EP J2 FRIDAY OCTOBER 19, 2018 • THEEDGE FINANCIAL DAILY

ENDORSED BY AWARDS OBJECTIVE Promote sustainable real estate in Malaysia through recognition of: • Malaysia's best property management practices • Property in Malaysia designed and built for sustainability

MINISTRY OF HOUSING AND LOCAL GOVERNMENT NOW OPEN FOR ENTRIES ( NO FEES REQUIRED) • All Residential, Office, Mixed Development, Specialised and Retail properties managed in-house/by property building managers • Strata and Non-strata buildings

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EP 2 FRIDAY OCTOBER 19, 2018 • THEEDGE FINANCIAL DAILY

NEWS HIGHLIGHTS from www.EdgeProp.my

Branded residences in KL record 69% The government may revive the Johor ‘crooked bridge’ project which was mooted by Prime Min- may price premium ister Tun Dr Mahathir Mohamad before his fi rst Branded residences in Kuala retirement as the country’s premier in 2003. revive Johor ‘crooked Lumpur recorded a premium of Speaking to reporters at the Parliament lobby 69% against non-branded luxury on Oct 16, Johor Menteri Besar Datuk Osman bridge’ project residences last year. This was the Sapian said Dr Mahathir had in a meeting with the second-highest price premium seen state government last month, indicated there is among Asian cities, according to “no problem” in building the crooked bridge, and Knight Frank’s Branded Residences the third bridge linking Johor and Singapore. Report: 2019. “This is what Tun wants, crooked bridge will The highest premium seen in only reach half of the Causeway Link; we won’t 2017 was in Bangkok, at 132% above touch the Singapore part,” said Osman. non-branded luxury residences, In response, Economic Affairs Minister Datuk followed by at 69%, Seri Mohamed Azmin Ali said Malaysia needs to pri- Manila at 36% and Phuket at 8%. oritise its infrastructure projects, due to the country’s Branded residences are attract- fi scal situation. ing signifi cant premiums in Asian “Once we receive the proposal (from the state The Edge Property Sdn Bhd (1091814-P) cities driven primarily by location government), the ministry will look into this mat- Level 3, Menara KLK, and can vary within the same city, ter and see whether we have the capacity at this No 1 Jalan PJU 7/6, Mutiara stated the real estate consultancy point of time to continue with the project, or may- Damansara, 47810 Petaling Jaya, Selangor, Malaysia in a press release on Oct 16. be we can consider when the situation is much bet- Knight Frank Malaysia head ter for us,” Mohamed Azmin said, adding that the EdgeProp.my of residential sales and leasing / priority now are projects like hospitals, schools

project marketing Kelvin Yip said and roads that will directly benefi t the people. GERBANG PERDANA Managing Director/Editor-in-chief Au Foong Yee branded residences are becoming popular in Kuala Lumpur as tro- EDITORIAL phy assets that off er a high level of deliberation at the next cabinet in the construction cost. volves a thor- Executive Editor Sharon Kam Editor Lam Jian Wyn service, facilities and quality. They meeting. However, MMC-Gamuda said it ough study of Deputy Chief Copy Editor continue to attract affl uent end-us- “On this matter, bear in mind it was not being given a fair chance to the quota sale of James Chong ers and investors, he added. was a cabinet decision. So, if there work out the cost reduction as the bumiputera lots Copy Editor Vanessa Gnanasurian Senior Writers Yip revealed that there were are changes, they have to be decid- fi nance ministry did not reveal the with the intention Rachel Chew, Tan Ai Leng some 1,691 units of branded res- ed by the cabinet,” Guan Eng added. target it wanted to achieve. of addressing Writers idences completed between 2014 On Oct 7, he had announced It had also warned that it would the housing and Natalie Khoo, Shawn Ng Art Director Sharon Khoh and the fi rst half of 2018. that the federal government will be result in immediate job losses of property surplus Design Team re-tendering all the unfi nished un- over 20,000 personnel. of bumiputera quota units. Jun Kit, Rajita Sivan Cabinet to derground work of the MRT2 project She said there is a high number through an international open tender of unsold bumiputera lots in each For New Launches/Events/ deliberate on MRT2 Zuraida: We will Press Releases/News Tips process. He had also announced the review bumiputera state and the problem requires a email: [email protected] underground deal termination of the swift solution. Tel: (03) 7721 8211 Fax: (03) 7721 8280 Finance Minister Lim Guan Eng underground work quota, not abolish it “This is not a new thing, the ADVERTISING & MARKETING said on Oct 17 that he will bring contract after the The government is reviewing the issue of overhang units (built but Associate Account Director, up the matter of the termination government and bumiputera housing quota sys- unsold units), is being given seri- Advertising & Marketing Heidee Ahmad (019) 388 1880 of MMC-Gamuda KVMRT (T) Sdn MMC-Gamuda tem, not abolish it, said Housing ous attention by several state gov- Senior Account Manager Bhd’s contract to build the under- failed to reach an and Local Government minister ernments which view this matter Ian Leong (012) 359 1668 ground portion of the mass rapid agreement relat- Zuraida Kamaruddin. as a worrying trend,” she said in a Account Managers Joane Tan (012) 377 2885 transit Line 2 (MRT2) for further ing to a reduction She added that the review in- statement on Oct 13. Evelyn Chan (012) 383 7484

Marketing Support & Ad Trafˎ c Madeline Tan (03) 7721 8218 trending How do I get past issues of this weekly pullout? email: [email protected] now Go to www.EdgeProp.my to download for free BUSINESS DEVELOPMENT Manager Nimalen Parimalam Account Manager Stannly Tan If you have any real estate-related events, email us at [email protected]. PRODUCT DEVELOPMENT LAUNCHES + EVENTS Events listed here will also appear on www.EdgeProp.my. & CUSTOMER ADVISORY Senior Manager Elizabeth Lay Associate Omar Nawawi sales launch of Grand Ion Venue: The ERA Sales Gallery, For enquiries and listings Majestic at Genting Highlands No.238, Jalan Segambut, email: [email protected] this Saturday. Guests at the event Segambut, Kuala Lumpur Tel: (03) 7721 8174 / 8173 will also get to enjoy a Feng Shui Contact: (1700) 818 081 EdgeProp.my pullout is published talk, beatbox performance, lucky Enjoy this Sunday with your by The Edge Property Sdn Bhd. It is draws and other fun activities. kids over a great bowl of Oishi available with The Edge Financial Ramen by Sakae Sushi with JKG Daily every Friday. The pullout is also distributed at more than Opening of Setia Alamsari Penang Street Food Fest Eco World Development Land Bhd. There will also be lots 200 ofˎ ces, shopping complexes, Sales Galleria at Tropicana Heights Group Bhd is hosting Ukulele of kids activities at the event. condos, medical centres and F&B outlets in the Valley. You can Date: Oct 20 (Sat) Date: Oct 20 & 21 (Sat & Sun) classes every Saturday at Eco also download it for free at Time: 10am to 5pm Time: 11am to 5pm Ardence in Setia Alam. Sign Food Fiesta at www.EdgeProp.my Venue: Setia Alamsari Sales Venue: Tropicana Heights your children up for a fee of Bandar Bukit Raja Galleria, No. 1, Persiaran Property Gallery, No. 35, RM15 to seize this opportunity Date: Oct 20 (Sat) Alam Sari 3, Kajang Jalan P4/6, Bandar Teknologi to learn an instrument. Time: 10am to 5pm Th e Edge Malaysia Contact: (03) 8736 2255 Kajang, Venue: Bandar Bukit Raja Sales The new sales gallery of Contact: (1700) 81 9566 Free Zumba class Gallery, No. 1E, Jalan Gamelan, Publisher and Group CEO Ho Kay Tat S P Setia’s Setia Alamsari Tropicana Corporation Bhd is at Sunway Serene Bandar Bukit Raja, Klang development is set to open organising a mouthwatering Date: Oct 20 (Sat) Contact: (03) 3361 7288 EDITORIAL its doors this weekend with Penang Street Food Fest Time: 7.30am to 8.30am Enjoy various authentic local Editor-in-chief Azam Aris CORPORATE exciting activities and events, this weekend at Tropicana Venue: Sunway Serene Sales food favourites like vurry laksa, Chief Operating Ofˎ cer such as an acrobatic lion Heights. Savour delights such Gallery, Lot No. 72241, Jalan nasi lemak, roti bakar, char Lim Shiew Yuin dance, dessert-making as assam laksa, lobak, rojak, SS8/2, Kelana Jaya, Petaling Jaya kuey teow, teh tarik, cendol ADVERTISING & MARKETING Chief Commercial Ofˎ cer workshops and game booths. cendol and ice-kacang. Contact: (017) 964 0788 and many more while enjoying Sharon Teh (012) 313 9056 Join Sunway Property in an exclusive sneak peek of the General Manager Launch of Grand Ukulele classes Sunway Serene for a free upcoming AYRA 2 and AZIRA Kingston Low (012) 278 5540 Ion Majestic at Eco Ardence Zumba class by Tip Tap Toe landed homes in the township. Senior Sales Managers Fong Lai Kuan (012) 386 2831 Date: Oct 20 (Sat) Date: Oct 20 (Sat) Fitness Studio this Saturday. Gregory Thu (012) 376 0614 Time: 11am to 10pm Time: 10.30am to 11.30am Creative Marketing Venue: GLAMZ At Genting, No. 1, Venue: Eco Ardence Sales Oishi Ramen Sunday Chris Wong (016) 687 6577 at The ERA Head of Marketing Support Jalan Meranti, Genting Highlands Gallery, PT 8, Persiaran Setia & Ad Trafˎ c Contact: (019) 939 7686 Alam, Eco Ardence, Date: Oct 21 (Sun) Lorraine Chan (03) 7721 8001 NCT Group is having the offi cial Contact: (03) 3342 5522 Time: 11am to 5pm

