TEP 2 FRIDAY MARCH 31, 2017 • THEEDGE FINANCIAL DAILY NEWS More thought has to be Th eEdgeProperty.com The Edge Property put into building designs SYMPOSIUM ON Malaysia PROPERTY MOHD IZWAN | TheEdgeProperty.com KENNY YAP | TheEdgeProperty.com MANAGEMENT BY LUM KA KAY Khoo: It is Chen: The 2017 crucial that lousier the PETALING JAYA: As homes are now a property design, the regarded as lifestyle investments, manager more likely greater thought has to be put into and the [it is for IS YOUR their design and fi nishing. JMB share residents INVESTMENT “Any misstep will have a long- the same or tenants] Publisher and Group CEO term impact on the liveability of the objective in to end up Ho Kay Tat homes with the ultimate being the managing a with higher maintenance cost, ineffi cient use property. maintenance. a Time of space and wastage, hampering ? movement and eventually impair- “A developer today has to provide property managers: organisation bomb ing the value of the building,” said lifestyle elements, unique design or structure; standard of procedures; Building Management Association concepts and better infrastructure income and expenses; as well as Saturday,SaS tturday ApAprilril8 8, 2017 The Edge Property Sdn Bhd (1091814-P) of Malaysia (BMAM) president Tan planning to draw purchasers as well transparency and governance. Level 3, Menara KLK, No 1 Jalan 9AM SHARP — 1PM PJU 7/6, Mutiara Damansara, 47810 Sri Eddy Chen. as to raise the brand value of the “It is important to come up with Citrine Ballroom, One Petaling Jaya, Selangor, Malaysia He told Th eEdgeProperty.com company. an organisation or structure as to World Hotel, that for most high-rise stratified “A building is no longer seen as what kind of property managers Petaling Jaya buildings, the highest single recur- just brick and mortar but one that you need. Are you looking to hire a Th eEdgeProperty.com ring cost is for the maintenance of a provides a wholesome physiological professional team or individuals to Managing Director/Editor-in-Chief building throughout its life. and psychological sense of well-be- help manage your property? Au Foong Yee “Th e lousier the design, the more ing and security,” he noted. “For income and expenses, both EDITORIAL likely [it is for residents or tenants] to On the other hand, chairman of the property manager and the JMB Editor Lam Jian Wyn end up with higher maintenance, re- DN Homeowners Bhd Andy Khoo have to ensure that the collection [of Contributing Editor Sharon Kam placement and retrofi tting cost and shared that it is crucial for a property service fee] must be well maintained Deputy Chief Copy Editor James Chong this will eat into the sinking fund. manager and the Joint Management to ensure continuous operations of Senior Copy Editor “A good building design must Body (JMB) to share the same objec- property maintenance. Shanthi Murugiah incorporate, for instance, easy ac- tive in managing a property. “Finances have always been the Writers Rachel Chew, Tan Ai Leng, Natalie Khoo, Shawn Ng, Lum Ka Kay cessibility to the car park, to the lift, Established in about 2003, DN biggest challenge when it comes to Art Director Sharon Khoh common corridors and facilities,” Homeowners Bhd is the company property management hence prop- PRESENTED BY Design Team Edra, Henry Lee Chen added. that oversees the Duta Nusantara erty managers should always ask Chen will be speaking more on neighbourhood in Kuala Lumpur. themselves whether the income is For New Launches/Events/ Press Releases/News Tips building design during his session All Duta Nusantara property own- enough to meet expenses,” he said, Th eEdgeProperty.com email: [email protected] entitled “Is the devil in the building ers are members and shareholders. adding that he will share more dur- Tel: 03-7721 8211 Fax: 03-7721 8280 design?” at the upcoming Th eEdge- It is headed by an elected board of ing his session entitled “Managing Email: [email protected] Property.com Symposium on Prop- directors, which is made up of nine your property manager — dos and PARTNERS ADVERTISING & MARKETING erty Management 2017 themed “Is homeowners, who then appoints don’ts” at the symposium. Head of Marketing and Sales your investment a time bomb?”. Th e a property management team to Th e symposium will also feature Sharon Chew (012) 316 5628 symposium will be held on April 8 run the day-to-day operations of Architect Centre accredited build- Senior Account Managers Cecilia Too (012) 319 7666 at One World Hotel, Petaling Jaya. the community, including securi- ing inspector and trainer Anthony Jayne Law (016) 929 3309 The event is presented by Th- ty, landscaping and other services. Lee Tee, Chur Associates founder Account Managers eEdgeProperty.com, with partners “Objectives are what form the and managing partner Chris Tan, Jayremy Sim (011) 1669 6039 Nippon Paint Malaysia and Pana- [base] of the management commit- Singapore Association of Property Jocelyn Poo (012) 611 5626 SUPPORTING SPONSOR Marketing Support & Ad Traffi c sonic Malaysia. It is supported by tee itself. You have to organise your- and Facility Managers president Dr Madeline Tan (03) 7721 8218 Th e Edge Malaysia while the sup- self in order to make things work. Lim Lan Yuan, Malaysian Institute email: [email protected] Email : [email protected] porting sponsor is Gamuda Land. Everybody (both the JMB and prop- of Professional Property Managers Chen, who is also the group man- erty manager) should be there for (MIPPM) president Sarkunan Sub- SUPPORTED BY NEGOTIATOR ADVISORY SERVICE aging director of MKH Bhd, said the same reason,” he said. ramaniam as well as Th eEdgeProp- Senior Manager Elizabeth Lay unlike in the past, the role of a de- Khoo highlights the four points erty.com managing director and ed- Senior Associate Stannly Tan Associate Karen Wong veloper has evolved to more than that should be taken into account itor-in-chief Au Foong Yee, who will just providing basic shelter. when it comes to managing the be moderating a panel discussion. For enquiries and listings email: [email protected] GL: (03) 7721 8175/ 8172 How do I get past issues of this weekly pullout? Email: [email protected] trending Go to TheEdgeProperty.com to download for free TheEdgeProperty.com pullout is now published by The Edge Property Sdn Bhd. It is available with The Edge Financial Daily every Friday. The pullout is also distributed at more If you have any real estate-related events, email us at [email protected]. than 200 offi ces, shopping complexes, LAUNCHES + EVENTS Events listed here will also appear on TheEdgeProperty.com. condos, medical centres, F&B outlets and LRT stations in the Klang Valley. You can also download it for free at tips on ways to “minimise cash home ownership and lifestyle Group Bhd is organising www.TheEdgeProperty.com layout in overseas investments” experience. Admission is free. a carnival for its guests as well as talk about the impact featuring an assortment of of the KL-Singapore High Speed World Cuisine Carnival at international cuisines at its Th e Edge Malaysia Rail on properties in Melaka. Eco Ardence Eco Ardence Sales Gallery. EDITORIAL Date: Apr 7 to 9 (Fri to Sun) Editor-in-Chief Azam Aris Perfect Livin’17 Home & Time: 3pm to 10pm Dinosaurs Come Alive CORPORATE Hatten Group Property Lifestyle Exhibition Venue: Eco World Gallery Date: Apr 1 (Sat) Chief Operating Offi cer Lim Shiew Yuin Showcase Date: April 6 to 9 (Thurs to Sun) @ Eco Ardence, Persiaran Time: 10am to 5.30pm ADVERTISING & MARKETING Chief Commercial Offi cer Date: March 30 to April 2 Time: 10am to 9pm Setia Alam, Shah Alam Venue: SkyWorld Property Gallery Sharon Teh (012) 313 9056 (Thurs to Sun) Venue: Putra World Trade Contact: (03) 3342 5522 @ Setapak, 17899, Jalan Ayer General Manager Time: 10am to 10pm Centre, 41, Jalan Tun Ismail, KL Eco World Development Jerneh, Taman Ayer Panas, KL Kingston Low (012) 278 5540 Senior Sales Managers Contact: (012) 719 1818 Contact: (03) 8075 7375 Contact: (03) 4031 2999 Fong Lai Kuan (012) 386 2831 Venue: Permaisuri Imperial City Want complete and up-to-date Organised by SkyWorld Gregory Thu (012) 376 0614 Mall, Jalan Merpati, Miri, Sarawak products? Then, Perfect Livin’ Development, the family- Kamalesan Parama (012) 394 4855 Michael Tan (012) 213 0252 Organised by Hatten Properties, is the place to be. Perfect Livin’ friendly event will feature four Creative Marketing the property showcase will helps homeowners look for an life-sized and life-like roaring, Chris Wong (016) 687 6577 see the developer’s property up-to-date range of technologies snarling and moving animatronic Head of Marketing Support & Ad Traffi c investment personnel share and products to heighten their dinosaurs at its sales gallery. Lorraine Chan (03) 7721 8001 Email: [email protected]

