to some degree and forced recoveries in currencies such as the Euro in recent times.

PROTECTIONISM Increased In an e“ort to cool property markets policymakers have increasingly turned to regulation. regulation of the The e“ectiveness of these regulations has always been a matter of debate; recently property market Vancouver and Singapore have softened previously introduced property regulations. Such 3 3 6 and greater political interventions in property markets can severely influence investment. 6 capital controls

GEO-POLITICAL Increased Global tensions have continued to develop since the start of the year. Russia’s growing FACTORS political involvement in Syria and North Korea’s increased military rhetoric are moving up investors’ instability in agendas. These factors are important to global trade and resulting sanctions can have a knock- Russia, the on e“ect on trade routes, these could be detrimental to global economic growth and sentiment. 2 3 5 Syrian crisis and North Korea

Interest rate hikes by the Federal The weak pound has In 2016 the Yuan joined the US Reserve have contributed to attracted foreign investment dollar, the Euro, the yen and the a stronger US dollar over the into the UK and in 2016 this British pound in the IMF’s special last year. President Trump’s was further buoyed by better drawing rights (SDR) basket, proposed fiscal stimulus and tax than expected GDP growth which determines currencies that cuts may further strengthen the which has led to an improved countries can receive as part of IMF US dollar. long-run outlook. loans, seen as a major milestone.

Monetary easing, fiscal stimulus Outcomes from the Dutch and Rising oil prices and the and structural reforms, dubbed French elections have stabilised recovery of the Russian “Abenomics”, have been enacted the Euro as results provide long- economy has underpinned to manoeuvre the economy out of term certainty for the Eurozone. the strength of the Ruble. two decades of stagnation. These Improving economic indicators Loosening of sanctions imposed policies have weakened the Yen in Southern European countries on Russia may lead to further substantially over the last five years. have also supported the Euro. appreciation of the Ruble.

78 79 RESEARCH DATA

What does a strong US dollar mean for buying power weakened due to Portfolio diversification ranks as one global property markets? depreciating currencies. As the Federal of the top five most important factors Over the coming year, expansionary Reserve enacts further hikes we may for UHNWIs. Over the next two years fiscal policy in the US is expected to see other central banks following suit, 32% of UHNWIs will look to invest in bolster economic growth. The IMF increasing the cost of borrowing both prime residential property outside forecasts growth in 2017 to reach in US dollar terms and in local markets. of their country of residence. Whilst 2.3%, up from 1.6% in 2016. Combined This could impact the demand for movements in currency markets can with expected interest rate hikes, this debt-funded property purchases. be important to overall returns it is may lead to a stronger dollar. For International property investments important to consider these alongside buyers denominated in US dollars this and portfolio diversification are some fundamental market indicators such as will mean an appreciation in buying of the most important investment price performance and yield, lacklustre power. However, emerging market decisions for ultra-high net worth performance here can offset shifts in denominated buyers may find their individuals (UHNWIs) according to the US dollar. Knight Frank’s Attitudes Survey.

FIGURE 4 Relative change in prime prices allowing for property prices and currency movements Year to Q4 2016 LOCATION OF PROPERTY PURCHASE Currency London New Hong Paris Sydney Berlin Madrid Geneva of buyer York Kong

Australian Dollar -17.9% 4.2% 2.8% -1.4% 9.3% 5.9% 0.3% -3.8%

Swiss Francs -14.9% 6.2% 4.7% 0.4% 11.4% 7.9% 2.2% -2.0%

Chinese Yuan -13.2% 10.7% 9.2% 4.7% 16.1% 12.5% 6.6% 2.2%

Euro -13.3% 7.0% 5.6% 1.2% 12.3% 8.7% 3.0% -1.2%

British Pound -6.4% 24.2% 22.5% 17.4% 30.2% 26.1% 19.5% 14.6%

Indian Rupee -20.4% 5.8% 4.3% 0.0% 11.0% 7.5% 1.8% -2.4%

Malaysian Ringgit -7.6% 8.1% 6.6% 2.2% 13.4% 9.8% 4.0% -0.2%

Russian Ruble -31.5% -13.6% -14.8% -18.3% -9.3% -12.2% -16.8% -20.2%

Turkish Lira 5.2% 24.5% 22.8% 17.7% 30.6% 26.5% 19.8% 14.9%

Taiwanese Dollar -23.0% 1.6% 0.2% -3.9% 6.6% 3.2% -2.2% -6.2%

US Dollar -18.6% 3.5% 2.1%* -2.2% 8.5% 5.1% -0.4% -4.5%

Source: Knight Frank Research Local market performance to Q4 2016 excluding currency movements * Hong Kong dollar is pegged to the US dollar.

perspective of an international investor would find it 17.9% cheaper in Q4 2016 Data digest currently look to purchase, a negative compared to Q4 2015. The table above shows relative change figure means purchasing prime The global currency monitor is part in prime prices allowing for property property is cheaper compared to a of Knight Frank’s wider country and price and currency movements. The year ago. For example an Australian city level property database, for further currency and price data is to Q4 2016, buyer, denominated in Australian information on this please contact unless otherwise stated. From the dollars, buying in Prime Central London Taimur Khan.

DISCLAIMER: The data above represents the findings of Knight Frank Research and is not in any form and endorsement or recommendation by iProperty.com. Readers are encouraged to seek independent advice prior to making any investments Options.

78 79 LAND FEASIBILITY STUDY FRAMEWORK - Part 2

Land expert, Tan Hwa Chuan shares the second half of an excerpt (Chapter 5) from his book, “Make Big Money Via Land”. Tan explains the necessary due diligence investors should carry out when considering land investment using his very own 10-step feasibility framework.

You could do a quick feasibility study with some the following standard Land office checklist d. Government Acquisition – to guidelines or measurements used in a. Ownership – to verify the verify if the land will be the industry: actual owner of the land. subjected to government b. Usage and Status of Land – acquisition. LEVEL 5 Land office to verify if the land is used, e. Caveat – to ascertain if there is This is a rather important step in the condition it is in, gazetted any caveat lodged onto the the feasibility study. This step will as Malay Reserved or for title by its current or previous determine if the subject land is legally commercial purposes, freehold owners. available for your desired purpose or leasehold tenure etc. f. Charges – to verify if the whether to buy or to develop. You c. TOL (Temporary Occupation subject land is charged to a would be required to visit the Land Licence) – to verify if it was financial institution already. Office to ascertain the following granted with TOL. information:

80 81 BOOK EXCERPT

LEVEL 6 JUPEM Damansara forecasted that banks will neighbourhoods. How do we gather JUPEM stands for Jabatan Ukur dan be one of the prominent users there. this? The fastest is to engage with an Pemetaan Malaysia (Department of True enough, 17 out of the 23 banks estate agent of the designated locality. Survey and Mapping Malaysia). This have set up their branches there. Local estate agent experts will often is where we go to obtain information be able to advise the acceptable prices pertaining to the size, dimension and c. Market environment and the pricing trend of the area. This the surroundings of the subject land. You can generally get this from the shall include both the new launches Although the advent of technology news sources such as the newspaper, and the subsale markets. Among the enables you to have a bird’s eye community papers, websites or information needed are the price per view of the land, or with Google Map forums. From here, you will know some square foot, size of the properties and Professional version, you can get as background about the area such as its their selling price. close as the actual size of the land, social standing, community needs, the it is still important to get the official racial composition and professional e. Property user information from JUPEM to ensure it is status of the area. We also need to identify where the legally and 100% accurate. potential users will be coming from. d. Visiting nearby developer’s sales For instance, in Equine Park, due office LEVEL 7 Market study to the convenience of MEX (Maju This is a study that is quite similar to From here you can get a feel of the Expressway) connecting it to Kuala understanding the messages behind property type, price points, sales Lumpur, we can be confident to the case studies in Chapter 3 How to speed and also the demographic of conclude that users will be coming Identify Good Land. As a land investor purchasers and investors. from Kuala Lumpur itself. or property developer, it pays to know the market a little more before e. Market “calling” price f. Market “transacted” price deciding on what to do with the land This is sometimes referred to as This is the actual price paid for the and what price to command if the “Asking” price. Information can be subject properties by the buyer decision is to launch into property obtained from newspapers, magazines, to the seller. You can get this development. Some of the essential Internet portals, mobile apps etc. This information from Jabatan Penilaian information to obtain from the market include sites like www.starproperty.my, dan Perkhidmatan Harta (Valuation study include: www.homefinder.com.my, and Property Services Department) www.propwall.my, www.iproperty.com.my, at www.jpph.gov.my. The Department a. Sales speed www.propertyguru.com.my etc. launches its latest NAPIC (National We need to study the possible trend Property Information Centre) Report of sales for our development. This f. Property prices every quarter. There are also half yearly is where we measure how fast the It is always good to know the prices and annual reports. Every report can development can be sold at. We will of properties in the surrounding be purchased. also need to determine where the buyers will come from. If we are able to pinpoint this correctly, we will then be able to forecast and manage our cashflow accurately.

b. User speed This is where we measure the tenancy speed or how fast the development will be occupied. We will also try and spot where the users or tenants will be coming from. For example the developer of Dataran Sunway in Kota

80 81 LEVEL 8 Frequent site visit LEVEL 9 Layout planning usage of the subject land to As you conduct the necessary study on At this level now, you can begin maximise profit without hurting that piece of land, you are encouraged sketching the ideal layout for your the harmonious living conditions to visit the site as frequent as you can. development project. You may do of the people in the property. This is to give you the time and space this with a simple sketch first or if an Such considerations also apply to be more familiar with the subject architect is already part of your team, to commercial and industrial land and its surroundings. The more you may engage their professional developments. you go, the more you will discover service to draw a more accurate plan. about the place, not just the physical The only thing to bear in mind is that • Generally, residential lands need but also the intangible aspects of it. such drawings may subject to changes to allocate 10% of the land area You may also want to consider as time passes and as more factors for “kawasan lapang”. This will be visiting the subject land at different you gather about the subject land. In used for playground, soccer field, hours of the day and different days in the drawings, you may also want to basketball courts or just simple for the week to observe the traffic flow, indicate the measurements and the landscaping. the activities, the people and the number of properties in order to give intangible community behaviour which yourself and the authorities the right • Another consideration is the low or you can only see when you are there. perspectives to work with. Some of the medium cost factor. Is there a need For instance, you will never know that pertinent factors to watch out for are to build low or medium cost houses the subject land is barred from access as the following: as a social responsibility? due to the night markets. You can only The benchmark in some places is discover these when you are there to • How do you position the properties? that for every 10 acres of land, there see it physically. I n Malaysia, most of the property is a need to build low cost homes or buyers prefer the north-south facing apartments. (see 5-3 Composition orientation as well as being shaded of Types of Homes based on Size of from the heat of the evening sun. Development Area). For example, if your project has 100 units of link • Where do you position the TNB houses over 10 acres of land in Klang substation, the oxidation pond, the Valley. Therefore, according to the water tank etc? requirements, you are required to Your aim is to achieve optimum build:

• Low Cost = 20% x 100 units = 20 units • Low-Medium Cost = 20% x 100 units = 20 units • Medium Cost = 10% x 100 units = 10 units

Low Cost Low-Medium Medium Cost Location Size Malay Reserve Non Malay Reserve Home Cost Home Home > 4 (>10 acres) 20% 20% 10% Quota is imposed Quota is imposed Klang Valley 0.8-4 hectares - - 30% N/A Quota is imposed (2-10 acres) > 4 hectares 20% 20% 10% Quota is imposed Quota is imposed Outside (>10 acres) Klang Valley 2-4 hectares - - 30% N/A Quota is imposed (5-10 acres)