EP 4 FRIDAY OCTOBER 19, 2018 • THEEDGE FINANCIAL DAILY NEWS

S P Setia conˎ dent of demand in Melbourne property market

PICTURES BY S P SETIA BY TAN AI LENG

MELBOURNE: S P Setia Bhd is optimistic about the property demand in Melbourne, Australia, as the population one of the world’s most liveable cities continues to rise and is expected to surpass that of New South Wales’ capital city, Sydney, in the next decade, said the company president and CEO Datuk Khor Chap Jen. Th e resilient demand was also refl ected in the sales of S P Setia’s latest off ering – Sapphire By Th e Gardens luxury integrat- ed development, which has seen 95% of its From left: Multiplex regional managing director Graham Cottam, S P Setia deputy president residential units taken up since its launch and COO Datuk Wong Tuck Wai, Khor, The High Commissioner of Malaysia Datuk Sudha in June last year. Devi, Capp, Wan Mohd Zahid, Lim and Choong at the groundbreaking ceremony. “Th ere is a mix of buyers from Malaysia, Singapore, Indonesia and Australia as well Th e built-ups of the apartments range Wan Mohd Zahid Mohd Noordin said S P as other countries. Th e integrated develop- from 50 sq m (549 sq ft) to 660 sq m (7,104.2 Setia has begun making its presence felt in An artist’s impression of Sapphire ment concept and the strategic location in sq ft) with the largest units being the pent- Melbourne in late 2010, with the company by the Gardens. Melbourne city are the main attractions for houses, while prices start from A$550,000 commencing six projects with cumulative the purchasers,” he told the media after the (RM1.77 million). GDVs of A$2.3 billion within the past 10 years. lation — migrants and students — as well ground breaking ceremony of Sapphire By One of its penthouses, which comes with To date, the developer has three complet- as its unique lifestyle,” he added. Th e Gardens at its construction site at Ex- 10 car parking spaces, carries a price tag of ed projects – Fulton Lane, Parque Melbourne Shangri-La Asia Ltd CEO Lim Beng Chee hibition Street on Monday. A$29 million (RM85.9 million) — making and Maison Carnegie — with a combined concurred that Melbourne has more to off er, Th is is also S P Setia’s fi fth and biggest it the most expensive apartment on the GDV of A$732 million. which is why the company chose to work to- project at Melbourne’s Central Business Melbourne property market. He said that there are another three pro- gether with S P Setia to bring in its fi ve-star District. Th e development carries a GDV of Choong noted that the most expensive jects underway, namely Sapphire By Th e Shangri-La Hotel to Melbourne. A$960 million (approximately RM2.8 billion). penthouse has yet to fi nd a buyer but the Gardens, the Marque Residences at Prahran “It has been 15 years since Shangri-La fi rst Sprawled across a 4,140-sq m (1.02-acre) company has received enquiries from a few and UNO Melbourne, worth A$1.6 billion. entered Australia with a hotel in Sydney. We plot in the heart of Melbourne city centre, interested parties. With close to a decade of expansion in the believe it is well worth the wait given the ho- the “twin tower” development, which is de- Meanwhile, Shangri-La Hotel will have Melbourne market, Khor said S P Setia has tel’s unique location in Melbourne,” he said. signed by Cox Architects and Fender Katsa- three levels of amenities including a sky gained a strong foothold in the city’s property Meanwhile, Lord Mayor of Melbourne lidis, comprises two towers of 60 and 62 lobby, restaurants, spa, fi tness centre, swim- market and with Shangri-La’s participation Sally Capp said Melbourne has attracted fl oors with a sky bridge linking both towers ming pool and a state-of-the-art ballroom as the hotel operator for the development, 13 million visitors in 2017. She added that that house the 500-room Shangri-La Hotel overlooking the Unesco World Heritage Carl- Sapphire By Th e Gardens will become a new there is also increasing demand for luxury in Melbourne, 345 luxury apartments as well ton Gardens and Royal Exhibition Building. iconic development in Melbourne. hotels in Melbourne, hence, the presence of as offi ce and retail spaces. Th e entire development is scheduled to “We are also constantly exploring oppor- Shangri-La Hotel will defi nitely meet tourists’ S P Setia’s Australia operations CEO Datuk be completed in end-2021 and the fi ve-star tunities in other cities in Australia, such as requirements and create more employment Choong Kai Wai said there are only limited Shangri-La Hotel is expected to start oper- Sydney and Adelaide, but Melbourne still opportunities within the city. units left in Sapphire By Th e Gardens, mostly ation in 2022. has more growth potential for its vibrant penthouses with higher selling prices. In his speech, S P Setia chairman Tan Sri business activities, [and] increasing popu- This story first appeared on www.EdgeProp.my

‘Avoid new taxes and maintain RPGT rate in Budget 2019’