FRIDAY MARCH 31, 2017 • THEEDGE FINANCIAL DAILY TEP 5 COVER STORY

“Despite the downtrend, many owners of these down, foreigners are happily shopping in KLCC. properties appear to be holding strong and have To them, current prices are somewhere at the KLCC high-end high-rise C not reduced their asking prices as seen in the bottom and are worth buying now. Almost all residential rental market asking prices of properties listed for sale. On the my deals closed recently were sold to foreign- ground, however, we find that owners are now ers including those from Indonesia, Dubai and takes a dive TheEdgeProperty.com

more prepared to negotiate and reduce their | China,” she offers. asking prices in order to close a sale,” Tang notes. To her, now is the right time to hunt for good In ECA International’s Accommodation Sur- He adds that owners are usually prepared to value high-end high-rise residential property vey released in January 2017, Kuala Lumpur discuss and drop their prices by between 5% and in KLCC. ranked as the 28th most expensive location 10%, or even more especially in cases where the She believes the market is likely at the bottom in Asia for high-end high-rise rental accom- ’ sellers are desperate to cash out, or when they now. Furthermore, consumer sentiments seem modation. meet a serious buyer. HARIS HASSAN PICTURES BY to be recovering while incoming supply of luxury ECA Internationl has been conducting re- Real estate negotiator Janet Chong who is a Tang: If you are buying a non-landed homes in KLCC is limited. search on accommodation rentals for more T team manager at Hartamas Real Estate (OUG) home for yourself, anytime is “I think the KLCC condo market will start than 20 years. The survey compares rental ac- Sdn Bhd has observed that there are more “val- a good time to buy. recovering albeit slowly from the second half commodation commonly leased by expatriate ue for money” deals in the KLCC luxury condo of this year,” she shares, adding that the market staff in more than 230 locations worldwide. market now. has been levelling up and is merely waiting for ECA International’s regional director (Asia) “Generally, prices of KLCC luxury properties some catalysts to take off. Lee Quane tells TheEdgeProperty.com that KL’s on the secondary market have dropped around high-end high-rise residential rental market 10% to 15% from two years ago,” says Chong who Where is the bottom? has been on the downtrend over the past 12 is a KLCC area specialist. Henry Butcher’s Tang, however, is not as opti- months, partly driven by the fact that the oil She cites for example units at ViPod Resi- mistic. “The prevailing soft market is not expect- and gas industry, which is one of the major dences @ KLCC which used to be sold at an av- ed to recover within this year. So there could be employers of expatriates in Malaysia, was hit erage of RM1,600 psf two years ago. Recently, more buying opportunities coming along later,” by the fall in oil and gas prices. she closed a deal there at RM1,200 psf. Devel- Tang suggests. “This has impacted the number of expa- oped and delivered by Monoland Corporation He cites the Malaysian Institute of Economic triates employed in this sector in Malaysia. Sdn Bhd in 2013, ViPod Residences is a freehold Research (MIER), which projected the country’s As demand has fallen, asking rents have also luxury condominium at Jalan Kia Peng off Jalan economy will be at a slow pace this year, due to fallen,” Quane says. Raja Chulan. The 1-bedroom (635 sq ft) unit was uncertainties both locally and globally, including He explains that in the context of companies selling at RM668,000 or RM1,052 psf during its Chong: We have good stock the new era of a Trump US presidency and Brexit. moving executives around the world, employee launch in 2010. yet very few serious local Investors will continue to be cautious, he opines. mobility normally lags behind an improvement “Of course, some projects are still holding up buyers. “We foresee that the secondary market for in the economy by one to two years. well, but if there is a serious buyer, the seller may luxury apartments/condominiums in KLCC, “It is widely understood that an oil price of not mind giving a bigger discount. Yes, [sellers] and even in the entire Klang Valley, will not US$60 per barrel is the inflection point for the are more realistic now but they are also savvy see any immediate improvement and will drift oil industry — the price at which most activ- investors and certainly know the value of their downwards although we do not see any drastic ities are deemed to be profitable. Therefore, property. They will not go any lower than what fall in prices,” Tang says. the oil price will need to recover to this level [the property value] should be,” Chong notes. “There is no need to rush into buying any- and stay there for a while before we see more However, Chong laments that, “it is useless thing,” he adds. companies sending staff to KL once again,” TheEdgeProperty.com

if only one party [seller] is being realistic but | On the other hand, he stresses that there is Quane adds. not the other.” no “absolute good timing” in buying a property While the fall in rents may slow or cease, “We have good stock yet very few serious lo- especially when it is for one’s own occupation. an upward correction seems unlikely, he says. cal buyers. Most of them are not realistic and are “If you are buying a home for yourself, any- Hartamas Real Estate (OUG) Sdn Bhd team com hoping for more discounts. Some of them offer time is a good time to buy if you come across a manager Janet Chong says generally, rents ridiculously low prices and they would rather property which meets your requirements and for high-end high-rise residential properties

hold off their purchases to put pressure on the MOHD NAZAM MOHD IZWAN matches your expectations of a dream home. in KLCC have dropped 10% to 20% since two seller,” she says. Wong: Things may look If you find the right property that you like and years ago. A healthy property deal and resale market, better by mid-2018. the price is fair and within your budget, do not “Personally, I feel the rental market is doing she adds, should be based on the principle of wait but go ahead and buy it,” Tang concludes. worse than the resale market as more stock has “willing seller and willing buyer”. VPC Alliance Malaysia Sdn Bhd managing been released into the market since the plunge “I will not deny that there are some fire sales. director James Wong also holds a cautious view in oil prices. Oil and gas companies are either Some owners want to let go of their units at way as there is too much uncertainty looming which moving farther away from KLCC to lower expa- below the market price but this is not healthy for may affect the economy. triate accommodation cost, or opt for smaller the resale market in the long term as it will affect “With the Malaysia General Election around units,” she explains. the value of the property. However, most local the corner, buyers are adopting a wait-and-see Rents vary depending on the age of the buyers do not understand the consequences, they attitude,” says Wong. property, location and other aspects (fur- only look at the current benefit,” Chong shares. “Besides, the KLCC luxury condo market will nished/unfurnished, facilities and amenities). According to her, there is a lot of interest com- continue to be soft this year as there is still plen- “I can’t give you an average because it will ing from locals but only a small number of units ty of existing stock in the market which will take not be accurate. However, the rental market are sold to them. some time to be absorbed,” Wong says, adding has never been this bad for a very long time. “While the locals hope prices will go further that things may look better by mid-2018. Some rentals are seeing a drop in rents of up to 40%,” she says, citing a luxury, central- SOURCE: TheEdgeProperty.com SOURCE: TheEdgeProperty.com ly-located residential unit which used to fetch a rent of RM10,000 per month for a mere 1,000 KLCC high-end non-landed residential KLCC high-end non-landed residential sq ft unit. It was recently let out at RM6,500 per property average transaction price property transaction volume month in February. “It used to be a popular accommodation for expats and enjoyed very good rents. However, 1200 100 some owners are losing their holding power and just want to rent out their units even at 94 a much lower rate than before to ease their 1000 1,055 1,084 burden,” Chong shares. 2.7% 1,037 80 959 10% -4.33% 962 800 -7.23% Quane: Kuala 26 60 Lumpur’s high-end 49 66 23 59 high-rise residential on 600 rental market 16 40 has been on the downtrend over the Price psf (RM) Price 400 40 past 12 months.

20 27 200

al 0 0 3Q2012 3Q2013 3Q2014 3Q2015 3Q2016 3Q2012 3Q2013 3Q2014 3Q2015 3Q2016 TEP 6 FRIDAY MARCH 31, 2017 • THEEDGE FINANCIAL DAILY NEWS

NCT GROUP NCT to launch RM450 mil GDV worth of properties in 2017

BY TAN AI LENG opment in the area. Th e modern façade, high ceilings and elevators for the corner PUCHONG: Boutique developer NCT shopoffi ce units, also bring a new look to the Group will be launching properties with town centre. I believe it will attract people’s an estimated combined gross development attention once it’s completed,” he opined. value (GDV) of over RM450 million this Th e development also boasts a 9-storey year, according to its managing director car park which will provide 900 indoor car Datuk Seri Yap Ngan Choy. park bays and a 600-unit outdoor car park Th e launches include the phase 2 devel- for visitors. Th e leasehold development will Artist’s impression of N-City in Sungai Petani, Kedah. opment of N-City in Sungai Petani, Kedah; begin construction in May this year and will the fi nal block of Ion D’Elemen in Genting be completed by 2019. Highlands as well as an aff ordable apart- Yap noted that local demand for shopof- be managed by Best Western Premier. Th e with an estimated GDV of RM150 million. ment project in Salak Perdana, Sepang, fi ces in Sungai Petani remains strong as there hotel portion commenced operations three Th e units will have a built-up size of 850 sq Selangor. are not many commercial developments in months ago. ft while the estimated minimum selling price Th e 20.37-acre N-City integrated com- the town centre. Yap said the 246-room hotel has seen is RM297,500 or an average of RM350 psf. mercial development, which carries a GDV Meanwhile, the RM1.1 billion Ion D’ El- an average occupancy rate of 90% during On the property market outlook, Yap is of RM370.8 million, is the developer’s maid- emen development is a leaseback invest- peak seasons. optimistic that the market will rebound this en foray into the northern region. It off ers ment scheme of serviced apartments on a Divided into four phases, the freehold year as it has been quiet for too long. 157 units of shopoffi ces, a four-star hotel 10.2-acre site in Genting Highlands. It will development has seen 80% of its 792 units “Th e property market has almost bot- as well as a 25,000 sq ft convention cen- taken up since 2013. Property prices have tomed out. Prices can’t go down further tre which can accommodate about 1,000 risen signifi cantly over the years. For in- due to high construction costs and land people. Yap: Local stance, units in the third phase were sold at prices. With the expectation that oil pric- Phase 2 has a GDV of RM123.5 million demand for RM1,350 psf in November 2015 from RM700 es will increase further in 2H2017 and that and comprises 76 units of shopoffi ces to be shopoffi ces in psf in 2013. foreign investment will fl ow in as the ring- launched in the third quarter of this year. Sungai Petani “We plan to launch the fi nal block by the git has weakened, I foresee the market will Priced from RM1.25 million onwards, the remains strong fi rst half of this year with an estimated selling rebound this year,” said the 60-year-old 3- and 3½-storey shopoffi ce units measure as there are price of RM1,400 psf,” Yap off ered. developer who has more than 40 years of 20ft by 70ft with built-ups of about 4,200 sq ft. not many Th e fi nal block of 24 storeys will off er 209 experience in the industry. “We soft launched phase 1 of N-City commercial units with built-up sizes ranging from 400 sq However, he opined that as the market in December last year. The response was developments ft to 870 sq ft. It has a GDV of RM200 million has consolidated during the slowdown good as 60% of the 56 units were taken up. in the town and will be completed by November 2019. over the past two years, consumers who We will officially launch the N-City pro- centre. have been waiting to buy will start to pur- ject in May this year,” Yap told TheEdge- Aff ordable apartments in Sepang chase properties due to current favourable Property.com. NCT Group also aims to launch in June this conditions. “N-City’s concept — the combination of year a 2.75-acre aff ordable apartment project “In major cities, the rising work pop- shopoffi ces and a convention centre as well in its Salak Perdana township development. ulation will continue to support demand as a hotel — is considered new in Sungai Tentatively named 1A Residences, Yap growth as housing is a necessity for city HARIS HASSA N | TheEdgeProperty.com Petani as there is no other similar devel- said, the project will be off ering 500 units dwellers,” he added.