5-3 composition of types of homes based on size of development area

82 83 BOOK EXCERPT

• Depending on state, one low cost Outflows – at what stage do we incur home may cost RM42,000 to build the following costs? while a lowmedium one is about • Piling RM60,000 and a medium cost home • Building and Construction is RM80,000. • Infrastructure • Consultancy • In Selangor for instance, there is • Statutory Applications and no low cost requirement for land Compliances measuring less than two acres. • Sales and Marketing • Show House Requirements and • The low and low-medium cost other relevant costs houses requirements are different TAN HWA CHUAN from state to state. They also change Land Cost Outflows – at what stage of Tan Hwa Chuan is a property every few years. So be mindful to do the project do we fulfil the payment for developer, investor and advisor. your own study when embarking to the following? He is the Director of B.I.G Group develop a piece of land. • Land Cost and Payment Terms to of Companies, an organisation Land Owner specialising in property • Quit Rent/Assessment to be paid to Level 10 Financial analysis development, investment, real The pinnacle of the feasibility study is the Local Governments estate advisory and mergers at this level, the Financial Analysis. This • Conversion Fee to be given to Land and acquisitions of land for is where we calculate and estimate the Office development. In the trade for over key financial figures to determine if the • Legal fees to be paid to the lawyers a decade now, he spots, maps, subject land is going to deliver profits • Stamp duties to be paid to Inland studies, analyses and develops land or losses. It also helps us to see the Revenue Board of Malaysia into address of opportunities. Tan viability of the project in terms of its (Lembaga Hasil Dalam Negeri can be reached at cashflow position month after month. Malaysia) [email protected] Some of the key points we try to achieve at this level are: Financing Inflows – this is to determine when the project can expect some kind a. Profits and Loss of funds coming in for the purpose of The profitability of the project is the project. This includes: determined by: • Cash Injection – this can come in • Product Type the form of Working Capital from • Joint Venture Model shareholders or investors. • Outright Purchase versus Joint • Term Loan - a bank’s loan for the Venture land • The Bottom Line of being in the red • Bridging Loan – a bank’s loan for or black construction • The Ratio of risks versus gain The viability of the development b. Cashflow projections project rests on the numbers it can Bottom Line – what is our cashflow churn out from this stage because position after servicing the loan each as they say, numbers don’t lie. Your month? position is better secured when you Inflows – what is our projected sales know where the project is heading revenue and when do they occur? financially.

Part 1 of this excerpt was featured in the September 2017 issue.

82 83 International News & Features INTERNATIONAL PROPERTY NEWS

Will China’s investment restrictions affect global property markets?

China’s economic growth has gone Leadership changes in China may from strength to strength over the result in policy shifts past few decades. And many other As the Communist Party prepares countries have benefited or suffered itself for a leadership reshuffle, policy because of this tremendous progress. changes seem imminent. The rate But as the capital outflow from the of capital outflow has accelerated in mainland increases so does the recent years. Last year, China’s capital Chinese government’s concerns. outflow came up to S$1.1 billion. This They have now clamped down on gives an indication of how much more investment monies coming out of could be tapped. However, this has China. How will the rest of the world also been deemed a threat to China’s react to this major shift? economy. It weakens the nation’s currency and dilutes its national growth figures.

Getting around the restrictions The effect felt closest to home comes from Chinese property developer, Country Garden Holdings. Earlier this year, they had closed all its China showrooms for the Forest City development in Johor. Forest City is a S$142 billion mega-project made up of 4 man-made islands in the Strait of Johor. Chinese nationals have thus far been the target audience of the project. The developers have since turned their attention to Chinese nationals with offshore capital to get around the restrictions. They are also looking at South-east Asian markets to diversify their target audience pool.

PB 85 INTERNATIONAL PROPERTY NEWS

Singaporean investors showing interest in the “Land of Smiles”

As Japan gradually realises the need sites such as Airbnb cap the number of to provide a one-stop platform for for foreign additions to their workforce, days of rental at 180 per year to adhere furnished apartments suitable for junior the number of expatriates working in rules in Japan. to mid-level executives. Japan has reached the 1 million mark. Metro Residences started in With the Tokyo 2020 Olympics But it is not an easy task for Singapore in 2014, and currently has in sight and Tokyo Governor Yuriko foreigners seeking temporary housing listings in Minato and Shibuya wards, Koike’s vision for Tokyo to be a in Japan – this is where foreign both areas popular among expatriates. financial centre, the property rental property companies come in. With The company prides themselves in market’s potential seems promising. a $4 million in investment monies offering quality properties with good However, it is not yet known, how from Japanese e-commerce firm value for money. In Singapore, they will this increase in demand for rental Rakuten and a Singapore startup, have over 400 listings and an average properties affect property investment MetroResidences has launched in occupancy rate of 85%. in Japan or if there will be more Tokyo. In Japan, where most of the foreign- possibilities created for investors It links up property owners in Japan housing are facilitated by serviced that will increase the ease of buying with tenants seeking medium to long- apartment agencies such as Fraser properties in Japan. term stays. Currently, home-sharing and Ascott, MetroResidences aims

86 PB SINGAPORE PROPERTY NEWS

Luxury property market Florence Regency HUDC up for en bloc sale on the move

There has been a recent shift in With 7 collective sale transactions 1,300 apartments according to its sole the buying trend within the luxury closed in 8 months, will yet another marketing agent, Jones Lang LaSalle property market. Upwards in terms of sales in Hougang make it 8? Florence (JLL). transaction volume but downwards Regency, the former Housing and Urban The minimum bid price is set at in per sq ft prices. Prices have fallen Development Company (HUDC) is $600 million. Taking the $249 million to levels comparable to that of mass putting themselves on the market for estimated differential premiums into market condominiums. $600 million. consideration, land costs comes up to The lowered prices have however The Hougang Avenue 2 site boasts be $779 per sq ft. This is comparable helped move 8 units in Sentosa Cove in an excellent location near Kovan and to the $861 per sq ft ppt and $965 per the first half of the year, considerably Hougang MRT stations. The latter will sq ft in the 2 most recent land sales in more than the 4 in H2 of 2017. No eventually be an interchange station Serangoon. units were sold in 2016. And prices under LTA’s plans for the Cross Island have fallen by 20% and now stand Line. It is also near the Hougang Central More to join ranks in collective sale at an average of $1,541 per sq ft. In Bus Interchange and Hougang Mall. market comparison, the mass market project Other pluses include its proximity to The land sales market has seen quite Commonwealth Towers have sold 47 schools such as the Holy Innocents’ a lot of action lately, and this seems units in June this year alone at $1,899 Primary School and French School of likely to continue well into the year. The per sq ft. The quantum price of mass Singapore. latest successful transactions include market units may be more suited to the The owners of Florence Regency Serangon Ville and a Government Land tastes of the general public. But luxury are optimistic about receiving offers Sales (GLS) site in Serangoon North. property market prices have fallen as between $615 million and $650 million. Normanton Park is the latest offering much as 40% from their peak. This The 389,923 sq ft site has 71 years left on and Park West condominium may also could mean the sector is now drawing its lease and can yield between 1,100 to join the ranks. not only high net-worth individuals and funds but also individual buyers with cash to spare. Over at the prime districts 10 and 11 on the mainland, sales volume has risen by 40%, from the 123 caveats lodged in H2 last year. 170 apartments in the core central region were sold in the first half of 2017. A noteworthy trend, however, is the marked decrease in the per sq ft prices of units sold. Take the most popular high-end property in H1 this year – Leedon Residences for example. 44 units were sold at an average price of $1,993 per sq ft. Compare this to the 35 units sold at Ardmore Three which was the most popular luxury property in H2 of last year, with an average price of $3,217 per sq ft.

PB 87 Deal sealed at $970 million The large freehold site with a sea view launched for sale for Tampines Court

And the winning bid goes to Sim Amber Park, a collective sale site with a gross plot ratio of 2.8. It may be Lian for $970 million. Making million- along Amber Road, has just been redeveloped to accommodate a high- dollar bids in the land sales market is launched for sale by tender by sole rise apartment development of around certainly no child’s play, especially as marketing agent JLL. Built in the 24 to 26 storeys, depending on the the temperature in the collective sale mid-1980’s, Amber Park comprises technical height controls imposed by market continues to rise. of 200 units housed in two 27-storey the relevant authorities. The former HUDC Tampines Court apartment. The Amber Road area is an just went for sale last month, and the Built in the mid-1980’s, Amber Park established private residential enclave deal has already been made. This is comprises of 200 units housed in two that enjoys a strong following from following 2 previously failed attempts. 27-storey apartment blocks. More than both locals and expatriates alike, due It may seem like 2017 is a good year. At 80% of the owners have consented to to its proximity to the Central Business $970 million, this latest collective sale the collective sale at a minimum price District (CBD), its appeal of being only is the largest since the $1.34 billion deal of $768 million. minutes’ walk to the beach at East for Farrer Court in 2007. Under the 2014 Master Plan, the Coast Park and the ease to the airport. The 702,164 sq ft Tampines Court 213,670 sqft site is zoned ‘Residential’ on Tampines Street 11 has the potential to yield up to 2,600 units. While it may be a coup for Sim Lian to have won the bid, the sheer size of the plot could mean more pressure. Sim Lian will have 5 years to develop and sell all the units. Otherwise, they may have to pay the additional buyer’s stamp duty on the land price. From the sale, each home owner will receive between $1.71 million and $1.75 million. The price offered works out to be $676 per sq ft. Taking into consideration the $539 million for the premiums such as land-intensification and enhancement, the break-even price will be between $1,050 per sq ft and $1,150 per sq ft. Property analysts are expecting more home owners to follow suit with en bloc offers but are beginning to question the impending prices of new homes soon.

88 89 SINGAPORE PROPERTY NEWS

Plans to make Jurong Lake District the second CBD

Where industrial buildings and wide Planning for a logistics hub outside of open spaces used to dominate, the the district will also minimise the traffic Jurong Lake District has been slowly volume from delivery vehicles. undergoing a transformation. It is now home to many HDB blocks as well as How will businesses take to this new executive condominiums (ECs) and district? private condominiums. The question is – Will businesses bite? Scheduled under Urban Property analysts say this may depend Redevelopment Authority’s (URA) on whether URA reduces the release master plan to be the second Central of land plots in the Marina Bay area. Business District (CBD), it will have The financial scale naturally weighs a big part to play in Singapore’s heavily on businesses’ decision-making economic growth. This would be an process. The rental gap will need to injection of 100,000 new jobs and be approximately 60% for the shift 20,000 new homes in the district. This to happen. There is also the timeline could mean a demand of 9 million sq ft to think about. The master plan will of office space. only be finalized in 2019 and the The entire Jurong Lake District will developments coming to fruition only span 360 hectares in total. The current in 2040. CBD is 5 times larger. Thus it will not be a matter of competition by size. What will then set the Jurong Lake District apart from the existing CBD in the country’s South? Connectivity will be key with its proximity to the High- Speed Rail (HSR) terminus and Tuas Mega-port. There are plans to develop it around livability. An emphasis on residential development would mean putting aside 40% of the mixed-use areas around the HSR for homes. There are talks about making the district car-lite, with a focus on public transport-accessibility. Some zones will be delegated to public transport.

88 89 SINGAPORE PROPERTY NEWS

HDB Awards applauds smart and Green homes

In building better homes for is designed by HDB’s in-house team. Singapore’s 5.6 million and growing The Design Award for completed population, the Housing Development housing was awarded to ADDP Board (HDB) has been pushing Architects for their work on Waterway themselves hard. Cascadia in Punggol. An inspiration At the HDB Awards 2017, the 24 for the development came from the accolades were duly bestowed upon Punggol Waterway. And this can be architect and construction firms who seen in the buildings’ curvilinear river- brought sustainability to the forefront. like forms. HDB flats are now built As part of Singapore’s push to be a more and more to look like private smart nation, HDB has and will continue condominiums. Their design and to leverage technology to ensure functionality are carefully thought out livability and sustainability. In planning to benefit residents. for future concepts, green living with connectivity to amenities and HDB’s role in housing Singapore’s recreational spaces are some of HDB’s population in the 21st century towards their neighbours during and main considerations. Building 732 units over 6 blocks at even after the construction process. Woodleigh Glen in Bidadari took Hougang Meadow, China Construction Moving into the 21st century, HDB home the Innovative Design Award this (South Pacific) Development Co intends to expand the use of smart year. It features rain screens at strategic (CCDC) won the Construction Award. technology to help them in the locations to keep temperatures just The company is lauded by not only construction process as well as adapt right for the residents. Woodleigh Glen HDB but also residents for their care their housing policies and designs.

