ECONOMIC OVERVIEW Property launches

Apartments / Condos / Townhouses Key statistics Latest releases Previous rates Terraced houses Semi-detached houses Quarterly GDP growth 5.4% (2Q2012) 4.9% (1Q2012) Detached houses Annual GDP growth 5.1% (2011) 7.2% (2010) Consumer Price Index (CPI) 1.8% (Jan-Aug, '12) 3.2% (2011) Industrial Production Index (IPI) 110.4 (Aug-12) 108.4 (2011) Major news Base Lending Rate (BLR) 6.6% (Jun-12) 6.45% (2011) New GC2 development aims to be… Exchange rate: RM to US dollar RM3.0440 (17/10) RM3.1895 (29/06) Qatar to build Harrods hotel in… Jetson in JV to build condo in Penang The Malaysia's economy strengthened further to 5.4% for the second quarter of 2012 Harrods Hotel to open in KL against 4.9% in the preceeding quarter led by continued expansion in the Services Battersea project to be worth £8b… and Manufacturing sectors. The robust growth in Gross Fixed Capital Formation HSL wins RM291m UiTM campus… (GFCF) has driven the demand side. Developer raises the bar for high-end... China company wins RM230m deal The Malaysian Industrial Production Index (IPI) grew at a slower pace at 1.4% in Mayland to turn Cheras Sentral into… July, on the back of weaker exports. It came in below market expectations as the Gamuda Land in RM600mil… index was dragged down by mining activities. The mining index registered a Cheras Sentral to get MRT connection decrease of 10.4% due to the decrease in natural gas index and crude oil index of All systems go for RM4b Johor… 3.4% and 25.1%, respectively. The Statistics Department said the IPI's expansion New landmark for Klang was due to increases in the manufacturing and electricity sectors, which grew by Naza eyes more joint projects with… 5.5% and 2.8%, respectively. All systems go for Marina One SCP offers zero-lot bungalows in… The Consumer Price Index (CPI) for the period January to August 2012 increased by Terengganu to get new hospital 1.8% to 104.6 compared with that of 102.8 in the same period last year. Compared Bids for British High Commission… with the same month in 2011, the CPI for August 2012 registered an increase of SP Setia set to unveil luxury condo… 1.4% from 103.6 to 105.0 and when compared with the previous month, the CPI Skypark aims to be destination for… increased by 0.2%. Developers eyeing prime land in KL… Advance Pact gets RM600m job The international reserves of Bank Negara Malaysia amounted to RM421.3 billion Two new Tune Hotels open in London (equivalent to USD137.5 billion) as at 28 September 2012. This reserve level has Napic: KL office rentals stable over… taken into account the quarterly adjustment for foreign exchange revaluation loss, MK Land to build affordable houses… following the strengthening of ringgit against major and regional currencies during Setia Haruman to focus on purpose… the third quarter. The reserves position is sufficient to finance 9.2 months of retained Medini Iskandar to build condos… imports and is 3.8 times the short-term external debt. Posh living at Shaftsbury Square Latest project in TTDI linked to bus… Total trade in August 2012, which valued at RM104.8 billion, dropped 6.9% or Sepang Goldcoast inks deal with… RM7.8 billion, month-on-month. It posted a decrease of 1.3% from a year before. Sunway shines with green concept During the period under study, Malaysia experienced a trade surplus of RM7.1 The Haven set for completion mid… billion. The surplus increased significantly by 96.2% from RM3.6 billion registered Grand Hyatt KL may open as early… a month ago. However, as compared with the previous year, it dropped by 36.0%. Jaya33 Cybercentre awarded MSC… Luxury in Bandar Mahkota The Prime Minister YAB Dato’ Sri Mohd Najib Tun Razak, tabled 2013 budget on MCT aims to change USJ’s skyline… 28 September 2012. The theme of the 2013 Budget "Prospering the Nation, Transforming Port Dickson Enhancing Well-Being of the Rakyat: A Promise Fulfilled" reflects the Kompleks Dayabumi to be refurbished Government's focus on improving the quality of life of the rakyat, High demand for high rise ensuring sustainable economic growth, spending prudently and reducing the fiscal Crescendo to launch Johor township… deficit with overall objective of prioristing the rakyat.housing units i New Bangsar high-rise raises concerns Others

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For the 2013 Budget, an amount of RM201.9 billion has been allocated for operating Mega deals expenditure whilst for development expenditure, the amount allocated is RM49.7 Khind-Mistral buys property in… billion. On the revenue side, the Federal Government is expected to generate an The Store unit buys Shah Alam... amount of RM208.6 billion. Taking into account the estimated revenue and Tabung Haji to buy Bangsar office… expenditure, the Federal Government deficit in 2013 is expected to improve to 4.0% PHB buys office, retail buildings… of Gross Domestic Products (GD), which is lower compared with 4.5% in 2012. Aeon scraps land purchase plan Ken Holdings to buy land for green… The tourism industry is one of the key economic growth sectors, contributing almost Zecon unit signs S&P deal with LTH 12% to GDP. Total revenue generated from the tourism sector is estimated to See Hup unit buys land for RM3.11m increase to RM62 billion in 2012. In conjunction with Visit Malaysia Year Land disposal by Sarawak Plantation... 2013/2014, the Government has allocated RM358 million under development Pinehill disposes Kuala Lumpur land expenditure, an increase of 42%, to target 26.8 million tourist arrivals. In addition, AT to sell off land in Penang for RM... for tour operators who bring in at least 750 foreign tourists or handle 1,500 local Emico plans to sell land for RM8.6mil tourists a year, the Government proposes that the income tax exemption be extended Boilermech in RM20.3m land… to 3 years. AmFirst buys office building in… Dunia Batu Alam to buy Malacca land The following are some of the key announcements under the 2013 budget: MBSB plans property sale PLB unit plans land sale for…  In order to curb speculative activities, the Real Property Gain Tax (RPGT) rates EPF unit buys RRI land for RM2.28b have been revised that chargeable assets disposed of within a period of 2 years HB Global inks RM48m land pact from acquisition will be subject to a rate of 15% whilst disposals within 2 to 5 Tradewinds to sell land in Johor via... years will be subject to a rate of 10%. Disposals of assets held after 5 years LBI Capital unit buys land in Sabah remain exempt from RPGT. This is effective for disposal of real properties and Sime Darby units sell assets worth… shares in real companies commencing from 1 January 2013. Others

Retail's corner  My First Home Scheme income limit for individual loans raised from RM3,000 to RM5,000 per month, or in the case of joint loans of husband and wife of up Jakel plans Ampang, Bangi, Sarawak... to RM10,000 per month. 50% stamp duty exemption on sale and purchase Plan for 74 more Petronas stations… agreements and loan agreements for purchase of the first residential property of Zazen Health launches 31st outlet up to RM400,000 (increased from RM350,000), be extended to 31 December Naza Quest plans more 3S centres 2014. Fed Furniture launches first kitchen… Daily Fresh to open 5 kiosks in…  The Government will allocate RM100 million to the Ministry of Housing and Hui Lau Shan opens 4th outlet Local Government to revive 30 abandoned housing projects. In addition, to Mitsubishi unveils largest 3S centre… encourage the involvement of the private sector, the Government will provide Dr M launches 9th Loaf outlet tax incentives as follows: Lotus to open KL showroom New brand hits our shores i. Banking institutions to be given tax exemption on interest income Marrybrown to spread its wings received from the rescuing contractor/developer; McDonald's eyes more franchises ii. Rescuing developer be given a double deduction on interest paid and Analyst positive on Padini and… all direct costs incurred in obtaining loans; H&M makes entrance in Setia City… iii. Rescuing contractor be given stamp duty exemption on all Aeon to open in Manjung instruments executed for the purpose of transfer of land or houses Parkson to open maiden store in… and loan agreements to finance the cost of revival; and Korean delights in Malaysia iv. Original house buyer in the abandoned project be given stamp duty Johnny Rockets to Malaysia exemption on all instruments executed for the purpose of obtaining Parkson plans new outlet additional finance and the transfer of the house.nment revive 30 Ekuinas to acquire Burger King… abandoned housing projects. In addition, to encourage the Others involvement of the private sector, the Government willprovide

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PROPERTY LAUNCHES

Minimum Minimum selling No Projects Developers Units sizes (sq ft) prices Apartments / Condominiums / Townhouses 1. Sentral Residence @ Taman TKS Projects Sdn 270 1,047-1,529 RM 368,544 Kajang Sentral Bhd

2. Park Village Condominium, Second Home 119 1,400-2,002 RM 680,000 Precinct 15, Putrajaya Properties

3. You Residence @ Cheras PJD Regency Sdn 370 533-1,453 RM 412,000 Bhd

4. arte @ Subang West Glomac Berhad 355 874-1,030 RM 460,000

5. The i Residence @ Bdr Mahkota Myproperty Builders 222 1,022 RM RM 351,260 Cheras Sdn Bhd

6. Montena Suites (SOVO) @ Alam Fame Modulation 473 603- 692 RM 295,000 Damai

7. Windows on the park @ Cheras SDB Properties Sdn 540 916- 2,400 RM 595,000 Bhd

8. 280 Parkhomes @ Puchong Mitra Jaya 280 2,422- 4,370 RM 800,000 Prima Development Sdn Bhd

Standard land Minimum selling No Projects Developers Units areas (sq ft) prices Two storey terraced houses 1. D Mawar Residence @ Bandar Mega First Housing 149 1,430 RM 430,000 Baru Salak Tinggi, Sepang Development Sdn Bhd

2. Teak II @ Lanv Valley, Ipoh Gunung Lang 63 1,500 RM 290,800 Development Sdn Bhd

3. Delfina @ Nilai Impian Sime Darby Nilai 430 1,606 RM 450,888 Utama Sdn Bhd

4. Sakura @ S2 Heights, Seremban Seremban Two 176 1,540 RM 465,289 Holdings Sdn Bhd

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Standard land Minimum selling No Projects Developers Units areas (sq ft) prices 5. Serena @ Bukit Bandaraya, Shah Lebar Daun 140 1,480 RM 559,888 Alam Development Sdn Bhd

6. Sinar 2 @ Bandar Saujana Glomac Interprise 113 1,650 RM 532,000 Utama, Sungai Buloh (Type A) Sdn Bhd

7. Ayu Impian, Alam Nusantara PKNS 134 1,400 525,346

Two and a half storey terraced houses 1. Sinar 2 @ Bandar Saujana Glomac Interprise 122 1,650 RM 700,000 Utama, Sungai Buloh (Type B) Sdn Bhd

Three storey terraced houses 1. Taman Ukay Tropika, Ampang TRC Land Sdn Bhd 83 1,650 RM 1,006,390

2. Quartz 16 @ Melawati Mitraland Melawati 55 1,800 RM 1,920,500 Sdn Bhd

3. Clove @ Taman Titi Heights, Gold Mart 54 1,400 RM 638,000 Balik Pulau, Penang Development Sdn Bhd

Two storey semi-detached houses 1. Citrina @ Bernam Jaya (Cluster PKNS 46 1,690 RM 261,888 House)

2. Urbana @ D Alpinia, Puchong Hap Seng Land Sdn 38 3,600 RM 1,575,316 Bhd

3. Legasi 2 @ Bayuemas, Klang I & P Kota Bayuemas 32 3,500 RM 843,888 Sdn Bhd

4. The Banyan 2 @ Desa KL-Kepong Property 142 3,200 RM 868,000 Coalfields, Sungai Buloh Development Sdn Bhd

5. The Thymes @ Precinct 11, Putrajaya Homes Sdn 30 3,281 RM 1,106,000 Putrajaya Bhd

6. Canary Garden @ Bandar Khoo Soon Lee 330 2,560 RM 888,800 Bestari, Klang Realty Sdn Bhd

Two and a half storey semi-detached houses 1. Shng Villas @ Cheras Valencia Terrace Sdn 14 3,200 RM 2,796,800 Bhd

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Standard land Minimum selling No Projects Developers Units areas (sq ft) prices Three storey semi-detached houses 1. Canary Garden @ Bandar Khoo Soon Lee 54 3,200 RM 1,480,000 Bestari, Klang Realty Sdn Bhd

Two storey detached houses 1. The Avantgarde Collection @ Teladan Setia Sdn 53 6,400 RM 1,200,000 Taman Saujana Heights, Ayer Bhd Keroh, Melaka

2. The Masterpiece Collection @ Teladan Setia Sdn 32 6,000 RM 1,050,000 Taman Saujana Heights, Ayer Bhd Keroh, Melaka

3. Meru Hills Bungalows @ Ipoh Para Development 17 9,945 RM 1,353,752 (Type Alexandra & Chelsea) Sdn Bhd

Two and a half storey detached houses 1. Urbana @ D Alpinia, Puchong Hap Seng Land Sdn 26 6,000 RM 2,226,316 Bhd

Three storey detached houses 1. Damaisari @ Wangsa Melawati Axis Milestone Sdn 29 3,200 RM2,877,000 Bhd

Three and a half storey detached houses 1. Alam Desa Residen @ Kuchai Vibilt Corporation 11 6,000 RM 5,500,000 Lama Sdn Bhd

Four storey detached houses 1. Quartz 16 @ Melawati Mitraland Melawati 26 2,888 RM 3,739,800 Sdn Bhd

One and a half storey detached houses 1. Meru Hills Bungalows @ Ipoh Para Development 13 8,051 RM 1,234,784 (Type Brooklyn) Sdn Bhd

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MAJOR NEWS

New GC2 development aims to be a premier centre for businesses in Cyberjaya Top

After the overwhelming success of the maiden launch of Glomac Cyberjaya 1, which was completely sold out, property developer Glomac Bhd has opened for booking the second phase of the freehold commercial project which was launched late last year. The 2.83ha commercial project called Glomac Cyberjaya 2 (GC2) is a continuation of the first phase consisting of 63 units. The second phase will consist of 55 units of three-storey, 3½-storey and 4½-storey shop offices with a built-up areas starting from 3,300sq ft onwards. Prices start from RM1.3million for the 15 three-storey units (22 x 50 sq ft), RM2.5million onwards for the 32 3½ storey units (22 x 70 sq ft), while the 4½-storey units (22 x 70 sq ft) will start from RM3.7million onwards.