EcoWorld to launch Precinct 2 of Eco Spring in 3Q2017

PICTURES BY ECO WORLD BY SHAWN NG Show Village of Eco Spring. PETALING JAYA: Eco World Development Group Bhd (EcoWorld) is preparing to launch Precinct 2 of its Eco Spring township in Iskan- dar Malaysia, Johor in the third quarter of the year (3Q2017). Phan: Sitting on 60 acres of land, the precinct We have will comprise 360 units of landed homes reserved including cluster homes, semi-dees and more than bungalows, EcoWorld divisional general 18% of land manager Phan Yan Chan told TheEdge- for green Property.com. areas. Precinct 2 has an estimated gross de- velopment value (GDV) of RM600 million. “Th e built-up sizes for the units are around EcoWorld expects to sell the remaining 2,200 sq ft to 5,500 sq ft and the expected units in these projects as well as the units in selling prices are from RM1.38 million to Precinct 1 of Eco Spring within its current fi - RM3.5 million,” he said. nancial year ending Oct 31, 2017, said Phan. Precinct 1 of Eco Spring, which was Eco Spring and Eco Summer have a com- launched in 2014, has been 79% taken up have vast green areas, designated walkways adjacent to Eco Spring — has recorded a 50% bined land area of 613.8 acres and GDV of to date. Th e precinct, which is expected to and bicycle lanes for residents, he added. take-up for Eco Palladium’s 226 retail out- RM5.87 billion. Both townships are easily be handed over to buyers from May this year, “We have reserved more than 18% of lets and shopoffi ces. Prices for these com- accessible via major highways, including consists of 460 cluster homes and semi-dees. land for green areas. Besides, the Tudor mercial properties range from RM616,400 the Eastern Dispersal Link, the North-South Built-up sizes are 3,680 sq ft and 2,360 sq ft, architectural style units will also feature to RM2.8 million. Highway and the Pasir Gudang Highway. respectively. Th e selling prices range from a private garden, swimming pool, Jacuz- Eco Summer’s South Garden and North In addition, amenities like medical cen- RM790,000 to RM2.5 million. zi and many more,” noted Phan. “We are Garden, which off er a total of 1,255 dou- tres, supermarkets, hypermarkets, inter- As in all its township developments, Pre- targeting home upgraders from the sur- ble-storey garden homes, have been 71% national schools, transportation hubs and cinct 2 of Eco Spring will carry EcoWorld’s rounding townships.” sold to date. Prices for the homes range from tertiary education institutions are conven- DNA, as it will be gated and guarded, and Meanwhile, Eco Summer — the township RM790,000 to RM2.5 million. iently available in the vicinity. FRIDAY MARCH 31, 2017 • THEEDGE FINANCIAL DAILY TEP 7 FENG SHUI All you need to know about BY DATUK JOEY YAPP apartments and condos any of us live in apart- ments and condos. And when we go outstation or DATE SELECTION SIZE DOES NOT MATTER overseas for an extend- ed period, we often opt While Yin Qi (passive Small may be an understatement to de- energy) can accumu- scribe some of the apartment/condo units to stay in serviced apart- THE BATHROOM AND THE STOVE Mments. So then, the concern for good late in an unoccupied out there, but luckily feng shui is applicable feng shui in an apartment or condo unit unit for a long period to all units regardless of size. So, as long as Have you noticed how in certain units, the should be raised as most of us want to of time, claims that there are people staying in it, you can defi - stove is placed behind the same wall that benefit from a balanced flow of energy they are harmful to the occupants are nitely “feng shui” it. the toilet bowl is against? This is essentially in the space that we live in. perhaps a little skewed towards the fi c- not a major problem, but to be safe, do your Here are some pointers on how you could titious side. best to avoid it. A stove should always be THE KITCHEN welcome a bright, comfortable and calming The date selection is more important placed against a pure Yin wall. Hence, if the environment in your apartment. Th is guide- to kick start a smooth transition into your The sights and smells in a kitchen may make wall behind your stove is a solid one, it would line can serve as a preliminary feng shui sur- apartment unit. Remember, Yang Qi (active you feel hungry but it is not as appetising to act to provide extra support and assurance veillance of your new serviced apartment. energy) is not solely derived from sunlight have a main door that opens directly into a to you in the feng shui sense. alone — it can stem from the energy of the kitchen. It is not exactly what you would call occupants of the unit as well. a good idea if the kitchen is aligned with the If you have any feng shui-related main door as the health and harmony ele- THE BALCONY questions for Yap, please go to the ments, which the kitchen represents, will be Ideally, the balcony should overlook auspi- Tips section of TheEdgeProperty.com. IT TAKES TIME jeopardised. cious features like hills, a curving river or Feng shui is more than just about propor- lake of clear water. If you spot any negative Datuk Joey Yap is the world’s leading Chi- tion and balance, it is also about time. For views from your balcony, it is advisable for THE BEDROOM nese Metaphysics consultant and bestselling feng shui to take eff ect and to truly impact you to go back to the drawing board. author of more than 160 books which have the occupants of an apartment or condo Refrain from placing your bed in direct align- unit, it will take a period of ment with the bedroom door. Qi that enters sold over four million copies worldwide. He ROOM BEHIND ANOTHER ROOM is chief consultant of the Joey Yap Consulting two to three months. will hit your bed directly, causing disrupted Group and founder of Mastery Academy of Anything less than sleep. Some apartment units, unfortunate- Such unconventional arrangement exists due Chinese Metaphysics. His nearly two dec- that is simply not ly, do not have the luxury of space to allow to an obvious lack of space. Generally, it is fi ne ades of professional consultancy includes signifi cant enough a diff erent arrangement. As such, try your unless there’s an obstruction in the pathway working with Microsoft, Sime Darby, UEM, to bear any eff ects. best to at least steer away from a position leading to the second room. If there’s nothing Prudential and Citibank. He has students where your head directly faces the main door. but a clear path, it should not be a problem. in more than 30 countries.

HRL 2 FRIDAY MARCH 31, 2017 • THEEDGE FINANCIAL DAILY HIGH-RISE LIVING 8 reasons high-rises are climbing the popularity chart

BY PRISCA TEH Over subsequent visits though, in land-precious city domains. be they condominiums, serviced their kins and mates began to see the Incidentally, evolving demo- apartments or versatile suites. hen CK Lau’s Laus have not compromised on their graphics have seen family units family decided living comfort with their relocation. getting smaller, young singles To each his own to shift from a In fact, Lau tells TheEdgeProp- seeking greater privacy, and re- Nevertheless, before you start to spacious semi- erty.com, the list of advantages tirees living more independent- dispute the following discourse, dee house to a have so impressed one couple ly. On the other hand, there are this is just a general review and smaller 1,279 that they are considering a sim- those who prefer to live with their not meant to be a life-and-death Wsq ft condo unit five years ago, ilar move into a condo now that extended family and may go for guide on living options. A satisfi ed relatives and friends wondered their youngest child has left for dual key units. landed householder may possibly if the Laus were having trouble her degree pursuit in the UK. In a corresponding move, vari- cite 8 good reasons their homes are making ends meet. After all, the Indeed, with location being a ous innovative concepts and facil- better grounded because eventu- prevailing culture dictates that pertinent consideration, high-rise ities have emerged from property ally, it all boils down to our needs bigger is better. living has now become the trend developers to cater to the demand, and lifestyle preferences.

Let’s see what benefi t one could derive from living BENEFITS in a high-rise, depending on which segment you are of high-rise living looking at of course.

1. MANIFOLD FACILITIES 2. EASY MAINTENANCE & HOUSEKEEPING 3. AFFORDABILITY

In some of the high-end develop- High-rises generally feature modest built-ups, The inability to own a home ments, developers have been trying but far from being a turn-off , the more manage- is a common grip especially to outdo each other in coming up with able sizes account for a number of perks, as the among those looking to buy The Edge Property the most newfangled or the longest Laus have discovered. First on the list is reduced their fi rst property or home. Malaysia list of features in their high-rise prod- housekeeping. “In the two-storey semi-dee, I did Chances are, they would go for ucts to capture the market. Just like hire part-time cleaners, paying RM400 month- units with smaller built-ups to the latest mobile gadgets, end-users ly for it, but there were still areas the cleaners accommodate their budget. have benefi ted from myriad facilities failed to cover. We also had a big yard. So can Repayment of the mortgage advancing in quality and quantity, you imagine the housekeeping and gardening would also be easier on the such as Olympic-sized, infi nity edge, required? Now, in this smaller dwelling, we can pocket. Besides, a strata high- salt-water swimming pools with wa- manage the chores with help from the kids. We rise unit is easier to rent out ter slides, aqua gyms, futsal courts, also save ourselves the trouble of sweeping our than a landed home and one tree-rich parks, mini-theatres, con- own car porch or cutting our own grass.” could benefi t from the rental. cierge service, and even bowling al- High-rise unit owners can also dispense with It also does not take an Publisher and Group CEO Ho Kay Tat leys. All these enrichments can be en- periodic external refurbishment economist to tell you that the joyed sans the time and eff ort needed such as repainting and roof repairs lower absolute pricing means a to buy, house, repair and maintain which landed home owners must wider market to sell when you them except for a shared fee. spend a sum on. wish to dispose of the property.