New HDB flats with flexible layouts

New HDB flats to have flexible space HDB’s annual HDB Design Awards. This for reconfiguration project is entirely developed by HDB’s But the build-to-order (BTO) flats in in-house team of planners, architects, the upcoming Bidadari HDB estate and designers. may change all that. At Woodleigh Glen, all the 1,000 BTO flats will have 3D models of flats help visualize space structural beams and columns tucked To help new flat owners plan their to the edges so there is ample space space more efficiently, HDB is for reconfiguration. Walls can be taken also working towards providing down to replaced to create unique 3-dimensional models of the flats. spaces. Interior designers and flat This would make for better spatial Some older HDB flats may have owners will quite literally now have visualization. The flexible layout option structural walls right down the middle more space to play with open-concept will benefit growing or changing family of the hall. To the chagrin of flat owners and minimalist designs. units. Walls could be taken down to who have a specific idea of what they Previously the only BTO project to create a larger bedroom. Or erected to would like their new home to look have this option was Skyville@Dawson. create a smaller nursery for a new baby. like. It also makes it a tad troublesome Unique to Woodleigh Glen is its design Young families and multigenerational when it comes to reconfiguring the which won them an Innovative Design ones may especially welcome this new layout of the unit. Award in the “to-build” category of the design augmentation.

90 PB INTERNATIONAL BRIEFS

What I wish I knew before I purchased a property

“How do I buy a property?” – It is absolutely critical that we answer this question before we start shopping for one. Learn about the “How” before jumping into “What property should I buy?”

-KENNETH KOH, Associate Director, Redbrick Mortgage Advisory

If we skip the initial preparation, first property. Behaving like a cuckoo, we will soon find ourselves in murky I thought it would be like any other waters, objectives blurred, and we buying experience. deviate from what we originally set out I see what I like, I pay for what I to purchase. The more properties we like, and it becomes mine. Done! I did look at, the more confused we become. not want to trouble anyone else, so I Of course, they are all marketed to look used online portals for my searches attractive, value-for-money products, and short-listed the properties. After and present themselves as your dream 3 weeks of relentless viewings, I home. got so tired that I was prepared to KENNETH KOH It is not uncommon for an enjoyable purchase the next decent place I see. Associate Director buying experience to go south quickly. Fortunately, I arrived at something I Redbrick Mortgage Advisory Besides the plethora of options that really liked after my 17th stop. threaten to derail our original plans, After putting in all that effort, I Kenneth graduated from Nanyang there are fiscal policies and loan was not going to let this property Technological University with an requirements to decode for the newbie go. I offered a 1% option fee and was Engineering Degree and the University of Strathclyde with a Master of purchaser. prepared to exercise the Option to Business Administration. He has What started as a shopping spree Purchase immediately by writing a worked with Keppel Communications via a property portal and newspapers cheque for the other 4% of deposit. and Deutsche Telekom, and spent may soon turn into a scramble for The seller agent stopped me and much time in various cities like Bonn, loan eligibility, where one will end up advised that I confirmed my bank Shanghai and Abu Dhabi, before returning to Singapore to start his own fearful that their time and efforts have loan first. And so I did. I walked to the business. been wasted because of the wrong nearest bank and asked for a loan. That sequence of steps. is when I got the classic expression Buying a property is not a place for from the banker. trial and error. A roadmap for property His jaw dropped and exclaimed: purchase is necessary. I learnt this “How could you have bought a place lesson the hard way, almost losing my without getting a loan approved in 1% option fee. You see, a few years principle? How would you know if you back after saving enough cash for could afford it? What made you think the 5% deposit, I decided to buy my the bank would loan you any money?”

PB 91 All my mistakes would have been to see if you meet the requirements avoided if I engaged the help of 2 key for a loan – Total Debt Servicing Ratio persons –a mortgage broker and a (TDSR) for private properties, plus property agent. One looks after your Mortgage Servicing Ratio (MSR) for loan, and the other, your property public properties. He will also be able purchase. If you are buying a private to advise on your monthly repayment property, the services of these 2 are amount, tenure and current interest free, so why not engage them? There packages. might be some fees to pay to the Other factors that will affect your property agent if you are buying a loan include: public property, but the benefits far 1) age of borrower outweigh the amount. 2) age of property 3) valuation of property Budget 4) employed or self-employed, etc. Start with getting a bank to approve your loan in principle. This will tell Other items that can affect your you how much you can afford. You budget (and greatly drain your energy) will need to set aside 20% for your include, how much CPF you can use, down payment – first 5% in cash, Buyer’s Stamp Duty (BSD), Additional and next 15% in cash and/or from Buyer’s Stamp Duty (ABSD), Resale your Central Provident Fund (CPF) Levy, Seller’s Stamp Duty (SSD), etc. Ordinary Account. A mortgage broker Leave it to the experts. How ironic it is can work out the sums very quickly to call these items a non-exhaustive list!

92 93 INTERNATIONAL BRIEFS

Timeline properties for sale, amenities, market Next is to know the listed items values and trends. His experience will well, especially if you are on a tight help you to read a home quickly and schedule. Calculating the timing well interpret its value without partiality. would provide you with sufficient Spend some time researching online, time for renovations before moving in. and then come up with a criteria list as Otherwise, you might need to rent an specific as possible. Arrange your list in interim place if you have to move out order of priority and inform your agent of your previous home before your new that you would not view a place unless place is completed. it fulfils your minimum requirements. This will save you a lot of time and 1) Building Under Construction (BUC) energy. • 5% Option Fee paid [week 0] • Sales & Purchase (S&P) Agreement • Location and Neighbourhood – received [week 2] Which district would you prefer, and • S&P exercised [week 5] in which neighbourhood? Do you • Stamp Duty paid [week 7] need to be near a particular school or • 15% Purchase Price paid [week a Mass Rapid Transit (MRT) station? 8 for private properties/week 9 for Executive -Condominium (EC) • Size and Feature – How big is the &Design, Build and Sell Scheme unit and what kind of facilities are (DBSS)] offered? Coupled with your budget, • Progressive Payment till Completion this will determine if it is a private or public housing. 2) Resale Private Property • 1% Option Fee placed [week 0] • Age – This will determine your • 4% Exercise Fee paid [week 2] resale value, and possibly a higher • Stamp Duty paid [week 4] renovations expenditure. The • Completion [week 8 to week 16] benefits of a mature estate are better amenities and no new developments 3) Resale Housing and Development that might surprise you down the Board (HDB) Flat road. • $1,000 Option Fee placed / Valuation Report requested / Bank • Space and Layout – How many Loan secured [week 0] people will be living together? Do • $4,000 Exercise Fee paid [week 3] you need special functions like a • First appointment with HDB [week quiet study, large dining area, spare 7 to week 11] Completion [week 13 bedroom, etc? to week 19] Buying a property should be a Shopping pleasure, but it can turn out to be a This is where a property agent really costly mistake. Knowing when to do comes in handy. Most of us know that what will certainly help minimize the they are paid a commission. It is also unexpected. Engage the relevant for this reason, that you are assured specialists to assist you to smoothen he will act in your best interest to the process. You never know where conclude a deal, especially in price these new contacts will lead you; negotiations. His expertise includes in- perhaps more opportunities falling into depth knowledge of a neighbourhood, your lap.

92 93

EVENTS

Recognising & celebrating the very best in real estate iProperty.com Malaysia’s Agents Advertising Awards (AAA) 2017 recognises & celebrates the highest levels of achievement, leadership and innovation, by leading and aspiring agents, negotiators and agencies in the real estate industry nationwide.

The atmosphere was highly charged called The Nebula Stars. The at KL Hilton on 15th August, 2017 as performances were followed by the iProperty.com Malaysia’s Agents an opening remark by Haresh Advertising Awards (AAA) returned Khoobchandani, CEO - REA Group, much bigger and more exuberant Malaysia & Singapore. In his address, than the previous year. The prestigious Haresh expressed his appreciation for awards ceremony hosted numerous the attendees who took time off their real estate industry professionals on a schedule to join him in celebrating and spectacular gala evening on a mission honoring excellence within the real to give recognition and celebrate estate industry before kicking off the the highest levels of achievement, award ceremony. leadership and innovation by agents, The winners were selected by a 1 negotiators and agencies in the real group of highly acclaimed judges estate industry. which comprises Dr. James Tee, Guests were first treated to a Managing Director / Chief Executive

performance by Grace Tan, who Officer of ; 1 Eric Kho, Haresh, Eric Lim & Leon Kong showcased her advanced technical David Chong, Former VP of Malaysia abilities joined by classically trained Property Incorporated (MPI); ballerinas donning stunning LED Haresh Khoobchandani; Richard illuminated tutus for a bespoke Oon, National Tax Director, TY performance. Guests also enjoyed Yeoh International and; Ahyat Ishak, a showcase of immense talent by a Founder of the Strategic Property group of extraordinary performers Investor Programme.

PB 95 Congratulations AGENCY AWARDS

AGENCY OF THE YEAR Agency of the Year – Titanium IQI Realty

Agency of the Year – Platinum Tech Real Estate

Agency of the Year – Gold Dreamvest Realty

2 OUTSTANDING REAL ESTATE AGENCY Outstanding Real Estate Agency – Titanium Vivahomes Realty

Outstanding Real Estate Agency –Platinum Tech Real Estate

Outstanding Real Estate Agency – Gold Dreamvest Realty

TOP AGENCY Top Agency in the Central Region 3 Affirm Plus Properties Dreamvest Realty IQI Realty Propleague Realty Reapfield Properties (Bukit Jalil) Vivahomes Realty

Top Agency in the Northern Region IQI Realty (Penang) Reapfield Properties (Penang)

4 Top Agency in the Southern Region CBD Properties (Johor Bahru) Eco Harta Properties (Johor Bahru)

Emerging Real Estate Agency Dreamvest Realty

Elite Project Marketing Agency Propstar Realty

Visionary Real Estate Agency IQI Realty 5

2 Exemplary Agency Culture (L-R) Leon Kong, Alvin Foo & Eric Yap 3 (L-R) Haresh & Valen Low Propstar Realty 4 (L-R) Jessie Wang & Kevin Singham 5 (L-R) Loke Wai Leong & Teammy Lee

96 97 EVENTS

INDIVIDUAL AWARDS

Outstanding Leader Breakthrough Negotiator of the Year (Residential) Eddie Cheong, Reapfield Properties (Bukit Jalil) Teammy Lee, Team Leader of GS Realty

Visionary Trainer Breakthrough Negotiator of the Year (Commercial) Keegan Soh, Team Head of IQI Realty (Ara Damansara) Daniel Leong, Probationary Estate Agent of Square Feet Real Estate

Star Negotiator – Area (Residential) Teammy Lee (Bandar Sungai Long), Outstanding Performing Negotiator (Residential) Team Leader of GS Realty Jeff Lim, Senior Negotiator of IQI Realty (KLCC) Caryn Wee (Glenmarie), Senior Negotiator of Gather Properties Lawrence Tan, Senior Negotiator of Worldmart Properties (Johor) Sean Tan (Mont Kiara), Senior Negotiator of IQI Realty (Desa Sri Hartamas) Ganesh Ramanathan, Team Leader of Square Feet Real Estate Freeman Woo (Mont Kiara), Senior Negotiator of MIP Properties

Dave Soh (Tropicana), Outstanding Performing Negotiator (Commercial) Team Manager of MIP Properties Daniel Leong, Desmond Tan (SS2), Probationary Estate Agent of Square Feet Real Estate Negotiator of Twincrest Properties