(The Star-2 July 2012)

Qatar to build Harrods hotel in Malaysia Top

Gas-rich Qatar’s sovereign wealth fund plans to build luxury hotels in Malaysia, Paris, London and China named after Harrods, the world’s famous department store, a report said today. Under a US$636 million plan Qatar Holding will partner a local Malaysian firm Jerantas to construct a hotel in Kuala Lumpur’s golden triangle’s shopping district of Bukit Bintang. Construction work is expected to begin next year on the development, which will comprise up to 300 hotel rooms, apartments and retail space covering a 5.5-acre (2.2 hectare) site, the Star newspaper said. (NST-4 July 2012)

Jetson in JV to build condo in Penang Top

Kumpulan Jetson Bhd is developing a luxury residential development project in Penang called The Macalister, comprising 33 high-rise condominium units. Its subsidiary Jetson Development Sdn Bhd has yesterday entered into a heads of agreement with Fortress Effect Sdn Bhd for the joint development on three pieces of freehold land, measuring a total of 4,486.51 sq m. Under the agreement, Jetson Development is entitled to 30% of the project’s gross development value and Fortress Effect the remaining 70%. (NST-4 July 2012)

Harrods Hotel to open in KL Top

Malaysia could be home to the world's first Harrods Hotel if everything goes according to plan under a RM2billion collaboration between Qatar Holding LLC and Jerantas Sdn Bhd. The project, located on a 5.48- acre land between Jalan Raja Chulan and Jalan Conlay, would be one of the world's first three Harrods Hotel chain to be built. The other two on the drawing board would be in London and Italy. The project would be built on two parcels of land where Chulan Square and Sri Melayu Restaurant are sitting. The land was acquired by Jerantas from the Government for 1,800 per sq ft or RM429.68million. The development would be a one- structure building housing the seven-star hotel, serviced apartments and some retail space. The hotel is designed to have 250 to 300 rooms but the capacity of the serviced apartment has not been decided. (The Star-4 July 2012)

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Battersea project to be worth £8b in 15 years Top

The consortium comprising Sime Darby Bhd, SP Setia Bhd, and Employees Provident Fund (EPF), which bought London’s iconic Battersea power station for £400 million (RM1.97 billion), will redevelop the site to create a gross development value of £8 billion (RM39 billion) over 15 years. The development of the Battersea Power Station project, which will see its four iconic chimneys preserved, covers an area of 15.64ha, involving homes, offices and shops. The consortium said the project is expected to see strong capital growth as it will be part of the strategic Vauxhall Nine Elms Battersea Opportunity Area Planning Framework, the largest urban redevelopment network area in central London. (NST-6 July 2012)

HSL wins RM291m UiTM campus contract Top

Hock Seng Lee Bhd (HSL), a marine engineering, civil engineering and building construction company, has won a RM291 million contract to design and build an educational institution in Mukah, Sarawak. The job, located within the Sarawak Corridor of Renewable Energy, will bring the value of the company's projects in hand to RM2 billion. The work, which will include sand filling, piling, civil infrastructure works, specialist campus buildings and mechanical and electrical works, is expected to be completed in the third quarter of 2015. The proposed campus, covering 24.9ha, will include themed walkways and five blocks of five-storey apartments. (NST-6 July 2012)

Developer raises the bar for high-end properties with its link villas Top

With its linear garden and individual swimming pools, Aqua3 Link Villas @ Reflexion, Bandar Nusaputra in Puchong aims to appeal to those who enjoy the finer things in life. Taraf Unggul Sdn Bhd general manager Raymond Low said Aqua3 is for those who want to come home to their own sanctuary. According to Low, among Aqua3’s big attractions are big built up areas, double-volume living halls with full height glass curtain walls, private linear park and individual swimming pools. The first phase of 28 units, Pool villas @ Reflexion, was fully sold within two months of their launch in March. The second phase, Aqua3 Link Villas, has been launched and is scheduled to be completed by February 2014. There are 127 units in total. The second phase, Aqua3 Link Villas, has been launched and is scheduled to be completed by February 2014. There are 127 units in total. Selling prices start from RM1.39million, with a RM100,000 early bird discount available.

(The Star-6 July 2012)

China company wins RM230m deal Top

OSK Property Holdings Bhd has awarded a RM230 million contract to Beijing Urban Construction Group (BUCG) to redevelop The Atria, which is worth RM1 billion. The developer is re-constructing The Atria in Damansara Jaya, Selangor to build two 16-level SOFO (Small Office Flexible Office) suites and a four-storey retail podium. OSK Property bought The Atria, a popular neighbourhood shopping centre, in 2007 for RM75 million. The building was established in the 1980s. Executive director, Ong Leong Huat, said the total cost to construct The Atria would be RM280 million and it includes RM50 million to demolish the building, for earthworks and to lay the foundation. At the signing of the agreement between OSK Property and Beijing Urban Construction Group yesterday, Ong said construction of The Atria had commenced, and works are expected to be completed by end-2013. (NST-7 July 2012)

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Mayland to turn Cheras Sentral into bustling spot Top

Malaysia Land Properties Sdn Bhd (Mayland), which is set to open a second shopping centre by year-end, expects return on investment (ROI) in as early as five-and-a-half years. Mayland, which owns and operates the Sri Hartamas Shopping Centre, is currently working on Cheras Sentral, the shopping complex which was previously Phoenix Plaza and is now undergoing a RM110 million transformation. The previous mall, Phoenix Plaza opened in 1994 but closed in 2005. The mall, with 500,000 sq ft of net lettable area (NLA), anticipates 85% occupancy on the opening day, which will be before Christmas this year. Rent at the malls is expected to be between RM4.50 and RM5.00 per sq ft. Cheras Sentral will include coffee joints, leisure and entertainment elements as well as health and lifestyle. It will house a karaoke, eight screens cinema and Celebrity Fitness.

(NST-7 July 2012)

Gamuda Land in RM600mil commercial project in Kelana Jaya Top

Gamuda Land Sdn Bhd, the property arm of Gamuda Bhd, has purchased 4.86-acre freehold land in Kelana Jaya for RM95million. It intends to develop the commercial plot into a mixed project of retail and office suites for RM600million. The average selling price for the residential component is RM750 per sq ft while the retail shops are estimated at an average selling price of RM800 per sq ft. "The planning and content of this development is anticipated to be revealed in early 2014," said Gamuda Land managing director Chow Chee Wah. The site is located behind the Giant hypermarket, and in front of Dataran Glomac. Other notable developments within a 500m to 1km radius are the newly-opened Paradigm Mall, Parklane Commercial Hub, Zenith Corporate Park, Kelana Square, Kelana Centre Point and Tiara Kelana. (The Star-10 July 2012)

Cheras Sentral to get MRT connection Top

Malaysia Land Properties Sdn Bhd (Mayland), which is redeveloping Phoenix Plaza in Cheras, will benefit from connectivity with the planned MRT station in three years. "There will be a pedestrian bridge right across the road connecting the MRT station to the second level of our shopping mall," said Mayland retail general manager Michael Chee. Renamed Cheras Sentral, the Phoenix Plaza shopping complex is now undergoing a RM125 million transformation. Chee said the mall, with 500,000 sq ft of net lettable area, anticipates 85% occupancy by the end of this year. Rent at the malls is expected to be between RM4.50 and RM5.00 per sq ft. Phoenix Plaza, which opened in 1994, closed in 2005 due to accessibility problem and inexperienced management. There is also a proposed hotel, which will carry the group's hotel brand - Silka or Dorsett - which will have about 300-odd rooms and is scheduled for opening early next year. (NST-10 July 2012)

All systems go for RM4b Johor beachfront project Top

Tan Sri Vincent Tan's multi-billion ringgit beachfront project Lido Boulevard, thought to be abandoned, will start site mitigation works this week. It is estimated the entire development will have a gross development value of RM4 billion. Lido Boulevard is an integrated residential and commercial waterfront development that spans 2.4km along the Tebrau Strait coastal line. The development starts right after the abandoned JB Waterfront City, Lot One, and ends just before the Marine Department. The project will comprise six parcels: Its high-end condominium towers Lido Residences, a 2.7km long and 10m wide boardwalk, a cultural centre, a hotel and retail mall, office suites and a 1.8ha to 2ha green lung. (NST-10 July 2012)

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New landmark for Klang Top

Port Klang Authority (PKA) and Lagenda Erajuta Sdn Bhd formed a joint venture to give Klang a new landmark by developing a RM500 million 1Gateway project in the royal town. Chairman Datuk Dr Teh Kim Poo said the project will be on a piece of 6.47ha of land in Taman Datuk Abdul Hamid along Persiaran Raja Muda Musa. It is expected that the project will be completed within five years. The commercial project will consist of two internationally branded hotels, office towers, Cineplex and shopping mall, he said. Initially, the land was a joint-venture project between PKA and Dermaga Suasa Sdn Bhd (DSSB) in 1995 and was called Intania project. However, it was stopped due to the 1997 financial crisis and was abandoned.

(NST-12 July 2012)

Naza eyes more joint projects with Prasarana Top

The Naza Group of Companies, developer of the RM15 billion KL Metropolis project in Kuala Lumpur, is bidding for more joint-venture developments with Syarikat Prasarana Negara Bhd. Yesterday, the group's flagship property development arm, Naza TTDI Sdn Bhd, inked its first joint-venture agreement with Prasarana, to build a 26-storey condominium tower on a 0.4ha site in Taman Tun Dr Ismail. The land cost for the project is around RM12 million and it is expected to generate a gross development value (GDV) of RM153 million. Prasarana, a public transport provider, has about 8.4ha of undeveloped land along its Ampang and Kelana Jaya light rail transit (LRT) lines. (NST-12 July 2012)

All systems go for Marina One Top

Khazanah Nasional Bhd and Temasek Holdings have kicked off their property alliance in the island republic with a S$7 billion (RM17.6 billion) central business district project. The Marina One development in Marina South is one of two big projects on six plots of land in Singapore to be undertaken under a joint venture called M+S Pte Ltd. The other project is at Ophir-Orchor. The joint venture stems from a land swap deal that Singapore and Malaysia agreed on in 2010 that included the development of the six parcels of land in Singapore. In return, Singapore gained six plots of Malayan Railway land - three in Bukit Timah and one each in Tanjong Pagar, Kranji and Woodlands. M+S has secured S$5 billion (RM12.6 billion) loans from eight banks in Singapore to partly finance Marina One, which will have two office towers, two residential towers and a dash of retail units. (NST-12 July 2012)

SCP offers zero-lot bungalows in Wangsa Melawati Top

Axis Milestone Sdn Bhd, a company owned by the SCP group, has launched a gated and guarded, niche residential development within the matured and established suburb of Wangsa Melawati in Taman Melawati, Kuala Lumpur. The 3.85-acre (1.55ha) low density freehold high-end enclave known as Damaisari @ Wangsa Melawati comprises only 29 units of 3-storey zero-lot bungalows with a gross development value (GDV) of RM95 million. About 75% of the total 29 units have been sold since the show house was unveiled recently.

(Theedgeproperty-13 July 2012)

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Terengganu to get new hospital Top

Terengganu will have a modern, 130-bed private hospital when the new Kuala Terengganu Specialist (KTS) hospital opens its doors in 24 months. The RM170 million hospital, under state-owned company TDM Berhad, will replace the current KTS building which has reached its capacity and cannot meet the rising demand. TDM Berhad chairman Datuk Roslan Awang Chik said the new hospital will be equipped with five operating theatres, a 12-bed intensive care unit (ICU) and an integrated car park with 281 parking bays. (NST-13 July 2012)

Bids for British High Commission land may be called next week Top

The British government is expected to put its 1.22ha land, where its High Commission here sits, on the market. Sources estimate that the deal could be concluded for as much as RM400 million. Its land in Ampang, located near the Petronas Twin Towers, has doubled in value over the past year. A year ago, estimates were that land in the area could fetch as much as RM1,500 per sq ft, but Mulpha International Bhd disposed of a piece of land recently in Jalan Sultan Ismail for RM3,300 per sq ft. (NST-13 July 2012)

SP Setia set to unveil luxury condo project in JB Top

SP Setia Bhd will soon unveil its latest and perhaps most prestigious development in the city - a 55-storey luxury condominium valued at about half a billion ringgit. Set to have 600 units, the Setia Sky 88 will be located on SP Setia's 1.7ha land on Jalan Abdullah Tahir. Selling prices of the two-tower condominium will start at RM700 per sq ft, with unit sizes ranging from 500 sq ft to 1,500 sq ft. The site will see the development of a third block, which is likely to be an office or commercial building. (NST-14 July 2012)

Skypark aims to be destination for shopping, dining Top

Subang Skypark Sdn Bhd (Skypark) is set to create a lifestyle environment to its premises by repositioning and rebranding some of its retail aspects. Skypark vice-president of operations Francis Anthony said the airport is at the periphery of a hub with many real-estate developments around. He said Skypark is investing some RM5 million to improve its retail mix and brands to provide a facility where some 800,000 po-pulation around the airport have a place to go. Skypark will build a commercial mixed development called Commercial Nexus on a piece of 4.45ha land opposite the terminal. The gross development value (GDV) is estimated to be RM300 million, said Anthony. He added that there will be a luxurious business hotel as well as conference and meeting facilities and an aviation theme park. (NST-16 July 2012)

Developers eyeing prime land in KL British High Commission’s premises Top

Developers are eyeing the premises of the British High Commission in Jalan Ampang, Kuala Lumpur due to the location and size of the land, property consultants said. However, there were mixed views on the indicative value of the three-acre land which according to sources could be as high as RM200million. That works out to RM1,525 per sq ft. It will be relocating next year to the just-completed Menara Binjai in Jalan Ampang. SavillsRahim and Co, which is the marketing agent for the property, would be renting on the 27th floor of the 35-storey building. (The Star-17 July 2012)

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Advance Pact gets RM600m job Top

Listed Ahmad Zaki Resources Bhd (AZRB) has awarded a RM600 million contract to Advance Pact Sdn Bhd to provide hospital facilities management services. The contract, awarded through Ahmad Zaki's wholly-owned Peninsular Medical Sdn Bhd (PenMedic), is for more than 20 years. Advance Pact is a company under Unit Peneraju Agenda Bumiputera's (Teraju) Teras initiative. Under the agreement, Advance Pact will provide hospital facilities management services to the International Islamic University Malaysia (IIUM) teaching hospital in Kuantan, Pahang, for 21-and-a-half years from 2015. (NST-17 July 2012)

Two new Tune Hotels open in London Top

Tune Hotels has opened another two hotels in Kings Cross and Paddington, making them the brand's third and fourth hotels in London. With the opening of both hotels, the move cements the group's position as one of capital's leading budget hotel chains. The two new London hotels are part of the 30 which are being opened globally over the next 12 months, said a statement. Tune Hotels is part of the Tune Group, the lifestyle business conglomerate founded by Tan Sri Tony Fernandes and Datuk Kamarudin Meranun, who are the Group Chief Executive Officer and Deputy Group Chief Executive Officer, respectively, of AirAsia, Asia's largest low-cost carrier. (NST-17 July 2012)

Napic: KL office rentals stable over past 3 years Top

Office rentals in Kuala Lumpur had remained stable over the past three years until end-2011, easing concerns over a possible property bubble. This is based on data from the Purpose Built Office Rent Index Wilayah Persekutuan Kuala Lumpur (PBO-RI WPKL) produced by National Property Information Centre (Napic), a unit under the Valuation and Property Services Department of the Finance Ministry. The first edition of the index will be launched today by Deputy Finance Minister Datuk Dr Awang Adek Hussein. Napic director Dr Zailan Mohd said the index, the first of its kind in Asean, would be used as a tool to gauge the health of the country's economy. It was also created to attract multinational companies to set up headquarters here, she said.