The Edge Property Sdn Bhd (1091814-P) 4. CURTAILED HOARDING 5. LOWER FURNISHING COST Level 3, Menara KLK, No 1 Jalan PJU 7/6, Mutiara Damansara, 47810 Petaling Jaya, Selangor, Malaysia Unless you are living in a penthouse or I discovered two deep fryers, a coff ee maker Depending on the size of the unit, you one of those “bungalows-in-the-sky”, in- and a snow ice blender – all unused, besides could end up needing only minimal Th eEdgeProperty.com advertently, the limited space in a condo or dozens of toys, shoes and clothes my chil- furniture and furnishings. In any case, Managing Director/Editor-in-Chief apartment unit compels you to pare down dren have outgrown, and the list goes on.” many new high-rise residences today, Au Foong Yee your possessions – an exercise that frees You would certainly think twice before get- especially the small units, come with you from the trappings of consumerism. ting anything new for the house and would built-ins and even basic kitchen ap- EDITORIAL Lau says, “When I was packing to move, be less tempted to buy it in the fi rst place. pliances, so you just need to move in. Editor Lam Jian Wyn Contributing Editor Sharon Kam Deputy Chief Copy Editor James Chong Senior Copy Editor 6. BROADENED VIEWS 7. PESTS AT BAY 8. HEIGHTENED SECURITY Shanthi Murugiah Writers Rachel Chew, Tan Ai Leng, Natalie Khoo, Shawn Ng, Lum Ka Kay Art Director Sharon Khoh Among the major selling Among the things randomly dotting the views are birds, Design Team Edra, Henry Lee points of high-rise units, es- and this is about the only kind of winged creatures high- For New Launches/Events/ pecially those on the high- rise residents see. Not that this is a weighty plus point, Press Releases/News Tips er fl oors, are almost always but the signifi cant absence of other winged creatures email: [email protected] Tel: 03-7721 8211 Fax: 03-7721 8280 the panoramic vista. Wheth- certainly is. Somehow, bugs don’t seem to fl y higher Email: [email protected] er they overlook a verdant than perhaps four storeys. Creepy-crawlies like rats, Another feature that high-rises park, a scenic lake, the swim- centipedes, millipedes, snails and toads also seem to be are synonymous with is mul- ADVERTISING & MARKETING Head of Marketing and Sales ming pool or the city skyline, more at ease with the earth directly beneath their feet. ti-tiered security. Beyond the Sharon Chew (012) 316 5628 there is a kind of awe-inspir- Lau readily attests to this, saying, “We used to have to hassle of escaping registration at Senior Account Manager ing sense in being high up constantly fi nd ways and means to keep away the mos- the guardhouse, evading security Cecilia Too (012) 319 7666 above a widened horizon. It’s quitoes and fl ies and make sure our gardens did not be- patrols, bypassing access cards, Jayne Law (016) 929 3309 Account Managers akin to being accorded the come the breeding ground for unwelcome eluding CCTVs, housebreakers Jayremy Sim (011) 1669 6039 privilege of seeing the big pic- guests. Once we shifted to this 20th level, are further deterred by the pros- Jocelyn Poo (012) 611 5626 ture – the altered perspective the fi rst thing we notice is pests have been pect of having to cart their loot Marketing Support & Ad Traffi c Madeline Tan (03) 7721 8218 is subconsciously uplifting. kept at bay.” through elevators. email: [email protected]

HRL 4 FRIDAY MARCH 31, 2017 • THEEDGE FINANCIAL DAILY FRI HIGH-RISE LIVING HIGH-RISE LIVING BY SHAWN NG set to soar

s land costs in urban centres like Kuala Lumpur, Penang and Johor Bahru have risen significantly due to land scarcity, property developers have little choice but to go vertical and construct high- rise projects, be they residential, com- Amercial or integrated developments. “Within the context of the current soft market conditions where aff ordability is a key consider- ation for both house buyers and investors, devel- opers have been focusing more on smaller-sized units where the unit price is less prohibitive,” Henry Butcher (M) Sdn Bhd COO Tang Chee Meng tells Th eEdgeProperty.com. A little bit further away from urban centres, new township developments still off er mainly landed homes, but within the city there has been a growing trend of small-sized units within high-rises, he says. “Studio units, 1-bedroom and 2-bedroom units — we are seeing more of these within the develop- ment mix of high-rise residential projects located within urban centres. “Th ese high-rise homes cater to fi rst-time home- buyers such as young singles and new couples as well as small families and elderly people whose children have all left the nest,” Tang adds. According to data from the National Property Information Centre (Napic), the total existing sup- ply of non-landed/high-rise residential units in the country, including low-cost fl ats, fl ats, apartments and condominiums, stood at 1,422,560 units as at SOURCE: THE SKYSCRAPER CENTER HARIS the third quarter of 2016 (3Q2016), which translates to about 28.99% of the total existing residential stock of 4,906,722 units in the country. Do you know THE COMPLETED If the existing supply was to include commer- cial-titled Small-offi ce Home-offi ce (SoHo) units TALLEST RESIDENTIAL and serviced apartments which totalled 89,359 units, the fi gure would rise to 1,511,919 units. Looking ahead, the future supply of all non-land- buildings in the world? ed residential properties (not including SoHos and serviced apartments) stands at 523,645 units as at 3Q2016 consisting of incoming supply of 306,554 1 2 3 4 5 units and planned supply of 217,091 units. Meanwhile, the future supply of SoHos and ser- 432 Park Avenue Princess Tower 23 Marina Burj Mohammed Elite Residence viced apartments are 269,507 units in total as at New York City, US Dubai, UAE Dubai, UAE Bin Rashid Dubai, UAE 3Q2016, and comprises incoming supply of 164,113 425.5m / 1,396ft 413.4m / 1,356ft 392.4m / 1,287ft Abu Dhabi, UAE 380.5m / 1,248ft units and planned supply of 105,394 units. Floors: 85 Floors: 101 Floors: 88 381.2m / 1,251ft Floors: 87 all Nawawi Tie Leung Property Consultants Sdn Bhd Completion: 2015 Completion: 2012 Completion: 2012 Floors: 88 Completion: 2012 com managing director Eddy Wong points out that the Completion: 2014 future supply of high-rise properties shows a signif- ove icant number especially considering the prevailing 6 7 8 9 10 non weak market sentiment amid tight credit conditions. by “Th ere will be a signifi cant pressure on prices The Marina Torch Q1 Tower HHHR Tower Ocean Heights Cayan Tower RM to adjust, though the actual impact on the various Dubai, UAE Gold Coast, Dubai, UAE Dubai, UAE Dubai, UAE sub-markets would vary depending on locality, de- 352m / 1,155ft Australia 317.6m / 1,042ft 310m / 1,017ft 306.4m / 1,005ft had mographics and income levels,” he says. Floors: 86 322.5m / 1,058ft Floors: 72 Floors: 83 Floors: 73 hig Interestingly, based on the Malaysian House Completion: 2011 Floors: 78 Completion: 2010 Completion: 2010 Completion: 2013 4Q Price Index, the high-rise residential sub-sector has Completion: 2005 sig registered the second highest price growth among

DBOX,CIM GROUP & MACKLOWE PROPERTIES FRIDAY MARCH 31, 2017 • THEEDGE FINANCIAL DAILY HRL 5 HIGH-RISE LIVING

SUHAIMI YUSUF | TheEdgeProperty.com SOURCE: TheEdgeProperty.com Transaction value of non-landed homes in KL continue to rise but volume is decreasing Tolerance and 600 5,000 Transaction volume (lhs) Average price psf (rhs) (RM) understanding 500 4,000 400 ensure harmony 3,000 300 2,000 High-rise living is becoming a norm as 200 increasingly more people are moving into 1,000 100 high-rise homes nowadays.

0 0 However, when large groups of people 2Q1Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q live close together and share the same fa- 2012 2013 2014 2015 2016 cilities, there may be some discomfort and strain due to the differences in age groups, cultures and behavioural preferences. Transaction value and volume of non-landed Hence, Nawawi Tie Leung Property Con- homes in Selangor follow a similar trend in KL sultants Sdn Bhd managing director Eddy Wong says the residents should have toler- 400 8,000 Transaction volume (lhs) Average price psf (rhs) (RM) ance and understanding plus civic-minded- ness to ensure a happy and pleasant living 6,000 300 experience for everyone in the community. This is especially crucial when dealing with 4,000 200 disputes that may arise. According to Henry Butcher (M) Sdn Bhd 2,000 100 COO Tang Chee Meng, one way to overcome the challenges of living in high-rises is to 0 0 outsource and employ a good and effective 2Q1Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q manager who is firm, fair and able to secure 2012 2013 2014 2015 2016 everyone’s cooperation while implementing rules and policies according to what has SOURCE: NAPIC been set by the Joint Management Body or Malaysia house price index by house type Management Corporation. 300 The common problems faced when stay- All houses High-rise (non-landed) Semi D ing in high-rises involve getting all resi- 250 Terraced Detached dents to pay their maintenance fees on time; and residents who lack civic-consciousness 200 and a sense of pride and ownership of the

Index 150 common facilities like the lifts and recrea- tional equipment. 100 There could also be difficulties getting the full cooperation of residents in follow- 50 ing house rules like keeping pets, parking 200120002002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 3Q2016 of vehicles in the designated bays and ad- hering to security arrangements, Tang says. Average high-rise unit price in Malaysia (RM) Hence, he urges every owner to play their part in observing house rules and paying 350,000 their maintenance fees and sinking fund in full and on time, otherwise the management 300,000 and maintenance of the property will dete- riorate due to lack of funds and in the long 250,000 term this could have an adverse impact on the property’s value. 200,000 In addition, adequate and clear commu- nication between the management team and the residents is also very important, 150,000 1Q 3Q 1Q 3Q 1Q 3Q 1Q 3Q 1Q 3Q 1Q 3Q he adds. 2011 2012 2013 2014 2015 2016