Lawrence Tan (Johor Bahru), Senior Negotiator of Worldmart Properties (Johor) SPECIAL RECOGNITION AWARDS Jeff Lim (Glenmarie), Senior Negotiator of IQI Realty (KLCC) Best Employee Development Agency of the Year Reapfield Properties Star Negotiator – Area (Commercial) Jenny Liu (KL Sentral), Global Visionary Award Senior Negotiator of Greenfield Properties (Damansara Avenue) IQI Realty

Winson Yong (Puchong), Senior Negotiator of IQI Realty (KLCC) Perak Emerging Agency Gather Properties (Ipoh)

Stellar Negotiator Johor Emerging Agency Daniel Leong, Probationary Estate Agent of Square Feet Real Estate Rina Properties (Johor Bahru)

Jelly Tan, Senior Negotiator of Southern Properties Innovative Digital Marketing Agency Propleague Realty

The Extra Mile Award of Excellence Freeman Woo, Senior Negotiator of MIP Properties Metroworld Realty

96 97 7 8

Generous sponsors of the prestigious Dealer Principle of Hap Seng Star 7 Propleague Realty 8 Propleague, Vivahomes, Gather Properties, night were: UCSI University, Hap Seng (Mercedes-Benz); Prof. Dr. Tan Chun Dreamvest and iProperty.com Malaysia Star (Mercedes-Benz), Gintell, Hilton Wei, Deputy Dean, Faculty of Business 9 (L-R) Wayne Lim, Dave Chong, Caleb Chin & Tony Yap (IQI Realty Penang) Kuala Lumpur and Grab. Among and Information Sciences and Stephen 10 Haresh presenting his opening speech the award presenters who graced Corneilius, CEO of UCSI Extension; the event were: Prof. Dr. Ooi Keng Asha Menon, HR Director of REA Boon, Dean, Faculty of Business and Group – Asia; Firdaus Musa, Founder Information Sciences, UCSI University; & Managing Director of Firdaus and Dr Daniele Gambero, CEO of REI Group Associates Property Professionals; of Companies; Eric Lim, President of Chen Siow Li, Assistant Manager, Malaysian Institute of Estate Agents; eCommerce of Gintell; among others. Chris Tan, Founder & Managing Partner The official media partners were Focus of Chur Associates; Ishmael Ho, CEO of Malaysia and Sin Chew Daily. Ho Chin Soon Research; Wilson Wong,

9 10

98 PB AAA WINNERS

CBD Properties ( JB) Top agency in Southern Region

“I also believe in having a set direction and a comprehensive understanding of the market in order to cater to the needs of different sellers and buyers. Thus, it is important that every team member is knowledgeable and professional in their conduct because these are the winning qualities.”

LILY LO, Director

Adrian Wang and I felt that this was a other real estate agents, I was looking good and reliable platform for me to for a trustable and reliable online achieve my next goal in real estate. advertisement portal that will allow me I became Head of Agency in August to put myself out there as a negotiator 2015. Although the market was and advertise property listings to reach challenging, regardless of whether you out to a wider range of audience. And are already seasoned or still green in iProperty.com provided just the online this industry, I believed that as long advertisement platform that I needed as I stayed focus on the business, the for my sales and marketing needs. company will prosper. My goal was Most of today’s property sellers, Could you share with us the story to set a culture in CBD whereby the purchasers and investors are internet behind the inception of this agency? teammates’ diligence and reliability savvy thus will have no difficulties I am a chemist by qualification who are recognised especially with regards in locating my advertisement with ventured into real estate business to their efficiency and effectiveness in just a few clicks. My featured listings in 2007 to be become a real estate providing real estate related services have never failed to bring in good negotiator. such as sale, buy, rent, lease, project responses, which indirectly enhances But after 10 years of working in the marketing and all kinds of real estate CBD Properties’ branding.I also industry, I felt that there’s still more that consultation services. We aspire to believe in having a set direction and a I can do, especially in terms of business continue developing well-trained, comprehensive understanding of the capacity and the improvement of my quality team members. I strongly market in order to cater to the needs services to my clients. I wanted to believe that CBD Properties will of different sellers and buyers. Thus, it make the dream of putting together continue growing from here on. is important that every team member an excellent team of negotiators, by is knowledgeable and professional in imparting my years of knowledge What do you think is the biggest factor their conduct because these are the and experience to them a reality. The that contributed to your winning? winning qualities. opportunity came to me when I met Personally, having a presence online the founder of CBD Properties, Dato helped me a great deal. Much like

PB 99 (top) CBD Properties (JB) How will winning this award add What are your expectations of to your company’s reputation and next year’s AAA? What will your credentials? preparations be like to increase your Winning this award will help build chances of winning next year? customers’ confidence towards the I believe in the saying, “There is no such brand and strengthens CBD’s brand thing as a free lunch in Real Estate”. positioning as well as credibility. To me winning this award gives us the As this is the first time we’ve chance to reorganize and celebrate the won an agency award, we are all achievement within the organization extremely proud that our team effort as well the contribution made by each and collective work have received and everyone in the company. So, in recognition. preparation of next year’s AAA, we We are all very delighted and at the will continue to work hard to grow the same time humbled to receive this agency. award. We appreciate the chance and I would like to take this opportunity the support that was afforded to us by to express my gratitude towards my the judges. The exposure that we’ve family, husband, business partner, CBD receive by winning this award will help Management Team and my teammates us stand out. who have been supporting me through this journey. We will continue to provide the best services the industry has ever seen.

100 101 AAA WINNERS

Reapfield Properties (Bukit Jalil) Top agency in the Southern Region

Could you share with us the story behind the inception of this agency? What do you think is the biggest factor We were young property negotiators that contributed to your winning? when we started this agency. And Customer satisfaction is our utmost since we had no reputation yet in the priority. We attribute our success to industry during that time, we had our comprehensive training system to build the agency from scratch. and this includes the theory aspect It was only through hard work and of real estate and also the real perseverance that we climbed the life experiences gained by doing ranks from zero to producers in the fieldwork. On the theory side, we industry. organise weekly training by lawyers Real estate has transformed our and bankers to teach our new and life and we believe this industry can senior negotiators about the aspects change other people’s life for the better of real estate transactions and end too. We went through the tough times, financing requirements. We also hold and emerged successful, and we would a weekly business sharing session to like to make it happen for our new discuss about the day to day aspect property negotiators too. We hope all of our work. Here, we troubleshoot our new agents can accomplish what objections and challenges faced by our we have accomplished and change negotiators when dealing with buyers their lives for the better. and sellers. Fieldwork training is also very important, because new negotiators need to be given the confidence to dive into the industry. We lead by example “Customer satisfaction is our utmost in real life listing appointment, from priority. We attribute our success to our taking pictures, taking notes about the property all the way to getting the comprehensive training system and this owners to sign our appointment forms. Having an excellent training quality includes the theory aspect of real estate and and producing skilled negotiators also the real life experiences they gained by are all essential ingredients in being successful in this industry; we attribute doing fieldwork.” this to our Reapfield system which

JOSH CHONG, Director

100 101 has provided us with a good starting and credentials to our leadership and (top) Reapfield Properties Sdn Bhd (Bukit Jalil) platform. company as we hope to recruit new They have laid a solid foundation property negotiators who want to for us to build on in terms of business create their own success story; it will management. I would like to thank all give them the confidence that this is our sellers and buyers; without them, the agency that will give them the right all this would not have been possible. leadership and training to achieve that. We also hope to secure more new What does winning this award mean projects from developers using our to you and your company? track record, to support the expanding Personally, I am very happy to have demand for primary properties. We won this ward and I feel a sense of hope to leverage on the brand’s newly pride as this company has only been in gained reputation and track record to existence for a little over two years. To continue getting more exclusive and be recognised by iProperty.com for the quality listings from owners in the sub- effort that we’ve put into our business sale market. means a lot to us. Being recognised for our success is something we will share What are your expectations of with our team for years to come. next year’s AAA? What will your preparations be like to increase your How will winning this award add chances of winning next year? to your company’s reputation and We will continue recruiting and credentials? producing quality negotiators in order Winning this award will add credibility to win next year’s agency of the year

102 103 AAA WINNERS

Rina Properties Asia Johor emerging agency

“My team and I were newbies then, competing in an industry that is extremely competitive and cutthroat. But despite such immense pressure, through relentless encouragement, we made it. This award shows us that all the effort that we put in was worth it and it drives us to want try even harder next year.”

VALEN LOW, Southern Region Manager

What was the inspiration behind this What do you think is the biggest factor agency? that contributed to your winning? Our agency’s name in Chinese is ‘Xin We have always believed in teamwork: Fu’ which translates to happiness in we work, play and learn together as a English and that is the core mission family. So without the support and the of the company. We wanted to dedication from each and every one bring happiness to our clients, team of our team member, we would never members as well as their family have gone this far and achieve what we members. We strongly believe that have achieved today. And we would through the services that we offer, like to thank iProperty.com for giving our clients will be able to find their us the opportunity to participate in dream home, investors will go through this meaningful award campaign. We a seamless buying or selling process, also would like to express our gratitude while developers will experience a new towards their sales team as they have level of satisfaction; we work hard to put in a lot of effort in making all this provide the best services because we happen. put their happiness at the centre it all. We are proud to say that our agency members also find their happiness through us.

102 103 AAA WINNERS

(top) RINA Properties Asia What does winning this award mean How will winning this award add to you and your company? to your company’s reputation and This is the first award Rina Properties credentials? Asia’s Southern Branch has ever This simple accolade means more to us received in the real estate industry. It than we can imagine. It will help us forge is such an honour to be recognised stronger bonds with our clients, investors for our hard work, dedication and and developers. What is most important achievements and most importantly to me is that, this award validates and to receive a recognition by Malaysia’s recognises my agency member’s silent number one real estate platform. contribution no matter how big or small. I’ve been managing Rina Properties Asia’s Southern Branch since 2016, What are your expectations of next and I have had to brace through so year’s AAA. What will your many challenges and hurdles to lead preparations be like to increase your the team and take it to where it is chances of winning next year? today. My team and I were newbies We have already started preparing for then, competing in an industry that is AAA next year. We are seeking the advice extremely competitive and cutthroat. and guidance from iProperty.com’s But despite such immense pressure, professional and dedicated marketing through relentless encouragement, we team as well as various experts in the made it. This award shows us that all industry. We want our team to be better the effort that we put in was worth it prepared for the coming award and we and it drives us to want try even harder strongly believe that we can do better next year. than we did this year.

104 PB

AGENT’S ADVICE

SETAPAK: A Diamond in the rough

Vivahomes Setapak’s Assistant Resident Manager, Bernard Khoo shares on the potential that Setapak harbours and the urban rejuvenation plan that is set to transform its property landscape.

In your opinion, where are the areas to another a breeze; on the other hand that currently still hold good capital PJ and Cheras areas are accessible via appreciation potential in both primary KTM commuter. Setapak offers all of and secondary market? these conveniences and yet, prices of In my opinion, capital appreciation properties here are still affordable. “For an area that potential is highly dependent on supply is still developing, and demand of a particular area. Let’s Are there future developments that are take Setapak as an example: Having expected to boost the property prices Setapak already has had Tunku Abdul Rahman University and value in the area? College (TARC) established there, Presently, there are a few malls all the infrastructures Setapak has shown a very good capital operating in this vicinity which has appreciation trend over the years. further enriched the quality of life for and facilities needed TARC acted as a catalyst that the residents here as they no longer boosted the population there, which have to travel far to shop. in place… Setapak as a result increases the demand for Another project that will be the property. Plus, a lot of the graduates catalyst to the price appreciation of offers all of these chose to stay back and settle down properties here is the rehabilitation here due to familiarity. And of effort of Sungai Gombak. As part of conveniences and yet, course, in addition there are other the KL River City project, Ekovest prices of properties mixed-development projects such as made a commitment to transform a SkyWorld which was launched in 2014 three km stretch of Sungai Gombak here are still that had further transformed Setapak into a vibrant riverfront development into the next investment gem. by 2020. affordable.” This is one of Klang Valley’s most ambitious urban rejuvenation projects - BERNARD KHOO What are the advantages of purchasing in Setapak compared to the other yet as the riverfront is envisioned prime, more matured areas in Greater to mimic some of the world’s iconic KL? landmarks, such as Australia’s For an area that is still developing, Yarra River, London’s river Thames, Setapak already has all the Paris’ river Seine, and San Antonio infrastructures and facilities needed River Walk in the United States. in place. Located only 15 minutes Once completed this project will away from the city centre, with Duke feature several components such as highway and MRR2 within proximity, serviced apartments, retail shops Setapak has excellent connectivity. and commercial blocks. Once all In addition, the Wangsa Maju LRT these amenities have taken place, I station stands just five minutes away, believe Setapak’s property prices will which makes travelling from one end experience further appreciation.