(NST-17 July 2012)

MK Land to build affordable houses even in downturn Top

MK Land Holdings Bhd (MK Land) says there will always be a demand for affordable houses and will continue to build them even during an economic downturn. Chairman Tan Sri Mustapha Kamal Abu Bakar said the company has a 2,800 ha landbank on which 114,000 houses can be built and will focus on Selangor, Perak and Kedah. He told reporters after presenting the keys to 169 one-storey terrace houses at Meru Perdana phase 2 here today that MK Land has completed 44,479 houses valued at RM5.6billion, including some 30,000 affordable units. A total of 269 terrace houses are being built using IBS at Meru Perdana, he said, adding MK Land will build 2,300 houses valued at RM500 million in the next two years. (NST-20 July 2012)

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Setia Haruman to focus on purpose-built buildings Top

Setia Haruman Sdn Bhd, the master developer of Cyberjaya, will focus on purpose-built buildings to generate recurring income. Purpose-built buildings are developed according to a prospective tenant's requirement. Setia Haruman chairman Tan Sri Mustapha Kamal said such types of buildings can be part of a real estate investment fund (REIT) portfolio. Mustapha said Cyberjaya offices are attractive for investors as they have between seven per cent and eight per cent yield. Average rental there, including service charges, is about RM5.50 per sq ft. Setia Haruman plans to build more residential, commercial and entertainment units in the coming years for its current 50,000 strong community. (NST-20 July 2012)

Medini Iskandar to build condos with Chinese firm Top

Iskandar Investment Bhd (IIB)'s subsidiary, Medini Iskandar Malaysia Sdn Bhd, has teamed up with China's Zhuoda Real Estate Group to build 2,600 units of high-end condominiums in Medini, Johor. The condos, with an estimated gross development value of RM2.6 billion, will be developed over two phases and completed in five years. The project, Zhuoda's maiden overseas venture, will be undertaken by a joint-venture company - Zhouyuan Iskandar Sdn Bhd in which Medini Iskandar has a 20% stake. The project, tentatively named Medini International, will be built at a cost of between RM600 million and RM700 million. Sales of the units, the cheapest of which in Phase One is expected to be sold at around RM1 million, will be targeted mainly at Singaporeans, Chinese, Malaysians, Koreans and the Japanese. (NST-20 July 2012)

Posh living at Shaftsbury Square Top

The Shaftsbury Square here is set to provide lifestyle retail outlets, office towers and service apartments to cater to the township's growing population. The development was named after a popular hangout for local students in Belfast, Ireland. The project under Shaftsbury Capital Sdn Bhd, is a wholly owned subsidiary of Ikhasas Sdn Bhd. The development houses 145 retail outlets consisting of eateries, banks and also a music and arts academy. Shaftsbury Square is an integrated development on a 5.29-hectare freehold land. Besides the retail outlets, it houses two blocks of posh small office and home office (SOHO) serviced apartments. (NST-20 July 2012)

Latest project in TTDI linked to bus and LRT network Top

A chic and green-inspired condominium in a unique triangular design will soon be another landmark in Taman Tun Dr Ismail. The proposed 26-storey tower is being developed under a joint venture inked recently between Syarikat Prasarana Negara Bhd and Naza TTDI Sdn Bhd. The projects will mostly be linked to Prasarana’s network of bus and LRT routes to foster transit-oriented developments.

The tower will contain 186 units with sizes ranging from 650sq ft to 1,200sq ft to meet the needs of young executives and families. The project’s gross development value is RM153million. An infinity pool, pool deck, floating gym, meditative rooftop garden and maze garden with barbeque facilities are among the features provided to cater for the active and healthy lifestyle urbanites. Faliq said construction should commence in the first quarter of 2013, with completion in 2016. The units are expected to be priced at RM950 per sq ft.

(The Star-20 July 2012)

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Sepang Goldcoast inks deal with Chinese firm Top

China’s Zhejiang Zhongxia Investment Co Ltd has inked a deal with Sepang Goldcoast Sdn Bhd (SGSB) to develop tourism properties worth RM1 billion at the Sepang GoldCoast develop-ment in Bagan Lalang, Sepang, Selangor. Zhejiang executive director Xu Yong said the company will build beach residences, comprising six 18-storey towers with over 1,000 units. Zhejiang will also develop a Fisherman Wharf commercial street, modelled after the Fisherman Wharf in San Francisco and Hong Kong. Xu Yong said the total investment in the project will be around RM700 million, with the financing coming from China. He added that the project will be developed in four phases over five to six years, starting early next year. (NST-21 July 2012)

Sunway shines with green concept Top

Both the property and construction company's Rymba Hills in Sunway Damansara and Sunway Montana @ Desa Melawati feature sizeable private forests and well-planned park-inspired environments that adopt the LOHAS (lifestyles of health and sustainability) concept. Sunway Rymba Hills, which is a joint venture with Selangor State Development Corp (PKNS), consists 80 units of leasehold three-storey villas on 19.72 acres in Sunway Damansara, Petaling Jaya. The villas have standard lot sizes of 45 x 90 ft, and gross built-ups ranging from 4,442 to 4,650 sq ft. Gross prices range from RM4million to RM4.9million per unit. The group recently launched the first phase of the 56-acre Sunway Montana @ Desa Melawati, Kuala Lumpur. The development will have terraced villas and semi-Ds on elevated freehold land, with a 14-acre private forest. Selling priced from RM1.7million to RM2.7million. (The Star-21 July 2012)

The Haven set for completion mid-2013 Top

The Haven, the luxury lakeside residence in Tambun, Ipoh is set for completion by the middle of next year, said The Haven Sdn Bhd chief executive officer Peter Chan. He said the group was the first developer to conduct a “topping-out” event for the three towers simultaneously, and construction of the project was ahead of schedule. The project has surprised many people with its speedy sales and construction by topping out all three towers concurrently. The Haven is Perak’s largest and tallest residential condominiums. Chan said that out of the 500 units, over 75% has been sold while another 100 units were still available with each unit costing between RM600,000 and RM3.8million. The project, with three 26-storey towers, started in 2010. (The Star-23 July 2012)

Grand Hyatt KL may open as early as August Top

The five-star Grand Hyatt Kuala Lumpur, the first Hyatt hotel in the capital, could open its door as early as this Hari Raya in August. The 412-room hotel is currently taking bookings for stays beginning September 1 2012. Located on Jalan Pinang next to the Twin Towers and the Kuala Lumpur Convention Centre, the hotel's target market is the corporate and meeting, incentive, convention and exhibition (mice) crowd. The hotel is located within Menara Darussalam. The minaret includes 200,000 sq ft of office space located in the third to 15th floor. The hotel has over 3,300 sq m of meeting space and can even allow for a car to be driven directly into the ballroom. (NST-25 July 2012)

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Jaya33 Cybercentre awarded MSC status Top

Jaya33 Cybercentre has become the first mixed commercial building in Section 13, the new Golden Triangle of Petaling Jaya, to be awarded the Multimedia Super Corridor (MSC) Malaysia Cybercentre status by the Ministry of Science, Technology and Innovation. "Our MSC-status certified tenants at Jaya33 Cybercentre can now have access to incentives under the MSC Bill of Guarantees including freedom of ownership, unrestricted employment of knowledge workers and no income tax or investment tax allowance for up to 10 years," Jaya33 Sdn Bhd managing director Che King Tow said in a statement. The MSC Malaysia Cybercentre status is a prestigious award given to niche business locations that meet the MSC Malaysia standards and criteria to deliver the MSC Malaysia Bill of Guarantees to MSC Malaysia status companies. (NST-25 July 2012)

Luxury in Bandar Mahkota Top

PDMC Group has invested RM60million to RM70million so far to develop The iResidence, the first luxury condominium, in Bandar Mahkota Cheras. The project developed by Myproperty Builders Sdn Bhd (owned by PDMC group) sits on a 1.07ha plot of freehold land and comprises an 18-storey tower with 222 standard and duplex units. The development offers six layouts with built-up areas from 1,022 sq ft to 2,519 sq ft. The price of each standard unit ranges from RM350,000 to RM520,000, while each duplex unit costs RM620,000 to RM850,000. Currently, 50% of the units have been booked. There is also a three-storey carpark that has 490 bays. (The Star-26 July 2012)

MCT aims to change USJ’s skyline with One-City project Top

There is nothing quite like knowing that your project will alter the skyline of a township. Such is the achievement that awaits property developer MCT Consortium Bhd as it labours to complete its flagship project, One-City, over the next few years. MCT executive director Danny Goh calls One-City the jewel in MCT’s crown. The 77-acre integrated commercial development located in USJ has an estimated gross development value (GDV) of RM3.6billion.

One-City will consist of retail space, an entertainment hub, office suites and towers, a hotel, lavish serviced apartments and conferencing facilities. According to Goh, One-City is the biggest and most complete development in USJ. The development of One-City started in 2008 and is expected to be completed in 2016. MCT has already completed the first phase of One-City, which mainly consists of shop lots and a central park. The second and third phases will be completed next year with components such as the Sky Park, hotel, corporate space, retail space and the boutique mall. (The Star-27 July 2012)

Transforming Port Dickson Top

Port Dickson is set to undergo a major transformation to become a revitalised, vibrant tourist attraction as TSR Capital Bhd has invested more than RM1billion for a waterfront project in the seaside town. Datuk Wan Abd Razak Ismail, director of TSR Ocean Park Sdn Bhd, said that the project, to be completed within 10 years, will feature a modern and sophisticated concept to boost tourism in Malaysia. TSR Ocean Park is a wholly-owned subsidiary of TSR Capital. The PD Waterfront project, a fully integrated development covering 60 acres, will feature shopping, food and beverage, accommodation, and entertainment outlets aimed at drawing tourists and locals alike. The total gross development value (GDV) of the whole project is expected to reach RM1.07billion.

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In the first phase of the project, with a supermarket, restaurants and beach front retail shops, has already been completed. Restaurants and franchise businesses such as, McDonald’s, Tutti Frutti, Dominos’ Pizza, Papparich, and restaurants offering foreign cuisine have opened for business. Another 64 units of shophouses are near completion, with 70% allocated for non-bumiputera investors. Once completed the shophouses will offer up to 130,000 sq ft of leasable space. Moving forward, the company is proposing to develop serviced suites, hotels and a range of small office/flexi office units by the end of the year to cater for the growing number home buyers, young professionals, investors as well as tourists who come to Port Dickson. (The Star-27 July 2012)

Kompleks Dayabumi to be refurbished Top

Refurbishment work on the 29-year-old Kompleks Dayabumi is being carried out, with a new office tower to be the most notable change. KLCC Property Holdings Bhd chief executive officer Hashim Wahir said the building, owned by Kompleks Dayabumi Sdn Bhd (a subsidiary of KLCC Property Holdings Bhd), is currently undergoing the second phase of the refurbishment project. "The construction of a new tower will also be carried out as part of the redevelopment project of the building's annexed City Point (the six-storey office and retail podium)," he said.City Point is currently being demolished to accommodate the tower construction.

(NST-27 July 2012)

High demand for high rise Top

Lee Onn Construction Company, which has built some 3,000 units of residential properties in Kuching, is embarking on several more high-rise apartments and condominiums to ride on the rising demand. Managing director Tan Guek Kee says Lee Onn has completed five medium to high-end apartment projects in recent years and is currently developing two more apartment projects D'Infinia Residences and Ensyn Avenue and a condominium project called D'Jewel along Jalan Sharip Masahor in Kuching. D'Infinia Residences along Jalan Lapangan Terbang comprise 45 units in seven-storey blocks and features amenities like a swimming pool, gym and a playground. The three-bedroom units are sold starting from RM533,000 and would be ready by year-end. Ensyn Avenue consists of 111 units of three- to four-storey apartments. The medium range apartments along Jalan Stapok are sold from RM225,000 each. D'Jewel, with gross development value (GDV) of RM90million, will have two tower blocks housing 118 units. The towers house three- to four-bedroom units from 1,800 sq ft priced from RM715,000. The penthouse units covering some 4,000 sq ft each are sold for about RM1.98million.

(The Star-28 July 2012)

Crescendo to launch Johor township with GDV of RM3bil Top

Crescendo Corp Bhd is preparing to launch its Bandar Cemerlang Township, a development spanning 1,390 acres in Johor. The project will have a gross development value (GDV) of RM3billion over 10 to 15 years. "We will start with some medium-cost houses in phase one and these will have a GDV of about RM150million. "The township is strategically located near Ulu Tiram town and can be accessed via Johor Baru-Kota Tinggi Highway," said managing director Gooi Seong Lim after the company's AGM. Crescendo is also enjoying good demand for its Nusa Cemerlang Industrial Park (NCIP) in view of Singapore government's strategy to relocate some of its medium and small industries to Johor. (The Star-28 July 2012)

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New Bangsar high-rise raises concerns Top

Residents in Bangsar are concerned about a proposed 40-storey development in Jalan Tandok. They are worried that the high-rise development next to the former Unilever site may cause traffic congestion in the area. They feel that the new development will increase the traffic flow here coming in from Jalan Bangsar and Mid Valley Megamall. City Hall has put up a signboard in Jalan Tandok, stating that a developer is proposing to change the land use in the area from industrial to commercial. The board also states that the developer is proposing to build a 40-storey service apartment with 495 units with a six-storey podium car park and a two- storey shop lot. It also stated that written objections for the proposed development had to be submitted by July 26. (NST-31 July 2012)

YTL opens resort off Sabah Top

YTL Hotels has started operating the first of its two planned luxury resorts on islands off Borneo. The diversified group started operating the Gaya Island Resort on July 1, YTL's first luxury property which it also owns in Sabah and Sarawak. The resort, built at an estimated cost of RM75 million, offers a total of 120 villas and a two-bedroom suite. Gaya Island Resort general manager Jeffrey Mong said the resort is targeting guests from the UK, Europe, Australia, Japan, Hong Kong, Singapore and Malaysia. The resort is expecting to garner an average room rate of above US$350 (RM1,102) and an average occupancy of over 50% in its first year of operation. There are 52 units of Kinabalu Villa with views of South China Sea and 40 units of Canopy Villa which are located on the hillside. Another 24 units called Bayu Villas are set amongst the tropical mangrove on sloping hill offering and yet a mere walking distance from the resort's pristine sandy beach. (NST-31 July 2012)

Raising KL’s financial stature Top

Kuala Lumpur is set to be a leading global centre for international finance, trade and services with the launch of the RM26 billion Tun Razak Exchange (TRX) by Prime Minister Datuk Seri Najib Razak yesterday. Najib said more than RM3.5 billion worth of foreign direct investment would flow into the country under phase 1 of the development of TRX, a critical enabler and important catalyst for the government’s Vision 2020 and Economic Transformation Programme initiatives. A 28ha haven for new investment opportunities, TRX would include world-leading international design and progressive planning tenets, said Najib. Its buildings and infrastructure would conform to the highest levels of sustainability, pedestrians could walk and play in green public areas, and it would have seamless links to public transportation, including the mass rapid transit project, which was under construction, he added. (NST-31 July 2012)

Parts of new Cyberjaya development open for registration Top

Crystaville Sdn Bhd will be investing RM180million to build a integrated development called Vita @ Cyberjaya. Spanning 5.26ha, the project located at the heart of Cyber- jaya’s central business district (CBD) is equipped with various business centres as well as entertainment and relaxation outlets with modern designs. Corporate advisor Datuk Azman Mahmood said the project will cater to young entrepreneurs who wanted to start their own businesses and also first-time homeowners.