SUHAIMI YUSUF | THE EDGE LOW YEN YEING | EdgeProp.my BY SHAWN NG not solve the issue of mismatch in erty market, Foo called for greater housing supply and demand. fl exibility in mortgage repayments PETALING JAYA: Th e government “Mismatch happens when there or in the downpayment structure, should not implement new taxes is no proper research done on the especially for fi rst-time homebuyers. on the real estate industry, espe- location where the aff ordable hous- “And since the foreign owner- cially counter-productive ones such ing is being built. This is a criti- ship control has been in place, the as a vacancy tax, said the immediate cal problem because we just build MM2H (Malaysia My Second Home past president of the Association of wherever we think we should have scheme) could be promoted further Valuers, Property Managers, Estate such housing,” he told EdgeProp.my. to increase foreign purchases of Agents and Property Consultants in “If you build at a place which is high-end luxury units which are out the Private Sector Malaysia (PEPS) ‘undesirable’, who is going to buy? of the reach of locals, particularly Foo Gee Jen. Th at has contributed to the problem the stratifi ed properties,” he noted. Foo hoped that in the upcoming that we are facing now. If you do a He also urged the government Budget 2019 which will be tabled proper survey on the demand for to give due consideration to the on Nov 2, the government will not Foo: Avoid erratic changes that Kong: If you build at a place aff ordable housing within specifi c Mass Rapid Transit 3 (MRT3) pro- introduce taxes that discourage would trigger shock or create which is ‘undesirable’, who is locations, then we won’t have such ject as the circle line will integrate investments and that the current uncertainty in the market. going to buy? a problem,” he added. all existing rail transit systems in rates for Real Property Gains Tax Hence, for Budget 2019, Kong the . (RPGT) will be maintained. Malaysia. Th is is primarily instilled ing and issues of aff ordability in urged Putrajaya to focus on the “Malaysians would not want to Foo, who is also CBRE|WTW through consistency in policy di- the housing sector. However, he establishment of a central agency see the whole MRT initiative end managing director, added that the rection. said the government should view and database for relevant data and up as a white elephant. If cost is a government should also avoid im- “So avoid erratic changes that the housing aff ordability issue in information. concern, the government could plementing “extreme measures and would trigger shock or create un- a more holistic way. “And the information and da- consider a public-private partner- excessive interference” that may certainty, or confusion in the mar- “Any housing policy must be tabase have to be shared,” he said. ship,” he said. restrict the growth of the market. ket,” he told EdgeProp.my. holistic and looked at it in its en- To minimise the distortion in Foo also called for more incen- “Given the recent change in gov- Meanwhile, PEPS president tirety,” he stressed. supply and demand, Foo suggested tives to promote the adoption of ernment, the market and foreign in- Michael Kong said the government He believes that there has been a set timeframe to release unsold the industrialised building system vestors especially would be seeking has been and is expected to con- too much focus on the provision of bumiputera-quota residential units. (IBS) to lower housing construction assurance for their confi dence in tinue its focus on aff ordable hous- aff ordable housing but this does To spur the current slow prop- cost and thereafter house prices. A SPECIAL FOCUS BY

Seri OCTOBER 19, 2018 Kembangan A budding location for lifestyle homes

BY TAN AI LENG Located about 20km away from Hartamas Real Estate Sdn Bhd Th is area is KLCC and Putrajaya, real estate negotiator Vivian Tan ob- he definition of a good is one such place that is becoming a serves that enquiries and interest from becoming location no longer refers popular option for homebuyers. consumers for lifestyle homes in Seri to city centre-proxim- Kembangan have been rising in re- ity in property buying. Accessible and affordable cent years. increasingly More people today do Situated south of Kuala Lumpur, Seri “Most of them are upgraders who not mind living in places Kembangan is deemed to be a pop- are looking for landed homes. Th eir re- popular with Tconsidered “far” away from the eco- ular location for homebuyers for its quirements include lifestyle elements nomic capital, choosing instead to relatively aff ordable houses which are like swimming pool and clubhouse commute daily from well-connected within easy reach to major commer- with facilities, spacious units, land- homebuyers. suburbs that offer them a balanced cial hubs in the Klang Valley, such as scaped greenery and most importantly, lifestyle. KLCC, Cyberjaya, and Pu- a safe environment or gated-and-guard- Aside from As road networks and transpor- trajaya, says Nawawi Tie Leung Real ed community,” she says. tation connections improve, people Estate Consultants managing director Hence, Tan notes that newer de- accessibility and will also become more willing to live Eddy Wong. velopments with spacious homes, in areas once deemed far from their Seri Kembangan is accessible via good landscaped common areas with workplaces or city centres, says iProp several highways such as Besraya Ex- facilities and safer family-friendly aff ordability, Realty Sdn Bhd managing director pressway or Expressway living environments, are meeting Victor Lim. (SBE), (MEX), Kuala the demand for higher-end landed what are its other “Hectic city life, air pollution and Lumpur- Highway, Kajang houses. traffic congestion are some of the Dispersal Link Expressway (SILK) “Lifestyle homes in places like Seri reasons that make people feel like and the South-Klang Valley Express- Kembangan are not only conducive attractions? getting away from city centres after way (SKVE). for families with young children to work. Th us, township developments Other than accessibility and af- grow up in but also suitable for the el- with commercial, recreational and fordability, Wong notes that Seri Kem- derly to enjoy their retirement years,” residential elements on the fringes of bangan off ers lush greenery and lakes she adds. Kuala Lumpur city and Klang Valley that enable housing developers to off er are gaining attention,” he tells Edge- a variety of homes that emphasise its Demand for landed homes Prop.my. serene and green environment. In general, residential property trans- On top of this, with property pric- For instance, BRDB Developments actions in the Klang Valley have mar- es skyrocketing in urban centres, af- Sdn Bhd’s Senja Residence which is lo- ginally declined in 2017 but trans- fordability has also become an issue. cated next to the South Lake of Mines action numbers in Seri Kembangan BROUGHT TO YOU BY Th is makes properties in emerging Resort City, off ers resort-style lakeside have remained stable compared with locations even more attractive. For living with well-landscaped parks and neighbouring areas, such as Bandar the same price, chances are you get a full-fl edged clubhouse. Th e recrea- Baru , Bukit Jalil, Bandar to own a larger home in areas beyond tional facilities available also encourage Kinrara in Puchong and Cyberjaya. the city centre. residents to take breathers outdoors. CONTINUES NEXT PAGE EdgeProp.my

The beautiful lakeview of The Mines Resort City in Seri Kembangan. LOW YEN YEING LOW | SF 2 FRIDAY OCTOBER 19, 2018 • THEEDGE FINANCIAL DAILY SPECIAL FOCUS

Potential for more high-end offerings

FROM PREVIOUS PAGE mine told me there are quite a num- According to transaction data ber of low profi le wealthy families from the National Property Infor- who would look for houses in Seri mation Centre (Napic), Seri Kem- Kembangan rather than move away bangan has seen 124 terraced hous- from this place,” he adds. es sold in 2017 compared with 30 in As household incomes increase Bukit Jalil and 80 in Bandar Kinrara. and population grows, he reckons As for semi-dees, a total of 19 that new higher-end developments transactions were concluded in would have no problem finding Seri Kembangan in 2017, slightly owners, especially upgraders. lower than Bandar Kinrara where Tan from Hartamas opines that 22 units changed hands during the Seri Kembangan is a special place period, while four transactions were with a good combination of ma- recorded in Bukit Jalil. ture commercial developments Meanwhile, 26 detached hous- and natural beauty in the form of es in Seri Kembangan were sold in greenery and lakes, which provide 2017 whereas Bukit Jalil and Ban- this place with great potential for dar Kinrara had six and fi ve trans- more high-end off erings. actions respectively over the same Some of the places in the vicinity period. where one could spend some rec- iProp Realty‘s Lim is not sur- reational time or get back to nature prised with the sales performance include the lake at Th e Mines Resort EdgeProp.my of landed homes in Seri Kemban- City, the Rainbow Bridge at Jalan gan as house prices here are still Kuyoh Recreational Park and the considered relatively lower than Farm in the City. other areas. Th is makes higher-end Seri Kembangan is also home properties here very attractive. to the iconic Palace of the Golden Napic’s data showed that the Horses, Th e Mines Shopping Mall average transaction price of semi- and Selangor Turf Club. dees in Seri Kembangan is around Being one of the oldest residen-