106 PB

METROWORLD REALTY: On a mission to the top

It has been 14 years since Metroworld Realty made its debut in the property scene but the agency shows no signs of slowing down. Today, headed by its Founder/Executive Chairman, Dr Jason Doo and, CEO, Low Tung (LT), there is no stopping their rapidly expanding force.

- MIRA SOYZA

the technical aspect of the industry. have a corporate restructuring that My thirst for learning naturally allowed will position Dr Jason Doo as the me to enhance the skills that I acquired company’s Chairman & Advisor, from these mentors. Looking back and me as the new Group Chief today, their advices and guidance Executive Officer (CEO) to oversee have made me who am I today and no the operations and expansions of amount of money can buy that. Metroworld Group of companies.

What is the brief history of What makes Metroworld different Metroworld? How did it all begin from all the other Real Estate Agencies and what are some of the company’s around? milestones? JD: Aside from the ISO standards LT: This company was founded in achivement, our agency has a board of 2003 by Dr Jason Doo Chang Wei, a marketing support service for our real principal and Estate License holder estate negotiators. We have the JPPH with 25 years of experience in the real (Jabatan Penilaian & Perkhidmatan estate industry. It has weathered ups Harta) transaction data to support (L-R) Low Tung & Jason Doo. and downs, and overcome obstacles our negotiators during property and remain a strong presence for valuations and a professional website 14 years. Today, Metroworld is the to strengthen the company’s presence Do tell us about yourself and highlight only real estate company in Malaysia in the digital world. On top of that, we some of your most interesting that achieved ISO 9001 standard, also have a Metroworld ‘App’ that can experiences in the real estate industry? which means we run with proper be downloaded from the Playstore and LT: I have been in this industry for 13 audited accounts and all matters Applestore for smart phone users. We years mainly focusing on industrial pertaining to the company are also provide an external server that and commercial properties. Starting handled professionally. We have also allows agents greater mobility and the a career in this field was no easy feat received as “Award of Excellence” proper digital support while working. but I am blessed to have met two from iProperty.com for reaching this Our in-house sub sale training mentors early on – Tan Sri Dato Sri M. milestone. system is recognized as one of the S. Tan and Gerald Varughese (Gerald Our team of administrators and most technical real estate training in Peter) – the former gave me advise on real estate negotiators are skilled the country. We also ensure that our how to pursue a successful career in in providing the proper marketing negotiators and project sales advisors the business world, while the former support and professional real estate are well versed about the products taught me how to become an industrial services. We have established more that they are selling and have a full real estate specialist. He also taught than 15 branches all over Malaysia, understanding on the competitors’ me the art of Real Estate services and and by the end of 2017, we plan to strengths and weaknesses.

108 109 AGENT’S VIEWS

“To fulfil Metroworld’s vision to become a market leader in the real estate industry and to be the People’s choice agency we’ve targeted to open up at least one branch in each state in Malaysia, a minimum of two branches in the Johor region, and to extend our expansion to Kuantan, Ipoh, as well as East Malaysia in the next two years. We want to build a company where everyone stands a chance to be the next CEO.”

Where do you see Metroworld in the in the sub-sale and secondary sales next five years? market (in the Residential, Commercial JD: To fulfil Metroworld’s vision to and Industrial sector), expanding our become a market leader in the real project marketing team, setting up our estate industry and to be the People’s own valuation department and forming choice agency we’ve targeted to open a property management department. up at least one branch in each state in A team of corporate negotiators and Malaysia, a minimum of two branches agents will also be formed to work on in the Johor region, and to extend our corporate deals. We will be working expansion to Kuantan, Ipoh, as well as with more developers on projects sales East Malaysia in the next two years. and expand our portfolio with some We want to build a company where international property projects. These everyone stands a chance to be the will be our forte for the next 5 years, next CEO. Part of our future plans also which is in line with Metroworld’s motto include strengthening our position for year 2018 “Together We Build”.

108 109

SUPERSTAR AGENTS

CENTURY BAY, 2ND FLOOR (CONFERENCE 3) NO.5 LINTANG PANTAI JERJAK 11700, PULAU PINANG, MALAYSIA Tel : 04 655 1908 Fax : 04 655 1908 Website : www.meridinproperties.my

PENANG PENANG PENANG

Aemy Chew Steven H’ng SK Ho 016 410 6600 012 428 5444 010 202 8282 Penang Penang Penang New Projects / Sub-sale / Sub-Sale / Commercial / Sub-Sale / Commercial / Commercial / Residential / Residential / Landed Residential / Landed Rent [email protected] [email protected] [email protected]

PENANG PENANG PENANG

Grace Wong Emily Chuah MC Weng 012 472 2816 012 415 5291 012 628 0970 / 016 418 0970 Penang Penang Penang Sub-sale / Commercial / Sub-sale / Commercial New Project, Sell / Rent Residential Residential / Landed Specialist Jelutong, Gelugor [email protected] [email protected] & Queensbay Area [email protected]

A-G03, MARC SERVICE RESIDENCE, NO 3 JALAN PINANGM 50450 KUALA LUMPUR Tel : 03 1234 5678 Fax : 03 1234 5678

KLCC KLCC KLCC

Stefanie Loh Jess Chu Leric Yap 012 303 2830 012 300 6993 019 361 4603 KLCC / Mont Kiara / KLCC / Mont Kiara / KLCC / Mont Kiara / Damansara Heights / Bangsar Damansara Heights / Bangsar Damansara Heights / Bangsar Residential / Commercial Residential / Commercial Residential / Commercial stefanie.klcc@ jess.klcc@ leric.klcc@ orientalrealty.com.my orientalrealty.com.my orientalrealty.com.my

KLCC KLCC KLCC

Annie Lim Ceci Lim Sandy Low 012 339 5668 012 448 3448 012 339 0438 KLCC / Mont Kiara / KLCC / Mont Kiara / Residential / Commercial / Damansara Heights / Bangsar Damansara Heights / Bangsar Project Marketing Residential / Commercial Residential / Commercial sandy.klcc@ annie.klcc@ ceci.klcc@ orientalrealty.com.my orientalrealty.com.my orientalrealty.com.my

PB 111 30-3-2, JALAN 1/101C, CHERAS BUSINESS CENTRE, 56100 CHERAS, KUALA LUMPUR Tel : 03 9133 3232 Email : [email protected] Website : www.propleague.com

CHERAS CHERAS CHERAS

Jeremy Ng Cynthia Sanchez Steven Tay 017 453 5558 012 283 7122 012 274 8399 Balakong KLCC & Ampang Uthant-Hilir Klang Valley Commercial / Residential Residential / New Project Residential ,Commercial / New Project Shadowming55 Cynthia.sanchez7122 @hotmail.com @gmail.com [email protected]

CHERAS CHERAS MONT KIARA

Jamie Chen Ocean Lee Diana Poo 012 337 7292 017 846 6992 010 931 4953 KLCC Cheras Condo Specialist Mont Kiara / Publika / Desa Sri Hartamas Residential / New Project Residential / New Project Residential / Commercial [email protected] [email protected] [email protected]

MONT KIARA MONT KIARA MONT KIARA

Edmond Chau Rachael Tan Eric Leong 012 668 0022 012 390 1026 012 554 8429 Mont Kiara Desa Parkcity Desa Parkcity New Project / Sub Sales / New Project / Sub Sales New Project / Sub Sales Rental and rental and Rental edmondbass.property rachaeltan.property [email protected] @gmail.com @gmail.com

MONT KIARA KUALA LUMPUR KUALA LUMPUR

Esther Yee Carmen Lee Ivy Heong 012 631 3247 019 374 1557 012 695 8268 Bukit Jalil / Dutamas / Tropicana, Damansara Ara Damansara, Lakefield’s Height, Damansara, PJ Saujana & PJ Residential / New Projects Residential / New Project Residential / New Project [email protected] carmenlee.oneworld [email protected] @gmail.com

KUALA LUMPUR KUALA LUMPUR KUALA LUMPUR

Shirley chan Selina Wong Sean Cheah 016 666 1782 016 252 2725 016 360 2086 TTDI , PJ Damansara, TTDI, PJ Ara Damansara, Subang Jaya, Damansara Perdana Residential / New Project Residential / New Project Residential / New Project [email protected] [email protected] seanpropleague @gmail.com

112 113 SUPERSTAR AGENTS

NO. 25-3, JALAN PJU 5/20E, THE STRAND, KOTA DAMANSARA, 47810 PETALING JAYA, SELANGOR Tel : 03 6150 3070 Email : [email protected] Website : www.vivahomes.my

OUG DAMANSARA PERDANA OUG

Tan Chin Meng Chua Kian Nan Lim Pey Ling 012 695 2210 016 280 7420 012 290 2800 Sungai Buloh Kepong & Desa Park City KL & Selangor Residential & Industrial Residential Project Marketing [email protected] kentchuavivahomes propertyapplelim @gmail.com @gmail.com

PUCHONG DAMANSARA PERDANA VPG

Wong Poh Yin Choo Teck Chuan Lee Hui Shuen 012 548 8681 012 322 6044 010 435 9992 Puchong, PJ, USJ Damansara Kepong Residential Residential Residential [email protected] [email protected] [email protected]

USJ DAMANSARA PERDANA USJ

Goh Cheong Leong Tan Zheng Hong Khoo Hwee Meing 016 673 2514 010 778 0000 012 369 3089 Setapak & Wangsa Maju Setapak, Wangsa Maju, Setapak & Taman Melawati Sri Gombak Residential Residential Residential mandy.khoo2339 [email protected] [email protected] @gmail.com

VPG DAMANSARA PERDANA USJ

Phang Yee Ting Cheong Kar Yee Chee Khai Ming 012 677 2719 016 502 0868 014 338 8623 Kepong Mont Kiara USJ & Subang Residential Residential, Commercial Residential [email protected] michellecheong87 clement.khaiming @gmail.com @gmail.com

DAMANSARA PERDANA KOTA DAMANSARA KOTA DAMANSARA

Benjamin Lim Nicky Wong Chew Zhia Sheng Joon Liang Kong Meng 012 626 2869 019 663 7661 012 354 1672 Seremban, Senawang, Sentul Seremban, Senawang, Port Dickson Residential Port Dickson Residential Residential [email protected] [email protected] [email protected]

112 113 Let’s face it - House prices in Malaysia are UNAFFORDABLE

The National House Buyers Association (HBA) wholeheartedly agree with the research report by Khazanah Research Institute (KRI) titled “Making Housing Affordable” which shows that average house prices in Malaysia are more than 4-times the median income which makes such properties to be considered as “seriously unaffordable”.