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The Vita project’s first phase will consist of 2.55ha of freehold commercial units, offices and a 15-storey La Vida Soho building. The first phase itself is separated into three developments, with phase 1A comprising 58 units of shops and offices, phase 1B of 39 units of shops and offices, andphase 1C with the 15-storey, 345 unit La Vida Soho. Phase 1A will feature four-storey commercial units. Each unit will have built-up areas of 2,600 sq ft to 3,000 sq ft. Spreading out over 10 blocks, the retail and office units have a duplex layout. Right above the commercial units is the La Vida Soho. The 450 sq ft-Soho suites are priced from RM280,000 to RM350,000 each with facilities such as a rooftop infinity pool. (The Star-1 August 2012)

Plans for Heritage Square in Penang Top

The state government and Penang Development Corporation (PDC) plan to transform a 1.82ha plot of land, including the old Sia Boey market here, into Penang’s new heritage enclave. Chief Minister Lim Guan Eng said the new enclave would be known as Heritage Square, a project under the Komtar Phase Five development. He said the move was in line with George Town’s World Heritage Listing and would complement the revitalisation of Komtar as a socio-civic centre and business hub of the state. Lim said the project had five major elements – restoration and expansion of Sia Boey (Prangin Market), creation of urban spaces, a heritage celebration square and an iconic George Town heritage centre, reinstatement and adaptive reuse of old shophouses and restoration of the Prangin Canal. (The Star-1 August 2012)

500,000 expected to visit Puteri Harbour park in year one Top

Khazanah Nasional Bhd's leisure unit, Themed Attractions and Resorts (TAR), can make as much as RM35 million in ticket sales at Puteri Harbour Family Park in the first year of operations. The family theme park, which will include Sanrio Hello Kitty Town, The Little Big Club and Lat's Place, is expected to draw some 500,000 visitors within a year following its opening in mid-November. TAR chief executive officer Tunku Ahmad Burhanuddin expects 55:45 split between locals and foreigners at the park. Investment into the three attractions is to the tune of RM115 million. It will be housed within a four-storey building in Puteri Harbour in Nusajaya covering 80,000 sq ft. Others parks which TAR is scheduled to own and operate include the RM257 million Ocean Splash and Ocean Quest parks in Desaru, Johor. (NST-1 August 2012)

Amcorp Properties in joint venture to invest in real estatein London Top

Amcorp Properties Bhd is the latest to venture into the London property market. The company announced that it had entered into a joint venture (JV) to acquire a freehold property in London via wholly owned subsidiary Old Burlington Ltd (OBL) with NL (Pollen) Ltd and HPL (Mayfair) Pte Ltd. The company's investment portion would amount to a maximum of £23.75million (RM117.6million). OBL, together with NL and HPL, formed a JV company to acquire the property from Standard Life Assurance Ltd for £85million. The JV company, Ten Acre (Mayfair) Ltd, plans to redevelop the property for residential use. A further £5million will be considered for the conversion of the property for that purpose. The property is located east of Mayfair, which boasts as a prestigious retail and residential area in London. "The property comprises a mid-terraced, Mayfair office building totalling 83,024 sq ft of commercial accommodation over basement, ground and eight upper floor levels. The ground and basement comprised restaurant and gallery tenants with office accommodation on the upper floors," said Amcorp Properties. (NST-3 August 2012)

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Hua Yang sees RM872m revenue from BUSI Top

Property developer Hua Yang Bhd expects to generate revenue of some RM872 million, which would keep them busy for the next 12 years at the 196ha site in the fast developing Bandar Universiti Seri Iskandar (BUSI). BUSI, located at Perak Tengah district, about 30 minutes drive from here, was derived from educational institutions located in the area like Universiti Teknologi Petronas (UTP), Universiti Teknologi Mara (UiTM), Kolej Profesional Mara and others like Sekolah Menengah Teknik Seri Iskandar and National Youth Skills Training Centre. The project, which is adjacent to Tesco hypermar-ket, comprises 123 units of two- and three- storey buildings, each priced between RM598,800 and RM1.56 million. The ongoing new phases include Tropika double-storey terrace houses, Bandar Universiti Business Centre (BUBC) and double-storey shop offices. Other projects in the pipeline are double-storey Sierra Homes and single-storey Seri Idaman units.

(NST-3 August 2012)

E&O plans RM1b projects Top

Eastern & Oriental Bhd (E&O) will be launching three more condominium projects with a total gross development value of about RM1 billion, within the next six months. The projects will include the first phases of its properties in Kuala Lumpur, Johor and Penang, said deputy managing director Eric Chan. The Kuala Lumpur project is located on a half hectare land on Jalan Yap Kwan Seng, while the Johor one is the first part of the RM3 billion Medini Integrated Wellness Capital in Iskandar Malaysia. The Penang project is the group's second tower for its Andamam at Quayside condominiums. (NST-3 August 2012)

UDA resort in Pekan to be ready in 2013 Top

The construction of a 4-star resort costing RM80million in Pekan, Pahang, is expected to be completed by the second quarter next year. UDA Holdings Bhd senior vice-president of property development division, Shytul Shahryn Mohamad Shaari, said the seven-storey resort in Kg Peramu was 50% complete.

(The Star-4 August 2012)

Chartis narrows it down to two buildings Top

Chartis Insurance Malaysia Bhd is said to be close to picking either Menara Worldwide or Cap Square Tower as its new corporate office in Kuala Lumpur. Sources told Business Times that the two office towers fit the insurer's requirement - able to accommodate more than 3,000 employees and have the Multimedia Super Corridor (MSC) status. It was learnt that Chartis needs close to 200,000 sq ft of office space to house all of its staff under one roof. Menara Worldwide in Bukit Bintang is a 27-storey office block with a net lettable area of 250,000 sq ft. The Grade A tower is owned by Worldwide Holdings, a subsidiary of the Selangor State Development Corp, and was completed in 2010. Meanwhile, Cap Square Tower is a 41-storey office tower with a net lettable area 601,574 sq ft located directly opposite Chartis' existing office in Jalan Ampang. Realtors said both office towers could fetch rental rates above RM6 per sq ft, which are negotiable in a long-term lease involving large space. (NST-4 August 2012)

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IJM Land in UK venture Top

IJM Land Bhd is venturing into the United Kingdom via a joint venture to build a five-star hotel and residential apartments that will have a gross development value (GDV) of £280million (RM1.4billion). The company told Bursa Malaysia yesterday it had entered into a shareholders' agreement with Lite Bell Consolidated Sdn Bhd to form a joint-venture company, Mintle Ltd, in Jersey to acquire a 999-year lease over a 2.7 acre site with detailed planning consent for about 650,000-sq-ft space. The site is predominantly situated above the National Rail and DLR railway lines adjacent to the Royal Mint Street in central London. IJM Land said the project, when completed, would have “excellent views of the popular London landmarks such as Tower of London, Tower Bridge, Royal Mint Court, St. Katharine's Docks and River Thames.” (The Star-4 August 2012)

DreamWorks plans U$3.2b theme park in Shanghai Top

DreamWorks Animation yesterday said it plans to build a US$3.2 billion (RM9.8 billion) theme park in Shanghai, as the US film giant seeks to bolster its presence in the booming Chinese entertainment market. The studio's newly formed China joint venture, Oriental DreamWorks, is set to open the theme park in 2016, the creator of megahits like "Shrek" and "Kung Fu Panda" said in a statement. The 20 billion yuan (RM9.8 billion) project - called the Dream Centre - will comprise entertainment facilities, animation exhibitions and commercial developments including hotels and shopping areas in Shanghai's Xuhui district, it said. The announcement comes after Walt Disney, another US entertainment giant, last year broke ground on a planned US$3.7 billion theme park in Shanghai which is scheduled to open in 2015. (NST-8 August 2012)

PHB shelves proposals for Bangsar land Top

Pelaburan Hartanah Bhd (PHB) has shelved all proposals from several companies to develop a prime 8.09ha site on Jalan Bangsar in Kuala Lumpur, its chief said. PHB, a unit of Yayasan Amanah Hartanah Bumiputera and Mayban Investment Management Sdn Bhd, owns the land where the Unilever headquarters and factory once sat. It has received proposals from companies like Mah Sing Group Bhd, Malaysian Resources Corp Bhd (MRCB), SP Setia Bhd, UEM Land Holdings Bhd and Land & General Bhd. (NST-8 August 2012)

Mah Sing may land up to RM150m deals in Klang Valley Top

Mah Sing Group Bhd is expected to ink one or two deals to buy land in the Klang Valley for between RM100 million and RM150 million in the next quarter, sources said. The group is targeting to acquire land with gross development value (GDV) of RM5 billion this year. It has acquired land in Rawang, Kota Kinabalu and Bandar Baru Bangi for a combined RM452.3 million, which is 73% of its GDV target. Mah Sing would need another RM1.4 billion in GDV to achieve its full-year target. Assuming the land cost is also about 12% of the GDV, it equates to about RM150 million.. (NST-8 August 2012)

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SPNB to deliver 10,000 homes Top

Syarikat Perumahan Negara Bhd (SPNB) is focusing on delivering 10,000 houses this year under the 1Malaysia People-Friendly Home (RMR1M) programme. Managing director Datuk Kamarul Rashdan Salleh said there were 14,000 applicants under the programme, which was developed to help low-income earners, such as fishermen and farmers, who own a piece of land. To qualify, household income of applicants must not exceed RM3,000 per month. Other conditions include not having a house or living in an old, incomplete or dilapidated house. (The Star-8 August 2012)

RM1b to rev up Proton City Top

DRB-HICOM Bhd will invest RM1 billion to bolster development at Proton City in Tanjung Malim, Perak, in the next five years. A new commercial hub, a secondary school and other facilities will be developed at the 1,618ha site, located north of Tanjung Malim. Perak Menteri Besar Datuk Seri Zambry Abd Kadir said Proton City will also be a production site soon for at least two more brands, besides Proton. Zambry said for the last 15 years, development at Proton City had slowed down. Only 30 per cent of the area set aside for Proton City has been fully developed. (NST-9 August 2012)

Islands of architectural design Top

SP Setia Bhd recently launched three phases of its Setia Eco Glades in Cyberjaya. The project is a joint venture between SP Setia and Setia Haruman Sdn Bhd. The development sits on 108.45ha of freehold land and has a projected Gross Development Value of RM3billion. Phase A1 — Liu Li — comprises 104 linked villas each with a built-up area between 263.4 sq m and 290.8 sq m. Phase B, called Lepironia Gardens, will have 104 semi-detached houses with built-up areas of 302 sq m. The third phase, Charm of Nusantara, takes its inspiration form traditional Balinese architecture and will have 30 linked villas, 34 semi-detached houses and 11 bungalows. Charm of Nusantara is also called an “island” phase as it sits beside an artificial lake. The Liu Li linked villas are priced from RM1.1million, whereas the semi-detached houses in Lepironia Gardens start from RM1.7million. The price for Nusantara’s linked villas is from RM1.2million while its semi-detached houses command a starting price of RM1.8million and bungalows are priced from RM2.4million.

(The Star-10 August 2012)

New development in Seri Kembangan offers a unique feature Top

Trinity Group’s new development project Zeva at Equine South (Zeva) is set to bring new exciting vibes to Seri Kembangan. Zeva is a mixed development on 1.3ha of leasehold land.There are three residential blocks — Block A and B with 446 units of serviced-apartments and Block C with 320 units of studio apartments. The serviced-apartments were launched earlier this year and to-date is 90% sold. This month, the developer will be launching its studio apartment units. The studio units with built-up areas of 455sq ft to 638sq ft feature a unique glass deck on the rooftop. The deck is made of strong glass and has a dedicated lift that takes visitors to the deck that provides an aerial view of Putrajaya. Trinity Group managing director and founder Datuk Neoh Soo Keat said this was one of the highlights of the development. (The Star-10 August 2012)

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I-Berhad to fast track i-City Top

I-Berhad is speeding up the developments of its RM5 billion i-City project in Shah Alam, Selangor. Executive chairman Tan Sri Lim Kim Hong said the company had also been approached by several parties to replicate the i-City project in other cities. The 42ha i-City is a knowledge and tourism project with 18 office towers and residences, three hotels, a one million sq ft mall, a cybercentre, shop offices and retail units. It will also have several leisure components like a snow walk, a theme park and a waterpark. It will also have several leisure components like a snow walk, a theme park and a waterpark. The project is 20% completed.

In the next six months, I-Berhad will start building Soho (small-office-home-office) and Sovo (small-office- versatile-office) units, the mall and a three-star hotel. There will be a total of 950 Soho and 220 Sovo units, with combined gross development value (GDV) of close to RM600 million. For the mall and hotel, Lim said I- Berhad was expected to ink a deal within the next two to three months with international operators to jointly build and manage the properties. (NST-13 August 2012)

Encorp to expand landbank Top

Encorp Bhd, which currently has a total landbank of 107.36ha, is looking for more land in Malaysia and in the region. For this year, Encorp will be developing the integrated resort and international golf course in Cherating, the launch of Encorp Marina at Puteri Harbour in Johor and Encorp Ferringhi in Penang. On the recent acquisition of land in Perth, Australia, Effendi said it will keep the group busy for the next five to eight years. Encorp recently bought a 11,000 sq m property in Perth for about RM18.54 million to be developed into a mixed residential and commercial project. The project will have a gross development value of A$13 million (RM42.77 million) with construction expected to begin in the second quarter of 2014 and completed by 2017.

(NST-14 August 2012)

Plans for 'no frills' homes Top

Malaysia is mulling to build its first affordable "no frills" houses so that the rakyat can own homes of their own. Mooted by the Real Estate and Housing Developers Association Malaysia and the Housing and Local Government Ministry, the house will be 30% cheaper and will be custom-finished by the owner. Immediate past president Datuk Ng Seing Liong said the house will be "naked" but equipped with basic amenities such as the kitchen and the toilet but there will be no partitions to segregate the rooms. Ng said the no frills house will be 30 per cent cheaper than the current affordable home price tag of between RM80,000 and RM350,000. Ng said the concept is not new and has been introduced in China and the Philippines. He said all parties are discussing on it at the moment. (NST-15 August 2012)

Sentoria to develop resort in Kuantan Top

Sentoria Group Bhd will develop a resort called Global Heritage South in Kuantan, Pahang, with a gross development value of over RM300 million. The development will include two and three-storey resort villas, a clubhouse and a boutique hotel. (NST-16 August 2012)

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A Majestic revival Top

In Kuala Lumpur, Jalan Sultan Hishamuddin is poised for a revival when the restoration of the Hotel Majestic property, including a new 15-storey annexe, is completed by YTL Corporation Bhd by December. The modern 330-room annexe block will complement the original low-rise building designed by Dutch architect Von Leangeanderg and built in 1932. A subsidiary registered as YTL Majestic Hotel Sdn Bhd is undertaking the new hotel project with GSD Architect and GSD Interiors Sdn Bhd. This KL project certainly fits in with other YTL heritage property projects under its classic hotels collection such as The Majestic Malacca with charges RM380 to RM1,880 per night. According to YTL Hotels spokesperson Izan Yusof, the “300-room hotel” will open on Dec 1 as the Majestic Hotel Kuala Lumpur. (The Star-17 August 2012)

SP Setia plots RM154mIL landed homes in Balik Pulau Top

SP Setia Bhd is looking to launch landed properties within a gated community in the once-sleepy hollow of Balik Pulau next year. The residential project, which is expected to carry a development value of RM154 million, will comprise 250 units of semi-detached, super-link and terraced double-storey homes over 8ha in Bukit Genting. "We are looking to price the terraced units at between RM600,000 and RM700,000 each," said SP Setia Property (North) general manager Khoo Teck Chong. He said the project will be completed 36 months from its date of launch. Khoo said the yet-to-be-named Balik Pulau housing project is one of several projects that SP Setia will be launching during its 2013 fiscal year, which ends Oct 31. Others projects include the QBees high-rise condominium project at Teluk Kumbar on Penang island. The project, comprising 98 condominium units, will be sited on a 1.2ha plot and carry a gross development value of RM50 million.

(NST-18 August 2012)

Malaysia’s very own 90210 Top

Inspired by Beverly Hills, California, GD Development Sdn Bhd and Debao Property Development of China, launched their inaugural residential project, Green Beverly Hills in Nilai, Negri Sembilan. The joint-venture project is for a freehold, gated-and-guarded development comprising two high-rise condominiums and eco- friendly private villas. The projects Garden Villas and Water Villas will be surrounded by luscious green hillsides and a natural lake respectively. The Garden Villas will enjoy spacious six-bedroom home with built-up areas from 3,858 sq ft within a land area of 5,257 to 10, 211 sq. ft. Garden Villa prices start from RM 1.9mil. The second style of private villas is a seven-bedroom, waterfront home built besides a natural lake. Filled with sleek luxury and spaciousness, each Water Villa features a majestic lakeside view and a private lift that enhances convenience. The Water Villas will occupy land areas of 4,005 to 11,539 sq ft with built-up areas of 4,769 sq ft and are priced from RM 3.16million onwards.