NTER HARIS HASSAN | TheEdgeProperty.com NAWAWI TIE LEUNG PROPERTY CONSULTANTS umes of non-landed residential properties in KL in infrastructure and accessibility especially areas and Selangor had declined 68.33% and 70.07% re- along the mass rapid transit (MRT) lines as well as spectively year-on-year, to 623 and 1,196 transac- the recent light rail transit (LRT) extensions. tions, respectively. Based on his observations of new launches over the past year, Tang says smaller-sized units Tang: Wong: Looking for good buys with built-ups of less than 1,000 sq ft and priced Smaller-sized The future Wong notes that the current slowdown in the prop- in the RM300,000 to RM600,000 price segment units appear supply of erty market is a good opportunity to look for good appear to have recorded the best sales in the to have high-rise buys, as developers are more amenable to off ering Klang Valley. recorded the properties good incentives to move their inventory. best sales shows a He advises investors to consider the key factors Outlook in the Klang signifi cant such as location, connectivity and accessibility to In the mid to longer term, the market for non-land- Valley. number. amenities when selecting what to buy. ed residential property in KL and Selangor looks “High-rise developments which are centrally lo- positive, says Wong. He believes the market will cated, with good connectivity and with easy access be supported by its young demographic and the all residential property types from 2000 to 3Q2016, to amenities such as shopping, dining and enter- growth in household incomes. coming in next after detached houses. tainment, are very well sought-after. Meanwhile, Tang concurs. Although demand may be tempo- According to data from Th eEdgeProperty.com, the properties around the RM500,000 price point rarily disrupted due to the slowdown in the econo- over the years, the average transacted price of is currently very popular given the tight credit con- my, tighter credit availability and poorer consumer non-landed residential properties in KL had risen dition which places a constraint in the purchasing sentiments, the future will see high-rise residences by RM176 or 49.72% to RM530 psf in 3Q2016, from power among homebuyers,” he says. becoming a more popular choice among develop- RM354 in 1Q2012. Meanwhile, Tang says investors should look for ers and homebuyers. Similarly in Selangor, the average transacted price areas that off er good growth potential. In the Klang “As land cost is not likely to go down, we foresee had shot to RM313 psf as at 3Q2016, RM113 or 56.5% Valley, such areas include Cheras, Kepong, Setapak, that high-rise residential properties will remain higher than RM200 psf in 1Q2012. However, since Wangsa Maju, Ampang, Bukit Jalil, Puchong, Old the aff ordable option for residents in the main ur- 4Q2014, the average transacted price has seen no Klang Road and Bandar Malaysia, he off ers. ban centres,” Tang says, adding that this high-rise signifi cant growth in Selangor. Th ese areas, he adds, are able to cater to the mid- residential property development trend will also Meanwhile, as at 3Q2016, the transaction vol- dle income group and will see vast improvements likely continue. HRL 6 FRIDAY MARCH 31, 2017 • THEEDGE FINANCIAL DAILY HIGH-RISE LIVING Exsim thrives on building unique projects in prime locations

PICTURES BY KENNY YAP | TheEdgeProperty.com EXSIM DEVELOPMENT BY RACHEL CHEW Suites’ units. We do not have any compartments in each unit except xsim Development Sdn the washroom, so it provides fl exi- Bhd head of planning bility in space usage like no other,” and development (res- Siew explains. Not only can unit idential/commercial) owners work but also relax here, Michael Yam strongly she adds. believes that high-rise Th e single tower Ceylonz Suites Eliving is a trend that will soon be- houses 442 studio offi ce units with come a norm in the major cities of two standard layouts of 384 sq ft and Malaysia. 411 sq ft, as well as a dual-key unit “If you look at our city’s housing at 578 sq ft. Th e selling price starts planning, there is no doubt that we from RM619,760. are heading in that direction [high- Carrying a gross development rise living]. Most of the aff ordable value of RM352 million, the devel- housing in the city are vertical. I be- opment was officially launched lieve this is the way to go,” he says. in October 2016 and some 45% of Nevertheless, he does not deny the units have been taken up as at that high-rise housing is current- 01 March 2017. ly facing some challenges due to Siew believes connectivity and the property market downturn in convenience are two elements that the past two years, such as a slower should not be compromised when take-up and lower occupancy rate. planning a sustainable high-rise “Th e high-rise residences are not building. the only ones that are aff ected. It is “Being car-free is also going to be the overall property market due to a future trend, hence the location of factors that are out of our [develop- a building is crucial for its sustain- ers’] control, such as the economic ability. Th is is also why we are very slowdown, the weakening of the [mindful] about the location of our currency and reduced foreign di- projects and the surrounding amen- rect investment. We are a developer ities that complement the product,” with high-rise developments as our Siew notes. core, so when we cannot change Located on Persiaran Raja Chu- the environment, we change our lan right smack in Kuala Lumpur’s strategy,” Yam notes. central business district, Ceylonz Exsim started off as an industrial Suites is surrounded by corporate property developer in 2009. It then offi ces, shopping malls, hospitals, ventured into high-rise residential schools and colleges. A bus stop projects the following year which 02 03 is within a short walking distance gradually became its staple. It will while Masjid Jamek LRT (light rail be handing over its fourth high-rise transit) station is about 10 minutes residential project, Th e Petalz Res- on foot. idences @ Old Klang Road in June 01 Yam: Exsim has always held Yam foresees high-rise living to this year. on to its strategy to ‘build the be more popular considering the Previously, Exsim had delivered right product with the right lifestyle facilities provided and better Twin Arkz @ Bukit Jalil (complet- pricing in the right location’. security. “Th ere are also people who ed mid-2016), The Leafz @ Sun- choose to live in a condo because gai Besi (completed end-2015) and 02 Siew: We have put extra it is easy to take care of,” he notes. Th e Treez @ Bukit Jalil (completed eff ort into the space planning On the current market slowdown, end-2013). of Ceylonz Suites’ units. Yam says: “I think the worst is over Launched in 2013, The Petalz and the market is slowly picking up. is a two-block freehold residential 03 An artist’s impression of However, I do not expect a V-shaped project. It has a total of 565 condo Ceylonz Suites. bounce back for high-rise residential units with built-ups ranging from projects or even the overall proper- 895 sq ft to 1,256 sq ft. Th e launch 04 Ceylonz Suites features 442 ty market. It should be a slow but price was from RM650 psf. studio offi ce units. steady journey of recovery. I think Some unique facilities of this de- 04 it is a healthy correction from the velopment are a boxing ring, chil- previous property boom,” Yam notes. dren’s enrichment centre, teppa- buyers now. From our observation, Suites @ Persiaran Raja Chulan, these leisure facilities in Ceylonz Given the lethargic market, Yam nyaki cuisine corner, wavy canal, local buyers still have pretty strong Exsim has come up with a studio Suites, we hope to provide our buy- says Exsim will be more cautious in indoor lawn area, Petalz canopy, buying power, but they are very cau- offi ce development that is akin to ers and occupants with good work- making new development decisions. sprint track and four pools. tious in picking the right product a SoHo (Small-offi ce Home-offi ce) life balance, conveniences and life- “We are taking the strategy of “Location is our fi rst consider- and are price sensitive,” Yam says. development. style elements. We are trying to fi ll a launching one project at a time and ation when planning a project and Ceylonz Suites features a full gap while diff erentiating our project being more detailed in doing market because we prioritise developing Ceylonz Suites range of offi ce facilities such as a from others,” Yam off ers. research,” he says. in prime areas, high-rise develop- According to Yam, “being differ- conference room, meeting rooms, Unlike ordinary offi ce units, each Meanwhile, he reveals that Exsim ments have become our bread and ent” is often also one of the keys to waiting lounge, open-air café and unit in Ceylonz Suites has its own will be launching Millerz Square, a butter. As everyone knows, there are a project’s success. business lounge. washroom and pantry equipped mixed development comprising an only pockets of land left in the city “We do not want to build anoth- However, offi ce facilities are not with a kitchen stove and hob and offi ce tower, serviced apartments centre,” Yam shares, adding that all er ordinary building that cannot all it has to off er. Th e development is cabinets. and shoplots in Old Klang Road, of Exsim’s high-rise projects are lo- shout out loud. We want to build also equipped with leisure facilities, Meanwhile, Michelle Siew, Ex- this June. cated in the Klang Valley. something special and remarkable. such as a sky pool, sports lounge, sim’s head of marketing and cor- “We have a couple of pockets of He explains that Exsim has al- We want our developments to be launderette, gourmet kitchen, sky porate communications, says the land in OUG and Jalan Yap Kwan ways held on to its strategy to “build diff erent like unique art pieces so gym, rooftop garden, pocket gar- units are designed to cater to young Seng. We are also looking for more the right product with the right pric- that they will be appreciated. Th is dens and a sky barbecue pavilion. entrepreneurs. land and do not rule out the possi- ing in the right location”, even dur- is also the motivation that pushes “Living and working in the city, “Young entrepreneurs are more bility of expanding beyond the Klang ing challenging times such as this. us to continue to be creative and we all know how time consuming it fl exible with their time and space, Valley and building more high-rises “We still believe in our core strate- innovative,” he notes. is to get from one point to another hence we have put extra eff ort into where there are good opportunities,” gy. However, we focus more on local In its latest development, Ceylonz just for one activity. By placing all the space planning of Ceylonz Yam concludes.