HBA has been raising alarm bells income groups as well as the younger there is no problem with the housing for years over the prices of property generation will not be able to afford to sector in Malaysia and prospective in Malaysia which have risen beyond buy their own homes. This is turn, can house buyers are still able to afford the reach of the majority of the rakyat. bring about various social problems for their dream homes. These business Also, unless serious measures are the country. groups have openly touted that taken by the government, an entire For too long, the government has property prices of up to RM500,000 ‘Homeless Generation’ comprising listened to the advice from business are deemed affordable for first-time mainly of the lower and middle- groups with a vested interest; that house buyers and for those who are

114 115 REGULARS

upgrading their existing property, the The government should also define been touting as affordable which price that is deemed affordable is up to what constitutes as “Affordable ranges from RM400,000 (for first-time RM1 million. Property” and the type of property. house buyers) and up to RM1 million The aforementioned report Affordability should be benchmarked (for upgraders). also confirms what HBA has been against the an nual household income The Household Income and Basic highlighting in the past - that the of the respective buyers and the Amenities Survey 2015 done by the issue of housing affordability is only international accepted ratings of Department of Statistics revealed a recent phenomenon as there were “Affordability Rating” used by various that Median Monthly Household much fewer complaints about property reputable bodies such as World Bank, Income for 2015 in Kuala Lumpur affordability compared to say 12 years United Nations and even Khazanah and Selangor were RM7,620 and ago in 2004. Research, as shown in Chart 1. RM6,214 respectively. Annualized, According to KRI, the Malaysian HBA recommends that “Affordable this translates to RM 91,440 for Kuala all-house price had grown at a Property” should be those priced Lumpur and RM74,568 for Selangor. compounded annual growth rate between RM150,000 to RM300,000 The affordability rating for property (CAGR) of 3.1% from 2000 until 2009. with a minimum build-up of 800 priced between RM150,000 and up to However, between 2009 and 2014, sq ft (2-bedrooms ) to 1,000 sq ft RM1 million benchmarked against said it grew at a CAGR of 10.1%, which is (3-bedrooms). This is in stark contrast median annual household income is almost 3 times more than the growth with what housing developers have outlined in Chart 2. from 2000 to 2009. The government must conduct an in-depth analysis and investigate what caused the sudden (Chart 1) spike in property prices during this Median Multiple of Property Price over Affordability Rating brief period. Annual Household Income There is a direct relationship between Severely Unaffordable 5.1 & Over prices of completed properties (sub- sale properties) and prices of new Seriously Unaffordable 4.1 to 5.0 properties launched by developers.

Whenever there is an increase in Moderately Unaffordable 3.1 to 4.0 the prices in the secondary market, developers will launch new properties Affordable 3.0 & Under at a premium to the prices offered in the secondary market. Conversely, (Chart 2) whenever developers launch new Median Median projects at premiums compared to Multiple of Multiple of Property Property the secondary market, the prices of Property Affordability Price over Price over Price Rating sub-sale properties will be pushed up Annual Annual further and this creates a vicious cycle. Household Household Annual Area Income Income The price increase in one area can Median spill over to the surrounding areas and in turn push up property prices in these Property Price as multiple of Annual Median Household Income And Affordability Rating thereof areas too.Thus an increase in property prices in central Kuala Lumpur can push up prices in say Cheras which 3.28 times 5.46 times 10.94 times 1.64 times can push up prices of properties as Kuala RM91,440 Moderately Severely Severely Lumpur Affordable far as Kajang and beyond. As a result Unaffordable Unaffordable Unaffordable of the sudden spike in property prices between 2009 to 2014, the lower

and middle-income group find it very 4.03 times 6.70 times 13.41 times 2.01 times difficult to buy their own homes in Selangor RM74,568 Seriously Severely Severely Affordable many locations, and not just in Kuala Unaffordable Unaffordable Unaffordable Lumpur.

114 115 What housing developers claim to be properties to be priced at between determined, the government must affordable is definitely not affordable. RM150,000 to RM300,000 to cater to implement concrete, holistic and Even HBA’s recommendation for the larger needs of the rakyat whom sustainable measures to resolve this properties costing up to RM300,000 mostly fall in the lower and medium problem. KRI had made the following slipped to the category of ‘Moderately income groups. preliminary recommendations Unaffordable’ to ‘Seriously After the main reasons for properties to resolve this issue of property Unaffordable’, albeit slightly. Hence becoming unaffordable has been affordability: there is a pressing need for affordable identified and the affordability range

Develop measures to improve Developing measures to plan for the efficacy of the construction a steady supply of housing at Developing measures to reduce industry’s delivery syst em to affordable prices. pressures leading to rapid supply housing at affordable This is to ensure that the right house-price escalation. prices. numbers are built at the right This involves imposing a This involves improving the places at the right time. In order moratorium period whereby efficiency and efficacy of the to match this steady supply to house buyers cannot sell their property developers so that it is demand efficiently, detailed affordable properties within the more cost efficient and profitable information on demand and first 5-years of ownership. to build affordable properties. supply of housing at specific locations will be required.

Conclusion We understand that the ‘Making Housing Affordable’ report represents the first of a series of reports which aims to investigate and resolve the issue of housing affordability and more recommendations will be put forth by KRI. Hence we shall refrain from commenting on the proposed measures until we see a complete picture. In conclusion, although this honest assessment of the current situation is a few years late; it is never too late and represents a good start. After all, it is said that the first step towards solving any problem is to first admit that there is a problem that needs to be fixed rather than burying our heads in the sand, i.e. denying it exists. It is hoped that more recommendations will be put forth and the government will have the willpower and courage to do what it takes to tackle this problem.

NATIONAL HOUSE BUYERS ASSOCIATION [HBA] No. 31, Level 3, Jalan Barat, Off Jalan Imbi, 55100, Kuala Lumpur Tel: 603-2142 2225 | 012-334 5676 | Fax: 603-2260 1803 Email: [email protected] | Web Site: www.hba.org.my

Striving for House Buyers Rights and Interest

116 PB

5 yellow star is a no-no Identify the negative factors of star #5 in Flying Star Feng Shui and overcome it.

by the Chastity Star (Lian Zhen Xing), the Yellow star represents volatility, aggressiveness and menace. Hence why many have associated this star as the most negative and dangerous one.

The effects Generally, when #5 star appears in the chart in a Facing or Sitting Star position, it typically represents One of the negative outcomes at a more catastrophic level. When the star is effects of #5 triggered, the occupant may face serious consequences. Typically the star is financial type of problems that arise by the #5 difficulty or star existence in the chart are: bankruptcy i) The constant need to deal will multiple problems ii) May cause a fatal accident iii) Facing financial difficulty or bankruptcy iv) Overcoming serious illness

How to identify the #5 star in the chart If you are an avid learner of Feng When reading your chart, 2 of the 9 Shui, you would come across the Xuan palaces will contain the #5 star either as Kong terminologies. At its core, Xuan a Sitting or Facing Star and one palace Kong Feng Shui revolves around the will contain the #5 as the Base Star. Nine Flying Stars. Each of the 9 stars Bear in mind that all Flying Stars needs has their own unique positive and to be triggered or activated in order negative qualities. The stars influence for any of their negative or positive depends on the timeliness of the qualities to manifest itself. Stars and the support it receives from external environments. Is there a solution? In Feng Shui, the first rule we must The number #5 star remember when it comes to the In this article, we will focus on the #5 application is to avoid any worse case Yellow Star. In Feng Shui, it is generally scenarios. In reality, a perfect Feng known as the negative star and it is not Shui is rare to find in your chart. Thus, associated with any Trigram. Governed it is imperative that you eliminate or

118 119 REGULARS

Place sporting trophies/medals or pewter ware in the bedroom as the #5 star is weakened by metal. Divide the kitchen avoid any negative factors rather than by using the 9 searching for a good one. Prevention is always better than grids method and a cure. For example, if any of your 3 factors (main door, kitchen and locate the stove bedroom) is located at the #5 star, try to look for available alternatives. Here or hob in the are some examples: 1-4 combination i) If the #5 star is triggered on your location. main door - use the side door or back door instead

ii) If the #5 Sitting star is triggered on Note: When looking into the your bedroom – try sleeping in another bedroom factor, we generally look at room. However, if the #5 star is the the Sitting Star Facing Star and is accompanied by the Positive Sitting Star, then the negative iii) If the #5 star is found in the ‘facing influences does not apply to you as the location’ of the kitchen – You may use Dato’ Joey Yap is the leading star is inactive. the Tai-Ji technique to eliminate it. Feng Shui, BaZi and Face Reading Check if there is any Yin form activity Divide the kitchen by using the 9 Grids consultant in Asia. outside the bedroom as it will trigger method and locate the stove or hob in the #5 Sitting Star. If it does exist, place the 1-4 combination location. Website: www.masteryacademy. sporting trophies/medals or pewter Note: When looking into the kitchen com / www.joeyyap.com ware in the bedroom as the #5 star is factor, we generally look at the weakened by metal. Facing Star.

118 119 PROPERTY BELOW RM500K Jalan Klang Lama (Old Klang Road), Sri Petaling, Endah Regal Condominium, Mont Kiara, Gateway Kiaramas, Gemilang Indah, Taman Shanghai, Condominium, SALE, RM 378,000, 3r2b, Condominium, SALE, 1r1b, BU743sqf, Condominium, SALE, RM 420,000, 3r2b, BU1141sqf, Alvin Fong, 011-2625 7411, Golden Vista Realty, 012-235 5256, BU941sqf, Marcus Yu, 018-232 7000, REN:14054, E(1)1501/6, UP5510720 E(3)0436, UP5554804 REN:22561, E(3)1546, UP5572427

Subang Jaya, Subang Perdana Goodyear Court 10, USJ, Apartment, SALE, RM 420,000, 3r2b, BU1070sqf, Malik Ahmad, Cheras, Angkasa Condominiums, Taman Shah Alam, Education City Sentral, Setia 013-318 8969, REN:17567, Connaught, Condominium, SALE, RM Alam, Serviced Residence, SALE, RM VE(1)0253, UP5408518 430,000, 3r2b, BU920sqf, Melvin kong, 330,000, 2r1b, BU657sqf, Liz Chuah, 018- 012-632 9208, E00000, UP5614765 370 2557, E00000, UP5621939

Sepang, townhouse, 1-sty Terrace/Link House, SALE, RM 475,000, 4r5b, BU1800sqf, LA24x82sqf, PROPERTY @ KLANG Elaine Lee, 6012-549 1341, VALLEY REN:04629, E(1)1215, Ara Damansara, Medalla @ Oasis UP5569588 Corporate Park, Kelana Jaya, Condominium, RENT, RM 1,900, 1+1r1b, BU708sqf, Garry Chan, 016-988 8280, REN:22577, E(1)1439, UP5455353

Jalan Ipoh, Kiara East, Condominium, SALE, RM 606,000, 3r2b, BU911sqf, F.T Lim, 012-283 1018, KL Sentral, The Sentral Residences, KL Sentral, The Sentral Residences, E(3)0868, UP3527429 Condominium, SALE, RM 2,110,000, Condominium, RENT, RM 5,500, 2+1r3b, 2+1r2b, BU1625sqf, Lim Ting Xuan, BU1485sqf, Lim Ting Xuan, 016-209 5888, 016-209 5888, REN:06763, E(1)1439, REN:06763, E(1)1439, UP5556311 UP5556174

Jalan Klang Lama (Old Klang Road), Tria , Old Klang Road, Condominium, SALE, RM 759,722, 3r2b, BU1001sqf, Kody Fong, Mont Kiara, Kiaramas Danai, Jalan Desa Mont Kiara, Kiaramas Ayuria, 012-916 8010, E00000, Kiara, Condominium, SALE, RM 1,600,000, Condominium, RENT, RM 8,000, 4+1r5b, UP5568013 3+1r4b, BU2025sqf, Golden Vista Realty, BU3133sqf, Golden Vista Realty, 012-235 012-235 5256, E(3)0436, UP4590650 5256, E(3)0436, UP4840792