The development will also have two 25-storey towers that will offer fully furnished units complemented with designer glass walls and windows, and luxurious amenities. Dubbed as sky bungalows, both towers will be shaped like a six-petalled flower combining modern architecture and auspicious feng shui elements. Each tower will have an infinity pool and four different unit layouts between 930 and 1,800 sq ft with prices ranging from RM390,000 to RM780,000. According to GD Development’s co-founder Datuk David Yeat Sew Chuong, the residential development has seen a 70% take-up rate. The first phase of the two towers will be completed within the next 20 months. (The Star-18 August 2012)

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Suria KLCC to be extended Top

The Suria KLCC will have its mall extended with an interconnected four-storey retail building by 2017. The extension will be built between Suria KLCC and the Assyakirin mosque on Lot 185 that faces the KLCC Park. The upcoming retail outlet will be part of a mixed commercial development that will also include a hotel and office units. The construction works are already under way. The retail area will take up 10% of the space in the extension. Altogether 3,500 new parking bays will also be built. The new development is part of the KLCC Holdings Sdn Bhd's master plan for the iconic mall. (NST-24 August 2012)

RM420m upgrade for Subang Skypark Top

Subang Skypark Sdn Bhd is set to embark on a RM420 million ambitious infrastructure development plan to transform the former Sultan Abdul Aziz Shah Airport, now known as Subang Skypark, into a full-fledged aerospace city by 2015. Its executive director Tan Sri Ravindran Menon said the company is planning to utilise between four and 4.8 hectares of land opposite Terminal 3 to build a boutique hotel, an aviation museum and theme park as part of a retail mall. He added that Skypark Nexus, which will be completed in 24 months, is budgeted to cost between RM300 million and RM350 million. Ravindran said the proposed retail mall and hotel will be between four- and five-storey high and Subang Skypark is now talking to the local government to widen the main roads fronting the proposed development to avoid traffic congestion. (NST-24 August 2012)

RM50m 'hornbill hotel' in pipeline Top

A property developer plans to build a hotel in the shape of a hornbill, costing about RM50 million, on Pulau Kerto - the largest of three islands on the Sungai Rajang. The hotel could be up to 15 storeys high. At that size, Datuk Joseph Ting King Sung said his hotel could be an iconic landmark and further enhance the tourism potential of the riverine town. Ting said that once he has had the necessary approvals from the state government, he hoped to start work on the project by next year. (The Star-26 August 2012)

Point 92 ready for occupation in Sept Top

Point 92 may be the only purpose-built office with certificates for both a Green Building Index (GBI) and MSC- status coming into the Petaling Jaya market over the next 12 months. The Grade A building, located in Damansara Perdana next to the PJ Trade Centre will be ready for occupation in mid-September. Zerin Properties' head for mergers and acquisitions-business space Shuchita Balasingam said that the building is already MSC compliant and is awaiting its MSC certification. Point92 is already GBI certified. Point 92, so named because of the 0.92 acre (0.37ha) land it sits on, was developed by Tujuan Gemilang Sdn Bhd. It was then acquired by Obyu Holdings Sdn Bhd, an investment company with business in development and oil palm. The 19-storey building has 203,000 sq ft of gross floor area and a total net lettable area of 155,000 sq ft. According to Shuchita, the rental at the building including service charge would be between RM4.80 and RM5.80 per sq ft. (NST-27 August 2012)

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Magna Prima plans RM1b jobs Top

Magna Prima Bhd, a niche property developer, has lined up several new launches in Kuala Lumpur and Selangor with a projected gross development value (GDV) of more than RM1 billion. First out of the blocks will be Phase II of a residential tower at the Boulevard Business Park in Jalan Kuching, Kuala Lumpur. Magna Prima chief executive officer Datuk Rahadian Mahmud Mohammad Khalil said the project will see the construction of 330 units of serviced apartments with a GDV of RM220 million. Rahadian said the company plans to hold a soft-launch for the project soon and, similar to its previous launches, the developer is confident of securing a high take-up rate for the units. The units are priced at between RM414,200 and RM832,000 each.

(NST-27 August 2012)

IJM Land has funding for London joint venture Top

IJM Land Bhd has secured the necessary funding for the RM1.4 billion joint-venture property development project in London and expects to start selling the properties within the next 12-15 months. The company will fund the project via internally generated funds and bank borrowings. The project, which has a gross development value of STG280 million (RM1.37 billion), comprises a five-star hotel and residential units. Early this month, IJM Land had entered into a shareholders' agreement with Lite Bell Consolidated Sdn Bhd to form a joint-venture company in Jersey - Mintle Ltd - to acquire a 999-year lease over a 1.09ha site. For the financial year ending March 31 2013, the company plans to launch some RM2 billion worth of property projects, of which more than RM1.2 billion worth of projects have yet been launched. These projects are located in Seremban, Shah Alam, Penang, Johor and also East Malaysia. (NST-28 August 2012)

RM100m hospital for Bachok next year Top

A new hospital for Bachok, announced recently by Prime Minister Datuk Seri Najib Razak, will be built next year. Deputy Finance Minister Datuk Awang Adek Hussin said the hospital would also serve residents in areas such as Telaga Ara, Permatang Pasir, Beah and Alur Ganu. He said the villagers now had to rely on Raja Perempuan Zainab II (RPZII) and Universiti Sains Malaysia hospitals. Both are about 40km from Bachok. . (NST-28 August 2012)

I-Berhad swings to half-year pre-tax profit of RM3.92m Top

I-Berhad, developer of the RM5 billion i-City project in Shah Alam, Selangor, reported a half-year pre-tax profit of RM3.92 million, compared to a loss of RM369,000 in the same period last year. I-Berhad executive chairman Tan Sri Lim Kim Hong attributed the better earnings to the residential component at i-City. The company launched the west wing of i-Residence, a high-rise project worth RM225 million, in May and has fully sold the units. Lim, who owns a 65 per cent stake in I-Berhad, expects a similar response from the east wing and villas of i-Residence, which have been released this month. Besides i-Residence, I-Berhad has fully sold the small-office-versatile-office (i-SOVO) units worth RM65 million. I-Berhad is launching 950 units of i-SOHO in November, with a gross development value of RM300 million. (NST-28 August 2012)

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Raffles' foray into primary education Top

Singapore-based Raffles Education Corporation, through its subsidiary Raffles K12 Sdn Bhd, is making its first foray into primary education in the country. The Raffles American School (RAS), which is currently operating at the Anjung Campus in Nusajaya, will move to the campus site (also in Nusajaya) which sprawls 18.18 hectares when it is completed in two years time (2014). The company's superintendent Dr Rob Mockrish said the campus could accommodate 2,000 students when ready. The development, nestled amongst the lush rolling hills of Iskandar Malaysia, will adopt the green concept with louvers to filter ample daylight into classroom spaces. (NST-29 August 2012)

A home away from the city Top

Future home owners who are looking for an exclusive house away from the hustle and bustle of the city might find Harmony Park in Dengkil, Selangor a good place to start. Property developer KIP Group is investing RM80million in the housing project featuring 114 units of double-storey semi-detached houses and four double- storey bungalows. Sitting on 8.09ha of freehold land, the 118 units are surrounded by a six to eight metre retention wall because of the the area’s landscaping. The houses are built on a hill around six metres above the main road. The houses in Harmony Park are inspired by contemporary architectural aesthetics, with spacious and trendy European-style villas that offer home owners plenty of options to personalise every part of the house. The semi-detached units have a minimum built-up area of 2,800 sq ft and are priced from RM889,860 onwards. The bungalow units have a minimum built-up area of 3,400 sq ft and costs at least RM1.47million

(The Star-31 August 2012)

Building an upscale suburb Top

The Sunsuria Group has a 4.6 ha piece of development land in Bukit Jelutong, Shah Alam with an estimated gross development value (GDV) of RM1bil that will be developed in three phases. The first phase of Suria Jelutong is spread across 1.8ha and will consist of 666 standard and premium serviced-apartment suites. The standard suites come in studio, two- and three-bedroom options with built-up areas from 450 sq ft to 1,334 sq ft. There will also be 48 commercial units, three floors of shop offices and one-and-a-half floors of retail boutiques in the first phase of the development. The retail space is priced at RM1.8million per unit onwards, with sizes starting from 900 sq ft. The first phase, with a GDV of RM300million, is expected to be completed by 2015. Sunsuria director Simon Kwan noted that some 80% of the first phase has already been sold.

(The Star-31 August 2012)

Selangor Dredging aims to unveil RM1.2bil worth of properties Top

Selangor Dredging Bhd plans to launch five new property projects, with a total gross development value of RM1.2billion, in the current financial year ending March 31, 2013. Managing director Teh Lip Kim (pic) said one project, the Laman and Bayu residential project in Petaling Jaya, was already launched while the second project, Windows On The Park, in Cheras, was opened for preview. Three other projects in the pipeline were Jia in Taman Melawati, The Hub in Petaling Jaya and Village in Singapore, and were expected to be launched over the next few months. (The Star-31 August 2012)

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2 terminals in the works Top

Two more integrated transport terminals will be opened in the city soon to provide for smooth traffic flow. They are to be built in Gombak, near the Gombak Light Rail Transit station, and Sungai Buloh. This will be done by the Transport Ministry together with the Performance Management and Delivery Unit (Pemandu) under the Prime Minister's Department. This terminal would cost RM350 million and would be an added strategy to further enhance the public transport system and the management of express buses entering Kuala Lumpur.

(NST-31 August 2012)

Upcoming developments Top

The year 2013 is pretty much a busy one for Dijaya Corp Bhd as it is planning some 12 launches spread over the Klang Valley, Penang and Johor. One of the more imminent ones includes The W Hotel & The Residences, situated on 1.28 acres of freehold commercial land along Jalan Ampang. The W Hotels & The Residences will have 150 rooms while the residences will have 353 units. In early 2011, Dijaya announced its partnership with Starwood Hotels & Resorts Worldwide, to develop a W Hotel in Kuala Lumpur. Designed by Skidmore, Owings & Merrill LLP from New York, The W Hotel & Residences will be located within the Golden Triangle and is situated across the Petronas Twin Towers. Another mixed development to be launched which is likely to garner interest in the 88 acre Tropicana Hills in Subang, which is a mixed development of condos, retail lots, offices and a shopping mall. (The Star-1 September 2012)

I&P sees another good year Top

Property developer I&P Group Sdn Bhd is on track to launch properties with a combined gross development value (GDV) of RM3billion this year, says its group managing director Datuk Jamaludin Osman. In the final quarter of this year, the group is planning to launch three-storey terrace houses and apartments at its freehold 200-acre Temasya Glenmarie mixed development in Shah Alam. In September, the group will offer additional three and four-storey shop offices in Bandar Baru Seri Petaling. The three and four-storey shop offices, with built-ups ranging from 4,498 sq ft to 11,673 sq ft, will have price tags starting from RM3million. Jamaludin is expecting a strong response to the Zone J8 shop offices launch, based on the success of past launches of the group's commercial units in Bandar Baru Seri Petaling. This year, the total GDV of shop offices launched in this township is RM441.2million. (The Star-1 September 2012)

Kwasa Damansara to be a hive of activity for developers soon Top

Property developers and construction firms will be looking forward to the details of the pre-qualification process for the Rubber Research Institute (RRI) land in Sungai Buloh, following the finalisation of the sale of this real estate to the Employees Provident Fund's (EPF) subsidiary Kwasa Land Sdn Bhd. Kwasa Land, the master developer, acquired 2,330 acres out of the approximately 3,000 acres of RRI land from the Malaysian Rubber Board for RM2.28bil or RM22.50 per sq ft, confirming speculation of recent months that the land will be acquired for more than RM2billion. This land will be turned into the township of Kwasa Damansara, which will have a development period of up to 15 years and include a mix of residential and commercial properties, infrastructure and public amenities for an expected population of 150,000. (The Star-1 September 2012)

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Hunza hires Singapore, KL experts for mall in Penang Top

Hunza Properties Bhd (HPB) is looking to conclude some 80 per cent of tenancy deals for its lifestyle shopping mall, which will be ready by the middle of 2013. Executive chairman Datuk Khor Teng Tong said the company, which plans to hold and manage the mall, a component of its Gurney Paragon development here, has engaged experts from Singapore and Kuala Lumpur to ensure smooth operations of the mall, expected to boast new retail names in Penang. Sited on a plot of 4.08ha freehold land, Gurney Paragon is an integrated development comprising two blocks of high-end condominiums, an office block, St Joseph's Novitiate, three-storey podium retail lots and a shopping mall which total some 700,000 sq ft. Khor said about 57% of net lettable space has been rented out to tenants such as food and beverage outlets and beauty and wellness operators. Of the total 220 Gurney Paragon condominiums, only 13 more units have been left unsold and the company is looking to sell these by the end of the year. (NST-1 September 2012)

PJ Development targets home buyers’ keen to live in the city Top

A week after its soft launch, 80% of the phase one residential units of You City project, You Residences, has been booked. The eight acre mixed development by PJ Development (PJD) located in Cheras along the Cheras- Kajang Highway is seen as a strategic location given its proximity to the city, amenities like a nearby wet market and accessibility to the MRT with the proposed Taman Suntex station. The units are competitively priced at about RM500 per sq ft and we have dared to take the risk to build big units, mostly 1,200 sq ft or more. You City is a four-phase freehold project. The second phase You Vista is scheduled to be launched in December, also going for about RM500 per sq ft, with built-up areas from 500 sq ft to 1,300 sq ft. Phase one is due for completion in August 2015, while the overall development will take about five to seven years.

(The Star-1 September 2012)

Up and coming in Johor Baru Top

Johor Baru’s busy and bustling Jalan Tebrau is all set for a facelift by the end of 2015 with the completion of the 1Tebrau project, an integrated development featuring shop offices and designer suites for modern lifestyles. Officially launched recently by Distinctive Properties Sdn Bhd, 1Tebrau offers 36 units of 4-storey shop-offices and 588 units of designer suites. With a gross development value of RM330million, the project is expected to attract Malaysians as well as foreigners, especially Singaporeans. This is the maiden foray into Johor for the Distinctive Group under the leadership of executive chairman Datuk David Koh, who has over 30 years of property development experience in the Klang Valley.

Block A consists of 12 units of 4-storey shop offices (7,735 to 10,618 sq ft) some of which offer dual frontage, a unique feature when compared to existing shop offices within the vicinity. The 31-storey Block B houses 588 units of designer suites (within 21 storey) ranging from 621 to 1,049 sq ft (Type A, C: 3-bedroom units / Type B: studio), five levels of carparks, one recreation floor and 24 units of 4-storey offices (5,747 to 9,131 sq ft) on Level 1. The designer units are priced from RM343,000 onwards (up to RM648,000) while the shop offices range from RM1.9million to RM5million. (The Star-3 September 2012)

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Best Western out to take Malaysia by storm Top

Best Western International (BWI), the world's largest hotel chain, plans to take Malaysian market by storm with the target to have 20 hotels in the country by 2015. President and chief executive of Trinidad Group of Companies, Naresh Mohan said there are currently six hotels under construction, with a collective development value of around RM1 billion. Three hotels - Best Western Shah Alam, Kuala Lumpur, Best Western Premier The Haven in Ipoh, Perak, and Best Western Premier MITC in Melaka - will be opened in the fourth quarter of 2013. Two hotels - Best Western Bangsar, Kuala Lumpur, and Best Western Plus CentreStage in Petaling Jaya Section 13, Selangor - will be opened in 2014 and Best Western Plus 1 Gateway Klang, Selangor, will be opened in 2015. Best Western Premier Dua Sentral, located in the rapidly developing commercial and business district of KL Sentral, was developed by Amanah Raya Bhd with an investment of RM280 million.