RM384 psf (based on land area) in tial areas in the Klang Valley, Seri YEN YEING PICTURES BY LOW | 2017 or RM1.47 million in absolute Kembangan also has a long list of Easy access to various amenities and well-connected road networks are the pull factors for Seri Kembangan. price compared with RM556 psf good eats for foodies to discover or RM2.38 million in Sri Petaling around the old and new parts of foreign students as well as staff of and a wide range of F&B options fetched the highest asking prices and RM456 psf or RM1.79 million the area. the higher educational institutions — from traditional coff ee shops, psf are in Fortune Park (RM610), in Bandar Kinrara. nearby. restaurants to hipster cafes. Karisma Hill (RM510), Bluwater As for detached homes, bunga- Attracting expats These tertiary education in- Real estate agency Propedia Estate (RM492), Taman Pinggiran lows in Seri Kembangan record- Nawawi Tie Leung’s Wong notes stitutes include Universiti Putra Consultancy founder Vicky How Putra (RM463) and Senja Residence ed an average transaction price of that landed lifestyle homes in Seri Malaysia in Serdang, Asia Pacifi c concurs that residential hubs that (RM449). around RM215 psf or RM1.3 mil- Kembangan have also attract- University of Technology & Inno- are close to international schools lion. Similar houses in Sri Petaling ed many expatriates who are vation in Technology Park Malay- or tertiary education institutions Future catalyst were sold at RM546 psf or RM4.33 looking for long-term stays for sia, Infrastructure University KL in Seri Kembangan are attractive Established since 1952, the 66-year- million; while those in Bandar their families as there are quite a (IUKL), Universiti Tenaga Nasional to homebuyers. old Seri Kembangan, once known Kinrara averaged RM312 psf or number of international schools in Kajang and International Medi- She has also observed that many as Serdang New Village, is progres- RM958,360. nearby such as Alice Smith Sec- cal University in Bukit Jalil, which upgraders look for houses which sively being transformed into a Lim opines that other factors ondary School at Taman Equine are all less than 30 minutes’ drive could off er outdoor space for their modern town. that attract homebuyers to Seri and the Australian International from Seri Kembangan. children to play and are close to The future mass rapid transit Kembangan are its living environ- School at Th e Mines, next to Senja Wong notes that students from good schools. MRT 2 project which aims to serve ment and friendly community. Residence. these institutions like to stay in Seri a catchment of two million from “Residents in Seri Kembangan He adds that Seri Kembangan Kembangan for its easy access to Upgraders in Sungai Buloh, Puchong and Seri are friendly and people tend to also caters to the demand for ac- their campuses and to amenities Seri Kembangan Kembangan to Putrajaya, will have know each other. A close friend of commodation from both local and such as Th e Mines Shopping Mall “Seri Kembangan was a popular seven stations in Seri Kembangan place for small manufacturing in- and Serdang: Serdang Raya North, TPM College dustries such as shoes, machineries Serdang Raya South, Seri Kem- Serdang and consumer products. Th e ma- bangan, Universiti Putra Malaysia, Raya jority of the businessmen are local Taman Universiti, Equine Park and Upcoming APM North Selangor MRT2 Stations and have been staying in Seri Kem- Taman Putra Permai.

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r spacious homes located hillside Lim from iProp Realty concurs o

N The Mines or lakeside with modern features that Seri Kembangan’s easy acces- Iron Pasar Sungai Besi Expressway Shopping Mall House Malam and safe living environments. sibility has been the greatest draw Kopitiam SILK Highway According to EdgeProp.my’s for homebuyers. Th e improved pub- MEX Highway Seri data, as of end-September, bunga- lic transport system will defi nitely Alice Smith Kembangan Portman College low homes that carried the highest make Seri Kembangan “closer” to Tmn Rekreasi Senja asking prices psf in Seri Kembangan the city centre and other places. Taman Sri Serdang Residence were those located at Bukit Gita He notes that Seri Kembangan Taman Putra Universiti (Rainbow Bayu (RM832), Mines Resort City has a good mix of old and new, mak- Permai Bridge) UPM Australia (RM771), Bluwater Estate (RM506), ing it a unique community. Th e soft Farm in Perdana Universiti Intl’ School Blu Constellation (RM464) and side of this city plus improved infra- the City Universiti Putra Malaysia Taman Equine (RM300). structure developments will raise Jalan Sungai Besi As for terraced houses, those that its attractiveness in future. FRIDAY OCTOBER 19, 2018 • THEEDGE FINANCIAL DAILY SF 3 SPECIAL FOCUS TOP TREATS in Seri Kembangan

BY TAN AI LENG Seri Kembangan has a good mix 939 ABC Ice House of leisure and recreational offerings Quench your thirst and beat the heat with a bowl for the whole family. Those who of air batu campur or ABC at the ABC Ice House are new to, or unfamiliar with Seri located in an old part of Seri Kembangan. Open 7since 1995, this family-owned business is famous for their Kembangan may discover a place mixed-fruit shaved ice but there are also other items on worth exploring. It offers a few the menu which are popular such as the red bean soup and the curry chee cheong fun. You can easily spot this special Instagram-worthy spots, stall along Jalan Besar as there is always a long queue of places where you can just relax customers especially during late afternoons. and chill, places for fun family The Mines Resort Lake outings and local eateries that will Take a romantic, relaxing stroll by the Mines Resort lake and watch the sunset or have a pic- have you coming back for more. nic with the family. Th e lake is located next to 4Th e Mines Shopping Mall and is within Th e Mines Resort City. Visitors could also take a boat ride from Palace of The Mines Golf Club the Golden Horses. Tee off at one of the fi nest golf courses in the coun- Th e Mines Resort lake was previously one of the largest try! Built on the former site of the largest open cast open cast tin mines in the world. It was then redeveloped 1tin mine in the world, Th e Mines Golf Course is de- into a recreational lake as part of Th e Mines Resort devel- signed by Robert Trent Jones Jr, an American golf course opment. You can even spot some storks or swans at the architect. Th e 18-hole golf course has hosted numerous lake if the weather is good. international golf tournaments such as the World Cup of Golf, the Kuala Lumpur Open and the Asian Tour. Iron House Kopitiam Located in Serdang new village, this cafe is set up to resemble an old-style kopitiam. Under its simple corrugated zinc roofs lies one of the most 8hipster eateries in Seri Kembangan with many drawn by its olden-day nostalgic charm. Business starts from 6pm daily (except Mondays). You will be surprised by the crowd that gathers there at meal times as they hone in on its specialty dishes – nasi lemak, chili pan mee and Hainanese chicken chop. Farm in the City Selangor Turf Club One of the most popular choices for family out- Black Horse Bet you didn’t know that the Club venue often ings with children is a visit to Farm in the City. Th is cafe with its rustic industrial design is a hosts family-friendly events. Th e club has a histo- 5Farm in the City is a petting zoo within a typical popular hangout for Seri Kembangan folks who ry that goes back to the 1800s as the main horse Malaysian village or “kampung” setting. Among the animals are looking for a place to chill out and have a 2racing course in the Klang Valley, hosting about 30 race at the zoo are exotic ones like the reticulated python, the 9cuppa. Guests will be greeted by a black horse sculpture days a year. In recent years however, it has opened up the common marmoset, the African crested porcupine and and a unique hand drawn piece of art on the blackboard. club for events and activities other than horse-racing, such the Kirk’s dik-dik. Guests can also visit the vegetable farm Th ere are also unusual decor items placed at various as the Mud Colour Festival, the Agape Family Walk, the and fruit orchard as well as enjoy fun activities includ- nooks and crannies that entice customers to explore. It Sungai Besi Autoworld Cup (car show) and community ing a jungle walk, fi shing and bird feeding. It is popular off ers a variety of fusion dishes like wasabi seafood sal- horse rides. Th ere are also horse-riding lessons available because of its educational and entertainment elements. ad, Kimchi Carbonara and desserts like Nutella toast and for individuals and groups. ice-cream waffl es.