Subang Jaya, USJ One (You One), USJ 1, Mont Kiara, Kiaramas Sutera, City Centre, Setia SKY Residences, City KLCC, Isola, Serviced Residence, SALE, Service Apartment, SALE, RM 1,200,000, Condominium, SALE, RM 1,250,000, 3r3b, centre, Serviced Residence, SALE, RM RM 1,258,058, 1r1b, BU764sqf, Kody Fong, 5r5b, BU2721sqf, Evelyn Tan, 012-285 3118, BU1848sqf, Golden Vista Realty, 012-235 910,000, 2+1r3b, BU1055sqf, Angeline 012-916 8010, E00000, UP5572926 REN:01151, E(1)0452/2, UP5574783 5256, E(3)0436, UP5486950 Liew, 6013-227 3218, E(3)0812, UP3510839

City Centre, Setia SKY Residences, City City Centre, Setia SKY Residences, City centre, Serviced Residence, SALE, RM centre, Serviced Residence, SALE, RM 1,060,000, 2+2r3b, BU1313sqf, Angeline 1,450,000, 3+1r4b, BU1701sqf, Angeline Liew, 6013-227 3218, E(3)0812, UP3795202 Liew, 6013-227 3218, E(3)0812, UP5204501

KL Sentral, The Sentral Residences, Segambut, Scenaria @ North Kiara Hills, Taman Desa, Bungalow House, SALE, RM 7,188,000, 5+1r5b, BU7188sqf, LA7188sqf, Jac Quak, Condominium, RENT, RM 5,500, 2r2b, Condominium, SALE, RM 650,000, 2r2b, 6012-511 8101, E(1)1492, UP4626359 BU1399sqf, Lim Ting Xuan, 016-209 5888, BU1021sqf, Amy Chia, 012-289 7265, REN:06763, E(1)1439, UP5322088 REN:05534, E(3)1198, UP5199281

120 121 CLASSIFIEDS

Mont Kiara, 28 Mont Kiara, Condominium, SALE, RM 2,050,000, 3+1r5b, BU2535sqf, Vernice Lim, 017-339 8313, REN:21152, E(1)0452/8, UP5571103

KL City, Bistari Condominium, Off Jalan Putra, Condominium, RENT, RM 2,500, 2+1r2b, BU1048sqf, Xavier Sing, 010-7668 334, E00000, UP5588741

KL Sentral, The Sentral Residences, Mont Kiara, Arcoris Soho, Soho, RENT, RM Condominium, RENT, RM 12,000, 4+1r6b, Dutamas, Solaris Dutamas, Solaris Dutamas, Serviced Residence, SALE, RM 800,000, 1r1b, 2,500, BU496sqf, Natalie Ng, 017-272 6199, BU3068sqf, Darrel Tan, 017-291 0552, BU672sqf, Ben Foong, 012-332 0409, REN:23361, E(3)1082, UP5614324 REN:01122, E(3)0050/13, UP5628646 REN:06760, E(1)1203, UP5629607

Tropicana, Tropicana Golf Country Resort, Tropicana, PJ, Bungalow House, SALE, Bungalow House, SALE, RM 9,500,000, RM 6,000,000, 7+1r8b, BU7200sqf, 7+1r10b, BU9472sqf, LA11,857sqf, LA9700sqf, Isaac Cheng, 017-261 8622, Isaac Cheng, 017-261 8622, REN:12128, REN:12128, EPM(3)0002, UP4609751 EPM(3)0002, UP5321384

Damansara Heights, medan damansara, Mont Kiara, Solaris Dutamas, Office, RENT, 2-sty Terrace/Link House, SALE, RM Mont Kiara, Mont Kiara Damai Resort Condominium, Condominium, RENT, RM 9,000, 3+2r4b, RM 8,500, BU1800sqf, Felicia Goh, 6012- 1,990,000, 4+1r4b, BU2500sqf, LA1920sqf, BU2600sqf, Ben Foong, 012-332 0409, REN:23361, E(3)1082, UP5595090 765 8308, PEA:1103, E(1)1552, UP4944554 Joseph Kong, 012-778 3121, REN:1503, E (3) 0705, UP4693298

Bangi, Bungalow House, SALE, RM 10,000,000, KLCC, Banyan Tree, Klcc, 7+1r9b, BU16500sqf, Condominium, RENT, RM LA32453sqf, Ismadi 15,000, 3+1r3b, BU2195sqf, Ab Jalil, 6017-879 9185, Angel Lin, 019-301 6967, REN:08635, E(3)0205, REN:17378, E(1)1321, UP5596418 UP5553321

Rawang, Factory, SALE, RM 2,465,000, Klang, Factory, SALE, RM 14,000,000, BU6525sqf, LA70’ x 170’sqf, Leane Wong, BU60000sqf, LA100188sqf, Elaine Lee, 017-280 9663, REN:23378, E00000, 6012-549 1341, REN:04629, E(1)1215, UP5589030 UP4117933

Bandar Sunway, A’Marine Condominium, Ampang, Semi-detached House, RENT, Rawang, Factory, RENT, RM 87,000, BU90000sqf, LA87120sqf, Elaine Lee, 6012-549 1341, Sunway, Condominium, SALE, RM RM 7,000, 5+1r6b, BU4820sqf, LA22× REN:04629, E(1)1215, UP3430199 1,050,000, 3+1r3b, BU1533sqf, John Oh, 70sqf, Nur Allyia Binti Abdullah Yap, 016- 016-971 5819, REN:07002, E(1)1537/1, 224 2000, E(3)1493, UP5285817 UP5625345

120 121 City Centre, Setia SKY Residences, City City Centre, Setia SKY Residences, City centre, Serviced Residence, SALE, RM centre, Serviced Residence, SALE, RM 1,288,000, 3+1r4b, BU1701sqf, Angeline 1,100,000, 2+2r4b, BU1313sqf, Angeline Liew, 6013-227 3218, E(3)0812, UP4536081 Liew, 6013-227 3218, E(3)0812, UP4551038

Kepong, Legend Height, Condominium, Selayang, LakePark Residence @ KL Kota Kemuning, Semi-detached House, SALE, RM 1,650,000, 4+1r5b, BU3000sqf, LA3863sqf, K L SALE, RM 504,500, 3+1r2b, BU1050sqf, North, Service Apartment, SALE, RM Chow, 019-330 9922, E(3)1191, UP5216262 LA2.907sqf, May Soon, 012-666 0980, 532,875, 3r2b, BU1125sqf, LA5.19sqf, May E(1)1661, UP5372890 Soon, 012-666 0980, E(1)1661, UP5375341

Ampang Hilir, U-Thant, Bungalow House, SALE, RM 50,000,000, 8+1r10b, BU22000sqf, Country Heights Damansara, Kulau lumpur, Bungalow House, SALE, RM 6,000,000, 5+1r7b, LA30000sqf, Carl Friis, 012-286 5586, REN:01695, E(1)1007, UP5221677 BU10000sqf, LA5800sqf, Elaine Lee, 6012-549 1341, REN:04629, E(1)1215, UP5329947

Subang Jaya, SS14, Semi-detached House, SALE, RM 1,300,000, 3r2b, BU2200sqf, LA3690sqf, Calvin Low, 6012-682 0628, REN:14230, E(1)1552, UP3319849

Kota Kemuning, 2-sty Terrace/Link House, SALE, RM 650,000, 4r3b, BU2000sqf, LA1400sqf, K L Chow, 019-330 9922, E(3)1191, UP5318381

Bukit Jalil, Pavillion 2, Bukit Jalil City, 3sty Commercial Shop Office, Shop-Office, SALE, RM 4,900,000, Mei, 012-314 1881, REN:10582, E(3)0050/15, UP5017923 Tropicana, Tropicana pool Villa, Semi-detached House, SALE, RM 5,800,000, 10r8b, LA7000sqf, Grace Chooi, 6010-900 3980, REN:03565, E(3)0684, UP5559883

Johor Bahru, Prima Regency Service Apartment, Jalan Masai PROPERTY OUTSIDE Baru, Apartment, RENT, RM 1,400, 3r2b, BU1050sqf, KLANG VALLEY susanlee, 6012-713 9998, Kuala Lipis, Agriculture Land, Penjom, REN:13378, E(3)1451, Lipis, Pahang, Agricultural Land, SALE, RM UP5255730 3,000,000, LA24sqa, Vernice Lim, 017-339 8313, REN:21152, E(1)0452/8, UP5299845

122 123 CLASSIFIEDS

Johor Bahru, Prima Regency Service Apartment, Jalan Masai Baru, Apartment, RENT, RM 1,500, 3r2b, BU1050sqf, susanlee, 6012-713 9998, Johor Bahru, Tropez Residences, Danga REN:13378, E(3)1451, Johor Bahru, Greenfield Regency, Bay, Condominium, SALE, RM 318,000, UP4223067 Condominium, RENT, RM 1,300, 2r3b, 1r1b, BU463sqf, Nikko Tay, 013-202 2600, BU947sqf, susanlee, 6012-713 9998, REN:19488, E(1)1598, UP5215601 REN:13378, E(3)1451, UP5271235

Tanjong Tokong, Jazz Bayan Lepas, BayStar Residences, Tanjong Condominium, Queensbay, Tokong, Serviced Condominium, SALE, Residence, SALE, RM RM 1,308,888, 4+1r3b, 960,000, 2r3b, BU1365sqf, BU2248sqf, Flame Lee, Alan Tan, 016-411 6876, 010-226 6764, REN:03274, E(1)0153/1, UP5491691 E(3)1646, UP5556080

Medini, Meridin Suites Residences, Condominium, RENT, RM 1,400, 1r1b, BU521sqf, Wind Too, 018-761 8250, REN:02294, Iskandar Puteri (Nusajaya), taman Batu Ferringhi, 10 Island Resort, E(1)1501/5, UP5601069 nusa bestari, Hotel/Resort, SALE, RM Condominium, SALE, RM 1,550,000, 4r4b, 11,800,000, LA6600sqf, Chen We BU2500sqf, John, 012-434 8180/016-454 Kwong, 6016-771 2266 / 6012-735 2266, 6722, E(3)0381, UP5597367 REN:08108, E(3)0737, UP3260511

Iskandar Puteri (Nusajaya), , Cluster Homes, SALE, RM 1,420,000, 4+1r5b, BU2500sqf, LA32x75sqf, Johor Bahru, taman kota masai 2, Shop, Johor Bahru, Horizon hills, Cluster Homes, Ang Liang, 016-297 9991, SALE, RM 640,000, 4b, LA1540sqf, Chen RENT, RM 2,500, 4+1r5b, LA36x75sqf, E(1)1307/4, UP5356302 We Kwong, 6016-771 2266 / 6012-735 Ang Liang, 016-297 9991, E(1)1307/4, 2266, REN:08108, E(3)0737, UP2860870 UP4933179

Kuching, Crookshank Road, Residential Land, SALE, RM 1,250,000, LA788.50, Lai Tze Khan, 016-588 6188, PEA:1626, E(1)0507/7, UP5463910 Medini, Meridin Suites Residences, Medini, Meridin Suites Residences, Condominium, RENT, RM 1,200, 1r1b, Condominium, RENT, RM 1,800, 1r1b, BU521sqf, Wind Too, 018-761 8250, BU760sqf, Wind Too, 018-761 8250, REN:02294, E(1)1501/5, UP5601084 REN:02294, E(1)1501/5, UP5612733

Johor Bahru, Taman Johor Bungalow Ipoh, jalan bandarhara, Semi-detached House, Bungalow House, SALE, RM House, SALE, RM 638,000, 5r5b, 1,280,000, 8r6b, LA8300sqf, Tomato Loh, BU3080sqf, LA35x88’sqf, Jason Tan, 011- 019-750 5088, REN:00425, E(3)0928, 2407 0328, E(1)1307/7, UP5506378 UP5594339

Johor Bahru, Greenfield Regency, Condominium, RENT, RM 1,200, Studior1b, BU484sqf, susanlee, 6012-713 9998, REN:13378, Iskandar Puteri (Nusajaya), Setia Eco Garden, Eco Village, 2-sty Terrace/Link House, SALE, E(3)1451, UP5501682 RM 540,000, 4r3b, BU1771sqf, LA1400sqf, Annie Lee, 6019-790 9113, REN:09733, E(3)1550, UP5009138