(NST-3 September 2012)

BRDB arm to develop land with Garuda Top

Bandar Raya Developments Bhd (BRDB) wholly-owned subsidiary, Raintree Forest Sdn Bhd, yesterday has agreed to jointly develop a 25.9ha freehold land owned by Garuda Mega Sdn Bhd in Cheras, Selangor. Both parties are planning a residential development comprising bungalows, semi-detached houses and apartments with an estimated gross development value of RM600 million. (NST-6 September 2012)

Battersea site bought for RM2bil Top

The Malaysian consortium comprising property developers S P Setia Bhd, Sime Darby Bhd and the Employees Provident Fund becomes the official owner of the 39.5-acre Battersea Power Station site after paying £400million (RM1.99billion) on Tuesday with a £300million bridging loan from CIMB, said S P Setia president and CEO Tan Sri Liew Kee Sin. The remaining £100million was paid as per the equity stake of each of the three consortium partners, with both S P Setia and Sime Darby forking out 40% each and EPF the remaining 20%. This will be the first and the largest property development for both Sime Darby and S P Setia in Britain with a gross development value of £8billion (RM39.8billion). That master plan is to feature 3,400 new homes, 160,000 sq m of new office space, 56,000 sq m of retail and 9 ha of public parks and spaces.

(The Star-6 September 2012)

Bolton to raise RM380m via sukuk issuance Top

Bolton is launching serviced apartments and a retail mall at The Wharf, 71 condominum units at 51G Kuala Lumpur and 118 zero-lot bungalows at Tijani Ukay, with combined gross development value of RM850 million. Its executive chairman Tan Sri Azman Yahya said for Tijani Ukay, Bolton achieved up to 70% bookings during the pre-launch in July. The price tag for each bungalow lot was from RM2.2 million to RM4.5 million. (NST-6 September 2012)

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Impiana KLCC to hit room rate projection a year early Top

LBS Bina Group Bhd will soon be unveiling the final two residential projects in Bandar Saujana Putra Avenue, an exclusive neighbourhood within the township of Bandar Saujana Putra, Puchong. “Royal Ivory 2 and Royal Garden, which will be launched next month, mark the last parcel of landed properties in Bandar Saujana Putra,” said LBS Bina Group Berhad managing director Datuk Lim Hock San. Royal Ivory 2 features double storey cluster link semi-D houses, with land areas of 32 ft by 55 ft and gross built-up areas of 2,007 sq ft. There are 252 units available, with prices starting from RM549,900. Royal Garden comprises double storey semi-D houses, with land areas of 32 ft by 73.7 ft and gross built-up areas of 2,444 sq ft. Only 98 units are available under this project, with the starting price from RM649,900. (The Star-7 September 2012)

Bolton plans to sell retail assets Top

Bolton Bhd, one of the oldest property developers in the country, plans to dispose of its retail assets to focus on property development, its chief said. The company currently owns the Langkawi Fair Shopping Mall, situated at the south eastern tip of Langkawi Island. Sprawled on a 3.45ha site, the mall is the largest shopping centre in Langkawi and it is estimated to be worth about RM45 million. Bolton executive chairman Tan Sri Azman Yahya said Bolton plans to also sell The Wharf lifestyle retail mall in Taman Tasik Prima in Puchong, Selangor. The mall, which is under construction, is part of a bigger development called The Wharf, which comprises three serviced apartment blocks and an integrated complex with boutique showroom offices and flexi suites. The three-storey neighbourhood mall has a gross floor area of 500,000 sq ft and is worth about RM200 million.

(NST-10 September 2012)

RQAM confident of attracting Malaysian buyers Top

Raffles Quay Asset Management Pte Ltd (RQAM), which manages the Marina Bay Financial Centre (MBFC) in Singapore, is optimistic that Malaysian investors will flock to the island to confirm their bookings for residential units at Marina Bay Suites. Marina Bay Suites is part of the exclusive MBFC project, spanning a 3.55ha site at Marina Bay and comprising office, residential, commercial and retail developments. RQAM head of residential marketing, Thomas Tan, said his optimism is based on the fact that Malaysians continue to be keen investors in Singapore properties. "In fact, we have attracted 50% foreigners for the early stages of the Marina Bay Suites development and of that 50 per cent, one third are Malaysians," he told Business Times, here, recently. "We have sold 77 per cent of the mid to lower floor of the Marina Bay Suites. We have now reached the 54th to 62nd floors and the three penthouses from 63rd to 66th floors," he said.

(NST-10 September 2012)

New luxury hotel opens in KL Top

The first Grand Hyatt hotel in Malaysia, Grand Hyatt Kuala Lumpur, has opened its doors. Situated right next to Kuala Lumpur Convention Centre, the hotel is within walking distance of the iconic Petronas Twin Towers, Suria KLCC, KLCC Park, Dewan Filharmonik Petronas as well as the Golden Triangle shopping and entertainment district. The Pavilion shopping centre is less than a 10-minute walk via the covered sky-bridge outside the hotel. (The Star-11 September 2012)

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New mall in Shah Alam to begin construction in early 2013 Top

A new mall with a space of 1.7 million sq ft is expected to open at the i-City Cybercentre in Shah Alam by the end of 2015. Construction is expected to begin in early 2013. The i-City Mall project with a budget of RM500million is a joint venture through a special purpose vehicle (SPV) by I-Berhad’s wholly-owned subsidiary - I-City Properties Sdn Bhd — and Thailand’s largest retail developer, Central Pattana Public Company Limited (CPN). It will be located within an 18-acre plot in i-City and is set to complete the RM5billion. Cybercentre’s offering as an international business hub by day and lifestyle haven by night. Besides the mall, the plot will also have other commercial properties such as a hotel, office tower, serviced apartments and small office home office (Soho). (The Star-14 September 2012)

I-Berhad, Thai giant ink mall deal Top

I-Berhad and Thailand's Central Group are teaming up to jointly develop the i-City Mall in Shah Alam through a 40:60 special purpose vehicle (SPV). The Thai retailing giant, through Central Pattana plc, which is listed on the Thailand Stock Exchange, will be responsible for the design and the development as well as management of the mall. The RM500 million i-City Mall, which is targeted for completion by 2015, is located on a 7.52ha plot in i-City, I-Berhad's 28.8ha urban development project sited along the Federal Highway in Section 7, Shah Alam. "The joint-venture agreement is expected to be finalised in two months and actual work on the mall project will start early next year," I-Berhad chief executive Datuk Eu Hong Chew told a press conference here.

(NST-14 September 2012)

Competitive price is Bayu Sentul's selling point Top

Melati Ehsan Holdings Bhd aims to sell all of its 360 condominium units at Bayu Sentul in Bandar Baru Sentul within the next three years, banking on their competitive price. Managing director Tan Sri Yap Suan Chee said to date, it had sold half of the units at between RM500,000 and RM750,000 apiece which he claimed is a steal for a condo of its class in the particular area. Yap said the Bayu Sentul project, which has a gross development value of RM170 million, will be carried out by its subsidiary Arus Embun Sdn. Piling works have already kicked off. (NST-15 September 2012)

Nusa Gapurna mulls REIT Top

Nusa Gapurna Sdn Bhd, a low-key developer, is mul-ling grouping its assets to form a commercial real estate investment trust (REIT) by 2015, which could potentially be worth more than RM2.5 billion. It is understood the assets will include the six high-rise buildings that are being planned at PJ Sentral Garden City, a project by PJ Sentral Development Sdn Bhd. PJ Sentral is a 70:30 joint venture between Nusa Gapurna Development Sdn Bhd (NGDSB) and the Selangor Economic Development Corp (PKNS). The construction of PJ Sentral Garden City located behind PJ Hilton Hotel will take seven to eight years beginning at the end of next year. It will comprise five custom-built office towers, each ranging from 20 to 45 floors, with estimated gross development value of RM2.6 billion. The project will also include a five-star hotel, a 7,000 car park complex, a 1.6ha public park and a supportive retail element for food and beverage. (NST-17 September 2012)

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Malaysia's movie capital Top

The development of Pinewood Iskandar Malaysia Studios in Iskandar Malaysia will place Johor at the forefront of the local creative industry and transform it into Malaysia's movie capital, says its chief executive officer, Michael Lake. He said that while Pinewood was marketing Malaysia as a destination for filmmaking, it was also promoting it for companies to set up their infrastructure. By the end of next year, he said, the development of Pinewood, a studio complex located on a 20ha site in Nusajaya at the heart of the Iskandar Malaysia Development Region, would have created 1,500 jobs in an export-oriented industry, while financing from overseas over the next decade was estimated to be around RM1.8 billion.

There will also be five film stages covering a total of 9,290.30 sq m, two 1,858.06 sq m stages, two 1,393.54 sq m stages and a 2,787.09 sq m stage. The largest stage will have a water tank for productions involving work on or under water. It will be the largest independent integrated studio facility in Southeast Asia, offering state-of- the-art film stages, TV studios and post-production suites from early 2013. Pinewood will have two television studios, both 1,114.83 sq m, with seating capacities of 600 and 800 people, respectively.

(NST-18 September 2012)

Swanky new look for Atria Top

The former neighbourhood shopping centre, Atria, in Damansara Jaya here is now being rebuilt. In 2007, OSK Property Holdings Sdn Bhd bought the mall to redevelop it. The project is being carried out by Atria Damansara Sdn Bhd and construction work is expected to be completed by the end of next year. The new Atria will feature a mixed commercial development which comprises a lifestyle shopping gallery and SOFO (Small Office Flexi Office) suites. The mall will open its doors to the public in early 2014 while the suites by 2015. OSK Public Relations and Communications assistant manager Emily Cheng Siow Chun said the redevelopment project will give the mall a look that would suit the current lifestyle. The estimated cost of the project is over RM300 million and all the office units have been sold, said Cheng. (NST-18 September 2012)

Johor set to become Malaysia's movie capital Top

The development of Pinewood Iskandar Malaysia Studios in Iskandar Malaysia will position Johor at the forefront of the local creative industry and transform it into Malaysia's movie capital, says its chief executive, Michael Lake. He said that while Pinewood was marketing Malaysia as a destination for film-making, it was also promoting it for companies to set up their infrastructure as well. By the end of 2013, he said, the development of Pinewood, a studio complex located on a 20ha site in Nusajaya at the heart of the Iskandar Malaysia Development Region, would have created 1,500 jobs in an export-oriented industry, while financing from overseas over the next decade was estimated to be around RM1.8 billion. It will be the largest independent integrated studio facility in Southeast Asia, offering state-of-the-art film stages, TV studios and post-production suites from early 2013. Pinewood will have two television studios, both 12,000 sq ft in area, with seating capacities of 600 and 800 people, respectively. In addition, there will be five film stages covering a total of 100,000 sq ft, two 20,000 sq ft stages, two 15,000 sq ft stages and a 30,000 sq ft stage.

(NST-18 September 2012)

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New landmark for Putrajaya Top

Putrajaya will have a new hotel by the end of the year and, once completed, it will be part of a larger mixed development comprising retail and office blocks. Located in Precinct 1, the Everly Putrajaya is connected to the Alamanda Shopping Centre and the soft launching is planned in November. An MoU was signed under the "Everly" brand between Indah Putrajaya Sdn Bhd, a wholly-owned subsidiary of Putrajaya Holdings Sdn Bhd (PHSB) and Value Hospitality Limited. The hotel boasts 382 guest rooms, 1,000 seats banquet hall, eight meeting rooms, coffee-house, cafe lounge, swimming pool as well as an executive and air crew lounges. The Everly is a three-star hotel with four-star facilities that is a stylish stay-away from home yet affordable and practical. (The Star-19 September 2012)

TRX draws strong global interest Top

The Tun Razak Exchange (TRX) is poised to be a success as there has been positive initial demand for the multi-billion ringgit development's Grade A offices, a research house said. UOB Kay Hian said TRX's Grade A offices had attracted strong interest from multinational financial institutions which view the exchange as an avenue to set up new hubs to support future growth. The first phase of the sprawling financial district is due to kick off in the middle of next year, with prime Grade A office towers offering a gross floor area (GFA) of between 750,000 sq ft and 1.2 million sq ft. The phase is estimated to generate a gross development value (GDV) of between RM5 billion and RM6 billion. Over its 15-20 years of development, TRX is projected to generate a GDV of RM26 billion. UOB Kay Hian said TRX will be the new international hub for finance and professional services. (NST-19 September 2012)

Enquiries start to build up Top

The proposed 100-storey Menara Wawasan Merdeka has received pre-booking enquiries for over 60% of its lettable space, according to an industry source. The source said about 30 per cent of the space is being reserved for its developer, Permodalan Nasional Bhd (PNB), and several government- linked companies under PNB’s stable. To be officially launched by year-end, the Menara Warisan Merdeka will cost RM2.5 billion to RM3 billion. It will have gross floor space of 3.0 million sq ft and 2.2 million sq ft of net floor space. This will be followed by two subsequent phases comprising a shopping complex and condominiums. The whole development, to be undertaken over a 10-year period, will cost RM5 billion. (NST-19 September 2012)

BLand in Japan venture with RM976m Four Seasons Hotel Kyoto opening in 2015 Top

Berjaya Land Bhd's (BLand) maiden hotel development in Japan, the Four Seasons Hotel Kyoto, will be developed at a gross development cost of US$320million (RM976million) and is set for its official opening in early 2015. The hotel, which will be the city's fourth global hotel brand after Hyatt Regency, Westin and the soon-to-be-ready Ritz-Carlton, is slated to start construction by March next year. A signing ceremony was held here yesterday between Berjaya Kyoto Development Kabushiki Kaisha (a wholly owned subsidiary of BLand, which in turn is a subsidiary of Berjaya Corp Bhd) and Four Seasons Hotel and Resorts to mark the collaboration. (The Star-19 September 2012)

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Listari in Malacca mixed development project Top

Little-known property developer Listari Marina (M) Sdn Bhd is building a mixed development at Klebang, Malacca with a gross development value of RM183mil and aimed at largely mainland Chinese buyers and Japanese investors seeking to invest in the country. Its chief executive officer Datuk Seri Alex Teh Chee Teong said the project was part of its RM1.5billion mixed development project residential components, hotel, shopping mall and a water theme park that would be launched and developed in stages in the next 10 years. He said the company was completing soon part of the theme park which features a water laser show, and according to him would be the largest in Asia. (The Star-21 September 2012)

Luxury residential property in Langkawi to be ready in 2015 Top

Rahsia Estates, a brand new 17 acre resort development located on a quiet river estuary next a fisherman’s jetty at Kampung Temoyong. The development is located just off the main road, Jalan Bukit Malut and is approximately 10 to 15 minutes from the Langkawi International Airport. It is also located close to Pantai Cenang, a popular tourist attraction. The developer, Rahsia Estates Sdn Bhd, is a member of HD Concepts Consolidated Sdn Bhd group of companies. Rahsia Estates comprises several high-end precincts of various resort and residential types to suit individual lifestyles and needs. Precinct 1 has been aptly named Tree Top Villas as it comprises of 121 high-end serviced apartments/hotel suites. Precinct 2, The Club Suites Eco Hotel comprises 116 keys and finally Precinct 3 is The Cabana Villa Village, which houses 31 luxury villas with private pools. (The Star-21 September 2012)

Strong interest prompts IIB to launch EduPark Top

Interest in Iskandar Malaysia’s EduCity @Nusajaya near here remains strong and has prompted Iskandar Investment Bhd (IIB) to embark on a second similar project. IIB president and chief executive officer Datuk Syed Mohamed Syed Ibrahim said the second project would be known as EduPark@Nusajaya. He said the company was in the midst of completing the planning development of EduPark and its blue print would be unveiled towards the end of the year. The campus will boast 300,000 sq ft of built-up area complete with sports, recreational and boarding facilities to cater for a capacity of 2,000 students. EduCity, which covers 123.42ha, will have eight universities with one specialised faculty each while EduPark has an area spanning between 161.87ha and 202.34ha. (The Star-21 September 2012)

Southkey Megamall maybe injected into IGB REIT Top

The upcoming Southkey Megamall in Johor Baru is expected to be injected into newly public-listed IGB Real Estate Investment Trust (IGB REIT). The Mid Valley City-type mixed development is a joint venture between IGB REIT's sponsor, IGB Corporation Bhd and Selia Pantai Sdn Bhd. The project is expected to be completed in the next five years with a tentative gross development value of between RM6 billion and RM8 billion. "IGB Corp has yet to receive approvals from the local authorities in Johor, but they have been very supportive of the project. If everything goes as planned, work on the new mall should start in the first half of next year," said IGB REIT chief executive Antony P. Barragry after its listing ceremony yesterday. Barragry said after the Southkey Megamall is completed, IGB Corp will operate the business for some time before putting it into the REIT.