Jalan Kuyoh Recreational Park Enjoy the outdoors at this 20-year-old commu- 6 nity park which has recently been rehabilitated by local volunteers and reopened in February this year. Th e recreational park off ers many Instagram-able spots such as the colourful rainbow bridge, the wishing tree, the moonlight house and a large word sculpture of “I love Serdang”. After the rehabilitation, the park has become a popular place to hold community events such as Chinese Palace of the New Year celebrations. Golden Horses Mural art at Built in 1998, the palace-style resort hotel was 3 an icon of luxury hotels in the 1990s. As its name The Atmosphere suggests, the hotel decor is horse-themed, so why not take After a nice meal, take a walk around a selfi e with the giant sculpture of golden galloping horses Taman Prima Tropika’s Th e Atmosphere, and carriage? Other horse sculptures and paintings are 10an integrated commercial development comprising retail found everywhere in the hotel. Besides the hotel, visitors and offi ce, and admire its 3D art and street murals which could also take a sightseeing cruise on the Mines Resort were done by 20 local talented artists. Artsphere 20/8ty@ lake or even have lunch or dinner on the cruise while en- Th e Atmosphere is defi nitely another insta-worthy spot joying the beautiful lake view. one should visit when in Seri Kembangan. SF 4 FRIDAY OCTOBER 19, 2018 • THEEDGE FINANCIAL DAILY SPECIAL FOCUS

roperty developers have moved on from building basic shelters to providing quality, sustainable homes that offer lifestyle ele- ments that meet the discerning needs of homebuyers today. PTh e current trend in lifestyle homes is to cater to the growing sophistication and affl u- ence of the people as well as their preference for a living environment that is curated to complement their needs and aspirations. Th is means a blend of carefully selected off erings from state-of-the-art clubhouse, recreational and wellness facilities, nice land- scaped green spaces and more, all within a gated-and-guarded environment. “A home is more than just a shelter for homebuyers, it is an amalgam of the envi- ronment, infrastructure, surrounding neigh- bourhoods, as well as the amenities that align with their adoption of the live-work- play-learn philosophy,” says BRDB Devel- opments Sdn Bhd (BRDB) CEO Kajendra PICTURES BY BRDB Pathmanathan. “Th e concept of building lifestyle homes is not just putting all the ‘hardware’ into the project, but a developer will need to think about the interaction of modern features with the natural settings of the land to create the right formula of the lifestyle homes,” he The Senja rises says, adding that the challenge is to create value for homebuyers and build communi- ties that inspire. Indulge in fine living colours as the sun passes, cool and soothing Strategic location and healthy Since its inception in 1964, BRDB has Senja which in Bahasa Malaysia means twi- in the heat of the afternoon, soft and bathed fundamentals drawn up a track record of creating ex- light or dusk, conveys the time of day for with golden light as evening falls,” he says. Residential property values in Seri Kem- clusive lifestyle developments including refl ection, calm and tranquillity. Th e name Notably, the clubhouse boasts a wide range bangan have been climbing over the years One Menerung and the Serai Bukit Bandaraya also refl ects the developer’s vision to craft of off erings for all age groups. as the area has become a popular choice for in , Kuala Lumpur, Th e Troika in KLCC, a project that off ers its residents an “indul- For working adults, the signature club- those looking for spacious lifestyle homes the 35.2-acre Th e Straits View Residences and gence in fi ne living”. house is custom-designed to complement with convenient amenities at hand. Emerald Bay in Puteri Harbour, , According to Kajendra, the leasehold the work-life-integration of the modern Senja Residence is in a private enclave as well as Tamansari in Rawang, Selangor. lakeside development consists of well land- executives’ lifestyle. Within it is an elegant within the Bluwater Estate in Seri Kem- BRDB Developments also has a presence scaped parks as well as a clubhouse located business lounge complemented by the ad- bangan. It is surrounded by the townships in Pakistan, the UK, Oman and Australia. at the heart of the development. jacent elevation lounge and discussion area. of Sri Petaling, Bukit Jalil, Puchong, Bandar “Our properties have stood the test of time “Th e centrepiece of the development is Th e well-equipped gym will also be a defi - Kinrara, Cyberjaya and Putrajaya. It has and continue to appreciate in value. Th e an oasis that captures the day’s changing nite asset to busy executives. easy access to various highways such as Da- company’s success stems from our distinctive Children can live out their adventures mansara-Puchong Expressway (LDP), Shah brand promise — ‘Inspired by the richness amidst the lush greenery, while the central Alam Expressway (KESAS), Kuala Lumpur of life’, which is anchored on three pillars — park with children’s playground is perfect Middle Ring Road 2 (MRR2), North-South intelligent design, uplifting aesthetics and for the little ones. Expressway Central Link (ELITE), Sungai embracing cosmopolitan,” off ers Kajendra. Th e elderly will relish the resort-inspired Besi Expressway (SBE) and Kajang Disper- More recently, BRDB introduced exclu- living perfect for dawn or dusk walks by the sal Link Expressway (SILK). sive lakeside residences in Seri Kembangan, lake or have a group wellness activity or Kajendra believes that in future, the MRT Selangor which is seeing rising demand for just moments of tranquillity. For the more Line 2 or the Sungai Buloh-Serdang-Putra- lifestyle homes. active ones, there is the tennis court which jaya line will attract more people to work Th e 47-acre resort home development is surrounded by lush greenery, giving it a and stay in Seri Kembangan. Senja Residence is surrounded by lush green- true country club ambience. Th e MRT line will run from Sungai Bu- ery and its location by the South Lake of Kajendra: Our As for the homes, light and space play loh to Putrajaya with the proposed Serdang Th e Mines Resort City has become one of properties a big part in each residential unit’s design. Raya North, Serdang Raya South, Seri Kem- the focal points of Senja’s design concept of have stood Tall, fl oor-to-ceiling windows let in shafts bangan, Universiti Putra Malaysia, Taman lakeside living. Its master plan is designed the test of of sunlight and shade, while wide verandas Universiti, Equine Park and Taman Putra to allow residents to reconnect with nature time and and broad balconies off er direct access from Permai stations serving the Seri Kemban- and with each other. It off ers homebuyers continue to home to nature within a gated-and-guarded gan and Serdang areas. a peaceful sanctuary away from the hustle appreciate community. Senja Residence’s neighbours include and bustle of city life. in value. Currently, Senja Residence off ers home- prestigious schools such as Th e Australian buyers 114 residences comprising 62 luxury International School of Malaysia and the terraced homes, 24 semi-dees, 26 villas and Alice Smith School Secondary Campus. two bungalows. Tertiary education institutes nearby include Th e terraced homes measure 26ft by 92ft Universiti Putra Malaysia (UPM), Multi- with built-ups ranging from 3,250 sq ft to media University (MMU) and Limkokwing 3,697 sq ft. Th e semi-dees have land area sizes University of Creative Technology. from 3,496 sq ft and built-up of 4,380 sq ft. Seri Kembangan is also home to land- Th e villas are even bigger at 46ft by 98ft marks such as Th e Palace of Golden Hors- or 4,508 sq ft, with built-ups of 4,680 sq ft es, the Selangor Turf Club, and Th e Mines and 4,675 sq ft. Th e two exclusive bunga- Shopping Mall. low homes have land area sizes of 7,621 sq Th e recent announcements on the trans- ft and 8,804 sq ft and built-ups of 5,621 sq formation of the Mines International Exhi- ft and 6,570 sq ft respectively. bition and Convention Centre (MIECC) into “We have stayed true to our three pillars the Mines Car City Centre (MCCC), touted when developing Senja Residence — cre- to be the fi rst and largest automotive expo ating an environment that is liveable, de- centre in Asean will also add economic vi- signed for functionality and conducive to brancy to the area. the cosmopolitan lifestyle. Each of Senja “Seri Kembangan is a self-sustaining mature Residence’s luxury residences has been de- township with plenty of amenities where one signed to enhance its residents’ enjoyment of can basically get everything from daily needs lakeside living. Lush greenery abounds with to education, shopping and leisure as well as resort-inspired facilities, all which bear the commercial activities,” off ers Kajendra. The signature clubhouse, located by the lake, is custom-designed to complement the hallmarks to quality and craftsmanship that activities of all the residents regardless of age. BRDB is known for,” says Kajendra. Call 03-2727 7555 for more details. FRIDAY OCTOBER 19, 2018 • THEEDGE FINANCIAL DAILY EP 5

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WHAT ARE YOU GETTING INTO? OLD CAN BE GOLD PANEL DISCUSSION Make informed investment It’s in the genes. Really? “Do landlords still grow FOR DETAILS CALL decisions Khaw Chay Tee rich in their sleep?” EdgeProp.my Chairman, Sri Penaga Management Corporation Panellists: (Sri Penaga Condominium is the Gold winner of 03 7721 8289 EdgeProp Malaysia’s Best Managed Property Awards 2018 – • Anthony Lee Tee Above 10 years Multi-Owned Strata Residential category) • Chris Tan SAFE BUILDING — • Khaw Chay Tee OR EMAIL INVESTMENT SAFE WHEN TENANTS ARE KING! Moderator: Au Foong Yee, Ignore and, well, just pay for it! Managing Director [email protected] Navigating the landmines Anthony Lee Tee & Editor-in-Chief, EdgeProp.my Please note that this is an 18 years old Accredited building inspector and trainer, Chris Tan and above event. Architect Centre Founder and Managing partner, Chur Associates