HRL 8 FRIDAY MARCH 31, 2017 • THEEDGE FINANCIAL DAILY HIGH-RISE LIVING Mayland evolves with Hampton Damansara

PICTURES BY MAYLAND BY LUM KA KAY plot is the last one in the Hartamas area to be allowed for projects of up fter a hiatus from to 27 storeys high. launching new pro- “Th is development was original- jects, Malaysia Land ly planned to be marketed as Her- Properties Sdn Bhd mitage. However, due to the keen (Mayland) had intro- interest of international hospitality duced a very different enterprise Dorsett Group to take Aproduct from its usual offerings in over this development, we decid- the form of Hampton Damansara ed to develop it under the Dorsett serviced apartments at Country brand,” Woo discloses. Heights Damansara in Kuala Lum- Th e strategic location, which of- pur last November. fers an amazing view of Istana Nega- “Hampton Damansara is a ra, has given Dorsett the confi dence new product of Mayland after to undertake the construction of the a long gestation period without project even without putting up any any launches for the past three units for sale up to now. years. [Hampton Damansara] is Woo says Dorsett Hartamas is our evolution from the past,” says targeted at young professionals who Mayland managing director Datuk are looking to live within the vicini- Kevin Woo. ty of Sri Hartamas and Mont’Kiara. In the past, the developer had Th e serviced apartment units will focused on building small units have built-ups ranging between 474 including studio apartments of sq ft and 1,378 sq ft. He adds that around 500 sq ft. After a while, it the super structure of the building realised that the profi le of buyers has been completed and the interi- who came in were mostly investors or design works have already been rather than owner-occupiers. assigned. It is slated for completion “But now, with Hampton Da- by this December. mansara, we hope to shift from the In the near future, Mayland plans investor market to a hybrid of both to develop more high-rise residen- investors and owner-occupiers by An Olympic-sized salt water swimming pool will be one of the 46 lifestyle facilities. tial projects in collaboration with building bigger units,” says Woo. Dorsett Hospitality International, Spanning across a 3.2-acre free- LOW YEN YEING | TheEdgeProperty.com says Woo. hold site in Country Heights Da- sia, along with an Olympic-sized “We are not the fi rst developer mansara, Hampton Damansara salt water swimming pool and an to do this. Th rough the hotel net- has a gross development value aqua gym. work, we can leverage on getting (GDV) of over RM700 million. It Each unit at Hampton Da- guaranteed rental returns for our comprises 700 serviced apartment mansara will also come equipped investors and buyers. With repeated units spread over two 43-storey with home appliances including customers who are benefi ting from towers, with prices starting from a refrigerator, washing machine, good guaranteed rental yields, this RM750 psf. Th e majority of units air-conditioners for all bedrooms will help orchestrate better sales for will have 2+1-bedroom layouts and living room, a kitchen hood us,” he says. with built-ups of between 924 sq and hob, plaster ceiling, built-in ft and 1,426 sq ft. microwave oven and kitchen cab- More to come Based on feedback from May- inets. As a forerunner in building serviced land’s customers, the develop- “Another thing that we want apartments, Mayland was incorpo- er found that 2-bedroom units to prioritise at this development rated in 1995 with property devel- are the preferred type as smaller is security. So, we are attempting opments across the Klang Valley 1-bedroom apartments may be a to do a seven-tier security system and Johor. It is planning to launch bit challenging to live in. for our residents at Hampton Da- properties worth RM2.3 billion in “Hence, we are now not only mansara,” says Woo. Woo: With Hampton Damansara, we hope to shift from the investor market to a hybrid GDV this year. focusing on bigger units, but also The construction for Hamp- of both investors and owner-occupiers by building bigger units. In August, Mayland will be look- on the facilities to promote bet- ton Damansara has begun and ing to launch phase 4 of Royal Gar- ter living and a healthier lifestyle. the project will take four years to sara is surrounded by many amen- Dorsett Hartamas den comprising 600 condo units at For the fi rst time in Mayland, we complete. Th e project, adds Woo, ities including IKEA Damansara Meanwhile, on its other upcoming Sri Putramas, Jalan Kuching, and are spending RM5.8 million on will adhere strictly to Singapore’s , 1 Utama Shopping Centre, Th e projects, Woo reveals that Mayland Solaris Esplanade comprising 426 landscaping,” he tells Th eEdge- Construction Quality Assessment Curve, SJK(C) Puay Chai, SMK is looking to launch Dorsett Har- units of three-storey terraced homes Property.com. System to ensure its construction Bandar Utama, the British Inter- tamas in May 2017. Th e serviced in Semenyih. In October, it plans Among the 46 lifestyle facili- standard. national School, KPJ Damansara apartment project located in Har- to launch Sierra Green (which is ties residents can enjoy is the fi rst Besides being conveniently Specialist Centre, ParkCity Medical tamas, Kuala Lumpur has an esti- next to IGB International School) crystal salt sauna in a serviced connected to established roads Centre, Bandar Utama Golf Course mated GDV of RM600 million. which comprises 405 condo units apartment development in Malay- and highways, Hampton Daman- and Valencia Golf Club. According to Woo, the 5.42-acre in Sungai Buloh. On the One Stonor serviced apartment project at Persiaran Stonor near KLCC, Woo notes that this project is being marketed in China and Hong Kong while do- mestic sales are expected around May. With homebuyers getting smart- er and more discerning when it comes to evaluating investment returns, Woo says he is attempting to ease property ownership by re- ducing the maintenance fee to its minimum. “If you look at our past records, most of our projects sold have ex- ceeded capital gains of more than 50%. So, in terms of capital gains and value creation, we are very The 3.2-acre Hampton Damansara has a GDV of more than RM700 million. Hampton Damansara comprises 700 serviced apartment units. good,” he declares.

HRL 10 FRIDAY MARCH 31, 2017 • THEEDGE FINANCIAL DAILY HIGH-RISE LIVING Setia stamps its mark in Klang with Trio

HARIS HASSAN | TheEdgeProperty.com PICTURES BY S P SETIA BY LUM KA KAY

P Setia Bhd’s mixed development known as the Trio by Setia will mark its debut in Klang, Selangor. The developer currently Shas 30 ongoing property projects across Malaysia and overseas but this would be its first in Klang. The developer’s divisional general manager for niche de- velopments Paul Soh Hee Pin says S P Setia is always on the move to expand its brand and presence in new locations with strong growth potential. “Bukit Tinggi in Klang defi nitely has a lot of potential. It is a very vibrant area so I think to establish our brand here is very exciting for 01 S P Setia. “When we came across this due to its strategic location in Buk- According to Soh, the piece of land, we saw that it was ti Tinggi. Th e project lies 2.5km non-landed market in Bukit Ting- very accessible as it is just adjacent away from AEON Bukit Tinggi gi is slightly different from other to Jalan Langat which is the main Klang, 1.2km from Tesco Klang areas such as in Kuala Lumpur arterial road that runs through and 23.7km from Bandar Sunway. city centre. There are not many Klang town to Bukit Tinggi. Other amenities in the vicinity in- such high-rise living projects with “Th ere is also a separate sec- clude Hospital Besar Klang, Anda- full quality lifestyle facilities in ondary access at the back of the las Medical Centre, Hin Hua High the area. Trio has all that and yet development so residents will also School, SMK Convent and Regent able to offer units at prices that be able to access the development International School. are affordable, he says. from the back. Th is dual accessi- Accessibility will soon be given Among the lifestyle facilities bility is a very important factor to a boost with a proposed Light Rail at Trio are a swimming pool, in- this development (as it could re- Transit 3 station nearby. Trio is cur- door games room, shaded pavilion, duce traffi c congestion),” he tells rently accessible via the Shah Alam sunken deck, residents’ communi- Th eEdgeProperty.com. Expressway, North-South Express- ty garden, a gym and a multi-pur- Sitting on a 5.49-acre of free- way Central Link, Federal Highway pose hall. hold land, Trio by Setia has a and New Klang Valley Expressway. Th e fi rst phase [fi rst tower] of gross development value (GDV) of “We are using this piece of land Trio carries an aff ordable pricing RM571 million and will comprise to build a mainly residential de- that will be attractive for fi rst-time 914 units of serviced apartments velopment with a complementary homebuyers, Soh off ers, adding across three towers — hence its commercial component as this that Trio by Setia is one of the par- name — as well as 42 three-storey form of integrated development ticipating projects for the develop- retail units. provides a more complete life- er’s 10:90 scheme whereby pur- As of now, over 50% of the fi rst style proposition to residents as chasers pay only 10% upon signing tower comprising 426 serviced opposed to a purely residential the Sale and Purchase Agreement 02 apartment units have been booked development. and pay the balance 90% after the ahead of an offi cial launch on April “The sub-commercial compo- completion of the property. of not only property developments Eco Park in Shah Alam, the devel- 8. Th e built-up sizes of the units in nent faces the main road for better Construction for Trio will com- but also the lifestyle trend for those oper also off ers niche lifestyle high- the fi rst tower range from 656 sq visibility and accessibility, plus it mence in 2Q2017 with targeted who are already living or looking rise residential projects. Among ft to 1,216 sq ft with prices from is physically separated from the delivery by 4Q2021. to live in cities. them are Setia Seraya in Presint RM412,000. serviced apartments for increased With population growth and “I think nowadays, people are 15, Putrajaya; Setia Sky Seputeh Soh is confi dent that Trio by security but still near enough for urbanisation, Soh believes high- already talking about vertical cit- in Taman Seputeh, KL; Setia Sky Setia will do well in the port city residents,” he says. rise residences will be the future ies and as the population grows in 88 in Johor Bahru city centre; and urban areas and with more peo- Setia Sky Ville in Jelutong, Penang. ple migrating to cities, land for On the market outlook, Soh 01 Soh: The fi rst phase [fi rst development in urban areas will notes that although the market tower] of Trio carries an be scarce. Th is means that devel- sentiment has not been as strong aff ordable pricing that opers don’t have much land for as a few years ago, “property prod- will be attractive for fi rst- large-scale landed developments. ucts are still selling”. time homebuyers. “So moving forward, in urban- “Th e market goes in a cycle and ised areas, it will be common for urbanisation is an ongoing thing. 02 Over 50% of the fi rst the younger generation to be living Property ownership is something tower have been booked in mostly high-rises. [Moreover] that people will always need, it’s ahead of an offi cial some people may prefer high-rise just that sometimes the demand launch. living compared to landed homes may dip or rise. in terms of security, safety and “Property development is very 03 Soh says Trio will have maintenance — because there location-specifi c and you cannot a second access at the are people who will carry out the just take the previous develop- back of the development, maintenance for you,” he says. ment model and replicate it on a so traffi c congestion is S P Setia was incorporated in diff erent location. Market trends minimised. 1974 and has ongoing property are very active and quick so you projects across Malaysia and over- need to be spot on to catch the seas including Vietnam, Australia, trend for that particular area. Singapore, China and the UK. As “So for us, we are bringing Bukit of December 2016, the developer Tinggi to the next level by introduc- has 5,218 acres of undeveloped ing the lifestyle of the city centre landbank, with a GDV of RM76.48 to this area. I believe such lifestyle billion. living will progressively move to- Besides its award-winning town- wards the fringes of the Klang Val- 03 ships such as Setia Alam and Setia ley,” he says.