(NST-22 September 2012)

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'PR1MA can take back houses if owners don't abide by regulations' Top

Malaysians who buy affordable homes under the 1Malaysia People Housing programme (PR1MA) may be forced to vacate the homes if they do not abide by regulations.Chief executive officer Datuk Abdul Mutalib Alias said among the actions that would see ownership revoked was illegally renting out the house to third parties. “These houses are meant to be owner-occupied unless they have a good reason of leaving the house. “If we receive reports of abuse, PR1MA can buy the house back from the owner and ask them to leave,” he said during a briefing yesterday. (The Star-25 September 2012)

Naza TTDI awards RM556m expo centre job to Daewoo Top

The Naza Group has awarded a RM555.9 million contract to Daewoo Engineering and Construction Co Ltd to help develop the new Matrade Exhibition Centre in Kuala Lumpur. TTDI KL Metropolis Sdn Bhd, a wholly- owned unit of Naza TTDI Sdn Bhd, the property arm of Naza Group is developing the exhibition centre. SM Faliq SM Nasimuddin, said Daewoo Engineering was awarded the contract due to its commanding track record of undertaking similar projects here and Korea. Daewoo Engineering has completed, among others, Menara Telekom, Jeju Convention Center, Incheon International Airport Passenger Terminal, Korean International Exhibition Centre and Menara KLCC 3. With a gross floor area of one million sq ft, the centre would be the country’s largest exhibition area, placing Malaysia on the map as a preferred meetings, incentives, conferences and exhibitions) destination in the region. (NST-25 September 2012)

Sites for 10,000 affordable homes in Seremban Top

1Malaysia People’s Housing Scheme (PR1MA) has earmarked a few plots of government land as part of its plan to build 10,000 affordable houses in Seremban, Negri Sembilan, within a decade. PR1MA is also eyeing private andpublic land in Johor, Malacca and Pahang, besides the Klang Valley. PR1MA is a government unit tasked to build affordable quality homes for the people, with household income of RM3,000 to RM7,500 a month. “We have identified three plots of federal land in Seremban. Our target is to build about 10,000 PR1MAhouses in Seremban over 10 years," PR1MA chief executive officer Datuk Abdul Mutalib Alias said. Seremban is poised to host PR1MA’s first housing scheme since the PR1MA Act was gazetted in January this year. The scheme, to be launched on Saturday by Prime Minister Datuk Seri Najib Razak, will involve 1,200 units of double-storey houses under the first phase. (NST-25 September 2012)

Batu Gajah 'to be railway hub for Asean' Top

Malaysia will take the lead as Asean's rail transport hub with a RM400 million manufacturing complex to be set up in Perak. The 20.2ha facility in Batu Gajah was made possible under a memorandum of agreement (MoA) signed yesterday, between the Transport Ministry and the China Southern Rail Group (CSR Group), China's largest metro vehicle maker. Prime Minister Datuk Seri Najib Razak, who witnessed the signing, said the railway complex would strengthen Malaysia's position as a major rail industry player, with possibilities for further growth and expansion given Southeast Asia's largely untapped rail industry. The complex, named the CSR Rolling Stock Centre (Malaysia) Sdn Bhd, is expected to provide 800 jobs, with its RM200 million initial phase to be completed by 2014. It will operated by CSR Group subsidiary CSR ZhuZhou Electric Locomotive Co Ltd (CSR Zelc). (NST-25 September 2012)

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Merlin to take its share in Legoland Malaysia to 20pc Top

Merlin Entertainments Group plans to increase its holdings in Legoland Malaysia to 20% in the next few years. Merlin, the world's second largest visitor attraction operator after Disney, currently holds about 10 per cent stake in the family theme park. Legoland Malaysia is owned by Khazanah Malaysia Bhd's unit, Themed Attractions and Resorts Sdn Bhd (TAR), Iskandar Investment Bhd (IIB) and Merlin. The park is operated by Merlin. Merlin is also developing Legoland Water Park and Legoland Hotel here, which will open in 2013 and 2014 respectively. The development of Legoland theme park, Water Park and hotel costs about RM1.6 billion. Its chief executive officer Nick Varney is confident that Legoland Malaysia will attract between one and two million visitors a year, just like the existing Legoland parks in Denmark, Germany, the United Kingdom, California and Florida (the United States). (NST-25 September 2012)

Ireka: RM1.9b projects over next 5 years Top

Ireka Corp Bhd plans to launch projects worth RM1.9 billion over the next five years as the company is upbeat about the prospects of the real estate sector, despite the sluggish global economy. The upmarket developer is planning to launch two projects by end of this year. The projects are for a boutique hotel and serviced residence in Kuala Lumpur and a housing development in Nilai, Negri Sembilan. Ireka's group managing director Lai Siew Wah said the boutique hotel and serviced residence project is a 30:70 joint-venture between Ireka and Aseana Properties Ltd. Lai said Ireka is looking at diversifying into the mid-market residential and commercial sectors, as well as modern industrial buildings. "The residence project will serve as the niche market for luxurious residential units with smaller built-up, 80% of which are 878 sq ft and 906 sq ft," he said.I

(NST-27 September 2012)

Emkay plans Cyberjaya affordable housing project Top

Emkay Group expects to launch an affordable housing project in Cyberjaya by the second quarter of next year in an effort to enhance the middle-income group's accessibility to their own house. "This is an ongoing effort by us in providing affordable housing to the people, in line with the government's desire to see more of the middle income group owning homes," said chairman Tan Sri Mustapha Kamal Abu Bakar. Speaking to reporters after the launch of the Star Central @Cyberjaya project here yesterday, he said the affordable housing project will be part of the group's plan to transform Cyberjaya as Malaysia Silicon Valley in 2020.

The Star Central @Cyberjaya project, developed by its subsidiary, Joyful Star Sdn Bhd is a mixed-development project comprising 859,118 sq ft of office space, 814 units of shops and 1,900 residential units with a gross development value (GDV) RM1.8 million. The construction is scheduled to start next month and is expected to be completed in five years. It will be developed in four phases, Mustapha Kamal said. "So far, the project recorded a sales value of RM122 million, involving various types of development," he said. Among the development in the Star Central @ Cyberjaya project are an eight-storey semi-detached office tower units with a GDV of RM420 million, two 25-storey residential studio and office (SOHO) towers (GDV of RM319.4 million), 10-storey shop office (GDV of RM80.8 million), six-storey hypermarket (GDV of RM277.7 million), 48-storey serviced apartments (GDV of RM453.9 million) and a 41-storey hotel (GDV of RM332.2 million).

(NST-28 September 2012)

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Weida plans luxury condos Top

Weida (M) Bhd will embark on two high-rise residential condominium projects in Mont Kiara and Subang with combined gross development value (GDV) of more than RM600million. Group managing director Datuk Lee Choon Chin said the two upmarket projects were expected to have a total of some 660 units. He said the Mont Kiara project, which would be located near to the Garden International School and future mass rail transit (MRT) system, was to cater for both local and foreign buyers. The Subang condominium project will be sited near a Japanese international school. The projects are expected to simultaneously get off the ground in second half-2013, and will take three years to complete. (The Star-28 September 2012)

First phase of the Mall of Medini welcomes visitors Top

Nusajaya Lifestyle Sdn Bhd, a joint venture company between UEM Land Holdings Bhd and Iskandar Harta Holdings Sdn Bhd, has opened the first phase of the Mall of Medini in Johor to the public. Drawing inspiration from globally-successful theme park and lifestyle retail centres such as Americana, The Grove and Universal Citywalk, Medini mall is envisioned to become the lifestyle, entertainment and recreational epicentre of Nusajaya, one of the five key nodes of Iskandar Malaysia. The mall is dedicated to serve as a gateway to Legoland Malaysia and cater to the needs of local and international visitors to the theme park. Phase 1 of the Mall of Medini offers intimate high-street, colonnade-style retailing in a classy yet lively and festive environment, which encourages interaction between the internal and the external, a departure from the conventional box shopping mall. (NST-29 September 2012)

RM1.5b Sky Park project will enhance city's appeal Top

Cyberview Sdn Bhd managing director Hafidz Hashim believes the RM1.5 billion Sky Park project in Cyberjaya will further enhance the progress and growth of the intelligent city. Some 16 major developers are expected to invest up to RM20 billion in Cyberjaya over the next five years. They include SP Setia Bhd, Mah Sing Group Bhd, Nadayu Bhd, UEM Land Holdings Bhd, Glomac Bhd, OSK Property Bhd and MCT Consortium. The Sky Park project is being developed by MCT Consortium and consists of six towers of between 12 and 42 storeys. The project will have an office tower, strata office, a 390-room business hotel, serviced apartments, studio small-office-flexible-office (SOFO) and duplex SOFO. MCT managing director Danny Goh said the development has many unique features, one of which is the roof-top podium featuring sophisticated ambience with choices of stylish brands. (NST-29 September 2012)

MEGA DEALS

Khind-Mistral buys property in Kuching Top

Khind Holdings Bhd’s unit Khind-Mistral (Borneo) Sdn Bhd has bought a piece of land and building in Kuching, Sarawak, for RM4.8 million. The purchase, which will house its current scattered operations, will also help increase operational efficiency and contribute to cost savings. (NST-6 July 2012)

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The Store unit buys Shah Alam property for RM68m Top

The Store Corp Bhd's wholly-owned subsidiary, The Store (Malaysia) Sdn Bhd (TSM), is acquiring a piece of property in Shah Alam for RM68.5million. The company said the property, located in Sungai Buloh, comprised a leasehold land measuring 10,603 sq m and a multi-storey commercial building known as Kompleks Sungai Buloh. TSM is the anchor tenant, occupying some 43% of total lettable area of the complex, which has an occupancy rate of about 95%. (The Star-7 July 2012)

Tabung Haji to buy Bangsar office building Top

Lembaga Tabung Haji has agreed to buy a 13-storey boutique office building in Bangsar South in Kuala Lumpur for RM102.2 million from UOA Development Bhd. The price, which comes up to about RM700 per sq ft, was arrived at after taking into consideration a gain of about RM20.9 million against the current book value.

(NST-11 July 2012)

PHB buys office, retail buildings and carparks Top

Pelaburan Hartanah Bhd (PHB) has acquired three office buildings, two retail buildings and two levels of basement carparks in Peremba Square, Shah Alam, increasing the total value of its assets to about RM1.5billion. PHB said in a statement yesterday that it had entered into a sale and purchase agreement (SPA) with Axaregal Sdn Bhd for the acquisition of assets in Peremba Square. PHB said the office blocks were currently 90% occupied by local and international companies. At the time of the acquisition, Block D of Peremba Square was already under PHB’s list of properties. The agreement signed would see PHB owning 86% of Peremba Square (Block A, B, D, E, F and G). (The Star-13 July 2012)

Aeon scraps land purchase plan Top

Aeon Co (M) Bhd has terminated a sale and purchase agreement with the Datuk Bandar Kuala Lumpur and Dwitasik Sdn Bhd to acquire a piece of land with a proposed shopping centre for RM107.2million. Aeon said the Feb 18, 2009 agreement was terminated due to the non-fulfillment of the conditions precedent. Under the RM107.22million aborted deal, Aeon was to acquire 6.25 acres or 272,250 sq ft of land for RM27.2million and a shopping centre and department store for RM80million. (The Star-18 July 2012)

Ken Holdings to buy land for green township project Top

Ken Holdings has proposed to acquire land owned by Malaysia Building Society Bhd (MBSB) for RM56.17million for the development of a green township. In filings with Bursa Malaysia, the company said it would be acquiring the entire stake of MBSB's unit, Gadini Sdn Bhd. Gadini is the registered and beneficial owner of four parcels of land measuring a total of about 992,433 sq ft in Johor. The company said the estimated gross development value and cost for the potential development of the properties is about RM1.2billion and RM914.5million respectively. (The Star-19 July 2012)

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Zecon unit signs S&P deal with LTH Top

Zecon Bhd’s unit, Zecon Land Sdn Bhd (ZLSB), has signed a sale and purchase (S&P) agreement with Lembaga Tabung Haji (LTH) to sell a retail mall for RM155.85 million. In an announcement to Bursa Malaysia, Zecon said it will build an integrated mixed development known as the Vista Tunku Project on the project land. (NST-20 July 2012)

See Hup unit buys land for RM3.11m Top

See Hup Consolidated Bhd’s unit, See Hup Transport Company Sdn Bhd, has agreed to buy a parcel of vacant industrial land measuring 1.54ha in Seberang Prai, Penang, from Penang Development Corp for RM3.11 million. The acquisition will allow See Hup Transport to consolidate its existing depot in one area to facilitate monitoring of the group’s fleet of vehicles. (NST-26 July 2012)

Land disposal by Sarawak Plantation unit Top

Sarawak Plantation Bhd’s wholly-owned unit, Sarawak Plantation Property Holding Bhd has inked an agreement with Everlasting Prosperity Sdn Bhd (EPSB) to dispose of land in Kemena Land District, Bintulu, for RM7.2 million. (NST-31 July 2012)

Pinehill disposes Kuala Lumpur land Top

Pinehill Pacific Bhd, through Pinehill Plantations (M) Sdn Bhd, will dispose of two parcels of freehold land to Tungling Corp Sdn Bhd for RM16.68million. The land, measuring about 13,345 sq ft each, is located in Kuala Lumpur. (The Star-4 August 2012)

AT to sell off land in Penang for RM15.5m Top

AT Systematization Bhd plans to dispose of a piece of leasehold land in Penang for RM15.5 million. The leasehold land, which houses a double-storey factory and a three-storey office block, is currently used by AT as its manufacturing plant. (NST-4 August 2012)

Emico plans to sell land for RM8.6mil Top

Emico Holdings Bhd's wholly-owned subsidiary, Emico Development Sdn Bhd, has proposed to sell land to TH Mutiara Sdn Bhd for RM8.6million. The land is located in Sungai Petani, Kedah, and has been approved for the development of 194 terrace houses, 256 semi-detached houses and five bungalows. (The Star-4 August 2012)

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Boilermech in RM20.3m land purchase Top

Boilermech Holdings Bhd is acquiring a piece of property in, Subang Jaya for RM20.30million which would enable it to expand it capacity to manufacture boilers. It said on Wednesday its unit Nautical Icon Sdn Bhd had signed a conditional sale and purchase agreement with SSK Logistics Sdn Bhd to acquire a piece of industrial land with a factory and three-storey office. Boilermech said the land, measuring 1.45ha, is in Taman Industri Sungei Penaga and the leasehold expires on Oct12, 2061. (The Star-8 August 2012)

AmFirst buys office building in Malacca Top

AmFirst REIT is buying Kompleks Tun Sri Lanang in Malacca for RM86 million. The acquisition of the office building, which is 88% occupied from Johan Kembara Sdn Bhd will be financed via bank borrowings.