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A PULLOUT EVERY FRIDAY WITH A PULLOUT EVERY FRIDAY WITH Many have seen their investments go down the drain when a project is abandoned or when a builder defies the law. How many FRIDAY, OCTOBER 12, 2018 . ISSUE 2750/2018 . PP19055/06/2016(034530) PRINT + DIGITAL FRIDAY, OCTOBER 5, 2018 . ISSUE 2745/2018 . PP19055/06/2016(034530) PRINT + DIGITAL developers have been blacklisted thus far? See Pages 6 and 7. EP EP EP

TEP Jƃyƃ Oȶlj tɁ 03 03 Ɂpljȶ Thlj Squƃrlj 06 NEWS NEWS FEATURE 03 Ȉȶ Dljcljmƹljr NEWS RAISING THE UȶsɁȢd cɁmpȢljtljd Oct 19, hɁmljs ƃt ‘Extljȶd yɁur Ȣƃȶd DȈscɁʤljr thlj rljcɁrd hȈgh Ȣljƃslj ƹljǹɁrlj ȈȶȶɁʤƃtȈʤlj Ȉt ljxpȈrljs’ wɁrȢd Ɂǹ pƃȈȶt 2018 ˒Х˒͜Ά˒̇Ά̗ ΩΔΆ͜Δ̗ԸΩ͇͇Ά͜Δ̗ InGAME recent years, Genting Highlands has transformed itself Missed our into a lifestyle destination thanks to Resorts World Genting. past issues? Find out what else is to come on Pages 4 and 5. Scan this code Uptown to visit our PƃȈȶtȈȶg ƃ digital archive! pȈcturlj Ɂǹ Thlj Cƃȶʤƃs HɁtljȢ www.EdgeProp.my TEP 06 FEATURE rising Th is small commercial enclave TEP of Damansara Uptown in Petaling Jaya 08 has seen a recent rise in popularity. FEATURE What is drawing the traffi c? BrȈȶgȈȶg ȢȈǹlj tɁ thlj ː Ɂwljrs Ɂǹ See Pages 4 and 5. STAY Crazy Rich Asians UP-TO-DATE

available available with all things online + offline online + offline MȈssssljd Ɂuurr MȈssssljd Ɂuurr pƃsstt Ȉsssusuljss?? pƃstst Ȉssussuljs?s? ScanScan thisthis ccodeode ScanScan tthishis codecode property to visit our to visit our digital archive! digital archive! www.EdgeProp.my Oct 12, Oct 5, www.EdgeProp.my 2018 2018 Where do I get a copy? CONTACT US DOWNLOAD for free at www.EdgeProp.my Editorial [email protected] Every Friday at MORE THAN 200 ofˎ ces, shopping complexes, Advertising & Marketing [email protected] condos, medical centres and F&B outlets in the Klang Valley. Negotiator & Customer Advisory Service [email protected] Also distributed with The Edge Financial Daily. EP 6 FRIDAY OCTOBER 19, 2018 • THEEDGE FINANCIAL DAILY COVER STORY How many ROGUE DEVELOPERS

are there? Abandoned Deˎ ed the projects Tribunal for Homebuyers Claims TAN CHONG LENG SUHAIMI YUSUF | THE EDGE 169 BY TAN AI LENG

(as of Sept 14, 2018) (as he fi rst question a homebuyer should Failed to pay 312 ask is probably “who’s the developer?” compound Th e biggest nightmare for a property buyer is when a project fails to be de- Total as at livered or when it is delayed for a pro- Sept 14, 2018 Tlonged length of time. Prevention is 474 defi nitely better than cure but how do you spot a bad apple? Th at’s the tricky part.

blacklisted For a start, the Housing and Local Government Unlicensed 1,046 Ministry (KPKT)’s National Housing Department SOURCE: NATIONAL has a blacklist of property developers which one developers HOUSING DEPARTMENT could refer to. A total of 1,046 developers have been Tan: Instead of company Soam: Current named on the National Housing Department’s names, the directors’ enforcement and blacklist. Up till Sept 14 this year, the list showed names of blacklisted penalties are sufˎ cient 91 169 developers involved in abandoned housing companies should be to stop developers from projects; 91 unlicensed developers; 474 develop- revealed to the public. breaching the law and The Boss, a mixed ers who failed to pay compounds for breaking the regulations. developers development in law; and 312 developers who defi ed the Tribunal

Number of Number of Klang, has been for Homebuyers Claims (TTPR). According to Real Estate and Housing Devel- categorised as Based on the list of developers involved in aban- opers’ Association (Rehda) president Datuk Soam an abandoned doned projects, EdgeProp.my trawled the web to Heng Choon, Rehda will cancel the membership project since 2016. fi nd the names of the aff ected projects and the of the company which has been blacklisted by the current status of each. Unfortunately, there was government. very limited information online as all the develop- He opines that unlike two decades ago, current ers were registered as private limited companies. enforcement and penalties are suffi cient to stop Unlike public-listed entities, private limited developers from breaching the law and regulations. companies have no obligation to disclose compa- “A majority of the companies on the blacklist has ny information including directorship, fi nancial been there for a while. I don’t see a need to disclose results and ownership to the public. the names of the directors of these old companies. Nevertheless, the public could request for a However, if there are any new names [going for- company’s details from the Companies Commis- ward], the authorities could consider revealing the sion of Malaysia (SSM) for a fee of between RM5.30 names of the directors to alert homebuyers and and RM105.30. even industry players,” Soam says. Th e National House Buyers Association’s (HBA) Chinese division head Tan Chong Leng says it Ministry may review current penalties is normal for property development companies KPKT Minister Zuraida Kamaruddin tells Edge- to register a private limited entity (Sdn Bhd) as Prop.my that the ministry takes the issue of rogue a subsidiary, for joint ventures and accounting developers seriously, especially those responsible purposes, when undertaking the construction and for abandoned projects. marketing of a project. “People use their hard-earned savings to pur- Th e private limited company is deemed as a sep- chase a property and that might be the only house arate entity from the mother company or its owner, they are buying in hope of owning a home. I think to protect the shareholders from personal liability. there is a need for a review on current penalties Th e minimum requirement for setting up the against these developers who fail to deliver on private limited company is to have two direc- their promises,” she says. tors. Th ese directors may not be the owners of Under the amendments to the Housing Devel- the company. opment (Control and Licensing) Act 1966 (HDA “Th ere are loopholes in this system because in 1966), in order to enhance protection of home- some cases, the real owners or investors use their buyers, all licensed housing developers who fail employees’ or someone else’s name to set up the to complete a housing project or have caused a company; if anything happens, they could easily project to be abandoned shall be deemed to have get away from any legal action,” Tan says. committed a criminal off ence. “Instead of stating the name of the private Upon conviction, a developer is liable to a fi ne limited company, revealing the name of the di- of not less than RM250,000 and not more than rectors or owners will be a more effective way in RM500,000, or jail of up to three years, or both. preventing unscrupulous Besides this, under section 8A of the HDA 1966, developers from taking a purchaser who has obtained written consent from advantage of the loop- the end-fi nancier could request to terminate the MOHD IZWAN MOHD NAZAM | THE EDGE MOHD IZWAN hole in the system as Sale and Purchase Agreement if they discover that personal reputation a developer has not carried out, delayed or ceased matters in busi- work for a continuous period of six months. ness,” off ers Tan. Zuraida notes that legal action has been taken FRIDAY OCTOBER 19, 2018 • THEEDGE FINANCIAL DAILY EP 7 COVER STORY