HRL 12 FRIDAY MARCH 31, 2017 • THEEDGE FINANCIAL DAILY HIGH-RISE LIVING Paramount to bring landed living quality to multi-storey projects

MOHD IZWAN MOHD NAZAM | TheEdgeProperty.com BY RACHEL CHEW

tepping into the scene as a town- ship developer in the northern region some 40 years ago, Par- amount Property, the property development arm of Paramount Corp Bhd, has since become a Sdeveloper that offers a broad spectrum of products. “As cities mature and population increas- es, landbank becomes scarce and expen- sive, leading to the growth of and demand for high-rise developments. As the people’s developer, it is natural for Paramount to meet this need by expanding into this type of developments,” Paramount Corp’s group chief executive officer Jeffrey Chew tells Th eEdgeProperty.com. Chew: We Paramount’s current portfolio ratio of never want our products is about 66% landed and 33% high- customers to rise properties, including its commercial compromise on developments. But Chew expects its prop- their comfort, erty business core to gradually shift to 30% be it a landed or landed residential and 70% commercial. high-rise home. “Over time, we cannot go too extreme towards either end (landed or non-land- ed). We will try to make sure there is a min- Th ere will be 389 serviced apartment units “IKEA is a very strong brand that has we would also like to give a sense of space imum of 30% landed residential, while the with slightly smaller built-ups than the pre- drawn buying interest, but it is not the only and volume to our high-rise customers. We remaining 70% will be commercial, which vious phases to make the absolute prices attraction. Th ere is also Columbia Hospital, never want our customers to compromise could be landed, multi-storey or high-rise, even more aff ordable. We will price them Design Village Mall, KDU campus, factories on their comfort, be it a landed or high-rise to cater to the demand from diff erent buy- above RM600 psf,” Chew says, adding that of multi-national corporations and many home,” Chew says. ers,” says Chew. built-ups for the last phase range from 720 big property players who are developing the “When we have to adjust the built-up, we sq ft to 1,045 sq ft. place as the third satellite city of Penang. make sure the density is not high, so residents New launches this year Moreover, Batu Kawan is just off the second will not feel crowded. For example, we cap Th is year, Paramount will be launching prop- Education city in Batu Kawan, Penang Penang Bridge, which is a very strategic lo- the lift ratio to a maximum of 16 units shar- erties totalling RM650 million in gross de- Meanwhile, the developer also targets to cation,” Chew explains. ing one lift. We do not want people to queue velopment value (GDV) where 46% of the launch the second phase of Utropolis Batu He also attributes the strong take-up of for lifts to get home. Going home should be total GDV will be integrated high-rise devel- Kawan this year. Th e second phase will con- high-rise developments to the changing as easy as parking your car at the door step, opments, 36% landed residential and 18% sist of serviced apartments, but details have trends in Penang mainland. right?” he shares. landed commercial developments. yet to be confi rmed. “Penang mainland is dominated by land- Paramount also understands the im- Among the planned new launches are Se- Th e 44.3-acre Utropolis Batu Kawan de- ed properties, which are relatively aff ordable portance of privacy in high-rise living and kitar 26 Enterprise @ Shah Alam (community velopment has a GDV of RM1.8 billion. An- compared with those on the island. Howev- hence it avoids long corridors and central retail centre); Atwater @ Section 13, Petaling chored by a new fl agship campus for KDU er, we do not see diffi culties in selling our lift lobbies. Jaya (senior living concept mixed develop- Penang University College, it comprises high-rise projects there. Some of the locals ment); a new phase of Sejati Residences @ residential, commercial, retail and hotel here want some lifestyle and security fea- Catering to senior active living Cyberjaya (luxury landed property); a new components. tures for their homes, which most of the Moving forward, Chew foresees smaller units phase of Greenwoods @ Salak Perdana (af- “We have just launched our fi rst project existing landed properties do not provide,” in urban areas and the concept of senior fordable landed property); a new phase of in the fi rst phase comprising strata shops Chew says. active living to be the trend. Utropolis Glenmarie (condominium block); with serviced apartments above. Out of 612 Although he thinks high-rises will not “Look around Klang Valley. It is very diffi - a new phase of Utropolis Batu Kawan (con- apartment units, 502 have been taken up. likely replace demand for landed homes in cult to get a sizeable land plot to do aff orda- dominium block); and a new phase of Bukit We have also achieved 65% take-up for the Penang, it will serve as an alternative choice. ble landed property. With rapid urbanisa- Banyan @ Sungai Petani (landed residential). shops. We are very pleased with the strong tion and as more households are formed, take-up, despite the soft property market,” From landed to high-rise projects the smaller and more aff ordable high-rise Utropolis Glenmarie Chew says. For its high-rise residential projects, one of units will continue to dominate the property Utropolis Glenmarie is Paramount’s fi rst He attributes the strong take-up to the the developer’s design principles is space market trend. integrated development and it marked the future development potential of Batu Kawan functionality and practicality. “Our senior population is growing. Very fi rst time it combined its property develop- which will soon see the opening of the fi rst “Because we come from a strong back- soon, Malaysia’s ageing population will ac- ment and education businesses together in IKEA outlet in the northern region. ground in landed residential properties, count for 10% of the total population. I fore- one location. see senior active living concept in high-rise “We are proud of this project and hope PARAMOUNT CORP developments to be in demand in the near to duplicate its success at Utropolis Batu future,” he notes. Kawan,” Chew enthuses, referring to their To cater to the trend, Paramount aims to project on Penang mainland. launch its fi rst senior active living concept Modelled as a university metropolis, the high-rise development in Section 13, Pet- 21.7-acre Utropolis Glenmarie is a self-con- aling Jaya in July this year. Named Atwater, tained, self-sustaining integrated devel- it is an integrated development comprising opment. It is anchored by KDU Universi- two blocks of senior-friendly residences, ty College, Paramount’s fl agship campus two blocks of offi ce towers and retail shops. complemented by 1,484 serviced apartment “Our design theme for the residential units, retail, hotel and offi ce components. block is senior-living friendly. It will have It has a GDV of RM888 million. some special design features such as no-split The first phase of the serviced apart- fl ooring, large toilet entrances for wheelchair ments has been completed and delivered Utropolis access, lower lift buttons and many more,” by end-2015, while Phase 2A will be deliv- Glenmarie is the Chew off ers. ered in 3Q2017. fi rst integrated With a 40-year reputation under its belt, “We will be launching the hotel compo- development Paramount has built a strong brand as a nent as well as the fi nal phase of the resi- by Paramount landed property developer. Now, it hopes to dential block by the second half of this year. Property. do the same with its non-landed properties.

HRL 14 FRIDAY MARCH 31, 2017 • THEEDGE FINANCIAL DAILY HIGH-RISE LIVING Sime Darby Property creating a modern skyline on the eastern parts of KL