(NST-18 August 2012)

Dunia Batu Alam to buy Malacca land Top

Hock Heng Stone Industries Bhd said Dunia Batu Alam Sdn Bhd, its 60 per cent-owned unit signed a sale and purchase agreement with Wang Seng Sdn Bhd to buy a piece of land in Malacca for RM20.3 million.The group intends to develop shop-offices, terrace houses, semi-detached houses and bungalows. (NST-24 August 2012)

MBSB plans property sale Top

Malaysia Building Society Bhd (MBSB), through its wholly-owned subsidiary, Idaman Usahamas Sdn Bhd, proposes to sell a plot of commercial land together with an abandoned shopping mall in Johor Baru to WCT Hartanah Jaya Sdn Bhd for RM180million. It said the proposed disposal was in line with the group's objective to sell off non-income generating assets, foreclosed properties and properties acquired previously.

(The Star-24 August 2012)

PLB unit plans land sale for RM10.14m Top

PLB Engineering Bhd’s unit Excelgrand Properties Sdn Bhd proposes to dispose of a 81,948.834 square metre piece of freehold land in Seberang Perai Selatan, Penang, to Greenpower City Sdn Bhd, for RM10.144 million.

(NST-25 August 2012)

EPF unit buys RRI land for RM2.28b Top

The Employees Provident Fund's wholly-owned Kwasa Land Sdn Bhd yesterday announced that it has finalised the purchase price of RM2.28 billion for the Rubber Research Institute (RRI) land from the government. The 932ha site in Sungai Buloh, Selangor, will be developed into a township called Kwasa Damansara with an expected population of 150,000. The land will be divided into parcels, developed in phases, and sold to developers according to plot ratios, development components and in conformance with the urban design guidelines by Kwasa Land. (NST-28 August 2012)

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HB Global inks RM48m land pact Top

HB Global Ltd, via its wholly-owned subsidiary, had executed and entered into land use rights agreements with Juxian National Land and Resources Bureau to buy the land use rights over four parcels of land for RM48.37 million. HB Global, formerly known as Sozo Global Ltd, said that the acquisition allows the company to expand its commercial duck farming, parent duck farming and duck feedstock processing plant.

(NST-30 August 2012)

Tradewinds to sell land in Johor via THR Top

Tradewinds Corp Bhd, via its wholly-owned unit THR Hotel (KL) Sdn Bhd, plans to sell a piece of freehold land measuring 109.3ha in Johor to Casa Seroja Sdn Bhd for RM235.47 million. (NST-31 August 2012)

LBI Capital unit buys land in Sabah Top

LBI Capital Bhd says its unit Goldmount Resources Sdn Bhd has bought four parcels of land measuring 1.44ha in Sabah from Liew Leong Lok, Liew Leong Chin and Liew Leong Ting for RM6.7 million to develop a high- end condominium project. The 999-year leasehold land, expiring in 2909, is located at Signal Hill, on fringe of Kota Kinabalu city centre. (NST-13 September 2012)

Sime Darby units sell assets worth RM83m Top

Sime Darby Bhd says its units Sime Darby Ara Damansara Development Sdn Bhd (SDAD) and Sime Darby Brunsfield Holding Sdn Bhd (SDBH) have sold 15 units of kiosks and the Oasis Retail Mall for RM82.5 million to Brunsfield Oasis Square Sdn Bhd (BOSSB). The properties comprise 15 units of centre piazza double-storey kiosks with centre stage and water features pool, and a retail mall of 61 units of retail shops over two levels.

(NST-15 September 2012)

OSK Property to buy land in Petaling Jaya Top

OSK Property Holdings Bhd has proposed to purchase a commercial land in Petaling Jaya, Selangor, for RM12 million. OSK said the acquisition will enable it to increase its existing property development land banks and strengthen its presence in the bustling development area northwest of Kuala Lumpur. The company intends to develop the land which is situated inside a matured residential area of Bandar Sri Damansara by the third quarter of 2013. (NST-26 September 2012)

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RETAIL'S CORNER

Jakel plans Ampang, Bangi, Sarawak shops Top

From humble beginnings to now a major player in the textile business, the Jakel goup of companies is looking at expanding its base to include more branches in the coming months. Group managing director and chief executive Mohamed Faroz Mohamed Jakel said the company was looking at opening new branches in Ampang, Bangi and Sarawak in the coming months. Jakel, which specialises in textiles, has 19 branches nationwide, including one in Sabah. (NST-2 July 2012)

Plan for 74 more Petronas stations costing RM200mil Top

Petronas Dagangan Bhd (PDB), the retail arm of Petroliam Nasional Bhd (Petronas), has allocated about RM200million in capital expenditure to build 74 petrol stations nationwide this year. We have 977 stations nationwide currently and expect to have more than 1,000 by year-end," said PDB retail business division senior general manager Akbar Thayoob at a signing ceremony to renew its partnership with one-stop electronic payment service provider, E-pay (M) Sdn Bhd yesterday. (The Star-3 July 2012)

Zazen Health launches 31st outlet Top

Zazen Health Solutions Sdn Bhd, which launched its 31st Zazen Health Solutions (ZHS) wellness centre here today, expects to bring up the number of its outlets to 200 nationwide over the long term. Chief Executive Officer Yasotha Krishna said ZHS planned to establish 10 outlets within this year. "There will be an outlet in Kuala Terengganu which will be opened in August, followed by one in Brunei, Jalan Ipoh (Kuala Lumpur), Bentong (Pahang)and Sarikei, Sarawak," she told Bernama here today. (NST-4 July 2012)

Naza Quest plans more 3S centres Top

Naza Quest Sdn Bhd, the sole authorised distributor of the Chevrolet brand in the country, plans to open more sales, services and spare parts (3S) centres in Sarawak. Naza Quest chief operating officer Datuk Maruan Mohd said the company will open a RM2.5million, 465 sq m 3S centre in Miri’s Piasau Industrial Estate by the fourth quarter of this year. (The Star-9 July 2012)

Fed Furniture launches first kitchen superstore Top

Federal Furniture Lifestyle Sdn Bhd (FFS), fully owned by Federal Furniture Holdings (M) Bhd, plans to invest some RM10 million to open five new kitchen superstores, Kitchen Plus, by 2017. Federal Furniture group and Kitchen Plus managing director Choy Wai Hin said it will open the stores in Klang Valley first, before moving to other areas. (NST-13 July 2012)

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Daily Fresh to open 5 kiosks in Sarawak next year Top

Daily Fresh, a franchisor of casual kiosks selling snack food, desserts and beverages, aims to open 35 new kiosks by the end of 2013 through its franchise system. Daily Fresh franchise development manager Mohd Ashraf Yong said of the 35 kiosks, five of which are targeted to be opened in Sarawak next year. To date, the company has opened about 105 kiosks across Malaysia, of which 39 are owned by Daily Fresh and the rest are franchised kiosks. (NST-16 July 2012)

Hui Lau Shan opens 4th outlet Top

Hong Kong's popular dessert chain Hui Lau Shan (HLS) opened its fourth outlet at Pavilion here recently. The other outlets are at 1 Utama, The Mines and Berjaya Times Square. HLS chief executive officer William Chew said the chain was named after a famous Chinese physician in ancient time. Chew said HLS was going to invest RM10 million in stages for all chains in Malaysia. He said another 26 outlets would open in the peninsula by March 2014. (NST-17 July 2012)

Mitsubishi unveils largest 3S centre in Perak Top

Mitsubishi Motors Malaysia Sdn Bhd, the local distributor of Mitsubishi Motors vehicles in Malaysia, launched its largest service, showroom, sales (3S) centre in Perak in a bid to enhance its brand presence in the state. The 3S Centre was set up by Mitsubishi Motors Malaysia's authorised dealer Nikaijaya Sdn Bhd. (NST-18 July 2012)

Dr M launches 9th Loaf outlet Top

FORMER Prime Minister Tun Dr Mahathir Mohamad recently launched The Loaf's ninth outlet, at Paradigm Mall in Kelana Jaya here. The much-lauded lifestyle bakery and bistro uses traditional Japanese techniques for making its breads and pastries, along with fresh, chemical-free ingredients. Located on the ground floor of Paradigm Mall, this is the group's second-largest outlet after the one in Bangsar Village 2. (NST-18 July 2012)

Lotus to open KL showroom Top

DRB-HICOM Bhd plans to set up a dedicated Lotus showroom in Kuala Lumpur within the next three months, said group managing director Datuk Mohd Khamil Jamil. "It will be in the city centre. We have identified several areas to house the maiden Lotus outlet in Malaysia under Proton," said Mohd Khamil. Bringing Lotus to Malaysia will be a milestone for national carmaker Proton Holdings Bhd. (NST-21 July 2012)

New brand hits our shores Top

Jeanwest Malaysia recently launched its first outlet at 1Utama shopping centre. The outlet features various clothing from notable international brands such as Denim and many more. Jeanswest Malaysia managing director Patrick E.P. Sim said the outlet will also hold a on winter clothing until the year end. There are ongoing plans of launching other outlets in Sunway Pyramid and IOI Mall Puchong. (The Star-28 July 2012)

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Marrybrown to spread its wings Top

Marrybrown Fried Chicken Sdn Bhd is strengthening its foothold in the fast food sector, both locally and abroad. Business development manager Joshua Liew said the company plans to open 30 more restaurants in the country to enhance the growth of its sales. "The new outlets that will be open this year are at the Langkawi International Airport and Kuala Lumpur, Kidzania Education Entertainment Centre, Central Pudu and Mydin shopping centre in Ipoh," Liew said. He said other locations include Temerloh (Pahang), Sungai Petani (Kedah), Labuan (Sabah), Gua Musang (Kelantan) and Terengganu. The investment cost for each restaurant is between RM500,000 and RM700,000, which includes the cost of franchisee fee, modifications, training and marketing.

(NST-6 August 2012)

McDonald's eyes more franchises Top

McDonald's Malaysia, the second largest food franchisor in the country, is banking on its franchisees to more than double its business. Currently, there are 230 McDonald's restaurants in the country. The plan is to grow its restaurant base to 400 by 2016 and 500 by 2020. Of its 230 restaurants currently, only 17% or 39 restaurants, are owned and operated by independent franchisees. (NST-8 August 2012)

Analyst positive on Padini and say deal with FJ Benjamin should bring long-term benefits Top

Padini Holdings Bhd has signed an exclusive 10-year master franchise agreement with Singaporean company FJ Benjamin Pte Ltd through its wholly-owned subsidiary, Vincci Ladies' Specialties Centre Sdn Bhd, to distribute Vincci (VNC) shoes and accessories in Indonesia. Under the agreement, FJ Benjamin will open a total of 25 VNC stores within the next five years throughout Indonesia via its associate, PT Gilang Agung Persada.

(The Star-8 August 2012)

H&M makes entrance in Setia City Mall Top

Swedish fashion retail giant H&M is set to open at the new Setia City Mall, here. The store will offer the full range of H&M products in over 17,000sq ft (1,579sq m) of retail space, on the upper ground floor of the mall. The first H&M store opened in Sweden in 1947. There are now over 2,500 H&M stores worldwide. Setia City Mall leasing director Mitchell Wilson said: "This will be H&M's second store in Malaysia and we look forward to being part of its growth story in the region. This addition to our retail mix will help us to achieve our vision of becoming the destination of choice for shopping, dining, entertainment and parklife. (NST-10 August 2012)

Aeon to open in Manjung Top

Leading retailer Aeon Co (M) Bhd is set to open its third shopping complex in Ipoh, following the opening of its complexes in in Ipoh Garden and Station 18, if all goes as scheduled. The third outlet, in Manjung, is expected to be operational by year end. Datuk Bandar Datuk Roshidi Hashim said discussions between Harta Mesra Development Sdn Bhd and Aeon to develop the latest shopping complex on a 4ha site in Medan Klebang Restu near here was in its final stages.

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"The latest Aeon shopping complex and the Econsave Supermarket to be built at Klebang Centre Point will be a catalyst to accelerate the development of the Klebang area and nearby Chemor as new growth areas after Meru Raya," he said after launching the Klebang Centre Point here recently. Klebang Centre Point was developed by the Liew Yin Yin Group under a strategic alliance between the group and Econsave Cash & Carry Sdn Bhd.

(NST-15 August 2012)

Parkson to open maiden store in Yangon by March Top

Parkson Retail Asia Ltd will open its maiden department store in Yangon, Myanmar, by March 31 next year to tap the under-served middle to upper income segment of the retail market. This news comes three weeks after its announcement to move into Sri Lanka. Parkson, in a statement to Bursa Malaysia said that together with its wholly-owned unit Parkson Myanmar Co Pte Ltd, has signed a memorandum of agreement with Yoma Strategic Holdings Ltd and First Myanmar Investment Co Ltd (FMI) to establish a joint-venture (JV) entity to operate department stores in Myanmar. (NST-16 August 2012)

Korean delights in Malaysia Top

Popular Korean restaurant chain Bulgogi Brothers have arrived on Malaysian shores. Bulgogi Brothers is touted to be one of the top two South Korean casual dining chains and a frequent haunt of Korean celebrities. Its first outlet in Malaysia was recently launched in Paradigm Mall. Following its flagship outlet in Paradigm Mall, Chaswood will open three other Bulgogi Brothers outlets in the Klang Valley - one each in Pavilion KL, e@Curve and Mid Valley Megamall before the end of 2012. (The Star-25 August 2012)

Johnny Rockets to Malaysia Top

Johnny Rockets international development president Steve Devine said Malaysia's first Johnny Rocket restaurant will be launched in the next eight to 12 months. The initial years will see the company focusing on the Klang Valley area, Kota Kinabalu and Kuching. Devine said Johnny Rockets, a privately-held company based in Los Angeles, is in the midst of finding a franchise partner here and has hired international property consultancy CB Richard Ellis (Malaysia) Sdn Bhd (CBRE) to represent and introduce the brand here.

(NST-25 August 2012)

Parkson plans new outlet Top

The Parkson Holdings group plans to develop another shopping mall in Malacca. Parkson Holdings Bhd told Bursa Malaysia yesterday that its wholly-owned subsidiary Megan Mastika Sdn Bhd had signed a conditional agreement to buy 15 acres in Malacca from Dimensi Andaman Sdn Bhd for RM98million in cash. The 15 acres represent part of the 23.22-acre land which Dimensi Andaman is acquiring from its holding company, Ayer Keroh Resort Sdn Bhd. t said that Ayer Keroh Resort was currently carrying out reclamation works on the land and the Malacca government was expected to issue a title with a leasehold term of 99 years. Dimensi Andaman plans to undertake an integrated property development project on the 23.22 acres, including a shopping mall, serviced apartments and boutique hotel. (The Star-4 September 2012)

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UDA: Kompleks Niaga Utama to be redeveloped Top

UDA Holdings Bhd has denied rumours that Kompleks Niaga Utama (KNU) at Bangsar will be sold and demolished. In a statement, it said it is in the midst of redeveloping the complex, due to take place next year. The company said the complex's tenants have been informed of this plan about nine months ago and their contracts have been renewed on a monthly basis. (NST-10 September 2012)

Ekuinas to acquire Burger King Singapore Top

Government-linked private equity fund manager Ekuiti Nasional Bhd (Ekuinas) is undertaking a RM78.2million follow-on investment in Rancak Selera Sdn Bhd to help the company expand its existing network to Singapore. Rancak Selera operates 32 Burger King Outlets in Malaysia. Ekuinas had invested RM68.2million for a 74.1% stake in the company last September. (The Star-15 September 2012)

The information contained herein is available to the public and have been derived from sources which we believe to be reliable. This publication is on the basis that the information made available to us is accurate and complete. However, we cannot guarantee its accuracy or completeness. JS Valuers Group accepts no responsibility if this should prove otherwise. No liability can be accepted for any loss arising from the use of this publication.

For more information, please contact:

Mr. Chan Wai Seen Director, Research & Consultancy Tel: 603-2162 4133 Email: [email protected] Fax: 603-2162 4188 Website: www.jsvaluers.com.my

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