Klang Valley projects that came under the ailing projects list in 2018 (as of Aug 31, 2018) NO COMPANY PROJECT NAME SCHEDULED STATES TYPE OF COMPLETION PROPERTY DATE 1 Putrajaya Homes Sdn Bhd Aura 30/01/2018 Kuala Lumpur Strata high-rise 2 Maju Bena Properties Sdn Bhd (Maju Bena Properties Sdn Bhd) 07/01/2018 Selangor Landed 3 Project Controline Sdn Bhd Taman Dato' Hormat 14/01/2018 Selangor Landed 4 Chong Sang Onn Sdn Bhd (Chong Sang Onn Sdn Bhd) 01/02/2018 Selangor Landed 5 Micro Mart Sdn Bhd 25 Unit Rumah Teres 1 Tingkat 05/02/2018 Selangor Landed 6 Outrecorp Sdn Bhd Taman Budi 2 05/02/2018 Selangor Landed 7 Timbunan Tunas Dev Sdn Bhd Timbunan Tunas 18/02/2018 Selangor Strata high-rise 8 Chong Sang Onn Sdn Bhd (Chong Sang Onn Sdn Bhd) 03/03/2018 Selangor Landed 9 GSM Sdn Bhd GSM Sdn Bhd 01/04/2018 Selangor Landed 10 PNSB Acmar Sdn Bhd Palm Garden Apartment 01/04/2018 Selangor Strata high-rise 11 Harp Soon Construction Sdn Bhd Taman Andalas Jaya 30/05/2018 Selangor Landed 12 Khatammi Development Sdn Bhd Taman Desa Intan 06/06/2018 Selangor Landed KENNY YAP | THE EDGE LOW YEN YEING | EdgeProp.my 13 Sukma Melati Sdn Bhd Taman Dataran Abadi 22/06/2018 Selangor Landed SOURCE: NATIONAL HOUSING DEPARTMENT SOURCE: NATIONAL

Developers involved in abandoned ABANDONED projects and ailing projects Total: 169 developers in Peninsular Malaysia (as at Sept 14, 2018)

Kedah AILING Perlis 9 Total: 295 projects 2 15 (as at Aug 31, 2018) Zuraida: KPKT takes Lim: Real estate the issue of rogue agents will do their developers seriously, due diligence to Kelantan especially those avoid representing Penang 8 responsible for problematic projects. 9 32 abandoned projects. 11 on the blacklisted developers involved in aban- Terengganu doned projects, and [the ministry will] fi nd ways Perak 3 to revive the project or resolve the issue. 14 32 Th e ministry is now reviewing the list of aban- doned projects and looking at shortening the 36 time for white knights to take over these projects, she says. Pahang A National Housing Department report dated Kuala Lumpur 5 June this year stated that a total of 14 developers 35 36 or 30 directors from the blacklisted companies 8 have been prosecuted. Th e report stated that there are a total of 254 Negeri Sembilan abandoned projects in Peninsular Malaysia with 8 Selangor having accumulated 82 followed by Jo- No info* Melaka hor and Negeri Sembilan, which have 44 and 25 11 projects, respectively. 10 4 Th e department also has a list of ailing projects 8 (Projek Sakit) in Peninsular Malaysia. As of Aug 31, Selangor Johor 2018, there were 295 projects on the list. 50 14 Ailing projects are projects where their onsite 82 22 works have fallen behind schedule by more than 30% or have fallen behind the stipulated date of * No information shown on the National Housing Department’s list completion as stated in the Sale and Purchase For the updated blacklist and list of ailing projects, go to http://ehome.kpkt.gov.my/index.php/pages/view/386 HOUSING DEPARTMENT SOURCE: NATIONAL Agreement. Reasons for the delay are usually relat- ed to land problems or disputes, human resource and building material sourcing problems. however, be aware of the names of the companies He notes that there are quite a number of li- Selangor recorded the highest number of ail- involved in abandoned projects and the names of censed real estate agents or registered negotiators ing projects (82 projects), followed by Pahang and unlicensed developers, he says. who are focused on primary market products and Perak which had 36 projects each. Terengganu and “Some unlicensed developers or small players they could act as gatekeepers for homebuyers. Kelantan were next with 32 ailing projects each. have no track record or stable fi nancial background. According to Lim, there have been cases where According to the report, some projects were Th ey like to spend a lot on advertisements in social the marketing agents have been confronted by behind schedule by a few months while others media and brochures to attract buyers but buyers buyers demanding refunds when the developer had been delayed for years. For instance, Empire Look out for the should beware as it could be dangerous for the failed to deliver the property. Residence developed by Mammoth Empire Land online version of buyer if they trust these developers,” Lim warns. “Agents who are working with developers will need Sdn Bhd in Damansara Perdana, Petaling Jaya is this story at To avoid buying dubious projects, Lim advis- to do their due diligence to make sure that they do in the list as its original completion date should www.EdgeProp.my es one to look out for the Advertising Permit & not represent problematic developers as that might be in December 2014. which will have Developer’s Licence (APDL) number on an ad- cost them their reputations and sales commission the full list of vertisement. Th is is because property developers if any problems arise with the developers,” he says. Property agents as gatekeepers blacklisted developers will need to apply for the licence before selling He adds that KPKT should take proactive action Th e Malaysian Institute of Estate Agents (MIEA) as well as or advertising their projects on the local media. in educating homebuyers by frequently updating president-elect Lim Boon Ping explains that the abandoned and “For those looking for residential properties in the blacklist. number of developers on the blacklist has been ailing projects. the primary market, the fi rst thing is to search for the It should also participate in property expos to accumulated from 20 years ago. Hence, the public APDL number and its valid date to make sure that the inform the public and enable homebuyers to check should not worry about the numbers. Th ey should project has been approved by the ministry,” he adds. the status of a developer on the spot, says Lim. EP 8 FRIDAY OCTOBER 19, 2018 • THEEDGE FINANCIAL DAILY FEATURE

BY RACHEL CHEW

andlocked in the eastern Hima- The layas, Bhutan is a small country of only 38,394 sq km sandwiched between Tibet to the north and curious India to the south, east and west. To the west, Bhutan is separat- Led from Nepal by the Indian state of Sik- things kim; and further south it is separated from Bangladesh by the Indian states of Assam and west Bengal. Due to its geographical Bhutan about location, Bhutan enjoys strong cultural links with Tibet. Th e country’s landscape ranges from lush subtropical plains in the south to the sub-alpine Himalayan mountains in the north, where there are peaks in excess of 7,000m. Th e highest mountain in Bhutan is the Gangkhar Puensum, which is also a strong candidate for the highest unclimbed mountain in the world. However, what makes Bhutan well- known may not be so much the untouched Gangkhar Puensum, but the fi rst-of-its-kind Gross National Happiness (GNH) index. Bhutan made its name in the world as the fi rst country that measures the happiness level of its people by using the GNH index. According to the GNH Centre Bhutan website, the GNH Commission is the highest government body mandated to formulate and monitor policies. It is an institution that fosters a conducive environment and steers national development towards the promotion of happiness for all Bhutanese, guided by the philosophy of GNH. Th e vision explains why the Bhutan gov- ernment off ers free education and medica- tion to all its people to make a worry-free life possible in Bhutan. Th e policy also shows that the govern- ment is taking the mental and physical health of its people very seriously, hence it is not surprising to know that Bhutan is the only country in the world that completely bans the sale and production of tobacco. In a tag-along trip organised by Apple Vacations — the only travel agency provid- ing chartered fl ights directly from Kuala Lumpur to Bhutan — EdgeProp.my was told that smoking in public places is con- sidered a crime in Bhutan that could send you behind bars for three years! In addition, it was also learnt that Bhu- tan’s royal family and government strongly believe that keeping a balance of the natural and traditional, as well as modernity and westernisation is the secret in maintain- ing the GNH level. Th is is why the ban on television and the Internet was only lifted The traditional Bhutanese buildings were built from stone, sand and wood.