PICTURES BY SIME DARBY PROPERTY BY NATALIE KHOO Th ere is also the much-antici- KL East is a 153-acre fully pated Melawati Corporate Centre eing able to wake up to integrated residential, lifestyle featuring fl exible offi ce and choice fresh air and lush forest and commercial enclave in the retail spaces. “Both the mall and views every morning eastern part of KL developed the offi ces are targeted for com- and then going to work by Sime Darby Property pletion in June this year,” Mohd using the LRT just a few Shahreza says. minutes away sounds “Th e future is exciting for Mela- Bfar from reality in Malaysia’s cap- wati. Th e 900-acre township is lo- ital city of Kuala Lumpur. cated less than 15km from KLCC. However, at Sime Darby Prop- Melawati is in the middle of an ur- erty’s KL East, a 153-acre fully in- ban redevelopment initiative with tegrated residential, lifestyle and the area earmarked for residential, commercial enclave in the eastern commercial, retail and lifestyle de- part of KL, one could possibly have velopments,” he adds. the opportunity to enjoy living in a Sime Darby Property is also de- green environment with great ac- veloping SERINI Melawati, the lat- cessibility. KL East stands out in the est and tallest high-rise residential area with its grand backdrop of the off ering featuring two 38-storey life- world’s longest quartz ridge. style towers with arguably the best With nature and greenery in views in Melawati, located less than mind, it is the only development 1km from Melawati Mall. in KL city with a facility dedicated to Both towers off er a total of 528 rainforest regeneration and the pro- units comprising four types of lay- motion of sustainable living — with outs. Th ese 1+1, 2, 3 and 4+1 bed- more than 50% of the development room serviced apartments come in dedicated to green open spaces. built-ups ranging from about 630 sq KL East is also known as an in- urban lifestyle,” says the head of ft to 1,500 sq ft. Facilities in SERINI tegrated transit adjacent develop- township of KL East for Sime Darby Melawati include a gym, open roof ment (TAD) due to its proximity Property, Mohd Shahreza Maswan. yoga area, infi nity swimming pool, to the Gombak Integrated Trans- Each unit off ers spacious open- playground, spice garden, function port Terminal (GITT) comprising plan living spaces with unique rooms and barbecue area. the Gombak Light Railway Transit ultra-sized balconies spanning “SERINI Melawati is located close (LRT) station (on the Kelana Jaya the unit’s full width. “Th is is an to the brand new Central Park Mel- LRT line), Rapid KL and taxi hub, as exclusive design feature of The awati, an extension of the green well as a bus terminal for buses to Véo,” adds Mohd Shahreza. In fact, Mohd Shahreza: spaces within the development. Th e Genting Highlands, all within easy most of the Tower B units of Th e The Véo targets park boasts immaculately designed reach via a proposed 800m covered Véo accord views of the greenery professionals, green spaces, water features and pedestrian walkway. It is located just and hills. managers, activity centres among the stylish 15 minutes away from KLCC, and Facilities at Th e Véo include a executives and commercial and retail-scape of the fi ve minutes to the Gombak and Sri 3-tier security system, a community businessmen township’s urban centre. Rampai LRT stations. sky garden on each tower, gym, club- between the ages of “Adjacent to SERINI is the Mela- Set for completion this Septem- house, wading and infi nity pools, 30 and 40 who want wati service cluster that will house ber at KL East is Th e Véo, the rstfi children’s playground and a mul- a modern, urban the new Melawati police station. residential high-rise in the town- tipurpose hall. lifestyle. Th ere are also banks, supermarkets, ship. It comprises 30-storey twin Th e Véo itself is well-connected hypermarkets, a post offi ce, petrol towers housing 175 condominium to various highways such as the station, food outlets and healthcare units each. Th e units are made up of Ampang-KL Elevated Highway, Du- Homes above a mall activities in the area while off ering facilities within the Melawati area,” studios, 3-bedroom units, dual-key ta-Hulu Klang Expressway, Middle Last year, Sime Darby Property in- retail convenience to its residents, Mohd Shahreza explains. units and duplexes, ranging from Ring Road 2 and Karak Expressway. troduced a new project at KL East he adds. 735 sq ft to 3,638 sq ft. KL East will also benefi t from the known as Quarza Residence. Th e Tower A was launched in May How does the area fare? Tower B of Th e Véo was launched upcoming Setiawangsa-Pantai Ex- integrated development features 2016 and is currently 52% taken up. According to Laurelcap Sdn Bhd in November 2012 whereas Tower pressway which has a direct link to two towers of serviced apartments “We will also be launching Tower executive director Stanley Toh, A was launched in May 2013. Th ere the Tun Razak Exchange and Ban- with a total of 508 units. B of Quarza Residence comprising Melawati is an established mixed are only 52 units left for sale to date. dar Malaysia development corridor, “Each tower houses 254 units another 254 units by next year with commercial and residential de- Th e price psf of Th e Véo ranges from off ers Mohd Shahreza. of serviced apartments, with a mix prices ranging from RM576,888 to velopment located within Klang RM680 to RM750. Parents with school-going chil- of 1-bedroom units with a built-up RM836,888,” off ers Mohd Shahreza. Gates about 13km north east of “Th e target segment for Th e Véo is dren can opt for the reputable Kolej size of 651 sq ft and 2-bedroom, KLCC comprising mainly terraced professionals, managers, executives Yayasan Saad International School 2-bathroom units from 850 sq ft Old rubber plantation houses, semi-detached houses, and businessmen between the ages which is targeted to open in early to 865 sq ft. shines on bungalows and apartments/con- of 30 and 40 who want a modern, 2019. “Facilities at Quarza Residence Located near to KL East is Sime Dar- dominiums. include a sophisticated sky garden, by’s other township, Melawati. Ac- “The prices of high-rises for wading, family and lap pools, an cording to Mohd Shahreza, some the newer projects are between aqua gym, futsal court, BBQ pavil- forty years ago in the mid-seventies, RM600 and RM700 psf while the ion, multipurpose hall and children’s a rubber plantation in Ulu Kelang existing older apartments are be- playground,” Mohd Shahreza says. known as Hawthornton Estate was tween RM300 and RM400 psf. What Quarza Residence sits atop an developed into Taman Melawati — a is favourable about the area is that upcoming mall which will occu- residential estate targeting the grow- it has good road access via the py the lower four levels. Slated ing middle-income group. Middle Ring Road 2 with amenities for opening in November next Coming up in the area is Mel- such as schools, shops and public year, 30% of the retail space has awati Mall, a 10-storey shopping transportation readily available, already been taken up, as at Feb- and lifestyle centre which will of- and the scenic and serene area Quarza ruary this year. fer 635,000 sq ft of premier brands, bordering the Klang Gate Quartz Residence is Planned to house a myriad of themed food and beverage outlets, Ridge” says Toh. the second renowned retail brands, food and specialty shops, a cineplex as well According to Toh, the property project beverage outlets, as well as a super- as leisure and entertainment out- market here is currently fl at due to located at market, cinema, and an ice rink, the lets. Th e mall is jointly developed the general market slowdown but the KL East lifestyle speciality neighbourhood by Sime Darby Property and Capi- in the longer term, outlook looks township. mall will be a catalyst for business taMalls Asia. bright as land gets scarcer in KL.

HRL 16 FRIDAY MARCH 31, 2017 • THEEDGE FINANCIAL DAILY HIGH-RISEHIGH-RISE LIVINGLIVING SPECIAL REPORT

NAPIC Avoiding pitfalls in strata Do you know property investments ?

MOHD SHAHRIN YAHYA | TheEdgeProperty.com • At least SIX MILLION or BY SHAWN NG 30% of Malaysians are staying in strata properties (as at end-2015) ith land for prop- Adzman warns investors erty develop- to avoid strata properties • The number of residential strata ments shrinking with legal and maintenance units in the country is around by the day espe- issues as well as those built 1.5 MILLION (as at end-2015) cially in the Klang by dodgy developers. Valley, many Wproperty developers have been • There are about 16,000 completed moving towards higher density residential strata developments, developments. including condominiums, Th ese include stratifi ed proper- apartments and serviced apartments ties and integrated developments (as at end-2015) which involve high-rise compo- nents, said Exastrata Solutions Sdn Bhd chief real estate consultant Adzman Shah Mohd Ariffi n. Statistics from the National Prop- Convention 2017 (MAREC‘17) or- easier to market and dispose off . non-landed residences tend to off er Hence, he advised owners to get erty Information Centre (Napic) ganised by the Malaysian Institute “If you look at the housing loan more attractive rental returns than to know their management team showed that as at end-2015, about of Estate Agents on March 4. applications for the past six months, landed residences. and fi nd out if they are capable of six million or 30% of Malaysians There is no doubt that strata 75% of them came from fi rst-time “According to a media report managing the property. were staying in 1.5 million residen- residential properties, especially homebuyers, who could proba- published about six months ago, Meanwhile, Adzman also tial strata properties. those that come with a wide range bly only aff ord properties priced a well-managed condominium is warned investors to avoid strata On top of that, there were about of facilities and features, have be- RM400,000 and below. And what able to off er high yields of 5.5% to properties with legal issues, those 16,000 completed residential strata come increasingly popular not just are the properties that are within 6%, especially those in Mont’Kiara, with a lot of maintenance issues developments as at end-2015, Adz- for homebuyers but also as invest- this price range? Th ey are strata while those in other areas in the as well as those built by dodgy de- man told the audience during a talk ment property, he said, adding that properties,” he added. Klang Valley can off er returns of velopers or developers that are not at the Malaysian Annual Real Estate such properties are also relatively As an investment property, up to 4%, compared with 2% to 3% registered with the ministry. from terraced houses and bunga- He also thinks that investors TheEdgeProperty.com lows,” he said. Hence, strata prop- should avoid investing in prop- erties can be good investments. erties that have been under the However, when investing in Master Title for a long time with Before buying a strata property, DO … strata properties, some homework no prospect of getting their own needs to be done before purchasing Strata Title anytime soon. 1 Scan the primary, secondary and auction markets to fi nd the best deal the property. Adzman noted that In addition, strata property in- there are a lot of strata property vestors should always study their 2 Evaluate the surroundings of the potential property owners and investors who do not investment options before making understand or ignore the concept the fi nal decision. 3 Check out the neighbourhood of strata properties, the responsi- “When you are looking for a bilities of a strata property owner property to invest, you need to 4 Find out about the maintenance charges as well as laws pertaining to stra- check out the surroundings of the ta property such as the Strata Ti- property, including cleanliness, 5 Check out the facilities to see how well they are being maintained tles Act. Such ignorance or apathy operational condition of the facil- could lead to problems with their ities, upkeep of the common areas, 6 Check if the property has any legal issues pending investment. and others. You need to be active “Th e Strata Titles Act actually in your research as there are a lot 7 Check whether the collection of maintenance fees is good aff ects the way we live. In addition, of things to look at,” he said. the Ministry of Urban Wellbeing, He pointed out that investors 8 Learn to recognise units within the building that off er good value Housing and Local Government has should also consider the occupancy plans to review the Act to improve rate of the property to ensure that it 9 Understand the responsibilities of a strata property owner it further, so this is how dynamic is adequate enough for the collec- the situation is when it comes to tion of suffi cient maintenance fees 10 Understand the role of the management committee strata living,” he shared. and charges in order to maintain Failing to understand and em- the facilities and common areas. brace their responsibilities as strata Investors should also identify property owners, such as paying units with the best value in a stra- As a strata property owner, DO … their charges on time, or failing ta building. For example, units on to jointly undertake the responsi- higher fl oors are usually more ex- bility of managing the building’s pensive as they off er better views. Understand and com- Jointly undertake the re- Attend the general common properties, or failing to However, if units on the lower fl oors 1 ply with the bylaws and 3 sponsibility of managing 5 meetings and partici- familiarise themselves with the are cheaper but are able to accord rules as stated in the the common areas in the pate in the discussions Strata Management Act 2013 may the same view, investors should go Strata Titles Act property and decision-making also cause the owners a lot of trou- for the lower units, he said. ble when problems arise later, said Meanwhile, there are plenty Adzman. of opportunities in the primary, Pay the maintenance Monitor the performance Keep track of the issu- If the owner is one of the com- secondary and auction markets 2 charges and related 4 of the management com- 6 ance of the Strata Title mittee members of the joint man- for non-landed strata residences, fees on time mittee and take legal ac- with the developer if the agement body or the management but investors have to scan through tion against the manager building is still under corporation and fails to do the job them all to fi nd the best deal, he if necessary the Master Title of managing the property, he or she added. could be sued by the other own- “If you think about your invest- ers for not fulfi lling the duties of a ment well, you can avoid a lot of property manager, he said. headaches. Try to avoid proper- He added that as a strata prop- ties with a lot of issues and, at the erty owner, one should also under- same time, please understand what stand the role of the management comes with the ownership of strata committee and monitor their per- properties. And again, you have to formance because a well-managed make sure your investment gives property will off er better value. good returns,” Adzman concluded.

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