Senawang, S/S semi-D Iskandar Puteri (Nusajaya), Taman Tuanku Jaafar, SILC Industrial Park, Semi-detached House, Industrial Land, SALE, SALE, RM 410,000, 4r2b, RM 4,270,000, LA1.18sqa, BU1450sqf, LA2805sqf, Wind Too, 018-761 8250, Rena Rahman, 018-327 REN:02294, E(1)1501/5, 8005, VE(1)0241/1, UP5530090 UP5613579

122 123 Bukit Mertajam, Desa Alma Ria, Apartment, SALE, RM 270,000, 3r2b, BU1000sqf, Ronald Ng, Johor Bahru, Paragon Suites @ CIQ, Service Apartment, RENT, RM 1,900, 1r1b, BU678sqf, 6016-475 7775, REN:01999, E(3)0969, UP5591667 Charleen Koh, 010-668 8932, REN:23029, E(1)1197/6, UP5456571

Seremban, Spacious Semi D at HILLTOP, Semi-detached House, SALE, RM 928,000, 7+1r6b, BU4322sqf, Tifi Ten, Kota Kinabalu, Cyber Perdana Commercial 012-625 8253, E(1)1321/14, Iskandar Puteri (Nusajaya), Cluster Homes, Centre, Kepayan, Shop-Office, SALE, RM UP5618554 SALE, RM 1,045,000, 4+1r5b, BU2670sqf, 1,300,000, 2b, BU2203sqf, LA2203sqf, LA35x70sqf, Julie Yew, 010-666 0112, Abby Tan, 017-261 6216, REN:20757, E(1)1307/4, UP5623526 E(3)0637, UP5521809

Johor Bahru, Taman Senawang, Bungalow Johor, Bungalow House, House, SALE, RM SALE, RM 1,180,000, 675,000, 6r4b, BU3160sqf, 7r5b, BU7000sqf, LA50x80sqf, Sean Wong, LA6000sqf, Tomato Loh, 016-203 5698, E(1)1670, 019-750 5088, REN:00425, UP5513205 E(3)0928, UP4623737

Kota Tinggi, taman saujana, Shop, RENT, Medini, Citrine Hub, Sunway Iskandar, RM 2,600, 4b, LA22-75sqf, Chen We Office, SALE, RM 594,400, Studior, Kwong, 6016-771 2266 / 6012-735 2266, BU743sqf, Wind Too, 018-761 8250, REN:08108, E(3)0737, UP4617068 REN:02294, E(1)1501/5, UP4837600

Kota Kinabalu, Cyber Perdana Commercial Centre, Kepayan, Shop- Office, RENT, RM 3,300, 2b, BU2203sqf, Abby Tan, 017-261 6216, REN:20757, E(3)0637, UP5444418 Pontian, , Commercial Land, SALE, RM 1,165,000, BU46609sqf, LA46609sqf, Tomato Loh, 019-750 5088, REN:00425, E(3)0928, UP5072359

Cameron Highlands, Mont’ Vue Apartment, Apartment, SALE, RM 384,000, 3r2b, BU843sqf, Seberang Perai, Meritus Residensi, Serviced Residence, SALE, RM 364,500, 3r2b, BU959sqf, Elise Elaine Lee, 6012-549 1341, REN:04629, E(1)1215, UP4595274 Tan, 017-489 9705, E(3)0256/3, UP5085886

124 125 CLASSIFIEDS

Skudai, Seri Orkid, 2-sty Terrace/Link House, SALE, RM 490,000, 4r3b, BU1605sqf, LA1430sqf, Wind Too, 018-761 8250, Medini, Citrine Hub, Sunway Iskandar, REN:02294, E(1)1501/5, , Permas 15 2s house, 2-sty Office, RENT, RM 1,600, 1b, BU775sqf, UP5373773 Terrace/Link House, SALE, RM 540,000, Wind Too, 018-761 8250, REN:02294, 3+1r3b, LA20x70sqf, Zen Koay, 016-776 E(1)1501/5, UP5345027 1856/010-766 6543, E(3)1571, UP5616171

Johor Bahru, , Skudai, Mutiara Mas , 1-sty Terrace/Link House, Shop-Office, SALE, RM SALE, RM 885,000, 3+1r2b, 2,300,000, BU1540sqf, LA4321sqf, Wind Too, LA22 X 75sqf, Tomato Loh, 018-761 8250, REN:02294, 019-750 5088, REN:00425, E(1)1501/5, UP5495377 E(3)0928, UP3150351

Melaka city, Melaka, Hotel/Resort, SALE, RM 382,730, BU376sqf, Jason Tan, 011-2407 0328, , Residential Land, SALE, RM 1,380,000, Henry Butcher Malaysia () Sdn. Bhd., E(1)1307/7, UP5623417 6012-229 2356 / 6012-333 4213, REA:E1463, VE(1)0079/5, UP4882944

Johor Bahru, Taman Bukit Indah, 2-sty Terrace/Link House, SALE, RM 638,000, 4r3b, LA30x70sqf, Tomato Loh, 019-750 5088, REN:00425, E(3)0928, UP5393652

Tanjong Tokong, Denai Pinang ENO Straits Quay, 2.5-sty Terrace/Link House, SALE, RM 2,750,000, 5r5b, BU4000sqf, LA4000sqf, Flame Lee, 010-226 6764, Muar, MUAR, Residential Land, SALE, RM 500,000, LA9200sqf, Henry Butcher Malaysia (Muar) REN:03274, E(3)1646, Sdn. Bhd., 6012-229 2356 / 6012-333 4213, REA:E1463, VE(1)0079/5, UP5019147 UP5222713

Muar, Residential Land, SALE, RM 3,300,000, LA60000sqf, Henry Butcher Malaysia (Muar) Sdn. Batu Pahat, Residential Land, SALE, RM 10,000,000, LA55sqa, Henry Butcher Malaysia (Muar) Bhd., 6012-229 2356 / 6012-333 4213, REA:E1463, VE(1)0079/5, UP5098746 Sdn. Bhd., 6012-229 2356 / 6012-333 4213, REA:E1463, VE(1)0079/5, UP5040362

124 125 , 2-sty Terrace/ Link House, SALE, RM 445,000, 4r3b, BU1540sqf, Levenny Lee, 019-886 4134, REN:15874, E(1)1584, UP5622792

Johor Bahru, Mount Austin Boulevard, 2-sty Terrace/ Link House, SALE, RM 550,000, 4r3b, BU1517sqf, LA1170sqf, Winnie Eng, 011-282 82209, E00000, Melaka Tengah, Residential Land, SALE, RM 500,000, LA8328sqf, Henry Butcher Malaysia (Muar) UP5580017 Sdn. Bhd., 6012-229 2356 / 6012-333 4213, REA:E1463, VE(1)0079/5, UP2990485

Cameron Highlands, shop lot, Retail Space, RENT, RM 3,800, BU833sqf, Elaine Lee, 6012-549 Balik Pulau, Palmyra Residence, 2-sty Terrace/Link House, SALE, RM 680,000, 3+1r3b, 1341, REN:04629, E(1)1215, UP5138117 BU1600sqf, LA1230sqf, Michael Kh’ng, 012-492 8552, REN:02101, E(1)0232, UP5625542

Shah Alam, Seksyen U9, 2-sty Terrace/Link House, SALE, RM 950,000, 5r3b, SHAH ALAM LA3000sqf, Rosie Ang, 012-321 3607, REN:04805, E(1)1589, UP5325265 Ulu Tiram, 1-sty Terrace/Link House, SALE, RM 493,000, 3r2b, BU1540sqf, LA4500sqf, PL Lee, 019-886 4134, REN:15874, E(1)1584, UP5562727

Shah Alam, Cahaya SPK LAKEVIEW, Bungalow House, SALE, RM 3,500,000, 6r6b, BU5550sqf, Denai Alam, Seksyen U16, Jalan Elektron U16/76A, Semi-detached House, SALE, RM 2,080,000, LA11500sqf, Azik Khalid, 018-399 3422, REN:23095, E(3)0205, UP4507403 6r6b, BU4000sqf, LA4093sqf, Wennie Liew, 012-233 3013, REN:16099, E(1)1584, UP5543551

Puchong, Koi Kinrara Suites, Bandar Puchong Jaya, Condominium, RENT, PUCHONG RM 1,850, 3r2b, BU1078sqf, Garry Chan, 016-988 8280, Alam Impian, Alam Impian Pentas 2 cnr, REN:22577, E(1)1439, 2-sty Terrace/Link House, SALE, RM UP5455958 1,550,000, 5+1r6b, BU4147sqf, LA57x85sqf, Brandon Lim, 017-235 3003, PEA:1159, E(1)1215/1, UP3235279

126 127 CLASSIFIEDS

Puchong, Taman Puchong Bandar Kinrara, Semi- Prima, 2-sty Terrace/Link detached House, SALE, House, SALE, RM 570,000, RM 1,600,000, 4+1r5b, 4r3b, BU1700sqf, Jimmy BU3138sqf, LA40x80sqf, Chan, 016 220 2983/ CJ Lee, 012-269 9214, 016-336 5066, REN:08241, PEA:1060, E(1)1321, E(1)0990/1, UP5598231 UP5556979

Cheras, Bukit Tiara, Cheras, Bungalow House, SALE, RM 5,500,000, 8r8b, CHERAS BU9980sqf, Vernice Lim, 017-339 8313, REN:21152, Cheras, The iResidence, Bandar Mahkota E(1)0452/8, UP5259190 Cheras, Condominium, RENT, RM 1,800, 3r2b, BU1227sqf, Jessie Lim, 014-643 3211, VE(3)0287, UP5545327

Cheras, Bandar Tun Hussein Onn, Bungalow House, SALE, RM 1,850,000, 5r4b, BU4000sqf, LA7600sqf, Jimmy Chan, 016 220 2983/ 016-336 5066, REN:08241, E(1)0990/1, UP5598378

PETALING JAYA Cheras, Pandan Perdana, Pandan mewah, Cheras, Green Residence, Taman Rasa Sayang, Condominium, SALE, RM 720,000, 3+1r5b, cheras, ampang, shamelin, Shop, SALE, BU1438sqf, Ocean Lee, 017-846 6992, REN:13847, E(1)1344, UP5620748 RM 24,000,000, 20b, BU72000sqf, LA14400sqf, Jitco Chin, 012-361 3999, E(3)0256, UP5620283

Sri Petaling, Endah Promenade, Serviced Residence, SALE, RM 530,000, 3r2b, BU980sqf, Mr. Woon, 016-2036330, REN:16066, E(1)1411, UP5628180

Taman Tun Dr Ismail, Jalan Aminuddin Baki, Bungalow House, SALE, RM 4,950,000, 7r7b, BU6032sqf, LA7319sqf, Rais Yeop Johari, 012- Petaling Jaya, 2-sty Terrace/Link House, SALE, RM 1,720,000, 3+1r3b, BU1980sqf, LA22x90sqf, 269 9053, REN:14474, Sean Cheah, 016-360 2086, REN:04550, E(1)1344/3, UP5555564 VE(1)0187/2, UP5571370

BANGSAR Taman Tun Dr Ismail, Taman Tun Dr Ismail TTDI, Semi-detached House, SALE, RM 3,300,000, BU4200sqf, LA3300sqf, Azik Khalid, 018-399 3422, REN:23095, E(3)0205, UP4922383

Bangsar, Serai, Condominium, SALE, RM 7,043,750, 3+2r4b, BU4025sqf, Janelle Tan, 012-329 3143, E(3)1046, UP5228311 Bangsar South, Menara Suezcap KL Gateway Office, Jalan Kerinchi Kiri,, Bangsar South, Office, SALE, RM 1,509,600, 1b, BU1700sqf, Wennie Liew, 012-233 3013, REN:16099, E(1)1584, UP5441226

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