a mere 20 years ago. Th e local tour guide of the trip, Sonam Phuntsho also reveals that the number of tourists is placed under strict control. Th e

daily visa cost is US$250 (RM1,035) — the EdgeProp.my ANTON IVANOV IVANOV ANTON most expensive in the world. Th e US$250 covers a guide and a bespoke itinerary in- cluding transportation, accommodation, sightseeing, meals and US$65 daily gov- ernment tax that goes to public services like education and health care. So, do not expect to travel freely. Bhutan

is not a budget destination or a place for CHEW | PICTURES BY RACHEL backpacker-style drifting. Nevertheless, the harsh travel regula- tions have not deterred tourists. In fact, it has made Bhutan one of the most exclusive destinations which many travellers are dy- ing to visit, thanks to the fact that it is one of the few countries in the world that is not only carbon neutral, but carbon negative. It literally means that every breath you take is pure, clean and fresh oxygen. Th e abovementioned facts are just the tip of the iceberg about Bhutan, under which lies many more curious practices. Here are seven interesting facts about Girls from the Ngalops tribe walk along a bridge A view of Thimpu city. Bhutan that make great conversation pieces. in Thimpu. FRIDAY OCTOBER 19, 2018 • THEEDGE FINANCIAL DAILY EP 9 FEATURE

The country’s landscape ranges from sub-tropical plains in the Bhutan’s unique south to sub-alpine mountains address format in the north. Bhutan is a tiny country compared to its neighbours — India and China, so much1 so the joke is that everyone knows each other in Bhutan. Its unique address format is a refl ection of this community feel. Here is one real example: “Le Meridien Hotel, Choten Lam, opposite Clock Tower Square, Th impu, Bhutan.” Th ough there are newer buildings that are given numbers, the majority of the buildings still use the traditional address format. Of course, it is easy to spot a landmark such as the Le Merid- ien Hotel, as it is the only 5-star hotel in Th impu. But how about a normal house? Th e address format is the same but most mail senders will include the recipient’s full name and phone number in case the house can’t be found, so that the postman can call and ask around.

No factory and slaughter house in Bhutan Buddhism is the offi cial religion of 2the country, embraced by 80% of its population. In line with the religion’s No 1 precept against tak- ing life, the country has banned slaughter houses. SCAN NOW However, people are free to choose to consume to view our meat. Meat is also sold in the market. According video of to Sonam, most meat is imported from India. Bhutan! Besides slaughter houses, factories are pro- hibited too. Industrial activities are banned to keep the environment and air free from pollu- tion. Hence, most of the manufactured goods in Bhutan are imported. Nevertheless, small workshops are allowed with minimal involvement of machinery, es- pecially traditional productions such as local species plant-made paper. Foreigners own no land nor property Only Bhutanese- that is not only carbon neutral, but Bhutan is taking its time to open up style buildings to the world as it prioritises culture 5preservation and the happiness level of its people. are allowed It is not possible for a foreigner to own prop-

Bhutan was united by a Tibetan, Bhutan is one of the few countries in the world erty in Bhutan. According to Sonam, no foreigner 3Zhabdrung Ngawang Namgyal in 1627. He was can own any immobile asset in the country. One also the man who introduced Buddhism to the may rent a house or offi ce but can never own one. country. Th e historical connection explains the Even if you want to do business there, you similarities between Tibet and Bhutan in terms may think twice as the initial investment and of culture, language, food and architecture. compliance cost may put you off . For foreigners A few special features mark a typical who wish to do business in Bhutan, a joint ven- Bhutanese building. Most of them are built us- ture with a local party is a must. Th e investment ing only three natural resources — wood, stone proportion is between the two parties but one and sand; walls and pillars are usually painted thing for sure — the foreigner will not be own- or carved with Buddhist tales or symbols; and ing any asset, land or building in the country, windows are maximised to encourage natural no matter how much he or she has invested in light and airfl ow. building one. Th ese traditional buildings’ DNA can still be Many One of the world’s seen even in Bhutan’s modernised structures. traditional most dangerous In fact, a law decrees that all buildings in the No housing welfare structures are country including new ones must incorporate built without airports traditional Bhutanese elements, at least on the in Bhutan using a single According to Paro Airport’s website, exterior. Th is is intended to preserve the tradition With free education and basic public nail. 7it is the only international airport of the four air- and let the buildings tell the story of the country. healthcare, we may think the gov- ports in Bhutan. It was the fi rst and only airport 6ernment would also take care of the people’s in Bhutan until 2011. housing, but it does not. Th e airport has been ranked as one of the No building can go According to Sonam, the government of Bhu- most dangerous in the world by engineering tan does not provide any housing subsidy to website — www.interestingengineering.com. beyond six storeys carbon negative the people. Land and houses are traded in the Th e website stated that pilots require a spe- Th impu and Paro are the biggest cit- free market. cial certifi cate before they are allowed to land ies in Bhutan. Both cities are mod- Property development is not a big industry as at Paro Airport due to its complexity — it has a ernised.4 You can fi nd western restaurants and most Bhutanese still prefer to buy a piece of land short runway of 1,964m and is surrounded by cyber cafes easily. Most of the foreign corporate and build their own home. However, more low- 5,500m peaks. offi ces are set up here. rise apartments are coming up. In building their As at August 2018, direct fl ights to Bhutan Nonetheless, there is no skyscraper in the cit- own homes, they will have to purchase building are only available from four countries: Th ailand ies, in fact, not even a tall building because no materials, such as wood and limestone from the (Bangkok), India (Delhi, Kolkata, Gaya, Mumbai, building can go beyond six storeys in the country. government. Supply of the desired quantity de- Guwahati and Bagdogra), Nepal (Kathmandu) One reason is because Bhutan is earthquake-prone pends on the current reserve. and Singapore. — in 2009, the kingdom was hit by a 6.1 magnitude Bhutan’s tourism website shows that the gov- earthquake. Most deaths occurred when houses ernment has enacted a law to maintain at least The visit to Bhutan was courtesy of Apple Vacations collapsed on the victims. Since then, a regula- 60% of its forest reserve at all times. As at August which is organising the next chartered flight and

tion has limited all buildings to within six levels. . 2018, there is 72% forest coverage, reveals Sonam. tour to Bhutan in December. EP 10 FRIDAY OCTOBER 19, 2018 • THEEDGE FINANCIAL DAILY

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Kelly (PEA1960) Louis Lee (REN 28159) Adib Kamaruddin (REN 21206) Celia Ng (REN 24136) CBD PROPERTIES SDN BHD HARTAMAS REAL ESTATE REALTY APPRAISAL SDN BHD RGROUP 6 SDN BHD (MALAYSIA) SDN BHD (E (1) 1197) (E (1) 1439) (VE (1) 0274) (E (1) 1707/6) +6012 266 0695 +6016 117 9478 +6010 239 5263 +6012 557 2240

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Celia Ng (REN 24136) Mohamed Fahmi (REN 17851) Mohamed Fahmi (REN 17851) Mohamed Fahmi (REN 17851) RGROUP 6 SDN BHD VIVAHOMES REALTY SDN BHD VIVAHOMES REALTY SDN BHD VIVAHOMES REALTY SDN BHD (E (1) 1707/6) (E (1) 1670/5) (E (1) 1670/5) (E (1) 1670/5) +6012 557 2240 +6018 367 6238 +6018 367 6238 +6018 367 6238

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Lisa Chow Ai Yin (PEA1818) Rachel Lee (REN 27514) Rachel Lee (REN 27514) Rachel Lee (REN 27514) MAXLAND REAL ESTATE AGENCY LANDMARK VALUERS & CONSULTANTS LANDMARK VALUERS & CONSULTANTS LANDMARK VALUERS & CONSULTANTS (E (3) 0769) (VE (3) 0022) (VE (3) 0022) (VE (3) 0022) +6012 321 8111 +6012 992 2872 +6012 992 2872 +6012 992 2872 Published by The Edge Property Sdn Bhd (1091814-P) Level 3, Menara KLK, No 1, Jalan PJU 7/6, Mutiara Damansara, 47810 Petaling Jaya, Selangor, Malaysia. Printed by Ultimate Print Sdn Bhd (62208-H) Lot 2, Jalan Sepana 15/3, Off Persiaran Selangor, Seksyen 15, 40200 Shah Alam, Selangor, Malaysia.